XML 36 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.8

EARNINGS PER SHARE (Tables) | 6 Months Ended
--- | ---
Oct. 31, 2014
EARNINGS PER SHARE [Abstract] |
Reconciliation of numerator and denominator used to calculate basic and diluted earnings per share | Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The Company has no outstanding options, warrants, convertible stock or other contractual obligations requiring issuance of additional shares that would result in dilution of earnings. Units can be exchanged for shares on a one-for-one basis after a minimum holding period of one year. The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the condensed consolidated financial statements for the three and six months ended October 31, 2014 and 2013:
| (in thousands, except per share data)
| Three Months Ended October 31 | Six Months Ended October 31
| 2014 | 2013 | 2014 | 2013
NUMERATOR |  |  |  |  |  |  |  |
Income from continuing operations – Investors Real Estate Trust | $ | 5,114 | $ | 4,334 | $ | 4,963 | $ | 6,918
Income from discontinued operations – Investors Real Estate Trust |  | 0 |  | 4,453 |  | 0 |  | 4,947
Net income attributable to Investors Real Estate Trust |  | 5,114 |  | 8,787 |  | 4,963 |  | 11,865
Dividends to preferred shareholders |  | (2,878) |  | (2,878) |  | (5,757) |  | (5,757)
Numerator for basic earnings per share – net income available to common shareholders |  | 2,236 |  | 5,909 |  | (794) |  | 6,108
Noncontrolling interests – Operating Partnership |  | 363 |  | 1,226 |  | (39) |  | 1,276
Numerator for diluted earnings per share | $ | 2,599 | $ | 7,135 | $ | (833) | $ | 7,384
DENOMINATOR |  |  |  |  |  |  |  |
Denominator for basic earnings per share weighted average shares |  | 117,034 |  | 104,861 |  | 114,033 |  | 103,606
Effect of convertible operating partnership units |  | 16,261 |  | 21,852 |  | 18,565 |  | 21,834
Denominator for diluted earnings per share |  | 133,295 |  | 126,713 |  | 132,598 |  | 125,440
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted | $ | .02 | $ | .01 | $ | (.01) | $ | .01
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted |  | .00 |  | .05 |  | .00 |  | .05
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED | $ | .02 | $ | .06 | $ | (.01) | $ | .06

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration