Net Income Per Limited Partner Unit (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Allocation of Net Income to Arrive at Net Income Per Limited Partner Unit

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



	Three Months Ended September 30,					Nine Months Ended September 30,
	2017			2016		2017			2016
Net income	$	74.5		$	61.8	$	218.2		$	204.5
Less:
Net income attributable to Parent	—			3.0		3.0			11.4
Net income attributable to noncontrolling interests	1.9			2.5		6.3			17.7
Net income attributable to the Partnership	72.6			56.3		208.9			175.4
Less:
General Partner's distribution declared	17.7			7.1		44.0			14.7
Limited Partners' distribution declared on common units	59.7			29.0		165.2			79.4
Limited Partners' distribution declared on subordinated units	—			17.8		—			50.5
Income (less than) / in excess of distributions	$	(4.8	)	$	2.4	$	(0.3	)	$	30.8

Schedule of Basic and Diluted Net Income Per Unit



	Three Months Ended September 30, 2017
	General Partner			Limited Partners' Common Units			Total
	(in millions of dollars, except per unit data)
Distributions declared	$	17.7		$	59.7		$	77.4
Distributions in excess of income	(0.1		)	(4.7		)	(4.8		)
Net income attributable to the Partnership	$	17.6		$	55.0		$	72.6
Weighted average units outstanding (in millions) ⁽¹⁾:
Basic and diluted				179.2
Net income per Limited Partner Unit (in dollars):
Basic and diluted				$	0.31



	Nine Months Ended September 30, 2017
	General Partner		Limited Partners' Common Units			Total
	(in millions of dollars, except per unit data)
Distributions declared	$	44.0	$	165.2		$	209.2
Distributions in excess of income	—		(0.3		)	(0.3		)
Net income attributable to the Partnership	$	44.0	$	164.9		$	208.9
Weighted average units outstanding (in millions) ⁽¹⁾:
Basic and diluted			178.0
Net income per Limited Partner Unit (in dollars):
Basic and diluted			$	0.93

⁽¹⁾ The subordinated units converted into common units on February 15, 2017 and were considered outstanding common units for the entire period with respect to the weighted average number of units outstanding.



	Three Months Ended September 30, 2016
	General Partner		Limited Partners' Common Units		Limited Partners' Subordinated Units		Total
	(in millions of dollars, except per unit data)
Distributions declared	$	7.1	$	29.0	$	17.8	$	53.9
Income in excess of distributions	0.1		1.4		0.9		2.4
Net income attributable to the Partnership	$	7.2	$	30.4	$	18.7	$	56.3
Weighted average units outstanding (in millions):
Basic and diluted			109.8		67.5
Net income per Limited Partner Unit (in dollars):
Basic and diluted			$	0.28	$	0.28



	Nine Months Ended September 30, 2016
	General Partner		Limited Partners' Common Units		Limited Partners' Subordinated Units		Total
	(in millions of dollars, except per unit data)
Distributions declared	$	14.7	$	79.4	$	50.5	$	144.6
Income in excess of distributions	0.6		18.0		12.2		30.8
Net income attributable to the Partnership	$	15.3	$	97.4	$	62.7	$	175.4
Weighted average units outstanding (in millions):
Basic and diluted			99.2		67.5
Net income per Limited Partner Unit (in dollars):
Basic and diluted			$	0.98	$	0.93