v2.4.0.6
NET INCOME PER UNIT
 9 Months Ended
Sep. 30, 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 September 30,
 
Nine Months Ended September 30,
 
2012
 
2011
 
2012
 
2011
 
(Thousands of Dollars, Except Unit and Per Unit Data)
Net (loss) income attributable to NuStar Energy L.P.
$
4,389

 
$
70,158

 
$
(215,997
)
 
$
191,259

Less general partner distribution (including IDR)
12,766

 
10,600

 
35,962

 
31,350

Less limited partner distribution
85,285

 
70,814

 
240,241

 
211,019

Distributions (greater than) less than earnings
$
(93,662
)
 
$
(11,256
)
 
$
(492,200
)
 
$
(51,110
)
 
 
 
 
 
 
 
 
General partner earnings:
 
 
 
 
 
 
 
Distributions
$
12,766

 
$
10,600

 
$
35,962

 
$
31,350

Allocation of distributions (greater than)
less than earnings (2%)
(1,874
)
 
(225
)
 
(9,846
)
 
(1,023
)
Total
$
10,892

 
$
10,375

 
$
26,116

 
$
30,327

 
 
 
 
 
 
 
 
Limited partner earnings:
 
 
 
 
 
 
 
Distributions
$
85,285

 
$
70,814

 
$
240,241

 
$
211,019

Allocation of distributions (greater than)
less than earnings (98%)
(91,788
)
 
(11,031
)
 
(482,354
)
 
(50,087
)
Total
$
(6,503
)
 
$
59,783

 
$
(242,113
)
 
$
160,932

 
 
 
 
 
 
 
 
Weighted-average limited partner units outstanding
72,383,578

 
64,612,423

 
71,302,538

 
64,611,181

 
 
 
 
 
 
 
 
Net (loss) income per unit applicable to limited partners
$
(0.09
)
 
$
0.92

 
$
(3.40
)
 
$
2.49