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Earnings per Share / Unit (Tables) | 9 Months Ended
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Sep. 30, 2017
Earnings Per Share [Abstract] |
Computation of Net Income (Loss) per Share on Basic and Diluted Basis | The following table reflects the Company's computation of net income (loss) per share on a basic and diluted basis for the three and nine months ended September 30, 2017 and 2016 (in thousands, except share and per share data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 19,097 |  |  | $ | (167 | ) |  | $ | 45,959 |  |  | $ | 1,108 |
Less: |  |  |  |  |  |  |
Noncontrolling interest | 309 |  |  | 7,316 |  |  | (22 | ) |  | 10,391 |
Dividends on preferred shares | 17,253 |  |  | 13,669 |  |  | 46,122 |  |  | 26,650 |
Allocation to participating securities (1) | 12 |  |  | — |  |  | — |  |  | — |
Numerator for basic income (loss) per common share | $ | 1,523 |  |  | $ | (21,152 | ) |  | $ | (141 | ) |  | $ | (35,933 | )
Add back: |  |  |  |  |  |  |
Dividends on participating preferred shares (2) | 5,569 |  |  | — |  |  | — |  |  | — |
Remeasurement of participating preferred shares (2) | (8,391 | ) |  | — |  |  | — |  |  | — |
Numerator for diluted loss per common share | $ | (1,299 | ) |  | $ | (21,152 | ) |  | $ | (141 | ) |  | $ | (35,933 | )
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding–basic | 266,767,313 |  |  | 238,401,343 |  |  | 256,768,343 |  |  | 232,036,802 |
Effect of dilutive securities: |  |  |  |  |  |  |
Participating preferred shares (2) | 22,385,747 |  |  | — |  |  | — |  |  | — |
Weighted-average common shares outstanding–diluted | 289,153,060 |  |  | 238,401,343 |  |  | 256,768,343 |  |  | 232,036,802 |
Net income (loss) per common share: |  |  |  |  |  |  |
Basic | $ | 0.01 |  |  | $ | (0.09 | ) |  | $ | — |  |  | $ | (0.15 | )
Diluted | $ | — |  |  | $ | (0.09 | ) |  | $ | — |  |  | $ | (0.15 | )
(1) | Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock.
(2) | Reflects the dilutive effect of the assumed conversion of the participating preferred shares into Class A common shares.
The following table reflects the Operating Partnership's computation of net income (loss) per unit on a basic and diluted basis for the three and nine months ended September 30, 2017 and 2016 (in thousands, except unit and per unit data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 19,097 |  |  | $ | (167 | ) |  | $ | 45,959 |  |  | $ | 1,108 |
Less: |  |  |  |  |  |  |
Noncontrolling interest | (31 | ) |  | (226 | ) |  | 8 |  |  | (446 | )
Preferred distributions | 17,253 |  |  | 13,669 |  |  | 46,122 |  |  | 26,650 |
Income allocated to Series C and D limited partners | — |  |  | 10,915 |  |  | — |  |  | 16,478 |
Allocation to participating securities (1) | 12 |  |  | — |  |  | — |  |  | — |
Numerator for basic income (loss) per common unit | $ | 1,863 |  |  | $ | (24,525 | ) |  | $ | (171 | ) |  | $ | (41,574 | )
Add back: |  |  |  |  |  |  |
Distributions to participating preferred units (2) | 5,569 |  |  | — |  |  | — |  |  | — |
Remeasurement of participating preferred units (2) | (8,391 | ) |  | — |  |  | — |  |  | — |
Numerator for diluted loss per common unit | $ | (959 | ) |  | $ | (24,525 | ) |  | $ | (171 | ) |  | $ | (41,574 | )
Denominator: |  |  |  |  |  |  |
Weighted-average common units outstanding–basic | 322,303,138 |  |  | 285,208,489 |  |  | 312,315,728 |  |  | 271,994,345 |
Effect of dilutive securities: |  |  |  |  |  |  |
Participating preferred units (2) | 22,385,747 |  |  | — |  |  | — |  |  | — |
Weighted-average common units outstanding–diluted | 344,688,885 |  |  | 285,208,489 |  |  | 312,315,728 |  |  | 271,994,345 |
Net income (loss) per common unit: |  |  |  |  |  |  |
Basic | $ | 0.01 |  |  | $ | (0.09 | ) |  | $ | — |  |  | $ | (0.15 | )
Diluted | $ | — |  |  | $ | (0.09 | ) |  | $ | — |  |  | $ | (0.15 | )
(1) | Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock.
(2) | Reflects the dilutive effect of the assumed conversion of the participating preferred units into Class A common units.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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