Star Gas Partners Just Filed Its Annual Report: 19) Earnings per Lim...


19) Earnings per Limited Partner Units


The following table presents the net income allocation and per unit data in accordance with FASB ASC 260-10-45-60 Earnings per Share, Master Limited Partnerships (EITF 03-06):


 













































































































































































Basic and Diluted Earnings Per Limited Partner:


 


Years Ended September 30,


 


(in thousands, except per unit data)


 


2019


 


 


2018


 


 


2017


 


Net income


 


$


17,637


 


 


$


55,505


 


 


$


26,900


 


Less General Partners’ interest in net income


 


 


95


 


 


 


314


 


 


 


156


 


Net income available to limited partners


 


 


17,542


 


 


 


55,191


 


 


 


26,744


 


Less dilutive impact of theoretical distribution of


   earnings under FASB ASC 260-10-45-60 *


 


 



 


 


 


6,340


 


 


 


914


 


Limited Partner’s interest in net income


   under FASB ASC 260-10-45-60


 


$


17,542


 


 


$


48,851


 


 


$


25,830


 


Per unit data:


 


 


 


 


 


 


 


 


 


 


 


 


Basic and diluted net income available to limited partners


 


$


0.35


 


 


$


1.01


 


 


$


0.48


 


Less dilutive impact of theoretical distribution of


   earnings under FASB ASC 260-10-45-60 *


 


 



 


 


 


0.12


 


 


 


0.02


 


Limited Partner’s interest in net income under


   FASB ASC 260-10-45-60


 


$


0.35


 


 


$


0.89


 


 


$


0.46


 


Weighted average number of Limited Partner units outstanding


 


 


50,814


 


 


 


54,764


 


 


 


55,888


 


 







*


In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required as per FASB ASC 260-10-45-60 to present net income per limited partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, 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.

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

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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

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