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Net Income Per Common Share (Tables) | 12 Months Ended
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Dec. 31, 2012
Net Income Per Common Share |
Schedule of basic and diluted net income per share | Basic and diluted net income per share was as follows (in thousands except per share amounts):
|  | For the year ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Income from continuing operations |  | $ | 51,311 |  | $ | 49,542 |  | $ | 45,595 |
Less net income allocated to non-controlling interests |  |  | (37 | ) |  | (191 | ) |  | (191 | )
Less net income allocated to participating securities: |  |  |  |  |  |  |  |  |  |
Non-forfeitable dividends on participating securities |  |  | (377 | ) |  | (342 | ) |  | (230 | )
Total net income allocated to participating securities |  |  | (377 | ) |  | (342 | ) |  | (230 | )
Less net income allocated to preferred stockholders: |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  | (3,273 | ) |  | (5,512 | ) |  | (13,662 | )
Preferred stock redemption charge |  |  | — |  |  | (3,566 | ) |  | (2,383 | )
Total net income allocated to preferred stockholders |  |  | (3,273 | ) |  | (9,078 | ) |  | (16,045 | )
Income from continuing operations available to common stockholders |  |  | 47,624 |  |  | 39,931 |  |  | 29,129 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |
(Loss) gain from discontinued operations |  |  | — |  |  | (99 | ) |  | 148 |
Gain on sale of assets, net |  |  | 16 |  |  | — |  |  | 310 |
Total net income (loss) from discontinued operations |  |  | 16 |  |  | (99 | ) |  | 458 |
Net income available to common stockholders |  |  | 47,640 |  |  | 39,832 |  |  | 29,587 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Convertible preferred securities |  |  | — |  |  | — |  |  | 40 |
Total effect of dilutive securities |  |  | — |  |  | — |  |  | 40 |
Net income for diluted net income per share |  | $ | 47,640 |  | $ | 39,832 |  | $ | 29,627 |
Shares for basic net income per share |  |  | 30,238 |  |  | 29,194 |  |  | 24,495 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 40 |  |  | 28 |  |  | 23 |
Convertible preferred securities |  |  | — |  |  | — |  |  | 50 |
Total effect of dilutive securities |  |  | 40 |  |  | 28 |  |  | 73 |
Shares for diluted net income per share |  |  | 30,278 |  |  | 29,222 |  |  | 24,568 |
Basic net income per share |  | $ | 1.58 |  | $ | 1.36 |  | $ | 1.21 |
Diluted net income per share(1) |  | $ | 1.57 |  | $ | 1.36 |  | $ | 1.21 |
(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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