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Income (Loss) Per Limited Partner Unit
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
Income (Loss) Per Limited Partner Unit
Income (Loss) per Limited Partner Unit
The following tables provide a reconciliation of the numerator and denominator of the basic and diluted earnings per unit computations for the three and nine months ended September 30, 2011. For the Predecessor period from January 1, 2010 to May 25, 2010 and the Successor period from May 26, 2010 to September 30, 2010, diluted earnings per unit equaled basic earnings per unit because all instruments were antidilutive.
 
Three Months Ended September 30, 2011
 
Three Months Ended September 30, 2010
 
Income
(Numerator)
 
Units
(Denominator)
 
Per-Unit
Amount
 
Income
(Numerator)
 
Units
(Denominator)
 
Per-Unit
Amount
Basic income from continuing operations per unit
 
 
 
 
 
 
 
 
 
 
 
Limited Partners’ interest
$
26,243

 
145,842,735

 
$
0.18

 
$
4,314

 
128,387,929

 
$
0.03

Effect of Dilutive Securities:
 
 
 
 
 
 
 
 
 
 
 
Common unit options

 
13,633

 
 
 

 
34,671

 
 
Phantom units *

 
281,320

 
 
 

 
204,960

 
 
Series A Preferred Units
(13,233
)
 
4,626,197

 
 
 

 

 
 
Diluted income from continuing operations per unit
$
13,010

 
150,763,885

 
$
0.09

 
$
4,314

 
128,627,560

 
$
0.03

 
Nine Months Ended September 30, 2011
 
Income
(Numerator)
 
Units
(Denominator)
 
Per-Unit
Amount
Basic income from continuing operations per unit
 
 
 
 
 
Limited Partners’ interest
$
48,031

 
142,058,631

 
$
0.34

Effect of Dilutive Securities:
 
 
 
 
 
Common unit options

 
23,450

 
 
Phantom units *

 
237,192

 
 
Series A Preferred Units
(14,770
)
 
4,626,197

 
 
Diluted income from continuing operations per unit
$
33,261

 
146,945,470

 
$
0.23

__________________
*
Amount assumes maximum conversion rate for market condition awards.
The following data show securities that could potentially dilute earnings per unit in the future that were not included in the computation of diluted earnings per unit because to do so would have been antidilutive for the periods presented:
 
Three Months Ended
 
September 30, 2011
 
 
September 30, 2010
Common unit options

 
 

Phantom units *

 
 

Series A Preferred Units

 
 
4,584,192

 
Successor
 
 
Predecessor
 
Nine Months Ended
September 30, 2011
 
Period  from
Acquisition
(May 26, 2010) to
September 30, 2010
 
 
Period from
January 1, 2010 to
May 25, 2010
Restricted (non-vested) common units

 

 
 
396,918

Common unit options

 
288,500

 
 
298,400

Phantom units *

 
322,602

 
 
369,346

Series A Preferred Units

 
4,584,192

 
 
4,584,192

__________________
*
Amount assumes maximum conversion rate for market condition awards.