3. Per 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 3.5 million and 4.8 million for the three months ended June 30, 2012 and 2011, respectively, and was approximately 1.4 million and 4.9 million for the six months ended June 30, 2012 and 2011, 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:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands, except per share amounts)	2012			2011			2012			2011
Earnings per share calculation – basic
Income (loss) from continuing operations attributable to common shareholders	$	21,763		$	(17,481	)	$	78,297		$	(10,978	)
Amount allocated to participating securities	(210		)	139			(1,099		)	36
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities	21,553			(17,342		)	77,198			(10,942		)
Income from discontinued operations, including gain on sale, attributable to common shareholders	—			884			32,224			1,667
Net income (loss) attributable to common shareholders, as adjusted	$	21,553		$	(16,458	)	$	109,422		$	(9,275	)

Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share	$	0.26		$	(0.24	)	$	0.95		$	(0.15	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	—			0.01			0.39			0.02
Net income (loss) attributable to common shareholders, as adjusted – per share	$	0.26		$	(0.23	)	$	1.34		$	(0.13	)

Weighted average number of common shares outstanding – basic	83,223			72,343			81,554			72,126

Earnings per share calculation – diluted
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	21,553		$	(17,342	)	$	77,198		$	(10,942	)
Income allocated to common units from continuing operations	—			—			1,685			—
Income (loss) from continuing operations attributable to common shareholders, as adjusted	21,553			(17,342		)	78,883			(10,942		)
Income from discontinued operations, including gain on sale, attributable to common shareholders	—			884			32,224			1,667
Net income (loss) attributable to common shareholders, as adjusted	$	21,553		$	(16,458	)	$	111,107		$	(9,275	)

Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share	$	0.26		$	(0.24	)	$	0.94		$	(0.15	)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	—			0.01			0.38			0.02
Net income (loss) attributable to common shareholders, as adjusted – per share	$	0.26		$	(0.23	)	$	1.32		$	(0.13	)

Weighted average number of common shares outstanding – basic	83,223			72,343			81,554			72,126
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	623			—			652			—
Common units	—			—			2,255			—
Weighted average number of common shares outstanding – diluted	83,846			72,343			84,461			72,126