v3.22.2.2
Partners' Equity
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Partners' Equity PARTNERS’ EQUITY
Changes in partners’ equity are as follows (in thousands):
Limited PartnersGeneral Partner
Total
Common Units-
Public		Common Units-
Green Plains
Balance, December 31, 2021
$135,666 $(133,420)$57 $2,303 
Quarterly cash distributions to unitholders ($0.44 per unit)
(5,122)(5,098)(209)(10,429)
Net income5,083 5,060 207 10,350 
Unit-based compensation, including general partner net contributions59 — — 59 
Balance, March 31, 2022$135,686 $(133,458)$55 $2,283 
Quarterly cash distributions to unitholders ($0.445 per unit)
(5,180)(5,156)(211)(10,547)
Net income5,167 5,142 210 10,519 
Unit-based compensation, including general partner net contributions60 — — 60 
Balance, June 30, 2022$135,733 $(133,472)$54 $2,315 
Quarterly cash distributions to unitholders ($0.45 per unit)
(5,247)(5,214)(213)(10,674)
Net income4,997 4,965 204 10,166 
Unit-based compensation, including general partner net contributions61 — — 61 
Balance, September 30, 2022$135,544 $(133,721)$45 $1,868 
Limited PartnersGeneral Partner
Total
Common Units-
Public		Common Units-
Green Plains
Balance, December 31, 2020
$124,823 $(170,368)$(917)$(46,462)
Quarterly cash distributions to unitholders ($0.12 per unit)
(1,395)(1,390)(57)(2,842)
Net income5,264 5,248 215 10,727 
Ord disposition— 26,419 539 26,958 
Unit-based compensation, including general partner net contributions79 — — 79 
Balance, March 31, 2021$128,771 $(140,091)$(220)$(11,540)
Quarterly cash distributions to unitholders ($0.12 per unit)
(1,395)(1,390)(57)(2,842)
Net income5,054 5,038 206 10,298 
Unit-based compensation, including general partner net contributions80 — — 80 
Balance, June 30, 2021$132,510 $(136,443)$(71)$(4,004)
Quarterly cash distributions to unitholders ($0.12 per unit)
(1,397)(1,390)(57)(2,844)
Net income4,630 4,607 188 9,425 
Unit-based compensation, including general partner net contributions60 — 5 65 
Balance, September 30, 2021$135,803 $(133,226)$65 $2,642 
A roll forward of the number of common limited partner units outstanding is as follows:
Common Units- PublicCommon Units- Green PlainsTotal
Units, December 31, 202111,641,105 11,586,548 23,227,653 
Units issued under the LTIP19,707 — 19,707 
Units surrendered for tax purposes(538)— (538)
Units, September 30, 202211,660,274 11,586,548 23,246,822 
Issuance of Additional Securities
The partnership agreement authorizes the partnership to issue unlimited additional partnership interests on the terms and conditions determined by the general partner without unitholder approval.
Cash Distribution Policy
Quarterly distributions are made from available cash within 45 days after the end of each calendar quarter, assuming the partnership has available cash. Available cash generally means all cash and cash equivalents on hand at the end of that quarter less cash reserves established by the general partner, including those for future capital expenditures, future acquisitions and anticipated future debt service requirements, plus all or any portion of the cash on hand resulting from working capital borrowings made subsequent to the end of that quarter.
The general partner also holds incentive distribution rights that entitle it to receive increasing percentages, up to 48%, of available cash distributed from operating surplus, as defined in the partnership agreement, in excess of $0.46 per unit per quarter. The maximum distribution of 48% does not include any distributions the general partner or its affiliates may receive on its general partner interest or common units.
On February 11, 2022, the partnership distributed $10.4 million to unitholders of record as of February 4, 2022, related to the quarterly cash distribution of $0.44 per unit that was declared on January 20, 2022, for the quarter ended December 31, 2021.
On May 13, 2022, the partnership distributed $10.5 million to unitholders of record as of May 6, 2022, related to the quarterly cash distribution of $0.445 per unit that was declared on April 21, 2022, for the quarter ended March 31, 2022.
On August 12, 2022, the partnership distributed $10.7 million to unitholders of record as of August 5, 2022, related to the quarterly cash distribution of $0.45 per unit that was declared on July 21, 2022, for the quarter ended June 30, 2022.
On October 20, 2022, the board of directors of the general partner declared a quarterly cash distribution of $0.455 per unit, or approximately $10.8 million, for the quarter ended September 30, 2022. The distribution is payable on November 14, 2022, to unitholders of record at the close of business on November 4, 2022.
The total cash distributions declared for the three and nine months ended September 30, 2022 and 2021, are as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
General partner distributions$216 $206 $640 $320 
Limited partner common units - public5,305 5,064 15,733 7,856 
Limited partner common units - Green Plains5,272 5,040 15,642 7,820 
Total distributions to limited partners10,577 10,104 31,375 15,676 
Total distributions declared$10,793 $10,310 $32,015 $15,996