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Earnings Per Unit
 12 Months Ended
Dec. 31, 2021
Earnings Per Unit [Abstract]  
Earnings Per Unit
Note 11.  Earnings Per Unit

The following table presents our calculation of basic and diluted earnings per common unit for the years indicated:

 
  
For the Year Ended December 31,
  
 
  
2021
    
2020
    
2019
  
BASIC EARNINGS PER COMMON UNIT
                  
Net income attributable to common unitholders
  
$
4,634.1
    
$
3,774.7
    
$
4,591.3
  
Earnings allocated to phantom unit awards (1)
    
(37.0
)
    
(32.0
)
    
(27.7
)
Net income allocated to common unitholders
  
$
4,597.1
    
$
3,742.7
    
$
4,563.6
  
 
                        
Basic weighted-average number of common units outstanding
    
2,183.3
      
2,185.8
      
2,188.6
  
 
                        
Basic earnings per common unit
  
$
2.11
    
$
1.71
    
$
2.09
  
 
                        
DILUTED EARNINGS PER COMMON UNIT
                        
Net income attributable to common unitholders
  
$
4,634.1
    
$
3,774.7
    
$
4,591.3
  
Net income attributable to preferred units
    
3.6
      
0.9
      
–
  
Net income attributable to limited partners
  
$
4,637.7
    
$
3,775.6
    
$
4,591.3
  
 
                        
Diluted weighted-average number of units outstanding:
                        
Distribution-bearing common units
    
2,183.3
      
2,185.8
      
2,188.6
  
Phantom units (2)
    
17.5
      
15.7
      
13.1
  
Preferred units (2)
    
2.5
      
0.7
      
–
  
Total
    
2,203.3
      
2,202.2
      
2,201.7
  
 
                        
Diluted earnings per common unit
  
$
2.10
    
$
1.71
    
$
2.09
  

(1)
Phantom units are considered participating securities for purposes of computing basic earnings per unit. See Note 12 for information regarding the phantom units. 
(2)
We use the “if-converted method” to determine the potential dilutive effect of the vesting of phantom unit awards and the conversion of preferred units outstanding.  See Note 8 for information regarding preferred units.