| NET (LOSS) INCOME PER UNIT |
NET (LOSS) INCOME PER COMMON UNIT As discussed in Note 18, the Series D Preferred Units are convertible into common units at the option of the holder at any time on or after June 29, 2020. As such, we calculated the dilutive effect of the Series D Preferred Units using the if-converted method. The effect of the assumed conversion of the Series D Preferred Units outstanding was antidilutive for each of the years ended December 31, 2020, 2019 and 2018; therefore, we did not include such conversion in the computation of diluted net (loss) income per common unit.
Contingently issuable performance units are included as dilutive potential common units if it is probable that the performance measures will be achieved, unless to do so would be antidilutive. Refer to Note 23 for additional discussion. The following table details the calculation of net loss per common unit: | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2020 | | 2019 | | 2018 | | | (Thousands of Dollars, Except Unit and Per Unit Data) | | Net (loss) income | $ | (198,983) | | | $ | (105,693) | | | $ | 205,794 | | | Distributions to preferred limited partners | (124,882) | | | (121,693) | | | (92,540) | | | Distributions to general partner | — | | | — | | | (1,141) | | | Distributions to common limited partners | (174,873) | | | (259,136) | | | (248,705) | | | Distribution equivalent rights to restricted units | (2,093) | | | (2,659) | | | (2,045) | | | Distributions in excess of (loss) income | $ | (500,831) | | | $ | (489,181) | | | $ | (138,637) | | | | | | | | | Distributions to common limited partners | $ | 174,873 | | | $ | 259,136 | | | $ | 248,705 | | | Allocation of distributions in excess of (loss) income | (500,831) | | | (489,181) | | | (138,659) | | Series D Preferred Unit accretion (refer to Note 18) | (17,626) | | | (18,085) | | | (8,195) | | Loss to common unitholders attributable to the Merger (refer to Note 5) | — | | | — | | | (377,079) | | | Net loss attributable to common units | $ | (343,584) | | | $ | (248,130) | | | $ | (275,228) | | | | | | | | | Basic weighted-average common units outstanding | 109,155,117 | | | 107,789,030 | | | 99,490,495 | | | | | | | | | Diluted common units outstanding: | | | | | | | Basic weighted-average common units outstanding | 109,155,117 | | | 107,789,030 | | | 99,490,495 | | | Effect of dilutive potential common units | — | | | 65,669 | | | 40,677 | | | Diluted weighted-average common units outstanding | 109,155,117 | | | 107,854,699 | | | 99,531,172 | | | | | | | | | Basic and diluted net loss per common unit | $ | (3.15) | | | $ | (2.30) | | | $ | (2.77) | |
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