PARTNERS’ EQUITY OF THE OPERATING PARTNERSHIP

Earnings per Common Partnership Unit

The following tables detail the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):



	Three-month periods ended September 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Income from continuing operations	$	7,080		$	7,080		$	4,861		$	4,861
Amount allocable to unvested restricted unitholders	(95		)	(95		)	(121		)	(121		)
Preferred unit dividends	(2,785		)	(2,785		)	(1,998		)	(1,998		)
Income from continuing operations available to common unitholders	4,200			4,200			2,742			2,742
Discontinued operations attributable to common unitholders	10,009			10,009			1,750			1,750
Net income attributable to common unitholders	$	14,209		$	14,209		$	4,492		$	4,492
Denominator
Weighted-average units outstanding	146,082,206			146,082,206			145,372,247			145,372,247
Contingent securities/Share based compensation	—			703,525			—			1,278,964
Total weighted-average units outstanding	146,082,206			146,785,731			145,372,247			146,651,211
Earnings per Common Partnership Unit:
Income from continuing operations attributable to common unitholders	$	0.03		$	0.03		$	0.02		$	0.02
Discontinued operations attributable to common unitholders	0.07			0.07			0.01			0.01
Net income attributable to common unitholders	$	0.10		$	0.10		$	0.03		$	0.03



	Nine-month periods ended September 30,
	2012						2011
	Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(3,414	)	$	(3,414	)	$	(9,278	)	$	(9,278	)
Amount allocable to unvested restricted unitholders	(286		)	(286		)	(384		)	(384		)
Preferred unit dividends	(7,832		)	(7,832		)	(5,994		)	(5,994		)
Preferred unit redemption charge	(2,090		)	(2,090		)	—			—
Loss from continuing operations available to common unitholders	(13,622		)	(13,622		)	(15,656		)	(15,656		)
Discontinued operations attributable to common unitholders	36,641			36,641			9,165			9,165
Net income (loss) attributable to common unitholders	$	23,019		$	23,019		$	(6,491	)	$	(6,491	)
Denominator
Weighted-average units outstanding	145,842,872			145,842,872			145,027,663			145,027,663
Earnings per Common Partnership Unit:
Loss from continuing operations attributable to common unitholders	$	(0.09	)	$	(0.09	)	$	(0.11	)	$	(0.11	)
Discontinued operations attributable to common unitholders	0.25			0.25			0.06			0.06
Net income (loss) attributable to common unitholders	$	0.16		$	0.16		$	(0.05	)	$	(0.05	)