Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
General Partner
Net income attributable to common shareholders	$	1,210,543		$	109,067		$	1,280,743		$	152,374
Less: dividends on participating securities	(540		)	(582		)	(1,083		)	(1,171		)
Basic net income attributable to common shareholders	1,210,003			108,485			1,279,660			151,203
Add back dividends on dilutive participating securities	540			582			1,083			569
Noncontrolling interest in earnings of common unitholders	11,240			1,101			11,892			1,539
Diluted net income attributable to common shareholders	$	1,221,783		$	110,168		$	1,292,635		$	153,311
Weighted average number of common shares outstanding	355,647			347,464			355,466			346,564
Weighted average Limited Partner Units outstanding	3,305			3,504			3,310			3,501
Other potential dilutive shares	3,029			3,465			3,013			2,162
Weighted average number of common shares and potential dilutive securities	361,981			354,433			361,789			352,227

Partnership
Net income attributable to common unitholders	$	1,221,783		$	110,168		$	1,292,635		$	153,913
Less: distributions on participating securities	(540		)	(582		)	(1,083		)	(1,171		)
Basic net income attributable to common unitholders	$	1,221,243		$	109,586		$	1,291,552		$	152,742
Add back distributions on dilutive participating securities	540			582			1,083			569
Diluted net income attributable to common unitholders	$	1,221,783		$	110,168		$	1,292,635		$	153,311
Weighted average number of Common Units outstanding	358,952			350,968			358,776			350,065
Other potential dilutive units	3,029			3,465			3,013			2,162
Weighted average number of Common Units and potential dilutive securities	361,981			354,433			361,789			352,227

Computation of Anti-Dilutive Common Share

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,
	2017	2016	2017	2016
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	170	—	307
Anti-dilutive outstanding participating securities	—	—	—	1,706