v3.22.2.2
Net Income Per Limited Partner Unit
9 Months Ended
Sep. 30, 2022
Net Income per Limited Partner Unit [Abstract]  
Net Income Per Limited Partner Unit Net Income Per Limited Partner Unit
Basic net income per unit applicable to the limited partners is calculated as net income attributable to the partners, adjusted for participating securities’ share in earnings, divided by the weighted average limited partners’ units outstanding. Diluted net income per unit assumes, when dilutive, the issuance of the net incremental units from phantom units and performance units. To the extent net income attributable to the partners exceeds or is less than cash distributions, this difference is allocated to the partners based on their weighted-average ownership percentage during the period. Our dilutive securities are immaterial for all periods presented.
Net income per limited partner unit is computed as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
(In thousands, except per unit data)
Net income attributable to the partners$41,951 $49,160 $148,302 $169,302 
Less: Participating securities’ share in earnings(75)(165)(288)(579)
Net income attributable to common units41,876 48,995 148,014 168,723 
Weighted average limited partners' units outstanding126,440 105,440 120,902 105,440 
Limited partners' per unit interest in earnings - basic and diluted$0.33 $0.46 $1.22 $1.60