Net Income per Unit

9 Months Ended

Sep. 30, 2020

Net Income Per Unit [Abstract]

Net Income per Unit

Net Income per Common Unit

A reconciliation of the numerators and denominators of the basic and diluted net income per common unit computations is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions, except units and per unit amounts)
Net income and comprehensive income	$	100	$	66	$	129	$	230
Less:
Incentive distribution rights	18		18		53		53
Distributions on nonvested phantom unit awards	1		1		5		5
Limited partners’ interest in net income	$	81	$	47	$	71	$	172
Weighted average common units outstanding:
Common - basic	83,056,365		82,749,644		83,033,556		82,734,526
Common - equivalents	713,669		900,254		635,279		777,595
Common - diluted	83,770,034		83,649,898		83,668,835		83,512,121
Net income per common unit:
Common - basic	$	0.97	$	0.57	$	0.85	$	2.09
Common - diluted	$	0.96	$	0.57	$	0.84	$	2.07