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Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and six months ended June 30, 2012 and 2011:
 
Three months ended June 30,
 
Six months ended June 30,
 
2012
 
2011
 
2012
 
2011
BASIC AND DILUTED
 
 
 
 
 
 
 
Loss from continuing operations attributable to common shareholders
$
(3,925
)
 
$
(34,490
)
 
$
(5,207
)
 
$
(34,592
)
Income (loss) from discontinued operations attributable to common shareholders
533

 
(16,049
)
 
(372
)
 
(39,585
)
Net loss attributable to common shareholders
$
(3,392
)
 
$
(50,539
)
 
$
(5,579
)
 
$
(74,177
)
Weighted-average number of common shares outstanding
154,558,380

 
151,526,956

 
154,353,707

 
148,866,015

Income (loss) per common share:
 

 
 

 
 

 
 

Loss from continuing operations
$
(0.02
)
 
$
(0.23
)
 
$
(0.04
)
 
$
(0.23
)
Income (loss) from discontinued operations
—

 
(0.10
)
 
—

 
(0.27
)
Net loss attributable to common shareholders
$
(0.02
)
 
$
(0.33
)
 
$
(0.04
)
 
$
(0.50
)

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.
During the six months ended June 30, 2012, the Company redeemed all outstanding shares of its 8.05% Series B Cumulative Redeemable Preferred Stock at par plus all accrued and unpaid dividends, for an aggregate redemption cost of $69,459. The redemption generated a $2,346 deemed dividend. Accordingly, net income was adjusted for this deemed dividend to arrive at net loss attributable to common shareholders.

During the six months ended June 30, 2012 and 2011, the Company repurchased and retired 34,800 and 15,296 shares, respectively, of its 6.50% Series C Cumulative Convertible Preferred Stock at an aggregate discount of $229 and $86, respectively, to the historical cost basis. This discount constitutes a deemed negative dividend, offsetting other dividends, and is accretive to common shareholders. Accordingly, net income (loss) was adjusted for these dividends to arrive at net loss attributable to common shareholders.