Loss Per Common Unit

12 Months Ended

Mar. 31, 2022

The following table presents our calculation of basic and diluted weighted average common units outstanding for the periods indicated:


	Year Ended March 31,
	2022	2021	2020
Weighted average common units outstanding during the period:
Common units - Basic	129,840,234	128,980,823	127,411,908



Common units - Diluted	129,840,234	128,980,823	127,411,908

For the years ended March 31, 2022, 2021 and 2020, all potential common units or convertible securities were considered antidilutive.

Our loss per common unit is as follows for the periods indicated:


	Year Ended March 31,
	2022		2021		2020
	(in thousands, except unit and per unit amounts)
Loss from continuing operations	$	(184,101)	$	(637,418)	$	(180,545)
Less: Continuing operations (income) loss attributable to noncontrolling interests	(655)		(632)		1,773
Net loss from continuing operations attributable to NGL Energy Partners LP	(184,756)		(638,050)		(178,772)
Less: Distributions to preferred unitholders (1)(2)	(104,163)		(93,364)		(188,734)
Less: Continuing operations net loss allocated to general partner (3)	289		731		260
Net loss from continuing operations allocated to common unitholders	$	(288,630)	$	(730,683)	$	(367,246)

Loss from discontinued operations, net of tax	$	—	$	(1,769)	$	(218,235)
Less: Discontinued operations net loss allocated to general partner (3)	—		2		218
Net loss from discontinued operations allocated to common unitholders	$	—	$	(1,767)	$	(218,017)

Net loss allocated to common unitholders	$	(288,630)	$	(732,450)	$	(585,263)



Basic loss per common unit
Loss from continuing operations	$	(2.22)	$	(5.67)	$	(2.88)
Loss from discontinued operations, net of tax	$	—	$	(0.01)	$	(1.71)
Net loss	$	(2.22)	$	(5.68)	$	(4.59)
Diluted loss per common unit
Loss from continuing operations	$	(2.22)	$	(5.67)	$	(2.88)
Loss from discontinued operations, net of tax	$	—	$	(0.01)	$	(1.71)
Net loss	$	(2.22)	$	(5.68)	$	(4.59)
Basic weighted average common units outstanding	129,840,234		128,980,823		127,411,908
Diluted weighted average common units outstanding	129,840,234		128,980,823		127,411,908

(1) This amount includes distributions to preferred unitholders. The final accretion for the beneficial conversion of the 10.75% Class A Preferred Units (as defined herein) and the excess of the 10.75% Class A Preferred Units repurchase price over the carrying value of the units, as discussed further in Note 9, are included in the year ended March 31, 2020.

(2) Includes cumulative distributions for the year ended March 31, 2022 and for the quarter ended March 31, 2021 which were earned but not declared or paid (see Note 9 for a further discussion of the suspension of common unit and preferred unit distributions).

(3) Net loss allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights.