XML 38 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Net Income Per Common Unit (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
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, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Distributions paid on common units |  | $ | 20,001 |  |  | $ | 19,964 |  |  | $ | 39,982 |  |  | $ | 39,905 |
Allocation of distributions in excess of net income |  |  | 4,487 |  |  |  | (8,212 | ) |  |  | (23,274 | ) |  |  | (46,350 | )
Limited partners’ interest in net income (loss) - basic |  |  | 24,488 |  |  |  | 11,752 |  |  |  | 16,708 |  |  |  | (6,445 | )
Accretion of preferred membership interests (a) |  |  | 680 |  |  |  | — |  |  |  | — |  |  |  | — |
Limited partners’ interest in net income (loss) - diluted |  | $ | 25,168 |  |  | $ | 11,752 |  |  | $ | 16,708 |  |  | $ | (6,445 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common units outstanding - basic |  |  | 38,097,513 |  |  |  | 38,027,194 |  |  |  | 38,085,815 |  |  |  | 38,010,739 |
Adjustment for phantom and phantom performance units (b) |  |  | 174,674 |  |  |  | 172,296 |  |  |  | 175,093 |  |  |  | — |
Adjustment for preferred membership interests (a) |  |  | 1,273,291 |  |  |  | — |  |  |  | — |  |  |  | — |
Weighted-average common units outstanding - diluted |  |  | 39,545,478 |  |  |  | 38,199,490 |  |  |  | 38,260,908 |  |  |  | 38,010,739 |
Net income (loss) per common unit - basic |  | $ | 0.64 |  |  | $ | 0.31 |  |  | $ | 0.44 |  |  | $ | (0.17 | )
Net income (loss) per common unit - diluted |  | $ | 0.64 |  |  | $ | 0.31 |  |  | $ | 0.44 |  |  | $ | (0.17 | )
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 months ended June 30, 2025, dilutive units related to the preferred membership interests were included in the denominator of the calculation of diluted earnings per unit. Similarly, the accretion of the preferred me mbership interests was added back in the numerator of the calculation as if the preferred membership interests had been converted to common units at the beginning of the period, in which case no accretion would have been recorded. For the six months ended June 30, 2025, 1,273,291 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 three and six months ended June 30, 2024, 1,258,247 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. b) 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 2025 is as follows:
Quarter Ended |  | Record Date |  | Payment Date |  | Cash Distribution (per unit) |  |  | Cash Distribution (in thousands) |
December 31, 2024 |  | February 3, 2025 |  | February 13, 2025 |  | $ | 0.5250 |  |  | $ | 19,981 |
March 31, 2025 |  | May 5, 2025 |  | May 15, 2025 |  |  | 0.5250 |  |  |  | 20,001 |
June 30, 2025 |  | August 4, 2025 |  | August 14, 2025 |  |  | 0.5250 |  |  |  | 20,012 |

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration