| Schedule of Diluted Earnings per Common Unit |
For the three and six months ended June 30, 2026 and 2025, MAALP’s diluted earnings per common unit was computed using the treasury stock method as presented below (dollars and units in thousands, except per unit amounts):
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Calculation of Earnings per common unit - basic |
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Net income |
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$ |
124,818 |
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$ |
110,875 |
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$ |
251,429 |
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$ |
297,281 |
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Net loss attributable to noncontrolling interests |
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— |
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— |
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869 |
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— |
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Unvested restricted units (allocation of earnings) |
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(88 |
) |
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(59 |
) |
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(160 |
) |
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(156 |
) |
Distributions to MAALP Series I preferred unitholders |
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(922 |
) |
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(922 |
) |
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(1,844 |
) |
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(1,844 |
) |
Net income available for MAALP common unitholders, adjusted |
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$ |
123,808 |
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$ |
109,894 |
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$ |
250,294 |
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$ |
295,281 |
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Weighted average common units - basic |
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119,009 |
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119,950 |
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119,284 |
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119,932 |
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Earnings per common unit - basic |
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$ |
1.04 |
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$ |
0.92 |
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$ |
2.10 |
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$ |
2.46 |
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Calculation of Earnings per common unit - diluted |
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Net income |
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$ |
124,818 |
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$ |
110,875 |
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$ |
251,429 |
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$ |
297,281 |
|
Net loss attributable to noncontrolling interests |
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— |
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— |
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|
869 |
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— |
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Distributions to MAALP Series I preferred unitholders |
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(922 |
) |
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(922 |
) |
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(1,844 |
) |
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(1,844 |
) |
Net income available for MAALP common unitholders, adjusted |
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$ |
123,896 |
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$ |
109,953 |
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$ |
250,454 |
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$ |
295,437 |
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Weighted average common units - basic |
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119,009 |
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119,950 |
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119,284 |
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119,932 |
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Effect of dilutive securities |
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65 |
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187 |
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96 |
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241 |
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Weighted average common units - diluted |
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119,074 |
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120,137 |
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119,380 |
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120,173 |
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Earnings per common unit - diluted |
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$ |
1.04 |
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$ |
0.92 |
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$ |
2.10 |
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$ |
2.46 |
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