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v2.4.1.9

Statements of Operations (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012
Gain (loss) on trading of commodity futures contracts: |  |  |  |
Realized gain (loss) on closed positions | $ (19,750,710)us-gaap_TradingSecuritiesRealizedGainLoss | $ 3,338,310 us-gaap_TradingSecuritiesRealizedGainLoss | $ 3,239,910 us-gaap_TradingSecuritiesRealizedGainLoss |
Change in unrealized gain (loss) on open positions | (6,375,760)us-gaap_UnrealizedGainLossOnDerivatives | (710,660)us-gaap_UnrealizedGainLossOnDerivatives | 1,655,900 us-gaap_UnrealizedGainLossOnDerivatives |
Realized gain (loss) on short-term investments | 17 us-gaap_GainLossOnInvestments | 0 us-gaap_GainLossOnInvestments | 0 us-gaap_GainLossOnInvestments |
Dividend income | 1,252 us-gaap_DividendIncomeOperating | 6,856 us-gaap_DividendIncomeOperating | 10,149 us-gaap_DividendIncomeOperating |
Interest income | 10,869 us-gaap_InterestIncomeOperating | 5,073 us-gaap_InterestIncomeOperating | 5,345 us-gaap_InterestIncomeOperating |
ETF transaction fees | 15,050 us-gaap_OtherIncome | 18,900 us-gaap_OtherIncome | 10,500 us-gaap_OtherIncome |
Total income (loss) | (26,099,282)us-gaap_Revenues | 2,658,479 us-gaap_Revenues | 4,921,804 us-gaap_Revenues |
Expenses |  |  |  |
General Partner management fees (Note 3) | 286,806 us-gaap_AssetManagementCosts | 299,440 us-gaap_AssetManagementCosts | 391,039 us-gaap_AssetManagementCosts |
Professional fees | 178,177 us-gaap_ProfessionalFees | 140,442 us-gaap_ProfessionalFees | 125,339 us-gaap_ProfessionalFees |
Brokerage commissions | 27,058 us-gaap_FloorBrokerageExchangeAndClearanceFees | 29,674 us-gaap_FloorBrokerageExchangeAndClearanceFees | 33,506 us-gaap_FloorBrokerageExchangeAndClearanceFees |
Directors' fees and insurance | 9,150 us-gaap_NoninterestExpenseDirectorsFees | 9,012 us-gaap_NoninterestExpenseDirectorsFees | 9,844 us-gaap_NoninterestExpenseDirectorsFees |
Total expenses | 501,191 us-gaap_OperatingExpenses | 478,568 us-gaap_OperatingExpenses | 559,728 us-gaap_OperatingExpenses |
Expense waiver (Note 3) | (148,604)bno_ExpenseWaiver | (80,653)bno_ExpenseWaiver | (47,248)bno_ExpenseWaiver |
Net expenses | 352,587 bno_TotalExpensesNetOfExpenseWaiver | 397,915 bno_TotalExpensesNetOfExpenseWaiver | 512,480 bno_TotalExpensesNetOfExpenseWaiver |
Net income (loss) | $ (26,451,869)us-gaap_NetIncomeLoss | $ 2,260,564 us-gaap_NetIncomeLoss | $ 4,409,324 us-gaap_NetIncomeLoss |
Net income (loss) per limited partnership share | $ (21.42)us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax | $ 2.83 us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax | $ 3.71 us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax | [1]
Net income (loss) per weighted average limited partnership share | $ (26.86)us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted | $ 2.35 us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted | $ 3.37 us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted | [1]
Weighted average limited partnership shares outstanding | 984,795 us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding | 963,425 us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding | 1,307,650 us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding | [1]
[1] | On August 26, 2013, the United States Brent Oil Fund, LP executed a 2-for-1 forward share split for all shareholders of record as of the close of markets on August 26, 2013. The 2-for-1 forward share split was payable after the close of markets on August 28, 2013. United States Brent Oil Fund, LP began trading its post-share split price on August 29, 2013. The Statements of Operations have been adjusted for the period shown to reflect the 2-for-1 forward share split on a retroactive basis.

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