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, | | 2022 | | 2021 | | 2022 | | 2021 | General Partner | | | | | | | | Net income attributable to common shareholders | $ | 102,470 | | | $ | 175,817 | | | $ | 351,391 | | | $ | 255,179 | | Less: dividends on participating securities | (319) | | | (365) | | | (645) | | | (735) | | Basic net income attributable to common shareholders | $ | 102,151 | | | $ | 175,452 | | | $ | 350,746 | | | $ | 254,444 | | Add back dividends on dilutive participating securities | — | | | 365 | | | 645 | | | 735 | | Noncontrolling interest in earnings of common unitholders | 1,128 | | | 1,738 | | | 3,591 | | | 2,499 | | Diluted net income attributable to common shareholders | $ | 103,279 | | | $ | 177,555 | | | $ | 354,982 | | | $ | 257,678 | | Weighted average number of common shares outstanding | 384,519 | | | 376,020 | | | 383,619 | | | 374,850 | | Weighted average Limited Partner Units outstanding | 4,022 | | | 3,770 | | | 3,915 | | | 3,673 | | Other potential dilutive shares | 658 | | | 1,831 | | | 1,731 | | | 1,811 | | Weighted average number of common shares and potential dilutive securities | 389,199 | | | 381,621 | | | 389,265 | | | 380,334 | | | | | | | | | | Partnership | | | | | | | | Net income attributable to common unitholders | $ | 103,598 | | | $ | 177,555 | | | $ | 354,982 | | | $ | 257,678 | | Less: distributions on participating securities | (319) | | | (365) | | | (645) | | | (735) | | Basic net income attributable to common unitholders | $ | 103,279 | | | $ | 177,190 | | | $ | 354,337 | | | $ | 256,943 | | Add back distributions on dilutive participating securities | — | | | 365 | | | 645 | | | 735 | | Diluted net income attributable to common unitholders | $ | 103,279 | | | $ | 177,555 | | | $ | 354,982 | | | $ | 257,678 | | Weighted average number of Common Units outstanding | 388,541 | | | 379,790 | | | 387,534 | | | 378,523 | | Other potential dilutive units | 658 | | | 1,831 | | | 1,731 | | | 1,811 | | Weighted average number of Common Units and potential dilutive securities | 389,199 | | | 381,621 | | | 389,265 | | | 380,334 | |
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