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PARTNERS' CAPITAL | 3 Months Ended
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Mar. 31, 2024
PARTNERS' CAPITAL |
PARTNERS' CAPITAL | 12.PARTNERS' CAPITAL ​ Distributions ​ Distributions paid or declared during 2023 and 2024 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Payment Date |  | Per Unit Cash Distribution |  | Total Cash Distribution |
​ | ​ | ​ | ​ | ​ | (in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
February 14, 2023 | ​ | $ | 0.7000 | ​ | $ | 91,938 | ​
May 15, 2023 | ​ | ​ | 0.7000 | ​ | ​ | 90,930 | ​
August 14, 2023 | ​ | ​ | 0.7000 | ​ | ​ | 90,899 | ​
November 14, 2023 | ​ | ​ | 0.7000 | ​ | ​ | 90,812 | ​
Total | ​ | $ | 2.8000 | ​ | $ | 364,579 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
February 14, 2024 | ​ | $ | 0.7000 | ​ | $ | 91,246 | ​
May 15, 2024 (1) | ​ | ​ | 0.7000 | ​ | ​ | ​ | ​
Total | ​ | $ | 1.4000 | ​ | $ | 91,246 | ​
(1) | On April 26, 2024, we declared this quarterly distribution payable on May 15, 2024 to all unitholders of record as of May 8, 2024.
​ Unit Repurchase Program ​ In January 2023, the board of directors of MGP authorized a $93.5 million increase to the unit repurchase program authorizing us to be able to repurchase up to a total of $100.0 million of ARLP common units from that date. No units were repurchased during the three months ended March 31, 2024. During the three months ended March 31, 2023, we repurchased and retired 860,060 units at an average unit price of $21.17 for an aggregate purchase price of $18.2 million. Since inception of the unit repurchase program, we have repurchased and retired 6,390,446 units at an average unit price of $17.67 for an aggregate purchase price of $112.9 million. ​ Change in Partners' Capital ​ The following tables present the quarterly change in Partners' Capital for the three months ended March 31, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Limited | ​ | General | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Limited Partner | ​ | Partners' | ​ | Partner's | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total Partners' | ​
​ |  | Units |  | Capital |  | Capital |  | Income (Loss) |  | Interest |  | Capital |
​ | ​ | (in thousands, except unit data) | ​
Balance at January 1, 2024 | ​ | 127,125,437 | ​ | $ | 1,896,027 | ​ | $ | — | ​ | $ | (61,525) | ​ | $ | 24,095 | ​ | $ | 1,858,597 | ​
Cumulative-effect adjustment (see Note 2) | ​ | — | ​ | ​ | 6,232 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,232 | ​
Comprehensive income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | — | ​ |  | 158,057 | ​ |  | — | ​ |  | — | ​ | ​ | 1,510 |  |  | 159,567 | ​
Actuarially determined long-term liability adjustments |  | — | ​ |  | — | ​ |  | — | ​ |  | 923 | ​ |  | — |  |  | 923 | ​
Total comprehensive income |  | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | — |  | ​ | 160,490 | ​
Settlement of deferred compensation plans | ​ | 936,544 | ​ | ​ | (13,292) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (13,292) | ​
Purchase of units under unit repurchase program | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​
Common unit-based compensation |  | — | ​ |  | 2,604 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,604 | ​
Distributions on deferred common unit-based compensation |  | — | ​ |  | (2,261) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,261) | ​
Distributions from consolidated company to noncontrolling interest | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,981) | ​ | ​ | (1,981) | ​
Distributions to Partners |  | — | ​ | ​ | (88,985) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (88,985) | ​
Balance at March 31, 2024 |  | 128,061,981 | ​ | $ | 1,958,382 | ​ | $ | — | ​ | $ | (60,602) | ​ | $ | 23,624 | ​ | $ | 1,921,404 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Limited | ​ | General | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Limited Partner | ​ | Partners' | ​ | Partner's | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total Partners' | ​
​ |  | Units |  | Capital |  | Capital |  | Income (Loss) |  | Interest |  | Capital |
​ | ​ | (in thousands, except unit data) | ​
Balance at January 1, 2023 |  | 127,195,219 | ​ | $ | 1,656,025 | ​ | $ | 66,548 | ​ | $ | (41,054) | ​ | $ | 26,507 | ​ | $ | 1,708,026 | ​
Comprehensive income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | — | ​ |  | 189,801 | ​ |  | 1,384 | ​ |  | — | ​ | ​ | 1,493 |  |  | 192,678 | ​
Actuarially determined long-term liability adjustments |  | — | ​ |  | — | ​ |  | — | ​ |  | 565 | ​ |  | — |  |  | 565 | ​
Total comprehensive income |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | 193,243 | ​
Settlement of deferred compensation plans | ​ | 860,060 | ​ | ​ | (9,320) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (9,320) | ​
Purchase of units under unit repurchase program | ​ | (860,060) | ​ | ​ | (18,209) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (18,209) | ​
Common unit-based compensation |  | — | ​ |  | 2,830 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,830 | ​
Distributions on deferred common unit-based compensation |  | — | ​ |  | (2,901) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,901) | ​
Distributions from consolidated company to affiliate noncontrolling interest | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,288) | ​ | ​ | (2,288) | ​
JC Resources acquisition | ​ | ​ | ​ | ​ | (7,251) | ​ | ​ | (64,999) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (72,250) | ​
Cash retained by JC Resources in acquisition | ​ | — | ​ | ​ | — | ​ | ​ | (2,933) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,933) | ​
Distributions to Partners |  | — | ​ | ​ | (89,037) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (89,037) | ​
Balance at March 31, 2023 |  | 127,195,219 | ​ | $ | 1,721,938 | ​ | $ | — | ​ | $ | (40,489) | ​ | $ | 25,712 | ​ | $ | 1,707,161 | ​
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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 -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent + Details
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