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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
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
June 30,
 
Six Months Ended
June 30,
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Continuing Operations:
 
 
 
 
 
 
 
Income from continuing operations
$
31,803

 
$
21,996

 
$
54,930

 
$
62,974

Gain on sale of property
1,748

 
265

 
1,911

 
407

Net income attributable to noncontrolling interests
(1,561
)
 
(920
)
 
(3,118
)
 
(1,993
)
Dividends on preferred shares
(2,710
)
 
(5,313
)
 
(5,420
)
 
(12,753
)
Redemption costs of preferred shares
—

 
(15,702
)
 
—

 
(17,944
)
Income from continuing operations attributable to
common shareholders – basic and diluted
$
29,280

 
$
326


$
48,303


$
30,691

Discontinued Operations:
 
 
 
 
 
 
 
Income from discontinued operations
$
3,433

 
$
81,917

 
$
44,924

 
$
85,614

Net (income) loss attributable to noncontrolling interests
(27
)
 
(36,822
)
 
52

 
(37,216
)
Income from discontinued operations attributable to
common shareholders – basic and diluted
$
3,406

 
$
45,095

 
$
44,976

 
$
48,398

Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
121,497

 
121,286

 
121,449

 
121,172

Effect of dilutive securities:
 
 
 
 
 
 
 
Share options and awards
1,337

 
1,288

 
1,292

 
1,223

Weighted average shares outstanding - diluted
122,834

 
122,574

 
122,741

 
122,395


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
June 30,
 
Six Months Ended
June 30,
 
2014
 
2013
 
2014
 
2013
Share options (1)
1,924

 
1,219

 
1,924

 
1,939

Operating partnership units
1,499

 
1,555

 
1,499

 
1,556

Total anti-dilutive securities
3,423

 
2,774

 
3,423

 
3,495

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