XML 74 R55.htm IDEA: XBRL DOCUMENT v3.25.0.1
Partners' Equity, Allocations and Cash Distributions (Tables)
12 Months Ended
Dec. 31, 2024
Schedule of quarterly cash distributions to the unitholders and the General Partner based on target levels

Marginal Percentage

 

Total Quarterly Distribution

Interest in Distributions

 

Target Amount

Unitholders

General Partner

 

First Target Distribution

    

up to $0.4625

    

99.33

%  

0.67

%  

Second Target Distribution

 

above $0.4625 up to $0.5375

 

86.33

%  

13.67

%  

Third Target Distribution

 

above $0.5375 up to $0.6625

 

76.33

%  

23.67

%  

Thereafter

 

above $0.6625

 

51.33

%  

48.67

%  

Common Limited Partners  
Schedule of cash distributions made by the Partnership

The Partnership paid the following cash distributions to common unitholders during 2024, 2023 and 2022 (in thousands, except per unit data):

For the

    

Per Unit

    

    

    

    

 

Cash Distribution

Quarter

Cash

Common

General

Incentive

Total Cash

 

Payment Date

    

Ended

Distribution

Units

Partner

Distribution

Distribution

 

2022

2/14/2022 (1)

12/31/21

$

0.5850

$

19,887

$

141

$

871

$

20,899

5/13/2022 (1)

03/31/22

 

0.5950

 

20,227

 

144

 

973

 

21,344

8/12/2022 (1)

06/30/22

 

0.6050

 

20,567

 

147

 

1,075

 

21,789

11/14/2022 (1)

09/30/22

 

0.6250

 

21,247

 

153

 

1,280

 

22,680

2023

2/14/2023 (2)

12/31/22

$

1.5725

$

53,458

$

569

$

1,383

$

55,410

5/15/2023 (1)

03/31/23

 

0.6550

 

22,267

 

162

 

1,587

 

24,016

8/14/2023 (3)

06/30/23

 

0.6750

 

22,947

 

169

 

2,062

 

25,178

11/14/2023 (3)

09/30/23

 

0.6850

 

23,287

 

174

 

2,380

 

25,841

2024

2/14/2024 (3)

12/31/23

$

0.7000

$

23,797

$

180

$

2,857

$

26,834

5/15/2024 (3)

03/31/24

 

0.7100

 

24,137

 

185

 

3,174

 

27,496

8/14/2024 (3)

06/30/24

 

0.7200

 

24,477

 

189

 

3,493

 

28,159

11/14/2024 (3)

09/30/24

 

0.7300

 

24,817

 

194

 

3,810

 

28,821

(1)This distribution resulted in the Partnership reaching its third target level distribution for the respective quarter. As a result, the General Partner, as the holder of the IDRs, received an incentive distribution.
(2)This distribution consists of a quarterly distribution of $0.6350 per unit and a one-time special distribution of $0.9375 per unit. The quarterly distribution of $0.6350 per unit resulted in the Partnership reaching its third target level distribution for this quarter. As a result, the General Partner, as the holder of the IDRs, received an incentive distribution with respect to the $0.6350 per unit distribution. The General Partner agreed to waive its incentive distribution rights with respect to the special distribution.
(3)This distribution resulted in the Partnership exceeding its third target level distribution for the respective quarter. As a result, the General Partner, as the holder of the IDRs, received an incentive distribution.
Series A Preferred Limited Partners  
Schedule of cash distributions made by the Partnership

The Partnership paid the following cash distributions on the Series A Preferred Units during 2024, 2023 and 2022 (in thousands, except per unit data):

For the

Per Unit

Cash Distribution

Quarterly Period

Cash

Total Cash

 

Payment Date

    

Covering

Distribution

    

Distribution

Rate

 

2022

2/15/2022

11/15/21 - 2/14/22

$

0.609375

$

1,682

9.75%

5/16/2022

2/15/22 - 5/14/22

0.609375

1,682

9.75%

8/15/2022

5/15/22 - 8/14/22

0.609375

1,682

9.75%

11/15/2022

8/15/22 - 11/14/22

0.609375

1,682

9.75%

2023

2/15/2023

11/15/22 - 2/14/23

$

0.609375

$

1,682

9.75%

5/15/2023

2/15/23 - 5/14/23

0.609375

1,682

9.75%

8/15/2023

5/15/23 - 8/14/23

0.609375

1,682

9.75%

11/15/2023

8/15/23 - 11/14/23

0.77501

2,139

12.40%

2024

2/15/2024

11/15/23 - 2/14/24

$

0.77596

$

2,142

10.42%

Series B Preferred Limited Partners  
Schedule of cash distributions made by the Partnership

The Partnership paid the following additional cash distributions on the Series B Preferred Units during 2024, 2023 and 2022 (in thousands, except per unit data):

For the

    

Per Unit

    

 

Cash Distribution

Quarterly Period

Cash

Total Cash

 

Payment Date

    

Covering

    

Distribution

    

Distribution

 

2022

2/15/2022

11/15/21 - 2/14/22

$

0.59375

$

1,781

5/16/2022

2/15/22 - 5/14/22

0.59375

1,781

8/15/2022

5/15/22 - 8/14/22

0.59375

1,781

11/15/2022

8/15/22 - 11/14/22

0.59375

1,781

2023

2/15/2023

11/15/22 - 2/14/23

$

0.59375

$

1,781

5/15/2023

2/15/23 - 5/14/23

0.59375

1,781

8/15/2023

5/15/23 - 8/14/23

0.59375

1,781

11/15/2023

8/15/23 - 11/14/23

0.59375

1,781

2024

2/15/2024

11/15/23 - 2/14/24

$

0.59375

$

1,781

5/15/2024

2/15/24 - 5/14/24

0.59375

1,781

8/15/2024

5/15/24 - 8/14/24

0.59375

1,781

11/15/2024

8/15/24 - 11/14/24

0.59375

1,781