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(Deficit) Equity (Tables)
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of Capital Units
The changes in the number of units outstanding from December 31, 2018 through December 31, 2020 are as follows:
 
(in units)SPLC PreferredPublic
Common
SPLC
Common
General
Partner
Balance as of December 31, 2018— 123,832,233 99,979,548 4,567,588 
June 2019 Acquisition— — 9,477,756 193,424 
Balance as of December 31, 2019— 123,832,233 109,457,304 4,761,012 
April 2020 Acquisition50,782,904 — 160,000,000 (4,761,012)
Balance as of December 31, 202050,782,904 123,832,233 269,457,304 — 
Schedule of Distributions Declared and/or Paid
The following table details the distributions declared and/or paid for the periods presented:
 
Date Paid or to be Paid
Three Months Ended
Public Common
SPLC Preferred
SPLC Common
General Partner
Distributions per Limited Partner Unit
IDRs
2%
Total
(in millions, except per unit amounts)
February 14, 2018December 31, 2017$33 $— $30 $18 $$83 $0.33300 
May 15, 2018March 31, 201843 — 35 26 106 0.34800 
August 14, 2018June 30, 201846 — 36 29 113 0.36500 
November 14, 2018September 30, 201847 — 38 33 121 0.38200 
February 14, 2019December 31, 201849 — 40 37 129 0.40000 
May 15, 2019
March 31, 2019 (1)
51 — 42 23 119 0.41500 
August 14, 2019
June 30, 2019 (1)
53 — 47 28 131 0.43000 
November 14, 2019
September 30, 2019 (1)
56 — 48 33 140 0.44500 
February 14, 2020December 31, 201957 — 50 52 162 0.46000 
May 15, 2020March 31, 202057 — 50 
52 (3)
3 (4)
162 0.46000 
August 14, 2020
June 30, 2020 (2)
57 12 104 — — 173 0.46000 
November 13, 2020
September 30, 2020 (2)
57 12 104 — — 173 0.46000 
February 12, 2021
December 31, 2020 (2)(5)
57 12 104 — — 173 0.46000 
(1) Includes the impact of waived distributions to the holders of IDRs with respect to the Second Amendment as described above.
(2) Includes the impact of waived distributions to SPLC with respect to the April 2020 Transaction as described above.
(3) This amount represents the Final IDR Payment (as defined in the Partnership Interests Restructuring Agreement) to which our general partner (or its assignee) was entitled pursuant to the Partnership Interests Restructuring Agreement. Also pursuant to the Partnership Interests Restructuring Agreement, our general partner agreed (on its own behalf and on behalf of its assignees) to waive any distributions that it would otherwise be entitled to receive with respect to the newly-issued 160 million common units that it received in the April 2020 Transaction for the quarter in which it receives the Final IDR Payment. Our general partner is not entitled to any payments with respect to the IDRs going forward, as they have been cancelled as a part of the April 2020 Transaction.
(4) This amount represents the final distribution payment on the 2% economic general partner interest. Our general partner is not entitled to any payments with respect to the economic general partner interest going forward, as it was converted into a non-economic general partner interest as a part of the April 2020 Transaction.
(5) See Note 16 Subsequent Event(s) for additional information.