3. Share Data

Basic earnings per share are computed using net income (loss) attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 3.8 million, 4.8 million, and 4.9 million for the years ended December 31, 2011, 2010, and 2009, respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculation as they are anti-dilutive.

The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:

		September 30,			September 30,			September 30,
	Year Ended December 31,
(in thousands, except per share amounts)	2011			2010			2009
Earnings per share calculation – basic
Income (loss) from continuing operations attributable to common shareholders	$	22,546		$	8,242		$	(75,201	)
Amount allocated to participating securities		(551	)		(265	)		637

Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities		21,995			7,977			(74,564	)
Income from discontinued operations, including gain on sale, attributable to common shareholders		26,833			14,974			24,401

Net income (loss) attributable to common shareholders, as adjusted	$	48,828		$	22,951		$	(50,163	)


Income (loss) from continuing operations attributable to common shareholders,as adjusted – per share	$	0.30		$	0.11		$	(1.19	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share		0.37			0.22			0.39

Net income (loss) attributable to common shareholders, as adjusted – per share	$	0.67		$	0.33		$	(0.80	)


Weighted average number of common shares outstanding – basic		72,756			68,608			62,359

Earnings per share calculation – diluted
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	21,995		$	7,977		$	(74,564	)
Income allocated to common units		45			—			—

Income (loss) from continuing operations attributable to common shareholders, as adjusted		22,040			7,977			(74,564	)
Income from discontinued operations, including gain on sale, attributable to common shareholders		26,833			14,974			24,401

Net income (loss) attributable to common shareholders, as adjusted	$	48,873		$	22,951		$	(50,163	)


Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share	$	0.30		$	0.11		$	(1.19	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share		0.36			0.22			0.39

Net income (loss) attributable to common shareholders, as adjusted – per share	$	0.66		$	0.33		$	(0.80	)


Weighted average number of common shares outstanding – basic		72,756			68,608			62,359
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted		706			349			—
Common units		239			—			—

Weighted average number of common shares outstanding – diluted		73,701			68,957			62,359