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NET INCOME (LOSS) PER COMMON UNIT | 6 Months Ended
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Jun. 30, 2012
NET INCOME (LOSS) PER COMMON UNIT |
13. | NET INCOME (LOSS) PER COMMON UNIT
Basic and diluted net income (loss) per common unit for the three and six months ended June 30, 2012 and June 30, 2011 was calculated as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net Income (Loss) Attributable to The Blackstone Group L.P. |  | $ | (74,964 | ) |  | $ | 86,237 |  |  | $ | (16,639 | ) |  | $ | 128,941 |
Basic Net Income (Loss) Per Common Unit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-Average Common Units Outstanding |  |  | 528,778,977 |  |  |  | 476,289,647 |  |  |  | 517,882,253 |  |  |  | 462,094,878 |
Net Income (Loss) Per Common Unit |  | $ | (0.14 | ) |  | $ | 0.18 |  |  | $ | (0.03 | ) |  | $ | 0.28 |
Diluted Net Income (Loss) Per Common Unit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-Average Common Units Outstanding |  |  | 528,778,977 |  |  |  | 476,289,647 |  |  |  | 517,882,253 |  |  |  | 462,094,878 |
Weighted-Average Unvested Deferred Restricted Common Units |  |  | — |  |  |  | 7,353,999 |  |  |  | — |  |  |  | 6,523,856 |
Weighted-Average Diluted Common Units Outstanding |  |  | 528,778,977 |  |  |  | 483,643,646 |  |  |  | 517,882,253 |  |  |  | 468,618,734 |
Diluted Net Income (Loss) Per Common Unit |  | $ | (0.14 | ) |  | $ | 0.18 |  |  | $ | (0.03 | ) |  | $ | 0.28 |
The following table summarizes the anti-dilutive securities for the three and six months ended June 30, 2012 and 2011:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Weighted-Average Blackstone Holdings Partnership Units |  |  | 591,155,160 |  |  |  | 625,526,089 |  |  |  | 596,986,114 |  |  |  | 641,817,877 |
Unit Repurchase Program In January 2008, Blackstone announced that the Board of Directors of its general partner, Blackstone Group Management L.L.C., had authorized the repurchase by Blackstone of up to $500 million of Blackstone Common Units and Blackstone Holdings Partnership Units. Under this unit repurchase program, units may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual number of Blackstone Common Units and Blackstone Holdings Partnership Units repurchased will depend on a variety of factors, including legal requirements, price and economic and market conditions. This unit repurchase program may be suspended or discontinued at any time and does not have a specified expiration date. During the six months ended June 30, 2012, no units were repurchased. As of June 30, 2012, the amount remaining available for repurchases under this program was $335.8 million. During the six months ended June 30, 2011, Blackstone repurchased 116,270 vested Blackstone Holdings Partnership Units as part of the unit repurchase program for a total fair value of $2.1 million.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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