v3.26.1
EARNINGS PER UNIT (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings per Common Unit
The following table sets forth the computation of basic and diluted earnings per common unit:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands, except per unit amounts)
NET INCOME$106,358 $120,028 $119,630 $135,976 
Distributions on Series B cumulative convertible preferred units(7,366)(7,367)(14,732)(14,733)
NET INCOME ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS$98,992 $112,661 $104,898 $121,243 
ALLOCATION OF NET INCOME:
General partner interest$— $— $— $— 
Common units98,992 112,661 104,898 121,243 
$98,992 $112,661 $104,898 $121,243 
NUMERATOR:
Numerator for basic EPU - net income attributable to common unitholders$98,992 $112,661 $104,898 $121,243 
Effect of dilutive securities— 7,367 — — 
Numerator for diluted EPU - net income attributable to common unitholders after the effect of dilutive securities$98,992 $120,028 $104,898 $121,243 
DENOMINATOR:
Denominator for basic EPU - weighted average common units outstanding (basic)212,596 211,689 212,483 211,472 
Effect of dilutive securities
— 15,072 — — 
Denominator for diluted EPU - weighted average number of common units outstanding after the effect of dilutive securities212,596 226,761 212,483 211,472 
NET INCOME ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT:
Per common unit (basic)$0.47 $0.53 $0.49 $0.57 
Per common unit (diluted)$0.47 $0.53 $0.49 $0.57 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following units of potentially dilutive securities were excluded from the computation of diluted weighted average units outstanding because their inclusion would be anti-dilutive:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Potentially dilutive securities (common units):
Series B cumulative convertible preferred units on an as-converted basis
15,072 — 15,072 15,072