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Net Income per Unit | 9 Months Ended
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Sep. 30, 2024
Earnings Per Unit [Abstract] |
Net Income per Unit | Net Income per Unit Basic net income per unit is derived by dividing net income by the basic weighted average number of units outstanding for each period. Diluted net income per unit is derived by adjusting net income for the assumed dilutive effect of compensatory options (“Net income – diluted”) and dividing by the diluted weighted average number of units outstanding for each period.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (in thousands, except per unit amounts)
Net income – basic |  | $ | 127,195 |  |  | $ | 56,991 |  |  | $ | 317,940 |  |  | $ | 184,986 |
Net income – diluted |  | $ | 127,195 |  |  | $ | 56,991 |  |  | $ | 317,940 |  |  | $ | 184,986 |
Weighted average units outstanding – basic |  | 114,042 |  |  | 113,185 |  |  | 114,592 |  |  | 113,407 |
Weighted average units outstanding – diluted |  | 114,042 |  |  | 113,185 |  |  | 114,592 |  |  | 113,407 |
Basic net income per unit |  | $ | 1.12 |  |  | $ | 0.50 |  |  | $ | 2.77 |  |  | $ | 1.63 |
Diluted net income per unit |  | $ | 1.12 |  |  | $ | 0.50 |  |  | $ | 2.77 |  |  | $ | 1.63 |
There were no anti-dilutive options excluded from diluted net income in the three and nine months ended September 30, 2024 or 2023.

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