Net Income Per Limited Partner Unit (Tables)

6 Months Ended

Jun. 30, 2016

Net Income Per Limited Partner Unit

Schedule of net income per common and subordinated unit

The Partnership’s calculation of net income per common and subordinated unit for the periods indicated is as follows (in thousands, except per unit data):

	Three months ended June 30,				Six months ended June 30,
	2015		2016		2015		2016
Net income	$	35,124	$	49,912	$	67,451	$	92,829
Less:
Pre-Water Acquisition net income attributed to parent		(15,674)		—		(32,353)		—
General partner interest in net income attributable to incentive distribution rights		—		(2,731)		—		(4,581)
Limited partner interest in net income	$	19,450	$	47,181	$	35,098	$	88,248
Net income allocable to common units - basic and diluted	$	9,725	$	26,843	$	17,549	$	50,206
Net income allocable to subordinated units - basic and diluted		9,725		20,338		17,549		38,042
Limited partner interest in net income - basic and diluted	$	19,450	$	47,181	$	35,098	$	88,248
Net income per limited partner unit - basic
Common units	$	0.13	$	0.27	$	0.23	$	0.50
Subordinated units	$	0.13	$	0.27	$	0.23	$	0.50
Net income per limited partner unit - diluted
Common units	$	0.13	$	0.27	$	0.23	$	0.50
Subordinated units	$	0.13	$	0.27	$	0.23	$	0.50
Weighted average limited partner units  outstanding - basic
Common units		75,941		100,231		75,941		100,226
Subordinated units		75,941		75,941		75,941		75,941
Weighted average limited partner units  outstanding - diluted
Common units		75,958		100,285		75,956		100,262
Subordinated units		75,941		75,941		75,941		75,941