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Earnings Per OP Unit of MAALP (Tables) | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Schedule of Earnings Per Common Unit | For the three and nine months ended September 30, 2022 and 2021, MAALP’s diluted earnings per common unit was computed using the treasury stock method as presented below (dollars and units in thousands, except per unit amounts):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Calculation of Earnings per common unit - basic |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 125,703 |  |  | $ | 87,047 |  |  | $ | 455,840 |  |  | $ | 359,786 |
Net loss attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | 293 |  |  |  | — |
Unvested restricted units (allocation of earnings) |  |  | (82 | ) |  |  | (80 | ) |  |  | (308 | ) |  |  | (359 | )
Preferred unit distributions |  |  | (922 | ) |  |  | (922 | ) |  |  | (2,766 | ) |  |  | (2,766 | )
Net income available for MAALP common unitholders, adjusted |  | $ | 124,699 |  |  | $ | 86,045 |  |  | $ | 453,059 |  |  | $ | 356,661 |
Weighted average common units - basic |  |  | 118,564 |  |  |  | 118,430 |  |  |  | 118,528 |  |  |  | 118,389 |
Earnings per common unit - basic |  | $ | 1.05 |  |  | $ | 0.73 |  |  | $ | 3.82 |  |  | $ | 3.01 |
Calculation of Earnings per common unit - diluted |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 125,703 |  |  | $ | 87,047 |  |  | $ | 455,840 |  |  | $ | 359,786 |
Net loss attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | 293 |  |  |  | — |
Preferred unit distributions |  |  | (922 | ) |  |  | (922 | ) |  |  | (2,766 | ) |  |  | (2,766 | )
Net income available for MAALP common unitholders, adjusted |  | $ | 124,781 |  |  | $ | 86,125 |  |  | $ | 453,367 |  |  | $ | 357,020 |
Weighted average common units - basic |  |  | 118,564 |  |  |  | 118,430 |  |  |  | 118,528 |  |  |  | 118,389 |
Effect of dilutive securities |  |  | 205 |  |  |  | 296 |  |  |  | 267 |  |  |  | 305 |
Weighted average common units - diluted |  |  | 118,769 |  |  |  | 118,726 |  |  |  | 118,795 |  |  |  | 118,694 |
Earnings per common unit - diluted |  | $ | 1.05 |  |  | $ | 0.73 |  |  | $ | 3.82 |  |  | $ | 3.01 |

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