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Net Income per Limited Partnership Unit (Tables)
3 Months Ended
Mar. 31, 2022
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,

 

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

Distributions paid

 

$

19,942

 

 

$

19,912

 

Allocation of distributions in excess of net income

 

 

(14,895

)

 

 

(23,879

)

Limited partners’ interest in net income - basic and diluted

 

$

5,047

 

 

$

(3,967

)

Denominator:

 

 

 

 

 

 

Weighted-average common units outstanding - basic

 

 

37,900,146

 

 

 

37,869,259

 

Adjustment for phantom and phantom performance units

 

 

35,893

 

 

 

 

Adjustment for preferred membership interests

 

 

23,402

 

 

 

 

Weighted-average common units outstanding - diluted

 

 

37,959,441

 

 

 

37,869,259

 

Net income per common unit - basic and diluted

 

$

0.13

 

 

$

(0.10

)

 

 

 

 

 

 

 

Distributions paid per common unit

 

$

0.5250

 

 

$

0.5250

 

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

 

$

0.5250

 

 

$

0.5250

 

Distributions Made to Limited Partner, by Distribution

Distribution activity for 2022 is as follows:

Quarter Ended

 

Record Date

 

Payment Date

 

Cash
Distribution
(per unit)

 

 

Cash
Distribution
(in thousands)

 

December 31, 2021

 

February 3, 2022

 

February 10, 2022

 

$

0.5250

 

 

$

19,942

 

March 31, 2022

 

May 3, 2022

 

May 11, 2022

 

 

0.5250

 

 

 

19,951