Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2020

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 common and subordinated unit:

	Three Months Ended March 31,
	2020		2019
	(in thousands, except per unit amounts)
NET INCOME (LOSS)	$	76,112	$	9,017
Distributions on Series B cumulative convertible preferred units	(5,250)		(5,250)
NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON AND SUBORDINATED UNITS	70,862		3,767
ALLOCATION OF NET INCOME (LOSS):
General partner interest	$	—	$	—
Common units	70,862		1,905
Subordinated units	—		1,862
	$	70,862	$	3,767
Weighted average common units outstanding:
Weighted average common units outstanding (basic)	206,631		109,420
Effect of dilutive securities	—		615
Weighted average common units outstanding (diluted)	206,631		110,035
Weighted average subordinated units outstanding:
Weighted average subordinated units outstanding (basic)	—		96,329
Effect of dilutive securities	—		—
Weighted average subordinated units outstanding (diluted)	—		96,329
NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON AND SUBORDINATED UNIT:
Per common unit (basic)	$	0.34	$	0.02
Per subordinated unit (basic)	—		0.02
Per common unit (diluted)	0.34		0.02
Per subordinated unit (diluted)	—		0.02

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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:

	Three Months Ended March 31,
	2020	2019
	(in thousands)
Potentially dilutive securities (common units):
Series B cumulative convertible preferred units on an as-converted basis	14,969	14,969