Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2015

Net Income (Loss) Per Common Share or Common Unit

Basic net income (loss) per common share or Common Unit is computed by dividing net income (loss) attributable to common shareholders or common unitholders, less dividends or distributions on share-based awards expected to vest (referred to as "participating securities" and primarily composed of unvested restricted stock units), by the weighted average number of common shares or Common Units outstanding for the period.

Diluted net income (loss) per common share is computed by dividing the sum of basic net income (loss) attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive) by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, Units outstanding and any potential dilutive securities for the period. Diluted net income (loss) per Common Unit is computed by dividing the basic net income (loss) attributable to common unitholders by the sum of the weighted average number of Common Units outstanding and any potential dilutive securities for the period. The following table reconciles the components of basic and diluted net income per common share or Common Unit for the three and six months ended June 30, 2015 and 2014, respectively (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
General Partner
Net income attributable to common shareholders	$	449,380		$	127,688		$	514,624		$	146,371
Less: Dividends on participating securities	(589		)	(646		)	(1,209		)	(1,289		)
Basic net income attributable to common shareholders	448,791			127,042			513,415			145,082
Noncontrolling interest in earnings of common unitholders	4,762			1,693			5,461			1,943
Diluted net income attributable to common shareholders	$	453,553		$	128,735		$	518,876		$	147,025
Weighted average number of common shares outstanding	345,098			331,753			344,849			329,442
Weighted average Limited Partner Units outstanding	3,630			4,386			3,662			4,386
Other potential dilutive shares	433			275			434			274
Weighted average number of common shares and potential dilutive securities	349,161			336,414			348,945			334,102

Partnership
Net income attributable to common unitholders	$	454,142		$	129,381		$	520,085		$	148,314
Less: Distributions on participating securities	(589		)	(646		)	(1,209		)	(1,289		)
Basic and diluted net income attributable to common unitholders	$	453,553		$	128,735		$	518,876		$	147,025
Weighted average number of Common Units outstanding	348,728			336,139			348,511			333,828
Other potential dilutive units	433			275			434			274
Weighted average number of Common Units and potential dilutive securities	349,161			336,414			348,945			334,102

Substantially all potential shares related to our stock-based compensation plans are anti-dilutive for all periods presented. The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):



	Three Months Ended June 30,		Six Months Ended June 30,
	2015	2014	2015	2014
General Partner and Partnership
Potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	997	1,215	997	1,215
Outstanding participating securities	3,463	3,830	3,463	3,830