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Net Income (Loss) Per Common Share
6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share 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 June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
General Partner
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
71,053

 
$
193,845

 
$
115,604

 
$
266,808

Less: dividends on participating securities
(388
)
 
(418
)
 
(777
)
 
(855
)
Basic net income attributable to common shareholders
$
70,665

 
$
193,427

 
$
114,827

 
$
265,953

Add back dividends on dilutive participating securities

 
418

 

 
855

Noncontrolling interest in earnings of common unitholders
621

 
1,824

 
1,003

 
2,507

Diluted net income attributable to common shareholders
$
71,286

 
$
195,669

 
$
115,830

 
$
269,315

Weighted average number of common shares outstanding
359,681

 
357,054

 
359,412

 
356,898

Weighted average Limited Partner Units outstanding
3,145

 
3,393

 
3,105

 
3,374

Other potential dilutive shares
100

 
2,294

 
98

 
2,279

Weighted average number of common shares and potential dilutive securities
362,926

 
362,741

 
362,615

 
362,551

 
 
 
 
 
 
 
 
Partnership
 
 
 
 
 
 
 
Net income attributable to common unitholders
$
71,674

 
$
195,669

 
$
116,607

 
$
269,315

Less: distributions on participating securities
(388
)
 
(418
)
 
(777
)
 
(855
)
Basic net income attributable to common unitholders
$
71,286

 
$
195,251

 
$
115,830

 
$
268,460

Add back distributions on dilutive participating securities

 
418

 

 
855

Diluted net income attributable to common unitholders
$
71,286

 
$
195,669

 
$
115,830

 
$
269,315

Weighted average number of Common Units outstanding
362,826

 
360,447

 
362,517

 
360,272

Other potential dilutive units
100

 
2,294

 
98

 
2,279

Weighted average number of Common Units and potential dilutive securities
362,926

 
362,741

 
362,615

 
362,551


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,
 
2019
 
2018
 
2019
 
2018
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
1,960

 

 
1,960