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Earnings Per Share and Per Unit | 9 Months Ended
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Sep. 30, 2015
Earnings Per Share [Abstract] |
Earnings Per Share and Per Unit | Earnings Per Share and Per Unit The following table sets forth the computation of basic and diluted earnings per share of the Company:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Earnings per Common Share - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 31,617 |  |  | $ | 54,299 |  |  | $ | 79,343 |  |  | $ | 92,003 |
Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations | (918 | ) |  | (1,673 | ) |  | (2,296 | ) |  | (2,801 | )
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations | (324 | ) |  | (291 | ) |  | (948 | ) |  | (1,152 | )
Dividends on Preferred Stock | (626 | ) |  | (627 | ) |  | (1,879 | ) |  | (1,881 | )
Income from continuing operations available for common stockholders | 29,749 |  |  | 51,708 |  |  | 74,220 |  |  | 86,169 |
Income from discontinued operations | — |  |  | — |  |  | — |  |  | 384 |
Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations | — |  |  | — |  |  | — |  |  | (12 | )
Income from discontinued operations available for common stockholders | — |  |  | — |  |  | — |  |  | 372 |
Net income available for common stockholders | $ | 29,749 |  |  | $ | 51,708 |  |  | $ | 74,220 |  |  | $ | 86,541 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares | 94,693 |  |  | 90,668 |  |  | 93,996 |  |  | 90,299 |
Earnings per Common Share - basic: |  |  |  |  |  |  |
Income from continuing operations available for common stockholders | $ | 0.31 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Income from discontinued operations available for common stockholders | — |  |  | — |  |  | — |  |  | — |
Net income available for common stockholders | $ | 0.31 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Earnings per Common Share - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 31,617 |  |  | $ | 54,299 |  |  | $ | 79,343 |  |  | $ | 92,003 |
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations | (324 | ) |  | (291 | ) |  | (948 | ) |  | (1,152 | )
Dividends on Preferred Stock | (626 | ) |  | (627 | ) |  | (1,879 | ) |  | (1,881 | )
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | 30,667 |  |  | 53,381 |  |  | 76,516 |  |  | 88,970 |
Income from discontinued operations available for common stockholders | — |  |  | — |  |  | — |  |  | 384 |
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 30,667 |  |  | $ | 53,381 |  |  | $ | 76,516 |  |  | $ | 89,354 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Share – weighted average shares | 94,693 |  |  | 90,668 |  |  | 93,996 |  |  | 90,299 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | 58 |  |  | 118 |  |  | 89 |  |  | 121 |
Noncontrolling interests Common Units | 2,910 |  |  | 2,937 |  |  | 2,918 |  |  | 2,938 |
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1) (2) | 97,661 |  |  | 93,723 |  |  | 97,003 |  |  | 93,358 |
Earnings per Common Share - diluted: |  |  |  |  |  |  |
Income from continuing operations available for common stockholders | $ | 0.31 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Income from discontinued operations available for common stockholders | — |  |  | — |  |  | — |  |  | — |
Net income available for common stockholders | $ | 0.31 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
__________
13. | Earnings Per Share and Per Unit - Continued
(1) | There were 0.2 million options outstanding during both the three and nine months ended September 30, 2015 that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive. There were no such options outstanding during both the three and nine months ended September 30, 2014.
(2) | Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Earnings per Common Unit - basic: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 31,617 |  |  | $ | 54,299 |  |  | $ | 79,343 |  |  | $ | 92,003 |
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations | (324 | ) |  | (291 | ) |  | (948 | ) |  | (1,152 | )
Distributions on Preferred Units | (626 | ) |  | (627 | ) |  | (1,879 | ) |  | (1,881 | )
Income from continuing operations available for common unitholders | 30,667 |  |  | 53,381 |  |  | 76,516 |  |  | 88,970 |
Income from discontinued operations available for common unitholders | — |  |  | — |  |  | — |  |  | 384 |
Net income available for common unitholders | $ | 30,667 |  |  | $ | 53,381 |  |  | $ | 76,516 |  |  | $ | 89,354 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units | 97,194 |  |  | 93,196 |  |  | 96,505 |  |  | 92,828 |
Earnings per Common Unit - basic: |  |  |  |  |  |  |
Income from continuing operations available for common unitholders | $ | 0.32 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Income from discontinued operations available for common unitholders | — |  |  | — |  |  | — |  |  | — |
Net income available for common unitholders | $ | 0.32 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Earnings per Common Unit - diluted: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 31,617 |  |  | $ | 54,299 |  |  | $ | 79,343 |  |  | $ | 92,003 |
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations | (324 | ) |  | (291 | ) |  | (948 | ) |  | (1,152 | )
Distributions on Preferred Units | (626 | ) |  | (627 | ) |  | (1,879 | ) |  | (1,881 | )
Income from continuing operations available for common unitholders | 30,667 |  |  | 53,381 |  |  | 76,516 |  |  | 88,970 |
Income from discontinued operations available for common unitholders | — |  |  | — |  |  | — |  |  | 384 |
Net income available for common unitholders | $ | 30,667 |  |  | $ | 53,381 |  |  | $ | 76,516 |  |  | $ | 89,354 |
Denominator: |  |  |  |  |  |  |
Denominator for basic earnings per Common Unit – weighted average units | 97,194 |  |  | 93,196 |  |  | 96,505 |  |  | 92,828 |
Add: |  |  |  |  |  |  |
Stock options using the treasury method | 58 |  |  | 118 |  |  | 89 |  |  | 121 |
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1) (2) | 97,252 |  |  | 93,314 |  |  | 96,594 |  |  | 92,949 |
Earnings per Common Unit - diluted: |  |  |  |  |  |  |
Income from continuing operations available for common unitholders | $ | 0.32 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
Income from discontinued operations available for common unitholders | — |  |  | — |  |  | — |  |  | — |
Net income available for common unitholders | $ | 0.32 |  |  | $ | 0.57 |  |  | $ | 0.79 |  |  | $ | 0.96 |
__________
(1) | There were 0.2 million options outstanding during both the three and nine months ended September 30, 2015 that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive. There were no such options outstanding during both the three and nine months ended September 30, 2014.
(2) | Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

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