v2.4.0.6
NET INCOME PER UNIT
 3 Months Ended
Mar. 31, 2012
NET INCOME PER UNIT [Abstract]  
NET INCOME PER UNIT
NET INCOME PER UNIT

We have identified the general partner interest and incentive distribution rights (IDR) as participating securities and use the two-class method when calculating the net income per unit applicable to limited partners, which is based on the weighted-average number of common units outstanding during the period. Basic and diluted net income per unit applicable to limited partners are the same because we have no potentially dilutive securities outstanding.

The following table details the calculation of earnings per unit:
 
Three Months Ended March 31,
 
2012
 
2011
 
(Thousands of Dollars, Except Unit and Per Unit Data)
Net income attributable to NuStar Energy L.P.
$
26,351

 
$
28,502

Less general partner distribution (including IDR)
11,598

 
10,160

Less limited partner distribution
77,478

 
69,456

Distributions greater than earnings
$
(62,725
)
 
$
(51,114
)
 
 
 
 
General partner earnings:
 
 
 
Distributions
$
11,598

 
$
10,160

Allocation of distributions greater than earnings (2%)
(1,255
)
 
(1,023
)
Total
$
10,343

 
$
9,137

 
 
 
 
Limited partner earnings:
 
 
 
Distributions
$
77,478

 
$
69,456

Allocation of distributions greater than earnings (98%)
(61,470
)
 
(50,091
)
Total
$
16,008

 
$
19,365

 
 
 
 
Weighted-average limited partner units outstanding
70,756,078

 
64,610,549

 
 
 
 
Net income per unit applicable to limited partners
$
0.23

 
$
0.30