Earnings Per OP Unit of MAALP (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Diluted Earnings per Common Unit

For the three and nine months ended September 30, 2021 and 2020, MAALP’s diluted earnings per common unit was computed using the treasury stock method as presented below (dollars and units in thousands, except per unit amounts):

	Three months ended September 30,						Nine months ended September 30,
	2021			2020			2021			2020
Calculation of Earnings per common unit - basic
Net income	$	87,047		$	62,036		$	359,786		$	177,716
Unvested restricted stock (allocation of earnings)		(80	)		(78	)		(359	)		(229	)
Preferred unit distributions		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAALP common unitholders, adjusted	$	86,045		$	61,036		$	356,661		$	174,721
Weighted average common units - basic		118,430			118,274			118,389			118,238
Earnings per common unit - basic	$	0.73		$	0.52		$	3.01		$	1.48
Calculation of Earnings per common unit - diluted
Net income	$	87,047		$	62,036		$	359,786		$	177,716
Preferred unit distributions		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAALP common unitholders, adjusted	$	86,125		$	61,114		$	357,020		$	174,950
Weighted average common units - basic		118,430			118,274			118,389			118,238
Effect of dilutive securities		296			252			305			310
Weighted average common units - diluted		118,726			118,526			118,694			118,548
Earnings per common unit - diluted	$	0.73		$	0.52		$	3.01		$	1.48