Net Income Per Common Unit |
NET INCOME PER COMMON UNITThe 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, | | 2023 | | 2022 | | 2023 | | 2022 | Net income | $ | 27,887 | | | $ | 36,428 | | | $ | 111,305 | | | $ | 133,082 | | Net (income) loss attributable to noncontrolling interests in consolidated entities | (2,315) | | | (111) | | | (1,737) | | | (122) | | | | | | | | | | | | | | | | | | Net income attributable to common unitholders | 25,572 | | | 36,317 | | | 109,568 | | | 132,960 | | 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 | $ | 28,655 | | | $ | 39,400 | | | $ | 118,796 | | | $ | 142,188 | | Net income per common unit – basic | | | | | | | | | | | | | | | | | | | | | | | | Net income attributable to common unitholders | $ | 1.20 | | | $ | 1.57 | | | $ | 5.10 | | | $ | 5.85 | | Net income per common unit – diluted | | | | | | | | | | | | | | | | | | | | | | | | Net income attributable to common unitholders | $ | 1.14 | | | $ | 1.45 | | | $ | 4.68 | | | $ | 5.26 | | Denominator for net income per common unit – basic | 21,298,871 | | | 23,147,644 | | | 21,495,689 | | | 22,737,902 | | Effect of dilutive securities: | | | | | | | | Incentive Units | 154,078 | | | 191,080 | | | 153,063 | | | 220,240 | | Unvested restricted common units | 24,341 | | | 104,396 | | | 19,340 | | | 156,494 | | SPLP Preferred Units | 3,603,920 | | | 3,802,650 | | | 3,692,232 | | | 3,923,915 | | Denominator for net income per common unit – diluted | 25,081,210 | | | 27,245,770 | | | 25,360,324 | | | 27,038,551 | |
(a) Assumes the SPLP Preferred Units were redeemed in common units as described in Note 11 - "Capital and Accumulated Other Comprehensive Loss."
|