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Earnings Per Unit
 3 Months Ended
Mar. 31, 2015
Earnings Per Unit [Abstract]  
Earnings Per Unit

Note 13.  Earnings Per Unit

The following table presents our calculation of basic and diluted earnings per unit for the periods indicated:

 
 
For the Three Months
Ended March 31,
 
 
 
2015
  
2014
 
BASIC EARNINGS PER UNIT
 
  
 
Net income attributable to limited partners
 
$
636.1
  
$
798.8
 
Undistributed earnings allocated and cash payments on phantom unit awards (1)
  
(2.2
)
  
(1.5
)
Net income available to common unitholders
 
$
633.9
  
$
797.3
 
 
        
Basic weighted-average number of common units outstanding
  
1,926.4
   
1,828.0
 
 
        
Basic earnings per unit
 
$
0.33
  
$
0.44
 
 
        
DILUTED EARNINGS PER UNIT
        
Net income attributable to limited partners
 
$
636.1
  
$
798.8
 
 
        
Diluted weighted-average number of units outstanding:
        
Distribution-bearing common units
  
1,926.4
   
1,828.0
 
Designated Units
  
35.4
   
45.1
 
Phantom units (1)
  
4.5
   
1.6
 
Incremental option units
  
0.4
   
1.2
 
Total
  
1,966.7
   
1,875.9
 
 
        
Diluted earnings per unit
 
$
0.32
  
$
0.43
 
       
(1)   Each phantom unit award includes a DER, which entitles the recipient to receive cash payments equal to the product of the number of phantom unit awards and the cash distribution per unit paid to our common unitholders. Cash payments made in connection with DERs are nonforfeitable. As a result, the phantom units are considered participating securities for purposes of computing basic earnings per unit. Phantom unit awards were first issued in February 2014.
 

See Note 1 for information regarding a two-for-one common unit split completed in August 2014.