Loss Per Common Unit

12 Months Ended

Mar. 31, 2024

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


	Year Ended March 31,
	2024	2023	2022
Weighted average common units outstanding during the period:
Common units - Basic	132,146,477	131,007,171	129,840,234


Common units - Diluted	132,146,477	131,007,171	129,840,234

For the years ended March 31, 2024, 2023 and 2022, all potential common units or convertible securities were considered antidilutive.

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


	Year Ended March 31,
	2024		2023		2022
	(in thousands, except unit and per unit amounts)
Net (loss) income	$	(143,124)	$	52,492	$	(184,101)
Less: Net income attributable to noncontrolling interests	(631)		(1,106)		(655)
Net (loss) income attributable to NGL Energy Partners LP	(143,755)		51,386		(184,756)
Less: Distributions to preferred unitholders (1)	(139,644)		(124,691)		(104,163)
Less: Net loss allocated to GP (2)	283		73		289
Net loss allocated to common unitholders	$	(283,116)	$	(73,232)	$	(288,630)
Basic and diluted loss per common unit	$	(2.14)	$	(0.56)	$	(2.22)

(1) Includes cumulative distributions for the years ended March 31, 2024, 2023 and 2022 which were earned but not declared or paid (see Note 9 for a further discussion of the suspension of common unit and preferred unit distributions).

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