Earnings Per Limited Partner Unit (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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	)