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Net Income Per Limited Partner Unit | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Net Income Per Limited Partner Unit | NET INCOME PER COMMON UNIT: Basic net income per common 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 common 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. For the diluted earnings per share computation, income allocable to the limited partners is reduced, where applicable, for the decrease in earnings from Energy Transfer’s limited partner unit ownership in Sunoco LP and USAC that would have resulted assuming the incremental units related to Sunoco LP’s and USAC’s respective long-term 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,
| 2023 |  | 2022 |  | 2021
Net income | $ | 5,294 |  |  | $ | 5,868 |  |  | $ | 6,687 |
Less: Net income attributable to redeemable noncontrolling interests | 60 |  |  | 51 |  |  | 50 |
Less: Net income attributable to noncontrolling interests | 1,299 |  |  | 1,061 |  |  | 1,167 |
Net income, net of noncontrolling interests | 3,935 |  |  | 4,756 |  |  | 5,470 |
Less: General Partner’s interest in income | 3 |  |  | 4 |  |  | 6 |
Less: Preferred Unitholders’ interest in income | 463 |  |  | 422 |  |  | 285 |
Common Unitholders’ interest in net income | $ | 3,469 |  |  | $ | 4,330 |  |  | $ | 5,179 |
Basic Income per Common Unit: |  |  |  |  |
Weighted average common units | 3,161.7 |  |  | 3,086.8 |  |  | 2,734.4 |
Basic income per common unit | $ | 1.10 |  |  | $ | 1.40 |  |  | $ | 1.89 |
Diluted Income per Common Unit: |  |  |  |  |
Common Unitholders’ interest in net income | $ | 3,469 |  |  | $ | 4,330 |  |  | $ | 5,179 |
Dilutive effect of equity-based compensation of subsidiaries and distributions to convertible units | (1) |  |  | (2) |  |  | (2) |
Diluted income available to Common Unitholders | $ | 3,468 |  |  | $ | 4,328 |  |  | $ | 5,177 |
Weighted average common units | 3,161.7 |  |  | 3,086.8 |  |  | 2,734.4 |
Dilutive effect of unvested unit awards | 15.5 |  |  | 10.2 |  |  | 5.1 |
Weighted average common units, assuming dilutive effect of unvested unit awards | 3,177.2 |  |  | 3,097.0 |  |  | 2,739.5 |
Diluted income per common unit | $ | 1.09 |  |  | $ | 1.40 |  |  | $ | 1.89 |

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