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Net Income Per Limited Partner Unit
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Net Income Per Limited Partner Unit
NET INCOME PER LIMITED PARTNER UNIT:
Basic net income per limited partner unit is computed by dividing net income, after considering the General Partner’s interest, by the weighted average number of limited partner interests outstanding. Diluted net income per limited partner unit is computed by dividing net income (as adjusted as discussed herein), after considering the General Partner’s interest, by the weighted average number of limited partner interests outstanding and the assumed conversion of the ET Series A Convertible Preferred Units, as discussed in Note 8. For the diluted earnings per share computation, income allocable to the limited partners is reduced, where applicable, for the decrease in earnings from ET’s limited partner unit ownership in ETO or Sunoco LP that would have resulted assuming the incremental units related to our or Sunoco LP’s equity incentive plans, as applicable, had been issued during the respective periods. Such units have been determined based on the treasury stock method.
A reconciliation of net income and weighted average units used in computing basic and diluted net income per unit is as follows:
 
Years Ended December 31,
 
2019
 
2018
 
2017
Income from continuing operations
$
4,899

 
$
3,630

 
$
2,543

Less: Net income attributable to redeemable noncontrolling interests
51

 
39

 

Less: Income (loss) from continuing operations attributable to noncontrolling interests
1,256

 
1,888

 
1,583

Income from continuing operations, net of noncontrolling interests
3,592

 
1,703

 
960

Less: General Partner’s interest in income from continuing operations
4

 
3

 
2

Less: ET Series A Convertible Preferred Unitholders’ interest in net income from continuing operations

 
33

 
38

Income from continuing operations available to Limited Partners
$
3,588

 
$
1,667

 
$
920

Basic Income from Continuing Operations per Limited Partner Unit:
 
 
 
 
 
Weighted average limited partner units
2,628.0

 
1,423.8

 
1,078.2

Basic income from continuing operations per Limited Partner unit
$
1.37

 
$
1.17

 
$
0.86

Basic loss from discontinued operations per Limited Partner unit
$

 
$
(0.01
)
 
$
(0.01
)
Diluted Income from Continuing Operations per Limited Partner Unit:
 
 
 
 
 
Income from continuing operations available to Limited Partners
$
3,588

 
$
1,667

 
$
920

Dilutive effect of equity-based compensation of subsidiaries and distributions to convertible units
(1
)
 
33

 
38

Diluted income from continuing operations available to Limited Partners
3,587

 
1,700

 
958

Weighted average limited partner units
2,628.0

 
1,423.8

 
1,078.2

Dilutive effect of unconverted unit awards and ET Series A Convertible Preferred Units

 
30.3

 
72.6

Dilutive effect of unvested unit awards
9.6

 
7.3

 

Weighted average limited partner units, assuming dilutive effect of unvested unit awards
2,637.6

 
1,461.4

 
1,150.8

Diluted income from continuing operations per Limited Partner unit
$
1.36

 
$
1.16

 
$
0.84

Diluted loss from discontinued operations per Limited Partner unit
$

 
$
(0.01
)
 
$
(0.01
)