XML 50 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings Per Unit (Tables)
12 Months Ended
Dec. 31, 2015
Earnings Per Unit [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The calculation of net income (loss) per unit for the years ended December 31, 2015 and 2014, and the period subsequent to the Offering in 2013 is as follows:
 
Period Ended December 31,
 
2015
 
2014
 
2013
 
(In thousands, except per unit data)
Net income (loss)
$
63,625

 
$
67,596

 
$
(42,727
)
Net income (loss) attributable to General Partner (1)
1,052

 
14,604

 
(51,255
)
Net income attributable to limited partners
62,573

 
52,992

 
8,528

Distributions on TexNew Mex Units (2)
(310
)
 

 

General Partner distributions
(1,085
)
 

 

Limited partners' distributions on common units
(34,436
)
 
(26,902
)
 

Limited partners' distributions on subordinated units
(32,563
)
 
(26,534
)
 

 Distributions less than (greater than) earnings
$
(5,821
)
 
$
(444
)
 
$
8,528

 
 
 
 
 
 
General Partners' earnings:
 
 
 
 
 
Distributions
$
1,085

 
$

 
$

Net income (loss) attributable to General Partner (1)
1,052

 
14,604

 
(51,255
)
Total General Partners' earnings
$
2,137

 
$
14,604

 
$
(51,255
)
 
 
 
 
 
 
 Limited partners' earnings on common units:
 
 
 
 
 
 Distributions
$
34,436

 
$
26,902

 
$

 Allocation of distributions less than (greater than) earnings
(2,990
)
 
(223
)
 
4,264

 Total limited partners' earnings on common units
$
31,446

 
$
26,679

 
$
4,264

 
 
 
 
 
 
 Limited partners' earnings on subordinated units:
 
 
 
 
 
 Distributions
$
32,563

 
$
26,534

 
$

 Allocation of distributions less than (greater than) earnings
(2,831
)
 
(221
)
 
4,264

 Total limited partners' earnings on subordinated units
$
29,732

 
$
26,313

 
$
4,264

 
 
 
 
 
 
 Weighted average limited partner units outstanding:
 
 
 
 
 
 Common units - basic
24,084

 
23,059

 
22,811

 Common units - diluted
24,099

 
23,107

 
22,813

 Subordinated units - basic and diluted
22,811

 
22,811

 
22,811

 
 
 
 
 
 
 Net income per limited partner unit:
 
 
 
 
 
 Common - basic
$
1.31

 
$
1.16

 
$
0.19

 Common - diluted
1.30

 
1.15

 
0.19

 Subordinated - basic and diluted
1.30

 
1.15

 
0.19

(1)
We apply the two-class method to calculate earnings per unit and allocate the results of operations of WRW prior to the Wholesale Acquisition and the TexNew Mex Pipeline System prior to the TexNew Mex Pipeline Acquisition entirely to our general partner. The limited partners had no rights to the results of operations before these acquisitions.
(2)
The TexNew Mex Units entitle Western to participate in 80% of the operating results attributable to the TexNew Mex Shared Segment resulting from crude oil throughput on the TexNew Mex pipeline above 13,000 barrels per day. See Note 4, Acquisitions, for further information.