Taxable Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Taxable Income

The following table reconciles the Company’s consolidated net income (loss) attributable to common stockholders to taxable income for the three and six months ended June 30, 2012 and 2011.

	Three Months Ended						Six Months Ended
(Dollars in thousands)	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Net income (loss) attributable to common stockholders	$	2,908		$	2,011		$	6,042		$	(3,778	)
Reconciling items to taxable income:
Depreciation and amortization	6,557			4,194			13,500			9,519
Gain or loss on disposition of depreciable assets	1,251			78			(4,357		)	(2,098		)
Straight-line rent	(1,434		)	(1,009		)	(3,244		)	(2,149		)
Receivable allowances	109			324			(371		)	720
Stock-based compensation	1,443			1,298			2,632			2,684
Other	2,246			5,955			7,505			7,044
Taxable income (1)	$	13,080		$	12,851		$	21,707		$	11,942
Dividends paid	$	23,398		$	22,325		$	46,785		$	42,570

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⁽¹⁾ Before REIT dividends paid deduction.

State Income Taxes

State income tax expense and payments for the three and six months ended June 30, 2012 and 2011 are detailed in the table below.

	Three Months Ended					Six Months Ended
(Dollars in thousands)	June 30, 2012		June 30, 2011			June 30, 2012			June 30, 2011
State income tax expense:
Texas gross margins tax	$	118	$	108		$	261		$	227
Other	29		(126		)	(42		)	(83		)
Total state income tax expense	$	147	$	(18	)	$	219		$	144
State income tax payments, net	$	523	$	481		$	547		$	503