Net Earnings (Loss) Per Common Unitholders' Interest (Tables)

9 Months Ended

Apr. 30, 2018

In periods with undistributed earnings above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the general partner and a dilution of the earnings to the limited partners as follows:



	Ratio of total distributions payable to:
Quarterly distribution per common unit	Common unitholder		General partner
$0.56 to $0.63	86.9	%	13.1	%
$0.64 to $0.82	76.8	%	23.2	%
$0.83 and above	51.5	%	48.5	%

Schedule of Earnings Per Share

Additionally, there are no dilutive securities in periods with net losses.



	For the three months ended April 30,				For the nine months ended April 30,
	2018		2017		2018			2017
	(in thousands, except per common unit amounts)
Common unitholders’ interest in net earnings (loss)	$	10,752	$	6,470	$	(38,508	)	$	1,545

Weighted average common units outstanding - basic and diluted	97,152.7		97,152.7		97,152.7			97,255.4

Basic and diluted net earnings (loss) per common unit	$	0.11	$	0.07	$	(0.40	)	$	0.02