Quarterly report pursuant to Section 13 or 15(d)

Cash Distributions and Net Income (Loss) per Common Unit (Tables)

v2.4.0.6
Cash Distributions and Net Income (Loss) per Common Unit (Tables)
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Summary Schedule of Distributions Paid
The following provides a summary of distributions paid by us during the nine months ended September 30, 2012 (in thousands, except per unit data): 
 
 
 
 
 
 
Total Distribution
Date Paid
 
Period Covered by Distribution
 
Distribution Per Common Unit
 
Common Units
 
Class B Units
 
Subordinated Units
 
General Partner Units
February 14, 2012
 
October 1, 2011 - December 31, 2011
 
$
0.425

 
$
13,176

 
$

 
$

 
$
269

May 15, 2012
 
January 1, 2012 - March 31, 2012
 
$
0.425

 
$
13,323

 
$

 
$

 
$
272

August 14, 2012
 
April 1, 2012 - June 30, 2012
 
$
0.425

 
$
13,383

 
$

 
$

 
$
273

Reconciliation of Earnings Per Unit
The following table provides a reconciliation of net income (loss) and the allocation of net income (loss) to the common units, the Class B Units and the subordinated units for purposes of computing net income (loss) per unit (in thousands, except per unit data):
 
 
 
 
Limited Partner Units
 
 
 
 
Total
 
Common Units
 
Class B Units
 
Subordinated Units
 
General Partner
Three Months Ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(42,422
)
 
 
 
 
 
 
 
 
Declared distributions
 
17,125

 
16,783

 
 
 


 
342

Amortization of beneficial conversion feature of Class B Units
 

 
(2,971
)
 
14,888

 
(11,917
)
 

Assumed allocation of undistributed net loss
 
(59,547
)
 
(12,467
)
 

 
(42,744
)
 
(4,336
)
Assumed allocation of net income (loss)
 
 
 
$
1,345

 
$
14,888

 
$
(54,661
)
 
$
(3,994
)
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
31,997

 
54,710

 
135,384

 
 
Net income (loss) per unit
 
 
 
$
0.04

 
$
0.27

 
$
(0.40
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(14,479
)
 
 
 
 
 
 
 
 
Declared distributions
 
13,445

 
13,176

 
 
 


 
269

Assumed allocation of undistributed net loss
 
(27,924
)
 
(5,099
)
 

 
(22,267
)
 
(558
)
Assumed allocation of net income (loss)
 
 
 
$
8,077

 
$

 
$
(22,267
)
 
$
(289
)
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
27,408

 

 
135,384

 
 
Net income (loss) per unit
 
 
 
$
0.29

 
$

 
$
(0.16
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(86,615
)
 
 
 
 
 
 
 
 
Declared distributions
 
44,376

 
43,488

 
 
 


 
888

Amortization of beneficial conversion feature of Class B Units
 

 
(3,863
)
 
19,625

 
(15,762
)
 

Assumed allocation of undistributed net loss
 
(130,991
)
 
(28,278
)
 

 
(96,948
)
 
(5,765
)
Assumed allocation of net income (loss)
 
 
 
$
11,347

 
$
19,625

 
$
(112,710
)
 
$
(4,877
)
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
31,449

 
19,181

 
135,384

 
 
Net income (loss) per unit
 
 
 
$
0.36

 
$
1.02

 
$
(0.83
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(23,557
)
 
 
 
 
 
 
 
 
Declared distributions
 
36,691

 
35,957

 
 
 
 
 
734

Assumed allocation of undistributed net loss
 
(60,248
)
 
(11,002
)
 

 
(48,041
)
 
(1,205
)
Assumed allocation of net income (loss)
 
 
 
$
24,955

 
$

 
$
(48,041
)
 
$
(471
)
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
26,867

 

 
135,384

 
 
Net income (loss) per unit
 
 
 
$
0.93

 
$

 
$
(0.35
)