Earnings Per Limited Partner Unit

6 Months Ended

Mar. 31, 2024

15) Earnings Per Limited Partner Unit

The following table presents the net income allocation and per unit data:


	Three Months Ended				Six Months Ended
Basic and Diluted Earnings Per Limited Partner:	March 31,				March 31,
(in thousands, except per unit data)	2024		2023		2024		2023
Net income	$	68,374	$	62,041	$	81,353	$	75,580
Less General Partner’s interest in net income		620		562		738		684
Net income available to limited partners		67,754		61,479		80,615		74,896
Less dilutive impact of theoretical distribution of earnings *		12,164		10,990		13,752		12,714
Limited Partner’s interest in net income	$	55,590	$	50,489	$	66,863	$	62,182
Per unit data:
Basic and diluted net income available to limited partners	$	1.91	$	1.72	$	2.27	$	2.09
Less dilutive impact of theoretical distribution of earnings *		0.35		0.30		0.39		0.35
Limited Partner’s interest in net income	$	1.56	$	1.42	$	1.88	$	1.74
Weighted average number of Limited Partner units outstanding		35,549		35,653		35,571		35,786

* 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.