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Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of reconciliation of numerator and denominator of earnings per share calculations

The following table provides a reconciliation of the numerator and denominator of earnings per share calculations (dollars in thousands, except per share calculations):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Numerator for basic and diluted earnings per share:
Income from continuing operations	$	3,106		$	2,643		$	9,543		$	9,061
Less net income attributable to noncontrolling interests	(6		)	—			(13		)	—
Less earnings allocated to unvested shares	—			(115		)	—			(345		)
Income from continuing operations available for common stockholders	3,100			2,528			9,530			8,716
Discontinued operations	15,314			122			17,856			1,578
Net income available for common stockholders, basic and diluted	$	18,414		$	2,650		$	27,386		$	10,294

Denominator for basic earnings per share
- weighted average common shares	14,443			14,143			14,370			13,663
- weighted average unvested restricted stock shares (a)	408			—			412			—
	14,851			14,143			14,782			13,663
Effect of diluted securities
- restricted stock units awarded under Pay-for-Performance program	100			—			100			—
Denominator for diluted earnings per share
- weighted average shares	14,951			14,143			14,882			13,663

Earnings per common share, basic	$	1.24		$	.19		$	1.85		$	.75
Earnings per common share, diluted	$	1.23		$	.19		$	1.84		$	.75

Amounts attributable to One Liberty Properties, Inc. common stockholders, net of noncontrolling interests:
Income from continuing operations	$	3,100		$	2,643		$	9,530		$	9,061
Income from discontinued operations	15,314			122			17,856			1,578

Net income	$	18,414		$	2,765		$	27,386		$	10,639

(a) The three and nine months ended September 30, 2012 include unvested restricted stock since the earnings are in excess of the distributions for such periods.