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Earnings Per Share and Per Unit
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share and Per Unit
Earnings Per Share and Per Unit

The following table sets forth the computation of basic and diluted earnings per share of the Company:

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Earnings per Common Share - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
26,891

 
$
24,512

 
$
47,726

 
$
37,704

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(782
)
 
(742
)
 
(1,378
)
 
(1,128
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(328
)
 
(438
)
 
(624
)
 
(861
)
Dividends on Preferred Stock
(626
)
 
(627
)
 
(1,253
)
 
(1,254
)
Income from continuing operations available for common stockholders
25,155

 
22,705

 
44,471

 
34,461

Income from discontinued operations
—

 
—

 
—

 
384

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations
—

 
—

 
—

 
(12
)
Income from discontinued operations available for common stockholders
—

 
—

 
—

 
372

Net income available for common stockholders
$
25,155

 
$
22,705

 
$
44,471

 
$
34,833

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
94,055

 
90,254

 
93,641

 
90,111

Earnings per Common Share - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.27

 
$
0.25

 
$
0.47

 
$
0.38

Income from discontinued operations available for common stockholders
—

 
—

 
—

 
0.01

Net income available for common stockholders
$
0.27

 
$
0.25

 
$
0.47

 
$
0.39

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
26,891

 
$
24,512

 
$
47,726

 
$
37,704

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(328
)
 
(438
)
 
(624
)
 
(861
)
Dividends on Preferred Stock
(626
)
 
(627
)
 
(1,253
)
 
(1,254
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
25,937

 
23,447

 
45,849

 
35,589

Income from discontinued operations available for common stockholders
—

 
—

 
—

 
384

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
25,937

 
$
23,447

 
$
45,849

 
$
35,973

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
94,055

 
90,254

 
93,641

 
90,111

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
84

 
121

 
104

 
123

Noncontrolling interests Common Units
2,910

 
2,937

 
2,921

 
2,938

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1) (2)
97,049

 
93,312

 
96,666

 
93,172

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.27

 
$
0.25

 
$
0.47

 
$
0.38

Income from discontinued operations available for common stockholders
—

 
—

 
—

 
0.01

Net income available for common stockholders
$
0.27

 
$
0.25

 
$
0.47

 
$
0.39

__________

 
13.
Earnings Per Share and Per Unit - Continued
(1)
There were 0.2 million options outstanding during each of the three and six months ended June 30, 2015 and the six months ended June 30, 2014 that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive. There were no such options outstanding during the three months ended June 30, 2014.
(2)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
26,891

 
$
24,512

 
$
47,726

 
$
37,704

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(328
)
 
(438
)
 
(624
)
 
(861
)
Distributions on Preferred Units
(626
)
 
(627
)
 
(1,253
)
 
(1,254
)
Income from continuing operations available for common unitholders
25,937

 
23,447

 
45,849

 
35,589

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
384

Net income available for common unitholders
$
25,937

 
$
23,447

 
$
45,849

 
$
35,973

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
96,556

 
92,782

 
96,153

 
92,640

Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.27

 
$
0.25

 
$
0.48

 
$
0.38

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
0.01

Net income available for common unitholders
$
0.27

 
$
0.25

 
$
0.48

 
$
0.39

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
26,891

 
$
24,512

 
$
47,726

 
$
37,704

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(328
)
 
(438
)
 
(624
)
 
(861
)
Distributions on Preferred Units
(626
)
 
(627
)
 
(1,253
)
 
(1,254
)
Income from continuing operations available for common unitholders
25,937

 
23,447

 
45,849

 
35,589

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
384

Net income available for common unitholders
$
25,937

 
$
23,447

 
$
45,849

 
$
35,973

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
96,556

 
92,782

 
96,153

 
92,640

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
84

 
121

 
104

 
123

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1) (2)
96,640

 
92,903

 
96,257

 
92,763

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.27

 
$
0.25

 
$
0.48

 
$
0.38

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
0.01

Net income available for common unitholders
$
0.27

 
$
0.25

 
$
0.48

 
$
0.39

__________
(1)
There were 0.2 million options outstanding during each of the three and six months ended June 30, 2015 and the six months ended June 30, 2014 that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive. There were no such options outstanding during the three months ended June 30, 2014.
(2)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.