Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (EPS) (Tables)

 v2.3.0.11
Earnings Per Share (EPS) (Tables)
6 Months Ended
Jun. 30, 2011
Earnings Per Share ("EPS")  
Summary of calculation of numerator and denominator in basic and diluted earning per share

 

 

 

For the Three Months

 

For the Six Months

 

 

 

Ended June 30,

 

Ended June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Numerator:

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations

 

$

(20,556

)

$

7,611

 

$

(40,992

)

$

16,960

 

Gain on sales of real estate, net

 

16

 

335

 

2,717

 

352

 

Preferred share dividends

 

(4,026

)

(4,026

)

(8,051

)

(8,051

)

Loss (income) from continuing operations attributable to noncontrolling interests

 

1,438

 

(595

)

2,161

 

(1,225

)

Income from continuing operations attributable to restricted shares

 

(237

)

(250

)

(519

)

(540

)

Numerator for basic EPS from continuing operations attributable to COPT common shareholders

 

(23,365

)

3,075

 

(44,684

)

7,496

 

Dilutive effect of common units in the Operating Partnership on diluted EPS from continuing operations

 

(1,542

)

—

 

(2,968

)

—

 

Numerator for diluted EPS from continuing operations attributable to COPT common shareholders

 

$

(24,907

)

$

3,075

 

$

(47,652

)

$

7,496

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic EPS from continuing operations attributable to COPT common shareholders

 

$

(23,365

)

$

3,075

 

$

(44,684

)

$

7,496

 

Discontinued operations

 

(5,467

)

1,205

 

(6,298

)

2,514

 

Discontinued operations attributable to noncontrolling interests

 

345

 

(90

)

398

 

(197

)

Numerator for basic EPS on net (loss) income attributable to COPT common shareholders

 

(28,487

)

4,190

 

(50,584

)

9,813

 

Dilutive effect of common units in the Operating Partnership

 

(1,887

)

—

 

(3,366

)

—

 

Numerator for diluted EPS on net (loss) income attributable to COPT common shareholders

 

$

(30,374

)

$

4,190

 

$

(53,950

)

$

9,813

 

 

 

 

 

 

 

 

 

 

 

Denominator (all weighted averages):

 

 

 

 

 

 

 

 

 

Denominator for basic EPS (common shares)

 

68,446

 

58,489

 

67,399

 

58,169

 

Dilutive effect of share-based compensation awards

 

—

 

421

 

—

 

405

 

Dilutive effect of common units

 

4,382

 

—

 

4,389

 

—

 

Denominator for diluted EPS

 

72,828

 

58,910

 

71,788

 

58,574

 

 

 

 

 

 

 

 

 

 

 

Basic EPS:

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations attributable to COPT common shareholders

 

$

(0.34

)

$

0.05

 

$

(0.66

)

$

0.13

 

Discontinued operations attributable to COPT common shareholders

 

(0.08

)

0.02

 

(0.09

)

0.04

 

Net (loss) income attributable to COPT common shareholders

 

$

(0.42

)

$

0.07

 

$

(0.75

)

$

0.17

 

Diluted EPS:

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations attributable to COPT common shareholders

 

$

(0.34

)

$

0.05

 

$

(0.66

)

$

0.13

 

Discontinued operations attributable to COPT common shareholders

 

(0.08

)

0.02

 

(0.09

)

0.04

 

Net (loss) income attributable to COPT common shareholders

 

$

(0.42

)

$

0.07

 

$

(0.75

)

$

0.17

 

Schedule of securities excluded from computation of diluted earnings per share

 

 

 

Weighted Average Shares

 

 

 

Excluded from Denominator

 

 

 

For the Three Months

 

For the Six Months

 

 

 

Ended June 30,

 

Ended June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Conversion of common units

 

—

 

4,558

 

—

 

4,786

 

Conversion of convertible preferred units

 

176

 

176

 

176

 

176

 

Conversion of convertible preferred shares

 

434

 

434

 

434

 

434