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Net Income Per Common Share | 12 Months Ended
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Dec. 31, 2011
Net Income Per Common Share |
Net Income Per Common Share |
14. Net Income Per Common Share Basic and diluted net income per share were as follows (in thousands except per share amounts):
|  | For the year ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
Income from continuing operations |  | $ | 49,673 |  | $ | 45,860 |  | $ | 44,473 |
Less income allocated to non-controlling interests |  |  | (191 | ) |  | (191 | ) |  | (296 | )
Less income allocated to participating securities Non-forfeitable dividends on participating securities |  |  | (342 | ) |  | (230 | ) |  | (139 | )
Total income allocated to participating securities |  |  | (342 | ) |  | (230 | ) |  | (139 | )
Less income allocated to preferred stockholders: |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  | (5,512 | ) |  | (13,662 | ) |  | (15,141 | )
Preferred stock redemption charge |  |  | (3,566 | ) |  | (2,383 | ) |  | — |
Allocation of income from preferred stock buyback |  |  | — |  |  | — |  |  | 626 |
Total income allocated to preferred stockholders |  |  | (9,078 | ) |  | (16,045 | ) |  | (14,515 | )
Income from continuing operations allocable to common stockholders |  |  | 40,062 |  |  | 29,394 |  |  | 29,523 |
Add net income from discontinued operations: |  |  |  |  |  |  |  |  |  |
Loss from discontinued operations |  |  | (230 | ) |  | (117 | ) |  | (113 | )
Gain on sale of assets, net |  |  | — |  |  | 310 |  |  | — |
Total net income from discontinued operations |  |  | (230 | ) |  | 193 |  |  | (113 | )
Total net income allocable to common stockholders |  |  | 39,832 |  |  | 29,587 |  |  | 29,410 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Convertible preferred securities |  |  | — |  |  | 40 |  |  | 80 |
Total effect of dilutive securities |  |  | — |  |  | 40 |  |  | 80 |
Net income for diluted net income per share |  | $ | 39,832 |  | $ | 29,627 |  | $ | 29,490 |
Shares for basic net income per share |  |  | 29,194 |  |  | 24,495 |  |  | 23,099 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 28 |  |  | 23 |  |  | 8 |
Convertible preferred securities |  |  | — |  |  | 50 |  |  | 75 |
|  |  | 28 |  |  | 73 |  |  | 83 |
Shares for diluted net income per share |  |  | 29,222 |  |  | 24,568 |  |  | 23,182 |
Basic net income per common share |  | $ | 1.36 |  | $ | 1.21 |  | $ | 1.27 |
Diluted net income per common share(1) |  | $ | 1.36 |  | $ | 1.21 |  | $ | 1.27 |
(1) For each year, the Series C Cumulative Convertible Preferred Stock, the participating securities and the convertible non-controlling interests have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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