| Computation Of Basic And Diluted EPS |
The components of the computation of basic and diluted EPS were as follows: | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2014 | | 2013 | | 2012 | (In thousands except share amounts) | | | | | | | Net increase in shareholders' equity resulting from operations | | $ | 59,167 |
| | $ | 78,524 |
| | $ | 97,146 |
| Add: Net increase in equity resulting from operations attributable to the participating non-controlling interest(1) | | 472 |
| | 735 |
| | — |
| Net increase in equity resulting from operations related to common shares, LTIP unit holders, and participating non-controlling interest | | 59,639 |
| | 79,259 |
| | 97,146 |
| Net increase in shareholders' equity resulting from operations available to common share and LTIP unit holders: | | | | | | | Net increase in shareholders' equity resulting from operations– common shares | | 58,306 |
| | 77,219 |
| | 95,064 |
| Net increase in shareholders' equity resulting from operations– LTIP units | | 861 |
| | 1,305 |
| | 2,082 |
| Dividends Paid(2): | | | | | | | Common shareholders | | (84,527 | ) | | (89,732 | ) | | (46,433 | ) | LTIP unit holders | | (1,269 | ) | | (1,524 | ) | | (979 | ) | Non-controlling interest | | (653 | ) | | (811 | ) | | — |
| Total dividends paid to common shareholders, LTIP unit holders, and non-controlling interest | | (86,449 | ) | | (92,067 | ) | | (47,412 | ) | Undistributed (Distributed in excess of) earnings: | | | | | | | Common shareholders | | (26,221 | ) | | (12,513 | ) | | 48,631 |
| LTIP unit holders | | (408 | ) | | (219 | ) | | 1,103 |
| Non-controlling interest | | (181 | ) | | (76 | ) | | — |
| Total undistributed (distributed in excess of) earnings attributable to common shareholders, LTIP unit holders, and non-controlling interest | | $ | (26,810 | ) | | $ | (12,808 | ) | | $ | 49,734 |
| Weighted average shares outstanding (basic and diluted): | | | | | | | Weighted average common shares outstanding | | 27,962,304 |
| | 23,587,692 |
| | 17,897,996 |
| Weighted average participating LTIP units | | 413,105 |
| | 398,789 |
| | 391,944 |
| Weighted average non-controlling interest units | | 212,000 |
| | 212,000 |
| | — |
| Basic earnings per common share: | | | | | | | Distributed | | $ | 3.08 |
| | $ | 3.83 |
| | $ | 2.50 |
| Undistributed (Distributed in excess of) | | (0.99 | ) | | (0.55 | ) | | 2.81 |
| | | $ | 2.09 |
| | $ | 3.28 |
| | $ | 5.31 |
| Diluted earnings per common share: | | | | | | | Distributed | | $ | 3.08 |
| | $ | 3.83 |
| | $ | 2.50 |
| Undistributed (Distributed in excess of) | | (0.99 | ) | | (0.55 | ) | | 2.81 |
| | | $ | 2.09 |
| | $ | 3.28 |
| | $ | 5.31 |
|
| | (1) | For the years ended December 31, 2014 and 2013, excludes net increase in equity resulting from operations of $0.3 million and $0.1 million, respectively attributable to the joint venture partner, which has non-participating interests as described in Note 9. |
| | (2) | The Company pays quarterly dividends in arrears, so a portion of the dividends paid in each calendar year relate to the prior year's earnings. |
|