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Net Income per Unit | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Net Income per Unit | Net Income per Unit Basic net income per unit is computed by dividing net income by the weighted-average number of outstanding common units. Diluted net income per unit includes the effects of potentially dilutive units on our common units. For the three months ended March 31, 2025 and 2024, potentially dilutive units outstanding consist of unvested phantom units. The calculation of net income per unit is as follows (in thousands, except unit and per unit amounts):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024 |  |
Net income |  |  |  |  | $ | 39,034 |  |  | $ | 32,648 |  |  |
Weighted average common units outstanding, basic |  |  |  |  | 53,604,659 |  |  | 44,406,356 |  |  |
Dilutive effect of unvested phantom units |  |  |  |  | 29,177 |  |  | 16,461 |  |  |
Weighted average common units outstanding, diluted |  |  |  |  | 53,633,836 |  |  | 44,422,817 |  |  |
Net income per unit: |  |  |  |  |  |  |  |  |
Basic |  |  |  |  | $ | 0.73 |  |  | $ | 0.74 |  |  |
Diluted (1) |  |  |  |  | $ | 0.73 |  |  | $ | 0.73 |  |  |
(1) There were 28,692 and 42,315 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three months ended March 31, 2025 and 2024, respectively.

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