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PARTNERS' CAPITAL

9 Months Ended

Sep. 30, 2020

PARTNERS' CAPITAL

PARTNERS' CAPITAL

12.PARTNERS' CAPITAL

Distributions

Distributions paid or declared during 2019 and 2020 were as follows:


Payment Date		Per Unit Cash Distribution			Total Cash Distribution
					(in thousands)

February 14, 2019		$	0.5300		$	69,011
May 15, 2019			0.5350			69,489
August 14, 2019			0.5400			70,153
November 14, 2019			0.5400			69,772
Total		$	2.1450		$	278,425

February 14, 2020		$	0.4000		$	51,753
Total		$	0.4000		$	51,753

In response to the disruptions to the economy and the uncertainty surrounding the COVID-19 pandemic, the Board of Directors of ARLP's general partner began suspending cash distributions to unitholders with the First Quarter and has continued through the quarter ended December 31, 2020.

Unit Repurchase Program

In May 2018, the MGP board of directors approved the establishment of a unit repurchase program authorizing us to repurchase and retire up to $100 million of ARLP common units. The program has no time limit and we may repurchase units from time to time in the open market or in other privately negotiated transactions. The unit repurchase program authorization does not obligate us to repurchase any dollar amount or number of units. No unit repurchases were made during the nine months ended September 30, 2020. Since inception of the unit repurchase program, we have repurchased and retired 5,460,639 units at an average unit price of $17.12 for an aggregate purchase price of $93.5 million. Total units repurchased include the repurchase and retirement of 35 units representing fractional units as part of the simplification transactions completed by the ARLP Partnership on May 31, 2018 which are not part of the unit repurchase program.

Change in Partners' Capital

The following tables present the quarterly change in Partners' Capital for the nine months ended September 30, 2020 and 2019:


							Accumulated
		Number of		Limited			Other
		Limited Partner		Partners'			Comprehensive			Noncontrolling			Total Partners'
		Units		Capital			Income (Loss)			Interest			Capital

		(in thousands, except unit data)
Balance at January 1, 2020		126,915,597		$	1,331,482		$	(77,993)		$	11,935		$	1,265,424
Comprehensive income (loss):
Net income (loss)		—			(144,783)			—			76			(144,707)
Actuarially determined long-term liability adjustments		—			—			938			—			938
Total comprehensive loss														(143,769)
Settlement of deferred compensation plans		279,622			(1,310)			—			—			(1,310)
Common unit-based compensation		—			(527)			—			—			(527)
Distributions on deferred common unit-based compensation		—			(986)			—			—			(986)
Distributions from consolidated company to noncontrolling interest		—			—			—			(288)			(288)
Distributions to Partners		—			(50,767)			—			—			(50,767)
Other		—			(273)			—			—			(273)
Balance at March 31, 2020		127,195,219			1,132,836			(77,055)			11,723			1,067,504
Comprehensive income (loss):
Net loss		—			(46,664)			—			(15)			(46,679)
Actuarially determined long-term liability adjustments		—			—			939			—			939
Total comprehensive loss														(45,740)
Common unit-based compensation		—			1,610			—			—			1,610
Distributions from consolidated company to noncontrolling interest		—			—			—			(222)			(222)
Balance at June 30, 2020		127,195,219			1,087,782			(76,116)			11,486			1,023,152
Comprehensive income:
Net income		—			27,199			—			36			27,235
Actuarially determined long-term liability adjustments		—			—			844			—			844
Total comprehensive income														28,079
Common unit-based compensation		—			1,645			—			—			1,645
Distributions from consolidated company to noncontrolling interest		—			—			—			(93)			(93)
Balance at September 30, 2020		127,195,219		$	1,116,626		$	(75,272)		$	11,429		$	1,052,783


							Accumulated
		Number of		Limited			Other
		Limited Partner		Partners'			Comprehensive			Noncontrolling			Total Partners'
		Units		Capital			Loss			Interest			Capital

		(in thousands, except unit data)
Balance at January 1, 2019		128,095,511		$	1,229,268		$	(46,871)		$	5,290		$	1,187,687
Comprehensive income:
Net income		—			276,428			—			7,176			283,604
Actuarially determined long-term liability adjustments		—			—			(3,584)			—			(3,584)
Total comprehensive income														280,020
Settlement of deferred compensation plans		596,650			(7,817)			—			—			(7,817)
Purchase of units under unit repurchase program		(300,970)			(5,251)			—			—			(5,251)
Common unit-based compensation		—			2,743			—			—			2,743
Distributions on deferred common unit-based compensation		—			(1,280)			—			—			(1,280)
Distributions from consolidated company to noncontrolling interest		—			—			—			(262)			(262)
Distributions to Partners		—			(67,731)			—			—			(67,731)
Balance at March 31, 2019		128,391,191			1,426,360			(50,455)			12,204			1,388,109
Comprehensive income:
Net income		—			58,070			—			114			58,184
Actuarially determined long-term liability adjustments		—			—			(118)			—			(118)
Total comprehensive income														58,066
Common unit-based compensation		—			3,021			—			—			3,021
Distributions on deferred common unit-based compensation		—			(799)			—			—			(799)
Distributions from consolidated company to noncontrolling interest		—			—			—			(228)			(228)
Distributions to Partners		—			(68,690)			—			—			(68,690)
Balance at June 30, 2019		128,391,191			1,417,962			(50,573)			12,090			1,379,479
Comprehensive income:
Net income		—			39,084			—			117			39,201
Actuarially determined long-term liability adjustments		—			—			(119)			—			(119)
Total comprehensive income														39,082
Common unit-based compensation		—			3,066			—			—			3,066
Distributions on deferred common unit-based compensation		—			(822)			—			—			(822)
Distributions from consolidated company to noncontrolling interest		—			—			—			(183)			(183)
Distributions to Partners		—			(69,331)			—			—			(69,331)
Balance at September 30, 2019		128,391,191		$	1,389,959		$	(50,692)		$	12,024		$	1,351,291