v3.21.1

PARTNERS' EQUITY

3 Months Ended

Mar. 31, 2021

Partners' Capital Notes [Abstract]

PARTNERS' EQUITY

PARTNERS' EQUITY

Series A, B and C Preferred Units

We allocate net income to our 8.50% Series A, 7.625% Series B and 9.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (collectively, the Series A, B and C Preferred Units) equal to the amount of distributions earned during the period. Distributions on our Series A, B and C Preferred Units are payable out of any legally available funds, accrue and are cumulative from the original issuance dates, and are payable on the 15th day (or next business day) of each of March, June, September and December of each year to holders of record on the first business day of each payment month as follows (until the distribution rate changes to a floating rate):

Units																														Fixed Distribution Rate Per Unit Per Quarter						Fixed Distribution Per Quarter						Date at Which Distribution Rate Becomes Floating
																																				(Thousands of Dollars)
Series A Preferred Units																														$	0.53125					$	4,813					December 15, 2021
Series B Preferred Units																														$	0.47657					$	7,339					June 15, 2022
Series C Preferred Units																														$	0.56250					$	3,881					December 15, 2022

In April 2021, our board of directors declared distributions with respect to the Series A, B and C Preferred Units to be paid on June 15, 2021.

Common Limited Partners

We make quarterly distributions to common unitholders of 100% of our “Available Cash,” generally defined as cash receipts less cash disbursements, including distributions to our preferred units, and cash reserves established by the general partner, in its sole discretion. These quarterly distributions are declared and paid within 45 days subsequent to each quarter-end. The common unitholders receive a distribution each quarter as determined by the board of directors, subject to limitation by the distributions in arrears, if any, on our preferred units.

The following table summarizes information about quarterly cash distributions declared for our common limited partners:

Quarter Ended						Cash Distributions Per Unit						Total Cash Distributions						Record Date						Payment Date
												(Thousands of Dollars)
March 31, 2021						$	0.40					$	43,834					May 10, 2021						May 14, 2021
December 31, 2020						$	0.40					$	43,787					February 8, 2021						February 12, 2021

Accumulated Other Comprehensive Income (Loss)

The balance of and changes in the components included in AOCI were as follows:

			Three Months Ended March 31,
			2021																								2020
			Foreign Currency Translation						Cash Flow Hedges						Pension and Other Postretirement Benefits						Total						Foreign Currency Translation						Cash Flow Hedges						Pension and Other Postretirement Benefits						Total
			(Thousands of Dollars)
Balance as of January 1			$	(42,362)					$	(42,150)					$	(12,144)					$	(96,656)					$	(43,772)					$	(16,124)					$	(8,000)					$	(67,896)
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassification adjustments			957						—						—						957						(6,828)						(29,830)						—						(36,658)
Net gain on pension costs reclassified into other income, net			—						—						(187)						(187)						—						—						(305)						(305)
Net loss on cash flow hedges reclassified into interest expense, net			—						1,348						—						1,348						—						647						—						647
Other			—						—						2						2						—						—						3						3
Other comprehensive income (loss)			957						1,348						(185)						2,120						(6,828)						(29,183)						(302)						(36,313)
Balance as of March 31			$	(41,405)					$	(40,802)					$	(12,329)					$	(94,536)					$	(50,600)					$	(45,307)					$	(8,302)					$	(104,209)

X

- References

No definition available.

+ Details

Name:	us-gaap_PartnersCapitalNotesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

+ Details

Name:	us-gaap_PartnersCapitalNotesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration