Common and Preferred Unit Distributions

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Common and Preferred Unit Distributions

Common and Preferred Unit Distributions

The Partnership makes cash distributions to common and preferred unitholders on a quarterly basis, subject to approval by the Board of Directors. NRP recognizes both common unit and preferred unit distributions on the date the distribution is declared.

Distributions made on the common units and the general partner's general partner ("GP") interest are made on a pro-rata basis in accordance with their relative percentage interests in the Partnership. The general partner is entitled to receive 2% of such distributions.

Income (loss) available to common unitholders and the general partner is reduced by preferred unit distributions that accumulated during the period. NRP reduced net income (loss) available to common unitholders and the general partner by $30.2 million during the year ended December 31, 2020 and $30.0 million during the years ended December 31, 2019 and 2018 as a result of accumulated preferred unit distributions earned during the period. In May 2020, the Partnership paid in kind one-

half of the preferred unit distribution related to the three months ended March 31, 2020. In June 2020, the Partnership redeemed all of the outstanding preferred units paid in kind. Additionally, in November 2020, the Partnership paid in kind one-half of the preferred unit distribution related to the three months ended September 30, 2020. During the three months ended March 31, 2018, the Partnership redeemed all of the outstanding PIK units related to the year ended December 31, 2017, which resulted in an $8.8 million cash payment during the year ended December 31, 2018. This $8.8 million cash payment is not included in the table below.

The following table shows the cash distributions declared and paid to common and preferred unitholders during the years ended December 31, 2020, 2019 and 2018, respectively:

		Common Units				Preferred Units
Date Paid	Period Covered by Distribution	Distribution per Unit		Total Distribution (1) (In thousands)		Distribution per Unit		Total Distribution (In thousands)
2020
February 2020	October 1 - December 31, 2019	$	0.45	$	5,630	$	30.00	$	7,500
May 2020	January 1 - March 31, 2020	—		—		15.00		3,750
June 2020 (2)	January 1 - March 31, 2020	—		—		15.45		3,863
August 2020	April 1 - June 30, 2020	0.45		5,630		30.00		7,500
November 2020	July 1 - September 30, 2020	0.45		5,630		15.00		3,750
2019
February 2019	October 1 - December 31, 2018	$	0.45	$	5,625	$	30.00	$	7,500
May 2019	January 1 - March 31, 2019	0.45		5,630		30.00		7,500
May 2019 (3)	Special Distribution	0.85		10,635		—		—
August 2019	April 1 - June 30, 2019	0.45		5,630		30.00		7,500
November 2019	July 1 - September 30, 2019	0.45		5,630		30.00		7,500
2018
February 2018	October 1 - December 31, 2017	$	0.45	$	5,617	$	30.00	$	7,765
May 2018	January 1 - March 31, 2018	0.45		5,623		30.00		7,500
August 2018	April 1 - June 30, 2018	0.45		5,623		30.00		7,500
November 2018	July 1 - September 30, 2018	0.45		5,623		30.00		7,500

(1)Total common unit distribution includes the amount paid to NRP's general partner in accordance with the general partner's 2% general partner interest.

(2)Redemption of preferred units paid in kind plus accrued interest.

(3)Special distribution was made to cover the common unitholders' tax liability resulting from the sale of NRP's construction aggregates business in December 2018.