Summary of Quarterly Results

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

SUMMARY OF QUARTERLY RESULTS (UNAUDITED)

The following is a summary of quarterly financial information as of and for the years ended December 31, 2013 and 2012 (in thousands, except per share data):

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter (a)
2013
Total revenue	$	139,554	$	140,644	$	143,354	$	138,658
Net income (loss)	3,919		7,180		11,088		21,002
Net income (loss) allocated to Common Shares	2,058		5,308		9,173		18,975
Basic earnings (loss) per Common Share	$	0.01	$	0.03	$	0.06	$	0.12
Diluted earnings (loss) per Common Share	$	0.01	$	0.03	$	0.06	$	0.12
2012
Total revenue	$	133,516	$	131,530	$	134,238	$	136,395
Net income (loss)	9,336		6,802		17,089		(26,698		)
Net income (loss) allocated to Common Shares	7,108		1,537		13,949		(30,832		)
Basic earnings (loss) per Common Share	$	0.05	$	0.01	$	0.10	$	(0.21	)
Diluted earnings (loss) per Common Share	$	0.05	$	0.01	$	0.10	$	(0.21	)

(a) The consolidated statement of operations for the fourth quarter of 2012 also contained an out of period deferred compensation expense adjustment of $0.6 million relating to the acceleration of deferred compensation for certain of our executive personnel who reached qualifying retirement conditions that should have been expensed in prior periods (please see Note 14 for further discussion regarding the qualifying retirement conditions). This resulted in an overstatement of expense by $0.6 million in the fourth quarter of 2012, and an understatement of expense by $0.2 million, $0.3 million, and a nominal amount in the third, second, and first quarters of 2012, respectively, and $0.1 million in the year-ended December 31, 2011. As management believes that this error was not material to prior years' consolidated financial statements and that the impact of recording the error in the current year is not material to the Company's consolidated financial statements, the Company recorded the related adjustment in the current year.

The summation of quarterly earnings per share amounts do not necessarily equal the full year amounts due to rounding. The above information was updated to reclassify amounts previously reported to reflect discontinued operations. See Note 2 and Note 10.