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Subsequent Events | 6 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
Subsequent Events | Note 14. Subsequent Events On July 28, 2021, we announced that the board of directors of our general partner declared a quarterly cash distribution of $0.5042 per Class A share for the quarter ended June 30, 2021. The distribution represents an approximate 11% increase compared to the distribution for the quarter ended March 31, 2021, consisting of a 10% announced increase in addition to a quarterly increase consistent with the Company’s targeted 5% growth in annual distributions per Class A share. The distribution will be payable on August 13, 2021, to shareholders of record as of the close of business on August 9, 2021. Simultaneously, the Partnership will make a distribution of $0.5042 per Class B unit of the Partnership to the Sponsors as holders of an aggregate of 259,516,928 Class B units of the Partnership. On July 28, 2021, we announced that the Partnership agreed to repurchase approximately 31 million Class B units of the Partnership from our Sponsors for an aggregate purchase price of $750.0 million, resulting in public ownership of the Company, on a consolidated basis, increasing to approximately 9.5%. The purchase price per Class B unit is $24.00, representing a n approximate 4% discount to the 30-day volume weighted average trading price of our Class A shares through July 2 7, 2021. The unit repurchase is expected to be completed in August 2021 and funded through debt financing.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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