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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2013
Eps [Abstract]  
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]
The following tables present the computations of basic and diluted EPS:
 
Three months ended March 31,
 
2013
 
2012
(In thousands, except share and per share data)
 
 
 
Basic earnings/ (loss) per share - Numerator:
 
 
 
Net income from continuing operations
$
12,411

 
$
8,744

Less: Net income attributable to noncontrolling interests
930

 
793

Net income from continuing operations attributable to the Company
11,481

 
7,951

Decrease/ (increase) in noncontrolling interests’ redemption values (1)
(15
)
 
(86
)
Dividends on participating securities
(442
)
 
(92
)
Total adjustments to income attributable to common shareholders
(457
)
 
(178
)
Net income from continuing operations attributable to common shareholders, before allocation to participating securities
11,024

 
7,773

Less: Amount allocated to participating securities
(731
)
 
(763
)
Net income from continuing operations attributable to common shareholders, after allocation to participating securities
$
10,293

 
$
7,010

Net income from discontinued operations, before allocation to participating securities
$
1,722

 
$
1,554

Less: Amount allocated to participating securities
(177
)
 
(169
)
Net income from discontinued operations, after allocation to participating securities
$
1,545

 
$
1,385

Net income attributable to common shareholders, before allocation to participating securities
$
12,746

 
$
9,327

Less: Amount allocated to participating securities
(908
)
 
(932
)
Net income attributable to common shareholders, after allocation to participating securities
$
11,838

 
$
8,395

 
 
 
 
Basic earnings/ (loss) per share - Denominator:
 
 
 
Weighted average basic common shares outstanding
76,818,610

 
75,632,980

Per share data - Basic earnings/ (loss) per share from:
 
 
 
Continuing operations
$
0.13

 
$
0.09

Discontinued operations
$
0.02

 
$
0.02

Total attributable to common shareholders
$
0.15

 
$
0.11



 
Three months ended March 31,
(In thousands, except share and per share data)
2013
 
2012
(In thousands, except share and per share data)
 
 
 
Diluted earnings/ (loss) per share - Numerator:
 
 
 
Net income from continuing operations attributable to common shareholders, after allocation to participating securities
$
10,293

 
$
7,010

Add back: income allocated to dilutive securities

 

Net income from continuing operations attributable to common shareholders, after allocation to participating securities, after assumed dilution
10,293

 
7,010

Net income from discontinued operations, after allocation to participating securities
1,545

 
1,385

Net income attributable to common shareholders, after allocation to participating securities, after assumed dilution
$
11,838

 
$
8,395

Diluted earnings/ (loss) per share - Denominator:
 
 
 
Weighted average basic common shares outstanding
76,818,610

 
75,632,980

Dilutive effect of:
 
 
 
 Stock options and performance-based restricted stock (2)
561,128

 
453,626

 Warrants to purchase common stock (2)
445,692

 
346,245

Dilutive common shares
1,006,820

 
799,871

Weighted average diluted common shares outstanding (2)
77,825,430

 
76,432,851

Per share data - Diluted earnings/ (loss) per share from:
 
 
 
Continuing operations
$
0.13

 
$
0.09

Discontinued operations
$
0.02

 
$
0.02

Total attributable to common shareholders
$
0.15

 
$
0.11

Dividends per share declared on common stock
$
0.05

 
$
0.01

_____________________
(1)
See Part II. Item 8. “Financial Statements and Supplementary Data—Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption value from period to period reduces income attributable to common shareholders. Decreases in redemption value from period to period increase income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009.
(2)
The diluted EPS computations for the three months ended March 31, 2013 and 2012 do not assume the conversion, exercise, or contingent issuance of the following shares for these periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows:
 
Three months ended March 31,
 
2013
 
2012
Shares excluded due to anti-dilution (treasury method):
(In thousands)
Potential common shares from:
 
 
 
Convertible trust preferred securities (a)
21

 
1,399

Total shares excluded due to anti-dilution
21

 
1,399


 
Three months ended March 31,
 
2013
 
2012
Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):
(In thousands)
Potential common shares from:
 
 
 
Stock options, performance-based restricted stock, or other dilutive securities (b)
1,627

 
2,495

Total shares excluded due to exercise price exceeding the average market price of common shares during the period
1,627

 
2,495


(a)
If the effect of the conversion of the trust preferred securities would have been dilutive, interest expense, net of tax, related to the convertible trust preferred securities of $0.3 million for the three months ended March 31, 2012 would have been added back to net income attributable to common shareholders for diluted EPS computations for the period presented. None would be added back for the three months ended March 31, 2013.
(b)
Options to purchase shares of common stock, non-participating (performance-based) restricted stock, and other dilutive securities that were outstanding at period ends were not included in the computation of diluted EPS or in the above anti-dilution table because their exercise or conversion prices were greater than the average market price of the common shares during the respective periods.