Earnings Per Common Unit (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Common Unit

Schedule of computation of basic and diluted net income per common unit

     The following table shows the computation of basic and diluted net income per common unit, and the weighted-average units used to compute basic and diluted net income per common unit for the three months ended March 31, 2015 and 2014 (in thousands, except per unit data):

	Three months ended March 31,
	2015			2014
Net (loss) income attributable to the Partnership’s unitholders	$	(9,083	)	$	12,492
Less: Income allocable to phantom units	642			545
(Loss) income available for common unitholders - basic	(9,725		)	11,947
Add: Income allocable to phantom units and DER expense (1)	—			568
(Loss) income available for common unitholders - diluted	$	(9,725	)	$	12,515
Weighted average common units outstanding - basic	186,685			158,808
Potential common shares (Class B and phantom units) (1)	—			16,680
Weighted average common units outstanding - diluted	186,685			175,488
Net (loss) income attributable to the Partnership’s common unitholders per common unit (2)
Basic	$	(0.05	)	$	0.08
Diluted	$	(0.05	)	$	0.07

(1) For the three months ended March 31, 2015, approximately $674,000 of income allocable to phantom units and DER expense and 12,735,000 potential common shares were excluded from the calculation because the impact was anti-dilutive.

(2) 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.