Income per Common Share of the Trust

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings common share of the Trust [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):

	2015					2014
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	238,039	148,243	$	1.61	$	170,471	147,216	$	1.16
Dilutive shares for long-term compensation plans	—		600			—		670
Income from continuing operations net of noncontrolling interest - diluted	$	238,039	148,843	$	1.60	$	170,471	147,886	$	1.15
Discontinued operations net of noncontrolling interest - basic	$	—	148,243	$	—	$	47,439	147,216	$	0.32
Dilutive shares for long-term compensation plans	—		600			—		670
Discontinued operations net of noncontrolling interest - diluted	$	—	148,843	$	—	$	47,439	147,886	$	0.32
Net income available to common shareholders - basic	$	238,039	148,243	$	1.61	$	217,910	147,216	$	1.48
Dilutive shares for long-term compensation plans	—		600			—		670
Net income available to common shareholders - diluted	$	238,039	148,843	$	1.60	$	217,910	147,886	$	1.47

	2013
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	91,274	130,180	$	0.70
Dilutive shares for long-term compensation plans	—		729
Income from continuing operations net of noncontrolling interest - diluted	$	91,274	130,909	$	0.70
Discontinued operations net of noncontrolling interest - basic	$	118,464	130,180	$	0.91
Dilutive shares for long-term compensation plans	—		729
Discontinued operations net of noncontrolling interest - diluted	$	118,464	130,909	$	0.90
Net income available to common shareholders - basic	$	209,738	130,180	$	1.61
Dilutive shares for long-term compensation plans	—		729
Net income available to common shareholders - diluted	$	209,738	130,909	$	1.60

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 2015, 2014 and 2013 were 1.5 million, 850,000 and 959,000, respectively.

During the years ended December 31, 2015, 2014 and 2013, 65,000, 44,000 and 504,000 common shares, respectively, were issued upon the exercise of options.

During the years ended December 31, 2015, 2014 and 2013, individuals acquired 14,491, 3,000 and 157,285 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, 2015, 2014 and 2013, distributions per common share were $1.90 for each period.