Net Income (Loss) Per Common Unit

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

8.    Net Income (Loss) Per Common Unit

Basic net income (loss) per Common Unit is computed by dividing net income (loss) attributable to common unitholders, less 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 Units outstanding for the period. Diluted net income (loss) per Common Unit is computed by dividing basic net income (loss) attributable to common unitholders 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 (loss) per Common Unit for the three months ended March 31, 2012 and 2011, respectively (in thousands):

	Three Months Ended March 31,
	2012			2011
Net income (loss) attributable to common unitholders	$	(37,201	)	$	48,774
Less: Distributions on participating securities	(852		)	(799		)
Basic and diluted net income (loss) attributable to common unitholders	(38,053		)	47,975
Weighted average number of Common Units outstanding	264,114			258,790
Other potential dilutive units	—			47
Weighted average number of Common Units and potential dilutive securities	264,114			258,837

Substantially all potential units related to our stock-based compensation plans were anti-dilutive for both periods presented and potential units related to our 3.75% Exchangeable Senior Notes (“Exchangeable Notes”), which were repaid in December 2011, were anti-dilutive for the three months ended March 31, 2011. The following table summarizes the data that is excluded from the computation of net income (loss) per Common Unit as a result of being anti-dilutive (in thousands):

	Three Months Ended March 31,
	2012	2011
Anti-dilutive outstanding potential units under fixed stock option and other stock-based compensation plans	1,733	1,711
Anti-dilutive potential units under the Exchangeable Notes	—	3,432
Outstanding participating securities	5,051	4,752