XML 40 R23.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings Per Share
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The table below sets forth the computation of basic and diluted earnings per common share for the three years in the period ended December 31, 2015.
 
Year Ended December 31,
(Dollars in thousands, except per share data)
2015

 
2014

 
2013

Weighted Average Common Shares
 
 
 
 
 
Weighted average Common Shares outstanding
100,280,059

 
97,093,960

 
92,725,112

Non-vested shares
(1,108,707
)
 
(1,814,734
)
 
(1,784,485
)
Weighted average Common Shares - Basic
99,171,352

 
95,279,226

 
90,940,627

Weighted average Common Shares - Basic
99,171,352

 
95,279,226

 
90,940,627

Dilutive effect of non-vested shares
623,212

 
1,364,236

 

Dilutive effect of employee stock purchase plan
85,738

 
115,948

 

Weighted average Common Shares - Diluted
99,880,302

 
96,759,410

 
90,940,627

Net Income (loss)
 
 
 
 
 
Income (loss) from continuing operations
$
58,836

 
$
33,979

 
$
(13,092
)
Noncontrolling interests’ share in earnings

 
(313
)
 
(37
)
Income (loss) from continuing operations attributable to common stockholders
58,836

 
33,666

 
(13,129
)
Discontinued operations
10,600

 
(1,779
)
 
20,075

Net income attributable to common stockholders
$
69,436

 
$
31,887

 
$
6,946

Basic Earnings (loss) Per Common Share
 
 
 
 
 
Income (loss) from continuing operations
$
0.59

 
$
0.35

 
$
(0.14
)
Discontinued operations
0.11

 
(0.02
)
 
0.22

Net income attributable to common stockholders
$
0.70

 
0.33

 
0.08

Diluted Earnings (loss) Per Common Share
 
 
 
 
 
Income (loss) from continuing operations
$
0.59

 
$
0.35

 
$
(0.14
)
Discontinued operations
0.11

 
(0.02
)
 
0.22

Net income attributable to common stockholders
$
0.70

 
$
0.33

 
$
0.08


For the year ended December 31, 2013, non-vested shares totaling 1,288,166 and options under the Employee Stock Purchase Plan to purchase shares totaling 157,733 of the Company’s common stock were excluded from the calculation of diluted earnings (loss) per common share because the effect was anti-dilutive due to the loss from continuing operations during this period.