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Net Income per Limited Partnership Unit (Tables)
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Reconciliation of Net Income and Weighted-Average Units Used in Computing Basic and Diluted Net Income Per Limited Partner Unit

The following table provides a reconciliation of net income and weighted-average units used in computing basic and diluted net income per limited partner unit for the following periods (in thousands, except unit and per unit amounts):

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

Distributions paid

 

$

19,912

 

 

$

18,111

 

Allocation of distributions in excess of net income

 

 

(23,879

)

 

 

53,817

 

Limited partners’ interest in net income - basic and diluted

 

$

(3,967

)

 

$

71,928

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average limited partnership units outstanding - basic

 

 

37,869,259

 

 

 

35,994,972

 

Adjustment for phantom and phantom performance units (a)

 

 

 

 

 

961

 

Weighted-average limited partnership units outstanding - diluted

 

 

37,869,259

 

 

 

35,995,933

 

Net income per limited partnership unit - basic and diluted

 

$

(0.10

)

 

$

2.00

 

 

 

 

 

 

 

 

 

 

Distributions paid per common unit

 

$

0.5250

 

 

$

0.5250

 

Distributions declared (with respect to each respective period) per common unit

 

$

0.5250

 

 

$

0.5250

 

  

 

(a)

21,871 potentially dilutive common units were not included in the calculation of diluted earnings per common unit for the three months ended March 31, 2021 because to do so would have been antidilutive.

Distributions Made to Limited Partner, by Distribution

Distribution activity for 2021 is as follows:

 

Quarter Ended

 

Record Date

 

Payment Date

 

Cash

Distribution

(per unit)

 

 

Cash

Distribution

(in thousands)

 

December 31, 2020

 

February 2, 2021

 

February 9, 2021

 

$

0.5250

 

 

$

19,912

 

March 31, 2021

 

May 4, 2021

 

May 11, 2021

 

 

0.5250

 

 

 

19,915