Annual report pursuant to Section 13 and 15(d)

Net Income Per Limited Partner Unit (Tables)

v3.6.0.2
Net Income Per Limited Partner Unit (Tables)
12 Months Ended
Dec. 31, 2016
Net Income Per Limited Partner Unit  
Schedule of net income per common and subordinated unit

The Partnership’s calculation of net income per common and subordinated unit for the periods indicated is as follows (in thousands, except per unit data):  

 

 

 

 

 

 

 

 

 

 

  

Year Ended December 31,

 

2014

    

2015

    

2016

  

 

 

 

 

 

 

 

 

Net income

$

127,875

  

$

159,105

  

$

236,703

Less:

 

 

 

 

 

 

 

 

Pre-IPO net income attributed to parent

 

(98,219)

 

 

 —

 

 

 —

Pre-Water Acquisition net income attributed to parent

 

(22,234)

 

 

(40,193)

 

 

 —

General partner interest in net income attributable to incentive distribution rights

 

 —

 

 

(1,264)

 

 

(16,944)

Limited partner interest in net income

$

7,422

  

$

117,648

 

$

219,759

 

 

 

 

 

 

 

 

 

Net income allocable to common units - basic and diluted

$

3,711

 

$

62,421

 

$

125,241

Net income allocable to subordinated units - basic and diluted

 

3,711

 

 

55,227

 

 

94,518

Limited partner interest in net income - basic and diluted

$

7,422

 

$

117,648

 

$

219,759

 

 

 

 

 

 

 

 

 

Net income per limited partner unit - basic and diluted

 

 

 

 

 

 

 

 

Common units

$

0.05

 

$

0.76

 

$

1.24

Subordinated units

$

0.05

 

$

0.73

 

$

1.24

 

 

 

 

 

 

 

 

 

Weighted average limited partner units  outstanding - basic

 

 

 

 

 

 

 

 

Common units

 

75,941

 

 

82,538

 

 

100,706

Subordinated units

 

75,941

 

 

75,941

 

 

75,941

 

 

 

 

 

 

 

 

 

Weighted average limited partner units  outstanding - diluted

 

 

 

 

 

 

 

 

Common units

 

75,941

 

 

82,586

 

 

100,860

Subordinated units

 

75,941

 

 

75,941

 

 

75,941