Earnings Per Limited Partner Unit (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule Of Earnings Per Unit For Common Units

The following table illustrates the Partnership’s calculation of earnings per unit for common units. The dilutive effect of the unit-based awards discussed in Note 15 was less than $0.01 per unit during the three months ended March 31, 2020 and 2019.

	Three Months Ended March 31,
	2020			2019
	(In millions, except per unit data)
Net income	$	105		$	123
Net (loss) income attributable to noncontrolling interest	(7		)	1
Series A Preferred Unit distributions	9			9
General partner interest in net income	—			—
Net income available to common unitholders	$	103		$	113
Net income allocable to common units	$	103		$	113
Dilutive effect of Series A Preferred Unit distributions	9			—
Diluted net income allocable to common units	$	112		$	113
Basic earnings per unit
Common units	$	0.24		$	0.26
Basic weighted average number of common units outstanding (1)	437			435
Dilutive effect of Series A Preferred Units	144			—
Diluted weighted average number of common units outstanding	581			435
Diluted earnings per unit
Common units	$	0.19		$	0.26

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(1)

Basic weighted average number of outstanding common units includes approximately two million and one million time-based phantom units for the three months ended March 31, 2020 and 2019, respectively.