XML 41 R18.htm IDEA: XBRL DOCUMENT v2.3.0.15
Earnings Per Unit
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
Earnings Per Unit
Note 11 - Earnings Per Unit
 
Basic earnings per unit is computed by dividing net earnings attributable to unitholders by the weighted average number of units outstanding during each period.  Diluted earnings per unit is computed by adjusting the average number of units outstanding for the dilutive effect, if any, of unit equivalents.  The Company uses the treasury stock method to determine the dilutive effect.
 
The following table provides a reconciliation of the numerators and denominators of the basic and diluted per unit computations for net income:
 
   
Net Income
(Numerator)
 
Units
(Denominator)
 
Per Unit
Amount
   (in thousands)   
Three months ended September 30, 2011:
         
Net income:
         
Allocated to units
 $837,627       
Allocated to unvested restricted units
  (8,774)      
   $828,853       
Net income per unit:
          
Basic net income per unit
      174,956  $4.74 
Dilutive effect of unit equivalents
      688   (0.02)
Diluted net income per unit
      175,644  $4.72 
              
Three months ended September 30, 2010:
            
Net income:
            
Allocated to units
 $4,143         
Allocated to unvested restricted units
  (46)        
   $4,097         
Net income per unit:
            
Basic net income per unit
      145,956  $0.03 
Dilutive effect of unit equivalents
      502   - 
Diluted net income per unit
      146,458  $0.03 
              
Nine months ended September 30, 2011:
            
Net income:
            
Allocated to units
 $628,054         
Allocated to unvested restricted units
  (6,662)        
   $621,392         
Net income per unit:
            
Basic net income per unit
      171,076  $3.63 
Dilutive effect of unit equivalents
      749   (0.01)
Diluted net income per unit
      171,825  $3.62 
              
Nine months ended September 30, 2010:
            
Net income:
            
Allocated to units
 $129,239         
Allocated to unvested restricted units
  (1,361)        
   $127,878         
Net income per unit:
            
Basic net income per unit
      140,598  $0.91 
Dilutive effect of unit equivalents
      408   - 
Diluted net income per unit
      141,006  $0.91 
 
There were no anti-dilutive unit equivalents for the three months or nine months ended September 30, 2011.  Basic units outstanding excludes the effect of weighted average anti-dilutive unit equivalents related to approximately 300,000 and 600,000 unit options and warrants for the three months and nine months ended September 30, 2010, respectively.