XML 93 R20.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Earnings Per Share | 3 Months Ended
--- | ---
Mar. 31, 2015
Earnings Per Share [Abstract] |
Earnings Per Share |
13. | Earnings Per Share
The following table provides a reconciliation of net loss from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):
| Three-Month Periods Ended March 31, |
| 2015 |  |  | 2014 |
Numerators – Basic and Diluted |  |  |  |  |  |  |
Continuing Operations: |  |  |  |  |  |  |
Loss from continuing operations | $ | (268,008 | ) |  | $ | (20,300 | )
Plus: Gain (loss) on disposition of real estate |  | 25,094 |  |  |  | (1,090 | )
Plus: Loss attributable to non-controlling interests |  | (873 | ) |  |  | (155 | )
Preferred dividends |  | (5,594 | ) |  |  | (6,608 | )
Less: Earnings attributable to unvested shares and operating partnership units |  | (437 | ) |  |  | (310 | )
Loss from continuing operations |  | (249,818 | ) |  |  | (28,463 | )
Discontinued Operations: |  |  |  |  |  |  |
Income from discontinued operations |  | — |  |  |  | 3,012 |
Plus: Income attributable to non-controlling interests |  | — |  |  |  | 1,893 |
Net loss attributable to common shareholders after allocation to participating securities | $ | (249,818 | ) |  | $ | (23,558 | )
Denominators – Number of Shares |  |  |  |  |  |  |
Basic and Diluted – Average shares outstanding |  | 359,818 |  |  |  | 357,634 |
Basic Earnings Per Share: |  |  |  |  |  |  |
Loss from continuing operations attributable to common shareholders | $ | (0.69 | ) |  | $ | (0.08 | )
Income from discontinued operations attributable to common shareholders |  | — |  |  |  | 0.01 |
Net loss attributable to common shareholders | $ | (0.69 | ) |  | $ | (0.07 | )
Diluted Earnings Per Share: |  |  |  |  |  |  |
Loss from continuing operations attributable to common shareholders | $ | (0.69 | ) |  | $ | (0.08 | )
Income from discontinued operations attributable to common shareholders |  | — |  |  |  | 0.01 |
Net loss attributable to common shareholders | $ | (0.69 | ) |  | $ | (0.07 | )
The following potentially dilutive securities were considered in the calculation of EPS: Potentially Dilutive Securities
· | The Company’s senior convertible notes due 2040 were not included in the computation of diluted EPS for all periods presented due to the Company’s loss from continuing operations. In accordance with the terms specified in the governing documents, the senior convertible notes are convertible into common shares of the Company during the subsequent quarter if the Company’s trading price exceeds 125% of the conversion rate ($14.85 at March 31, 2015), for at least 20 trading days (whether consecutive or not consecutive) in the period of 30 consecutive trading days ending on the last trading day of the fiscal quarter. These notes were not convertible at March 31, 2015.
· | Shares subject to issuance under the Company’s 2013 VSEP were not considered in the computation of diluted EPS for the three-month periods ended March 31, 2015 and 2014 as the calculation was anti-dilutive.
· | At March 31, 2015 and 2014, the Company had 1,441,890 and 398,701 OP Units, respectively, outstanding. The exchange into common shares associated with OP Units was not included in the computation of diluted shares outstanding for both periods presented because the effect of assuming conversion was anti-dilutive.
Common Shares Common share dividends declared were $0.1725 and $0.155 per share for the three-month periods ended March 31, 2015 and 2014, respectively.

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

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration