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Earnings (Loss) Per Share/Unit | 12 Months Ended
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Dec. 31, 2012
Earnings (Loss) Per Share/Unit | NOTE 21 - EARNINGS (LOSS) PER SHARE/UNIT We apply the two-class method of computing earnings per share, which requires the calculation of separate earnings per share amounts for our non-vested time-based restricted stock awards and for our common stock. Our non-vested time-based restricted stock awards contain nonforfeitable rights to dividends and are considered securities which participate in undistributed earnings with common stock. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. Our non-vested time-based restricted stock awards do not have such an obligation so they are not allocated losses. At December 31, 2012 and 2011, we had 893,000 and 940,000 stock options outstanding, respectively, which were not included in the computation of diluted earnings per share, as the options’ exercise price was greater than the average market price of our common shares. In 2012 and 2011, our basic and diluted earnings per share are based on basic weighted average common shares outstanding due to our loss from continuing operations. Summit Hotel Properties, Inc. Below is a summary of the components used to calculate basic and diluted earnings per share (in thousands, except per share):
|  | 2012 |  |  | 2011 |
Numerator: |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | (3,627 | ) |  | $ | (5,106 | )
Less: Preferred dividends |  |  | 4,625 |  |  |  | 411 |
Allocation to participating securities |  |  | 37 |  |  |  | - |
Attributable to noncontrolling interest |  |  | (1,429 | ) |  |  | (1,491 | )
Income (loss) attributable to common shareholders |  |  |  |  |  |  |  |
from continuing operations |  |  | (6,860 | ) |  |  | (4,026 | )
Income (loss) attributable to common shareholders |  |  |  |  |  |  |  |
from discontinued operations |  |  | 1,122 |  |  |  | 678 |
Net income (loss) attributable to common shareholders |  | $ | (5,738 | ) |  | $ | (3,348 | )
Denominator: |  |  |  |  |  |  |  |
Weighted average common shares outstanding - basic |  |  | 33,717 |  |  |  | 27,278 |
Dilutive effect of equity-based compensation awards |  |  | 132 |  |  |  | - |
Weighted average common shares outstanding - diluted |  |  | 33,849 |  |  |  | 27,278 |
Earnings per common share - basic and diluted: |  |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders |  |  |  |  |  |  |  |
from continuing operations |  | $ | (0.20 | ) |  | $ | (0.15 | )
Net income (loss) attributable to common shareholders |  |  |  |  |  |  |  |
from discontinued operations |  |  | 0.03 |  |  |  | 0.03 |
Net income (loss) attributable to common shareholders |  | $ | (0.17 | ) |  | $ | (0.12 | )
Summit Hotel OP, LP Below is a summary of the components used to calculate basic and diluted earnings per unit (in thousands, except per unit):
|  | 2012 |  |  | 2011 |
Numerator: |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | (3,627 | ) |  | $ | (5,106 | )
Less preferred dividends |  |  | 4,625 |  |  |  | 411 |
Income (loss) attributable to common unitholders |  |  |  |  |  |  |  |
from continuing operations |  |  | (8,252 | ) |  |  | (5,517 | )
Income (loss) attributable to common unitholders |  |  |  |  |  |  |  |
from discontinued operations |  |  | 1,357 |  |  |  | 929 |
Net income (loss) attributable to common unitholders |  | $ | (6,895 | ) |  | $ | (4,588 | )
Denominator: |  |  |  |  |  |  |  |
Weighted average common units outstanding - basic |  |  | 40,780 |  |  |  | 37,378 |
Dilutive effect of equity-based compensation awards |  |  | 132 |  |  |  | - |
Weighted average common units outstanding - diluted |  |  | 40,912 |  |  |  | 37,378 |
Earnings per common unit - basic and diluted: |  |  |  |  |  |  |  |
Net income (loss) attributable to common unitholders |  |  |  |  |  |  |  |
from continuing operations |  | $ | (0.20 | ) |  | $ | (0.15 | )
Net income (loss) attributable to common unitholders |  |  |  |  |  |  |  |
from discontinued operations |  |  | 0.03 |  |  |  | 0.03 |
Net income (loss) attributable to common unitholders |  | $ | (0.17 | ) |  | $ | (0.12 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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