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Interim Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Interim Financial Statements [Abstract]

Schedule of reconciliation of earnings and the weighted average number of shares

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Computation of Basic Earnings Per Share:
Income from continuing operations	$	101,110		$	128,989		$	381,869		$	204,598
Gain on sale of operating properties, net of tax		26,499			389			58,554			389
Net income attributable to noncontrolling interests		(609	)		(2,438	)		(3,006	)		(11,298	)
Discontinued operations attributable to noncontrolling interests		-			815			-			7,429
Preferred stock dividends		(14,573	)		(14,573	)		(29,146	)		(29,147	)
Income from continuing operations available to the common shareholders		112,427			113,182			408,271			171,971
Earnings attributable to participating securities		(458	)		(501	)		(1,940	)		(819	)
Income from continuing operations attributable to common shareholders		111,969			112,681			406,331			171,152
Loss from discontinued operations attributable to the Company		-			(38,243	)		(75	)		(24,606	)
Net income attributable to the Company’s common shareholders for basic earnings per share	$	111,969		$	74,438		$	406,256		$	146,546

Weighted average common shares outstanding		411,317			408,902			411,057			408,636

Basic Earnings Per Share Attributable to the Company’s Common Shareholders:
Income from continuing operations	$	0.27		$	0.28		$	0.99		$	0.42
Loss from discontinued operations		-			(0.10	)		-			(0.06	)
Net income attributable to the Company	$	0.27		$	0.18		$	0.99		$	0.36

Computation of Diluted Earnings Per Share:
Income from continuing operations attributable to common shareholders	$	111,969		$	112,681		$	406,331		$	171,152
Loss from discontinued operations attributable to the Company		-			(38,243	)		(75	)		(24,606	)
Distributions on convertible units		139			721			373			262
Net income attributable to the Company’s common shareholders for diluted earnings per share	$	112,108		$	75,159		$	406,629		$	146,808

Weighted average common shares outstanding – basic		411,317			408,902			411,057			408,636
Effect of dilutive securities (a): Equity awards		1,103			2,923			1,281			1,046
Assumed conversion of convertible units		666			1,519			810			727
Shares for diluted earnings per common share		413,086			413,344			413,148			410,409

Diluted Earnings Per Share Attributable to the Company’s Common Shareholders:
Income from continuing operations	$	0.27		$	0.27		$	0.98		$	0.42
Loss from discontinued operations		-			(0.09	)		-			(0.06	)
Net income attributable to the Company	$	0.27		$	0.18		$	0.98		$	0.36

(a)

For the three and six months ended June 30, 2015 and 2014, the effect of certain convertible units would have an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversion has not been included in the determination of diluted earnings per share calculations. Additionally, there were 6,802,560 and 8,952,148 stock options that were not dilutive at June 30, 2015 and 2014, respectively.