3. Per Share Data

Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 1.7 million and 1.5 million for the three months ended March 31, 2016 and 2015, respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculation as they are anti-dilutive.

The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2016			2015
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	36,654		$	110,730
Amount allocated to participating securities	(232		)	(1,052		)
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	36,422		$	109,678
Income from discontinued operations attributable to common shareholders	5,076			4,869
Net income attributable to common shareholders, as adjusted – basic	$	41,498		$	114,547

Earnings per common share from continuing operations	$	0.41		$	1.23
Earnings per common share from discontinued operations	0.05			0.06
Total earnings per common share – basic	$	0.46		$	1.29

Weighted average number of common shares outstanding – basic	89,344			88,987

Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	36,422		$	109,678
Income allocated to common units from continuing operations	328			766
Income from continuing operations attributable to common shareholders, as adjusted	$	36,750		$	110,444
Income from discontinued operations attributable to common shareholder	5,076			4,869
Net income attributable to common shareholders – diluted	$	41,826		$	115,313

Earnings per common share from continuing operations	$	0.41		$	1.22
Earnings per common share from discontinued operations	0.05			0.05
Total earnings per common share – diluted	$	0.46		$	1.27

Weighted average number of common shares outstanding – basic	89,344			88,987
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	355			391
Common units	810			1,086
Weighted average number of common shares outstanding – diluted	90,509			90,464