| Net Income Per Common Unit |
NET INCOME PER COMMON UNIT
The following data was used in computing net income (loss) per common unit shown in the consolidated statements of operations: | | | | | | | | | | | | | | Year Ended December 31, | | 2012 | | 2011 | | 2010 | Net income from continuing operations | $ | 53,330 |
| | $ | 78,389 |
| | $ | 16,802 |
| Decrease in deferred fee liability (a) | — |
| | (6,107 | ) | | — |
| Restricted stock expense | 121 |
| | — |
| | — |
| Net income attributable to noncontrolling interests in consolidated entities | (17,977 | ) | | (44,521 | ) | | (248 | ) | Net income from continuing operations | 35,474 |
| | 27,761 |
| | 16,554 |
| Income from discontinued operations | 10,435 |
| | 2,888 |
| | 29,644 |
| Net income attributable to noncontrolling interests | (4,770 | ) | | (1,287 | ) | | (14,451 | ) | | 5,665 |
| | 1,601 |
| | 15,193 |
| Net income attributable to common unitholders | $ | 41,139 |
| | $ | 29,362 |
| | $ | 31,747 |
| Net income per common unit - basic | | | | | | Net income from continuing operations | $ | 1.19 |
| | $ | 1.34 |
| | $ | 0.66 |
| Net income from discontinued operations | 0.19 |
| | 0.07 |
| | 0.60 |
| Net income attributable to common unitholders | $ | 1.38 |
| | $ | 1.41 |
| | $ | 1.26 |
| Net income per common unit – diluted | | | | | | Net income from continuing operations | $ | 1.19 |
| | $ | 0.94 |
| | $ | 0.60 |
| Net income from discontinued operations | 0.19 |
| | 0.05 |
| | 0.56 |
| Net income attributable to common unitholders | $ | 1.38 |
| | $ | 0.99 |
| | $ | 1.16 |
| Weighted average common units outstanding - basic | 29,748,746 |
| | 25,232,985 |
| | 25,234,827 |
| Adjustment for deferred fee liabilities (a) | — |
| | 4,021,933 |
| | — |
| Adjustment for distribution payable (b) | — |
| | 414,110 |
| | 2,247,977 |
| Unvested restricted stock | 25,781 |
| | 554 |
| | — |
| Denominator for net income per common unit - diluted | 29,774,527 |
| | 29,669,582 |
| | 27,482,804 |
|
| | (a) | Includes common units assuming a common unit settlement of the deferred fee liability as described in Note 13 - “Related Party Transactions.” |
| | (b) | Includes common units assuming a common unit settlement of the distribution payable. The Target Distribution liability described in Note 16 - "Capital and Accumulated Other Comprehensive Loss" may be settled in common units. |
|