Net Income Per Common Unit (Tables)

9 Months Ended

Sep. 30, 2022

The following data was used in computing net income per common unit shown in the Company's consolidated statements of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net income from continuing operations	$	36,428	$	22,098	$	133,082	$	102,875
Net (income) loss attributable to noncontrolling interests in consolidated entities	(111)		195		(122)		(519)
Net income from continuing operations attributable to common unitholders	36,317		22,293		132,960		102,356
Net gain from discontinued operations, net of taxes	—		7		—		135
Net income attributable to common unitholders	36,317		22,300		132,960		102,491
Effect of dilutive securities:
Interest expense from SPLP Preferred Units (a)	3,083		3,083		9,228		9,228
Net income attributable to common unitholders – assuming dilution	$	39,400	$	25,383	$	142,188	$	111,719
Net income per common unit – basic
Net income from continuing operations	$	1.57	$	1.06	$	5.85	$	4.69
Net income from discontinued operations	—		—		—		0.01
Net income attributable to common unitholders	$	1.57	$	1.06	$	5.85	$	4.70
Net income per common unit – diluted
Net income from continuing operations	$	1.45	$	0.92	$	5.26	$	3.63
Net income from discontinued operations	—		—		—		—
Net income attributable to common unitholders	$	1.45	$	0.92	$	5.26	$	3.63
Denominator for net income per common unit – basic	23,147,644		21,018,615		22,737,902		21,816,833
Effect of dilutive securities:
Incentive Units	191,080		1,099,952		220,240		713,140
Unvested restricted common units	104,396		202,639		156,494		166,803
SPLP Preferred Units	3,802,650		5,351,345		3,923,915		8,018,671
Denominator for net income per common unit – diluted	27,245,770		27,672,551		27,038,551		30,715,447

(a) Assumes the SPLP Preferred Units were redeemed in common units as described in Note 12 - "Capital and Accumulated Other Comprehensive Loss."