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PARTNERS' CAPITAL
6 Months Ended
Jun. 30, 2021
PARTNERS' CAPITAL  
PARTNERS' CAPITAL

10.PARTNERS' CAPITAL

Distributions

Distributions paid or declared during 2020 and 2021 were as follows:

Payment Date

    

Per Unit Cash Distribution

 

Total Cash Distribution

 

(in thousands)

February 14, 2020

$

0.4000

$

51,753

Total

$

0.4000

$

51,753

May 14, 2021

$

0.1000

$

13,045

August 13, 2021 (1)

0.1000

Total

$

0.2000

$

13,045

(1)On July 26, 2021, we declared this quarterly distribution payable on August 13, 2021 to all unitholders of record as of August 6, 2021.  

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 six months ended June 30, 2021.  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. The remaining authorized amount for unit repurchases under this program is $6.5 million.

Change in Partners' Capital

The following tables present the quarterly change in Partners' Capital for the six months ended June 30, 2021 and 2020:

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, 2021

 

127,195,219

$

1,148,565

$

(87,674)

$

11,376

$

1,072,267

Comprehensive income:

Net income

 

 

24,748

 

78

 

 

24,826

Actuarially determined long-term liability adjustments

 

 

 

2,231

 

 

 

2,231

Total comprehensive income

 

 

27,057

Common unit-based compensation

 

 

723

723

Distributions from consolidated company to noncontrolling interest

(141)

(141)

Balance at March 31, 2021

127,195,219

1,174,036

(85,443)

11,313

1,099,906

Comprehensive income:

Net income

 

 

44,035

 

130

 

 

44,165

Actuarially determined long-term liability adjustments

 

 

 

2,231

 

 

 

2,231

Total comprehensive income

 

 

46,396

Common unit-based compensation

 

 

1,485

1,485

Distributions on deferred common unit-based compensation

 

 

(324)

(324)

Distributions from consolidated company to noncontrolling interest

(222)

(222)

Distributions to Partners

 

(12,721)

(12,721)

Balance at June 30, 2021

 

127,195,219

$

1,206,511

$

(83,212)

$

11,221

$

1,134,520

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