Reminder: APL IDRS, paid to ATLS, partially revert back to APL in the future at $3.75 mm quarter or ~.048 per unit based on current units
".. Our General Partner, holder of all our incentive distribution rights, has agreed to allocate up to $3.75 million of its incentive distribution rights per quarter back to us after the General Partner receives the initial $7.0 million of incentive distribution rights per quarter.)..."
So IDR's went from just under $3 million in first Q to $4.77 in 2nd Q.....There is about a 6 cent range on the IDR give back. APL will likely receive money back from ATLS in the 65 to 70ish cent distribution range. Likely hit within 3 quarters and then be on to a 50/50 split on distributions.