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Equity and Capital (Tables)
12 Months Ended
Dec. 31, 2024
Equity And Capital [Abstract]  
Summary of Terms and Conditions of Preferred Stock Outstanding

Terms and conditions of the preferred stock outstanding are summarized as follows:

 

Preferred Stock Outstanding as of December 31, 2024

 

Date of Issuance

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250%

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875%

 

On demand

 

 

 

 

9,000,000

 

 

$

225,000,000

 

 

 

 

 

 

 

Preferred Stock Outstanding as of December 31, 2023

 

Date of Issuance

 

Shares Issued and Outstanding

 

 

Liquidation Preference

 

 

Distribution Rate

 

Callable By Company

Series A

8/18/2023

 

 

4,600,000

 

 

$

115,000,000

 

 

6.250%

 

On demand

Series B

8/18/2023

 

 

4,400,000

 

 

 

110,000,000

 

 

5.875%

 

On or after 10/1/2024

 

 

 

 

9,000,000

 

 

$

225,000,000

 

 

 

 

 

Schedule of Common Units Outstanding

The Parent Company, as general partner, owned the following Common Units outstanding:

 

 

 

December 31,

 

(in thousands)

 

2024

 

 

2023

 

Common Units owned by the general partner

 

 

181,361

 

 

 

184,581

 

Common Units owned by the limited partners

 

 

1,097

 

 

 

1,108

 

Total Common Units outstanding

 

 

182,458

 

 

 

185,689

 

Percentage of Common Units owned by the general partner

 

 

99.4

%

 

 

99.4

%