Earnings Per Limited Partner Unit (Tables)

6 Months Ended

Mar. 31, 2021

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)	2021		2020		2021		2020
Net income	$	85,164	$	58,408	$	123,024	$	86,163
Less General Partner’s interest in net income		681		409		977		601
Net income available to limited partners		84,483		57,999		122,047		85,562
Less dilutive impact of theoretical distribution of earnings *		15,457		10,283		21,798		14,631
Limited Partner’s interest in net income	$	69,026	$	47,716	$	100,249	$	70,931
Per unit data:
Basic and diluted net income available to limited partners	$	2.09	$	1.25	$	2.95	$	1.83
Less dilutive impact of theoretical distribution of earnings *		0.38		0.22		0.52		0.31
Limited Partner’s interest in net income	$	1.71	$	1.03	$	2.43	$	1.52
Weighted average number of Limited Partner units outstanding		40,382		46,244		41,324		46,760

*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.