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Note 6 - Net Income Per Common Unit - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net income attributable to common unitholders $ 151,813 $ 196,771 $ 233,722
Weighted average common units—basic (in shares) 12,991 12,619 12,484
Basic net income per common unit (in dollars per share) $ 11.69 $ 15.59 $ 18.72
Plus: dilutive effect of preferred units (in shares) 281 2,059 6,176
Plus: dilutive effect of warrants (in shares) 139 1,202 783
Plus: dilutive effect of unvested unit-based awards (in shares) 236 216 210
Weighted average common units—diluted (in shares) 13,647 16,096 19,653
Net income $ 183,644 [1] $ 278,435 [2] $ 268,492 [3]
Less: income attributable to preferred unitholders (1,148) (2,694) 0
Less: redemption of preferred units (24,485) (60,929) 0
Diluted net income attributable to common unitholders and the general partner 158,011 214,812 268,492
Less: diluted net income attributable to the general partner (3,160) (4,296) (5,370)
Diluted net income attributable to common unitholders $ 154,851 $ 210,516 $ 263,122
Diluted net income per common unit (in dollars per share) $ 11.35 $ 13.08 $ 13.39
[1] Net income includes $4.2 million of income attributable to preferred unitholders that accumulated during the period, of which $4.2 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[2] Net income includes $16.7 million of income attributable to preferred unitholders that accumulated during the period, of which $16.4 million is allocated to the common unitholders and $0.3 million is allocated to the general partner.
[3] Net income includes $30.0 million of income attributable to preferred unitholders that accumulated during the period, of which $29.4 million is allocated to the common unitholders and $0.6 million is allocated to the general partner.