Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.6
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Tax Treatment of Common Dividends Per Share for Federal Tax Purposes
For income tax purposes, distributions paid to the Company's common shareholders consist of ordinary income, capital gains, return of capital or a combination thereof. Dividends per share for the years ended December 31, 2012, 2011 and 2010 were taxable as follows:

Common dividends per share:
 
2012
 
2011
 
2010
Ordinary income
 
$
0.8293

 
$
0.7938

 
$
0.5361

Return of capital
 
0.0007

 
—

 
0.2364

 
 
$
0.8300

 
$
0.7938

 
$
0.7725

GAAP Reconciliation of Net Income to Taxable Income
The following reconciles net income available to the Company's shareholders to taxable income available to common shareholders for the years ended December 31, 2012, 2011 and 2010:

 
 
2012
 
2011
 
2010
Net income available to the Company's shareholders
 
$
53,228

 
$
44,641

 
$
34,249

Preferred share dividends paid
 
—

 
—

 
(6,219
)
Book/tax difference on:
 
 
 
 
 
 
Depreciation and amortization
 
16,034

 
16,232

 
23,469

Loss on sale or disposal of real estate
 
(1,543
)
 
(3,113
)
 
(6,706
)
Equity in earnings (losses) from unconsolidated joint ventures
 
5,037

 
2,482

 
1,326

Share-based payment compensation
 
(6,298
)
 
(491
)
 
(3,154
)
Other differences
 
(850
)
 
997

 
(5,169
)
Taxable income available to common shareholders
 
$
65,608

 
$
60,748

 
$
37,796