Basic earnings per share (“EPS”) is computed by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS assumes the issuance of common stock for all potential dilutive common shares outstanding. The limited partners’ rights to convert their noncontrolling interests in the Operating Partnership into shares of common stock are not dilutive. There were no potential dilutive common shares and there were no anti-dilutive shares for the three months ended March 31, 2021 and 2020.

Basic earnings per unit (“EPU”) is computed using the two-class method. The two-class method is required when either (i) participating securities or (ii) multiple classes of common stock exists. The Operating Partnership’s special common units, and common units issued upon the conversion or redemption of special common units, meet the definition of participating securities as these units have the contractual right and obligation to share in the Operating Partnership’s net income (loss) and distributions. Under this approach net income (loss) attributable to common unitholders is reduced by the amount of distributions made (declared) to all common unitholders and by the amount of distributions that are required to be made (declared and undeclared) to special common unitholders. Distributed and undistributed earnings is subsequently divided by the weighted-average number of common and special common units outstanding for the period to compute basic EPU for each unit. Undistributed losses are allocated 100 percent to common units, other than common units issued upon the conversion or redemption of special common units. The special common units, and common units issued upon the conversion or redemption of special common units, only participate in undistributed losses in the event of a liquidation. Diluted EPU is computed by considering either the two-class method or the if-converted method, whichever results in more dilution. The if-converted method assumes the issuance of common units for all potential dilutive special common units outstanding. Due to the loss position (negative earnings) of the Operating Partnership for the three months ended March 31, 2021 and 2020 all special common units, and common units issued upon the conversion or redemption of special common units, are antidilutive. The calculation of diluted EPU through the if-converted method would reduce the loss per share (as a result of an increase number of shares in the denominator) for the common units. Therefore, in a loss position diluted EPU is equal to basic EPU. There were no potential dilutive common units and there were no anti-dilutive units other than the special common units, and common units issued upon the conversion or redemption of special common units, outstanding for the three months ended March 31, 2021 and 2020.

The following table presents basic and diluted EPU for common and special common units for the three months ended March 31, 2021 and 2020.

	Three Months Ended March 31,
		2021			2020
Net Loss Attributable to Common Unitholders	$	(27,461	)	$	(150,310	)
Distributions to Common Unitholders - Declared Only		—			—
Distributions to Special Common Unitholders - Declared and Undeclared
Common units issued on conversion of SCUs		—			—
S-SCUs		—			(1,143	)
L-SCUs		—			(433	)
K-SCUs		—			(844	)
Total Undistributed Loss Available to Common and Special Common Unitholders	$	(27,461	)	$	(152,730	)

Distributed Earnings:
Common units issued on conversion of SCUs	$	—		$	—
S-SCUs		—			1,143
L-SCUs		—			433
K-SCUs		—			844
Common Units		—			—

Undistributed Loss:
Common units issued on conversion of SCUs	$	—		$	—
S-SCUs		—			—
L-SCUs		—			—
K-SCUs		—			—
Common Units		(27,461	)		(152,730	)

Weighted Average:
Common units issued on conversion of SCUs	$	936		$	2,300
S-SCUs		1,561			1,561
L-SCUs		572			572
K-SCUs		869			1,137
Common Units		197,689			195,688

Basic EPU:
Common units issued on conversion of SCUs	$	—		$	—
S-SCUs		—			0.73
L-SCUs		—			0.76
K-SCUs		—			0.74
Common Units		(0.14	)		(0.78	)

Total Basic EPU	$	(0.14	)	$	(0.75	)

Diluted EPU:
Common units issued on conversion of SCUs	$	—		$	—
S-SCUs		—			0.73
L-SCUs		—			0.76
K-SCUs		—			0.74
Common Units		(0.14	)		(0.78	)

Total Diluted EPU	$	(0.14	)	$	(0.75	)

For additional information regarding the participation rights and minimum distributions relating to the common and special common units, see Note 10. Shareholders’ Equity and Partners’ Capital and Note 11. Redeemable Interests and Noncontrolling Interests of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Pursuant to the terms of the Series L special common units of limited partnership interest, the Series L special common units began receiving distributions equal to those on the common units beginning on June 1, 2020. The undeclared distributions on the preferred units and special common units ceased to cumulate as of the Commencement Date as a result of the Chapter 11 Cases.