Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2016

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 per common share or Common Unit for the three months ended March 31, 2016 and 2015, respectively (in thousands):



	Three Months Ended March 31,
	2016			2015
General Partner
Net income attributable to common shareholders	$	43,307		$	65,244
Less: Dividends on participating securities	(584		)	(620		)
Basic net income attributable to common shareholders	42,723			64,624
Noncontrolling interest in earnings of common unitholders	438			699
Diluted net income attributable to common shareholders	$	43,161		$	65,323
Weighted average number of common shares outstanding	345,665			344,597
Weighted average Limited Partner Units outstanding	3,498			3,695
Other potential dilutive shares	511			361
Weighted average number of common shares and potential dilutive securities	349,674			348,653

Partnership
Net income attributable to common unitholders	$	43,745		$	65,943
Less: Distributions on participating securities	(584		)	(620		)
Basic net income attributable to common unitholders	$	43,161		$	65,323
Weighted average number of Common Units outstanding	349,163			348,292
Other potential dilutive units	511			361
Weighted average number of Common Units and potential dilutive securities	349,674			348,653

The following table summarizes the data that is excluded from the computation of net income per common share or Common Unit as a result of being anti-dilutive (in thousands):



	Three Months Ended March 31,
	2016	2015
General Partner and Partnership
Potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	786	1,030
Outstanding participating securities	3,410	3,593