| Summary of calculation of numerator and denominator in basic and diluted earning per share |
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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2012 |
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2011 |
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2012 |
|
2011 |
Numerator: |
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Income (loss) from continuing operations |
$ |
11,544 |
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|
$ |
(4,182 |
) |
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$ |
20,056 |
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|
$ |
(25,529 |
) |
Gain on sales of real estate, net |
21 |
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|
27 |
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|
21 |
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|
2,728 |
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Preferred share dividends |
(4,167 |
) |
|
(4,026 |
) |
|
(8,192 |
) |
|
(8,051 |
) |
(Income) loss from continuing operations attributable to noncontrolling interests |
(1,090 |
) |
|
411 |
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|
(1,474 |
) |
|
1,192 |
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Income from continuing operations attributable to restricted shares |
(105 |
) |
|
(237 |
) |
|
(246 |
) |
|
(519 |
) |
Numerator for basic EPS from continuing operations attributable to COPT common shareholders |
6,203 |
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(8,007 |
) |
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10,165 |
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(30,179 |
) |
Dilutive effect of common units in the Operating Partnership on diluted EPS from continuing operations |
— |
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|
(517 |
) |
|
— |
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|
(2,002 |
) |
Numerator for diluted EPS from continuing operations attributable to COPT common shareholders |
$ |
6,203 |
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|
$ |
(8,524 |
) |
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$ |
10,165 |
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$ |
(32,181 |
) |
Numerator for basic EPS from continuing operations attributable to COPT common shareholders |
$ |
6,203 |
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$ |
(8,007 |
) |
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$ |
10,165 |
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|
$ |
(30,179 |
) |
Discontinued operations |
296 |
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|
(21,852 |
) |
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(1,239 |
) |
|
(21,772 |
) |
Discontinued operations attributable to noncontrolling interests |
(17 |
) |
|
1,372 |
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|
67 |
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|
1,367 |
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Numerator for basic EPS on net income (loss) attributable to COPT common shareholders |
6,482 |
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(28,487 |
) |
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8,993 |
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(50,584 |
) |
Dilutive effect of common units in the Operating Partnership |
— |
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(1,887 |
) |
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— |
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(3,366 |
) |
Numerator for diluted EPS on net income (loss) attributable to COPT common shareholders |
$ |
6,482 |
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$ |
(30,374 |
) |
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$ |
8,993 |
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$ |
(53,950 |
) |
Denominator (all weighted averages): |
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Denominator for basic EPS (common shares) |
71,624 |
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68,446 |
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71,541 |
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|
67,399 |
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Dilutive effect of common units |
— |
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4,382 |
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— |
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|
4,389 |
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Dilutive effect of share-based compensation awards |
25 |
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— |
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35 |
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— |
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Denominator for diluted EPS |
71,649 |
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72,828 |
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71,576 |
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71,788 |
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Basic EPS: |
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Loss from continuing operations attributable to COPT common shareholders |
$ |
0.09 |
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$ |
(0.12 |
) |
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$ |
0.14 |
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$ |
(0.45 |
) |
Discontinued operations attributable to COPT common shareholders |
— |
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(0.30 |
) |
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(0.01 |
) |
|
(0.30 |
) |
Net income (loss) attributable to COPT common shareholders |
$ |
0.09 |
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$ |
(0.42 |
) |
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$ |
0.13 |
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$ |
(0.75 |
) |
Diluted EPS: |
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Loss from continuing operations attributable to COPT common shareholders |
$ |
0.09 |
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$ |
(0.12 |
) |
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$ |
0.14 |
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$ |
(0.45 |
) |
Discontinued operations attributable to COPT common shareholders |
— |
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(0.30 |
) |
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(0.01 |
) |
|
(0.30 |
) |
Net income (loss) attributable to COPT common shareholders |
$ |
0.09 |
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$ |
(0.42 |
) |
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$ |
0.13 |
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$ |
(0.75 |
) |
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