Earnings Per Common Unit

12 Months Ended

Dec. 31, 2013

Earnings Per Common Unit

Earnings Per Common Unit

23. Earnings Per Common Unit

        The following table shows the computation of basic and diluted net income per common unit, for the years ended December 31, 2013, 2012 and 2011, respectively, and the weighted average units used to compute diluted net income per common unit (in thousands, except per unit data):

	Year ended December 31,
	2013			2012			2011
Net income attributable to the Partnership's unitholders	$	38,077		$	220,402		$	60,695
Less: Income allocable to phantom units		(2,342	)		(2,142	)		(1,749	)
Income available for common unitholders—basic		35,735			218,260			58,946
Add: Income allocable to phantom units and DER expense(1)		2,419			2,183			—
Income available for common unitholders—diluted	$	38,154		$	220,443		$	58,946
Weighted average common units outstanding—basic		138,409			109,979			78,466
Potential common units (Class B and phantom units)(1)		22,034			20,669			153
Weighted average common units outstanding—diluted		160,443			130,648			78,619
Net income attributable to the Partnership's common unitholders per common unit(2)(3)
Basic	$	0.26		$	1.98		$	0.75
Diluted	$	0.24		$	1.69		$	0.75

(1)

In 2013 and 2012, the use of the if converted method is more dilutive, therefore, income allocable to phantom units and DER expense included in the calculation of diluted earnings per unit and the phantom units are included in the potential common units.

(2)

For the year ended December 31, 2011, dilutive instruments include TSR Performance Units and are based on the number of units, if any, which would be issuable at the end of the respective reporting period, assuming that date was the end of the contingency period. See Note 20 for further discussion of TSR Performance Units.

(3)

Earnings per Class B units equals zero as Class B unitholders are not entitled to receive distributions and, therefore, no income is allocable to Class B units under the two class method.