Equity

9 Months Ended

Sep. 30, 2020

Partners' Capital Notes [Abstract]

Equity

EQUITY

All of our common units are owned by ET.

Preferred Units

As of September 30, 2020 and December 31, 2019, our outstanding preferred units included 950,000 Series A Preferred Units, 550,000 Series B Preferred Units, 18,000,000 Series C Preferred Units, 17,800,000 Series D Preferred Units and 32,000,000 Series E Preferred Units. As of September 30, 2020, our outstanding preferred units also included 500,000 Series F Preferred Units and 1,100,000 Series G Preferred Units.

The following table summarizes changes in the amounts of our Series A, Series B, Series C, Series D, Series E, Series F and Series G preferred units for the nine months ended September 30, 2020:

	Preferred Unitholders
	Series A		Series B		Series C		Series D		Series E		Series F		Series G		Total
Balance, December 31, 2019	$	958	$	556	$	440	$	434	$	786	$	—	$	—	$	3,174
Distributions to partners	(30)		(18)		(8)		(9)		(15)		—		—		(80)
Units issued for cash	—		—		—		—		—		494		1,086		1,580
Other, net	—		—		—		—		—		(1)		(2)		(3)
Net income	15		9		8		9		15		6		15		77
Balance, March 31, 2020	943		547		440		434		786		499		1,099		4,748
Distributions to partners	—		—		(8)		(8)		(15)		(11)		(25)		(67)
Other, net	—		—		—		—		—		(1)		—		(1)
Net income	15		9		8		8		15		9		20		84
Balance, June 30, 2020	958		556		440		434		786		496		1,094		4,764
Distributions to partners	(30)		(18)		(8)		(9)		(15)		—		—		(80)
Net income	15		9		8		9		15		9		19		84
Balance, September 30, 2020	$	943	$	547	$	440	$	434	$	786	$	505	$	1,113	$	4,768

The following table summarizes changes in the amounts of our Series A, Series B, Series C, Series D and Series E preferred units for the nine months ended September 30, 2019:

	Preferred Unitholders
	Series A		Series B		Series C		Series D		Series E		Total
Balance, December 31, 2018	$	958	$	556	$	440	$	434	$	—	$	2,388
Distributions to partners	(30)		(18)		(8)		(8)		—		(64)
Net income	15		9		8		8		—		40
Balance, March 31, 2019	943		547		440		434		—		2,364
Distributions to partners	—		—		(9)		(9)		—		(18)
Units issued for cash	—		—		—		—		780		780
Other, net	—		—		—		—		(1)		(1)
Net income	15		9		9		9		11		53
Balance, June 30, 2019	958		556		440		434		790		3,178
Distributions to partners	(29)		(18)		(8)		(8)		(19)		(82)
Net income	15		9		8		8		15		55
Balance, September 30, 2019	$	944	$	547	$	440	$	434	$	786	$	3,151

Subsidiary Equity Transactions

Sunoco LP Equity Distribution Program

For the nine months ended September 30, 2020, Sunoco LP issued no additional units under its at-the-market equity distribution program. As of September 30, 2020, $295 million of Sunoco LP common units remained available to be issued under the currently effective equity distribution agreement.

USAC Distribution Reinvestment Program

During the nine months ended September 30, 2020, distributions of $1.4 million were reinvested under the USAC distribution reinvestment program resulting in the issuance of approximately 140,318 USAC common units.

Cash Distributions

Distributions on ETO’s preferred units declared and/or paid subsequent to December 31, 2019 were as follows:

Period Ended	Record Date	Payment Date	Series A (1)		Series B (1)		Series C		Series D		Series E	Series F (2)		Series G (2)
December 31, 2019	February 3, 2020	February 18, 2020	$	31.25	$	33.125	$	0.4609	$	0.4766	0.4750	$	—	$	—
March 31, 2020	May 1, 2020	May 15, 2020	—		—		0.4609		0.4766		0.4750	21.19		22.36
June 30, 2020	August 3, 2020	August 17, 2020	31.25		33.125		0.4609		0.4766		0.4750	—		—
September 30, 2020	November 2, 2020	November 16, 2020	—		—		0.4609		0.4766		0.4750	33.75		35.625

(1)    Series A Preferred Unit and Series B Preferred Unit distributions are paid on a semi-annual basis.

(2)    Series F Preferred Unit and Series G Preferred Unit distributions related to the period ended March 31, 2020 represent a prorated initial distribution. Distributions are paid on a semi-annual basis.

Sunoco LP Cash Distributions

Distributions declared and/or paid by Sunoco LP to its common unitholders subsequent to December 31, 2019 were as follows:

Quarter Ended	Record Date	Payment Date	Rate
December 31, 2019	February 7, 2020	February 19, 2020	$	0.8255
March 31, 2020	May 7, 2020	May 19, 2020	0.8255
June 30, 2020	August 7, 2020	August 19, 2020	0.8255
September 30, 2020	November 6, 2020	November 19, 2020	0.8255

USAC Cash Distributions

Distributions declared and/or paid by USAC to its common unitholders subsequent to December 31, 2019 were as follows:

Quarter Ended	Record Date	Payment Date	Rate
December 31, 2019	January 27, 2020	February 7, 2020	$	0.5250
March 31, 2020	April 27, 2020	May 8, 2020	0.5250
June 30, 2020	July 31, 2020	August 10, 2020	0.5250
September 30, 2020	October 26, 2020	November 6, 2020	0.5250

Accumulated Other Comprehensive Income (Loss)

The following table presents the components of AOCI, net of tax:

	September 30, 2020		December 31, 2019
Available-for-sale securities	$	16	$	13
Foreign currency translation adjustment	(14)		(5)
Actuarial loss related to pensions and other postretirement benefits	(10)		(25)
Investments in unconsolidated affiliates, net	(16)		(1)
Subtotal	(24)		(18)
Amounts attributable to noncontrolling interest	20		—
Total AOCI, net of tax	$	(4)	$	(18)