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Net Income per Limited Partner Unit (Tables)
6 Months Ended
Jun. 30, 2013
Partnership's Calculation of Net Income Per Unit for Common and Subordinated Limited Partner Units

The following table illustrates the Partnership’s calculation of net income per unit for common and subordinated limited partner units (in thousands, except per-unit information):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

 

($ in thousands, except per unit data)

 

Net income attributable to Access Midstream Partners, L.P.

$

  69,213

  

 

$

  51,606

  

 

$

  128,751

  

 

$

  103,972

  

Less general partner interest in net income

 

(5,995

) 

 

 

(1,752

) 

 

 

(10,787

) 

 

 

(3,181

) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Limited partner interest in net income

$

  63,218

  

 

$

  49,854

  

 

$

  117,964

  

 

$

  100,791

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income allocable to common units(1)

$

  19,116

  

 

$

  26,641

  

 

$

  32,563

  

 

$

  53,860

  

Net income allocable to subordinated units

 

  21,721

  

 

 

  23,213

  

 

 

  41,558

  

 

 

  46,931

  

Net income allocable to Class B units(1)

 

  10,755

  

 

 

  

 

 

  20,985

  

 

 

  

Net income allocable to Class C units(1)

 

  11,626

  

 

 

  

 

 

  22,858

  

 

 

  

Limited partner interest in net income

$

  63,218

  

 

$

  49,854

  

 

$

  117,964

  

 

$

  100,791

  

Net income per limited partner unit – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

$

  0.18

  

 

$

  0.34

  

 

$

  0.32

  

 

$

  0.68

  

Subordinated units

$

  0.31

  

 

$

  0.34

  

 

$

  0.60

  

 

$

  0.68

  

Weighted average limited partner units outstanding - basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

  108,673,392

  

 

 

  79,277,661

  

 

 

  103,575,719

  

 

 

  79,277,046

  

Subordinated units

 

  69,076,122

  

 

 

  69,076,122

  

 

 

  69,076,122

  

 

 

  69,076,122

  

Total

 

  177,749,514

  

 

 

  148,353,783

  

 

 

  172,651,841

  

 

 

  148,353,168

  

(1)              Adjusted to reflect amortization for the beneficial conversion feature.