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Earnings per Common Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE
Earnings Per Share
The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per-share data):
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Net income (loss) attributable to common shareholders
$
16,591

 
$
8,730

 
$
14,588

 
$
3,814

Less: dividends paid on unvested share-based compensation
(125
)
 
(81
)
 
(250
)
 
(161
)
Undistributed earnings attributable to share-based compensation
(14
)
 
—

 
—

 
—

Net income (loss) available to common shareholders
$
16,452

 
$
8,649

 
$
14,338

 
$
3,653

Denominator:
 
 
 
 
 
 
 
Weighted-average number of common shares — basic
63,764,929

 
61,082,770

 
63,763,935

 
61,039,721

Effect of dilutive share-based compensation
360,128

 
113,626

 
386,331

 
155,313

Weighted-average number of common shares — diluted
64,125,057

 
61,196,396

 
64,150,266

 
61,195,034

 
 
 
 
 
 
 
 
Net income (loss) per share available to common shareholders — basic
$
0.26

 
$
0.14

 
$
0.22

 
$
0.06

Net income (loss) per share available to common shareholders — diluted
$
0.26

 
$
0.14

 
$
0.22

 
$
0.06



The LTIP units held by the non-controlling interest holders have been excluded from the denominator of the diluted earnings per share as there would be no effect on the amounts since the limited partners' share of income (loss) would also be added or subtracted to derive net income (loss) available to common shareholders.