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EARNINGS (LOSS) PER SHARE/UNIT (Tables)
 6 Months Ended
Jun. 30, 2013
EARNINGS (LOSS) PER SHARE/UNIT  
Summary of the components used to calculate basic and diluted earnings per share/unit

A summary of the components used to calculate basic and diluted earnings per share follows (in thousands, except per share):

 

 

 

Second Quarter

 

First Six Months

 

 

 

2013

 

2012

 

2013

 

2012

 

Numerator:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

6,285

 

$

(162

)

$

7,991

 

$

(1,621

)

Less:

Preferred dividends

 

3,844

 

1,157

 

6,296

 

2,313

 

 

Allocation to participating securities

 

18

 

12

 

27

 

12

 

 

Attributable to noncontrolling interest

 

205

 

(247

)

131

 

(953

)

Income (loss) attributable to common stockholders from continuing operations

 

2,218

 

(1,084

)

1,537

 

(2,993

)

Income (loss) attributable to common stockholders from discontinued operations

 

368

 

(166

)

536

 

(1,148

)

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

2,586

 

$

(1,250

)

$

2,073

 

$

(4,141

)

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding - basic

 

65,480

 

30,553

 

64,090

 

28,916

 

Dilutive effect of equity-based compensation awards

 

474

 

142

 

362

 

71

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding - diluted

 

65,954

 

30,695

 

64,452

 

28,987

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share - basic and diluted:

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

0.03

 

$

(0.03

)

$

0.02

 

$

(0.10

)

Net income (loss) from discontinued operations

 

0.01

 

$

(0.01

)

0.01

 

$

(0.04

)

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

0.04

 

$

(0.04

)

$

0.03

 

$

(0.14

)

 

Summit Hotel OP, LP

 

A summary of the components used to calculate basic and diluted earnings per unit follows (in thousands, except per unit):

 

 

 

Second Quarter

 

First Six Months

 

 

 

2013

 

2012

 

2013

 

2012

 

Numerator:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

6,285

 

$

(162

)

$

7,991

 

$

(1,621

)

Less:

Preferred dividends

 

3,844

 

1,157

 

6,296

 

2,313

 

 

Attributable to noncontrolling interest

 

89

 

—

 

52

 

—

 

Income (loss) attributable to common unit holders from continuing operations

 

2,352

 

(1,319

)

1,643

 

(3,934

)

Income (loss) attributable to common unit holders from discontinued operations

 

385

 

(194

)

562

 

(1,540

)

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common unit holders

 

$

2,737

 

$

(1,513

)

$

2,205

 

$

(5,474

)

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding - basic

 

68,478

 

37,383

 

67,236

 

37,381

 

Dilutive effect of equity-based compensation awards

 

474

 

142

 

362

 

71

 

 

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding - diluted

 

68,952

 

37,525

 

67,598

 

37,452

 

 

 

 

 

 

 

 

 

 

 

Earnings per common unit - basic and diluted:

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

0.03

 

$

(0.03

)

$

0.02

 

$

(0.11

)

Net income (loss) from discontinued operations

 

0.01

 

(0.01

)

0.01

 

(0.04

)

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

0.04

 

$

(0.04

)

$

0.03

 

$

(0.15

)