| Earnings per Unit |
Note 4 — Earnings per Unit
Our earnings per common and subordinated unit were computed as follows:
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
|
|
December 31, |
|
December 31, |
|
|
|
|
2013 |
|
2012 |
|
2013 |
|
2012 |
|
|
|
|
(in thousands, except unit and per unit amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income attributable to parent equity |
|
$ |
23,898 |
|
$ |
40,176 |
|
$ |
5,324 |
|
$ |
25,599 |
|
|
Income allocated to general partner(*) |
|
(4,260 |
) |
(942 |
) |
(8,399 |
) |
(1,731 |
) |
|
Income allocated to limited partners |
|
$ |
19,638 |
|
$ |
39,234 |
|
$ |
(3,075 |
) |
$ |
23,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income allocated to: |
|
|
|
|
|
|
|
|
|
|
Common unitholders |
|
$ |
18,285 |
|
$ |
34,799 |
|
$ |
(1,780 |
) |
$ |
20,843 |
|
|
Subordinated unitholders |
|
$ |
1,353 |
|
$ |
4,435 |
|
$ |
(1,295 |
) |
$ |
3,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common units outstanding |
|
67,941,726 |
|
46,364,381 |
|
58,222,924 |
|
39,288,012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average subordinated units outstanding |
|
5,919,346 |
|
5,919,346 |
|
5,919,346 |
|
5,919,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income per common unit - basic and diluted |
|
$ |
0.27 |
|
$ |
0.75 |
|
$ |
(0.03 |
) |
$ |
0.53 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) per subordinated unit - basic and diluted |
|
$ |
0.23 |
|
$ |
0.75 |
|
$ |
(0.22 |
) |
$ |
0.51 |
|
(*) The income allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights, which are described in Note 10.
The restricted units described in Note 10 were antidilutive for the three months and nine months ended December 31, 2013 and 2012. |