| Schedule of Preferred Units |
The key terms of the Preferred Units are summarized as follows:
|
|
|
|
|
|
|
Series A-1 Preferred Units |
| Issuance date |
February and April, 2017 |
| Number of units issued |
9,213 |
| Stated value per unit |
$1,000 |
| Annual dividend rate paid quarterly |
(a) |
| Conversion rate |
27.936 |
| Conversion value per unit |
$35.80 |
| Maximum common unit conversion |
257,375 |
|
|
(a)Series A-1 Preferred Units pay dividends quarterly at an annual rate equal to the greater of (x) 3.50 percent, or (y) the then-effective annual dividend yield on the General Partner’s common stock.
|
| Schedule of Changes In The Value of The Redeemable Noncontrolling Interests |
The following tables set forth the changes in Redeemable noncontrolling interests within the mezzanine section for the three and six months ended June 30, 2024 and 2023, respectively (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series
A-1 Preferred
Units
In VRLP
|
|
|
|
|
| Balance at April 1, 2024 |
|
$ |
9,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Attributed to Noncontrolling Interests |
|
81 |
|
|
|
|
| Distributions |
|
(81) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at June 30, 2024 |
|
$ |
9,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series A and
A-1 Preferred
Units
In VRLP |
|
|
|
|
|
|
| Balance at January 1, 2024 |
|
$ |
24,999 |
|
|
|
|
|
|
| Redemption/Payout |
|
(15,700) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Attributed to Noncontrolling Interests |
|
378 |
|
|
|
|
|
|
| Distributions |
|
(383) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at June 30, 2024 |
|
$ |
9,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series A and
A-1 Preferred
Units
In VRLP |
|
Rockpoint
Interests
in VRT |
|
Total
Redeemable
Noncontrolling
Interests |
| Balance at April 1, 2023 |
|
$ |
40,231 |
|
$ |
479,977 |
|
$ |
520,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Attributed to Noncontrolling Interests |
|
350 |
|
267 |
|
617 |
| Distributions |
|
(350) |
|
|
(267) |
|
|
(617) |
|
| Reclassification to Mandatorily Redeemable Non-controlling Interests |
|
— |
|
(479,977) |
|
(479,977) |
| Balance at June 30, 2023 |
|
$ |
40,231 |
|
$ |
— |
|
$ |
40,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series A and
A-1 Preferred
Units
In VRLP |
|
Rockpoint
Interests
in VRT |
|
Total
Redeemable
Noncontrolling
Interests |
| Balance at January 1, 2023 |
|
$ |
40,231 |
|
$ |
475,000 |
|
$ |
515,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income Attributed to Noncontrolling Interests |
|
700 |
|
6,283 |
|
6,983 |
| Distributions |
|
(700) |
|
|
(6,283) |
|
|
(6,983) |
|
| Redemption Value Adjustment |
|
— |
|
4,977 |
|
4,977 |
| Reclassification to Mandatorily Redeemable Non-controlling Interests |
|
— |
|
(479,977) |
|
(479,977) |
| Balance at June 30, 2023 |
|
$ |
40,231 |
|
$ |
— |
|
$ |
40,231 |
|