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Note 5 - Net Income Per Common Unit - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
[2]
Mar. 31, 2024
[3]
Sep. 30, 2023
Jun. 30, 2023
[5]
Mar. 31, 2023
[6]
Sep. 30, 2024
Sep. 30, 2023
Net income attributable to common unitholders $ 26,578     $ 42,951     $ 109,896 $ 135,199
Weighted average common units—basic (in shares) 13,049     12,635     12,971 12,613
Basic net income per common unit (in dollars per share) $ 2.04     $ 3.4     $ 8.47 $ 10.72
Plus: dilutive effect of preferred units (in shares) 0     1,104     375 2,434
Plus: dilutive effect of warrants (in shares) 0     1,492     186 1,296
Plus: dilutive effect of unvested unit-based awards (in shares) 222     240     229 190
Weighted average common units—diluted (in shares) 13,271     15,471     13,761 16,533
Net income $ 38,595 [1] $ 46,064 $ 56,213 $ 63,846 [4] $ 70,334 $ 79,275 $ 140,872 $ 213,455
Less: income attributable to preferred unitholders (655)     (786)     (1,148) (2,693)
Less: redemption of preferred units (10,819)     (17,083)     (24,485) (60,929)
Diluted net income attributable to common unitholders and the general partner 27,121     45,977     115,239 149,833
Less: diluted net income attributable to the general partner (543)     (920)     (2,305) (2,997)
Diluted net income attributable to common unitholders $ 26,578     $ 45,057     $ 112,934 $ 146,836
Diluted net income per common unit (in dollars per share) $ 2     $ 2.91     $ 8.21 $ 8.88
[1] Net income includes $0.66 million of income attributable to preferred unitholders that accumulated during the period, of which $0.64 million is allocated to the common unitholders and $0.01 million is allocated to the general partner.
[2] Net income includes $1.44 million of income attributable to preferred unitholders that accumulated during the period, of which $1.41 million is allocated to the common unitholders and $0.03 million is allocated to the general partner.
[3] Net income includes $2.15 million of income attributable to preferred unitholders that accumulated during the period, of which $2.11 million is allocated to the common unitholders and $0.04 million is allocated to the general partner.
[4] Net income includes $2.9 million of income attributable to preferred unitholders that accumulated during the period, of which $2.9 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[5] Net income includes $5.0 million of income attributable to preferred unitholders that accumulated during the period, of which $4.9 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.
[6] Net income includes $6.7 million of income attributable to preferred unitholders that accumulated during the period, of which $6.5 million is allocated to the common unitholders and $0.1 million is allocated to the general partner.