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Partners' Capital | 6 Months Ended
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Jun. 30, 2025
Partners' Capital Notes [Abstract] |
Partners' Capital | 12.PARTNERS’ CAPITAL ​ Distributions ​ Distributions paid or declared during 2024 and 2025 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Payment Date |  | Per Unit Cash Distribution |  | Total Cash Distribution |
​ | ​ | ​ | ​ | ​ | (in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
February 14, 2024 | ​ | $ | 0.70 | ​ | $ | 91,246 | ​
May 15, 2024 | ​ | ​ | 0.70 | ​ | ​ | 90,736 | ​
August 14, 2024 | ​ | ​ | 0.70 | ​ | ​ | 90,725 | ​
November 14, 2024 | ​ | ​ | 0.70 | ​ | ​ | 90,723 | ​
Total | ​ | $ | 2.80 | ​ | $ | 363,430 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
February 14, 2025 | ​ | $ | 0.70 | ​ | $ | 90,891 | ​
May 15, 2025 | ​ | ​ | 0.70 | ​ | ​ | 90,739 | ​
August 14, 2025 (1) | ​ | ​ | 0.60 | ​ | ​ | ​ | ​
Total | ​ | $ | 2.00 | ​ | $ | 181,630 | ​
​
(1) | On July 28, 2025, we declared this quarterly distribution payable on August 14, 2025 to all unitholders of record as of August 7, 2025.
​ Change in Partners’ Capital ​ The following tables present the quarterly change in Partners' Capital for the three and six months ended June 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 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, 2025 |  | 128,061,981 | ​ | $ | 1,867,850 | ​ | $ | (35,103) | ​ | $ | 20,786 | ​ | $ | 1,853,533 | ​
Comprehensive income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | — | ​ |  | 73,983 | ​ |  | — | ​ | ​ | 1,577 |  |  | 75,560 | ​
Other comprehensive income |  | — | ​ |  | — | ​ |  | 270 | ​ |  | — |  |  | 270 | ​
Total comprehensive income |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | 75,830 | ​
Settlement of deferred compensation plans | ​ | 366,043 | ​ | ​ | (7,082) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7,082) | ​
Common unit-based compensation |  | — | ​ |  | 1,964 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,964 | ​
Distributions on deferred common unit-based compensation |  | — | ​ |  | (1,247) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,247) | ​
Distributions from consolidated company to noncontrolling interest | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,894) | ​ | ​ | (1,894) | ​
Distributions to Partners |  | — | ​ | ​ | (89,644) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (89,644) | ​
Balance at March 31, 2025 | ​ | 128,428,024 | ​ | ​ | 1,845,824 | ​ | ​ | (34,833) | ​ | ​ | 20,469 | ​ | ​ | 1,831,460 | ​
Comprehensive income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | — | ​ |  | 59,410 | ​ |  | — | ​ | ​ | 1,615 |  |  | 61,025 | ​
Other comprehensive income |  | — | ​ |  | — | ​ |  | 11,194 | ​ |  | — |  |  | 11,194 | ​
Total comprehensive income |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | 72,219 | ​
Common unit-based compensation |  | — | ​ |  | 2,281 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,281 | ​
Distributions on deferred common unit-based compensation |  | — | ​ |  | (841) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (841) | ​
Distributions from consolidated company to noncontrolling interest | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,731) | ​ | ​ | (2,731) | ​
Distributions to Partners |  | — | ​ | ​ | (89,898) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (89,898) | ​
Balance at June 30, 2025 | ​ | 128,428,024 | ​ | $ | 1,816,776 | ​ | $ | (23,639) | ​ | $ | 19,353 | ​ | $ | 1,812,490 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 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, 2024 |  | 127,125,437 | ​ | $ | 1,896,027 | ​ | $ | (61,525) | ​ | $ | 24,095 | ​ | $ | 1,858,597 | ​
Cumulative-effect adjustment | ​ | — | ​ | ​ | 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) | ​
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 | ​
Comprehensive income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income |  | — | ​ |  | 100,187 | ​ |  | — | ​ | ​ | 1,322 |  |  | 101,509 | ​
Actuarially determined long-term liability adjustments |  | — | ​ |  | — | ​ |  | 957 | ​ |  | — |  |  | 957 | ​
Total comprehensive income |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | 102,466 | ​
Common unit-based compensation |  | — | ​ |  | 2,926 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,926 | ​
Distributions on deferred common unit-based compensation |  | — | ​ |  | (1,091) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,091) | ​
Distributions from consolidated company to noncontrolling interest | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,942) | ​ | ​ | (1,942) | ​
Distributions to Partners |  | — | ​ | ​ | (89,645) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (89,645) | ​
Balance at June 30, 2024 |  | 128,061,981 | ​ | $ | 1,970,759 | ​ | $ | (59,645) | ​ | $ | 23,004 | ​ | $ | 1,934,118 | ​
​

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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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