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Partners' Capital | 9 Months Ended
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Sep. 30, 2019
Partners' Capital. |
Partners' Capital | (10) Partners’ Capital ​ Common Units ​ As of September 30, 2019, we had 96,615,998 common units outstanding. As of September 30, 2019, ETO held 46,056,228 common units, including 8,000,000 common units held by the General Partner and controlled by ETO. ​ Class B Unit Conversion ​ On July 30, 2019, 6,397,965 Class B Units automatically converted into common units on a one-for-one basis, resulting in the issuance of 6,397,965 common units to ETO. Following the conversion, there are no longer Class B Units outstanding. ​ Cash Distributions As the USA Compression Predecessor is deemed to be the predecessor of the Partnership for financial reporting purposes, cash distributions paid by the Partnership related to periods prior to the Transactions Date are not included within the results of operations presented within the unaudited condensed consolidated financial statements for the nine months ended September 30, 2018. We have declared quarterly distributions per unit to our limited partner unitholders of record, including holders of our common units and phantom units, as follows (dollars in millions, except distribution per unit): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Distribution per | ​ | Amount Paid to | ​ | Amount Paid to | ​ | ​ | ​
​ | ​ | Limited Partner | ​ | Common | ​ | Phantom | ​ | Total | ​
Payment Date |  | Unit |  | Unitholders |  | Unitholders |  | Distribution |
August 10, 2018 | ​ | $ | 0.525 | ​ | $ | 47.2 | ​ | $ | 0.4 | ​ | $ | 47.6 | ​
November 9, 2018 | ​ | $ | 0.525 | ​ | $ | 47.2 | ​ | $ | 0.5 | ​ | $ | 47.7 | ​
February 8, 2019 | ​ | $ | 0.525 | ​ | $ | 47.2 | ​ | $ | 0.7 | ​ | $ | 47.9 | ​
May 10, 2019 | ​ | $ | 0.525 | ​ | $ | 47.3 | ​ | $ | 0.6 | ​ | $ | 47.9 | ​
August 9, 2019 | ​ | $ | 0.525 | ​ | $ | 47.4 | ​ | $ | 0.6 | ​ | $ | 48.0 | ​
​ Announced Quarterly Distribution ​ On October 17, 2019, we announced a cash distribution of $0.525 per unit on our common units. The distribution will be paid on November 8, 2019 to common unitholders of record as of the close of business on October 28, 2019. ​ Distribution Reinvestment Plan ​ During the nine months ended September 30, 2019, distributions of $0.7 million were reinvested under the Distribution Reinvestment Plan (“DRIP”) resulting in the issuance of 44,605 common units. ​ Earnings Per Unit ​ The computation of earnings per unit is based on the weighted average number of participating securities outstanding during the applicable period. Basic earnings per unit is determined by dividing net income (loss) allocated to participating securities after deducting the amount distributed on Preferred Units, by the weighted average number of participating securities outstanding during the period. Net income (loss) is allocated to participating securities based on their respective shares of the distributed and undistributed earnings for the period. To the extent cash distributions exceed net income (loss) for the period, the excess distributions are allocated to all participating securities outstanding based on their respective ownership percentages. Diluted earnings per unit are computed using the treasury stock method, which considers the potential issuance of limited partner units associated with our long-term incentive plan and Warrants. The classes of participating securities include common units, Class B Units prior to July 30, 2019, and certain equity-based compensation awards. Unvested phantom units and unexercised Warrants are not included in basic earnings per unit, as they are not considered to be participating securities, but are included in the calculation of diluted earnings per unit to the extent that they are dilutive, and in the case of Warrants to the extent they are considered “in the money.” For the three and nine months ended September 30, 2019, approximately 221,000 and 169,000 incremental unvested phantom units, respectively, represent the differences between our basic and diluted weighted average common units outstanding. For the three and nine months ended September 30, 2019, our outstanding Warrants are not included in the computation as they are not considered “in the money” for each period. For the three and nine months ended September 30, 2018, approximately 156,000 and 52,000 incremental unvested phantom units, respectively, and zero and 31,000 incremental warrants, respectively, were excluded from the calculation of diluted earnings per common unit because the impact was anti-dilutive.

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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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