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Net Income (Loss) Per Common Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share or Common Unit
Basic net income (loss) per common share or Common Unit is computed by dividing net income (loss) attributable to common shareholders or common unitholders, less dividends or 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 shares or Common Units outstanding for the period.
Diluted net income (loss) per common share is computed by dividing the sum of basic net income (loss) attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive) by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, Units outstanding and any potential dilutive securities for the period. Diluted net income (loss) per Common Unit is computed by dividing the 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 share or Common Unit for the three and six months ended June 30, 2012 and 2011, respectively (in thousands): 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2012
 
2011
 
2012
 
2011
General Partner
 
 
 
 
 
 
 
Net income (loss) attributable to common shareholders
$
(28,482
)
 
$
(29,042
)
 
$
(64,872
)
 
$
18,527

Less: Dividends on participating securities
(856
)
 
(806
)
 
(1,708
)
 
(1,605
)
Basic net income (loss) attributable to common shareholders
(29,338
)
 
(29,848
)
 
(66,580
)
 
16,922

Noncontrolling interest in earnings of common unitholders
—

 
—

 
—

 
499

Diluted net income (loss) attributable to common shareholders
$
(29,338
)
 
$
(29,848
)
 
$
(66,580
)
 
$
17,421

Weighted average number of common shares outstanding
266,748

 
252,640

 
262,556

 
252,524

Weighted average Limited Partner Units outstanding
—

 
—

 
—

 
6,798

Other potential dilutive shares
—

 
—

 
—

 
68

Weighted average number of common shares and potential dilutive securities
266,748

 
252,640

 
262,556

 
259,390

 
 
 
 
 
 
 
 
Partnership
 
 
 
 
 
 
 
Net income (loss) attributable to common unitholders
$
(28,948
)
 
$
(29,748
)
 
$
(66,149
)
 
$
19,026

Less: Distributions on participating securities
(856
)
 
(806
)
 
(1,708
)
 
(1,605
)
Basic and diluted net income (loss) attributable to common unitholders
$
(29,804
)
 
$
(30,554
)
 
$
(67,857
)
 
$
17,421

Weighted average number of Common Units outstanding
271,317

 
259,849

 
267,716

 
259,322

Other potential dilutive units
—

 
—

 
—

 
68

Weighted average number of Common Units and potential dilutive securities
271,317

 
259,849

 
267,716

 
259,390


The Limited Partner Units are anti-dilutive to the General Partner for the three and six months ended June 30, 2012, as well as the three months ended June 30, 2011, as a result of the net loss for these periods. In addition, substantially all potential shares related to our stock-based compensation plans were anti-dilutive for all periods presented and potential shares related to our 3.75% Exchangeable Senior Notes (“Exchangeable Notes”), which were repaid in December 2011, were anti-dilutive for the three and six months ended June 30, 2011. The following table summarizes the data that is excluded from the computation of net income (loss) per common share or Common Unit as a result of being anti-dilutive (in thousands): 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2012
 
2011
 
2012
 
2011
General Partner
 
 
 
 
 
 
 
Noncontrolling interest in loss of common unitholders
$
(466
)
 
$
(706
)
 
$
(1,277
)
 
$
—

Weighted average Limited Partner Units outstanding
4,569

 
7,209

 
5,160

 
—

General Partner and the Partnership
 
 
 
 
 
 
 
Other potential dilutive shares or units:
 
 
 
 
 
 
 
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans
1,728

 
1,677

 
1,728

 
1,677

Anti-dilutive potential shares or units under the Exchangeable Notes
—

 
3,432

 
—

 
3,432

Outstanding participating securities
4,047

 
4,816

 
4,047

 
4,816