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Net Income Per Limited Partner Unit (Tables)
12 Months Ended
Dec. 31, 2015
Partners Capital Notes [Abstract]  
Schedule of Allocation of Net Income to Arrive at Net Income Per Limited Partner Unit

The following tables show the allocation of net income to arrive at net income per limited partner unit:

 

 

 

2015

 

 

2014

 

Net income

 

$

272.9

 

 

$

148.9

 

Less:

 

 

 

 

 

 

 

 

Net income attributable to the Predecessors

 

 

39.3

 

 

 

124.1

 

Net income attributable to noncontrolling interests

 

 

66.5

 

 

 

11.4

 

Net income attributable to the Partnership

 

 

167.1

 

 

 

13.4

 

Less:

 

 

 

 

 

 

 

 

General partner's distribution declared

 

 

4.0

 

 

 

0.3

 

Limited partners' distribution declared on common units

 

 

60.1

 

 

 

7.0

 

Limited partner's distribution declared on subordinated units

 

 

53.3

 

 

 

7.1

 

Income in excess of distributions (distributions in excess of income)

 

$

49.7

 

 

$

(1.0

)

 

Schedule of Basic and Diluted Net Income Per Unit

 

 

2015

 

 

 

General Partner

 

 

Limited Partners' Common Units

 

 

Limited Partner's Subordinated Units

 

 

Total

 

 

 

(in millions of dollars, except per unit data)

 

Distributions declared

 

$

4.0

 

 

$

60.1

 

 

$

53.3

 

 

$

117.4

 

Income in excess of distributions

 

 

1.0

 

 

 

25.4

 

 

 

23.3

 

 

 

49.7

 

Net income attributable to the Partnership

 

$

5.0

 

 

$

85.5

 

 

$

76.6

 

 

$

167.1

 

Weighted average units outstanding (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

2.9

 

 

 

73.4

 

 

 

67.5

 

 

 

143.8

 

Diluted

 

 

2.9

 

 

 

73.4

 

 

 

67.5

 

 

 

143.8

 

Net income per limited partner unit (in dollars):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

$

1.16

 

 

$

1.14

 

 

 

 

 

Diluted

 

 

 

 

 

$

1.16

 

 

$

1.14

 

 

 

 

 

 

 

 

2014

 

 

 

General Partner

 

 

Limited Partners' Common Units

 

 

Limited Partner's Subordinated Units

 

 

Total

 

 

 

(in millions of dollars, except per unit data)

 

Distributions declared

 

$

0.3

 

 

$

7.0

 

 

$

7.1

 

 

$

14.4

 

Distributions in excess of net income subsequent to the IPO

 

 

 

 

 

(0.5

)

 

 

(0.5

)

 

 

(1.0

)

Net income attributable to the Partnership

 

$

0.3

 

 

$

6.5

 

 

$

6.6

 

 

$

13.4

 

Weighted average units outstanding (in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

2.7

 

 

 

67.5

 

 

 

67.5

 

 

 

137.7

 

Diluted

 

 

2.7

 

 

 

67.5

 

 

 

67.5

 

 

 

137.7

 

Net income per limited partner unit (in dollars):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

$

0.10

 

 

$

0.10

 

 

 

 

 

Diluted

 

 

 

 

 

$

0.10

 

 

$

0.10