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Note 5 - Net Income Per Common Unit - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
[2]
Mar. 31, 2023
[3]
Sep. 30, 2022
Jun. 30, 2022
[4]
Mar. 31, 2022
[4]
Sep. 30, 2023
Sep. 30, 2022
Net income attributable to common unitholders $ 42,951     $ 65,714     $ 135,199 $ 179,119
Weighted average common units—basic (in shares) 12,635     12,506     12,613 12,476
Basic net income per common unit (in dollars per share) $ 3.4     $ 5.25     $ 10.72 $ 14.36
Plus: dilutive effect of preferred units (in shares) 1,104     6,210     2,434 6,210
Plus: dilutive effect of warrants (in shares) 1,492     807     1,296 759
Plus: dilutive effect of unvested unit-based awards (in shares) 240     195     190 204
Weighted average common units—diluted (in shares) 15,471     19,718     16,533 19,649
Net income $ 63,846 [1] $ 70,334 $ 79,275 $ 74,555 $ 66,820 $ 63,899 $ 213,455 $ 205,274
Less: income attributable to preferred unitholders (786)     0     (2,693) 0
Less: redemption of preferred units (17,083)     0     (60,929) 0
Diluted net income attributable to common unitholders and the general partner 45,977     74,555     149,833 205,274
Less: diluted net income attributable to the general partner (920)     (1,491)     (2,997) (4,105)
Diluted net income attributable to common unitholders $ 45,057     $ 73,064     $ 146,836 $ 201,169
Diluted net income per common unit (in dollars per share) $ 2.91     $ 3.71     $ 8.88 $ 10.24
[1] Net income includes $2.9 million of income attributable to preferred unitholders that accumulated during the period, of which $2.9 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[2] Net income includes $5.0 million of income attributable to preferred unitholders that accumulated during the period, of which $4.9 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[3] Net income includes $6.7 million of income attributable to preferred unitholders that accumulated during the period, of which $6.5 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[4] Net income includes $7.5 million of income attributable to preferred unitholders that accumulated during the period, of which $7.4 million is allocated to the common unitholders and $0.2 million is allocated to the general partner.