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Partners' Capital (Tables)

9 Months Ended

Sep. 30, 2025

Partners' Capital Notes [Abstract]

Summary of quarterly per unit distribution paid


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			0.60			77,776
November 14, 2025 (1)			0.60
Total		$	2.60		$	259,406

(1)	On October 27, 2025, we declared this quarterly distribution payable on November 14, 2025 to all unitholders of record as of November 7, 2025.

Summary of changes to Partners' Capital


							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
Comprehensive income:
Net income		—			95,104			—			1,714			96,818
Other comprehensive income		—			—			(400)			—			(400)
Total comprehensive income														96,418
Common unit-based compensation		—			2,297			—			—			2,297
Distributions on deferred common unit-based compensation		—			(718)			—			—			(718)
Distributions from consolidated company to noncontrolling interest		—			—			—			(2,372)			(2,372)
Distributions to Partners		—			(77,058)			—			—			(77,058)
Balance at September 30, 2025		128,428,024		$	1,836,401		$	(24,039)		$	18,695		$	1,831,057


							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
Comprehensive income:
Net income		—			86,281			—			635			86,916
Actuarially determined long-term liability adjustments		—			—			1,022			—			1,022
Total comprehensive income														87,938
Settlement of deferred compensation plans					(2,252)			—			—			(2,252)
Common unit-based compensation		—			3,032			—			—			3,032
Distributions on deferred common unit-based compensation		—			(1,082)			—			—			(1,082)
Distributions from consolidated company to noncontrolling interest		—			—			—			(1,883)			(1,883)
Distributions to Partners		—			(89,643)			—			—			(89,643)
Other		—			(5,118)			—			—			(5,118)
Balance at September 30, 2024		128,061,981		$	1,961,977		$	(58,623)		$	21,756		$	1,925,110