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Note 1 - Interim Financial Statements - Reconciliation of Earnings (Loss) and the Weighted Average Number of Shares (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income/(loss) from continuing operations $ (51,319) $ 53,419 $ 229,517 $ 435,288
Gain on sale of operating properties, net of tax 9,771 27,665 75,935 86,219
Net income attributable to noncontrolling interests (1,997) (3,512) (4,875) (6,518)
Preferred stock dividends (11,555) (14,573) (34,665) (43,719)
Income/(loss) from continuing operations available to the common shareholders (55,100) 62,999 265,912 471,270
Earnings attributable to participating securities (502) (405) (1,493) (2,178)
Income/(loss) from continuing operations attributable to common shareholders (55,602) 62,594 264,419 469,092
Loss from discontinued operations attributable to the Company (75)
Net income/(loss) attributable to the Company’s common shareholders for basic earnings per share $ (55,602) $ 62,594 $ 264,419 $ 469,017
Weighted average common shares outstanding – basic (in shares) 420,073 411,487 416,829 411,202
Income/(loss) from continuing operations (in dollars per share) $ (0.13) $ 0.15 $ 0.63 $ 1.14
Loss from discontinued operations (in dollars per share)
-Basic (in dollars per share) $ (0.13) $ 0.15 $ 0.63 $ 1.14
Distributions on convertible units $ 446
Net income/(loss) attributable to the Company’s common shareholders for diluted earnings per share $ (55,602) $ 62,594 $ 264,419 $ 469,463
Equity awards (in shares) [1] 1,199 1,405 1,337
Assumed conversion of convertible units (in shares) [1] 723
Shares for diluted earnings per common share (in shares) 420,073 412,686 418,234 413,262
Income/(loss) from continuing operations (in dollars per share) $ (0.13) $ 0.15 $ 0.63 $ 1.14
Loss from discontinued operations (in dollars per share)
-Diluted (in dollars per share) $ (0.13) $ 0.15 $ 0.63 $ 1.14
[1] For the three and nine months ended September 30, 2016 and 2015, the effect of certain convertible units would have an anti-dilutive effect upon the calculation of Income/(loss) from continuing operations per share. Accordingly, the impact of such conversion has not been included in the determination of diluted earnings per share calculations. At September 30, 2016 and 2015, the Company had outstanding stock options that were not dilutive of 3,545,000 and 5,963,010, respectively.