Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
The following table sets forth a reconciliation of the numerators and denominators in computing the Operating Partnership's earnings per unit for the three and six months ended June 30, 2011 and 2011, respectively (in thousands, except per unit amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ending June 30, |
|
|
|
2011 |
|
2010 |
|
2011 |
|
2010 |
|
Numerator |
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
10,842 |
|
|
$ |
5,393 |
|
|
$ |
21,659 |
|
|
$ |
8,395 |
|
|
Less applicable preferred unit distributions |
|
— |
|
|
(1,407 |
) |
|
— |
|
|
(2,813 |
) |
|
Less allocation of earnings to participating securities |
|
(165 |
) |
|
(143 |
) |
|
(357 |
) |
|
(312 |
) |
|
Income from continuing operations available to common unitholders of the Operating Partnership |
|
10,677 |
|
|
3,843 |
|
|
21,302 |
|
|
5,270 |
|
|
Discontinued operations |
|
— |
|
|
(1 |
) |
|
— |
|
|
— |
|
|
Net income available to common unitholders of the Operating Partnership |
|
$ |
10,677 |
|
|
$ |
3,842 |
|
|
$ |
21,302 |
|
|
$ |
5,270 |
|
|
Denominator |
|
|
|
|
|
|
|
|
|
Basic weighted average common units |
|
23,154 |
|
|
23,085 |
|
|
23,138 |
|
|
23,067 |
|
|
Effect of notional units |
|
104 |
|
|
— |
|
|
104 |
|
|
— |
|
|
Effect of senior exchangeable notes |
|
32 |
|
|
13 |
|
|
32 |
|
|
13 |
|
|
Effect of outstanding options |
|
19 |
|
|
21 |
|
|
19 |
|
|
24 |
|
|
Diluted weighted average common units |
|
23,309 |
|
|
23,119 |
|
|
23,293 |
|
|
23,104 |
|
|
Basic earnings per common unit: |
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
0.46 |
|
|
$ |
0.17 |
|
|
$ |
0.92 |
|
|
$ |
0.23 |
|
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Net income |
|
$ |
0.46 |
|
|
$ |
0.17 |
|
|
$ |
0.92 |
|
|
$ |
0.23 |
|
|
Diluted earnings per common unit: |
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
0.46 |
|
|
$ |
0.17 |
|
|
$ |
0.91 |
|
|
$ |
0.23 |
|
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
Net income |
|
$ |
0.46 |
|
|
$ |
0.17 |
|
|
$ |
0.91 |
|
|
$ |
0.23 |
|
|
|