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Net Income Per Unit
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Unit

12. Net Income Per Unit

 

For the six-month periods ended June 30, 2024, and 2023 the Partnership excluded the effect of 247,934 and 495,867 non-vested unit awards in calculating dilutive EPU for its common unitholders, as they were anti-dilutive. The non-vested units were participating securities because they received distributions from the Partnership and these distributions did not have to be returned to the Partnership if the non-vested units were forfeited by the grantee.

 

The Partnership’s net income for the six-month periods ended June 30, 2024, and 2023 did not exceed the First Target Distribution Level and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP’s interest in net income.

 

The Two-Class Method was used to calculate EPU as follows:

 

         
  For the six-month periods ended June 30,
BASIC and DILUTED 2024 2023
Numerators    
Partnership’s net income $ 68,080 $ 17,440
Less:        
General Partner’s interest in Partnership’s net income   428   297
Partnership’s net income allocable to unvested units   305   423
Common unit holders’ interest in Partnership’s net income $ 67,347 $ 16,720
Denominators        
Weighted average number of common units outstanding, basic and diluted   54,851,934   19,639,212
Net income per common unit:        
Basic and diluted $ 1.23 $ 0.85