Earnings Per OP Unit of MAALP (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Diluted Earnings per Common Unit

For the three months ended March 31, 2024 and 2023, 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,
	2024			2023
Calculation of Earnings per common unit - basic
Net income	$	147,610		$	139,574
Unvested restricted units (allocation of earnings)		(62	)		(60	)
Distributions to MAALP Series I preferred unitholders		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	146,626		$	138,592
Weighted average common units - basic		119,806			119,340
Earnings per common unit - basic	$	1.22		$	1.16
Calculation of Earnings per common unit - diluted
Net income	$	147,610		$	139,574
Distributions to MAALP Series I preferred unitholders		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	146,688		$	138,652
Weighted average common units - basic		119,806			119,340
Effect of dilutive securities		112			220
Weighted average common units - diluted		119,918			119,560
Earnings per common unit - diluted	$	1.22		$	1.16