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Note 4 - Common and Preferred Unit Distributions

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Partners' Capital Notes Disclosure [Text Block]

4.    Common and Preferred Unit Distributions

The Partnership makes cash distributions to common unitholders and made cash distributions to preferred unitholders on a quarterly basis, subject to approval by the Board of Directors of GP Natural Resource Partners LLC (the "Board of Directors"). NRP recognizes common unit distributions on the date the distribution is declared. In 2024, the Partnership recognized preferred unit distributions on the date the distribution was declared.

Distributions made on the common units and the general partner's general partner ("GP") interest are made on a pro-rata basis in accordance with their relative percentage interests in the Partnership. The general partner is entitled to receive 2% of such distributions.

Income available to common unitholders and the general partner was reduced by $2.2 million in preferred unit distributions that accumulated during the three months ended March 31, 2024.  

The following table shows the cash distributions declared and paid to common and preferred unitholders during the three months ended March 31, 2025 and 2024, respectively:

				Common Units								Preferred Units
Month Paid		Period Covered by Distribution		Distribution per Unit				Total Distribution (1) (In thousands)				Distribution per Unit				Total Distribution (In thousands)
2025
February		October 1 - December 31, 2024		$	0.75			$	10,055			$	—			$	—
March (2)		Special Distribution			1.21				16,221				—				—
2024
February		October 1 - December 31, 2023		$	0.75			$	9,918			$	30.00			$	2,150
March (3)		Special Distribution			2.44				32,268				—				—

(1)	Totals include the amount paid to NRP's general partner in accordance with the general partner's 2% general partner interest.
(2)	Special distribution was made to help cover unitholder tax liabilities associated with owning NRP's common units during 2024.
(3)	Special distribution was made to help cover unitholder tax liabilities associated with owning NRP's common units during 2023.

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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

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