XML 48 R29.htm IDEA: XBRL DOCUMENT v3.3.1.900
Net Income Per Common Unit (Tables)
 12 Months Ended
Dec. 31, 2015
Net Income Per Common Unit  
Computation of basic and diluted net income per common unit

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Basic Net Income per Common Unit

 

 

 

 

 

 

 

Net income attributable to PAA

 

$
903

 

$
1,384

 

$
1,361

 

Less: Distributions to general partner (1)

 
(608

)
(502

)
(392

)

Less: Distributions to participating securities (1)

 
(6

)
(6

)
(5

)

Less: Undistributed (earnings)/loss allocated to general partner and participating securities (1)

 
16

 
2

 
(4

)

Net income attributable to common unitholders in accordance with application of the two-class method for MLPs

 

$
305

 

$
878

 

$
960

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common units outstanding

 
394

 
367

 
341

 

 

 

 

 

 

 

 

 

Basic net income per common unit

 

$
0.78

 

$
2.39

 

$
2.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Net Income per Common Unit

 

 

 

 

 

 

 

Net income attributable to PAA

 

$
903

 

$
1,384

 

$
1,361

 

Less: Distributions to general partner (1)

 
(608

)
(502

)
(392

)

Less: Distributions to participating securities (1)

 
(6

)
(6

)
(5

)

Less: Undistributed (earnings)/loss allocated to general partner and participating securities (1)

 
16

 
2

 
(3

)

 

 

 

 

 

 

 

 

Net income attributable to common unitholders in accordance with application of the two-class method for MLPs

 

$
305

 

$
878

 

$
961

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common units outstanding

 
394

 
367

 
341

 

Effect of dilutive securities: Weighted average LTIP units

 
2

 
2

 
2

 

 

 

 

 

 

 

 

 

Diluted weighted average common units outstanding

 
396

 
369

 
343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common unit

 

$
0.77

 

$
2.38

 

$
2.80

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

We calculate net income attributable to common unitholders based on the distributions pertaining to the current period’s net income.  After adjusting for the appropriate period’s distributions, the remaining undistributed earnings or excess distributions over earnings, if any, are allocated to the general partner, common unitholders and participating securities in accordance with the contractual terms of our partnership agreement and as further prescribed under the two-class method.

 

Undistributed earnings allocation to IDRs impact on basic and diluted net income per common unit

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Basic net income per common unit impact

 

$

—

 

$

—

 

$
(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common unit impact

 

$

—

 

$

—

 

$
(0.20

)