XML 51 R27.htm IDEA: XBRL DOCUMENT v3.25.3
Net Income per Unit (Tables)
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Unit
The calculation of net income per unit is as follows (in thousands, except unit and per unit amounts):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Net income$45,560 $33,674 $129,168 $107,380 
Less: Limited partners' distribution declared on common units59,898 51,263 178,830 147,794 
Undistributed net loss$(14,338)$(17,589)$(49,662)$(40,414)
Limited partners' earnings on common units:
Distributions$59,898 $51,263 $178,830 $147,794 
Allocation of undistributed net loss(14,338)(17,589)(49,662)(40,414)
Total limited partners' earnings on common units$45,560 $33,674 $129,168 $107,380 
Weighted average limited partner units outstanding, basic53,467,306 47,109,008 53,505,419 46,248,003 
Dilutive effect of unvested phantom units52,266 26,093 35,376 21,420 
Weighted average limited partner units outstanding, diluted53,519,572 47,135,101 53,540,795 46,269,423 
Net income per limited partner unit:
Basic$0.85 $0.71 $2.41 $2.32 
Diluted (1)
$0.85 $0.71 $2.41 $2.32 
1) There were 6,863 and 23,824 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three and nine months ended September 30, 2025, respectively. There were 24,506 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during both three and nine months ended September 30, 2024.