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Partners Equity of The Operating Partnership | 9 Months Ended
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Sep. 30, 2016
Equity [Abstract] |
PARTNERS' EQUITY OF THE OPERATING PARTNERSHIP | 11. PARTNERS’ EQUITY OF THE OPERATING PARTNERSHIP Earnings per Common Partnership Unit The following tables detail the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):
| Three-month periods ended September 30, |
| 2016 |  |  | 2015 |
| Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 7,884 |  |  | $ | 7,884 |  |  | $ | 20,308 |  |  | $ | 20,308 |
Nonforfeitable dividends allocated to unvested restricted unitholders |  | (79 | ) |  |  | (79 | ) |  |  | (76 | ) |  |  | (76 | )
Preferred unit dividends |  | (1,725 | ) |  |  | (1,725 | ) |  |  | (1,725 | ) |  |  | (1,725 | )
Net income attributable to non-controlling interests |  | (6 | ) |  |  | (6 | ) |  |  | (1 | ) |  |  | (1 | )
Net income attributable to common unitholders | $ | 6,074 |  |  | $ | 6,074 |  |  | $ | 18,506 |  |  | $ | 18,506 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average units outstanding |  | 176,606,909 |  |  |  | 176,606,909 |  |  |  | 179,723,139 |  |  |  | 179,723,139 |
Contingent securities/Share based compensation |  | - |  |  |  | 1,237,505 |  |  |  | - |  |  |  | 588,647 |
Total weighted-average units outstanding |  | 176,606,909 |  |  |  | 177,844,414 |  |  |  | 179,723,139 |  |  |  | 180,311,786 |
Earnings per Common Partnership Unit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common unitholders | $ | 0.03 |  |  | $ | 0.03 |  |  | $ | 0.10 |  |  | $ | 0.10 |
| Nine-month periods ended September 30, |
| 2016 |  |  | 2015 |
| Basic |  |  | Diluted |  |  | Basic |  |  | Diluted |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 52,871 |  |  | $ | 52,871 |  |  | $ | 31,960 |  |  | $ | 31,960 |
Nonforfeitable dividends allocated to unvested restricted unitholders |  | (263 | ) |  |  | (263 | ) |  |  | (253 | ) |  |  | (253 | )
Preferred unit dividends |  | (5,175 | ) |  |  | (5,175 | ) |  |  | (5,175 | ) |  |  | (5,175 | )
Net (income) loss attributable to non-controlling interests |  | (12 | ) |  |  | (12 | ) |  |  | 4 |  |  |  | 4 |
Net income attributable to common unitholders | $ | 47,421 |  |  | $ | 47,421 |  |  | $ | 26,536 |  |  | $ | 26,536 |
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average units outstanding |  | 176,491,311 |  |  |  | 176,491,311 |  |  |  | 180,733,816 |  |  |  | 180,733,816 |
Contingent securities/Share based compensation |  | - |  |  |  | 1,032,824 |  |  |  | - |  |  |  | 789,778 |
Total weighted-average units outstanding |  | 176,491,311 |  |  |  | 177,524,135 |  |  |  | 180,733,816 |  |  |  | 181,523,594 |
Earnings per Common Partnership Unit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common unitholders | $ | 0.27 |  |  | $ | 0.27 |  |  | $ | 0.15 |  |  | $ | 0.15 |
Unvested restricted units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share. For the three and nine- month periods ended September 30, 2016 and 2015, earnings representing nonforfeitable dividends as noted in the table above were allocated to the unvested restricted units issued to the Parent Company in connection with awards to the Parent Company’s executives and other employees under the Parent Company's shareholder-approved long-term incentive plan. Common Partnership Units and Preferred Mirror Units On September 13, 2016, the Operating Partnership declared a distribution of $0.16 per common partnership unit, totaling $28.3 million, which was paid on October 19, 2016 to unitholders of record as of October 5, 2016. In addition, the Operating Partnership declared distributions on its Series E-Linked Preferred Mirror Units to holders of record as of September 30, 2016. These units are entitled to a preferential return of 6.90% per annum on the $25.00 per unit liquidation preference. Distributions paid on October 17, 2016 to holders of Series E-Linked Preferred Mirror Units totaled $1.7 million.

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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 5 -Subparagraph (SAB TOPIC 4.F) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187171-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70434-108055 + Details
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