(Loss) Income Per Common Unit (Tables)

9 Months Ended

Dec. 31, 2020

Earnings Per Unit [Abstract]

Schedule of weighted average number of units

The following table presents our calculation of basic and diluted weighted average common units outstanding for the periods indicated:

	Three Months Ended December 31,		Nine Months Ended December 31,
	2020	2019	2020	2019
Weighted average common units outstanding during the period:
Common units - Basic	128,991,414	128,201,369	128,845,214	127,026,510
Effect of Dilutive Securities:
Service awards	—	1,157,221	—	—
Common units - Diluted	128,991,414	129,358,590	128,845,214	127,026,510

For the three months ended December 31, 2020 and the nine months ended December 31, 2020 and 2019, all potential common units or convertible securities were considered antidilutive. For the three months ended December 31, 2019, the warrants were antidilutive.

Schedule of (loss) income per common unit

Our (loss) income per common unit is as follows for the periods indicated:

	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
	(in thousands, except unit and per unit amounts)
(Loss) income from continuing operations	$	(380,423)	$	49,106	$	(408,201)	$	42,464
Less: Continuing operations loss (income) attributable to noncontrolling interests	34		166		(185)		563
Net (loss) income from continuing operations attributable to NGL Energy Partners LP	(380,389)		49,272		(408,386)		43,027
Less: Distributions to preferred unitholders (1)	(23,770)		(20,312)		(69,594)		(166,835)
Less: Continuing operations net loss (income) allocated to general partner (2)	404		(65)		477		16
Net (loss) income from continuing operations allocated to common unitholders	$	(403,755)	$	28,895	$	(477,503)	$	(123,792)
Loss from discontinued operations, net of tax	$	(107)	$	(6,115)	$	(1,746)	$	(192,800)
Less: Discontinued operations loss allocated to general partner (2)	—		6		2		193
Net loss from discontinued operations allocated to common unitholders	$	(107)	$	(6,109)	$	(1,744)	$	(192,607)
Net (loss) income allocated to common unitholders	$	(403,862)	$	22,786	$	(479,247)	$	(316,399)
Basic (loss) income per common unit
(Loss) income from continuing operations	$	(3.13)	$	0.23	$	(3.71)	$	(0.97)
Loss from discontinued operations, net of tax	$	—	$	(0.05)	$	(0.01)	$	(1.52)
Net (loss) income	$	(3.13)	$	0.18	$	(3.72)	$	(2.49)
Diluted (loss) income per common unit
(Loss) income from continuing operations	$	(3.13)	$	0.22	$	(3.71)	$	(0.97)
Loss from discontinued operations, net of tax	$	—	$	(0.05)	$	(0.01)	$	(1.52)
Net (loss) income	$	(3.13)	$	0.18	$	(3.72)	$	(2.49)
Basic weighted average common units outstanding	128,991,414		128,201,369		128,845,214		127,026,510
Diluted weighted average common units outstanding	128,991,414		129,358,590		128,845,214		127,026,510

(1)    This amount includes distributions to preferred unitholders. The final accretion for the beneficial conversion of the 10.75% Class A Convertible Preferred Units and the excess of the 10.75% Class A Convertible Preferred Units repurchase price over the carrying value of the units are included in the nine months ended December 31, 2019.

(2)    Net loss (income) allocated to the general partner includes distributions to which it is entitled as the holder of incentive distribution rights.