EARNINGS PER LIMITED PARTNER UNIT (Tables)

12 Months Ended

Dec. 31, 2020

Reconciliation of net income and EPU calculations


	Year Ended December 31,
	2020		2019		2018

	(in thousands, except per unit data)
Net income (loss) attributable to ARLP	$	(129,220)	$	399,414	$	366,604
Adjustment:
General partner's equity ownership (1)		—		—		(1,560)

Limited partners' interest in net income (loss) attributable to ARLP		(129,220)		399,414		365,044

Less:
Distributions to participating securities		—		(4,254)		(5,114)
Undistributed earnings attributable to participating securities		—		(2,237)		(1,641)

Net income (loss) attributable to ARLP available to limited partners	$	(129,220)	$	392,923	$	358,289

Weighted-average limited partner units outstanding – basic and diluted		127,165		128,117		130,758

Earnings per limited partner unit - basic and diluted (2)	$	(1.02)	$	3.07	$	2.74

(1)

Amounts presented for periods subsequent to the first quarter of 2018 reflect the impact of the Simplification Transactions, which ended net income allocations and quarterly cash distributions to MGP after May 31, 2018. Prior to the Simplification Transactions, MGP maintained a 1.0001% general partner interest in the Intermediate Partnership and a 0.001% managing member interest in Alliance Coal and thus received quarterly distributions and income and loss allocations during this time period.

(2)

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. For the years ended December 31, 2020, 2019 and 2018, the combined total of LTIP, SERP and Directors' Deferred Compensation Plan units of 773,664, 1,284,013 and 1,658,908, respectively, were considered anti-dilutive under the treasury stock method.