Earnings Per Unit

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Unit

(5) Earnings Per Unit

Under the LLC structure, earnings of the Company are to be allocated to unitholders based on their proportionate share of underlying equity. Earnings Per Unit (EPU) has been presented in the accompanying Statements of Operations and in the table that follows.

Basic EPU excludes dilution and is computed by first allocating a portion of USPB’s net income or net loss to Class A units and allocating the remainder to Class B units. For the quarterly and year-to-date periods ended September 30, 2023 and September 24, 2022, respectively, 10% of USPB’s net income was allocated to the Class A units and 90% to the Class B units. The net income allocated to the Class A units and Class B units were then divided by the weighted-average number of Class A units and Class B units outstanding for the period to determine the basic EPU for each respective unit class.

Diluted EPU reflects the potential dilution that could occur if any securities or contracts to issue Class A units or Class B units were exercised. There are no such securities or rights outstanding.

Income Per Unit Calculation	14 weeks ended		13 weeks ended		39 weeks ended
(thousands of dollars, except unit and per unit data)	September 30, 2023		September 24, 2022		September 30, 2023		September 24, 2022
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Basic and diluted earnings per unit:
Income attributable to USPB available to unitholders (numerator)
Class A	$	1,495	$	4,312	$	3,691	$	15,489
Class B	$	13,459	$	38,812	$	33,214	$	139,396
Weighted average outstanding units (denominator)
Class A		735,385		735,385		735,385		735,385
Class B		755,385		755,385		755,385		755,385
Per unit amount
Class A	$	2.03	$	5.86	$	5.02	$	21.06
Class B	$	17.82	$	51.38	$	43.97	$	184.54