v3.5.0.2
NET INCOME PER UNIT
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
NET INCOME PER UNIT
NET INCOME PER UNIT

Basic and diluted net income per unit is determined pursuant to the two-class method. Under this method, all earnings are allocated to our limited partner unitholders and participating securities based on their respective rights to receive distributions earned during the period. Participating securities include our general partner interest, including incentive distribution rights, and restricted units awarded under our Amended 2000 LTIP.

Basic net income per unit is computed by dividing net income attributable to our limited partner unitholders by the weighted-average number of limited partner units outstanding during the period.

Diluted net income per unit is computed by dividing net income attributable to our limited partner unitholders by the sum of (i) the weighted-average number of limited partner units outstanding during the period and (ii) the effect of dilutive potential limited partner units outstanding during the period. Dilutive potential limited partner units include contingently issuable performance units awarded under our Amended 2000 LTIP.

The following table details the calculation of earnings per unit:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(Thousands of Dollars,
Except Unit and Per Unit Data)
Net income attributable to NuStar Energy L.P.
$
52,517

 
$
54,325

 
$
109,918

 
$
182,224

Less: Distributions to general partner (including incentive
    distribution rights)
12,766

 
12,766

 
25,532

 
25,532

Less: Distributions to limited partner
85,285

 
85,285

 
170,570

 
170,570

Less: DERs to restricted units
657

 
—

 
1,319

 
—

Distributions in excess of earnings
$
(46,191
)
 
$
(43,726
)
 
$
(87,503
)
 
$
(13,878
)
 
 
 
 
 
 
 
 
Net income attributable to limited partner units:
 
 
 
 
 
 
 
Distributions to limited partner
$
85,285

 
$
85,285

 
$
170,570

 
$
170,570

Allocation of distributions in excess of earnings
(45,267
)
 
(42,851
)
 
(85,752
)
 
(13,600
)
Total
$
40,018

 
$
42,434

 
$
84,818

 
$
156,970

 
 
 
 
 
 
 
 
Basic weighted-average limited partner units outstanding
77,886,219

 
77,886,078

 
77,886,148

 
77,886,078

 
 
 
 
 
 
 
 
Diluted units outstanding:
 
 
 
 
 
 
 
Basic weighted-average limited partner units outstanding
77,886,219

 
77,886,078

 
77,886,148

 
77,886,078

Effect of dilutive participating securities
53,060

 
—

 
57,554

 
—

Diluted weighted-average limited partner units outstanding
77,939,279

 
77,886,078

 
77,943,702

 
77,886,078

 
 
 
 
 
 
 
 
Basic and diluted net income per unit applicable to
    limited partners
$
0.52

 
$
0.54

 
$
1.09

 
$
2.01