Net Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2016

Reconciling the Components of Basic and Diluted Net Income (Loss) per Common Share

The following table reconciles the components of basic and diluted net income per common share or Common Unit (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
General Partner
Net income attributable to common shareholders	$	112,014		$	76,434		$	264,388		$	591,058
Less: Dividends on participating securities	(580		)	(593		)	(1,751		)	(1,803		)
Basic net income attributable to common shareholders	111,434			75,841			262,637			589,255
Add back dividends on dilutive participating securities	580			593			1,751			1,803
Noncontrolling interest in earnings of common unitholders	1,131			751			2,670			6,212
Diluted net income attributable to common shareholders	$	113,145		$	77,185		$	267,058		$	597,270
Weighted average number of common shares outstanding	351,856			345,256			348,341			344,986
Weighted average Limited Partner Units outstanding	3,495			3,504			3,499			3,609
Other potential dilutive shares	3,630			3,390			3,565			3,418
Weighted average number of common shares and potential dilutive securities	358,981			352,150			355,405			352,013

Partnership
Net income attributable to common unitholders	$	113,145		$	77,185		$	267,058		$	597,270
Less: Distributions on participating securities	(580		)	(593		)	(1,751		)	(1,803		)
Basic net income attributable to common unitholders	$	112,565		$	76,592		$	265,307		$	595,467
Add back distributions on dilutive participating securities	580			593			1,751			1,803
Diluted net income attributable to common unitholders	$	113,145		$	77,185		$	267,058		$	597,270
Weighted average number of Common Units outstanding	355,351			348,760			351,840			348,595
Other potential dilutive units	3,630			3,390			3,565			3,418
Weighted average number of Common Units and potential dilutive securities	358,981			352,150			355,405			352,013

Computation of Anti-Dilutive Common Share

The following table summarizes the potentially dilutive shares or units 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 September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
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	170	997	170	997
Outstanding participating securities	—	—	—	—