Earnings per Share and Unit (Tables)

12 Months Ended

Dec. 31, 2014

Parent Company [Member]

Schedule of Earnings Per Share, Basic and Diluted

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share (in thousands except per share data):

	Year ended December 31,
	2014		2013	2012
Numerator:
Continuing Operations
Income from continuing operations	$	133,770	84,297	45,779
Gain on sale of real estate, net of tax	55,077		1,703	2,158
Less: income attributable to noncontrolling interests	1,457		1,360	385
Income from continuing operations attributable to the Company	187,390		84,640	47,552
Less: preferred stock dividends	21,062		21,062	32,531
Less: dividends paid on unvested restricted stock	453		448	572
Income from continuing operations attributable to common stockholders - basic	165,875		63,130	14,449
Add: dividends paid on Treasury Method restricted stock	63		45	71
Income from continuing operations attributable to common stockholders - diluted	165,938		63,175	14,520
Discontinued Operations
Income (loss) from discontinued operations	—		65,285	(21,728	)
Less: income from discontinued operations attributable to noncontrolling interests	—		121	(43	)
Income from discontinued operations attributable to the Company	—		65,164	(21,685	)
Net Income
Net income attributable to common stockholders - basic	165,875		128,294	(7,236	)
Net income attributable to common stockholders - diluted	$	165,938	128,339	(7,165	)
Denominator:
Weighted average common shares outstanding for basic EPS	92,370		91,383	89,630
Incremental shares to be issued under common stock options	—		2	—
Incremental shares to be issued under unvested restricted stock	34		24	39
Weighted average common shares outstanding for diluted EPS	92,404		91,409	89,669
Income per common share – basic
Continuing operations	$	1.80	0.69	0.16
Discontinued operations	—		0.71	(0.24	)
Net income (loss) attributable to common stockholders	$	1.80	1.40	(0.08	)
Income per common share – diluted
Continuing operations	$	1.80	0.69	0.16
Discontinued operations	—		0.71	(0.24	)
Net income (loss) attributable to common stockholders	$	1.80	1.40	(0.08	)

Partnership Interest [Member]

Schedule of Earnings Per Share, Basic and Diluted

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit (in thousands except per unit data):

	Year ended December 31,
	2014		2013	2012
Numerator:
Continuing Operations
Income from continuing operations	$	133,770	84,297	45,779
Gain on sale of real estate, net of tax	55,077		1,703	2,158
Less: income attributable to noncontrolling interests	1,138		1,084	908
Income from continuing operations attributable to the Partnership	187,709		84,916	47,029
Less: preferred unit distributions	21,062		21,062	31,902
Less: dividends paid on unvested restricted units	453		448	572
Income from continuing operations attributable to common unit holders - basic	166,194		63,406	14,555
Add: dividends paid on Treasury Method restricted units	63		45	71
Income from continuing operations attributable to common unit holders - diluted	166,257		63,451	14,626
Discontinued Operations
Income (loss) from discontinued operations	—		65,285	(21,728	)
Less: income from discontinued operations attributable to noncontrolling interests	—		121	(43	)
Income from discontinued operations attributable to the Partnership	—		65,164	(21,685	)
Net Income
Net income attributable to common unit holders - basic	166,194		128,570	(7,130	)
Net income attributable to common unit holders - diluted	$	166,257	128,615	(7,059	)
Denominator:
Weighted average common units outstanding for basic EPU	92,528		91,555	89,808
Incremental units to be issued under common stock options	—		2	—
Incremental units to be issued under unvested restricted stock	34		24	39
Weighted average common units outstanding for diluted EPU	92,562		91,581	89,847
Income (loss) per common unit – basic
Continuing operations	$	1.80	0.69	0.16
Discontinued operations	—		0.71	(0.24	)
Net income (loss) attributable to common unit holders	$	1.80	1.40	(0.08	)
Income (loss) per common unit – diluted
Continuing operations	$	1.80	0.69	0.16
Discontinued operations	—		0.71	(0.24	)
Net income (loss) attributable to common unit holders	$	1.80	1.40	(0.08	)