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Net Income per Limited Partner Unit (Tables)
6 Months Ended
Jun. 30, 2014
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,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

($ in thousands, except per unit data)

 

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

$

67,454

  

 

$

69,213

  

 

$

128,532

  

 

$

128,751

  

Less general partner interest in net income

 

(23,526

 

 

(5,995

 

 

(43,142

 

 

(10,787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Limited partner interest in net income

$

43,928

  

 

$

63,218

  

 

$

85,390

  

 

$

117,964

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income allocable to common units(1)

$

33,915

  

 

$

19,116

  

 

$

61,257

  

 

$

32,563

  

Net income allocable to subordinated units

 

  

 

 

21,721

  

 

 

  

 

 

41,558

  

Net income allocable to Class B units(1)

 

10,013

  

 

 

10,755

  

 

 

19,663

  

 

 

20,985

  

Net income allocable to Class C units(1)

 

  

 

 

11,626

  

 

 

4,470

  

 

 

22,858

  

Limited partner interest in net income

$

43,928

  

 

$

63,218

  

 

$

85,390

  

 

$

117,964

  

Net income per limited partner unit – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

$

0.18

  

 

$

0.18

  

 

$

0.33

  

 

$

0.32

  

Subordinated units

$

  

 

0.31

  

 

  

 

0.60

  

Weighted average limited partner units outstanding - basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

190,953,800

  

 

 

108,673,392

  

 

 

187,609,231

  

 

 

103,575,719

  

Subordinated units

 

  

 

 

69,076,122

  

 

 

  

 

 

69,076,122

  

Total

 

190,953,800

  

 

 

177,749,514

  

 

 

187,609,231

  

 

 

172,651,841

  

(1)

Adjusted to reflect amortization for the beneficial conversion feature.