Earnings Per OP Unit of MAALP (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of Diluted Earnings per Common Unit

For the three months ended March 31, 2020 and 2019, 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,
	2020			2019
Calculation of Earnings per common unit - basic
Net income	$	37,952		$	65,958
Unvested restricted stock (allocation of earnings)		(50	)		(87	)
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	36,980		$	64,949
Weighted average common units - basic		118,176			117,837
Earnings per common unit - basic	$	0.31		$	0.55
Calculation of Earnings per common unit - diluted
Net income	$	37,952		$	65,958
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	37,030		$	65,036
Weighted average common units - basic		118,176			117,837
Effect of dilutive securities		383			207
Weighted average common units - diluted		118,559			118,044
Earnings per common unit - diluted	$	0.31		$	0.55