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EARNINGS PER LIMITED PARTNER UNIT | 9 Months Ended
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Sep. 30, 2020
EARNINGS PER LIMITED PARTNER UNIT |
EARNINGS PER LIMITED PARTNER UNIT | 14.EARNINGS PER LIMITED PARTNER UNIT ​ We utilize the two-class method in calculating basic and diluted earnings per limited partner unit ("EPU"). Net income attributable to ARLP is allocated to limited partners and participating securities under deferred compensation plans, which include rights to nonforfeitable distributions or distribution equivalents. Net losses attributable to ARLP are allocated to limited partners but not to participating securities. Our participating securities are outstanding awards under our Long-Term Incentive Plan ("LTIP") and phantom units in notional accounts under our Supplemental Executive Retirement Plan ("SERP") and the MGP Amended and Restated Deferred Compensation Plan for Directors ("Directors' Deferred Compensation Plan"). ​ The following is a reconciliation of net income (loss) attributable to ARLP used for calculating basic and diluted earnings per unit and the weighted-average units used in computing EPU for the three and nine months ended September 30, 2020 and 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
​ | ​ | (in thousands, except per unit data) | ​
Net income (loss) attributable to ARLP | ​ | $ | 27,199 | ​ | $ | 39,084 | ​ | $ | (164,248) | ​ | $ | 373,582 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Distributions to participating securities | ​ |  | — | ​ |  | (1,133) | ​ |  | — | ​ |  | (3,360) | ​
Undistributed earnings attributable to participating securities | ​ |  | (581) | ​ |  | — | ​ |  | — | ​ |  | (2,655) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) attributable to ARLP available to limited partners | ​ | $ | 26,618 | ​ | $ | 37,951 | ​ | $ | (164,248) | ​ | $ | 367,567 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average limited partner units outstanding – basic and diluted | ​ |  | 127,195 | ​ |  | 128,391 | ​ |  | 127,154 | ​ |  | 128,312 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per limited partner unit - basic and diluted (1) | ​ | $ | 0.21 | ​ | $ | 0.30 | ​ | $ | (1.29) | ​ | $ | 2.86 | ​
(1) | Diluted EPU gives effect to all potentially dilutive common units outstanding during the period using the treasury stock method. Diluted EPU excludes all potentially dilutive units calculated under the treasury stock method if their effect is anti-dilutive. The combined total of LTIP, SERP and Directors' Deferred Compensation Plan units of 661 and 656 for the three and nine months ended September 30, 2020, respectively, and 1,133 and 1,216 for the three and nine months ended September 30, 2019, respectively, were considered anti-dilutive under the treasury stock method.

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