15) Earnings Per Limited Partner Unit The following table presents the net income allocation and per unit data:
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Three Months Ended |
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Nine Months Ended |
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Basic and Diluted Earnings Per Limited Partner: |
|
June 30, |
|
June 30, |
|
(in thousands, except per unit data) |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
Net income (loss) |
|
$ |
(27,989 |
) |
$ |
(16,629 |
) |
$ |
116,084 |
|
$ |
102,166 |
|
Less General Partner’s interest in net income (loss) |
|
|
(275 |
) |
|
(157 |
) |
|
1,137 |
|
|
952 |
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Net income (loss) available to limited partners |
|
|
(27,714 |
) |
|
(16,472 |
) |
|
114,947 |
|
|
101,214 |
|
Less dilutive impact of theoretical distribution of earnings * |
|
|
— |
|
|
— |
|
|
19,351 |
|
|
16,739 |
|
Limited Partner’s interest in net income (loss) |
|
$ |
(27,714 |
) |
$ |
(16,472 |
) |
$ |
95,596 |
|
$ |
84,475 |
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Per unit data: |
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Basic and diluted net income (loss) available to limited partners |
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$ |
(0.84 |
) |
$ |
(0.48 |
) |
$ |
3.49 |
|
$ |
2.93 |
|
Less dilutive impact of theoretical distribution of earnings * |
|
|
— |
|
|
— |
|
|
0.59 |
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|
0.48 |
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Limited Partner’s interest in net income (loss) |
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$ |
(0.84 |
) |
$ |
(0.48 |
) |
$ |
2.90 |
|
$ |
2.45 |
|
Weighted average number of Limited Partner units outstanding |
|
|
32,835 |
|
|
34,340 |
|
|
32,935 |
|
|
34,498 |
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* In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per Limited Partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.
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