EARNINGS (LOSS) PER SHARE/UNIT (Tables)

9 Months Ended

Sep. 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):

	Third Quarter						First Nine Months
	2013			2012			2013			2012
Numerator:
Income (loss) from continuing operations	$	1,116		$	112		$	12,270		$	(2,602	)
Less: Preferred dividends	4,147			1,156			10,443			3,469
Allocation to participating securities	21			12			52			24
Attributable to noncontrolling interest	155			(169		)	404			(1,488		)
Income (loss) attributable to common stockholders from continuing operations	(3,207		)	(887		)	1,371			(4,607		)
Income (loss) attributable to common stockholders from discontinued operations	(1,631		)	1,281			(4,109		)	860
Net income (loss) attributable to common stockholders	$	(4,838	)	$	394		$	(2,738	)	$	(3,747	)
Denominator:
Weighted average common shares outstanding - basic	68,157			31,308			65,460			29,713
Dilutive effect of equity-based compensation awards	457			193			394			107
Weighted average common shares outstanding - diluted	68,614			31,501			65,854			29,820
Earnings per common share - basic and diluted:
Net income (loss) from continuing operations	$	(0.05	)	$	(0.03	)	$	0.02		$	(0.16	)
Net income (loss) from discontinued operations	(0.02		)	0.04			(0.06		)	0.03
Net income (loss)	$	(0.07	)	$	0.01		$	(0.04	)	$	(0.13	)

Summit Hotel OP, LP

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

	Third Quarter						First Nine Months
	2013			2012			2013			2012
Numerator:
Income (loss) from continuing operations	$	1,116		$	112		$	12,270		$	(2,602	)
Less: Preferred dividends	4,147			1,156			10,443			3,469
Attributable to noncontrolling interest	272			—			324			—
Income (loss) attributable to common unit holders from continuing operations	(3,303		)	(1,044		)	1,503			(6,071		)
Income (loss) attributable to common unit holders from discontinued operations	(1,697		)	1,529			(4,297		)	1,081
Net income (loss) attributable to common unit holders	$	(5,000	)	$	485		$	(2,794	)	$	(4,990	)
Denominator:
Weighted average common units outstanding - basic	70,917			37,393			68,476			37,385
Dilutive effect of equity-based compensation awards	457			193			394			107
Weighted average common units outstanding - diluted	71,374			37,586			68,870			37,492
Earnings per common unit - basic and diluted:
Net income (loss) from continuing operations	$	(0.05	)	$	(0.03	)	$	0.02		$	(0.16	)
Net income (loss) from discontinued operations	(0.02		)	0.04			(0.06		)	0.03
Net income (loss)	$	(0.07	)	$	0.01		$	(0.04	)	$	(0.13	)