v3.25.2
Net Income per Unit
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income per Unit Net Income per Unit
Basic net income per unit is computed by dividing net income by the weighted-average number of outstanding common units. Diluted net income per unit includes the effects of potentially dilutive units on our common units. For the three and six months ended June 30, 2025, and 2024, potentially dilutive units outstanding consist of unvested phantom units.
The calculation of net income per unit is as follows (in thousands, except unit and per unit amounts):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net income$44,574 $41,058 $83,608 $73,706 
Weighted average common units outstanding, basic53,445,803 47,219,184 53,524,792 45,812,770 
Dilutive effect of unvested phantom units27,468 13,323 28,435 16,752 
Weighted average common units outstanding, diluted53,473,271 47,232,507 53,553,227 45,829,522 
Net income per unit:
Basic$0.83 $0.87 $1.56 $1.61 
Diluted (1)
$0.83 $0.87 $1.56 $1.61 
(1) There were 23,647 and 16,862 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three and six months ended June 30, 2025, respectively. There were 46,281 and 30,003 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three and six months ended June 30, 2024, respectively.