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Net Income Per Common Unit (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Reconciliation of Net Income and Weighted-Average Units Used in Computing Basic and Diluted Net Income Per Common Unit | The following table provides a reconciliation of net income and weighted-average units used in computing basic and diluted net income per common unit for the following periods (in thousands, except unit and per unit amounts):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Distributions paid on common units |  | $ | 19,964 |  |  | $ | 19,925 |  |  | $ | 39,905 |  |  | $ | 39,843 |
Allocation of distributions in excess of net income |  |  | (8,212 | ) |  |  | (6,004 | ) |  |  | (46,350 | ) |  |  | (27,502 | )
Limited partners’ interest in net income (loss) - basic and diluted |  | $ | 11,752 |  |  | $ | 13,921 |  |  | $ | (6,445 | ) |  | $ | 12,341 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common units outstanding - basic |  |  | 38,027,194 |  |  |  | 37,952,950 |  |  |  | 38,010,739 |  |  |  | 37,946,676 |
Adjustment for phantom and phantom performance units (a) |  |  | 172,296 |  |  |  | 197,286 |  |  |  | — |  |  |  | 197,021 |
Weighted-average common units outstanding - diluted |  |  | 38,199,490 |  |  |  | 38,150,236 |  |  |  | 38,010,739 |  |  |  | 38,143,697 |
Net income (loss) per common unit - basic |  | $ | 0.31 |  |  | $ | 0.37 |  |  | $ | (0.17 | ) |  | $ | 0.33 |
Net income (loss) per common unit - diluted |  | $ | 0.31 |  |  | $ | 0.36 |  |  | $ | (0.17 | ) |  | $ | 0.32 |
Distributions paid per common unit |  | $ | 0.5250 |  |  | $ | 0.5250 |  |  | $ | 1.0500 |  |  | $ | 1.0500 |
Distributions declared (with respect to each respective period) per common unit |  | $ | 0.5250 |  |  | $ | 0.5250 |  |  | $ | 1.0500 |  |  | $ | 1.0500 |
(a) For the three and six months ended June 30, 2024 and 2023, respectively, 1,258,247 and 1,151,099 potentially dilutive units related to the preferred membership interests were excluded from the calculation of diluted earnings per unit because including them would have been antidilutive. For the six months ended June 30, 2024, 173,663 potentially dilutive units related to the phantom units and performance units were excluded from the calculation of diluted units because including them would have been antidilutive.
Distributions Made to Limited Partner, by Distribution | Distribution activity for 2024 is as follows:
Quarter Ended |  | Record Date |  | Payment Date |  | Cash Distribution (per unit) |  |  | Cash Distribution (in thousands) |
December 31, 2023 |  | February 2, 2024 |  | February 9, 2024 |  | $ | 0.5250 |  |  | $ | 19,941 |
March 31, 2024 |  | May 3, 2024 |  | May 10, 2024 |  | $ | 0.5250 |  |  | $ | 19,964 |
June 30, 2024 |  | August 2, 2024 |  | August 9, 2024 |  | $ | 0.5250 |  |  | $ | 19,975 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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