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Net Income Per Limited Partner Unit
12 Months Ended
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,
 202320222021
Net income$5,294 $5,868 $6,687 
Less: Net income attributable to redeemable noncontrolling interests60 51 50 
Less: Net income attributable to noncontrolling interests1,299 1,061 1,167 
Net income, net of noncontrolling interests3,935 4,756 5,470 
Less: General Partner’s interest in income
Less: Preferred Unitholders’ interest in income463 422 285 
Common Unitholders’ interest in net income$3,469 $4,330 $5,179 
Basic Income per Common Unit:
Weighted average common units3,161.7 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 units3,161.7 3,086.8 2,734.4 
Dilutive effect of unvested unit awards15.5 10.2 5.1 
Weighted average common units, assuming dilutive effect of unvested unit awards3,177.2 3,097.0 2,739.5 
Diluted income per common unit$1.09 $1.40 $1.89