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Net Income Per Unit (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Summary of Cash Distributions Our distributions earned with respect to a given period are declared subsequent to quarter end. Therefore, the table below represents total cash distributions applicable to the period in which the distributions are earned. The expected date of distribution for the distributions earned during the period ended September 30, 2018 is November 9, 2018. The calculation of net income per unit is as follows (dollars in thousands, except units and per unit amounts):
 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2018
 
2017
 
2018
 
2017
Net income attributable to partners
 
$
23,326

 
$
16,923

 
$
68,903

 
$
50,495

Less: General partner's distribution (including IDRs) (1)
 
6,688

 
4,852

 
18,598

 
13,697

Less: Limited partners' distribution
 
19,272

 
17,418

 
56,343

 
51,380

Distributions in excess of earnings
 
$
(2,634
)
 
$
(5,347
)
 
$
(6,038
)
 
$
(14,582
)
 
 
 
 
 
 
 
 
 
General partner's earnings:
 
 
 
 
 
 
 
 
Distributions (including IDRs) (1)
 
$
6,688

 
$
4,852

 
$
18,598

 
$
13,697

Allocation of distributions in excess of earnings
 
(52
)
 
(107
)
 
(120
)
 
(291
)
Total general partner's earnings
 
$
6,636

 
$
4,745

 
$
18,478

 
$
13,406

 
 
 
 
 
 
 
 
 
Limited partners' earnings on common units:
 
 
 
 
 
 
 
 
Distributions
 
$
19,272

 
$
17,418

 
$
56,343

 
$
51,380

Allocation of distributions in excess of earnings
 
(2,582
)
 
(5,240
)
 
(5,918
)
 
(14,291
)
Total limited partners' earnings on common units
 
$
16,690

 
$
12,178

 
$
50,425

 
$
37,089

 
 
 
 
 
 
 
 
 
Weighted average limited partner units outstanding (2):
 
 
 
 
 
 
 
 
Common units - (basic)
 
24,395,183

 
24,361,457

 
24,387,995

 
24,341,921

Common units - (diluted)
 
24,401,908

 
24,389,582

 
24,395,880

 
24,382,426

 
 
 
 
 
 
 
 
 
Net income per limited partner unit (2):
 
 
 
 
 
 
 
 
Common units - (basic)
 
$
0.68

 
$
0.50

 
$
2.07

 
$
1.52

Common units - (diluted) (3) 
 
$
0.68

 
$
0.50

 
$
2.07

 
$
1.52


(1) General partner distributions (including IDRs) consist of the 2% general partner interest and IDRs, which represent the right of the general partner to receive increasing percentages of quarterly distributions of available cash from operating surplus in excess of $0.43125 per unit per quarter. See Note 9 for further discussion related to IDRs.
(2) We base our calculation of net income per unit on the weighted-average number of common limited partner units outstanding during the period.
(3) Outstanding common unit equivalents of 1,776 were excluded from the diluted earnings per unit calculation for both the three and nine months ended September 30, 2018, as these common unit equivalents did not have a dilutive effect under the treasury stock method. Outstanding common unit equivalents totaling 10,090 were excluded from the diluted earnings per unit calculation for the nine months ended September 30, 2017. There were no outstanding common unit equivalents excluded from the diluted earnings per unit calculation for the three months ended September 30, 2017.