XML 30 R18.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings Per Unit
 6 Months Ended
Jun. 30, 2021
Earnings Per Unit [Abstract]  
Earnings Per Unit
Note 11.  Earnings Per Unit

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

 
  
For the Three Months
Ended June 30,
    
For the Six Months
Ended June 30,
  
 
  
2021
    
2020
    
2021
    
2020
  
BASIC EARNINGS PER COMMON UNIT
                        
Net income attributable to common unitholders
  
$
1,112.3
    
$
1,034.7
    
$
2,452.7
    
$
2,384.8
  
Earnings allocated to phantom unit awards (1)
    
(8.9
)
    
(7.5
)
    
(19.9
)
    
(17.4
)
Net income allocated to common unitholders
  
$
1,103.4
    
$
1,027.2
    
$
2,432.8
    
$
2,367.4
  
 
                                
Basic weighted-average number of common units outstanding
    
2,185.3
      
2,185.9
      
2,184.3
      
2,187.4
  
 
                                
Basic earnings per common unit
  
$
0.50
    
$
0.47
    
$
1.11
    
$
1.08
  
 
                                
DILUTED EARNINGS PER COMMON UNIT
                                
Net income attributable to common unitholders
  
$
1,112.3
    
$
1,034.7
    
$
2,452.7
    
$
2,384.8
  
Net income attributable to preferred units
    
1.0
      
–
      
1.9
      
–
  
Net income attributable to limited partners
  
$
1,113.3
    
$
1,034.7
    
$
2,454.6
    
$
2,384.8
  
 
                                
Diluted weighted-average number of units outstanding:
                                
Distribution-bearing common units
    
2,185.3
      
2,185.9
      
2,184.3
      
2,187.4
  
Phantom units (2)
    
17.9
      
16.0
      
17.7
      
15.6
  
Preferred units (2)
    
2.3
      
–
      
2.3
      
–
  
Total
    
2,205.5
      
2,201.9
      
2,204.3
      
2,203.0
  
 
                                
Diluted earnings per common unit
  
$
0.50
    
$
0.47
    
$
1.11
    
$
1.08
  

(1)
Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 12 for information regarding the phantom units.
(2)
We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding.  See Note 12 for information regarding phantom unit awards.  See Note 8 for information regarding preferred units.