Earnings Per Common Share

Earnings per Common Share are based on the weighted average number of common shares outstanding during each year. Codification Topic "Earnings Per Share" ("FASB ASC 260") defines the calculation of basic and fully diluted earnings per share. Basic and fully diluted earnings per share are based on the weighted average shares outstanding during each year and basic earnings per share exclude any dilutive effects of options, unvested restricted shares and convertible securities. The conversion of OP Units has been excluded from the basic earnings per share calculation. The conversion of an OP Unit for a share of common stock has no material effect on earnings per common share on a fully diluted basis.

On July 15, 2013, we effected a two-for-one stock split of our common stock, by and in the form of a stock dividend that was paid to stockholders of record on July 5, 2013. Each common shareholder of record on July 5, 2013, received one additional share of common stock for each share held and our historical Consolidated Financial Statements for periods prior to this date were adjusted retroactively to reflect the stock split. The incremental par value was recorded as an increase to the common stock account on our balance sheet to reflect the newly issued shares and such amount was offset by a reduction in the paid-in capital account on our balance sheet. Pursuant to the anti-dilution provision in the Operating Partnership's Agreement of Limited Partnership, the stock split also affected the common OP Units.

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2015, 2014 and 2013 (amounts in thousands, except per share data):



	Years Ended December 31,
	2015			2014			2013
Numerators:
Income from Continuing Operations:
Income from continuing operations	$	150,512		$	138,468		$	77,247
Amounts allocated to dilutive securities	(11,141		)	(10,463		)	(5,617		)
Preferred Stock distributions	(9,226		)	(9,274		)	(9,280		)
Income from continuing operations available to Common Stockholders – basic	130,145			118,731			62,350
Amounts allocated to dilutive securities	11,141			10,463			5,617
Income from continuing operations available to Common Stockholders – fully diluted	$	141,286		$	129,194		$	67,967
Income from Discontinued Operations:
Income from discontinued operations, net of amounts allocated to dilutive securities	$	—		$	—		$	44,569
Net Income Available for Common Stockholders:
Net income available for Common Stockholders—basic	$	130,145		$	118,731		$	106,919
Amounts allocated to dilutive securities	11,141			10,463			9,706
Net income available for Common Stockholders—fully diluted	$	141,286		$	129,194		$	116,625
Denominator:
Weighted average Common Stockholders outstanding—basic	84,031			83,362			83,018
Effect of dilutive securities:
Redemption of Common OP Units for Common Stockholders	7,216			7,411			7,549
Stock options and restricted Stockholders	660			738			629
Weighted average Common Stockholders outstanding—fully diluted	91,907			91,511			91,196

Earnings per Common Share—Basic:
Income from continuing operations	$	1.55		$	1.42		$	0.75
Income from discontinued operations	—			—			0.54
Net income available for Common Stockholders	$	1.55		$	1.42		$	1.29

Earnings per Common Share—Fully Diluted:
Income from continuing operations	$	1.54		$	1.41		$	0.75
Income from discontinued operations	—			—			0.53
Net income available for Common Stockholders	$	1.54		$	1.41		$	1.28