v3.25.2
Preferred Units (Tables)
 6 Months Ended
Jun. 30, 2025
Preferred Units and Warrants  
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, 2024180,000 
Exercise and conversion of Preferred Units into common units(100,000)
Number of Preferred Units outstanding, June 30, 202580,000 
The changes in the Preferred Units’ balance were as follows (in thousands):
Preferred Units
Balance as of December 31, 2024$168,809 
Cash distributions on Preferred Units(8,775)
Exercise and conversion of Preferred Units into common units(92,971)
Net income allocated to Preferred Units6,338 
Balance as of June 30, 2025$73,401 
Dividends Declared
We have declared and paid per-unit quarterly cash distributions to the holders of the Preferred Units of record as follows:
Payment DateDistribution per Preferred Unit
February 2, 2024$24.375 
May 3, 202424.375 
August 2, 202424.375 
November 1, 202424.375 
Total 2024 distributions
$97.50 
February 7, 2025$24.375 
May 9, 202524.375 
Total 2025 distributions
$48.75