Earnings Per Limited Partner Unit

6 Months Ended

Mar. 31, 2025

15) Earnings Per Limited Partner Unit

The following table presents the net income allocation and per unit data:


	Three Months Ended				Six Months Ended
Basic and Diluted Earnings Per Limited Partner:	March 31,				March 31,
(in thousands, except per unit data)	2025		2024		2025		2024
Net income	$	85,911	$	68,374	$	118,795	$	81,353
Less General Partner’s interest in net income		802		620		1,109		738
Net income available to limited partners		85,109		67,754		117,686		80,615
Less dilutive impact of theoretical distribution of earnings *		15,482		12,164		20,853		13,752
Limited Partner’s interest in net income	$	69,627	$	55,590	$	96,833	$	66,863
Per unit data:
Basic and diluted net income available to limited partners	$	2.46	$	1.91	$	3.40	$	2.27
Less dilutive impact of theoretical distribution of earnings *		0.45		0.35		0.60		0.39
Limited Partner’s interest in net income	$	2.01	$	1.56	$	2.80	$	1.88
Weighted average number of Limited Partner units outstanding		34,569		35,549		34,578		35,571

* In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per Limited Partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.