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EARNINGS PER UNIT
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER UNIT
16. EARNINGS PER UNIT
 
Upon closing of the Merger, all of our LP Units are held by Hercules, and we will not be presenting earnings per unit information for periods after the effective date of the Merger.

The following tables set forth the calculation of basic and diluted earnings per unit, attributable to Buckeye’s unitholders, taking into consideration net income allocable to participating securities, as well as the reconciliation of basic weighted average units outstanding to diluted weighted average units outstanding (in thousands, except per unit amounts).
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Net income (loss) attributable to unitholders
$
112,350

 
$
(745,835
)
 
$
281,394

 
$
(541,558
)
 
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
153,922

 
153,512

 
153,896

 
151,908

Earnings (loss) per unit - basic
$
0.73

 
$
(4.86
)
 
$
1.83

 
$
(3.57
)
 
 
 
 
 
 
 
 
Diluted:
 

 
 

 
 

 
 

Weighted average units outstanding - basic
153,922

 
153,512

 
153,896

 
151,908

Effect of dilutive securities
819

 
—

 
775

 
—

Weighted average units outstanding - diluted
154,741

 
153,512

 
154,671

 
151,908

Earnings (loss) per unit - diluted
$
0.73

 
$
(4.86
)
 
$
1.82

 
$
(3.57
)