Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2018

Net Income per Common Share or Common Unit

Basic net income per common share or Common Unit is computed by dividing net income 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 per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, 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 (in thousands):



	Three Months Ended March 31,
	2018			2017
General Partner
Net income attributable to common shareholders	$	72,963		$	70,200
Less: dividends on participating securities	(437		)	(542		)
Basic net income attributable to common shareholders	72,526			69,658
Add back dividends on dilutive participating securities	—			305
Noncontrolling interest in earnings of common unitholders	683			652
Diluted net income attributable to common shareholders	$	73,209		$	70,615
Weighted average number of common shares outstanding	356,740			355,282
Weighted average Limited Partner Units outstanding	3,355			3,316
Other potential dilutive shares	305			2,102
Weighted average number of common shares and potential dilutive securities	360,400			360,700

Partnership
Net income attributable to common unitholders	$	73,646		$	70,852
Less: distributions on participating securities	(437		)	(542		)
Basic net income attributable to common unitholders	$	73,209		$	70,310
Add back distributions on dilutive participating securities	—			305
Diluted net income attributable to common unitholders	$	73,209		$	70,615
Weighted average number of Common Units outstanding	360,095			358,598
Other potential dilutive units	305			2,102
Weighted average number of Common Units and potential dilutive securities	360,400			360,700

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 March 31,
	2018	2017
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	—	—
Anti-dilutive outstanding participating securities	2,272	1,389