Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Unit

v3.21.2
Earnings Per Unit
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Unit Earnings Per Unit
Basic net income (loss) per unit (“EPU”) is computed by dividing net income (loss) by the weighted-average number of outstanding Class A units.

The weighted average outstanding Class A units may include potentially dilutive units. At September 30, 2020, 3,927,359 potentially dilutive options were excluded from the calculations of diluted EPU because including them would have had an anti-dilutive effect.

Basic and diluted EPU for the three and nine months ended September 30, 2021 and 2020 were:

Three Months Ended September 30, Nine Months Ended
September 30,
2021 2020 2021 2020
(in thousands, except unit and per unit data)
Numerator:
Net income (loss) $ 7,281  $ (27,042) $ (8,337) $ (72,936)
Denominator:
Weighted average units outstanding - basic 57,168,291 57,168,291 57,168,291 57,168,291
Effect of dilutive options 30,913  —  —  — 
Weighted average units outstanding - diluted 57,199,204 57,168,291 57,168,291 57,168,291
Net income (loss) per unit:
Basic $ 0.13  $ (0.47) $ (0.15) $ (1.28)
Diluted $ 0.13  $ (0.47) $ (0.15) $ (1.28)