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Net Income per Limited Partner Unit (Tables)
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
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
September 30,

 

 

Nine Months Ended
September 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

($ in thousands, except per unit data)

 

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

$

41,218

  

 

$

78,217

  

 

$

169,750

  

 

$

206,968

  

Less general partner interest in net income

 

(26,666

 

 

(12,591

 

 

(69,808

 

 

(23,378

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Limited partner interest in net income

$

14,552

  

 

$

65,626

  

 

$

99,942

  

 

$

183,590

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income allocable to common units(1)

$

5,926

  

 

$

31,735

  

 

$

67,183

  

 

$

64,298

  

Net income allocable to subordinated units

 

  

 

 

11,006

  

 

 

  

 

 

52,564

  

Net income allocable to Class B units(1)

 

8,626

  

 

 

11,044

  

 

 

28,289

  

 

 

32,029

  

Net income allocable to Class C units(1)

 

  

 

 

11,841

  

 

 

4,470

  

 

 

34,699

  

Limited partner interest in net income

$

14,552

  

 

$

65,626

  

 

$

99,942

  

 

$

183,590

  

Net income per limited partner unit – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

$

0.03

  

 

$

0.22

  

 

$

0.36

  

 

$

0.54

  

Subordinated units

$

  

 

0.33

  

 

  

 

0.93

  

Weighted average limited partner units outstanding - basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common units

 

191,496,964

  

 

 

144,247,636

  

 

 

188,919,383

  

 

 

117,282,006

  

Subordinated units

 

  

 

 

33,787,234

  

 

 

  

 

 

57,183,896

  

Total

 

191,496,964

  

 

 

178,034,870

  

 

 

188,919,383

  

 

 

174,465,902

  

(1)

Adjusted to reflect amortization for the beneficial conversion feature.