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Members' Equity/Partners' Capital (Tables)
6 Months Ended
Jun. 30, 2016
Members' Equity/Partners' Capital [Abstract]  
Class B Preferred Units Accounted for as Mezzanine Equity in the Consolidated Balance Sheet

The Class B Preferred Units are accounted for as mezzanine equity in the consolidated balance sheet consisting of the following (in thousands):

 

 

 

 

 

 

 

 

    

June 30, 

 

December 31, 

 

    

2016

    

2015

 

 

 

 

 

 

 

Mezzanine equity beginning balance

 

$

172,111

 

$

 —

Private placement of Class B Preferred Units

 

 

 —

 

 

350,000

Discount

 

 

(87)

 

 

(191,901)

Amortization of discount

 

 

12,908

 

 

6,594

Distributions

 

 

17,500

 

 

7,418

Distributions paid

 

 

(16,168)

 

 

 —

Total mezzanine equity

 

$

186,264

 

$

172,111

 

Schedule of Weighted Average Basic and Diluted Units Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

 

 

 

 

June 30, 

June 30, 

June 30, 

March 6 - June 30

 

January 1 - March 6

 

 

    

2016

2015

 

2016

2015

    

2015

    

Class A units - Basic and Diluted

 

 —

 

 —

 

 —

 

 —

 

48,451

 

Class B Common units - Basic and Diluted

 

 —

 

 —

 

 —

 

 —

 

2,879,163

 

Common units - Basic and Diluted

 

3,935,297

 

3,113,428

 

3,333,482

 

3,087,431

 

 —

 

Weighted Common units - Basic and Diluted

 

3,935,297

 

3,113,428

 

3,333,482

 

3,087,431

 

2,927,613

 

 

Income Per Unit Amounts

The following table presents our basic and diluted loss per unit for the six months ended June 30, 2016 (in thousands, except for per unit amounts):

 

 

 

 

 

 

 

 

 

    

Total

    

Common Units

    

 

 

 

 

 

 

 

 

Assumed net loss to be allocated

 

$

(27,947)

 

$

(27,947)

 

 

 

 

 

 

 

 

 

Basic and diluted loss per unit

 

 

 

 

$

(8.38)

 

 

The following table presents our basic and diluted loss per unit for the three months ended June 30, 2016 (in thousands, except for per unit amounts):

 

 

 

 

 

 

 

 

 

    

Total

    

Common Units

    

 

 

 

 

 

 

 

 

Assumed net loss to be allocated

 

$

(17,207)

 

$

(17,207)

 

 

 

 

 

 

 

 

 

Basic and diluted loss per unit

 

 

 

 

$

(4.37)

 

 

The following table presents our basic and diluted loss per unit for the period from January 1, 2015 to March 6, 2015 (the date of conversion to a limited partnership) (in thousands, except for per unit amounts):

 

 

 

 

 

 

 

 

 

 

 

 

    

Total

    

Class A Units

    

Class B Units

 

 

 

 

 

 

 

 

 

 

 

 

Assumed net loss to be allocated January 1 - March 6

 

$

(923)

 

$

(18)

 

$

(905)

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted loss per unit

 

 

 

 

$

(0.38)

 

$

(0.31)

 

 

The following table presents our basic and diluted loss per unit for the period from March 6, 2015 through June 30, 2015 (the period after conversion to a limited partnership) (in thousands, except for per unit amounts):

 

 

 

 

 

 

 

 

 

    

Total

    

Common Units

 

 

 

 

 

 

 

 

 

Assumed net loss attributable to common unitholders to be allocated March 6 - June 30

 

$

(99,928)

 

$

(99,928)

 

 

 

 

 

 

 

 

 

Basic and diluted loss per unit

 

 

 

 

$

(3.23)