Earnings Per Common Unit (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2015 and 2014 (in thousands, except per unit data):

	Three months ended June 30,					Six months ended June 30,
	2015			2014		2015			2014
Net (loss) income attributable to the Partnership’s unitholders	$	(101,486	)	$	8,977	$	(110,569	)	$	21,469
Less: Income allocable to phantom units	644			551		1,286			1,096
(Loss) income available for common unitholders - basic	(102,130		)	8,426		(111,855		)	20,373
Add: Income allocable to phantom units and DER expense (1)	—			574		—			1,141
(Loss) income available for common unitholders - diluted	$	(102,130	)	$	9,000	$	(111,855	)	$	21,514
Weighted average common units outstanding - basic	186,855			164,613		186,771			161,727
Potential common shares (Class B and phantom units) (1)	—			16,624		—			16,651
Weighted average common units outstanding - diluted	186,855			181,237		186,771			178,378
Net (loss) income attributable to the Partnership’s common unitholders per common unit (2)
Basic	$	(0.55	)	$	0.05	$	(0.60	)	$	0.13
Diluted	$	(0.55	)	$	0.05	$	(0.60	)	$	0.12

(1) For the three and six months ended June 30, 2015, approximately 12,717,000 and 12,726,000, respectively, 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.