Net Income per Unit (Tables)

6 Months Ended

Jun. 30, 2025

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,
	2025		2024		2025		2024
Net income	$	44,574	$	41,058	$	83,608	$	73,706
Weighted average common units outstanding, basic	53,445,803		47,219,184		53,524,792		45,812,770
Dilutive effect of unvested phantom units	27,468		13,323		28,435		16,752
Weighted average common units outstanding, diluted	53,473,271		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.