Equity (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of the calculation of the basic net (loss) income per common limited partner unit

The following table summarizes the calculation of the basic net (loss) income per common limited partner unit for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
	2020			2019
	(in thousands, except per unit data)
Net (loss) income attributable to common unitholders	$	(1,822	)	$	567
Weighted average common units outstanding		12,096			11,971
Basic net (loss) income per common limited partner unit	$	(0.15	)	$	0.05

Schedule of the calculation of the diluted net income (loss) per common limited partner unit

The following table summarizes the calculation of the diluted net income (loss) per common limited partner unit for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
	2020			2019
	(in thousands, except per unit data)
Net (loss) income attributable to common unitholders	$	(1,822	)	$	567
Net income attributable to preferred unitholder		—			1,033
Net (loss) income attributable to limited partners	$	(1,822	)	$	1,600
Weighted average common units outstanding	$	12,096		$	11,971
Effect of dilutive securities
Weighted average preferred units outstanding		—			5,769
Long-term incentive plan unvested units		—			384
Diluted weighted average common units outstanding		12,096			18,124
Diluted net (loss) income per common limited partner unit	$	(0.15	)	$	0.09

Schedule of cash distributions declared and paid to our common partners

The following table summarizes the cash distributions declared and paid to our common unitholders for 2019 and 2020:

					Total Cash
	Per Unit Cash		Total Cash		Distributions
Payment Date	Distributions		Distributions		to Affiliates (a)
			(in thousands)
February 14, 2019	$	0.21	$	2,510	$	1,606
May 15, 2019		0.21		2,531		1,622
August 14, 2019		0.21		2,534		1,624
November 14, 2019		0.21		2,534		1,627
Total 2019 Distributions	$	0.84	$	10,109	$	6,479
February 14, 2020	$	0.21	$	2,534	$	1,627
May 15, 2020 (b)		0.21		2,562		1,648
Total 2020 Distributions (to date)	$	0.42	$	5,096	$	3,275

(a) 64% of the Partnership’s outstanding common units at March 31, 2020 were held by affiliates.

(b) First quarter 2020 distribution was declared and will be paid in the second quarter of 2020.

Schedule of distributions paid to our preferred unitholder

The following table summarizes the distributions paid to our preferred unitholder for 2019 and 2020:

	Cash		Paid-in-Kind		Total
Payment Date	Distributions		Distributions		Distributions
			(in thousands)
February 14, 2019	$	1,033	$	—	$	1,033
May 15, 2019		1,033		—		1,033
August 14, 2019		1,033		—		1,033
November 14, 2019		1,034		—		1,034
Total 2019 Distributions	$	4,133	$	—	$	4,133
February 14, 2020	$	1,033	$	—	$	1,033
May 15, 2020 (a)		1,033		—		1,033
Total 2020 Distributions (to date)	$	2,066	$	—	$	2,066

(b) First quarter 2020 distribution was declared and will be paid in the second quarter of 2020.