3. Per Share Data

Basic earnings per share is computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflects 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 2.5 million and 1.9 million for the three months ended June 30, 2016 and 2015, respectively, and was approximately 2.5 million and 1.5 million for the six months ended June 30, 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 calculations 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 June 30,						Six Months Ended June 30,
(in thousands, except per share amounts)	2016			2015			2016			2015
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	68,536		$	31,023		$	105,190		$	141,753
Amount allocated to participating securities	(4,278		)	(251		)	(5,181		)	(1,302		)
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	64,258		$	30,772		$	100,009		$	140,451
Income from discontinued operations, including gain on sale, attributable to common shareholders	377,766			5,056			382,842			9,925
Net income attributable to common shareholders, as adjusted – basic	$	442,024		$	35,828		$	482,851		$	150,376

Earnings per common share from continuing operations	$	0.72		$	0.34		$	1.12		$	1.58
Earnings per common share from discontinued operations	4.22			0.06			4.28			0.11
Total earnings per common share – basic	$	4.94		$	0.40		$	5.40		$	1.69

Weighted average number of common shares outstanding – basic	89,559			89,153			89,451			89,071
Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	64,258		$	30,772		$	100,009		$	140,451
Income allocated to common units from continuing operations	—			274			—			1,615
Income from continuing operations attributable to common shareholders, as adjusted	$	64,258		$	31,046		$	100,009		$	142,066
Income from discontinued operations, including gain on sale, attributable to common shareholder	377,766			5,056			382,842			9,925
Net income attributable to common shareholders – diluted	$	442,024		$	36,102		$	482,851		$	151,991

Earnings per common share from continuing operations	$	0.72		$	0.34		$	1.12		$	1.57
Earnings per common share from discontinued operations	4.20			0.06			4.26			0.11
Total earnings per common share – diluted	$	4.92		$	0.40		$	5.38		$	1.68

Weighted average number of common shares outstanding – basic	89,559			89,153			89,451			89,071
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	303			288			329			339
Common units	—			811			—			1,086
Weighted average number of common shares outstanding – diluted	89,862			90,252			89,780			90,496