3. Per Share Data

Basic earnings per share are computed using net income 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 2.2 million and 3.5 million for the three months ended June 30, 2013 and 2012, respectively, and was approximately 2.2 million and 2.5 million for the six months ended June 30, 2013 and 2012, 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)	2013			2012			2013			2012
Earnings per share calculation – basic
Income from continuing operations attributable to common shareholders	$	48,956		$	19,083		$	79,941		$	73,041
Amount allocated to participating securities	(696		)	(210		)	(1,335		)	(1,099		)
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	48,260			18,873			78,606			71,942
Income from discontinued operations, including gain on sale, attributable to common shareholders	23,216			2,680			55,707			37,480
Net income attributable to common shareholders, as adjusted	$	71,476		$	21,553		$	134,313		$	109,422

Income from continuing operations attributable to common shareholders, as adjusted – per share	$	0.55		$	0.23		$	0.90		$	0.88
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	0.27			0.03			0.64			0.46
Net income attributable to common shareholders, as adjusted – per share	$	0.82		$	0.26		$	1.54		$	1.34

Weighted average number of common shares outstanding – basic	87,191			83,223			86,949			81,554

Earnings per share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	48,260		$	18,873		$	78,606		$	71,942
Income allocated to common units from continuing operations	315			—			645			572
Income from continuing operations attributable to common shareholders, as adjusted	48,575			18,873			79,251			72,514
Income from discontinued operations, including gain on sale, attributable to common shareholders	23,216			2,680			55,707			37,480
Income from discontinued operations allocated to common units	—			—			—			784
Net income attributable to common shareholders, as adjusted	$	71,791		$	21,553		$	134,958		$	110,778



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in thousands, except per share amounts)	2013		2012		2013		2012
Earnings per share calculation – diluted (continued)
Income from continuing operations attributable to common shareholders, as adjusted – per share	$	0.55	$	0.23	$	0.90	$	0.87
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	0.26		0.03		0.63		0.46
Net income attributable to common shareholders, as adjusted – per share	$	0.81	$	0.26	$	1.53	$	1.33

Weighted average number of common shares outstanding – basic	87,191		83,223		86,949		81,554
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	467		623		519		652
Common units	814		—		815		1,127
Weighted average number of common shares outstanding – diluted	88,472		83,846		88,283		83,333