Current report filing

Net Loss per Common Unit (Tables)

v3.8.0.1
Net Loss per Common Unit (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Schedule of Net Loss per Common Unit
The following table provides a reconciliation of net income (loss) and the allocation of net income (loss) to the common units, the subordinated units, the general partner units and IDRs for purposes of computing net loss per unit (in millions, except per unit data).
 
 
 
 
Limited Partner Units
 
 
 
 
 
 
Total
 
Common Units
 
Class B Units
 
Subordinated Units
 
General Partner Units
 
IDR
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
490

 
 
 
 
 
 
 
 
 
 
Declared distributions
 
514

 
376

 
—

 
127

 
10

 
1

Amortization of beneficial conversion feature of Class B units
 
—

 
(594
)
 
2,004

 
(1,410
)
 
—

 
—

Assumed allocation of undistributed net loss (1)
 
$
(24
)
 
(17
)
 
—

 
(7
)
 
—

 
—

Assumed allocation of net income
 
 
 
$
(235
)
 
$
2,004

 
$
(1,290
)
 
$
10

 
$
1

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
178.5

 
84.8

 
135.4

 
 
 
 
Net loss per unit (2)
 
 
 
$
(1.32
)
 


 
$
(9.52
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(171
)
 
 
 
 
 
 
 
 
 
 
Declared distributions
 
99

 
97

 
—

 
—

 
2

 
—

Amortization of beneficial conversion feature of Class B units
 
—

 
(29
)
 
100

 
(71
)
 
—

 
—

Assumed allocation of undistributed net loss
 
$
(270
)
 
(79
)
 
—

 
(186
)
 
(5
)
 
—

Assumed allocation of net loss
 
 
 
$
(11
)
 
$
100

 
$
(257
)
 
$
(3
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
57.1

 
145.3

 
135.4

 
 
 
 
Net loss per unit (2)
 
 
 
$
(0.20
)
 


 
$
(1.90
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(319
)
 
 
 
 
 
 
 
 
 
 
Declared distributions
 
99

 
97

 
—

 
—

 
2

 
—

Assumed allocation of undistributed net loss
 
$
(418
)
 
(121
)
 
—

 
(288
)
 
(8
)
 
—

Assumed allocation of net loss
 
 
 
$
(24
)
 
$
—

 
$
(288
)
 
$
(6
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
57.1

 
145.3

 
135.4

 
 
 
 
Net loss per unit (2)
 
 
 
$
(0.43
)
 


 
$
(2.13
)
 
 
 
 

 
 
(1)
Under our partnership agreement, the IDRs participate in net income (loss) only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income (loss).
(2)
Earnings per unit in the table may not recalculate exactly due to rounding because it is calculated based on whole numbers, not the rounded numbers presented.