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Partners' Capital and Distributions | 6 Months Ended
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Jun. 30, 2021
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, 2020 | 71,090,468 |  |  | 800,000 |  |  | 722,380,416 |
Repurchase and cancellation of common units under Common Equity Repurchase Program (1) | — |  |  | — |  |  | (350,000) |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 25,431 |
Outstanding at March 31, 2021 | 71,090,468 |  |  | 800,000 |  |  | 722,055,847 |
Repurchase and cancellation of common units under Common Equity Repurchase Program | — |  |  | — |  |  | (4,940,592) |
Issuances of common units under equity-indexed compensation plans | — |  |  | — |  |  | 256,321 |
Outstanding at June 30, 2021 | 71,090,468 |  |  | 800,000 |  |  | 717,371,576 |
| 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 |
(1)Trades for these units were executed in late December 2020, but settled in early January 2021. Common Equity Repurchase Program We repurchased 5,290,592 common units under our Common Equity Repurchase Program (the “Program”) through open market purchases that settled during the six months ended June 30, 2021. The total purchase price of these repurchases was $53 million, including commissions and fees. The repurchased common units were canceled immediately upon acquisition, as were the PAGP Class C shares held by us associated with the repurchased common units. At June 30, 2021, the remaining available capacity under the Program was $397 million. See Note 12 to our Consolidated Financial Statements included in Part IV of our 2020 Annual Report on Form 10-K for additional information regarding the Program. Distributions Series A Preferred Unit Distributions. The following table details distributions to our Series A preferred unitholders paid during or pertaining to the first six months of 2021 (in millions, except per unit data):
|  | Series A Preferred Unitholders
Distribution Payment Date |  | Cash Distribution |  |  | Distribution per Unit
August 13, 2021 (1) |  | $ | 37 |  |  |  | $ | 0.525 |
May 14, 2021 |  | $ | 37 |  |  |  | $ | 0.525 |
February 12, 2021 |  | $ | 37 |  |  |  | $ | 0.525 |
(1)Payable to unitholders of record at the close of business on July 30, 2021 for the period from April 1, 2021 through June 30, 2021. At June 30, 2021, 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 to our Series B preferred unitholders (in millions, except per unit data):
|  | Series B Preferred Unitholders
Distribution Payment Date |  | Cash Distribution |  |  | Distribution per Unit
May 17, 2021 |  | $ | 24.5 |  |  |  | $ | 30.625 |
At June 30, 2021, approximately $6 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 six months of 2021 (in millions, except per unit data):
|  | Distributions |  |  | Cash Distribution per Common Unit
|  | Common Unitholders |  | Total Cash Distribution |  |
Distribution Payment Date |  | Public |  | AAP |  |  |
August 13, 2021 (1) |  | $ | 85 |  |  | $ | 44 |  |  | $ | 129 |  |  |  | $ | 0.18 |
May 14, 2021 |  | $ | 86 |  |  | $ | 44 |  |  | $ | 130 |  |  |  | $ | 0.18 |
February 12, 2021 |  | $ | 86 |  |  | $ | 44 |  |  | $ | 130 |  |  |  | $ | 0.18 |
(1)Payable to unitholders of record at the close of business on July 30, 2021 for the period from April 1, 2021 through June 30, 2021. Noncontrolling Interests in SubsidiariesDuring the six months ended June 30, 2021, we paid distributions of $6 million to noncontrolling interests in Red River Pipeline Company LLC.

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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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