Net Income Per Limited Partner Unit |
NET INCOME PER COMMON UNIT A reconciliation of income or loss and weighted average units used in computing basic and diluted income per common unit is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | Net income | $ | 1,458 | | | $ | 1,992 | | | $ | 3,178 | | | $ | 3,684 | | Less: Net income attributable to noncontrolling interests | 275 | | | 663 | | | 659 | | | 1,099 | | Less: Net income attributable to redeemable noncontrolling interests | 20 | | | 15 | | | 33 | | | 31 | | Net income, net of noncontrolling interests | 1,163 | | | 1,314 | | | 2,486 | | | 2,554 | | Less: General Partner’s interest in net income | 1 | | | 1 | | | 2 | | | 2 | | Less: Preferred Unitholders’ interest in net income | 63 | | | 98 | | | 130 | | | 227 | | Less: Loss on redemption of preferred units | 8 | | | 33 | | | 8 | | | 54 | | Common Unitholders’ interest in net income | $ | 1,091 | | | $ | 1,182 | | | $ | 2,346 | | | $ | 2,271 | | Basic Income per Common Unit: | | | | | | | | Weighted average common units | 3,432.2 | | | 3,370.6 | | | 3,431.8 | | | 3,369.6 | | Basic income per common unit | $ | 0.32 | | | $ | 0.35 | | | $ | 0.68 | | | $ | 0.67 | | | | | | | | | | Diluted Income per Common Unit: | | | | | | | | Common Unitholders’ interest in net income | $ | 1,091 | | | $ | 1,182 | | | $ | 2,346 | | | $ | 2,271 | | Dilutive effect of equity-based compensation of subsidiaries (1) | — | | | 1 | | | — | | | 2 | | Diluted income attributable to Common Unitholders | $ | 1,091 | | | $ | 1,181 | | | $ | 2,346 | | | $ | 2,269 | | Weighted average common units | 3,432.2 | | | 3,370.6 | | | 3,431.8 | | | 3,369.6 | | Dilutive effect of unvested restricted unit awards (1) | 21.3 | | | 24.3 | | | 22.3 | | | 23.7 | | Weighted average common units, assuming dilutive effect of unvested restricted unit awards | 3,453.5 | | | 3,394.9 | | | 3,454.1 | | | 3,393.3 | | Diluted income per common unit | $ | 0.32 | | | $ | 0.35 | | | $ | 0.68 | | | $ | 0.67 | | | | | | | | | |
(1)Dilutive effects are excluded from the calculation for periods where the impact would have been antidilutive.
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