Earnings per Common Unit or Common Share

6 Months Ended

Sep. 30, 2011

Earnings per Common Unit or Common Share

Earnings per Common Unit or Common Share

Note 4 – Earnings per Common Unit or Common Share

Our earnings per common and subordinated unit or per share of common stock for the periods indicated below were computed as follows:

	Three Months Ended September 30,						Six Months Ended September 30,
	2011			2010			2011			2010
	(dollars in thousands, except per unit or share amounts)
Earnings per Limited Partner Unit or Common Stock:
Net loss or net loss to the parent equity	$	(5,395	)	$	(1,101	)	$	(12,168	)	$	(2,515	)
Loss allocable to general partner	5						12
Preferred stock dividends	—			—			—			(17		)
Net loss allocable to limited partners or common shareholders	$	(5,390	)	$	(1,101	)	$	(12,156	)	$	(2,532	)
Weighted average common units or common shares outstanding - Basic and Diluted	8,864,222			19,711			9,370,997			19,711
Weighted average subordinated units outstanding - Basic and Diluted	5,919,346						4,431,423
Earnings per common unit or common share - Basic and Diluted	$	(0.36	)	$	(55.86	)	$	(0.88	)	$	(128.46	)
Earnings per subordinated unit - Basic and Diluted	$	(0.36	)				$	(0.88	)

In the computation of diluted earnings per common share of NGL Supply for the three and six months ended September 30, 2010, the impact of the outstanding stock options prior to exercise (approximately 237 shares) has not been included because the effect would be anti-dilutive.