Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) per Common Unit (Tables)

v2.4.0.8
Net Income (Loss) per Common Unit (Tables)
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Schedule of Anticipated Beneficial Conversion Feature impact to Capital Accounts
The following is a schedule by years, based on the capital structure as of March 31, 2014, of the anticipated impact to the capital accounts in connection with the amortization of the beneficial conversion feature (in thousands):
 
Common Units
 
Class B Units
 
Subordinated Units
2014
(2
)
 
6

 
(4
)
2015
(232
)
 
781

 
(549
)
2016
(29,564
)
 
99,685

 
(70,121
)
2017
(594,390
)
 
2,004,209

 
(1,409,819
)
Schedule of Net Income (Loss) per Unit and Allocation of Distribution
The following table provides a reconciliation of net income (loss) and the allocation of net income (loss) to the common 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
 
Creole Trail Pipeline Business
Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(69,733
)
 
 
 
 
 
 
 
 
 
 
Declared distributions
 
24,754

 
24,259

 

 

 
495

 
 
Assumed allocation of undistributed net loss
 
$
(94,487
)
 
(27,462
)
 

 
(65,135
)
 
(1,890
)
 

Assumed allocation of net loss
 
 
 
$
(3,203
)
 
$

 
$
(65,135
)
 
$
(1,395
)
 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
57,079

 
145,333

 
135,384

 
 
 
 
Net loss per unit
 
 
 
$
(0.06
)
 
$

 
$
(0.48
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
 
$
(51,733
)
 
 
 
 
 
 
 
 
 
 
Declared distributions
 
24,754

 
24,259

 

 

 
495

 
 
Assumed allocation of undistributed net loss
 
$
(76,487
)
 
(19,543
)
 

 
(46,353
)
 
(1,345
)
 
(9,246
)
Assumed allocation of net income (loss)
 
 
 
$
4,716

 
$

 
$
(46,353
)
 
$
(850
)
 
$
(9,246
)
Assumed allocation of net loss adjusted for the Creole Trail Pipeline Business
 
 
 
$
2,029

 
$

 
$
(52,727
)
 
$
(1,035
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average units outstanding
 
 
 
45,547

 
133,333

 
135,384

 
 
 
 
Net income (loss) per unit
 
 
 
$
0.10

 
$

 
$
(0.34
)
 
 
 
 
Net income (loss) per unit, adjusted to include pre-acquisition date net losses of the Creole Trail Pipeline Business
 
 
 
$
0.04

 
$

 
$
(0.39
)