GENESIS ENERGY LP
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 6, 2026
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12. Net Income (Loss) Per Common Unit
- Net Income (Loss) Per Common Unit
Basic net income (loss) per common unit is computed by dividing Net Income (Loss) Attributable to Genesis Energy, L.P., after considering income attributable to our Class A Convertible Preferred unitholders, by the weighted average number of common units outstanding.
The dilutive effect of our Class A Convertible Preferred Units is calculated using the if-converted method. Under the if-converted method, the Class A Convertible Preferred Units are assumed to be converted at the beginning of the period (beginning with their respective issuance date), and the resulting common units are included in the denominator of the diluted net income (loss) per common unit calculation for the period being presented. The numerator is adjusted for distributions declared in the period, undeclared distributions that accumulated during the period, and any returns that accumulated in the period. For the three and six months ended June 30, 2026 and 2025, the effect of the assumed conversion of the Class A Convertible Preferred Units was anti-dilutive and was not included in the computation of diluted earnings per unit.
The following table illustrates the computation of basic and diluted net income (loss) per common unit:
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Net income (loss) from continuing operations | $56,603 | $10,011 | $75,748 | $(26,550) |
| Less: Net income attributable to noncontrolling interests | (13,746) | (10,417) | (26,091) | (19,186) |
| Less: Accumulated distributions and returns attributable to Class A Convertible Preferred Units | (10,830) | (14,868) | (24,413) | (43,270) |
| Net income (loss) attributable to common unitholders from continuing operations | 32,027 | (15,274) | 25,244 | (89,006) |
| Net loss from discontinued operations | — | — | — | (423,745) |
| Net income (loss) attributable to common unitholders | $32,027 | $(15,274) | $25,244 | $(512,751) |
| Weighted average outstanding units | 122,428 | 122,464 | 122,446 | 122,464 |
| Net income (loss) attributable to common unitholders per common unit from continuing operations - Basic and Diluted | $0.26 | $(0.12) | $0.21 | $(0.73) |
| Net loss per common unit from discontinued operations - Basic and Diluted | — | — | — | (3.46) |
| Net income (loss) per common unit - Basic and Diluted | $0.26 | $(0.12) | $0.21 | $(4.19) |
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