Earnings Per OP Unit of MAALP (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Diluted Earnings per Common Unit

For the three months ended March 31, 2022 and 2021, 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 March 31,
	2022			2021
Calculation of Earnings per common unit - basic
Net income	$	113,577		$	48,864
Net loss attributable to noncontrolling interests		293			—
Unvested restricted units (allocation of earnings)		(79	)		(54	)
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	112,869		$	47,888
Weighted average common units - basic		118,462			118,318
Earnings per common unit - basic	$	0.95		$	0.40
Calculation of Earnings per common unit - diluted
Net income	$	113,577		$	48,864
Net loss attributable to noncontrolling interests		293			—
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	112,948		$	47,942
Weighted average common units - basic		118,462			118,318
Effect of dilutive securities		459			312
Weighted average common units - diluted		118,921			118,630
Earnings per common unit - diluted	$	0.95		$	0.40