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Net Income Per Limited Partner Unit (Tables)

12 Months Ended

Dec. 31, 2019

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:


	2019		2018		2017
Net income	$	546	$	482	$	392
Less:
Net income attributable to the Parent	—		—		77
Net income attributable to noncontrolling interests	18		18		20
Net income attributable to the Partnership	528		464		295
Less:
General partner’s distribution declared ⁽¹⁾	148		135		64
Limited partners’ distribution declared on common units	404		334		228
Income (less than)/in excess of distributions	$	(24)	$	(5)	$	3

⁽¹⁾ For 2019, this includes the impact of waived distributions to the holders of IDRs. See Note 4 — Related Party Transactions for additional information.

Schedule of Basic and Diluted Net Income Per Unit


	2019
	General Partner		Limited Partners’ Common Units		Total

	(in millions of dollars, except per unit data)
Distributions declared ⁽¹⁾	$	148	$	404	$	552
Distributions in excess of income	(1)		(23)		(24)
Net income attributable to the Partnership	$	147	$	381	$	528
Weighted average units outstanding:
Basic and diluted			229.2
Net income per limited partner unit:
Basic and diluted			$	1.66

⁽¹⁾This includes the impact of waived distributions to the holders of IDRs. See Note 4 — Related Party Transactions for additional information.


	2018
	General Partner		Limited Partners’ Common Units		Total

	(in millions of dollars, except per unit data)
Distributions declared	$	135	$	334	$	469
Distributions in excess of income	(1)		(4)		(5)
Net income attributable to the Partnership	$	134	$	330	$	464
Weighted average units outstanding:
Basic and diluted			220.3
Net income per limited partner unit:
Basic and diluted			$	1.50


	2017
	General Partner		Limited Partners’ Common Units		Total

	(in millions of dollars, except per unit data)
Distributions declared	$	64	$	228	$	292
Income in excess of distributions	—		3		3
Net income attributable to the Partnership	$	64	$	231	$	295
Weighted average units outstanding:
Basic and diluted			180.4
Net income per limited partner unit:
Basic and diluted			$	1.28