XML 52 R21.htm IDEA: XBRL DOCUMENT

EARNINGS PER LIMITED PARTNER UNIT

3 Months Ended

Mar. 31, 2020

14.EARNINGS PER LIMITED PARTNER UNIT

We utilize the two-class method in calculating basic and diluted earnings per limited partner unit ("EPU"). Net (loss) income attributable to ARLP is allocated to limited partners and participating securities under deferred compensation

plans, which include rights to nonforfeitable distributions or distribution equivalents. Our participating securities are outstanding awards under our Long-Term Incentive Plan ("LTIP") and phantom units in notional accounts under our Supplemental Executive Retirement Plan ("SERP") and the MGP Amended and Restated Deferred Compensation Plan for Directors ("Directors' Deferred Compensation Plan").

The following is a reconciliation of net (loss) income attributable to ARLP used for calculating basic and diluted earnings per unit and the weighted-average units used in computing EPU for the three months ended March 31, 2020 and 2019:


	Three Months Ended
	March 31,
	2020		2019
	(in thousands, except per unit data)
Net (loss) income attributable to ARLP	$	(144,783)	$	276,428

Less:
Distributions to participating securities		—		(1,105)
Undistributed earnings attributable to participating securities		—		(3,522)

Net (loss) income attributable to ARLP available to limited partners	$	(144,783)	$	271,801

Weighted-average limited partner units outstanding – basic and diluted		127,072		128,150

Earnings per limited partner unit - basic and diluted (1)	$	(1.14)	$	2.12

(1)

Diluted EPU gives effect to all potentially dilutive common units outstanding during the period using the treasury stock method. Diluted EPU excludes all potentially dilutive units calculated under the treasury stock method if their effect is anti-dilutive. The combined total of LTIP, SERP and Directors' Deferred Compensation Plan units of 851 and 1,365 for the three months ended March 31, 2020 and 2019, respectively, were considered anti-dilutive under the treasury stock method.