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Earnings Per Share | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the years ended December 31, 2015, 2014 and 2013 (amounts in thousands except per share information):
| Year Ended December 31, 2015
| Income (numerator) |  | Shares (denominator) |  | Per Share Amount
Basic EPS: |  |  |  |  |
Income from continuing operations | $ | 194,333 |  |  |  |  |
Less: preferred dividend requirements | (23,806 | ) |  |  |  |
Income from continuing operations available to common shareholders | $ | 170,527 |  |  | 58,138 |  |  | $ | 2.93 |
Income from discontinued operations available to common shareholders | $ | 199 |  |  | 58,138 |  |  | $ | 0.01 |
Net income available to common shareholders | $ | 170,726 |  |  | 58,138 |  |  | $ | 2.94 |
Diluted EPS: |  |  |  |  |
Income from continuing operations available to common shareholders | $ | 170,527 |  |  | 58,138 |  |  |
Effect of dilutive securities: |  |  |  |  |
Share options | — |  |  | 190 |  |  |
Income from continuing operations available to common shareholders | $ | 170,527 |  |  | 58,328 |  |  | $ | 2.92 |
Income from discontinued operations available to common shareholders | $ | 199 |  |  | 58,328 |  |  | $ | 0.01 |
Net income available to common shareholders | $ | 170,726 |  |  | 58,328 |  |  | $ | 2.93 |
| Year Ended December 31, 2014
| Income (numerator) |  | Shares (denominator) |  | Per Share Amount
Basic EPS: |  |  |  |  |
Income from continuing operations | $ | 175,752 |  |  |  |  |
Less: preferred dividend requirements | (23,807 | ) |  |  |  |
Income from continuing operations available to common shareholders | $ | 151,945 |  |  | 54,244 |  |  | $ | 2.80 |
Income from discontinued operations available to common shareholders | $ | 3,881 |  |  | 54,244 |  |  | $ | 0.07 |
Net income available to common shareholders | $ | 155,826 |  |  | 54,244 |  |  | $ | 2.87 |
Diluted EPS: |  |  |  |  |
Income from continuing operations available to common shareholders | $ | 151,945 |  |  | 54,244 |  |  |
Effect of dilutive securities: |  |  |  |  |
Share options | — |  |  | 200 |  |  |
Income from continuing operations available to common shareholders | $ | 151,945 |  |  | 54,444 |  |  | $ | 2.79 |
Income from discontinued operations available to common shareholders | $ | 3,881 |  |  | 54,444 |  |  | $ | 0.07 |
Net income available to common shareholders | $ | 155,826 |  |  | 54,444 |  |  | $ | 2.86 |
| Year Ended December 31, 2013
| Income (numerator) |  | Shares (denominator) |  | Per Share Amount
Basic EPS: |  |  |  |  |
Income from continuing operations | $ | 175,637 |  |  |  |  |
Less: preferred dividend requirements and redemption costs | (23,806 | ) |  |  |  |
Income from continuing operations available to common shareholders | $ | 151,831 |  |  | 48,028 |  |  | $ | 3.16 |
Loss from discontinued operations available to common shareholders | $ | 4,589 |  |  | 48,028 |  |  | $ | 0.10 |
Net income available to common shareholders | $ | 156,420 |  |  | 48,028 |  |  | $ | 3.26 |
Diluted EPS: |  |  |  |  |
Income from continuing operations available to common shareholders | $ | 151,831 |  |  | 48,028 |  |  |
Effect of dilutive securities: |  |  |  |  |
Share options | — |  |  | 186 |  |  |
Income from continuing operations available to common shareholders | $ | 151,831 |  |  | 48,214 |  |  | $ | 3.15 |
Loss from discontinued operations available to common shareholders | $ | 4,589 |  |  | 48,214 |  |  | $ | 0.09 |
Net income available to common shareholders | $ | 156,420 |  |  | 48,214 |  |  | $ | 3.24 |
The additional 1.9 million common shares that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares and the additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the years ended December 31, 2015, 2014 and 2013 because the effect is anti-dilutive. The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the years ended December 31, 2015, 2014 and 2013. However, options to purchase 236 thousand, 338 thousand and 331 thousand shares of common shares at per share prices ranging from $51.64 to $65.50, $46.86 to $65.50 and $45.20 to $65.50, were outstanding at the end of 2015, 2014 and 2013, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.

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