Memorial Production Partners LP Just Filed Its Quarterly Report: Note 10. Earnings p...

Note 10. Earnings per Unit

The following sets forth the calculation of earnings (loss) per unit, or EPU, for the periods indicated (in thousands, except per unit amounts):  

 

For the Three Months Ended

 

 

March 31,

 

 

2017

 

 

2016

 

Net income (loss) attributable to Memorial Production Partners LP

$

(16,377

)

 

$

(38,097

)

Less: General partner's 0.1% interest in net income (loss) (1)

 

 

 

 

(40

)

Less: Phantom unit distribution equivalents attributable to corresponding period (see Note 11)

 

 

 

 

(5

)

Net income (loss) available to limited partners

$

(16,377

)

 

$

(38,052

)

 

 

 

 

 

 

 

 

Weighted average limited partner units outstanding:

 

 

 

 

 

 

 

Common units

 

83,810

 

 

 

82,935

 

Total (2)

 

83,810

 

 

 

82,935

 

Basic and diluted EPU

$

(0.20

)

 

$

(0.46

)

 

 

(1)

As a result of repurchases under the December 2014 repurchase program, our Predecessor’s general partner had an approximate average 0.1046% interest in us prior to the MEMP GP Acquisition for the three months ended March 31, 2016.

 

 

(2)

For the three months ended March 31, 2017, 2,308,223 incremental phantom units under the treasury stock method were excluded from the calculation of diluted earnings per unit, respectively, due to their antidilutive effect as we were in a loss position.

 

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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