ASU 2015-06

Topic 260, Earnings Per Share, contains guidance that addresses master limited
partnerships that originated from Emerging Issues Task Force (EITF) Issue No.
07-4, “Application of the Two-Class Method under FASB Statement No. 128 to
Master Limited Partnerships.” Under Topic 260, master limited partnerships apply
the two-class method of calculating earnings per unit because the general partner,
limited partners, and incentive distribution rights holders each participate
differently in the distribution of available cash in accordance with the contractual
rights contained in the partnership agreement.