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Partners' Capital and Distributions | 9 Months Ended
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Sep. 30, 2020
Partners' Capital Notes [Abstract] |
Partners' Capital and Distributions | Partners’ Capital and Distributions Units Outstanding The following tables present the activity for our preferred and common units:
| Limited Partners
| Series A Preferred Units |  | Series B Preferred Units |  | Common Units
Outstanding at December 31, 2019 | 71,090,468 |  |  | 800,000 |  |  | 728,028,576 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 24,431 |
Outstanding at March 31, 2020 | 71,090,468 |  |  | 800,000 |  |  | 728,053,007 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 47,391 |
Outstanding at June 30, 2020 | 71,090,468 |  |  | 800,000 |  |  | 728,100,398 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 376,193 |
Outstanding at September 30, 2020 | 71,090,468 |  |  | 800,000 |  |  | 728,476,591 |
| Limited Partners
| Series A Preferred Units |  | Series B Preferred Units |  | Common Units
Outstanding at December 31, 2018 | 71,090,468 |  |  | 800,000 |  |  | 726,361,924 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 423,889 |
Outstanding at March 31, 2019 | 71,090,468 |  |  | 800,000 |  |  | 726,785,813 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 638,806 |
Outstanding at June 30, 2019 | 71,090,468 |  |  | 800,000 |  |  | 727,424,619 |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 603,957 |
Outstanding at September 30, 2019 | 71,090,468 |  |  | 800,000 |  |  | 728,028,576 |
Common Equity Repurchase Program. On November 2, 2020, we announced that the board of directors of PAA GP Holdings LLC has approved a $500 million common equity repurchase program (the “Program”) to be utilized as an additional method of returning capital to investors. The Program authorizes the repurchase from time to time of up to $500 million of PAA common units and/or PAGP Class A shares via open market purchases or negotiated transactions conducted in accordance with applicable regulatory requirements. No time limit has been set for completion of the Program, and the Program may be suspended or discontinued at any time. The Program does not obligate us or PAGP to acquire a particular number of PAA common units or PAGP Class A shares. Any PAA common units or PAGP Class A shares that are repurchased will be canceled. Distributions Series A Preferred Unit Distributions. The following table details distributions to our Series A preferred unitholders paid during or pertaining to the first nine months of 2020 (in millions, except per unit data):
|  | Series A Preferred Unitholders
Distribution Payment Date |  | Cash Distribution |  |  |  |  | Distribution per Unit
November 13, 2020 (1) |  | $ | 37 |  |  |  |  |  | $ | 0.525 |
August 14, 2020 |  | $ | 37 |  |  |  |  |  | $ | 0.525 |
May 15, 2020 |  | $ | 37 |  |  |  |  |  | $ | 0.525 |
February 14, 2020 |  | $ | 37 |  |  |  |  |  | $ | 0.525 |
(1)Payable to unitholders of record at the close of business on October 30, 2020 for the period from July 1, 2020 through September 30, 2020. At September 30, 2020, such amount was accrued as distributions payable in “Other current liabilities” on our Condensed Consolidated Balance Sheet. Series B Preferred Unit Distributions. Distributions on our Series B preferred units are payable semi-annually in arrears on the 15th day of May and November. The following table details distributions paid or to be paid to our Series B preferred unitholders (in millions, except per unit data):
|  | Series B Preferred Unitholders
Distribution Payment Date |  | Cash Distribution |  |  | Distribution per Unit
November 16, 2020 (1) |  | $ | 24.5 |  |  |  | $ | 30.625 |
May 15, 2020 |  | $ | 24.5 |  |  |  | $ | 30.625 |
(1)Payable to unitholders of record at the close of business on November 2, 2020 for the period from May 15, 2020 through November 14, 2020. At September 30, 2020, approximately $18 million of accrued distributions payable to our Series B preferred unitholders was included in “Other current liabilities” on our Condensed Consolidated Balance Sheet. Common Unit Distributions. The following table details distributions to our common unitholders paid during or pertaining to the first nine months of 2020 (in millions, except per unit data):
|  | Distributions |  |  | Cash Distribution per Common Unit
|  | Common Unitholders |  | Total Cash Distribution |  |
Distribution Payment Date |  | Public |  | AAP |  |  |
November 13, 2020 (1) |  | $ | 87 |  |  | $ | 44 |  |  | $ | 131 |  |  |  | $ | 0.18 |
August 14, 2020 |  | $ | 86 |  |  | $ | 45 |  |  | $ | 131 |  |  |  | $ | 0.18 |
May 15, 2020 |  | $ | 86 |  |  | $ | 45 |  |  | $ | 131 |  |  |  | $ | 0.18 |
February 14, 2020 |  | $ | 172 |  |  | $ | 90 |  |  | $ | 262 |  |  |  | $ | 0.36 |
(1)Payable to unitholders of record at the close of business on October 30, 2020 for the period from July 1, 2020 through September 30, 2020. Noncontrolling Interests in Subsidiaries During the nine months ended September 30, 2020, we received $11 million of contributions from noncontrolling interests in Red River Pipeline Company LLC related to the Red River pipeline capacity expansion and paid distributions of $6 million.

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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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