The following table summarizes the basic and diluted earnings (loss) per unit calculations (in millions, except per unit amounts):
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Allocation of net income from continuing operations among partner interests: | | | | | | | | | Net income from continuing operations allocated to Class A common unitholders | $ | 542 | | | $ | 318 | | | $ | 1,387 | | | $ | 668 | | | Net income from continuing operations allocated to Partnership exchangeable unitholders | 162 | | | 122 | | | 427 | | | 259 | | | Net income from continuing operations attributable to common unitholders | $ | 704 | | | $ | 440 | | | $ | 1,814 | | | $ | 927 | | | | | | | | | | | Allocation of net loss from discontinued operations among partner interests: | | | | | | | | | Net loss from discontinued operations allocated to Class A common unitholders | $ | — | | | $ | 3 | | | $ | — | | | $ | 5 | | | Net loss from discontinued operations allocated to Partnership exchangeable unitholders | — | | | 1 | | | — | | | 2 | | | Net loss from discontinued operations attributable to common unitholders | $ | — | | | $ | 4 | | | $ | — | | | $ | 7 | | | | | | | | | | | Allocation of net income among partner interests: | | | | | | | | | Net income allocated to Class A common unitholders | $ | 542 | | | $ | 315 | | | $ | 1,387 | | | $ | 663 | | | Net income allocated to Partnership exchangeable unitholders | 162 | | | 121 | | | 427 | | | 257 | | | Net income attributable to common unitholders | $ | 704 | | | $ | 436 | | | $ | 1,814 | | | $ | 920 | | | | | | | | | | | Denominator - basic and diluted partnership units: | | | | | | | | | Weighted average Class A common units | 230 | | | 209 | | | 228 | | | 209 | | | Weighted average Partnership exchangeable units | 105 | | | 127 | | | 107 | | | 127 | | | | | | | | | | | Earnings per unit attributable to common unitholders - basic and diluted: | | | | | | | | | Net income from continuing operations - Class A common units (a) | $ | 2.35 | | | $ | 1.52 | | | $ | 6.08 | | | $ | 3.20 | | | Net loss from discontinued operations - Class A common units (a) | $ | — | | | $ | (0.01) | | | $ | — | | | $ | (0.02) | | | Net income - Class A common units (a) | $ | 2.35 | | | $ | 1.51 | | | $ | 6.08 | | | $ | 3.18 | | | | | | | | | | | Net income from continuing operations - Partnership exchangeable units (a) | $ | 1.55 | | | $ | 0.97 | | | $ | 3.97 | | | $ | 2.04 | | | Net loss from discontinued operations - Partnership exchangeable units (a) | $ | — | | | $ | (0.01) | | | $ | — | | | $ | (0.02) | | | Net income - Partnership exchangeable units (a) | $ | 1.55 | | | $ | 0.96 | | | $ | 3.97 | | | $ | 2.02 | |
(a)Earnings (loss) per unit may not recalculate exactly as it is calculated based on unrounded numbers.
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