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PARTNERS' CAPITAL
9 Months Ended
Sep. 30, 2022
PARTNERS' CAPITAL  
PARTNERS' CAPITAL

11.PARTNERS' CAPITAL

​

Distributions

​

Distributions paid or declared during 2021 and 2022 were as follows:

​

​

​

​

​

​

​

​

​

Payment Date

    

Per Unit Cash Distribution

 

Total Cash Distribution

 

​

​

​

​

​

(in thousands)

​

​

​

​

​

​

​

​

​

May 14, 2021

​

$

0.1000

​

$

13,045

​

August 13, 2021

​

​

0.1000

​

​

13,041

​

November 12, 2021

​

​

0.2000

​

​

26,072

​

Total

​

$

0.4000

​

$

52,158

​

​

​

​

​

​

​

​

​

February 14, 2022

​

$

0.2500

​

$

32,750

​

May 13, 2022

​

​

0.3500

​

​

45,810

​

August 12, 2022

​

​

0.4000

​

​

52,338

​

November 14, 2022 (1)

​

​

0.5000

​

​

—

​

Total

​

$

1.5000

​

$

130,898

​

(1)On October 28, 2022, we declared this quarterly distribution payable on November 14, 2022 to all unitholders of record as of November 7, 2022.  

​

Unit Repurchase Program

​

In May 2018, the MGP board of directors approved the establishment of a unit repurchase program authorizing us to repurchase and retire up to $100 million of ARLP common units.  The program has no time limit and we may repurchase units from time to time in the open market or in other privately negotiated transactions. The unit repurchase program authorization does not obligate us to repurchase any dollar amount or number of units.  No unit repurchases were made during the nine months ended September 30, 2022.  Since inception of the unit repurchase program, we have repurchased and retired 5,460,639 units at an average unit price of $17.12 for an aggregate purchase price of $93.5 million. The remaining authorized amount for unit repurchases under this program is $6.5 million.

​

Change in Partners' Capital

​

The following tables present the quarterly change in Partners' Capital for the nine months ended September 30, 2022 and 2021:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2022

 

127,195,219

​

$

1,279,183

​

$

(64,229)

​

$

11,115

​

$

1,226,069

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

36,652

​

 

—

​

​

290

 

 

36,942

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

790

​

 

—

 

 

790

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

37,732

​

Common unit-based compensation

 

—

​

 

2,640

​

​

—

​

​

—

​

​

2,640

​

Distributions on deferred common unit-based compensation

 

—

​

 

(950)

​

​

—

​

​

—

​

​

(950)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(298)

​

​

(298)

​

Distributions to Partners

 

—

​

​

(31,800)

​

​

—

​

​

—

​

​

(31,800)

​

Balance at March 31, 2022

​

127,195,219

​

​

1,285,725

​

​

(63,439)

​

​

11,107

​

​

1,233,393

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

161,478

​

 

—

​

​

323

 

 

161,801

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

794

​

 

—

 

 

794

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

162,595

​

Common unit-based compensation

 

—

​

 

2,340

​

​

—

​

​

—

​

​

2,340

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,292)

​

​

—

​

​

—

​

​

(1,292)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(325)

​

​

(325)

​

Distributions to Partners

 

—

​

​

(44,518)

​

​

—

​

​

—

​

​

(44,518)

​

Balance at June 30, 2022

​

127,195,219

​

$

1,403,733

​

$

(62,645)

​

$

11,105

​

$

1,352,193

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

164,607

​

 

—

​

​

364

 

 

164,971

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

802

​

 

—

 

 

802

​

Total comprehensive income

 

—

​

​

—

​

​

—

​

​

—

 

​

165,773

​

Common unit-based compensation

 

—

​

 

2,677

​

​

—

​

​

—

​

​

2,677

​

Distributions on deferred common unit-based compensation

 

—

​

 

(1,461)

​

​

—

​

​

—

​

​

(1,461)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(485)

​

​

(485)

​

Distributions to Partners

 

—

​

​

(50,877)

​

​

—

​

​

—

​

​

(50,877)

​

Balance at September 30, 2022

 

127,195,219

​

$

1,518,679

​

$

(61,843)

​

$

10,984

​

$

1,467,820

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

Number of

​

Limited 

​

Other

​

​

​

​

​

​

​

​

​

Limited Partner

​

Partners'

​

Comprehensive

​

Noncontrolling

​

Total Partners'

​

​

    

Units

    

Capital

    

Income (Loss)

    

Interest

    

 Capital

 

​

​

(in thousands, except unit data)

​

Balance at January 1, 2021

 

127,195,219

​

$

1,148,565

​

$

(87,674)

​

$

11,376

​

$

1,072,267

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

24,748

​

 

—

​

​

78

 

 

24,826

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

2,231

​

 

—

 

 

2,231

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

27,057

​

Common unit-based compensation

 

—

​

 

723

​

​

—

​

​

—

​

​

723

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(141)

​

​

(141)

​

Balance at March 31, 2021

 

127,195,219

​

​

1,174,036

​

​

(85,443)

​

​

11,313

​

​

1,099,906

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

44,035

​

 

—

​

​

130

 

 

44,165

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

2,231

​

 

—

 

 

2,231

​

Total comprehensive loss

 

​

​

​

​

​

​

​

​

​

​

 

​

46,396

​

Common unit-based compensation

 

—

​

 

1,485

​

​

—

​

​

—

​

​

1,485

​

Distributions on deferred common unit-based compensation

 

—

​

 

(324)

​

​

—

​

​

—

​

​

(324)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(222)

​

​

(222)

​

Distributions to Partners

 

—

​

​

(12,721)

​

​

—

​

​

—

​

​

(12,721)

​

Balance at June 30, 2021

 

127,195,219

​

​

1,206,511

​

​

(83,212)

​

​

11,221

​

​

1,134,520

​

Comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income

 

—

​

 

57,548

​

 

—

​

​

176

 

 

57,724

​

Actuarially determined long-term liability adjustments

 

—

​

 

—

​

 

2,231

​

 

—

 

 

2,231

​

Total comprehensive income

 

​

​

​

​

​

​

​

​

​

​

 

​

59,955

​

Settlement of deferred compensation plans

​

​

​

​

(1,090)

​

​

—

​

​

—

​

​

(1,090)

​

Common unit-based compensation

 

—

​

 

1,746

​

​

—

​

​

—

​

​

1,746

​

Distributions on deferred common unit-based compensation

 

—

​

 

(323)

​

​

—

​

​

—

​

​

(323)

​

Distributions from consolidated company to noncontrolling interest

​

—

​

​

—

​

​

—

​

​

(252)

​

​

(252)

​

Distributions to Partners

 

—

​

​

(12,718)

​

​

—

​

​

—

​

​

(12,718)

​

Balance at September 30, 2021

 

127,195,219

​

$

1,251,674

​

$

(80,981)

​

$

11,145

​

$

1,181,838

​

​