Earnings Per Limited Partner Unit (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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, 2021, 2020 and 2019 (in millions):

	Year Ended December 31,
	2021	2020	2019
Preferred units(1)	7.1	7.1	7.1
Crestwood Niobrara’s preferred units(1)	4.2	5.7	—
Unit-based compensation performance units(2)	0.2	0.1	—
Subordinated units(3)	0.1	0.4	—

(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 unit-based compensation performance units, see Note 13.

(3)In conjunction with the Crestwood Holdings Transactions, in March 2021, CEQP retired the subordinated units. For additional information regarding the retirement of the subordinated units, see Note 12.

The following table shows net income (loss) and weighted-average limited partner units used in computing basic and diluted net income (loss) per limited partner unit for the years ended December 31, 2021, 2020 and 2019 (in millions, except per unit data):

	Year Ended December 31,
	2021		2020		2019
Common unitholders’ interest in net income (loss)	$	(138.6)	$	(116.2)	$	223.6
Dilutive effect of net income attributable to subordinated units	—		—		1.4
Diluted net income (loss)	$	(138.6)	$	(116.2)	$	225.0
Weighted-average limited partners’ units outstanding - basic	65.6		73.2		71.8
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	65.6		73.2		76.9
Net income (loss) per limited partner unit:
Basic	$	(2.11)	$	(1.59)	$	3.11
Diluted	$	(2.11)	$	(1.59)	$	2.93