Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Net Income per Common Share or Common UnitBasic net income per common share or Common Unit is computed by dividing net income 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 per common share is computed by dividing the sum of net income attributable to common shareholders and the noncontrolling interest in earnings allocable to Limited Partner Units (to the extent the Limited Partner Units are dilutive), less dividends or distributions on participating securities that are anti-dilutive, by the sum of the weighted average number of common shares outstanding and, to the extent they are dilutive, weighted average number of Limited Partner Units outstanding and any potential dilutive securities for the period. Diluted net income per Common Unit is computed by dividing the net income attributable to common unitholders, less dividends or distributions on participating securities that are anti-dilutive, 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 (in thousands): 

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
General Partner
Net income attributable to common shareholders	$	39,820	$	71,053	$	59,276	$	115,604
Less: dividends on participating securities	(356)		(388)		(712)		(777)
Basic net income attributable to common shareholders	$	39,464	$	70,665	$	58,564	$	114,827
Add back dividends on dilutive participating securities	—		—		—		—
Noncontrolling interest in earnings of common unitholders	356		621		526		1,003
Diluted net income attributable to common shareholders	$	39,820	$	71,286	$	59,090	$	115,830
Weighted average number of common shares outstanding	368,836		359,681		368,513		359,412
Weighted average Limited Partner Units outstanding	3,331		3,145		3,277		3,105
Other potential dilutive shares	406		100		407		98
Weighted average number of common shares and potential dilutive securities	372,573		362,926		372,197		362,615
Partnership
Net income attributable to common unitholders	$	40,176	$	71,674	$	59,802	$	116,607
Less: distributions on participating securities	(356)		(388)		(712)		(777)
Basic net income attributable to common unitholders	$	39,820	$	71,286	$	59,090	$	115,830
Add back distributions on dilutive participating securities	—		—		—		—
Diluted net income attributable to common unitholders	$	39,820	$	71,286	$	59,090	$	115,830
Weighted average number of Common Units outstanding	372,167		362,826		371,790		362,517
Other potential dilutive units	406		100		407		98
Weighted average number of Common Units and potential dilutive securities	372,573		362,926		372,197		362,615

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,
	2020	2019	2020	2019
General Partner and Partnership
Other potential dilutive shares or units:
Anti-dilutive outstanding potential shares or units under fixed stock option and other stock-based compensation plans	—	—	—	—
Anti-dilutive outstanding participating securities	1,660	1,960	1,660	1,960