Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
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, 2013, 2012 and 2011 were taxable as follows:
Common dividends per share:
 
2013
 
2012
 
2011
Ordinary income
 
$
0.7894

 
$
0.8293

 
$
0.7938

Capital gain
 
0.0115

 
—

 
—

Return of capital
 
0.0841

 
0.0007

 
—

 
 
$
0.8850

 
$
0.8300

 
$
0.7938

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, 2013, 2012 and 2011:
 
 
2013
 
2012
 
2011
Net income available to the Company's shareholders
 
$
107,557

 
$
53,228

 
$
44,641

Book/tax difference on:
 
 
 
 
 
 
Depreciation and amortization
 
(10,697
)
 
16,034

 
16,232

Loss on sale or disposal of real estate
 
(1,805
)
 
(1,543
)
 
(3,113
)
Equity in earnings from unconsolidated joint ventures
 
5,601

 
5,037

 
2,482

Share-based payment compensation
 
(3,818
)
 
(6,298
)
 
(491
)
Gain on previously held interest in acquired joint venture
 
(24,710
)
 
—

 
—

Other differences
 
(5,823
)
 
(850
)
 
997

Taxable income available to common shareholders
 
$
66,305

 
$
65,608

 
$
60,748