H&R REAL ESTATE INVESTMENT TRUST  H&R FINANCE TRUST  Notes to Combined Financial Statements   (In thousands of dollars, except unit and per unit amounts)  Years ended December 31, 2010 and 2009  15. Depreciation and amortization: 16. Net earnings per Stapled Unit: The convertible debentures are anti-dilutive for the years ended December 31, 2010 and 2009; therefore, the potential  conversion of these debentures into Stapled Units has not been included in the calculation of diluted Stapled Units. Although the warrants were redeemed on December 29, 2009, they are included in the denominator of the diluted  earnings per unit for the period which they were outstanding (note 8(f)).  28  2010 2009 Depreciation of income properties 95,793 $ 98,871 $ Amortization of intangible assets on acquisitions 23,143 24,207 Amortization of leasing ex penses 6,198 5,565 125,134 $  128,643 $  2010 2009 Net earnings  172,348 $ 86,525 $ Add net earnings attributable to non-controlling interest (note 10) 6,421 3,670 Add conv ertible debenture interest - - Diluted net earnings  178,769 $ 90,195 $ 2010 2009 Basic Stapled Units 144,348,657 142,508,200 Effect of dilutiv e securities: U nit option plan 636,044 84,765 C onv ertible debentures - - Warrants (note 8(f)) - 12,231,559 N on-controlling interest conv ersion to Stapled U nits (note 10) 5,437,565 5,437,565 Diluted Stapled Units 150,422,266 160,262,089 N et earnings per Stapled U nit: Basic 1.19 $ 0.61 $ Diluted 1.19 $ 0.56 $ The weighted average number of Stapled Units outstanding was as follows: