| Computation Of Basic And Diluted Earnings Per Share |
The computation of basic and diluted earnings per share for the three years ended December 31, 2012 was as follows (in thousands; except per share data):
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Year Ended December 31, |
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2012 |
|
2011 |
|
2010 |
Numerator: |
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|
Income (loss) from continuing operations |
$ |
17,099 |
|
|
$ |
(2,898 |
) |
|
$ |
(609 |
) |
Allocation of undistributed earnings to unvested restricted share awards and units to continuing operations |
(451 |
) |
|
— |
|
|
— |
|
Adjusted income (loss) from continuing operations attributable to the controlling interests |
16,648 |
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|
(2,898 |
) |
|
(609 |
) |
Income from discontinued operations, including gain on sale of real estate, net of taxes |
6,609 |
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|
108,276 |
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|
38,168 |
|
Net income attributable to noncontrolling interests |
— |
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|
(494 |
) |
|
(133 |
) |
Allocation of undistributed earnings to unvested restricted share awards and units to discontinued operations |
(131 |
) |
|
(712 |
) |
|
(144 |
) |
Adjusted income from discontinued operations attributable to the controlling interests |
6,478 |
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|
107,070 |
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|
37,891 |
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Adjusted net income attributable to the controlling interests |
$ |
23,126 |
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$ |
104,172 |
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$ |
37,282 |
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Denominator: |
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Weighted average shares outstanding – basic |
66,239 |
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|
65,982 |
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|
62,140 |
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Effect of dilutive securities: |
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Employee stock options and restricted share awards |
137 |
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— |
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— |
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Weighted average shares outstanding – diluted |
66,376 |
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65,982 |
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62,140 |
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Earnings per common share, basic: |
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Continuing operations |
$ |
0.25 |
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|
$ |
(0.04 |
) |
|
$ |
(0.01 |
) |
Discontinued operations |
0.10 |
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|
1.62 |
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|
0.61 |
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$ |
0.35 |
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$ |
1.58 |
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$ |
0.60 |
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Earnings per common share, diluted: |
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Continuing operations |
$ |
0.25 |
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|
$ |
(0.04 |
) |
|
$ |
(0.01 |
) |
Discontinued operations |
0.10 |
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|
1.62 |
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|
0.61 |
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$ |
0.35 |
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$ |
1.58 |
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$ |
0.60 |
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