We determine basic earnings per unit based on the weighted average number of units outstanding during the period and we consider any participating securities for purposes of applying the two-class method. We determine diluted earnings per unit based on the weighted average number of units outstanding combined with the incremental weighted average units that would have been outstanding assuming all potentially dilutive common units were converted into units at the earliest date possible. The following table sets forth the computation of our basic and diluted earnings per unit.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,

	*2012*		*2011*		*2012*		*2011*
Net Income attributable to Unitholders — Basic & Diluted	$	257,768	$	247,271	$	1,036,175	$	463,512

Weighted Average Units Outstanding — Basic		364,300,150		353,569,511		360,463,043		353,450,988
Effect of stock options of Simon Property		1,042		34,582		1,079		127,905

Weighted Average Units Outstanding — Diluted		364,301,192		353,604,093		360,464,122		353,578,893

For the six months ended June 30, 2012, potentially dilutive securities include options to purchase shares of Simon Property common stock and units granted under our long-term incentive performance programs, or LTIP units. The only securities that had a dilutive effect for the six months ended June 30, 2012 and 2011 were stock options of Simon Property. We accrue distributions when they are declared.