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Earnings Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Basic and diluted earnings per unit are calculated by dividing net income attributable to unitholders, adjusted for non-forfeitable distributions paid out to unvested restricted unitholders and preferred shareholders of the Funds, by the weighted average units outstanding during the period. There were no dilutive securities outstanding during the periods presented. The following table shows the calculation of basic and diluted earnings per unit:

 
Quarter Ended 
 March 31,
(in thousands, except per unit amounts)
2020
 
2019
Net and comprehensive income (loss) attributable to Pope Resources’ unitholders
$
(3,941
)
 
$
3,311

Less:
 

 
 

Non-forfeitable distributions paid to unvested restricted unitholders
(35
)
 
(38
)
Preferred share dividends - ORM Timber Funds
(12
)
 
(12
)
Net and comprehensive income (loss) for calculation of earnings per unit
$
(3,988
)
 
$
3,261

 
 
 
 
Basic and diluted weighted average units outstanding
4,330

 
4,325

 
 
 
 
Basic and diluted net earnings (loss) per unit
$
(0.92
)
 
$
0.75