Income (Loss) Per Unit

6 Months Ended

Jun. 30, 2011

Income (Loss) Per Unit

The following table sets forth the computation of basic and diluted income (loss) per unit (in thousands, except per unit data):



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Numerator:
Net income (loss) attributable to FelCor LP	$	(42,448	)	$	21,665		$	(74,232	)	$	(41,048	)
Discontinued operations attributable to FelCor LP	(6,639		)	1,094			(7,461		)	25,642
Income (loss) from continuing operations attributable to FelCor LP	(49,087		)	22,759			(81,693		)	(15,406		)
Less: Preferred distributions	(9,678		)	(9,678		)	(19,356		)	(19,356		)
Less: Undistributed earnings allocated to unvested FelCor restricted stock	—			(352		)	—			—
Numerator for continuing operations attributable to FelCor LP common unitholders	(58,765		)	12,729			(101,049		)	(34,762		)
Discontinued operations attributable to FelCor LP	6,639			(1,094		)	7,461			(25,642		)
Numerator for basic and diluted income (loss) attributable to FelCor LP common unitholders	$	(52,126	)	$	11,635		$	(93,588	)	$	(60,404	)
Denominator:
Denominator for basic and diluted income (loss) per unit	123,425			66,826			109,608			65,309
Basic and diluted income (loss) per unit data:
Income (loss) from continuing operations	$	(0.48	)	$	0.19		$	(0.92	)	$	(0.53	)
Discontinued operations	$	0.05		$	(0.02	)	$	0.07		$	(0.39	)
Net income (loss)	$	(0.42	)	$	0.17		$	(0.85	)	$	(0.92	)

Securities that could potentially dilute earnings per unit in the future that were not included in the computation of diluted income (loss) per unit, because they would have been antidilutive for the periods presented, are as follows (in thousands):



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2011	2010	2011	2010
Series A convertible preferred units	9,985	9,985	9,985	9,985

Series A preferred distributions that would be excluded from net income (loss) attributable to FelCor LP common unitholders, if these Series A preferred units were dilutive, were $6.3 million for the three months ended June 30, 2011 and 2010, and $12.6 million for the six months ended June 30, 2011 and 2010.

FelCor Lodging LP 10-Q