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Earnings Per Share and Per Unit
 12 Months Ended
Dec. 31, 2016
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:

 
Year Ended December 31,
 
2016
 
2015
 
2014
Earnings per Common Share - basic:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
122,546

 
$
85,521

 
$
96,987

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(3,331
)
 
(2,443
)
 
(2,945
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,253
)
 
(1,264
)
 
(1,466
)
Dividends on Preferred Stock
(2,501
)
 
(2,506
)
 
(2,507
)
Income from continuing operations available for common stockholders
115,461

 
79,308

 
90,069

Income from discontinued operations
418,593

 
15,739

 
18,985

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations
(12,265
)
 
(475
)
 
(597
)
Income from discontinued operations available for common stockholders
406,328

 
15,264

 
18,388

Net income available for common stockholders
$
521,789

 
$
94,572

 
$
108,457

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
98,439

 
94,404

 
90,743

Earnings per Common Share - basic:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
1.17

 
$
0.84

 
$
1.00

Income from discontinued operations available for common stockholders
4.13

 
0.16

 
0.20

Net income available for common stockholders
$
5.30

 
$
1.00

 
$
1.20

Earnings per Common Share - diluted:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
122,546

 
$
85,521

 
$
96,987

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,253
)
 
(1,264
)
 
(1,466
)
Dividends on Preferred Stock
(2,501
)
 
(2,506
)
 
(2,507
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
118,792

 
81,751

 
93,014

Income from discontinued operations available for common stockholders
418,593

 
15,739

 
18,985

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
537,385

 
$
97,490

 
$
111,999

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
98,439

 
94,404

 
90,743

Add:
 
 
 
 
 
Stock options using the treasury method
87

 
87

 
119

Noncontrolling interests Common Units
2,872

 
2,915

 
2,938

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)
101,398

 
97,406

 
93,800

Earnings per Common Share - diluted:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
1.17

 
$
0.84

 
$
0.99

Income from discontinued operations available for common stockholders
4.13

 
0.16

 
0.20

Net income available for common stockholders
$
5.30

 
$
1.00

 
$
1.19

__________
(1)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

17.
Earnings Per Share and Per Unit - Continued
 
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

 
Year Ended December 31,
 
2016
 
2015
 
2014
Earnings per Common Unit - basic:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
122,546

 
$
85,521

 
$
96,987

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,253
)
 
(1,264
)
 
(1,466
)
Distributions on Preferred Units
(2,501
)
 
(2,506
)
 
(2,507
)
Income from continuing operations available for common unitholders
118,792

 
81,751

 
93,014

Income from discontinued operations available for common unitholders
418,593

 
15,739

 
18,985

Net income available for common unitholders
$
537,385

 
$
97,490

 
$
111,999

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
100,902

 
96,910

 
93,272

Earnings per Common Unit - basic:
 
 
 
 
 
Income from continuing operations available for common unitholders
$
1.18

 
$
0.84

 
$
1.00

Income from discontinued operations available for common unitholders
4.15

 
0.17

 
0.20

Net income available for common unitholders
$
5.33

 
$
1.01

 
$
1.20

Earnings per Common Unit - diluted:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
122,546

 
$
85,521

 
$
96,987

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,253
)
 
(1,264
)
 
(1,466
)
Distributions on Preferred Units
(2,501
)
 
(2,506
)
 
(2,507
)
Income from continuing operations available for common unitholders
118,792

 
81,751

 
93,014

Income from discontinued operations available for common unitholders
418,593

 
15,739

 
18,985

Net income available for common unitholders
$
537,385

 
$
97,490

 
$
111,999

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
100,902

 
96,910

 
93,272

Add:
 
 
 
 
 
Stock options using the treasury method
87

 
87

 
119

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)
100,989

 
96,997

 
93,391

Earnings per Common Unit - diluted:
 
 
 
 
 
Income from continuing operations available for common unitholders
$
1.18

 
$
0.84

 
$
1.00

Income from discontinued operations available for common unitholders
4.14

 
0.17

 
0.20

Net income available for common unitholders
$
5.32

 
$
1.01

 
$
1.20

__________
(1)
Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.