Net Income Per Unit (Notes)

12 Months Ended

Dec. 31, 2013

Net Income Per Unit [Abstract]

Earnings Per Share [Text Block]

4. Earnings Per Unit

Net income per unit is calculated for the Partnership only for periods after the Offering as no units were outstanding prior to October 16, 2013. Earnings in excess of distributions are allocated to the limited partners based on their respective ownership interests. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income (loss) allocations used in the calculation of net income (loss) per unit.

Diluted net income per unit includes the effects of potentially dilutive units of our common units that consist of unvested phantom units. Basic and diluted net income (loss) per unit applicable to subordinated limited partners are the same because there are no potentially dilutive subordinated units outstanding.

In addition to the common and subordinated units, we have also identified the general partner interest and incentive distribution rights as participating securities and use the two-class method when calculating the net income per unit applicable to limited partners that is based on the weighted-average number of common units outstanding during the period. There have been no additional changes to the outstanding shares after the closing of the Offering. As of December 31, 2013 there were no incentive distribution right amounts available for distribution to our general partner. Therefore, net income available to the limited partner units has not been reduced.

The calculation of net income per unit is as follows (in thousands, except per unit amounts):

Limited partners' interest in net income subsequent to initial public offering	$	8,528
Net income per limited partner unit:
Common - basic	$	0.19
Common - diluted	0.19
Subordinated - basic and diluted	0.19
Weighted average limited partner units outstanding:
Common - basic	22,811
Common - diluted	22,813
Subordinated - basic and diluted	22,811