| NET INCOME PER UNIT |
NET INCOME PER UNIT The following table details the calculation of earnings per unit: | | | | | | | | | | | | | | Year Ended December 31, | | 2011 | | 2010 | | 2009 | | (Thousands of Dollars, Except Per Unit Data) | Net income attributable to NuStar Energy L.P. | $ | 221,461 |
| | $ | 238,970 |
| | $ | 224,875 |
| Less general partner distribution (including IDR) | 42,948 |
| | 39,531 |
| | 34,142 |
| Less limited partner distribution | 288,497 |
| | 271,847 |
| | 237,308 |
| Distributions greater than earnings | $ | (109,984 | ) | | $ | (72,408 | ) | | $ | (46,575 | ) | | | | | | | General partner earnings: | | | | | | Distributions | $ | 42,948 |
| | $ | 39,531 |
| | $ | 34,142 |
| Allocation of distributions greater than earnings (2%) | (2,201 | ) | | (1,447 | ) | | (932 | ) | Total | $ | 40,747 |
| | $ | 38,084 |
| | $ | 33,210 |
| | | | | | | Limited partner earnings: | | | | | | Distributions | $ | 288,497 |
| | $ | 271,847 |
| | $ | 237,308 |
| Allocation of distributions greater than earnings (98%) | (107,783 | ) | | (70,961 | ) | | (45,643 | ) | Total | $ | 180,714 |
| | $ | 200,886 |
| | $ | 191,665 |
| | | | | | | Weighted-average limited partner units outstanding | 65,018,301 |
| | 62,946,987 |
| | 55,232,467 |
| | | | | | | Net income per unit applicable to limited partners: | $ | 2.78 |
| | $ | 3.19 |
| | $ | 3.47 |
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