| Income (loss) Per Share/Unit |
Loss Per Share/Unit
The following tables set forth the computation of basic and diluted loss per share/unit (in thousands, except per share/unit data):
FelCor Loss Per Share | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, | | September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Numerator: | | | | | | | | Net income (loss) attributable to FelCor | $ | (5,099 | ) | | $ | (8,208 | ) | | $ | 3,370 |
| | $ | (4,709 | ) | Discontinued operations attributable to FelCor | 3,118 |
| | (496 | ) | | 3,118 |
| | (425 | ) | Income (loss) from continuing operations attributable to FelCor | (1,981 | ) | | (8,704 | ) | | 6,488 |
| | (5,134 | ) | Less: Preferred dividends | (6,279 | ) | | (6,279 | ) | | (18,837 | ) | | (23,860 | ) | Less: Redemption of preferred stock | — |
| | — |
| | — |
| | (6,096 | ) | Less: Dividends declared on unvested restricted stock | (36 | ) | | (13 | ) | | (109 | ) | | (40 | ) | Numerator for continuing operations attributable to FelCor common stockholders | (8,296 | ) | | (14,996 | ) | | (12,458 | ) | | (35,130 | ) | Discontinued operations attributable to FelCor | (3,118 | ) | | 496 |
| | (3,118 | ) | | 425 |
| Numerator for basic and diluted loss attributable to FelCor common stockholders | $ | (11,414 | ) | | $ | (14,500 | ) | | $ | (15,576 | ) | | $ | (34,705 | ) | Denominator: | | | | | | | | Denominator for basic and diluted loss per share | 137,464 |
| | 142,982 |
| | 138,437 |
| | 136,009 |
| Basic and diluted loss per share data: | | | | | | | | Loss from continuing operations | $ | (0.06 | ) | | $ | (0.10 | ) | | $ | (0.09 | ) | | $ | (0.26 | ) | Discontinued operations | $ | (0.02 | ) | | $ | — |
| | $ | (0.02 | ) | | $ | — |
| Net loss | $ | (0.08 | ) | | $ | (0.10 | ) | | $ | (0.11 | ) | | $ | (0.26 | ) |
| | 9. | Loss Per Share/Unit — (continued) |
FelCor LP Loss Per Unit | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, | | September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Numerator: | | | | | | | | Net income (loss) attributable to FelCor LP | $ | (5,149 | ) | | $ | (8,269 | ) | | $ | 3,303 |
| | $ | (4,859 | ) | Discontinued operations attributable to FelCor LP | 3,131 |
| | (498 | ) | | 3,131 |
| | (427 | ) | Income (loss) from continuing operations attributable to FelCor LP | (2,018 | ) | | (8,767 | ) | | 6,434 |
| | (5,286 | ) | Less: Preferred distributions | (6,279 | ) | | (6,279 | ) | | (18,837 | ) | | (23,860 | ) | Less: Redemption of preferred units | — |
| | — |
| | — |
| | (6,096 | ) | Less: Distributions declared on FelCor unvested restricted stock | (36 | ) | | (13 | ) | | (109 | ) | | (40 | ) | Numerator for continuing operations attributable to FelCor LP common unitholders | (8,333 | ) | | (15,059 | ) | | (12,512 | ) | | (35,282 | ) | Discontinued operations attributable to FelCor LP | (3,131 | ) | | 498 |
| | (3,131 | ) | | 427 |
| Numerator for basic and diluted loss attributable to FelCor common unitholders | $ | (11,464 | ) | | $ | (14,561 | ) | | $ | (15,643 | ) | | $ | (34,855 | ) | Denominator: | | | | | | | | Denominator for basic and diluted loss per unit | 138,075 |
| | 143,594 |
| | 139,048 |
| | 136,621 |
| Basic and diluted loss per unit data: | | | | | | | | Loss from continuing operations | $ | (0.06 | ) | | $ | (0.10 | ) | | $ | (0.09 | ) | | $ | (0.26 | ) | Discontinued operations | $ | (0.02 | ) | | $ | — |
| | $ | (0.02 | ) | | $ | — |
| Net loss | $ | (0.08 | ) | | $ | (0.10 | ) | | $ | (0.11 | ) | | $ | (0.26 | ) |
The income (loss) from continuing operations attributable to FelCor/FelCor LP share/unit calculations includes the net gain on sale of hotels attributable to FelCor/FelCor LP.
We do not include the following securities because they would have been antidilutive for the periods presented (in thousands): | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, | | September 30, | | 2016 | | 2015 | | 2016 | | 2015 | Series A convertible preferred shares/units | 9,984 | | 9,984 | | 9,984 |
| | | 9,984 |
| FelCor restricted stock units | 504 | | 1,173 | | 436 |
| | | 1,136 |
|
| | 9. | Loss Per Share/Unit — (continued) |
Series A preferred dividends (distributions) that would be excluded from net income (loss) attributable to FelCor common stockholders (or FelCor LP common unitholders), if these preferred shares/units were dilutive, were $6.3 million for the three months ended September 30, 2016 and 2015, and $18.8 million for the nine months ended September 30, 2016 and 2015.
We grant our executive officers restricted stock units each year, which provides them with the potential to earn shares of our common stock in three increments over three to four years. A portion of the actual number of shares that vest is determined based on total stockholder return relative to a group of ten lodging REIT peers, and a portion is related to service. We amortize the fixed cost of these grants over the vesting periods. We calculate the potential dilutive impact of these awards on our earnings per share using the treasury stock method. |