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Earnings Per OP Unit of MAALP (Tables)
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Diluted Earnings per Common Unit

For the three and six months ended June 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 June 30,

 

 

Six months ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Calculation of Earnings per common unit - basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

223,875

 

 

$

77,728

 

 

$

272,739

 

 

$

115,680

 

Unvested restricted stock (allocation of earnings)

 

 

(234

)

 

 

(100

)

 

 

(294

)

 

 

(151

)

Preferred unit distributions

 

 

(922

)

 

 

(922

)

 

 

(1,844

)

 

 

(1,844

)

Net income available for MAALP common unitholders, adjusted

 

$

222,719

 

 

$

76,706

 

 

$

270,601

 

 

$

113,685

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common units - basic

 

 

118,411

 

 

 

118,263

 

 

 

118,365

 

 

 

118,220

 

Earnings per common unit - basic

 

$

1.88

 

 

$

0.65

 

 

$

2.29

 

 

$

0.96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of Earnings per common unit - diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

223,875

 

 

$

77,728

 

 

$

272,739

 

 

$

115,680

 

Preferred unit distributions

 

 

(922

)

 

 

(922

)

 

 

(1,844

)

 

 

(1,844

)

Net income available for MAALP common unitholders, adjusted

 

$

222,953

 

 

$

76,806

 

 

$

270,895

 

 

$

113,836

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common units - basic

 

 

118,411

 

 

 

118,263

 

 

 

118,365

 

 

 

118,220

 

Effect of dilutive securities

 

 

318

 

 

 

234

 

 

 

311

 

 

 

324

 

Weighted average common units - diluted

 

 

118,729

 

 

 

118,497

 

 

 

118,676

 

 

 

118,544

 

Earnings per common unit - diluted

 

$

1.88

 

 

$

0.65

 

 

$

2.28

 

 

$

0.96