v3.25.1

Preferred Units (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Preferred Units and Warrants |
Dividends Declared | We have declared and paid per-unit quarterly cash distributions to the holders of the Preferred Units of record as follows:
Payment Date |  | Distribution per Preferred Unit
February 2, 2024 |  | $ | 24.375 |
May 3, 2024 |  | 24.375 |
August 2, 2024 |  | 24.375 |
November 1, 2024 |  | 24.375 |
Total 2024 distributions |  | $ | 97.50 |
February 7, 2025 |  | $ | 24.375 |
Changes in the Preferred Units balance | The change in Preferred Units outstanding was as follows:
| Preferred Units Outstanding
Number of Preferred Units outstanding, December 31, 2024 | 180,000 |
Number of Preferred Units outstanding, March 31, 2025 | 180,000 |
Changes in the Preferred Units’ balance are as follows (in thousands):
| Preferred Units
Balance as of December 31, 2024 | $ | 168,809 |
Cash distributions on Preferred Units | (4,388) |
Net income allocated to Preferred Units | 4,388 |
Balance as of March 31, 2025 | $ | 168,809 |

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- Definition Tabular disclosure of preferred units of master limited partnerships that have priority over limited partner units in areas including liquidation, redemption, conversion, tax status of distribution or sharing in distributions. This schedule ordinarily includes a description of the preferred units that details various rights including redemption, conversion, liquidation, and sharing in distributions; capital contributed by preferred partners; number of preferred units authorized to be issued, issued, and outstanding; aggregate cumulative cash distributions made to the preferred partners; aggregate cumulative net income earned by the preferred partners; capital account balance of the preferred partners. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 5 -Subparagraph (SAB Topic 4.F) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-5 + Details
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