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Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2018
Earnings Per Share [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,
 
2018
 
2017
 
(In thousands, except share and per share data)
Basic earnings per share - Numerator:
 
 
 
Net income from continuing operations
$
22,038

 
$
14,996

Less: Net income attributable to noncontrolling interests
1,050

 
966

Net income from continuing operations attributable to the Company
20,988

 
14,030

Decrease/ (increase) in noncontrolling interests’ redemption values (1)
846

 
(297
)
Dividends on preferred stock
(869
)
 
(869
)
Total adjustments to income attributable to common shareholders
(23
)
 
(1,166
)
Net income from continuing operations attributable to common shareholders, treasury stock method
20,965

 
12,864

Net income from discontinued operations
1,698

 
1,632

Net income attributable to common shareholders, treasury stock method
$
22,663

 
$
14,496

 
 
 
 
Basic earnings per share - Denominator:
 
 
 
Weighted average basic common shares outstanding
83,097,758

 
81,951,179

Per share data - Basic earnings per share from:
 
 
 
Continuing operations
$
0.25

 
$
0.16

Discontinued operations
$
0.02

 
$
0.02

Total attributable to common shareholders
$
0.27

 
$
0.18



 
Three months ended March 31,
 
2018
 
2017
 
(In thousands, except share and per share data)
Diluted earnings per share - Numerator:
 
 
 
Net income from continuing operations attributable to common shareholders, after assumed dilution
$
20,965

 
$
12,864

Net income from discontinued operations
1,698

 
1,632

Net income attributable to common shareholders, after assumed dilution
$
22,663

 
$
14,496

Diluted earnings per share - Denominator:
 
 
 
Weighted average basic common shares outstanding
83,097,758

 
81,951,179

Dilutive effect of:
 
 
 
Stock options, performance-based and time-based restricted stock, and performance-based and time-based restricted stock units, and other dilutive securities (2)
1,136,145

 
1,455,333

Warrants to purchase common stock (2)
1,037,747

 
1,154,406

Dilutive common shares
2,173,892

 
2,609,739

Weighted average diluted common shares outstanding (2)
85,271,650

 
84,560,918

Per share data - Diluted earnings per share from:
 
 
 
Continuing operations
$
0.25

 
$
0.15

Discontinued operations
$
0.02

 
$
0.02

Total attributable to common shareholders
$
0.27

 
$
0.17

Dividends per share declared and paid on common stock
$
0.12

 
$
0.11

_____________________
(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, 2017 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the 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, 2018 and 2017 do not assume the conversion, exercise, or contingent issuance of the following shares for the following 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,
 
2018
 
2017
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
39

 
121

Total shares excluded due to exercise price exceeding the average market price of common shares during the period
39

 
121