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Income (Loss) Per Common Unit | 3 Months Ended
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Jun. 30, 2025
Earnings Per Unit [Abstract] |
Income (Loss) Per Common Unit | Income (Loss) Per Common Unit The following table presents our calculation of basic and diluted weighted average common units outstanding for the periods indicated:
|  | Three Months Ended June 30, |  |
|  | 2025 |  | 2024 |  |  |  |
Weighted average common units outstanding during the period: |  |  |  |  |  |  |  |
Common units - Basic |  | 131,747,544 |  |  | 132,512,766 |  |  |  |  |
Common units - Diluted |  | 131,747,544 |  |  | 132,512,766 |  |  |  |  |
For the three months ended June 30, 2025 and 2024, all potential common units or convertible units were considered antidilutive. Our income (loss) per common unit is as follows for the periods indicated:
|  | Three Months Ended June 30, |  |
|  | 2025 |  | 2024 |  |  |  |
|  | (in thousands, except per unit amounts)
Income from continuing operations |  | $ | 30,265 |  |  | $ | 17,603 |  |  |  |  |
Less: Net income from continuing operations attributable to nonredeemable noncontrolling interests |  | (705) |  |  | (792) |  |  |  |  |
Less: Net income from continuing operations attributable to redeemable noncontrolling interests |  | (17) |  |  | — |  |  |  |  |
Net income from continuing operations attributable to NGL Energy Partners LP |  | 29,543 |  |  | 16,811 |  |  |  |  |
Less: Distributions to preferred unitholders (1) |  | (63,600) |  |  | (28,814) |  |  |  |  |
Less: Net loss from continuing operations allocated to the GP (2) |  | 33 |  |  | 12 |  |  |  |  |
Net loss from continuing operations allocated to common unitholders |  | $ | (34,024) |  |  | $ | (11,991) |  |  |  |  |
Income (loss) from discontinued operations, net of tax |  | $ | 39,379 |  |  | $ | (7,128) |  |  |  |  |
Less: Net (income) loss from discontinued operations allocated to the GP (2) |  | (39) |  |  | 7 |  |  |  |  |
Net income (loss) from discontinued operations allocated to common unitholders |  | $ | 39,340 |  |  | $ | (7,121) |  |  |  |  |
Net income (loss) allocated to common unitholders |  | $ | 5,316 |  |  | $ | (19,112) |  |  |  |  |
Basic and diluted income (loss) per common unit |  |  |  |  |  |  |  |
Loss from continuing operations |  | $ | (0.26) |  |  | $ | (0.09) |  |  |  |  |
Income (loss) from discontinued operations, net of tax |  | $ | 0.30 |  |  | $ | (0.05) |  |  |  |  |
Net income (loss) |  | $ | 0.04 |  |  | $ | (0.14) |  |  |  |  |
Basic and diluted weighted average common units outstanding |  | 131,747,544 |  |  | 132,512,766 |  |  |  |  |
(1) Includes distributions earned and declared for the three months ended June 30, 2025 and 2024 and the excess of the Class D Preferred Units (as defined herein) repurchase price over the carrying value of the units, as discussed further in Note 8. (2) Net (income) loss allocated to the GP includes distributions to which it is entitled as the holder of incentive distribution rights.

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