v3.5.0.2
NET INCOME PER UNIT
 9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
 
(Thousands of Dollars,
Except Unit and Per Unit Data)
Net income attributable to NuStar Energy L.P.
$
51,141

 
$
65,016

 
$
161,059

 
$
247,240

Less: Distributions to general partner (including incentive
    distribution rights)
12,866

 
12,766

 
38,398

 
38,298

Less: Distributions to limited partner
85,943

 
85,285

 
256,513

 
255,855

Less: DERs to restricted units
650

 
—

 
1,969

 
—

Distributions in excess of earnings
$
(48,318
)
 
$
(33,035
)
 
$
(135,821
)
 
$
(46,913
)
 
 
 
 
 
 
 
 
Net income attributable to limited partner units:
 
 
 
 
 
 
 
Distributions to limited partner
$
85,943

 
$
85,285

 
$
256,513

 
$
255,855

Allocation of distributions in excess of earnings
(47,351
)
 
(32,374
)
 
(133,103
)
 
(45,974
)
Total
$
38,592

 
$
52,911

 
$
123,410

 
$
209,881

 
 
 
 
 
 
 
 
Basic weighted-average limited partner units outstanding
78,031,053

 
77,886,078

 
77,934,802

 
77,886,078

 
 
 
 
 
 
 
 
Diluted units outstanding:
 
 
 
 
 
 
 
Basic weighted-average limited partner units outstanding
78,031,053

 
77,886,078

 
77,934,802

 
77,886,078

Effect of dilutive participating securities
31,836

 
—

 
46,497

 
—

Diluted weighted-average limited partner units outstanding
78,062,889

 
77,886,078

 
77,981,299

 
77,886,078

 
 
 
 
 
 
 
 
Basic and diluted net income per unit applicable to
    limited partners
$
0.49

 
$
0.68

 
$
1.58

 
$
2.69