Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Allocation of distributed and undistributed earnings to both common shares and restricted common shares

In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period as follows: 

	Year Ended December 31,
	2011		2012		2013
Weighted-average shares:
Common shares outstanding	74,686,150		70,716,963		73,652,996
Restricted common shares	956,433		587,813		593,616
Total weighted-average shares	75,642,583		71,304,776		74,246,612
	Year Ended December 31,
	2011		2012		2013
Percentage of weighted-average shares:
Common shares outstanding	98.74	%	99.18	%	99.20	%
Restricted common shares	1.26	%	0.82	%	0.80	%
Total	100.00	%	100.00	%	100.00	%

Basic and Diluted earnings per share

The calculations of both basic and diluted earnings per share for the years ended December 31, 2011, 2012 and 2013 are as follows: 

	Year Ended December 31,
	2011				2012				2013
Earnings per common share — Basic:
Income from continuing operations	124,270				$	32,868			$	29,781
Less: Distributed and undistributed earnings allocated to restricted common shares(a)	(1,571		)		(271		)		(238		)
Income from continuing operations available to common shareholders — Basic	$	122,699			$	32,597			$	29,543
Weighted-average common shares outstanding — Basic	74,686,150				70,716,963				73,652,996
Net income per common share — Basic	1.64				$	0.46			$	0.40
Earnings per common share — Diluted:
Income from continuing operations	124,270				$	32,868			$	29,781
Less: Distributed and undistributed earnings allocated to restricted common shares(a)	(1,571		)		(271		)		(238		)
Income from continuing operations available to common shareholders — Diluted	$	122,699			$	32,597			$	29,543
Weighted-average common shares outstanding — Basic	74,686,150				70,716,963				73,652,996
Effect of diluted shares	—			(b)	—			(b)	—			(b)
Weighted-average common shares outstanding — Diluted	74,686,150				70,716,963				73,652,996
Net income per common share — Diluted	1.64				$	0.46			$	0.40

 _____________

(a) For the years ended December 31, 2011, 2012 and 2013, distributed and undistributed earnings to restricted shares is 1.26%, 0.82% and 0.80%, respectively, of net income. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings.

(b) For the years ended December 31, 2011, 2012 and 2013, we have no dilutive shares.