Earnings Per Unit (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Unit [Abstract]

Basic and Diluted 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,
	2022			2021			2022			2021
BASIC EARNINGS PER COMMON UNIT
Net income attributable to common unitholders	$	1,411		$	1,112		$	2,707		$	2,453
Earnings allocated to phantom unit awards (1)		(12	)		(9	)		(23	)		(20	)
Net income allocated to common unitholders	$	1,399		$	1,103		$	2,684		$	2,433
Basic weighted-average number of common units outstanding		2,180			2,185			2,179			2,184
Basic earnings per common unit	$	0.64		$	0.50		$	1.23		$	1.11
DILUTED EARNINGS PER COMMON UNIT
Net income attributable to common unitholders	$	1,411		$	1,112		$	2,707		$	2,453
Net income attributable to preferred units		1			1			2			2
Net income attributable to limited partners	$	1,412		$	1,113		$	2,709		$	2,455
Diluted weighted-average number of units outstanding:
Distribution-bearing common units		2,180			2,185			2,179			2,184
Phantom units (2)		19			18			19			18
Preferred units (2)		2			2			2			2
Total		2,201			2,205			2,200			2,204
Diluted earnings per common unit	$	0.64		$	0.50		$	1.23		$	1.11

(1)	Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 13 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 13 for information regarding phantom unit awards.  See Note 8 for information regarding preferred units.