Partners' Capital and Distributions (Tables)

3 Months Ended

Mar. 31, 2022

Limited Partners' Capital Account

Schedule of activity for preferred units and common units

The following tables present the activity for our preferred and common units:

	Limited Partners
	Series A Preferred Units	Series B Preferred Units	Common Units
Outstanding at December 31, 2021	71,090,468	800,000	704,991,540
Repurchase and cancellation of common units under the Common Equity Repurchase Program	—	—	(2,375,299)
Issuances of common units under equity-indexed compensation plans	—	—	51,937
Outstanding at March 31, 2022	71,090,468	800,000	702,668,178

 

	Limited Partners
	Series A Preferred Units	Series B Preferred Units	Common Units
Outstanding at December 31, 2020	71,090,468	800,000	722,380,416
Repurchase and cancellation of common units under the Common Equity Repurchase Program	—	—	(350,000)
Issuances of common units under equity-indexed compensation plans	—	—	25,431
Outstanding at March 31, 2021	71,090,468	800,000	722,055,847

Series A Preferred Units

Limited Partners' Capital Account

Schedule of distributions

The following table details distributions to our Series A preferred unitholders paid during or pertaining to the first three months of 2022 (in millions, except per unit data):

	Series A Preferred Unitholders
Distribution Payment Date	Cash Distribution		Distribution per Unit
May 13, 2022 (1)	$	37	$	0.525
February 14, 2022	$	37	$	0.525

(1)Payable to unitholders of record at the close of business on April 29, 2022 for the period from January 1, 2022 through March 31, 2022. At March 31, 2022, such amount was accrued as distributions payable in “Other current liabilities” on our Condensed Consolidated Balance Sheet.

Series B Preferred Units

Limited Partners' Capital Account

Schedule of distributions

The following table details distributions paid to our Series B preferred unitholders (in millions, except per unit data):

	Series B Preferred Unitholders
Distribution Payment Date	Cash Distribution		Distribution per Unit
May 16, 2022 (1)	$	24.5	$	30.625

(1)Payable to unitholders of record at the close of business on May 2, 2022 for the period from November 15, 2021 through May 14, 2022.

Common Units

Limited Partners' Capital Account

Schedule of distributions

The following table details distributions to our common unitholders paid during or pertaining to the first three months of 2022 (in millions, except per unit data):

	Distributions						Cash Distribution per Common Unit
	Common Unitholders				Total Cash Distribution
Distribution Payment Date	Public		AAP
May 13, 2022 (1)	$	100	$	53	$	153	$	0.2175
February 14, 2022	$	84	$	43	$	127	$	0.1800

(1)Payable to unitholders of record at the close of business on April 29, 2022 for the period from January 1, 2022 through March 31, 2022.