Partners' Capital (Tables)

3 Months Ended

Mar. 31, 2020


	Common	Date of
Three months ended	units	issuance
December 31, 2018	787,750	March 8, 2019
March 31, 2019	887,269	May 23, 2019
June 30, 2019	901,741	August 2, 2019

Schedule of Class B preferred units accounted for as mezzanine equity in the consolidated balance sheet

The Class B Preferred Units were accounted for as mezzanine equity on our condensed consolidated balance sheets. The following table sets forth a reconciliation of the changes in mezzanine equity (in thousands):


	December 31,
	2019
Mezzanine equity, beginning balance	$	349,857
Amortization of discount		1,708
Distributions		23,247
Distributions paid		(17,675)
Class B Preferred Unit exchange		(357,137)
Mezzanine equity, ending balance	$	—

Schedule of Class C preferred units

The Exchange was accounted for as an extinguishment with the difference between the book value of the redeemed instrument and the fair value of the new instrument being considered a deemed contribution to common equity of approximately $103.8 million. The Class C Preferred Units are accounted for as a long-term liability on our condensed consolidated balance sheet consisting of the following (in thousands):


	March 31,		December 31,
	2020		2019
Class C Preferred Units, beginning balance	$	281,688	$	—
Private placement of Class C Preferred Units		—		353,500
Discount		—		(104,250)
Amortization of discount		8,693		13,129
Distributions		12,101		19,309
Class C Preferred Units, ending balance	$	302,482	$	281,688