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Earnings per share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings per share

Note 11. Earnings per share

The following table reflects the computation of net loss per share on a basic and diluted basis for the years ended December 31, 2013 and 2012 (in thousands, except share information):

 

                                                                                            
     Years ended December 31,     Period from
June 23, 2011 to		  
     2013     2012     December 31, 2011  

Income / loss (numerator):

       

Loss from continuing operations

    $ (20,074 )    $ (10,236 )    $ (42 ) 

Income from discontinued operations

      1,008        —          —     

Noncontrolling interest

      13,245        —          —     

Dividends on preferred shares

      1,160        —          —     

Conversion of preferred units

      10,456        —          —     
  

 

 

    

 

 

    

 

 

  

Net loss attributable to common shareholders

    $ (43,927 )    $ (10,236 )    $ (42 ) 
  

 

 

    

 

 

    

 

 

  

Weighted-average shares (denominator):

       

Class A common shares issued in formation transactions

      3,301,000        3,301,000        3,301,000   

Class B common shares issued in formation transactions

      667        667        667   

Class A common shares issued in 2012 Offering

      35,362,998        3,923,845        —     

Class A common shares issued in 2013 Offering

      37,502,997        —          —     

Class B common shares issued in connection with 2,770 Property Contribution

      533,598        —          —     

Class A common shares issued to members of board of trustees

      6,802        —          —     

Class A common shares issued in settlement of subscription agreement

      309,708        —          —     

Class A common shares issued in connection with Alaska Joint Venture Acquisition

      24,373,470        —          —     

Class A common shares issued in connection with IPO

      17,888,799        —          —     

Class A common shares issued in connection with 2013 Concurrent Private Placements

      1,900,685        —          —     

Class A common shares issued in connection with IPO over-allotment exercise

      2,411,362        —          —     
  

 

 

    

 

 

    

 

 

  

Total weighted-average shares

      123,592,086        7,225,512        3,301,667   
  

 

 

    

 

 

    

 

 

  

Net loss per share- basic and diluted:

       

Loss from continuing operations

    $ (0.37 )    $ (1.42 )    $ (0.01 ) 

Income from discontinued operations

      0.01        —          —     
  

 

 

    

 

 

    

 

 

  

Net loss per share- basic and diluted

    $ (0.36 )    $ (1.42 )    $ (0.01 ) 
  

 

 

    

 

 

    

 

 

  

The Company accounted for the issuance of 3,301,000 Class A common shares and 667 Class B common shares associated with the initial contribution by the Sponsor in December 2012, as a formation transaction and has reflected these shares outstanding as of the earliest period presented.

Total weighted average shares for the years ended December 31, 2013 and 2012 shown above excludes an aggregate of 63,873,266 and 4,719,493 of shares or units in our Operating Partnership (see Note 7), respectively, the subscription agreement (see Note 7), and stock options (see Note 7) because they were antidilutive and not related to the formation of the Company.

Due to the inherent complexity of the accompanying consolidated financial statements as a result of the transactions completed between entities under common control (see Note 9), management does not consider the historical net loss per share computations to be meaningful.