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Long-Term Incentive Plan
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Long-Term Incentive Plan
Long-Term Incentive Plan
We have a long-term incentive plan (“LTIP”) for certain of our employees and directors of our general partner. The LTIP primarily consists of phantom units and permits the grant of awards covering an aggregate payout of 11.9 million of our limited partner units. The compensation committee of our general partner’s board of directors administers our LTIP. The estimated units remaining available under the LTIP at June 30, 2017 total 2.6 million.
 
Our equity-based incentive compensation expense was as follows (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2016
 
2017
 
2016
 
2017
Performance-based awards:
 
 
 
 
 
 
 
 
2014 awards
 
$
979

 
$
—

 
$
4,388

 
$
28

2015 awards
 
926

 
2,066

 
2,471

 
3,224

2016 awards
 
1,023

 
2,592

 
2,143

 
3,641

2017 awards
 
—

 
1,252

 
—

 
2,498

Time-based awards
 
481

 
660

 
1,057

 
1,326

Total
 
$
3,409

 
$
6,570

 
$
10,059

 
$
10,717

 
 
 
 
 
 
 
 
 
Allocation of LTIP expense on our consolidated statements of income:
 
 
 
 
G&A expense
 
$
3,378

 
$
6,514

 
$
9,986

 
$
10,632

Operating expense
 
31

 
56

 
73

 
85

Total
 
$
3,409

 
$
6,570

 
$
10,059

 
$
10,717


On February 2, 2017, 207,445 phantom unit awards were issued pursuant to our LTIP. These grants included both performance-based and time-based phantom unit awards and have a three-year vesting period that will end on December 31, 2019.

Basic and Diluted Net Income Per Limited Partner Unit

The difference between our actual limited partner units outstanding and our weighted-average number of limited partner units outstanding used to calculate basic net income per unit is due to the impact of: (i) the phantom units issued to non-employee directors and (ii) the weighted average effect of units actually issued during a period.  The difference between the weighted-average number of limited partner units outstanding used for basic and diluted net income per unit calculations on our consolidated statements of income is primarily the dilutive effect of phantom unit grants associated with our LTIP that have not yet vested.