Note 6 - Net Income Per Limited Partner Unit

3 Months Ended

Mar. 31, 2020

6.	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):

	Three Months Ended March 31,
	2019			2020
Net income	$	3,757		$	-
General partner interest in net income(loss)		105			-
Preferred interest in net income		6,279			6,279
Net loss available to limited partners	$	(2,627	)	$	(6,279	)

Basic and diluted weighted average number of units:
Common units		40,678			41,015
Restricted and phantom units		769			983
Total units		41,447			41,998

Basic and diluted net loss per common unit	$	(0.06	)	$	(0.15	)