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Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

A significant portion of 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, 2013 and 2012:
 
Three months ended March 31,
 
2013
 
2012
BASIC AND DILUTED
 
 
 
Loss from continuing operations attributable to common shareholders
$
(12,198
)
 
$
(726
)
Income (loss) from discontinued operations attributable to common shareholders
4,903

 
(1,461
)
Net loss attributable to common shareholders
$
(7,295
)
 
$
(2,187
)
Weighted-average number of common shares outstanding
189,232,274

 
154,149,034

Income (loss) per common share:
 

 
 

Loss from continuing operations
$
(0.07
)
 
$
—

Income (loss) from discontinued operations
0.03

 
(0.01
)
Net loss attributable to common shareholders
$
(0.04
)
 
$
(0.01
)

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, the Company repurchased and retired 34,800 shares, respectively, of its 6.50% Series C Cumulative Convertible Preferred Stock at an aggregate discount of $229 to the historical cost basis. The discount constitutes a deemed negative dividend, offsetting other dividends, and is accretive to common shareholders. Accordingly, net income (loss) was adjusted for the dividends to arrive at net loss attributable to common shareholders.