Earnings Per Unit (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Common and Subordinated Unit

The following table sets forth the computation of basic and diluted earnings per unit:

	For the Year Ended December 31,
	2019		2018		2017
	(in thousands, except per unit  amounts)
NET INCOME (LOSS)	$	214,368	$	295,560	$	157,153
Net (income) loss attributable to noncontrolling interests	—		(24)		34
Distributions on Series A redeemable preferred units	—		(25)		(3,117)
Distributions on Series B cumulative convertible preferred units	(21,000)		(21,000)		(1,925)
NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON AND SUBORDINATED UNITS	$	193,368	$	274,511	$	152,145
ALLOCATION OF NET INCOME (LOSS):
General partner interest	$	—	$	—	$	—
Common units	169,375		154,662		98,389
Subordinated units	23,993		119,849		53,756
	$	193,368	$	274,511	$	152,145
Weighted average common units outstanding:
Weighted average common units outstanding (basic)	168,230		106,064		97,400
Effect of dilutive securities	146		15,200		—
Weighted average common units outstanding (diluted)	168,376		121,264		97,400
Weighted average subordinated units outstanding:
Weighted average subordinated units outstanding (basic)	37,740		96,099		95,149
Effect of dilutive securities	—		247		—
Weighted average subordinated units outstanding (diluted)	37,740		96,346		95,149
NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON AND SUBORDINATED UNIT:
Per common unit (basic)	$	1.01	$	1.46	$	1.01
Per subordinated unit (basic)	0.64		1.25		0.56
Per common unit (diluted)1	1.01		1.45		1.01
Per subordinated unit (diluted)2	0.64		1.25		0.56

¹ For the year ended December 31, 2018, diluted net income (loss) attributable to common units includes distributions on Series B cumulative convertible preferred units of $21.0 million.

² For the year ended December 31, 2018, diluted net income (loss) attributable to subordinated units includes distributions on Series A redeemable preferred units of $0.3 million.

The following units of potentially dilutive securities were excluded from the computation of diluted weighted average units outstanding because their inclusion would be anti-dilutive:

	For the Year Ended December 31,
	2019	2018	2017
	(in thousands)
Potentially dilutive securities (common units):
Series A redeemable preferred units on an as-converted basis	—	189	996
Series B cumulative convertible preferred units on an as-converted basis	14,968	—	1,612
	14,968	189	2,608
Potentially dilutive securities (subordinated units):
Series A redeemable preferred units on an as-converted basis	—	—	1,304