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Earnings Per Unit
 12 Months Ended
Dec. 31, 2017
Earnings Per Unit [Abstract]  
Earnings Per Unit

12.  EARNINGS PER UNIT



The partnership computes earnings per unit using the two-class method. Earnings per unit applicable to common and subordinated units is calculated by dividing the respective limited partners’ interest in net income by the weighted average number of common and subordinated units outstanding during the period, adjusted for the dilutive effect of any outstanding dilutive securities. Diluted earnings per limited partner unit is the same as basic earnings per limited partner unit as there were no potentially dilutive common or subordinated units outstanding as of December 31, 2017.  Earnings per unit is calculated for periods following the IPO since there were no units outstanding before July 1, 2015 (in thousands, except for per unit data):



   

 

 

 

 

 

 

 

 

 

 

 



Year Ended December 31, 2017



Limited Partner

Common Units

 

Limited Partner
Subordinated Units

 

General Partner

 

Total

Net income

 

 

 

 

 

 

 

 

 

 

 

Distributions declared

$

 28,974 

 

$

 28,919 

 

$

 1,231 

 

$

 59,124 

Earnings less than distributions

 

 (105)

 

 

 (98)

 

 

 (54)

 

 

 (257)

Total net income

$

 28,869 

 

$

 28,821 

 

$

 1,177 

 

$

 58,867 



 

 

 

 

 

 

 

 

 

 

 

Weighted-average units outstanding - basic and diluted

 

 15,916 

 

 

 15,890 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Earnings per limited partner unit - basic and diluted

$

 1.81 

 

$

 1.81 

 

 

 

 

 

 





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Year Ended December 31, 2016



Limited Partner
Common Units

 

Limited Partner
Subordinated Units

 

General Partner

 

Total

Net income

 

 

 

 

 

 

 

 

 

 

 

Distributions declared

$

 26,485 

 

$

 26,456 

 

$

 1,081 

 

$

 54,022 

Earnings in excess of distributions

 

 1,363 

 

 

 1,365 

 

 

 55 

 

 

 2,783 

Total net income

$

 27,848 

 

$

 27,821 

 

$

 1,136 

 

$

 56,805 



 

 

 

 

 

 

 

 

 

 

 

Weighted-average units outstanding - basic and diluted

 

 15,904 

 

 

 15,890 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Earnings per limited partner unit - basic and diluted

$

 1.75 

 

$

 1.75 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Year Ended December 31, 2015



Limited Partner
Common Units

 

Limited Partner
Subordinated Units

 

General Partner

 

Total

Net income

 

 

 

 

 

 

 

 

 

 

 

Distributions declared

$

 12,760 

 

$

 12,751 

 

$

 521 

 

$

 26,032 

Earnings less than distributions

 

 (1,482)

 

 

 (1,480)

 

 

 (61)

 

 

 (3,023)

Total net income

$

 11,278 

 

$

 11,271 

 

$

 460 

 

$

 23,009 



 

 

 

 

 

 

 

 

 

 

 

Weighted-average units outstanding - basic and diluted

 

 15,897 

 

 

 15,890 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Earnings per limited partner unit - basic and diluted

$

 0.71 

 

$

 0.71