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Net Loss Per Common Unit | 6 Months Ended
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Jun. 30, 2024
Net Income per Common Unit [Abstract] |
Net Loss Per Common Unit | Net Income (Loss) Per Common Unit Basic net income (loss) per common unit is computed by dividing net income (loss) attributable to Genesis Energy, L.P., after considering income attributable to our Class A preferred unitholders, by the weighted average number of common units outstanding. The dilutive effect of our Class A Convertible Preferred Units is calculated using the if-converted method. Under the if-converted method, the Class A Convertible Preferred Units are assumed to be converted at the beginning of the period (beginning with their respective issuance date), and the resulting common units are included in the denominator of the diluted net income (loss) per common unit calculation for the period being presented. The numerator is adjusted for distributions declared in the period, undeclared distributions that accumulated during the period, and any returns that accumulated in the period. For the three and six months ended June 30, 2024 and 2023, the effect of the assumed conversion of all the outstanding Class A Convertible Preferred Units was anti-dilutive and was not included in the computation of diluted earnings per unit. The following table reconciles net income (loss) attributable to Genesis Energy, L.P. and weighted average units used in computing basic and diluted net income (loss) per common unit (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) attributable to Genesis Energy, L.P. | $ | (8,744) |  |  | $ | 49,344 |  |  | $ | 2,609 |  |  | $ | 47,700 |
Less: Accumulated distributions and returns attributable to Class A Convertible Preferred Units | (21,894) |  |  | (22,910) |  |  | (43,788) |  |  | (46,912) |
Net income (loss) attributable to common unitholders | $ | (30,638) |  |  | $ | 26,434 |  |  | $ | (41,179) |  |  | $ | 788 |
Weighted average outstanding units | 122,464 |  |  | 122,579 |  |  | 122,464 |  |  | 122,579 |
Basic and diluted net income (loss) per common unit | $ | (0.25) |  |  | $ | 0.22 |  |  | $ | (0.34) |  |  | $ | 0.01 |

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