EARNINGS PER UNIT

3 Months Ended

Mar. 31, 2020

The net (loss) income per common unit on the consolidated statements of operations is based on the net (loss) income of the Partnership for the three months ended March 31, 2020 and 2019, since this is the amount of net (loss) income that is attributable to the Partnership’s common units.

The Partnership’s net (loss) income is allocated wholly to the common units. Payments made to the Partnership’s unitholders are determined in relation to the cash distribution policy described in Note 9—Unitholders' Equity and Partnership Distributions.

Basic net (loss) income per common unit is calculated by dividing net (loss) income by the weighted-average number of common units outstanding during the period. Diluted net (loss) income per common unit gives effect, when applicable, to unvested common units granted under the LTIP.



	Three Months Ended March 31,
	2020			2019
	(In thousands, except per unit amounts)
Net (loss) income attributable to the period	$	(142,169	)	$	33,779
Less: net income allocated to participating securities⁽¹⁾	(20		)	(42		)
Net (loss) income attributable to common unitholders	$	(142,189	)	$	33,737
Weighted average common units outstanding:
Basic weighted average common units outstanding	67,822			55,448
Effect of dilutive securities:
Potential common units issuable	1			27
Diluted weighted average common units outstanding	67,823			55,475
Net (loss) income per common unit, basic	$	(2.10	)	$	0.61
Net (loss) income per common unit, diluted	$	(2.10	)	$	0.61


(1)	Distribution equivalent rights granted to employees are considered participating securities.

For the three months ended March 31, 2020 , there were 18,169 common units that were not included in the computation of diluted earnings per common unit and for the three months ended March 31, 2019, there were no common units that were not included in the computation of diluted earnings per common unit because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per common unit in future periods.