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Net Income Per Common Share | 12 Months Ended
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Dec. 31, 2013
Net Income Per Common Share |
Net Income Per Common Share | 14. Net Income Per Common Share Basic and diluted net income per share was as follows (in thousands except per share amounts):
|  | For the year ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
Income from continuing operations |  | $ | 55,405 |  | $ | 50,306 |  | $ | 48,620 |
Less net income allocated to non-controlling interests |  |  | — |  |  | (37 | ) |  | (191 | )
Less net income allocated to participating securities: |  |  |  |  |  |  |  |  |  |
Non-forfeitable dividends on participating securities |  |  | (381 | ) |  | (377 | ) |  | (342 | )
Income allocated to participating securities |  |  | (2 | ) |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net income allocated to participating securities |  |  | (383 | ) |  | (377 | ) |  | (342 | )
Less net income allocated to preferred stockholders: |  |  |  |  |  |  |  |  |  |
Preferred stock dividends |  |  | (3,273 | ) |  | (3,273 | ) |  | (5,512 | )
Preferred stock redemption charge |  |  | — |  |  | — |  |  | (3,566 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net income allocated to preferred stockholders |  |  | (3,273 | ) |  | (3,273 | ) |  | (9,078 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from continuing operations available to common stockholders |  |  | 51,749 |  |  | 46,619 |  |  | 39,009 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |
Income from discontinued operations |  |  | 805 |  |  | 1,005 |  |  | 823 |
Gain on sale of assets, net |  |  | 1,605 |  |  | 16 |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net income from discontinued operations |  |  | 2,410 |  |  | 1,021 |  |  | 823 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income available to common stockholders |  |  | 54,159 |  |  | 47,640 |  |  | 39,832 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Convertible preferred securities |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total effect of dilutive securities |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income for diluted net income per share |  | $ | 54,159 |  | $ | 47,640 |  | $ | 39,832 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares for basic net income per share |  |  | 33,111 |  |  | 30,238 |  |  | 29,194 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 31 |  |  | 40 |  |  | 28 |
Convertible preferred securities |  |  | — |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total effect of dilutive securities |  |  | 31 |  |  | 40 |  |  | 28 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares for diluted net income per share |  |  | 33,142 |  |  | 30,278 |  |  | 29,222 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic net income per share |  | $ | 1.64 |  | $ | 1.58 |  | $ | 1.36 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted net income per share(1) |  | $ | 1.63 |  | $ | 1.57 |  | $ | 1.36 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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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