The Company has a single class of common units. The Company has potentially dilutive securities as of June 30, 2026, which consist of phantom units issued under the Company’s long-term incentive plan. The treasury stock method is used to determine the dilutive impact for the Company’s phantom units. As of June 30, 2026 and 2025, there were 73.3 thousand and 17.7 thousand, respectively, phantom units that were considered antidilutive and thus excluded from the calculation of diluted earnings per common unit.

The following represents the computation of basic and diluted earnings per common unit for the three and six months ended June 30, 2026 (in thousands, except per unit data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income - basic and diluted	$	98,213	$	89,661	$	63,175	$	105,547
Weighted-average common units outstanding - basic	167,544		118,336		167,928		115,248
Effect of dilutive securities	482		53		313		65
Weighted-average common units outstanding - diluted	168,026		118,389		168,241		115,313
Earnings per common unit - basic	$	0.59	$	0.76	$	0.38	$	0.92
Earnings per common unit - diluted	$	0.58	$	0.76	$	0.38	$	0.92