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Partners' Capital and Distributions
 12 Months Ended
Dec. 31, 2022
Partners' Capital Notes [Abstract]  
Partners' Capital and Distributions Partners’ Capital and Distributions
Partners’ Capital

Our board authorized the repurchase of up to $1.5 billion of our common units through 2024. The timing, price and actual number of common units repurchased will depend on a number of factors including our expected expansion capital spending needs, excess cash available, balance sheet metrics, legal and regulatory requirements, market conditions and the trading price of our common units. The repurchase program does not obligate us to acquire any particular amount of common units, and the repurchase program may be suspended or discontinued at any time.

The following table details the changes in the number of our common units outstanding from January 1, 2020 through December 31, 2022:
Common units outstanding on January 1, 2020228,403,428
Units repurchased during 2020(5,568,260)
February 2020—Settlement of employee LTIP awards275,093
During 2020—Other(1)
9,550
Common units outstanding on December 31, 2020223,119,811
Units repurchased during 2021(10,894,828)
January 2021—Settlement of employee LTIP awards150,435
During 2021—Other(1)
12,572
Common units outstanding on December 31, 2021212,387,990
Units repurchased during 2022(9,578,502)
January 2022—Settlement of employee LTIP awards200,949
During 2022—Other(1)
23,400
Common units outstanding on December 31, 2022203,033,837
(1)Common units issued to settle the equity-based retainer paid to our independent directors of our board.

Our partnership agreement allows us to issue additional partnership securities for any partnership purpose at any time and from time to time for consideration and on terms and conditions as our general partner determines, all without approval by our unitholders.

Common unitholders have the following rights, among others:
•right to receive distributions of our available cash within 45 days after the end of each quarter;
•right to elect the members of our board;
•right to remove Magellan GP, LLC as our general partner upon a 100% vote of outstanding unitholders;
•right to transfer common unit ownership to substitute common unitholders;
•right to receive an annual report, containing audited financial statements and a report on those financial statements by our independent public accountants, within 120 days after the close of the fiscal year end;
•right to receive information reasonably required for tax reporting purposes within 90 days after the close of the calendar year;
•right to vote according to the unitholder’s percentage interest in us at any meeting that may be called by our general partner; and
•right to inspect our books and records at the unitholder’s own expense.
In the event of liquidation, we would distribute all property and cash in excess of that required to discharge all liabilities to the unitholders in proportion to the positive balances in their respective capital accounts. The common unitholders’ liability is generally limited to their investment.
Distributions

Distributions we paid during 2020, 2021 and 2022 were as follows (in millions, except per unit amounts):
Payment DatePer Unit
 Distribution Amount		Total Distribution
2/14/2020$1.0275 $234.8 
5/15/20201.0275 231.2 
8/14/20201.0275 231.2 
11/13/20201.0275 229.9 
Total$4.1100 $927.1 
2/12/2021$1.0275 $229.4 
5/14/20211.0275 229.0 
8/13/20211.0275 226.6 
11/12/20211.0375 221.4 
Total$4.1200 $906.4 
2/14/2022$1.0375 $220.6 
5/13/20221.0375 219.5 
8/12/20221.0375 215.2 
11/14/20221.0475 214.7 
Total$4.1600 $870.0