XML 30 R46.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings Per Share/Unit (Tables)
 12 Months Ended
Dec. 31, 2014
Earnings Per Share/Unit Basic and Diluted [Line Items]  
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share of the Company:

 
Year Ended December 31,
 
2014
 
2013
 
2012
Earnings per Common Share - basic:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
115,588

 
$
62,723

 
$
40,313

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(3,530
)
 
(2,185
)
 
(1,767
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,466
)
 
(949
)
 
(786
)
Dividends on Preferred Stock
(2,507
)
 
(2,508
)
 
(2,508
)
Income from continuing operations available for common stockholders
108,085

 
57,081

 
35,252

Income from discontinued operations
384

 
68,374

 
43,922

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations
(12
)
 
(2,506
)
 
(2,087
)
Income from discontinued operations available for common stockholders
372

 
65,868

 
41,835

Net income available for common stockholders
$
108,457

 
$
122,949

 
$
77,087

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
90,743

 
85,335

 
75,811

Earnings per Common Share - basic:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
1.20

 
$
0.67

 
$
0.47

Income from discontinued operations available for common stockholders
—

 
0.77

 
0.55

Net income available for common stockholders
$
1.20

 
$
1.44

 
$
1.02

Earnings per Common Share - diluted:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
115,588

 
$
62,723

 
$
40,313

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,466
)
 
(949
)
 
(786
)
Dividends on Preferred Stock
(2,507
)
 
(2,508
)
 
(2,508
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
111,615

 
59,266

 
37,019

Income from discontinued operations available for common stockholders
384

 
68,374

 
43,922

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
111,999

 
$
127,640

 
$
80,941

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
90,743

 
85,335

 
75,811

Add:
 
 
 
 
 
Stock options using the treasury method
119

 
114

 
122

Noncontrolling interests Common Units
2,938

 
3,387

 
3,745

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1) (2)
93,800

 
88,836

 
79,678

Earnings per Common Share - diluted:
 
 
 
 
 
Income from continuing operations available for common stockholders
$
1.19

 
$
0.67

 
$
0.47

Income from discontinued operations available for common stockholders
—

 
0.77

 
0.55

Net income available for common stockholders
$
1.19

 
$
1.44

 
$
1.02

__________

17.
Earnings Per Share and Per Unit - Continued
 
(1)
There were 0.3 million and 0.5 million options outstanding during the years ended December 31, 2013 and 2012, respectively, 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 year ended December 31, 2014.
(2)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
Earnings Per Unit
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

 
Year Ended December 31,
 
2014
 
2013
 
2012
Earnings per Common Unit - basic:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
115,588

 
$
62,672

 
$
40,373

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,466
)
 
(949
)
 
(786
)
Distributions on Preferred Units
(2,507
)
 
(2,508
)
 
(2,508
)
Income from continuing operations available for common unitholders
111,615

 
59,215

 
37,079

Income from discontinued operations available for common unitholders
384

 
68,374

 
43,922

Net income available for common unitholders
$
111,999

 
$
127,589

 
$
81,001

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
93,272

 
88,313

 
79,147

Earnings per Common Unit - basic:
 
 
 
 
 
Income from continuing operations available for common unitholders
$
1.20

 
$
0.67

 
$
0.47

Income from discontinued operations available for common unitholders
—

 
0.77

 
0.55

Net income available for common unitholders
$
1.20

 
$
1.44

 
$
1.02

Earnings per Common Unit - diluted:
 
 
 
 
 
Numerator:
 
 
 
 
 
Income from continuing operations
$
115,588

 
$
62,672

 
$
40,373

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(1,466
)
 
(949
)
 
(786
)
Distributions on Preferred Units
(2,507
)
 
(2,508
)
 
(2,508
)
Income from continuing operations available for common unitholders
111,615

 
59,215

 
37,079

Income from discontinued operations available for common unitholders
384

 
68,374

 
43,922

Net income available for common unitholders
$
111,999

 
$
127,589

 
$
81,001

Denominator:
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
93,272

 
88,313

 
79,147

Add:
 
 
 
 
 
Stock options using the treasury method
119

 
114

 
122

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1) (2)
93,391

 
88,427

 
79,269

Earnings per Common Unit - diluted:
 
 
 
 
 
Income from continuing operations available for common unitholders
$
1.20

 
$
0.67

 
$
0.47

Income from discontinued operations available for common unitholders
—

 
0.77

 
0.55

Net income available for common unitholders
$
1.20

 
$
1.44

 
$
1.02

__________
(1)
There were 0.3 million and 0.5 million options outstanding during the years ended December 31, 2013 and 2012, respectively, 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 year ended December 31, 2014.
(2)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.