Net Income per Limited Partner Unit

9 Months Ended

Sep. 30, 2020

Net Income per Limited Partner Unit [Abstract]

Net Income Per Limited Partner Unit

Net Income Per Limited Partner Unit

Basic net income per unit applicable to the limited partners is calculated as net income attributable to the partners divided by the weighted average limited partners’ units outstanding. Diluted net income per unit assumes, when dilutive, the issuance of the net incremental units from restricted units, phantom units and performance units. To the extent net income attributable to the partners exceeds or is less than cash distributions, this difference is allocated to the partners based on their weighted-average ownership percentage during the period, after consideration of any priority allocations of earnings. Our dilutive securities are immaterial for all periods presented.

Net income per limited partner unit is computed as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands, except per unit data)
Net income attributable to the partners	$	17,813	$	82,345	$	119,144	$	179,217
Weighted average limited partners' units outstanding	105,440		105,440		105,440		105,440
Limited partners' per unit interest in earnings - basic and diluted	$	0.17	$	0.78	$	1.13	$	1.70