Earnings Per OP Unit of MAALP (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Diluted Earnings per Common Unit

For the three months ended March 31, 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 March 31,
	2021			2020
Calculation of Earnings per common unit - basic
Net income	$	48,864		$	37,952
Unvested restricted stock (allocation of earnings)		(54	)		(50	)
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	47,888		$	36,980

Weighted average common units - basic		118,318			118,176
Earnings per common unit - basic	$	0.40		$	0.31

Calculation of Earnings per common unit - diluted
Net income	$	48,864		$	37,952
Preferred unit distributions		(922	)		(922	)
Net income available for MAALP common unitholders, adjusted	$	47,942		$	37,030

Weighted average common units - basic		118,318			118,176
Effect of dilutive securities		312			383
Weighted average common units - diluted		118,630			118,559
Earnings per common unit - diluted	$	0.40		$	0.31