Net Income Per Limited Partner Unit (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

A reconciliation of net income and weighted average units used in computing basic and diluted net income (loss) per unit is as follows:



	Three Months Ended March 31,
	2017			2016
Net income	$	364		$	376
Less: Income attributable to noncontrolling interest	40			65
Net income, net of noncontrolling interest	324			311
General Partner’s interest in net income	206			297
Class H Unitholder’s interest in net income	98			79
Class I Unitholder’s interest in net income	—			2
Common Unitholders’ interest in net income (loss)	20			(67		)
Additional earnings allocated to General Partner	(3		)	(3		)
Distributions on employee unit awards, net of allocation to General Partner	(7		)	(5		)
Net income (loss) available to Common Unitholders	$	10		$	(75	)
Weighted average Common Units – basic ⁽¹⁾	548.2			490.2
Basic net income (loss) per Common Unit	$	0.02		$	(0.15	)

Diluted net income (loss) available to Common Unitholders	$	10		$	(75	)
Weighted average Common Units – basic ⁽¹⁾	548.2			490.2
Dilutive effect of unvested employee unit awards	1.4			—
Weighted average Common Units – diluted ⁽¹⁾	549.6			490.2
Diluted net income (loss) per Common Unit	$	0.02		$	(0.15	)

⁽¹⁾Excludes Common Units owned by the Partnership’s consolidated subsidiaries.

For certain periods reflected above, distributions paid for the period exceeded net income attributable to partners. Accordingly, the distributions paid to the General Partner, including incentive distributions, further exceeded net income, and as a result, a net loss was allocated to the Limited Partners for the period.