Net Income Per Common Limited Partner Unit (Tables)

6 Months Ended

Jun. 30, 2025

Net Income Per Common Limited Partner Unit

Schedule of reconciliation of net income (loss) and the assumed allocation of net loss to the common limited partners' interest for purposes of computing net income per common limited partner unit

The following table provides a reconciliation of net income and the assumed allocation of net income to the common limited partners (after deducting amounts allocated to preferred unitholders) for purposes of computing net income per common limited partner unit for the periods presented (in thousands, except per unit data):


	Three Months Ended June 30, 2025								Three Months Ended June 30, 2024
			Common		General						Common		General
			Limited		Partner						Limited		Partner
Numerator:	Total		Partners		Interest		IDRs		Total		Partners		Interest		IDRs
Net income	$	25,210	$	20,595	$	4,615	$	—	$	46,149	$	42,347	$	3,802	$	—
Declared distribution	$	30,146	$	25,497	$	203	$	4,446	$	28,159	$	24,477	$	189	$	3,493
Assumed allocation of undistributed net (loss) income		(4,936)		(4,902)		(34)		—		17,990		17,870		120		—
Assumed allocation of net income	$	25,210	$	20,595	$	169	$	4,446	$	46,149	$	42,347	$	309	$	3,493
Less: Preferred limited partner interest in net income				1,781								2,097
Less: Redemption of Series A preferred limited partner units				—								2,634
Net income attributable to common limited partners			$	18,814							$	37,616
Denominator:
Basic weighted average common units outstanding				33,918								33,910
Dilutive effect of phantom units				177								368
Diluted weighted average common units outstanding				34,095								34,278
Basic net income per common limited partner unit			$	0.55							$	1.11
Diluted net income per common limited partner unit			$	0.55							$	1.10


	Six Months Ended June 30, 2025								Six Months Ended June 30, 2024
			Common		General						Common		General
			Limited		Partner						Limited		Partner
Numerator:	Total		Partners		Interest		IDRs		Total		Partners		Interest		IDRs
Net income	$	43,894	$	34,867	$	9,027	$	—	$	40,547	$	33,609	$	6,938	$	—
Declared distribution	$	59,961	$	50,824	$	404	$	8,733	$	55,655	$	48,614	$	374	$	6,667
Assumed allocation of undistributed net loss		(16,067)		(15,957)		(110)		—		(15,108)		(15,005)		(103)		—
Assumed allocation of net income	$	43,894	$	34,867	$	294	$	8,733	$	40,547	$	33,609	$	271	$	6,667
Less: Preferred limited partner interest in net income				3,562								6,013
Less: Redemption of Series A preferred limited partner units				—								2,634
Net income attributable to common limited partners			$	31,305							$	24,962
Denominator:
Basic weighted average common units outstanding				33,902								33,936
Dilutive effect of phantom units				302								337
Diluted weighted average common units outstanding				34,204								34,273
Basic net income per common limited partner unit			$	0.92							$	0.74
Diluted net income per common limited partner unit			$	0.92							$	0.73