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Equity and EPS
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Equity and EPS Equity and EPS
The computations of basic and diluted EPS:
Quarter Ended September 30,Year to Date Ended September 30,
2021202020212020
Operations:
Net income(a)
$23,673 $10,381 $59,159 $28,713 
Less: net loss attributable to noncontrolling interest203 — 279 — 
Less: Income attributable to participating securities(b)
(175)(69)(471)(192)
Net income used in EPS calculation$23,701 $10,312 $58,967 $28,521 
Share information:
Basic and diluted weighted average common shares(c)
21,981,201 16,916,675 20,293,818 16,943,130 
Basic and diluted EPS$1.08 $0.61 $2.91 $1.68 
(a)Net income attributable to all shareholders.
(b)Participating securities included 163,024 and 115,399 unvested restricted stock units (“RSUs”), at September 30, 2021 and 2020, respectively.
(c)Under the two-class method, basic and diluted weighted average common shares at September 30, 2021 and 2020 exclude unvested participating securities.

Share Issuance. On April 1, 2021, as part of the consideration for the Merger, the Company issued 5,007,833 shares of common stock. The shares issued represented approximately 22.8 percent of the Company’s outstanding stock immediately
following the closing of the Merger. In September 2021, the parties finalized the purchase price adjustments, which increased stock consideration by an additional 1,373 shares from the preliminary amounts that were paid at closing.

Share Repurchase. On February 25, 2019, MGP’s Board of Directors approved a $25,000 share repurchase authorization commencing February 27, 2019, through February 27, 2022. Under the share repurchase program, the Company can repurchase stock from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by the Company at any time without prior notice. The Company did not repurchase any shares during the year to date ended September 30, 2021 and has $20,947 remaining under the share repurchase plan.

During the year to date ended September 30, 2020, the Company repurchased approximately 159,104 shares of MGP Common Stock for $4,053.

The Common Stock share activity:
Shares Outstanding
Capital Stock PreferredCommon Stock
Balance, December 31, 2021437 16,915,862 
Issuance of Common Stock— 35,114 
Repurchase of Common Stock (a)
— (10,376)
Balance, March 31, 2021437 16,940,600 
Issuance of Common Stock— 5,022,122 
Repurchase of Common Stock(a)
— (1,489)
Balance, June 30, 2021437 21,961,233 
Issuance of Common Stock— 2,361 
Repurchase of Common Stock(a)
— (20)
Balance, September 30, 2021437 21,963,574 

Shares Outstanding
Capital Stock PreferredCommon Stock
Balance, December 31, 2020437 17,028,125 
Issuance of Common Stock— 36,545 
Repurchase of Common Stock(b)
— (169,148)
Balance, March 31, 2020437 16,895,522 
Issuance of Common Stock— — 
Repurchase of Common Stock(a)
— — 
Balance, June 30, 2020437 16,895,522 
Issuance of Common Stock— 17,798 
Repurchase of Common Stock(a)
— (7)
Balance, September 30, 2020437 16,913,313 
(a)The Common Stock repurchases were for tax withholding on equity based compensation
(b)159,104 shares that were repurchased during the quarter ended March 31, 2020 related to the share repurchase program. The remaining shares repurchased were related to tax withholding on equity based compensation