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Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

8. Earnings Per Share

The following table reconciles the numerators and denominators used in the computations of basic and diluted earnings per share from continuing operations (in thousands, except per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2015

 

 

2014

 

Numerator:

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

49,330

 

 

$

21,959

 

Less: Net income attributable to noncontrolling  interests

 

 

747

 

 

 

746

 

Less: Preferred stock dividends

 

 

—

 

 

 

9,146

 

Net income from continuing operations available

   to common shareholders, basic and diluted

 

$

48,583

 

 

$

12,067

 

Denominator:

 

 

 

 

 

 

 

 

Basic weighted-average common shares outstanding

 

 

269,184

 

 

 

178,702

 

Add: Dilutive effect of stock options and restricted stock awards

 

 

7,504

 

 

 

9,025

 

Diluted weighted-average common shares outstanding

 

 

276,688

 

 

 

187,727

 

Earnings per share from continuing operations:

 

 

 

 

 

 

 

 

Basic

 

$

0.18

 

 

$

0.07

 

Diluted

 

$

0.18

 

 

$

0.06

 

 

Basic earnings per share are based on the weighted-average number of common shares outstanding during each period. Diluted earnings per share are based on the weighted-average number of common shares outstanding plus the effect of all dilutive common stock equivalents during each period. The calculation of diluted weighted-average shares excludes the impact of 1 million common stock equivalents for the three months ended March 31, 2015 as the inclusion would have been antidilutive.