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DISTRIBUTIONS OF AVAILABLE CASH
12 Months Ended
Dec. 31, 2016
DISTRIBUTIONS OF AVAILABLE CASH  
DISTRIBUTIONS OF AVAILABLE CASH

9.         DISTRIBUTIONS OF AVAILABLE CASH

 

We distribute 100% of our available cash (including any held by MGP) within 50 days after the end of each quarter to unitholders of record. Available cash is generally defined in the partnership agreement as all cash and cash equivalents of AHGP and its direct subsidiaries on hand at the end of each quarter less reserves established by AGP in its reasonable discretion for future cash requirements. These reserves are retained to provide for the conduct of our business, the payment of debt principal and interest and to provide funds for future distributions.

 

Our cash generating assets currently consist entirely of our partnership interests in ARLP, from which we receive quarterly cash distributions.  At December 31, 2016, our assets consisted of the following partnership interests in ARLP: a 1.98% general partner interest in ARLP, which we hold through our 100% ownership interest in MGP; the IDR in ARLP, which we hold through our 100% ownership interest in MGP; 31,088,338 common units of ARLP, representing approximately 41.8% of the common units of ARLP; and a 0.001% managing interest in Alliance Coal which we hold through our 100% ownership interest in MGP.

 

The following table summarizes the quarterly per unit distribution paid during the respective quarter:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

 

    

2016

    

2015

    

2014

 

First Quarter

 

$

0.9600

 

$

0.9150

 

$

0.8275

 

Second Quarter

 

$

0.5500

 

$

0.9375

 

$

0.8475

 

Third Quarter

 

$

0.5500

 

$

0.9600

 

$

0.8700

 

Fourth Quarter

 

$

0.5500

 

$

0.9600

 

$

0.8925

 

 

On January 27, 2017, we declared a quarterly distribution of $0.55 per unit, totaling approximately $32.9 million, which was paid on February 17, 2017, to all unitholders of record on February 10, 2017.