| Summary Schedule of Distributions Paid |
The following provides a summary of distributions paid by us during the six months ended June 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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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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$ |
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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$ |
272 |
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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 June 30, 2012 |
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Net loss |
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$ |
(24,861 |
) |
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Declared distributions |
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13,612 |
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13,340 |
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272 |
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Amortization of beneficial conversion feature of Class B Units |
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— |
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(892 |
) |
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4,737 |
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(3,845 |
) |
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— |
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Assumed allocation of undistributed net loss |
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(38,473 |
) |
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(7,096 |
) |
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— |
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(30,608 |
) |
|
(769 |
) |
Assumed allocation of net income (loss) |
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$ |
5,352 |
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$ |
4,737 |
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$ |
(34,453 |
) |
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$ |
(497 |
) |
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Weighted average units outstanding |
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31,328 |
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2,442 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.17 |
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$ |
1.94 |
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$ |
(0.25 |
) |
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Three Months Ended June 30, 2011 |
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Net loss |
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$ |
(6,868 |
) |
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Declared distributions |
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11,679 |
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11,446 |
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234 |
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Assumed allocation of undistributed net loss |
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(18,547 |
) |
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(3,016 |
) |
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— |
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(15,161 |
) |
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(371 |
) |
Assumed allocation of net income (loss) |
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$ |
8,430 |
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$ |
— |
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$ |
(15,161 |
) |
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$ |
(137 |
) |
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Weighted average units outstanding |
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26,754 |
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— |
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135,384 |
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Net income (loss) per unit |
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$ |
0.32 |
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$ |
— |
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$ |
(0.11 |
) |
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Six Months Ended June 30, 2012 |
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Net loss |
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$ |
(44,193 |
) |
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Declared distributions |
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27,207 |
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26,663 |
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544 |
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Amortization of beneficial conversion feature of Class B Units |
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— |
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(892 |
) |
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4,737 |
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(3,845 |
) |
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— |
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Assumed allocation of undistributed net loss |
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(71,400 |
) |
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(13,169 |
) |
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— |
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(56,803 |
) |
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(1,428 |
) |
Assumed allocation of net income (loss) |
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$ |
12,602 |
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$ |
4,737 |
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$ |
(60,648 |
) |
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$ |
(884 |
) |
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Weighted average units outstanding |
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31,173 |
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1,221 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.40 |
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$ |
3.88 |
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$ |
(0.45 |
) |
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Six Months Ended June 30, 2011 |
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Net loss |
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$ |
(9,078 |
) |
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Declared distributions |
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23,246 |
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22,781 |
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— |
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Assumed allocation of undistributed net loss |
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(32,324 |
) |
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(5,256 |
) |
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— |
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(26,422 |
) |
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(646 |
) |
Assumed allocation of net income (loss) |
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$ |
17,525 |
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$ |
— |
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$ |
(26,422 |
) |
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$ |
(646 |
) |
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Weighted average units outstanding |
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26,592 |
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— |
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135,384 |
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Net income (loss) per unit |
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$ |
0.66 |
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$ |
— |
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$ |
(0.20 |
) |
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