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Earnings Per Limited Partner Unit
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Limited Partner Unit Earnings Per Limited Partner Unit

Our net income (loss) attributable to Crestwood Equity Partners is allocated to the subordinated and limited partner unitholders based on their ownership percentage after giving effect to net income attributable to the preferred units. We calculate basic net income per limited partner unit using the two-class method. Diluted net income per limited partner unit is computed using the treasury stock method, which considers the impact to net income or loss attributable to Crestwood Equity Partners and limited partner units from the potential issuance of limited partner units.

We exclude potentially dilutive securities from the determination of diluted earnings per unit (as well as their related income statement impacts) when their impact on net income attributable to Crestwood Equity Partners per limited partner unit is anti-dilutive. The following table summarizes information regarding the weighted-average of common units excluded during the years ended December 31, 2019, 2018 and 2017 (in millions):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Preferred units (1)
 
7.1

 
7.1

 
7.0

Crestwood Niobrara’s preferred units(1)
 
—

 
6.5

 
7.1

Subordinated units(2)
 
—

 
0.4

 
0.4

Stock-based compensation performance units(2)
 
—

 
0.4

 
0.3

(1)
See Note 12 for additional information regarding the potential conversion of our preferred units and Crestwood Niobrara’s preferred units to common units.
(2)
For a description of our subordinated and stock-based compensation performance units, see Note 12 and Note 13, respectively.

The table below shows CEQP’s net income (loss) per limited partner unit based on the number of basic and diluted limited partner units outstanding for the year ended December 31, 2019, 2018 and 2017 (in millions, except per unit data):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Common unitholders’ interest in net income (loss)
 
$
223.6

 
$
(9.3
)
 
$
(254.4
)
Net income attributable to subordinated units
 
1.4

 
—

 
—

Diluted net income (loss)
 
$
225.0

 
$
(9.3
)
 
$
(254.4
)
 
 
 
 
 
 
 
Weighted-average limited partners’ units outstanding - basic
 
71.8

 
71.2

 
69.8

Dilutive effect of Crestwood Niobrara preferred units
 
4.3

 
—

 
—

Dilutive effect of stock-based compensation performance units
 
0.4

 
—

 
—

Dilutive effect of subordinated units
 
0.4

 
—

 
—

Weighted-average limited partners’ units outstanding - diluted
 
76.9

 
71.2

 
69.8

 
 
 
 
 
 
 
Basic earnings per unit:
 
 
 
 
 
 
Net income (loss) per limited partner unit
 
$
3.11

 
$
(0.13
)
 
$
(3.64
)
Diluted earnings per unit:
 
 
 
 
 
 
Net income (loss) per limited partner unit
 
$
2.93

 
$
(0.13
)
 
$
(3.64
)