XML 26 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Equity and EPS
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Equity and EPS Equity and EPS
The computations of basic and diluted EPS:
Quarter Ended June 30,Year to Date Ended June 30,
2020201920202019
Operations:
Net income(a)
$8,490  $7,911  $18,332  $17,631  
Less: Income attributable to participating securities(b)
57  51  123  117  
Net income attributable to common shareholders$8,433  $7,860  $18,209  $17,514  
Share information:
Basic and diluted weighted average common shares(c)
16,899,079  17,021,599  16,956,502  16,994,864  
Basic and diluted EPS$0.50  $0.46  $1.07  $1.03  

(a)Net income attributable to all shareholders.
(b)Participating securities included 116,127 and 112,865 unvested restricted stock units (“RSUs”), at June 30, 2020 and 2019, respectively.
(c)Under the two-class method, basic and diluted weighted average common shares at June 30, 2020 and 2019, exclude unvested participating securities.

Share Repurchase. On February 25, 2019, MGP's Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019, through February 27, 2022. Under the share repurchase program, the Company can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by the Company at any time without prior notice. During year to date ended June 30, 2020, the Company repurchased approximately 159,104 shares of MGP Common Stock for $4,053, resulting in $20,947 remaining under the share repurchase plan. The shares were repurchased in multiple separate tranches with the final purchase concluding on March 16, 2020.