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Earnings per Share / Unit (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Computation of Net Loss per Share on Basic and Diluted Basis
The following table reflects the Operating Partnership's computation of net income or loss per common unit on a basic and diluted basis for the years ended December 31, 2017, 2016 and 2015 (in thousands, except unit and per unit data): 
 
For the Years Ended December 31,
 
2017
 
2016
 
2015
Numerator:
 

 
 

 
 

Net income (loss)
$
76,492

 
$
10,446

 
$
(47,948
)
Less:
 
 
 
 
 
Noncontrolling interest
141

 
(562
)
 
(157
)
Preferred distributions
60,718

 
40,237

 
22,276

Redemption of participating preferred units
42,416

 
—

 
—

Income allocated to Series C and D limited partners
—

 
10,730

 
20,212

Numerator for loss per common unit–basic and diluted
$
(26,783
)
 
$
(39,959
)
 
$
(90,279
)
 
 
 
 
 
 
Denominator:
 
 
 
 
 
Weighted-average common units outstanding (1)
319,753,206

 
277,912,532

 
225,040,781

 
 
 
 
 
 
Net loss per common unit–basic and diluted
$
(0.08
)
 
$
(0.14
)
 
$
(0.40
)

(1)    The computation of diluted earnings per unit for the years ended December 31, 2017, 2016 and 2015, excludes an aggregate of 17,084,135, 32,914,593 and 19,636,050 potentially dilutive securities, respectively, which include a combination of participating preferred units, exchangeable senior notes, common units issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods.
The following table reflects the Company's computation of net income or loss per common share on a basic and diluted basis for the years ended December 31, 2017, 2016 and 2015 (in thousands, except share and per share data):
 
For the Years Ended December 31,
 
2017
 
2016
 
2015
Numerator:
 
 
 
 
 
Net income (loss)
$
76,492

 
$
10,446

 
$
(47,948
)
Less:
 
 
 
 
 
Noncontrolling interest
(4,507
)
 
3,751

 
14,353

Dividends on preferred shares
60,718

 
40,237

 
22,276

Redemption of participating preferred shares
42,416

 
—

 
—

Numerator for loss per common share–basic and diluted
$
(22,135
)
 
$
(33,542
)
 
$
(84,577
)
 
 
 
 
 
 
Denominator:
 
 
 
 
 
Weighted-average common shares outstanding–basic and diluted (1)
264,254,718

 
234,010,168

 
210,600,111

 
 
 
 
 
 
Net loss per common share–basic and diluted
$
(0.08
)
 
$
(0.14
)
 
$
(0.40
)

 
(1)
The computation of diluted earnings per share for the years ended December 31, 2017, 2016 and 2015, excludes an aggregate of 17,084,135, 32,914,593 and 19,636,050 potentially dilutive securities, respectively, which include a combination of participating preferred shares, exchangeable senior notes, common shares issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods. The effect of the potential conversion of OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share.