Star Gas Partners Just Filed Its Annual Report: Net Income per Lim...

Net Income per Limited Partner Unit

Income per limited partner unit is computed in accordance with the
Financial Accounting Standards Board (“FASB”)
Accounting Standards Codification (“ASC”) 260-10-05 Earnings Per Share,
Master Limited Partnerships (EITF 03-06), by dividing the limited
partners’ interest in net income by the weighted average
number of limited partner units outst anding. The pro forma nature
of the allocation required by this standard provides that in any
accounting period where the Company’s aggregate net income
exceeds its aggregate distribution for such period, the Company is
required to present net income per limited partner unit as if all
of the earnings for the periods were distributed, regardless of
whether those earnings would actually be distributed during a
particular period from an economic or practical perspective. This
allocation does not impact the Company’s overall net income
or other financial results. However, for periods in which the
Company’s aggregate net income exceeds its aggregate
distributions for such period, it will have the impact of reducing
the earnings per limited partner unit, as the calculation according
to this standard results in a theoretical increased allocation of
undistributed earnings to the general partner. In accounting
periods where aggregate net income does not exceed aggregate
distributions for such period, this standard does not have any
impact on the Company’s net income per limited partner unit
calculation. A separate and independent calculation for each
quarter and year-to-date period is
performed, in which the Company’s contractual participation
rights are taken into account.

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

To receive a free e-mail notification whenever Star Gas Partners makes a similar move, sign up!

Other recent filings from the company include the following:

Star Gas Partners insider just cashed-in 79,121 options - Oct. 22, 2020
Star Gas: Star Group, L.P. Declares Quarterly Distribution Of 13.25 Cents Per Unit - Oct. 22, 2020

Auto Refresh