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EARNINGS PER UNIT (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Schedule of earnings per limited partner unit

The following table details the components of EPU.

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

(In thousands, except per-unit amounts)

 

Numerator for basic and diluted EPU:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocation of net income (loss) among limited partner

    interests:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to limited partners

 

$

54,151

 

 

$

89,547

 

 

$

(2,948

)

 

$

95,576

 

Less net income attributable to Series A Preferred Units

 

 

7,125

 

 

 

 

 

 

21,375

 

 

 

 

Net income (loss) attributable to common limited partners

 

$

47,026

 

 

$

89,547

 

 

$

(24,323

)

 

$

95,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic and diluted EPU:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common units outstanding – basic

 

 

73,356

 

 

 

73,059

 

 

 

73,283

 

 

 

72,583

 

Effect of nonvested phantom units

 

 

400

 

 

 

374

 

 

 

 

 

 

318

 

Weighted-average common units outstanding – diluted

 

 

73,756

 

 

 

73,433

 

 

 

73,283

 

 

 

72,901

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per limited partner unit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common unit – basic

 

$

0.64

 

 

$

1.23

 

 

$

(0.33

)

 

$

1.32

 

Common unit – diluted

 

$

0.64

 

 

$

1.22

 

 

$

(0.33

)

 

$

1.31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonvested anti-dilutive phantom units excluded from the

    calculation of diluted EPU

 

 

1

 

 

 

 

 

 

2

 

 

 

55