Income per Common Share of the Trust

12 Months Ended

Dec. 31, 2012

Income per Common Share of the Trust [Abstract]

Earnings Per Share [Text Block]

INCOME PER COMMON SHARE OF THE TRUST

The following table sets forth the computation of basic and diluted income per common share of the Trust (in thousands except per share amounts):

	2012					2011
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	123,945	116,863	$	1.06	$	115,653	114,755	$	1.00
Dilutive shares for long-term compensation plans	—		831			—		748
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	123,945		117,694	$	1.06	115,653		115,503	$	1.00
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	13,491		116,863	$	0.12	68,346		114,755	$	0.60
Dilutive shares for long-term compensation plans	—		831			—		748
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	13,491		117,694	$	0.11	68,346		115,503	$	0.59
Basic income per common share
Net income available to common shareholders	137,436		116,863	$	1.18	183,999		114,755	$	1.60
Dilutive shares for long-term compensation plans	—		831			—		748
Diluted income per common share
Net income available to common shareholders	$	137,436	117,694	$	1.17	$	183,999	115,503	$	1.59

	2010
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	104,522	112,924	$	0.92
Dilutive shares for long-term compensation plans	—		682
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	104,522		113,606	$	0.91
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	23,240		112,924	$	0.21
Dilutive shares for long-term compensation plans	—		682
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	23,240		113,606	$	0.21
Basic income per common share
Net income available to common shareholders	127,762		112,924	$	1.13
Dilutive shares for long-term compensation plans	—		682
Diluted income per common share
Net income available to common shareholders	$	127,762	113,606	$	1.12

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common share as the exercise price was higher than the average share price of the Company in 2012, 2011 and 2010 were 905,000, 1,685,000 and 1,433,000, respectively.

During the years ended December 31, 2012, 2011 and 2010, 841,000, 256,000 and 315,000 common shares, respectively, were issued upon the exercise of options.

During the years ended December 31, 2012, 2011 and 2010, individuals acquired 94,895, 119,987 and 82,621 common shares, respectively, in exchange for the same number of common units. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for the common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2012, 2011 and 2010, distributions per common share were $1.90 for each period.