Net Earnings (Loss) Per Common Unitholders' Interest (Tables)

9 Months Ended

Apr. 30, 2015

In periods with undistributed earnings above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the general partner and a dilution of the earnings to the limited partners as follows:



	Ratio of total distributions payable to:
Quarterly distribution per common unit	Common unitholder		General partner
$0.56 to $0.63	86.9	%	13.1	%
$0.64 to $0.82	76.8	%	23.2	%
$0.83 and above	51.5	%	48.5	%

Schedule of Earnings Per Share

Additionally, there are no dilutive securities in periods with net losses.



	For the three months ended April 30,				For the nine months ended April 30,
	2015		2014		2015		2014
	(in thousands, except per unitholders' interest amounts)
Common unitholders’ interest in net earnings	$	35,454	$	44,931	$	87,511	$	80,196

Weighted average common units outstanding - basic	82,717.6		79,177.8		82,536.1		79,127.1
Dilutive securities	5.7		9.4		7.2		24.5
Weighted average common units outstanding - diluted	82,723.3		79,187.2		82,543.3		79,151.6

Basic and diluted net earnings per common unitholders’ interest	$	0.43	$	0.57	$	1.06	$	1.01