The following table is a reconciliation of the components of basic and diluted EPS computations for the three years ended December 31:



	For the year ended December 31,
	2013			2012			2011
	(In thousands, except share and per share data)
Basic earnings per share - Numerator:
Net income from continuing operations	$	66,691		$	48,758		$	36,101
Less: Net income attributable to noncontrolling interests	3,948			3,122			3,148
Net income from continuing operations attributable to the Company	62,743			45,636			32,953
Decrease/ (increase) in noncontrolling interests’ redemption values (1)	(368		)	(415		)	(515		)
Dividends on participating securities (2)	(14,689		)	(366		)	(373		)
Total adjustments to income attributable to common shareholders	(15,057		)	(781		)	(888		)
Net income from continuing operations attributable to common shareholders, before allocation to participating securities	47,686			44,855			32,065
Less: Amount allocated to participating securities	(1,243		)	(4,499		)	(3,144		)
Net income from continuing operations attributable to common shareholders, after allocation to participating securities	$	46,443		$	40,356		$	28,921
Net income from discontinued operations, before allocation to participating securities	$	7,792		$	7,635		$	6,184
Less: Amount allocated to participating securities	(336		)	(821		)	(669		)
Net income from discontinued operations, after allocation to participating securities	$	7,456		$	6,814		$	5,515
Net income attributable to common shareholders, before allocation to participating securities	$	55,478		$	52,490		$	38,249
Less: Amount allocated to participating securities	(1,579		)	(5,320		)	(3,813		)
Net income attributable to common shareholders, after allocation to participating securities	$	53,899		$	47,170		$	34,436

Basic earnings per share - Denominator:
Weighted average basic common shares outstanding	77,373,817			76,019,991			75,169,611
Per share data - Basic earnings per share from:
Continuing operations	$	0.60		$	0.53		$	0.39
Discontinued operations	$	0.10		$	0.09		$	0.07
Total attributable to common shareholders	$	0.70		$	0.62		$	0.46



	For the year ended December 31,
	2013		2012		2011
	(In thousands, except share and per share data)
Diluted earnings per share - Numerator:
Net income from continuing operations attributable to common shareholders, after allocation to participating securities	$	46,443	$	40,356	$	28,921
Add back: income allocated to dilutive securities	—		—		—
Net income from continuing operations attributable to common shareholders, after allocation to participating securities, after assumed dilution	46,443		40,356		28,921
Net income from discontinued operations, after allocation to participating securities	7,456		6,814		5,515
Net income attributable to common shareholders, after allocation to participating securities, after assumed dilution	$	53,899	$	47,170	$	34,436
Diluted earnings per share - Denominator:
Weighted average basic common shares outstanding	77,373,817		76,019,991		75,169,611
Dilutive effect of:
Stock options and performance-based restricted stock (3)	656,066		579,627		206,588
Warrants to purchase common stock (3)	723,641		373,898		104,829
Dilutive common shares	1,379,707		953,525		311,417
Weighted average diluted common shares outstanding (3)	78,753,524		76,973,516		75,481,028
Per share data - Diluted earnings per share from:
Continuing operations	$	0.59	$	0.52	$	0.39
Discontinued operations	$	0.09	$	0.09	$	0.07
Total attributable to common shareholders	$	0.68	$	0.61	$	0.46
Dividends per share declared and paid on common stock	$	0.24	$	0.04	$	0.04

_____________________

(1)

See Part II. Item 8. “Financial Statements and Supplementary Data—Note 14: Noncontrolling Interests” for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption values 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)	Consideration paid in excess of carrying value for the repurchase of the Series B preferred stock of $11.7 million is considered a deemed dividend and, for purposes of calculating EPS, reduces net income attributable to common shareholders for the year ended December 31, 2013.


(3)	The diluted EPS computations for the years ended December 31, 2013, 2012, and 2011 do not assume the conversion, exercise or contingent issuance of the following shares for the following periods because the result would have been antidilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows:



	For the year ended December 31,
	2013	2012	2011
Shares excluded due to anti-dilution (treasury method):	(In thousands)
Potential common shares from:
Convertible trust preferred securities (a)	1	323	1,504
Total shares excluded due to anti-dilution	1	323	1,504



	For the year ended December 31,
	2013	2012	2011
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:
Options, restricted stock, or other dilutive securities (b)	1,399	2,101	3,845
Warrants (c)	—	—	2,888
Total shares excluded due to exercise price exceeding the average market price of common shares during the period	1,399	2,101	6,733

(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 $0.9 million and $1.6 million for the years ended December 31, 2012 and 2011, respectively, would have been added back to net income attributable to common shareholders for diluted EPS computations for the periods presented. An immaterial amount would have been added back for the year ended December 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.


(c)	Certain warrants to purchase shares of common stock that were outstanding at period ends were not included in the computations of diluted EPS because the warrants’ exercise price was greater than the average market price of the common shares during the respective period.