ASU No. 2015-06 – Earnings Per Share

ASU No. 2015-06 standardizes the calculation of historical earnings per share related to dropdown transactions for Master Limited Partnerships (MLPs), partnerships where interests are publically traded. The issue was not addressed in Topic 260 Earnings Per Share and so in practice, there are a variety of methods being used; ASU No. 2015-06 should eliminate the variety.