Basic and diluted income from continuing operations per share are calculated as follows for the years ended December 31 ($ in thousands, except share and per share amounts):

	2012						2011						2010
			Weighted-		Per				Weighted-		Per				Weighted-		Per
			average		Common				average		Common				average		Common
			Common		Share				Common		Share				Common		Share
	Income		Shares		Amount		Income		Shares		Amount		Income		Shares		Amount
Basic:
Income from continuing operations available to common stockholders	$	110,373		35,032,491	$	3.15	$	32,256		32,541,792	$	0.99	$	32,251		29,667,064	$	1.09
Income from discontinued operations available to common stockholders		9,439		35,032,491		0.27		8,112		32,541,792		0.25		1,513		29,667,064		0.05
		119,812				3.42		40,368				1.24		33,764				1.14
Effect of Dilutive Securities (1)		-		92,430				-		86,922				-		67,319

Diluted:
Income from continuing operations available to common stockholders (1)	$	110,373		35,124,921	$	3.14	$	32,256		32,628,714	$	0.99	$	32,251		29,734,383	$	1.09
Income from discontinued operations available to common stockholders		9,439		35,124,921		0.27		8,112		32,628,714		0.25		1,513		29,734,383		0.05
	$	119,812			$	3.41	$	40,368			$	1.24	$	33,764			$	1.14

(1)

Weighted convertible limited partnership units of 2,219,046, 2,231,807 and 2,293,886, which include vested Series Z incentive units, for the years ended December 31, 2012, 2011 and 2010, respectively, were not included in the determination of diluted EPS because they were anti-dilutive. The Company has the ability to redeem DownREIT limited partnership units for cash and does not consider them to be potentially dilutive securities.