Net Income Per Common Unit

9 Months Ended

Jun. 24, 2023

Earnings Per Share [Abstract]

Net Income Per Common Unit

9.Net Income Per Common Unit

Computations of basic income per Common Unit are performed by dividing net income by the weighted average number of outstanding Common Units, and vested (and unissued) restricted units granted under the Partnership’s Restricted Unit Plan, as defined below, to retirement-eligible grantees. Computations of diluted income per Common Unit are performed by dividing net income by the weighted average number of outstanding Common Units and unissued restricted units granted under the Restricted Unit Plan. In computing diluted net income per Common Unit, weighted average units outstanding used to compute basic net income per Common Unit were increased by 499,347 and 633,125 units for the nine months ended June 24, 2023 and June 25, 2022, respectively, to reflect the potential dilutive effect of the unvested restricted units outstanding using the treasury stock method. Diluted loss per unit for the three months ended June 24, 2023 and June 25, 2022 does not include unvested Restricted Units (see Note 12) as their effect would be anti-dilutive.