INCOME/(LOSS) PER SHARE

The following table sets forth the computation of basic and diluted income/(loss) per share for the periods presented (dollars and shares in thousands, except per share data):



	Year Ended December 31,
	2015			2014			2013
Numerator for income/(loss) per share:
Income/(loss) from continuing operations	$	105,482		$	16,260		$	2,340
Gain/(loss) on sale of real estate owned, net of tax	251,677			143,572			—
(Income)/loss from continuing operations attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	(16,773		)	(5,511		)	48
(Income)/loss from continuing operations attributable to noncontrolling interests	(3		)	3			60
Income/(loss) from continuing operations attributable to UDR, Inc.	340,383			154,324			2,448
Distributions to preferred stockholders - Series E (Convertible)	(3,722		)	(3,724		)	(3,724		)
Income/(loss) from continuing operations attributable to common stockholders - basic	336,661			150,600			(1,276		)
Dilutive distributions to preferred stockholders - Series E (Convertible)	3,722			—			—
Income/(loss) from continuing operations attributable to common stockholders - dilutive	$	340,383		$	150,600		$	(1,276	)

Income/(loss) from discontinued operations, net of tax	$	—		$	10		$	43,942
(Income)/loss from discontinued operations attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership	—			—			(1,578		)
Income/(loss) from discontinued operations attributable to common stockholders	$	—		$	10		$	42,364

Net income/(loss) attributable to common stockholders	$	336,661		$	150,610		$	41,088

Denominator for income/(loss) per share - basic and diluted:
Weighted average common shares outstanding	259,873			252,707			250,684
Non-vested restricted stock awards	(1,204		)	(1,179		)	(715		)
Denominator for income/(loss) per share - basic	258,669			251,528			249,969
Incremental shares issuable from assumed conversion of dilutive preferred stock, stock options and unvested restricted stock	5,083			1,917			—
Denominator for income/(loss) per share - diluted	263,752			253,445			249,969

Income/(loss) per weighted average common share - basic:
Income/(loss) from continuing operations attributable to common stockholders	$	1.30		$	0.60		$	(0.01	)
Income/(loss) from discontinued operations attributable to common stockholders	—			—			0.17
Net income/(loss) attributable to common stockholders	$	1.30		$	0.60		$	0.16

Income/(loss) per weighted average common share - diluted:
Income/(loss) from continuing operations attributable to common stockholders	$	1.29		$	0.59		$	(0.01	)
Income/(loss) from discontinued operations attributable to common stockholders	—			—			0.17
Net income/(loss) attributable to common stockholders	$	1.29		$	0.59		$	0.16

Basic income/(loss) per common share is computed based upon the weighted average number of common shares outstanding. Diluted income/(loss) per share is computed based upon the common shares issuable from the assumed conversion of the OP Units and DownREIT Units, convertible preferred stock, stock options, and restricted stock. Only those instruments having a dilutive impact on our basic income/(loss) per share are included in diluted income/(loss) per share during the periods. For the year ended December 31, 2015, the Company’s Series E preferred stock, stock options, and unvested restricted stock were dilutive. The effect of the conversion of the OP Units and DownREIT Units was not dilutive, and therefore not included in the above calculations.

For the year ended December 31, 2014, the Company’s stock options and unvested restricted stock were dilutive for purposes of calculating income/(loss) per share. The effect of the conversion of the OP Units and the Company’s Series E preferred stock were not dilutive, and therefore not included in the above calculations.

For the year ended December 31, 2013, the effect of the conversion of the OP Units, the Company’s Series E preferred stock, stock options and restricted stock were not included in the above calculations as the Company reported a loss from continuing operations attributable to common stockholders.

The following table sets forth the additional shares of common stock outstanding by equity instrument if converted to common stock for each of the years ended December 31, 2015, 2014, and 2013 (shares in thousands):



	Year Ended December 31,
	2015	2014	2013
OP Units	12,947	9,247	9,337
DownREIT Units	16,229	—	—
Preferred Stock	3,032	3,036	3,036
Stock options and unvested restricted stock	2,051	1,917	1,584