Earnings (Loss) Per Common Unit

6 Months Ended

Jun. 30, 2011

Earnings (Loss) Per Common Unit

Earnings (Loss) Per Common Unit

14. Earnings (Loss) Per Common Unit

The following table shows the computation of basic and diluted net income (loss) per common unit for the three and six months ended June 30, 2011 and 2010, and the weighted-average units used to compute diluted net income (loss) per common unit (in thousands, except per unit data):

	Three months ended June 30,				Six months ended June 30,
	2011		2010		2011			2010
Net income (loss) attributable to the Partnership	$	78,497	$	60,217	$	(5,532	)	$	81,727
Less: Income allocable to phantom units	719		455		847			551
Income (loss) available for common unitholders	$	77,778	$	59,762	$	(6,379	)	$	81,176
Weighted average common units outstanding - basic	75,160		71,111		74,847			68,795
Effect of dilutive instruments (1)	106		187		—			94
Weighted average common units outstanding - diluted (1)	75,266		71,298		74,847			68,889
Net income (loss) attributable to the Partnership’s common unitholders per common unit
Basic	$	1.03	$	0.84	$	(0.09	)	$	1.18
Diluted	$	1.03	$	0.84	$	(0.09	)	$	1.18

(1) Dilutive instruments include TSR Performance Units and are based on the number of units, if any, that would be issuable at the end of the respective reporting period, assuming that date was the end of the contingency period. For the six months ended June 30, 2011, 131 units were excluded from the calculation of diluted units because the impact was anti-dilutive.