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Equity | 9 Months Ended
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Sep. 30, 2019
Partners' Capital Notes [Abstract] |
Equity | EQUITY The change in ET Common Units during the nine months ended September 30, 2019 was as follows:
| Nine Months Ended September 30, 2019
Number of Common Units, beginning of period | 2,619.4 |
Common Units issued in connection with the distribution reinvestment plan | 7.1 |
Common Units issued under equity incentive plans and other | 0.5 |
Number of Common Units, end of period | 2,627.0 |
ET Equity Distribution Program In March 2017, the Partnership entered into an equity distribution agreement relating to at-the-market offerings of its common units with an aggregate offering price up to $1 billion. As of September 30, 2019, there have been no sales of common units under the equity distribution agreement. ET Repurchase Program During the nine months ended September 30, 2019, ET did not repurchase any ET common units under its current buyback program. As of September 30, 2019, $936 million remained available to repurchase under the current program. ET Distribution Reinvestment Program During the nine months ended September 30, 2019, distributions of $100 million were reinvested under the distribution reinvestment program. As of September 30, 2019, a total of 33 million common units remain available to be issued under the existing registration statement in connection with the distribution reinvestment program. Subsidiary Equity Transactions ETO Preferred Units As of September 30, 2019 and December 31, 2018, ETO’s outstanding preferred units included 950,000 ETO Series A Preferred Units, 550,000 ETO Series B Preferred Units, 18,000,000 ETO Series C Preferred Units and 17,800,000 ETO Series D Preferred Units. As of September 30, 2019, ETO’s outstanding preferred units also included 32,000,000 ETO Series E Preferred Units. ETO Series E Preferred Units Issuance In April 2019, ETO issued 32 million of its 7.600% ETO Series E Preferred Units at a price of $25 per unit, including 4 million ETO Series E Preferred Units pursuant to the underwriters’ exercise of their option to purchase additional preferred units. The total gross proceeds from the ETO Series E Preferred Unit issuance were $800 million, including $100 million from the underwriters’ exercise of their option. The net proceeds were used to repay amounts outstanding under ETO’s Five-Year Credit Facility and for general partnership purposes. Distributions on the ETO Series E Preferred Units will accrue and be cumulative from and including the date of original issue to, but excluding, May 15, 2024, at a rate of 7.600% per annum of the stated liquidation preference of $25. On and after May 15, 2024, distributions on the ETO Series E Preferred Units will accumulate at a percentage of the $25 liquidation preference equal to an annual floating rate of the three-month LIBOR, determined quarterly, plus a spread of 5.161% per annum. The ETO Series E Preferred Units are redeemable at ETO’s option on or after May 15, 2024 at a redemption price of $25 per ETO Series E Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to, but excluding, the date of redemption. Sunoco LP Equity Distribution Program For the nine months ended September 30, 2019, Sunoco LP issued no additional units under its at-the-market equity distribution program. As of September 30, 2019, $295 million of Sunoco LP common units remained available to be issued under the currently effective equity distribution agreement. USAC Class B Conversion On July 30, 2019, the 6,397,965 USAC Class B units held by the Partnership converted into 6,397,965 common units representing limited partner interests in USAC. These common units will participate in any future distributions declared by USAC. USAC Distribution Reinvestment Program During the nine months ended September 30, 2019, distributions of $0.7 million were reinvested under the USAC distribution reinvestment program resulting in the issuance of approximately 44,605 USAC common units. Parent Company Cash Distributions Distributions declared and/or paid subsequent to December 31, 2018 were as follows:
Quarter Ended |  | Record Date |  | Payment Date |  | Rate
December 31, 2018 |  | February 8, 2019 |  | February 19, 2019 |  | $ | 0.3050 |
March 31, 2019 |  | May 7, 2019 |  | May 20, 2019 |  | 0.3050 |
June 30, 2019 |  | August 6, 2019 |  | August 19, 2019 |  | 0.3050 |
September 30, 2019 |  | November 5, 2019 |  | November 19, 2019 |  | 0.3050 |
ETO Cash Distributions Distributions declared and/or paid by ETO subsequent to December 31, 2018 were as follows:
Period Ended |  | Record Date |  | Payment Date |  | Series A (1) |  | Series B (1) |  | Series C |  | Series D |  | Series E (2)
December 31, 2018 |  | February 1, 2019 |  | February 15, 2019 |  | $ | 31.25 |  |  | $ | 33.125 |  |  | $ | 0.4609 |  |  | $ | 0.4766 |  |  | $ | — |
March 31, 2019 |  | May 1, 2019 |  | May 15, 2019 |  | — |  |  | — |  |  | 0.4609 |  |  | 0.4766 |  |  | — |
June 30, 2019 |  | August 1, 2019 |  | August 15, 2019 |  | 31.25 |  |  | 33.125 |  |  | 0.4609 |  |  | 0.4766 |  |  | 0.5806 |
September 30, 2019 |  | November 1, 2019 |  | November 15, 2019 |  | — |  |  | — |  |  | 0.4609 |  |  | 0.4766 |  |  | 0.4750 |
(1) ETO Series A Preferred Unit and ETO Series B Preferred Unit distributions are paid on a semi-annual basis. (2) ETO Series E Preferred Unit distributions related to the period ended June 30, 2019 represent a prorated initial distribution. Sunoco LP Cash Distributions Distributions declared and/or paid by Sunoco LP subsequent to December 31, 2018 were as follows:
Quarter Ended |  | Record Date |  | Payment Date |  | Rate
December 31, 2018 |  | February 6, 2019 |  | February 14, 2019 |  | $ | 0.8255 |
March 31, 2019 |  | May 7, 2019 |  | May 15, 2019 |  | 0.8255 |
June 30, 2019 |  | August 6, 2019 |  | August 14, 2019 |  | 0.8255 |
September 30, 2019 |  | November 5, 2019 |  | November 19, 2019 |  | 0.8255 |
USAC Cash Distributions Distributions declared and/or paid by USAC subsequent to December 31, 2018 were as follows:
Quarter Ended |  | Record Date |  | Payment Date |  | Rate
December 31, 2018 |  | January 28, 2019 |  | February 8, 2019 |  | $ | 0.5250 |
March 31, 2019 |  | April 29, 2019 |  | May 10, 2019 |  | 0.5250 |
June 30, 2019 |  | July 29, 2019 |  | August 9, 2019 |  | 0.5250 |
September 30, 2019 |  | October 28, 2019 |  | November 8, 2019 |  | 0.5250 |
Accumulated Other Comprehensive Income (Loss) The following table presents the components of AOCI, net of tax:
| September 30, 2019 |  | December 31, 2018
Available-for-sale securities | $ | 10 |  |  | $ | 2 |
Foreign currency translation adjustment | (5 | ) |  | (5 | )
Actuarial loss related to pensions and other postretirement benefits | (41 | ) |  | (48 | )
Investments in unconsolidated affiliates, net | (4 | ) |  | 9 |
Total AOCI, net of tax | $ | (40 | ) |  | $ | (42 | )

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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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