Note 9 - Net Income Per Limited Partner Unit

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

9 . NET INCOME PER LIMITED PARTNER UNIT

For purposes of calculating earnings per unit, the excess of distributions over earnings or excess of earnings over distributions for each period are allocated to the Partnership’s general partner based on the general partner’s ownership interest at the time. The following sets forth the computation of basic and diluted net income per common unit (in thousands, except per unit data): 

	Year ended December 31,
	2018			2019
Net income (loss)	$	(42,047	)	$	18,412
General partner interest in net income (loss)		(512	)		337
Preferred interest in net income		25,115			25,115
Net loss available to limited partners	$	(66,650	)	$	(7,040	)
Basic and diluted weighted average number of units:
Common units		40,348			40,755
Restricted and phantom units		1,011			1,023
Total units		41,359			41,778
Basic and diluted net loss per common unit	$	(1.61	)	$	(0.17	)