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PARTNERS' CAPITAL
9 Months Ended
Sep. 30, 2022
PARTNERS' CAPITAL  
PARTNERS' CAPITAL

11.PARTNERS' CAPITAL

Distributions

Distributions paid or declared during 2021 and 2022 were as follows:

Payment Date

    

Per Unit Cash Distribution

 

Total Cash Distribution

 

(in thousands)

May 14, 2021

$

0.1000

$

13,045

August 13, 2021

0.1000

13,041

November 12, 2021

0.2000

26,072

Total

$

0.4000

$

52,158

February 14, 2022

$

0.2500

$

32,750

May 13, 2022

0.3500

45,810

August 12, 2022

0.4000

52,338

November 14, 2022 (1)

0.5000

Total

$

1.5000

$

130,898

(1)On October 28, 2022, we declared this quarterly distribution payable on November 14, 2022 to all unitholders of record as of November 7, 2022.  

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, 2022.  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 nine months ended September 30, 2022 and 2021:

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, 2022

 

127,195,219

$

1,279,183

$

(64,229)

$

11,115

$

1,226,069

Comprehensive income:

Net income

 

 

36,652

 

290

 

 

36,942

Actuarially determined long-term liability adjustments

 

 

 

790

 

 

 

790

Total comprehensive income

 

 

37,732

Common unit-based compensation

 

 

2,640

2,640

Distributions on deferred common unit-based compensation

 

 

(950)

(950)

Distributions from consolidated company to noncontrolling interest

(298)

(298)

Distributions to Partners

 

(31,800)

(31,800)

Balance at March 31, 2022

127,195,219

1,285,725

(63,439)

11,107

1,233,393

Comprehensive income:

Net income

 

 

161,478

 

323

 

 

161,801

Actuarially determined long-term liability adjustments

 

 

 

794

 

 

 

794

Total comprehensive income

 

 

162,595

Common unit-based compensation

 

 

2,340

2,340

Distributions on deferred common unit-based compensation

 

 

(1,292)

(1,292)

Distributions from consolidated company to noncontrolling interest

(325)

(325)

Distributions to Partners

 

(44,518)

(44,518)

Balance at June 30, 2022

127,195,219

$

1,403,733

$

(62,645)

$

11,105

$

1,352,193

Comprehensive income:

Net income

 

 

164,607

 

364

 

 

164,971

Actuarially determined long-term liability adjustments

 

 

 

802

 

 

 

802

Total comprehensive income

 

 

165,773

Common unit-based compensation

 

 

2,677

2,677

Distributions on deferred common unit-based compensation

 

 

(1,461)

(1,461)

Distributions from consolidated company to noncontrolling interest

(485)

(485)

Distributions to Partners

 

(50,877)

(50,877)

Balance at September 30, 2022

 

127,195,219

$

1,518,679

$

(61,843)

$

10,984

$

1,467,820

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 loss

 

 

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

Comprehensive income:

Net income

 

 

57,548

 

176

 

 

57,724

Actuarially determined long-term liability adjustments

 

 

 

2,231

 

 

 

2,231

Total comprehensive income

 

 

59,955

Settlement of deferred compensation plans

(1,090)

(1,090)

Common unit-based compensation

 

 

1,746

1,746

Distributions on deferred common unit-based compensation

 

 

(323)

(323)

Distributions from consolidated company to noncontrolling interest

(252)

(252)

Distributions to Partners

 

(12,718)

(12,718)

Balance at September 30, 2021

 

127,195,219

$

1,251,674

$

(80,981)

$

11,145

$

1,181,838