Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted include the effect of potentially dilutive securities. Income from continuing operations attributable to common shareholders includes gain on sale of property in accordance with Securities and Exchange Commission guidelines. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended March 31,
	2013			2012
Numerator:
Continuing Operations:
Income from continuing operations	$	44,830		$	14,931
Gain on sale of property	142			440
Net income attributable to noncontrolling interests	(1,467		)	(1,441		)
Dividends on preferred shares	(7,440		)	(8,869		)
Redemption costs of preferred shares	(2,242		)	—
Income from continuing operations attributable to common shareholders – basic and diluted	$	33,823		$	5,061
Discontinued Operations:
(Loss) income from discontinued operations attributable to common shareholders – basic and diluted	$	(155	)	$	7,267
Denominator:
Weighted average shares outstanding - basic	121,058			120,481
Effect of dilutive securities:
Share options and awards	1,165			960
Weighted average shares outstanding - diluted	122,223			121,441

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):

	Three Months Ended March 31,
	2013	2012
Share options (1)	2,313	3,147
Operating partnership units	1,556	1,584
Total anti-dilutive securities	3,869	4,731

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(1) Exclusion results as exercise prices were greater than the average market price for each respective period.