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Earnings Per Share
 9 Months Ended
Sep. 30, 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 includes 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. The components of earnings per common share – basic and diluted for the prior periods have been recast to conform with discontinued operations. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Numerator:
 
 
 
 
 
 
 
Continuing Operations:
 
 
 
 
 
 
 
Income from continuing operations
$
23,618

 
$
21,812

 
$
88,932

 
$
30,400

Gain on sale of property
163

 
335

 
570

 
859

Net income attributable to noncontrolling interests
(1,948
)
 
(1,505
)
 
(4,000
)
 
(3,726
)
Dividends on preferred shares
(2,710
)
 
(8,869
)
 
(15,463
)
 
(26,607
)
Redemption costs of preferred shares
—

 
—

 
(17,944
)
 
—

Income from continuing operations attributable to
common shareholders – basic and diluted
$
19,123

 
$
11,773


$
52,095


$
926

Discontinued Operations:
 
 
 
 
 
 
 
Income from discontinued operations
$
38,608

 
$
19,900

 
$
121,882

 
$
66,187

Net loss (income) attributable to noncontrolling interests
101

 
(269
)
 
(37,056
)
 
(831
)
Income from discontinued operations attributable to
common shareholders – basic and diluted
$
38,709

 
$
19,631

 
$
84,826

 
$
65,356

Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
121,359

 
120,766

 
121,235

 
120,637

Effect of dilutive securities:
 
 
 
 
 
 
 
Share options and awards
1,172

 
1,078

 
1,206

 
1,016

Weighted average shares outstanding - diluted
122,531

 
121,844

 
122,441

 
121,653


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
September 30,
 
Nine Months Ended
September 30,
 
2013
 
2012
 
2013
 
2012
Share options (1)
1,929

 
2,359

 
1,929

 
2,359

Operating partnership units
1,555

 
1,582

 
1,555

 
1,583

Total anti-dilutive securities
3,484

 
3,941

 
3,484

 
3,942

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