Net Income Per Limited Partner and General Partner Interest | NET INCOME PER LIMITED PARTNER AND GENERAL PARTNER INTEREST: The Partnership allocates net income among our general partner and limited partners using the two-class method in accordance with applicable authoritative accounting guidance. Under the two-class method, we allocate our net income to our limited partners and our general partner in accordance with the terms of our Partnership Agreement. We also allocate any earnings in excess of distributions to our limited partners and our general partner in accordance with the terms of our Partnership Agreement. We allocate any distributions in excess of earnings for the period to our general partner and our limited partners based on their respective proportionate ownership interests in us, after taking into account distributions to be paid with respect to the incentive distribution rights, as set forth in the Partnership Agreement. Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or agreements to issue common units, such as awards under the long-term incentive plan, were exercised, settled or converted into common units. When it is determined that potential common units resulting from an award subject to performance or market conditions should be included in the diluted net income per limited partner unit calculation, the impact is reflected by applying the treasury stock method. The following table illustrates the Partnership’s calculation of net income per unit for common units and subordinated units (in thousands, except for per unit information): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net Income $ 19,376 $ 11,474 $ 41,333 $ 25,540 Less: General Partner Interest in Net Income 328 192 700 435 Less: Net Income Allocable to Class A Preferred Units — 1,851 — 3,702 Net Income Allocable to Limited Partner Units $ 19,048 $ 9,431 $ 40,633 $ 21,403 Net Income Allocable to Common Units - Basic & Diluted $ 11,013 $ 4,737 $ 23,490 $ 10,751 Net Income Allocable to Subordinated Units - Basic & Diluted $ 8,035 $ 4,694 $ 17,143 $ 10,652 Weighted Average Limited Partner Units Outstanding - Basic Common Units 15,909,266 11,718,635 15,890,476 11,699,937 Subordinated Units 11,611,067 11,611,067 11,611,067 11,611,067 Total 27,520,333 23,329,702 27,501,543 23,311,004 Weighted Average Limited Partner Units Outstanding - Diluted Common Units 15,976,995 11,858,983 15,967,360 11,833,856 Subordinated Units 11,611,067 11,611,067 11,611,067 11,611,067 Total 27,588,062 23,470,050 27,578,427 23,444,923 Net Income Per Limited Partner Unit - Basic Common Units $ 0.69 $ 0.40 $ 1.48 $ 0.92 Subordinated Units $ 0.69 $ 0.40 $ 1.48 $ 0.92 Net Income Per Limited Partner Unit - Basic $ 0.69 $ 0.40 $ 1.48 $ 0.92 Net Income Per Limited Partner Unit - Diluted Common Units $ 0.69 $ 0.40 $ 1.47 $ 0.91 Subordinated Units $ 0.69 $ 0.40 $ 1.48 $ 0.92 Net Income Per Limited Partner Unit - Diluted $ 0.69 $ 0.40 $ 1.47 $ 0.91 The outstanding Class A Preferred Units were converted on a one-to-one basis into common units on October 2, 2017, under the terms of the Partnership Agreement. As a result, the Partnership issued an aggregate of 3,956,496 Common Units to CNX and canceled the Class A Preferred Units. Following the conversion of the Class A Preferred Units into Common Units, no Class A Preferred Units are outstanding. There were 126,799 and 365,131 phantom units excluded from the computation of the diluted earnings per unit because their effect would be anti-dilutive for the three and six months ended June 30, 2018 and June 30, 2017 , respectively. Diluted net income per limited partner unit does not reflect the potential dilution that could occur if the preferred units of the partnership were converted to common units because the effect would be anti-dilutive for the three and six months ended June 30, 2017 . |