XML 76 R20.htm IDEA: XBRL DOCUMENT v3.3.0.814
Earnings Per Share and Per Unit
 9 Months Ended
Sep. 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
September 30,
 
Nine Months Ended
September 30,
 
2015
 
2014
 
2015
 
2014
Earnings per Common Share - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
31,617

 
$
54,299

 
$
79,343

 
$
92,003

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(918
)
 
(1,673
)
 
(2,296
)
 
(2,801
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(324
)
 
(291
)
 
(948
)
 
(1,152
)
Dividends on Preferred Stock
(626
)
 
(627
)
 
(1,879
)
 
(1,881
)
Income from continuing operations available for common stockholders
29,749

 
51,708

 
74,220

 
86,169

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
$
29,749

 
$
51,708

 
$
74,220

 
$
86,541

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
94,693

 
90,668

 
93,996

 
90,299

Earnings per Common Share - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.31

 
$
0.57

 
$
0.79

 
$
0.96

Income from discontinued operations available for common stockholders
—

 
—

 
—

 
—

Net income available for common stockholders
$
0.31

 
$
0.57

 
$
0.79

 
$
0.96

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
31,617

 
$
54,299

 
$
79,343

 
$
92,003

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(324
)
 
(291
)
 
(948
)
 
(1,152
)
Dividends on Preferred Stock
(626
)
 
(627
)
 
(1,879
)
 
(1,881
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
30,667

 
53,381

 
76,516

 
88,970

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
$
30,667

 
$
53,381

 
$
76,516

 
$
89,354

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
94,693

 
90,668

 
93,996

 
90,299

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
58

 
118

 
89

 
121

Noncontrolling interests Common Units
2,910

 
2,937

 
2,918

 
2,938

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1) (2)
97,661

 
93,723

 
97,003

 
93,358

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.31

 
$
0.57

 
$
0.79

 
$
0.96

Income from discontinued operations available for common stockholders
—

 
—

 
—

 
—

Net income available for common stockholders
$
0.31

 
$
0.57

 
$
0.79

 
$
0.96

__________

 
13.
Earnings Per Share and Per Unit - Continued
(1)
There were 0.2 million options outstanding during both the three and nine months ended September 30, 2015 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 both the three and nine months ended September 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
September 30,
 
Nine Months Ended
September 30,
 
2015
 
2014
 
2015
 
2014
Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
31,617

 
$
54,299

 
$
79,343

 
$
92,003

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(324
)
 
(291
)
 
(948
)
 
(1,152
)
Distributions on Preferred Units
(626
)
 
(627
)
 
(1,879
)
 
(1,881
)
Income from continuing operations available for common unitholders
30,667

 
53,381

 
76,516

 
88,970

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
384

Net income available for common unitholders
$
30,667

 
$
53,381

 
$
76,516

 
$
89,354

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
97,194

 
93,196

 
96,505

 
92,828

Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.32

 
$
0.57

 
$
0.79

 
$
0.96

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
—

Net income available for common unitholders
$
0.32

 
$
0.57

 
$
0.79

 
$
0.96

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
31,617

 
$
54,299

 
$
79,343

 
$
92,003

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(324
)
 
(291
)
 
(948
)
 
(1,152
)
Distributions on Preferred Units
(626
)
 
(627
)
 
(1,879
)
 
(1,881
)
Income from continuing operations available for common unitholders
30,667

 
53,381

 
76,516

 
88,970

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
384

Net income available for common unitholders
$
30,667

 
$
53,381

 
$
76,516

 
$
89,354

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
97,194

 
93,196

 
96,505

 
92,828

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
58

 
118

 
89

 
121

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1) (2)
97,252

 
93,314

 
96,594

 
92,949

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.32

 
$
0.57

 
$
0.79

 
$
0.96

Income from discontinued operations available for common unitholders
—

 
—

 
—

 
—

Net income available for common unitholders
$
0.32

 
$
0.57

 
$
0.79

 
$
0.96

__________
(1)
There were 0.2 million options outstanding during both the three and nine months ended September 30, 2015 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 both the three and nine months ended September 30, 2014.
(2)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.