Annual report pursuant to Section 13 and 15(d)

Net Income Per Limited Partner Unit (Tables)

v3.8.0.1
Net Income Per Limited Partner Unit (Tables)
12 Months Ended
Dec. 31, 2017
Net Income Per Limited Partner Unit  
Schedule of net income per common and subordinated unit

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

 

 

 

 

 

 

 

 

 

 

 

  

 

Year Ended December 31,

 

    

2015

    

2016

    

2017

  

 

 

 

 

 

 

 

 

 

Net income

  

$

159,105

  

 

236,703

  

 

307,315

Less:

 

 

 

 

 

 

 

 

 

Pre-Water Acquisition net income attributed to parent

 

 

(40,193)

 

 

 —

 

 

 —

Net income attributable to incentive distribution rights

 

 

(1,264)

 

 

(16,944)

 

 

(69,720)

Limited partner interest in net income

  

$

117,648

 

 

219,759

 

 

237,595

 

 

 

 

 

 

 

 

 

 

Net income per limited partner unit - basic and diluted

 

$

0.74

 

 

1.24

 

 

1.28

 

 

 

 

 

 

 

 

 

 

Weighted average limited partner units outstanding - basic

 

 

158,479

 

 

176,647

 

 

185,630

 

 

 

 

 

 

 

 

 

 

Weighted average limited partner units outstanding - diluted

 

 

158,527

 

 

176,801

 

 

186,083