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PARTNERS' CAPITAL
9 Months Ended
Sep. 30, 2011
PARTNERS' CAPITAL 
PARTNERS' CAPITAL

NOTE 7. PARTNERS’ CAPITAL

 

The Partnership has two classes of Limited Partners (Class A and B) and one category of General Partner. Under the terms of the Partnership Agreement, distributions to holders of Class B Units and General Partnership Units must represent 19% and 1%, respectively, of the total units outstanding. All classes have equal profit sharing and distribution rights, in proportion to their ownership interests.

 

In 2011, the Partnership approved a quarterly distribution of $7.00 per unit ($0.70 per receipt) payable on March 31, June 30, September 30, and December 31, 2011.

 

In 2010, the Partnership paid quarterly distributions of $7.00 per unit ($0.70 per receipt) in March, June, September and December for a total distribution of $28.00 per unit ($2.80 per receipt.)

 

The Partnership has entered into a deposit agreement with an agent to facilitate public trading of limited partners’ interests in Class A Units. Under the terms of this agreement, the holders of Class A Units have the right to exchange each Class A Unit for 10 Depositary Receipts. The following is information per Depositary Receipt:

 

 

 

Nine Months Ended
September 30,

 

 

 

2011

 

2010

 

Income (loss) per Depositary Receipt before Discontinued Operations

 

$

0.70

 

$

(1.18

)

Income from Discontinued Operations

 

5.93

 

0.13

 

Net Income (loss) per Depositary Receipt after Discontinued Operations

 

$

6.63

 

$

(1.05

)

Distributions per Depositary Receipt

 

$

2.10

 

$

2.10