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Net Income (Loss) Per Common Unit
 6 Months Ended
Jun. 30, 2011
Net Income (Loss) Per Common Unit  
Net Income (Loss) Per Common Unit
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 and six months ended June 30, 2011 and 2010, respectively (in thousands):

 

     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2011     2010     2011     2010  

Net income (loss) attributable to common unitholders

    $ (29,748 )    $ (43,603 )    $ 19,026      $ (59,316 ) 

Less: Distributions on participating securities

      (806 )      (505 )      (1,605 )      (1,005 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Basic and diluted net income (loss) attributable to common unitholders

    $ (30,554 )    $ (44,108 )    $ 17,421      $ (60,321 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average number of Common Units outstanding

      259,849        233,486        259,322        232,130   

Other potential dilutive units

      —          —          68        —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average number of Common Units and potential dilutive securities

      259,849        233,486        259,390        232,130   
  

 

 

    

 

 

    

 

 

    

 

 

  

Potential units related to the majority of our stock-based compensation plans as well as our 3.75% Exchangeable Senior Notes ("Exchangeable Notes") are anti-dilutive for all periods presented. 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 June 30,		      Six Months
Ended June 30,		  
     2011      2010      2011      2010  

Anti-dilutive outstanding potential units under fixed stock option plans

      1,677         1,787         1,677         1,787   

Anti-dilutive potential units under the Exchangeable Notes

      3,432         4,335         3,432         4,335   

Outstanding participating securities

      4,816         4,188         4,816         4,188