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Earnings Per Common Share | 12 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Earnings per Common Share | EARNINGS PER COMMON SHARE We determine “Basic earnings per share” using the two-class method as our unvested restricted share awards and units have non-forfeitable rights to dividends, and are therefore considered participating securities. We compute basic earnings per share by dividing net income attributable to the controlling interest less the allocation of undistributed earnings to unvested restricted share awards and units by the weighted-average number of common shares outstanding for the period. We also determine “Diluted earnings per share” as the more dilutive of the two-class method or the treasury stock method with respect to the unvested restricted share awards. We further evaluate any other potentially dilutive securities at the end of the period and adjust the basic earnings per share calculation for the impact of those securities that are dilutive. Our dilutive earnings per share calculation includes the dilutive impact of employee stock options (prior to their expiration at December 31, 2014) based on the treasury stock method and our share based awards with performance conditions prior to the grant date and all market condition awards under the contingently issuable method. The dilutive earnings per share calculation also considers operating partnership units for the year ended December 31, 2013 under the if-converted method. We had no operating partnership units as of December 31, 2015 and 2014. We had a loss from continuing operations for the year ended December 31, 2013 and therefore diluted earnings per share is calculated in the same manner as basic earnings per share for that year. The computation of basic and diluted earnings per share for the three years ended December 31, 2015 was as follows (in thousands; except per share data):
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Numerator: |  |  |  |  |
Income (loss) from continuing operations | $ | 89,187 |  |  | $ | 5,070 |  |  | $ | (193 | )
Net loss attributable to noncontrolling interests | 553 |  |  |  |  | — |
Allocation of undistributed earnings to unvested restricted share awards and units to continuing operations | (269 | ) |  | 5 |  |  | — |
Adjusted income (loss) from continuing operations attributable to the controlling interests | 89,471 |  |  | 5,075 |  |  | (193 | )
Income from discontinued operations, including gain on sale of real estate, net of taxes | — |  |  | 106,531 |  |  | 37,539 |
Net loss attributable to noncontrolling interests |  |  | 38 |  |  | — |
Allocation of undistributed earnings to unvested restricted share awards and units to discontinued operations | — |  |  | (322 | ) |  | (415 | )
Adjusted income from discontinued operations attributable to the controlling interests | — |  |  | 106,247 |  |  | 37,124 |
Adjusted net income attributable to the controlling interests | $ | 89,471 |  |  | $ | 111,322 |  |  | $ | 36,931 |
Denominator: |  |  |  |  |
Weighted average shares outstanding – basic | 68,177 |  |  | 66,795 |  |  | 66,580 |
Effect of dilutive securities: |  |  |  |  |
Employee stock options and restricted share awards | 133 |  |  | 42 |  |  | — |
Weighted average shares outstanding – diluted | 68,310 |  |  | 66,837 |  |  | 66,580 |
Earnings per common share, basic: |  |  |  |  |
Continuing operations | $ | 1.31 |  |  | $ | 0.08 |  |  | $ | — |
Discontinued operations | — |  |  | 1.59 |  |  | 0.55 |
| $ | 1.31 |  |  | $ | 1.67 |  |  | $ | 0.55 |
Earnings per common share, diluted: |  |  |  |  |
Continuing operations | $ | 1.31 |  |  | $ | 0.08 |  |  | $ | — |
Discontinued operations | — |  |  | 1.59 |  |  | 0.55 |
| $ | 1.31 |  |  | $ | 1.67 |  |  | $ | 0.55 |
Dividends declared per common share | $ | 1.20 |  |  | $ | 1.20 |  |  | $ | 1.20 |

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