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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three months ended March 31, 2012 and 2011:
 
2012
 
2011
BASIC
 
 
 
Income (loss) from continuing operations attributable to common shareholders
$
(1,024
)
 
$
243

Loss from discontinued operations attributable to common shareholders
(1,163
)
 
(23,881
)
Net loss attributable to common shareholders
$
(2,187
)
 
$
(23,638
)
Weighted-average number of common shares outstanding
154,149,034

 
146,175,508

Income (loss) per common share:
 

 
 

Income (loss) from continuing operations
$
0.00

 
$
0.00

Loss from discontinued operations
(0.01
)
 
(0.16
)
Net loss attributable to common shareholders
$
(0.01
)
 
$
(0.16
)
DILUTED
 
 
 
Income (loss) from continuing operations attributable to common shareholders
$
(1,024
)
 
$
243

Deduct change in value of forward equity commitment
—

 
(5,993
)
Loss from continuing operations attributable to common shareholders
(1,024
)
 
(5,750
)
Loss from discontinued operations attributable to common shareholders
(1,163
)
 
(23,881
)
Net loss attributable to common shareholders
$
(2,187
)
 
$
(29,631
)
Weighted-average number of common shares outstanding – basic
154,149,034

 
146,175,508

Forward equity commitment settlement
—

 
(3,544,219
)
Weighted-average number of common shares outstanding – diluted
154,149,034

 
142,631,289

Loss per common share:
 
 
 
Loss from continuing operations
$
0.00

 
$
(0.04
)
Loss from discontinued operations
(0.01
)
 
(0.17
)
Net loss attributable to common shareholders
$
(0.01
)
 
$
(0.21
)

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.
During the three months ended March 31, 2012 and 2011, the Company repurchased and retired 34,800 and 15,296 shares, respectively, of Series C Cumulative Convertible Preferred Stock at an aggregate discount of $229 and $86, respectively, to the historical cost basis. This discount constitutes a deemed negative dividend, offsetting other dividends, and is accretive to common shareholders. Accordingly, net income (loss) was adjusted to arrive at net loss attributable to common shareholders.