| Schedule of Anticipated Beneficial Conversion Feature impact to Capital Accounts |
The following is a schedule by years, based on the capital structure as of September 30, 2016, of the anticipated impact to the capital accounts in connection with the amortization of the beneficial conversion feature (in thousands):
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Common Units |
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Class B Units |
|
Subordinated Units |
2016 |
$ |
(29,567 |
) |
|
$ |
99,685 |
|
|
$ |
(70,118 |
) |
2017 |
(594,462 |
) |
|
2,004,209 |
|
|
(1,409,747 |
) |
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| Schedule of Net Income (Loss) per Common Unit |
The following table (in thousands, except per unit data) provides a reconciliation of net loss and the allocation of net loss to the common units, the subordinated units and the general partner units for purposes of computing net loss per unit.
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Limited Partner Units |
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Total |
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Common Units |
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Class B Units |
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Subordinated Units |
|
General Partner Units |
Three Months Ended September 30, 2016 |
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Net loss |
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$ |
(81,509 |
) |
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Declared distributions |
|
24,758 |
|
|
24,263 |
|
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— |
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— |
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|
495 |
|
Amortization of beneficial conversion feature of Class B units |
|
— |
|
|
(8,806 |
) |
|
29,691 |
|
|
(20,885 |
) |
|
— |
|
Assumed allocation of undistributed net loss |
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$ |
(106,267 |
) |
|
(30,890 |
) |
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— |
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|
(73,252 |
) |
|
(2,125 |
) |
Assumed allocation of net income (loss) |
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$ |
(15,433 |
) |
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$ |
29,691 |
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|
$ |
(94,137 |
) |
|
$ |
(1,630 |
) |
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Weighted average units outstanding |
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|
57,086 |
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|
145,333 |
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|
135,384 |
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Net income (loss) per unit |
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$ |
(0.27 |
) |
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$ |
0.20 |
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$ |
(0.70 |
) |
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Three Months Ended September 30, 2015 |
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Net loss |
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$ |
(24,132 |
) |
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Declared distributions |
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24,755 |
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|
24,260 |
|
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— |
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— |
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|
495 |
|
Assumed allocation of undistributed net loss |
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$ |
(48,887 |
) |
|
(14,209 |
) |
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— |
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|
(33,700 |
) |
|
(978 |
) |
Assumed allocation of net income (loss) |
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$ |
10,051 |
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|
$ |
— |
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$ |
(33,700 |
) |
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$ |
(483 |
) |
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Weighted average units outstanding |
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57,081 |
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145,333 |
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|
135,384 |
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Net income (loss) per unit |
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$ |
0.18 |
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|
$ |
— |
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$ |
(0.25 |
) |
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Nine Months Ended September 30, 2016 |
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Net loss |
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$ |
(256,540 |
) |
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Declared distributions |
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74,268 |
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|
72,783 |
|
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— |
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— |
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|
1,485 |
|
Amortization of beneficial conversion feature of Class B units |
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— |
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(8,806 |
) |
|
29,691 |
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(20,885 |
) |
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— |
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Assumed allocation of undistributed net loss |
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$ |
(330,808 |
) |
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(96,158 |
) |
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— |
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(228,034 |
) |
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(6,616 |
) |
Assumed allocation of net income (loss) |
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$ |
(32,181 |
) |
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$ |
29,691 |
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$ |
(248,919 |
) |
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$ |
(5,131 |
) |
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Weighted average units outstanding |
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57,085 |
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145,333 |
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|
135,384 |
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Net income (loss) per unit |
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$ |
(0.56 |
) |
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$ |
0.20 |
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$ |
(1.84 |
) |
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Nine Months Ended September 30, 2015 |
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Net loss |
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$ |
(262,851 |
) |
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Declared distributions |
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74,266 |
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|
72,781 |
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— |
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— |
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|
1,485 |
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Assumed allocation of undistributed net loss |
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$ |
(337,117 |
) |
|
(97,984 |
) |
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— |
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|
(232,389 |
) |
|
(6,744 |
) |
Assumed allocation of net loss |
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$ |
(25,203 |
) |
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$ |
— |
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$ |
(232,389 |
) |
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$ |
(5,259 |
) |
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Weighted average units outstanding |
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57,081 |
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145,333 |
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|
135,384 |
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Net loss per unit |
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$ |
(0.44 |
) |
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$ |
— |
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$ |
(1.72 |
) |
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