Earnings per Unit

9 Months Ended

Sep. 30, 2015

Schedule of Earnings per Share [Line Items]

Earnings per Share

Basic earnings per share (“EPS”) is calculated by dividing net income attributable to the Company’s common stockholders, including participating securities, by the weighted average number of shares outstanding for the period. Certain restricted shares issued pursuant to the Company’s share-based compensation program are considered participating securities, as such shares have rights to receive non-forfeitable dividends. Unvested restricted shares are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the common stockholders. Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock.

The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and nine months ended September 30, 2015 and 2014:



	Three Month Ended September 30,						Nine Month Ended September 30,
	2015			2014			2015			2014
Computation of Basic Earnings Per Share:
Income from continuing operations	$	54,819		$	33,823		$	141,122		$	87,595
Income attributable to non-controlling interests	(1,046		)	(6,826		)	(2,814		)	(21,778		)
Non-forfeitable dividends on unvested restricted shares	(6		)	(268		)	(17		)	(805		)
Income from continuing operations attributable to common stockholders	53,767			26,729			138,291			65,012
Income from discontinued operations, net of non-controlling interests	—			33			—			87
Net income attributable to the Company’s common stockholders for basic earnings per share	$	53,767		$	26,762		$	138,291		$	65,099

Weighted average number shares outstanding - basic	298,464			244,078			297,714			233,781

Basic Earnings Per Share Attributable to the Company’s Common Stockholders:
Income from continuing operations	$	0.18		$	0.11		$	0.46		$	0.28
Income from discontinued operations	—			—			—			—
Net income	$	0.18		$	0.11		$	0.46		$	0.28

Computation of Diluted Earnings Per Share:
Income from continuing operations attributable to common stockholders	$	53,767		$	26,729		$	138,291		$	65,012
Allocation to convertible non-controlling interests	—			—			2,814			—
Income from continuing operations attributable to common stockholders for diluted earnings per share	53,767			26,729			141,105			65,012
Income from discontinued operations, net of nonconvertible non-controlling interests	—			33			—			87
Net income attributable to the Company’s common stockholders for diluted earnings per share	$	53,767		$	26,762		$	141,105		$	65,099

Weighted average shares outstanding - basic	298,464			244,078			297,714			233,781
Effect of dilutive securities:
Conversion of OP Units	—			—			6,185			—
Equity awards	472			757			807			1,139
Weighted average shares outstanding - diluted	298,936			244,835			304,706			234,920

Diluted Earnings Per Share Attributable to the Company’s Common Stockholders:
Income from continuing operations	$	0.18		$	0.11		$	0.46		$	0.28
Income from discontinued operations	—			—			—			—
Net income	$	0.18		$	0.11		$	0.46		$	0.28

Brixmor Operating Partnership LP [Member]

Schedule of Earnings per Share [Line Items]

Earnings per Unit

Basic earnings per unit is calculated by dividing net income attributable to the Operating Partnership’s common units, including participating securities, by the weighted average number of partnership common units outstanding for the period. Certain restricted units issued pursuant to the Company’s share-based compensation program are considered participating securities. Unvested restricted units are not allocated net losses, as such amounts are allocated entirely to the partnership common units.

The following table provides a reconciliation of the numerator and denominator of the earnings per unit calculations for the three and nine months ended September 30, 2015 and 2014:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Computation of Basic Earnings Per Unit:
Income from continuing operations	$	54,819		$	33,823		$	141,122		$	87,595
Income attributable to non-controlling interests	—			(322		)	—			(2,786		)
Non-forfeitable dividends on unvested restricted shares	(6		)	(268		)	(17		)	(805		)
Income from continuing operations attributable to partnership common units	54,813			33,233			141,105			84,004
Income from discontinued operations, net of Series A interest	—			41			—			113
Net income attributable to the Operating Partnership’s common units for basic earnings per unit	$	54,813		$	33,274		$	141,105		$	84,117

Weighted average number of common units outstanding - basic	304,270			302,890			303,899			302,407

Basic Earnings Per Unit Attributable to the Operating Partnership’s Common Units:
Income from continuing operations	$	0.18		$	0.11		$	0.46		$	0.28
Income from discontinued operations	—			—			—			—
Net Income	$	0.18		$	0.11		$	0.46		$	0.28

Computation of Diluted Earnings Per Unit:
Income from continuing operations attributable to partnership common units	$	54,813		$	33,233		$	141,105		$	84,004
Income from discontinued operations, net of Series A interest	—			41			—			113
Net income attributable to the Operating Partnership’s common units for diluted earnings per unit	$	54,813		$	33,274		$	141,105		$	84,117

Weighted average common units outstanding - basic	304,270			302,890			303,899			302,407
Effect of dilutive securities:
Equity awards	472			757			807			1,139
Weighted average common units outstanding - diluted	304,742			303,647			304,706			303,546

Diluted Earnings Per Unit Attributable to the Operating Partnership’s Common Units:
Income from continuing operations	$	0.18		$	0.11		$	0.46		$	0.28
Income from discontinued operations	—			—			—			—
Net Income	$	0.18		$	0.11		$	0.46		$	0.28