Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

Reconciling the Components of Basic and Diluted Net Income (Loss) per Common Share

The following table reconciles the components of basic and diluted net income per common share or Common Unit for the three and six months ended June 30, 2016 and 2015, respectively (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
General Partner
Net income attributable to common shareholders	$	109,067		$	449,380		$	152,374		$	514,624
Less: Dividends on participating securities	(582		)	(589		)	(1,171		)	(1,209		)
Basic net income attributable to common shareholders	108,485			448,791			151,203			513,415
Add back dividends on dilutive participating securities	582			—			569			—
Noncontrolling interest in earnings of common unitholders	1,101			4,762			1,539			5,461
Diluted net income attributable to common shareholders	$	110,168		$	453,553		$	153,311		$	518,876
Weighted average number of common shares outstanding	347,464			345,098			346,564			344,849
Weighted average Limited Partner Units outstanding	3,504			3,630			3,501			3,662
Other potential dilutive shares	3,465			433			2,162			434
Weighted average number of common shares and potential dilutive securities	354,433			349,161			352,227			348,945

Partnership
Net income attributable to common unitholders	$	110,168		$	454,142		$	153,913		$	520,085
Less: Distributions on participating securities	(582		)	(589		)	(1,171		)	(1,209		)
Basic net income attributable to common unitholders	$	109,586		$	453,553		$	152,742		$	518,876
Add back distributions on dilutive participating securities	582			—			569			—
Diluted net income attributable to common unitholders	$	110,168		$	453,553		$	153,311		$	518,876
Weighted average number of Common Units outstanding	350,968			348,728			350,065			348,511
Other potential dilutive units	3,465			433			2,162			434
Weighted average number of Common Units and potential dilutive securities	354,433			349,161			352,227			348,945

Computation of Anti-Dilutive Common Share

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 June 30,		Six Months Ended June 30,
	2016	2015	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	170	997	307	997
Outstanding participating securities	—	3,463	1,706	3,463