| 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):
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Total Distribution |
Date Paid |
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Period Covered by Distribution |
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Distribution Per Common Unit |
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Common Units |
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Class B Units |
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Subordinated Units |
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General Partner Units |
February 14, 2012 |
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October 1, 2011 - December 31, 2011 |
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$ |
0.425 |
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$ |
13,176 |
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$ |
— |
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$ |
— |
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$ |
269 |
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May 15, 2012 |
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January 1, 2012 - March 31, 2012 |
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$ |
0.425 |
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$ |
13,323 |
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$ |
— |
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$ |
— |
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$ |
272 |
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August 14, 2012 |
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April 1, 2012 - June 30, 2012 |
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$ |
0.425 |
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$ |
13,383 |
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$ |
— |
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$ |
— |
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$ |
273 |
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| 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):
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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 |
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General Partner |
Three Months Ended September 30, 2012 |
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Net loss |
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$ |
(42,422 |
) |
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Declared distributions |
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17,125 |
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16,783 |
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|
342 |
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Amortization of beneficial conversion feature of Class B Units |
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— |
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(2,971 |
) |
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14,888 |
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(11,917 |
) |
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— |
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Assumed allocation of undistributed net loss |
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(59,547 |
) |
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(12,467 |
) |
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— |
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(42,744 |
) |
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(4,336 |
) |
Assumed allocation of net income (loss) |
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$ |
1,345 |
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$ |
14,888 |
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$ |
(54,661 |
) |
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$ |
(3,994 |
) |
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Weighted average units outstanding |
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31,997 |
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54,710 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.04 |
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$ |
0.27 |
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$ |
(0.40 |
) |
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Three Months Ended September 30, 2011 |
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Net loss |
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$ |
(14,479 |
) |
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Declared distributions |
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13,445 |
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13,176 |
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269 |
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Assumed allocation of undistributed net loss |
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(27,924 |
) |
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(5,099 |
) |
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— |
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(22,267 |
) |
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(558 |
) |
Assumed allocation of net income (loss) |
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$ |
8,077 |
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$ |
— |
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$ |
(22,267 |
) |
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$ |
(289 |
) |
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Weighted average units outstanding |
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27,408 |
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— |
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135,384 |
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Net income (loss) per unit |
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$ |
0.29 |
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$ |
— |
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$ |
(0.16 |
) |
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Nine Months Ended September 30, 2012 |
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Net loss |
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$ |
(86,615 |
) |
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Declared distributions |
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44,376 |
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43,488 |
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888 |
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Amortization of beneficial conversion feature of Class B Units |
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— |
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(3,863 |
) |
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19,625 |
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(15,762 |
) |
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— |
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Assumed allocation of undistributed net loss |
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(130,991 |
) |
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(28,278 |
) |
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— |
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(96,948 |
) |
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(5,765 |
) |
Assumed allocation of net income (loss) |
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$ |
11,347 |
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$ |
19,625 |
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$ |
(112,710 |
) |
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$ |
(4,877 |
) |
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Weighted average units outstanding |
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31,449 |
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19,181 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.36 |
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$ |
1.02 |
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$ |
(0.83 |
) |
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Nine Months Ended September 30, 2011 |
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Net loss |
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$ |
(23,557 |
) |
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Declared distributions |
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36,691 |
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35,957 |
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734 |
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Assumed allocation of undistributed net loss |
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(60,248 |
) |
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(11,002 |
) |
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— |
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(48,041 |
) |
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(1,205 |
) |
Assumed allocation of net income (loss) |
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$ |
24,955 |
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$ |
— |
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$ |
(48,041 |
) |
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$ |
(471 |
) |
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Weighted average units outstanding |
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26,867 |
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— |
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135,384 |
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Net income (loss) per unit |
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$ |
0.93 |
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$ |
— |
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$ |
(0.35 |
) |
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