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Earnings (Loss) Per Common Share (Unit)
 3 Months Ended
Mar. 31, 2013
Earnings (Loss) Per Common Share (Unit)
3. Earnings (Loss) Per Common Share (Unit)

Host Inc. Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of Host Inc. common stock outstanding. Diluted earnings (loss) per common share is computed by dividing net income (loss) available to common stockholders, as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive. The calculation of basic and diluted earnings (loss) per common share is shown below (in millions, except per share amounts):

 

     Quarter ended  
     March 31,
2013		     March 23,
2012		  

Net income

    $ 60      $ —     

Less: Net income attributable to non-controlling interests

      (4 )      (2 ) 
  

 

 

    

 

 

  

Net income (loss) attributable to Host Inc.

    $ 56      $ (2 ) 
  

 

 

    

 

 

  

Diluted income (loss) attributable to Host Inc.

    $ 56      $ (2 ) 
  

 

 

    

 

 

  

Basic weighted average shares outstanding

      728.2        707.5   
  

 

 

    

 

 

  

Diluted weighted average shares outstanding (a)

      738.6        707.5   
  

 

 

    

 

 

  

Basic earnings (loss) per common share

    $ .08      $ —     
  

 

 

    

 

 

  

Diluted earnings (loss) per common share

    $ .08      $ —     
  

 

 

    

 

 

  

 

(a) There were approximately 29 million and 41 million for the quarters ended March 31, 2013 and March 23, 2012, respectively, potentially dilutive shares for our exchangeable senior debentures, which shares were not included in the computation of diluted EPS because to do so would have been anti-dilutive for the period.

 

Host L.P. Earnings (Loss) Per Common Unit

Basic earnings (loss) per common unit is computed by dividing net income (loss) available to common unitholders by the weighted average number of common units outstanding. Diluted earnings (loss) per common unit is computed by dividing net income (loss) available to common unitholders, as adjusted for potentially dilutive securities, by the weighted average number of common units outstanding plus other potentially dilutive securities. Dilutive securities may include units distributed to Host Inc. to support Host Inc. common shares granted under comprehensive stock plans, other non-controlling interests that have the option to convert their limited partnership interests to common OP units and convertible debt securities. No effect is shown for any securities that are anti-dilutive. The calculation of basic and diluted earnings (loss) per unit is shown below (in millions, except per unit amounts):

 

     Quarter ended  
     March 31,
2013		     March 23,
2012		  

Net income

    $ 60      $ —     

Less: Net income attributable to non-controlling interests

      (3 )      (2 ) 
  

 

 

    

 

 

  

Net income (loss) attributable to Host L.P.

    $ 57      $ (2 ) 
  

 

 

    

 

 

  

Diluted income (loss) attributable to Host L.P.

    $ 57      $ (2 ) 
  

 

 

    

 

 

  

Basic weighted average units outstanding

      722.7        703.1   
  

 

 

    

 

 

  

Diluted weighted average units outstanding (a)

      732.8        703.1   
  

 

 

    

 

 

  

Basic earnings (loss) per common unit

    $ .08      $ —     
  

 

 

    

 

 

  

Diluted earnings (loss) per common unit

    $ .08      $ —     
  

 

 

    

 

 

  

 

(a) There were approximately 29 million and 40 million for the quarters ended March 31, 2013 and March 23, 2012, respectively, potentially dilutive units for our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.