Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share and Earnings per Unit

Earnings per Share of the Company

Basic earnings per share (“EPS”) is computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS assumes the issuance of common stock for all potential dilutive common shares outstanding. The limited partners’ rights to convert their noncontrolling interests in the Operating Partnership into shares of common stock are not dilutive.

The following summarizes the impact of potential dilutive common shares on the denominator used to compute EPS:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Denominator – basic	169,906	158,689	166,048	152,721
Stock options	—	—	—	2
Deemed shares related to deferred compensation arrangements	—	42	—	42
Denominator – diluted	169,906	158,731	166,048	152,765

There were no outstanding stock options in 2013. There were no anti-dilutive shares related to stock options for the three and nine month periods ended September 30, 2012.

Earnings per Unit of the Operating Partnership

Basic earnings per unit (“EPU”) is computed by dividing net income attributable to common unitholders by the weighted-average number of common units outstanding for the period. Diluted EPU assumes the issuance of common units for all potential dilutive common units outstanding.

The following summarizes the impact of potential dilutive common units on the denominator used to compute EPU:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Denominator – basic	199,451	190,195	195,594	190,182
Stock options	—	—	—	2
Deemed units related to deferred compensation arrangements	—	41	—	42
Denominator – diluted	199,451	190,236	195,594	190,226

There were no outstanding stock options in 2013. There were no anti-dilutive units related to stock options for the three and nine month periods ended September 30, 2012.