Comparison of Year Ended December 31, 2006 to Year Ended December 31, 2005 Rental Revenue from Continuing Operations Overall, rental revenue from continuing operations increased from $602.1 million in 2005 to $743.5 million in 2006.
The following table reconciles rental revenue from continuing operations by reportable segment to total reported rental revenue from continuing operations for the years ended December 31, 2006 and 2005, respectively (in thousands):
## Table 0 ##
Both of our reportable segments that comprise Rental Operations (office and industrial) are within the real estate industry; however, the same economic and industry conditions do not affect each segment in the same manner.
The primary causes of the increase in rental revenue from continuing operations, with specific references to a particular segment when applicable, are summarized below: ?
In 2006, we acquired 50 new properties and placed 27 development projects in service.
These 2006 acquisitions and developments are the primary factor in the overall increase in rental revenue for the year ended 2006 compared to 2005 as they provided incremental revenues of $73.8 million and $9.3 million respectively.
These acquisitions totaled $948.4 million on 8.6 million square feet and were 99% leased at December 31, 2006.  ?
Acquisitions and developments that were placed in service in 2005 provided $15.8 million and $11.2 million, respectively, of incremental revenue in 2006.  ?
Rental revenue includes lease termination fees.
Lease termination fees relate to specific tenants who pay a fee to terminate their lease obligations before the end of the contractual lease term.
Lease termination fees increased from $7.3 million in 2005 to $16.1 million in 2006.  ?
Our in-service occupancy increased from 92.7% at December 31, 2005, to 92.9% at December 31, 2006 and contributed to the remaining increase in rental revenue.
Equity in Earnings of Unconsolidated Companies Equity in earnings represents our ownership share of net income from investments in unconsolidated companies.
These joint ventures generally own and operate rental properties and develop properties.
These earnings increased from $29.5 million in 2005 to $38.0 million in 2006.
During 2006, our joint ventures sold 22 non-strategic buildings, with our share of the net gain recorded through equity in earnings totaling $18.8 million.
During the second quarter of 2005, one of our ventures sold three buildings, with our share of the net gain recorded through equity in earnings totaling $11.1 million.
Rental Expenses and Real Estate Taxes The following table reconciles rental expenses and real estate taxes by reportable segment to our total reported amounts in the statement of operations for the years ended December 31, 2006 and 2005, respectively (in thousands):
## Table 1 ##
Rental expenses and real estate taxes for 2006 have increased from 2005 by $30.2 million and $10.9 million, respectively, as the result of acquisition and development activity in 2005 and 2006 as well as from an increase in occupancy over the past two years.
recognition and account for the continued operations of the property by applying the finance, installment or cost recovery methods, as appropriate, until the full accrual sales criteria are met.
Estimated future costs to be incurred after completion of each sale are included in the determination of the gain on sales.
Gains from sales of depreciated property are included in discontinued operations and the proceeds from the sale of these held-for-rental properties are classified in the investing activities section of the Consolidated Statements of Cash Flows.
Gains or losses from our sale of properties that were developed or repositioned with the intent to sell and not for long-term rental are classified as gain on sale of Service Operation properties in the Consolidated Statements of Operations.
All activities and proceeds received from the development and sale of these buildings are classified in the operating activities section of the Consolidated Statements of Cash Flows.
Net Income Per Common Share Basic net income per common share is computed by dividing net income available for common shareholders by the weighted average number of common shares outstanding for the period.
Diluted net income per common share is computed by dividing the sum of net income available for common shareholders and the minority interest in earnings allocable to Units not owned by us, by the sum of the weighted average number of common shares outstanding and minority Units outstanding, including any dilutive potential common equivalents for the period.
The following table reconciles the components of basic and diluted net income per common share (in thousands):
## Table 2 ##
(1) Excludes the effect of outstanding stock options, as well as the Exchangeable Senior Notes (“Exchangeable Notes”) issued in 2006, that have an anti-dilutive effect on earnings per share for the periods presented.
A joint venture partner in one of our unconsolidated companies has the option to convert a portion of its ownership in the joint venture to our common shares.
The effect of this option on earnings per share was anti-dilutive for the years ended December 31, 2007, 2006 and 2005.
Federal Income Taxes We have elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code.
To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our adjusted taxable income to our stockholders.
Management intends to continue to adhere to these requirements and to maintain our REIT status.
As a REIT, we are entitled to a tax deduction for some or all of the dividends we pay to shareholders.
Accordingly, we generally will not be subject to federal income taxes as long as we distribute an amount equal to or in excess of our taxable income currently to shareholders.
We are also generally subject to federal income taxes on any taxable income that is not currently distributed to its shareholders.
If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes and may not be able to qualify as a REIT for four subsequent taxable years.
schedule, excluding the leases in properties designated as held-for-sale, at December 31, 2016 (in thousands, except percentage data and number of leases):
## Table 3 ##
* Annualized rental revenue represents average annual base rental payments, on a straight-line basis for the term of each lease, from space leased to tenants at the end of the most recent reporting period.
Annualized rental revenue excludes additional amounts paid by tenants as reimbursement for operating expenses.
Information on current market rents can be difficult to obtain, is highly subjective and is often not directly f comparable between properties.
As a result, we believe the increase or decrease in net efffective rent on lease renewals, as previously defined, is the most objective and meaningful relationship between rents on leases expiring in the near-term and current market rents.
Acquisition Activity Our decision process in determining whether or not to acquire a target property or portfolio involves several factors, including expected rent growth, multiple yield metrics, property locations and expected demographic growth in each location, current occupancy of the target properties, tenant profile and remaining terms of the in-place leases in the target properties.
We pursue both brokered and non-brokered acquisitions, and it is dif W ficult to predict which f markets and product types may present acquisition opportunities that align with our strategy.
Because of the numerous factors considered in our acquisition decisions, we do not establish specific target yields for future acquisitions.
Due to increased market prices and lower acquisition yields for the class and quality of assets that meet our investment criteria, we have shifted our near term focus from acquisitions to new development activities.
In addition to the 14 properties acquired from the Quantico Joint VVenture, we also acquired three other properties for a total of 17 properties during the year ended December 31, 2016 and two properties during the year ended December 31, 2015.
The following table summarizes the acquisition price, percent leased at time of acquisition and in-place yields by product type for these acquisitions (in thousands, except percentage data):

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2006	2005
Office	$534,369	$443,927
Industrial	194,670	148,359
Other	14,509	9,776
Total	$743,548	$602,062

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2006	2005
Rental Expenses:
Office	$143,567	$119,052
Industrial	21,991	18,264
Other	3,519	1,557
Total	$169,077	$138,873
Real Estate Taxes:
Office	$55,963	$49,936
Industrial	21,760	17,758
Other	6,015	5,104
Total	$83,738	$72,798

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2007	2006	2005
Basic net income available for common shareholders	$217,692	$145,095	$309,183
Minority interest in earnings of common unitholders	14,399	14,238	29,649
Diluted net income available for common shareholders	$232,091	$159,333	$338,832
Weighted average number of common shares outstanding	139,255	134,883	141,508
Weighted average partnership Units outstanding	9,204	13,186	13,551
Dilutive shares for stock-based compensation plans -1	1,155	1,324	818
Weighted average number of common shares and potential dilutive common equivalents	149,614	149,393	155,877

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Total Consolidated Portfolio	Industrial	Medical Office	Non-reportable
Year ofExpiration	SquareFeet	Ann. RentRevenue*	Number of Leases	SquareFeet	Ann. RentRevenue*	SquareFeet	Ann. Rent Revenue*	SquareFeet	Ann. RentRevenue*
2017	8,215	$32,966	146	8,028	$29,835	171	2,975	16	$156
2018	12,729	57,870	189	12,303	46,975	416	10,781	10	114
2019	13,858	61,293	210	13,525	53,543	319	7,581	14	169
2020	13,014	65,938	172	12,567	56,948	423	8,772	24	218
2021	13,358	61,520	186	13,042	55,293	257	5,732	59	495
2022	12,712	54,950	106	12,350	47,451	330	6,940	32	559
2023	3,557	23,923	62	3,134	16,111	415	7,725	8	87
2024	8,857	41,951	52	8,706	38,816	151	3,135	—	—
2025	8,000	35,392	37	7,788	31,508	212	3,884	—	—
2026	7,363	37,513	52	7,080	31,491	283	6,022	—	—
2027 and Thereafter	14,003	124,434	84	11,156	49,740	2,419	67,753	428	6,941
Total Leased	115,666	$597,750	1,296	109,679	$457,711	5,396	131,300	591	$8,739
Total Portfolio Square Feet	118,945	112,368	5,672	905
Percent Leased	97.2%	97.6%	95.1%	65.3%

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Question: what is the net income per common share for the year 2007?
Answer: 1.56326