Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Equity [Abstract]

Reconciliation of total equity

The following table provides a reconciliation of total stockholders' equity for the six months ended June 30, 2012:

(Dollars in thousands, except per share data)	Common Stock		Additional Paid-In Capital			Accumulated Other Comprehensive Loss			Cumulative Net Income		Cumulative Dividends			Total Stockholders’ Equity
Balance at Dec. 31, 2011	$	779	$	1,894,604		$	(3,332	)	$	795,951	$	(1,683,196	)	$	1,004,806
Issuance of common stock	1		523			—			—		—			524
Common stock redemption	—		(45		)	—			—		—			(45		)
Stock-based compensation	—		1,653			—			—		—			1,653
Net income attributable to common stockholders	—		—			—			6,042		—			6,042
Dividends to common stockholders ($0.60 per share)	—		—			—			—		(46,785		)	(46,785		)
Balance at June 30, 2012	$	780	$	1,896,735		$	(3,332	)	$	801,993	$	(1,729,981	)	$	966,195

Reconciliation of beginning and ending common stock outstanding

The following table provides a reconciliation of the beginning and ending common stock outstanding for the six months ended June 30, 2012 and the year ended December 31, 2011:

	Six Months Ended	Year Ended
	June 30, 2012	December 31, 2011
Balance, beginning of period	77,843,883	66,071,424
Issuance of common stock	30,182	11,681,392
Restricted stock-based awards, net of forfeitures	128,747	91,067
Balance, end of period	78,002,812	77,843,883

Earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2012 and 2011.

	Three Months Ended						Six Months Ended
(Dollars in thousands, except per share data)	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Weighted average Common Shares outstanding
Weighted average Common Shares outstanding	77,977,278			73,476,473			77,961,391			70,550,070
Unvested restricted stock	(1,515,012		)	(1,441,319		)	(1,516,904		)	(1,440,527		)
Weighted average Common Shares Outstanding—Basic	76,462,266			72,035,154			76,444,487			69,109,543
Weighted average Common Shares—Basic	76,462,266			72,035,154			76,444,487			69,109,543
Dilutive effect of restricted stock	1,127,522			1,045,698			1,108,456			—
Dilutive effect of employee stock purchase plan	122,705			68,380			125,419			—
Weighted average Common Shares Outstanding—Diluted	77,712,493			73,149,232			77,678,362			69,109,543
Net income (loss)
Income (loss) from continuing operations	$	2,433		$	1,292		$	4,190		$	(5,088	)
Noncontrolling interests’ share in net income	(20		)	—			(20		)	(27		)
Income (loss) from continuing operations attributable to common shareholders	2,413			1,292			4,170			(5,115		)
Discontinued operations	495			719			1,872			1,337
Net income (loss) attributable to common stockholders	$	2,908		$	2,011		$	6,042		$	(3,778	)
Basic Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	0.03		$	0.02		$	0.05		$	(0.07	)
Discontinued operations	0.01			0.01			0.03			0.02
Net income (loss) attributable to common stockholders	$	0.04		$	0.03		$	0.08		$	(0.05	)
Diluted Earnings (Loss) Per Common Share
Income (loss) from continuing operations	$	0.03		$	0.02		$	0.05		$	(0.07	)
Discontinued operations	0.01			0.01			0.03			0.02
Net income (loss) attributable to common stockholders	$	0.04		$	0.03		$	0.08		$	(0.05	)

Summary of the activity under the Incentive Plan

A summary of the activity under the restricted stock incentive plans for the three and six months ended June 30, 2012 and 2011 is included in the table below.

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Stock-based awards, beginning of period	1,518,512		1,436,811		1,430,675		1,379,243
Granted	27,864		27,400		131,089		106,569
Vested	(38,102	)	(16,000	)	(53,490	)	(26,675	)
Forfeited	—		—		—		(10,926	)
Stock-based awards, end of period	1,508,274		1,448,211		1,508,274		1,448,211

Summary of Employee Stock Purchase Plan activity

A summary of the activity under the Employee Stock Purchase Plan for the three and six months ended June 30, 2012 and 2011 is included in the table below.

	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Outstanding and exercisable, beginning of period	712,385		626,480		425,196		392,517
Granted	—		—		327,936		261,960
Exercised	(8,787	)	(2,654	)	(21,368	)	(7,245	)
Forfeited	(23,547	)	(9,376	)	(51,713	)	(32,782	)
Expired	(182,315	)	(166,207	)	(182,315	)	(166,207	)
Outstanding and exercisable, end of period	497,736		448,243		497,736		448,243