Macquarie Infrastructure (MIC) 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-32384
Entity Registrant Name	MACQUARIE INFRASTRUCTURE HOLDINGS, LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-2708886
Entity Address, Address Line One	125 West 55th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	231-1000
Title of 12(b) Security	Common Units
Trading Symbol	MIC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		88,985,352
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001845290
Current Fiscal Year End Date	--12-31

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 37,589	$ 47,259
Restricted cash		1,025	1,051
Accounts receivable, net of allowance for doubtful accounts		27,422	27,824
Inventories		12,175	11,658
Prepaid expenses		7,491	1,813
Fair value of derivative instruments		8,344	909
Other current assets		5,547	2,255
Total current assets		99,593	92,769
Property, equipment, land, and leasehold improvements, net		298,746	297,190
Operating lease assets, net		12,186	12,591
Goodwill		120,193	120,193
Intangible assets, net		4,392	4,498
Fair value of derivative instruments		4,078	470
Other noncurrent assets		8,458	8,740
Total assets		547,646	536,451
Current liabilities:
Due to Manager-related party		274	260
Accounts payable		7,214	6,169
Accrued expenses		13,476	18,449
Current portion of long-term debt		1,118	1,107
Operating lease liabilities - current		1,800	1,794
Other current liabilities		6,820	5,223
Total current liabilities		30,702	33,002
Long-term debt, net of current portion		97,443	97,655
Deferred income taxes		40,236	38,540
Operating lease liabilities - noncurrent		10,365	10,810
Other noncurrent liabilities		53,049	53,062
Total liabilities		231,795	233,069
Commitments and contingencies		0	0
Unitholders’ equity:
Common units paid in capital (500,000,000 authorized; 88,805,519 units issued and outstanding on March 31, 2022 and 88,343,762 units issued and outstanding on December 31, 2021)	[1]	194,494	193,471
Accumulated other comprehensive loss	[1]	(5,106)	(5,106)
Retained earnings	[1]	117,681	106,539
Total unitholders’ equity	[1]	307,069	294,904
Noncontrolling interests		8,782	8,478
Total equity		315,851	303,382
Total liabilities and equity		$ 547,646	$ 536,451
[1]	The Company is authorized to issue 100,000,000 preferred units. On March 31, 2022 and December 31, 2021 , no preferred units were issued or outstanding. The Company had 100 special units issued and outstanding to its Manager on March 31, 2022 and December 31, 2021, respectively.

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Parentheticals) - shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common units, shares authorized (in shares)	500,000,000	500,000,000
Common units, shares issued (in shares)	88,805,519	88,343,762
Common units, shares outstanding (in shares)	88,805,519	88,343,762
Preferred units, shares authorized (in shares)	100,000,000	100,000,000
Preferred units, shares issued (in shares)	0	0
Preferred units, shares outstanding (in shares)	0	0
Special units, shares issued (in shares)	100	100
Special units, shares outstanding (in shares)	100	100

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenue
Product revenue		$ 68,681	$ 54,587
Total revenue		68,681	54,587
Costs and expenses
Cost of product sales		40,004	34,756
Selling, general and administrative		8,381	11,582
Disposition payment to Manager		0	19
Total Selling, general and administrative		8,381	11,601
Fees to Manager - related party		800	5,552
Depreciation		3,675	3,642
Amortization of intangibles		106	106
Total operating expenses		52,966	55,657
Operating income (loss)		15,715	(1,070)
Other income (expense)
Interest income		7	3
Interest expense	[1]	(38)	(7,049)
Other income (expense), net		418	(336)
Net income (loss) from continuing operations before income taxes		16,102	(8,452)
(Provision) benefit for income taxes		(4,656)	2,182
Net income (loss) from continuing operations		11,446	(6,270)
Discontinued Operations
Net income from discontinued operations before income taxes	[2]	0	27,615
Provision for income taxes	[2]	0	(7,548)
Net income from discontinued operations	[2]	0	20,067
Net income		11,446	13,797
Net income (loss) from continuing operations		11,446	(6,270)
Less: net income attributable to noncontrolling interests		304	597
Net income (loss) from continuing operations attributable to MIH		11,142	(6,867)
Net income from discontinued operations	[2]	0	20,067
Net income from discontinued operations attributable to MIH		0	20,067
Net income attributable to MIH		$ 11,142	$ 13,200
Basic income (loss) per unit from continuing operations attributable to MIH (in dollars per shares)		$ 0.13	$ (0.08)
Basic income per unit from discontinued operations attributable to MIH (in dollars per share)		0	0.23
Basic income per unit attributable to MIH (in dollars per share)		$ 0.13	$ 0.15
Weighted average number of units outstanding: basic (in shares)		88,494,560	87,411,455
Diluted income (loss) per unit from continuing operations attributable to MIH (in dollars per share)		$ 0.12	$ (0.08)
Diluted income per unit from discontinued operations attributable to MIH (in dollars per share)		0	0.23
Diluted income per unit attributable to MIH (in dollars per share)		$ 0.12	$ 0.15
Weighted average number of units outstanding: diluted (in shares)		89,860,394	87,411,455
[1]	Interest expense includes non-cash gains on derivative instruments of $489,000 and $283,000 for the quarters ended March 31, 2022 and 2021, respectively.
[2]	See Note 4, “Discontinued Operations and Dispositions”, for further discussions on businesses classified as held for sale.

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Gain (loss) on derivative instruments	$ 13,417	$ 1,909
Interest Expense
Gain (loss) on derivative instruments	$ 489	$ 283

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF UNITHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	[2]	Manager	Total Unitholders’ Equity	Total Unitholders’ EquityCumulative Effect, Period of Adoption, Adjustment	[2]	Total Unitholders’ EquityManager	Special Units	Common Units		Common UnitsManager	Common Units Paid In Capital	Common Units Paid In CapitalCumulative Effect, Period of Adoption, Adjustment	[2]	Common Units Paid In CapitalManager	Accumulated Other Comprehensive Loss	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	[2]	Noncontrolling Interests
Beginning balance, special units (in shares) at Dec. 31, 2020										100
Beginning balance, common units (in shares) at Dec. 31, 2020	[1]										87,361,929
Beginning balance at Dec. 31, 2020		$ 893,306	$ (7,159)			$ 885,016	$ (7,159)							$ 178,062	$ (14,121)			$ (6,175)	$ 713,129	$ 6,962		$ 8,290
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of units to Manager (in shares)	[1]												142,936
Issuance of units to Manager					$ 4,650				$ 4,650								$ 4,650
Unit vested under compensation plans (in shares)	[1],[3]										952
Unit withheld for taxes on vested stock (in shares)	[1],[3]										(365)
Unit-based compensation expense		2,175				2,175								2,175
Comprehensive income, net of taxes		13,797				13,200													13,200			597
Ending balance, special units (in shares) at Mar. 31, 2021										100
Ending balance, common units (in shares) at Mar. 31, 2021	[1]										87,505,452
Ending balance at Mar. 31, 2021		$ 906,769				897,882								170,766				(6,175)	733,291			8,887
Beginning balance, special units (in shares) at Dec. 31, 2021		100								100
Beginning balance, common units (in shares) at Dec. 31, 2021		88,343,762									88,343,762	[1]
Beginning balance at Dec. 31, 2021		$ 303,382				294,904								193,471				(5,106)	106,539			8,478
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of units to Manager (in shares)	[1]												217,696
Issuance of units to Manager					$ 787				$ 787								$ 787
Unit vested under compensation plans (in shares)	[1],[3]										356,124
Unit withheld for taxes on vested stock (in shares)	[1],[3]										(112,063)
Unit-based compensation expense		236				236								236
Comprehensive income, net of taxes		$ 11,446				11,142													11,142			304
Ending balance, special units (in shares) at Mar. 31, 2022		100								100
Ending balance, common units (in shares) at Mar. 31, 2022		88,805,519									88,805,519	[1]
Ending balance at Mar. 31, 2022		$ 315,851				$ 307,069								$ 194,494				$ (5,106)	$ 117,681			$ 8,782
[1]	The Company is authorized to issue 500,000,000 common units.
[2]	On January 1, 2021, the Company adopted ASU No. 2020-06, Debt - Debt with Conversion and Other Options, using the modified retrospective method and made an adjustment to the beginning balance to Retained Earnings of $7.0 million, net of taxes. See Note 8, “Long-Term Debt”, for further discussions.
[3]	Units vested and issued under the 2016 Omnibus Employee Incentive Plan and 2014 Independent Directors' Equity Plan. Under the 2016 Omnibus Employee Incentive Plan, units are withheld for the employee portion of taxes on vested awards and are available for future grants. See Note 10, "Unitholders' Equity", for further discussions.

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF UNITHOLDERS' EQUITY (Unaudited) (Parentheticals) - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Common units, shares authorized (in shares)		500,000,000	500,000,000
Balance as of period date		$ 315,851	$ 303,382	$ 906,769	$ 893,306
Retained Earnings
Balance as of period date		$ 117,681	$ 106,539	$ 733,291	713,129
Cumulative Effect, Period of Adoption, Adjustment
Balance as of period date	[1]				(7,159)
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Balance as of period date	[1]				$ 6,962
[1]	On January 1, 2021, the Company adopted ASU No. 2020-06, Debt - Debt with Conversion and Other Options, using the modified retrospective method and made an adjustment to the beginning balance to Retained Earnings of $7.0 million, net of taxes. See Note 8, “Long-Term Debt”, for further discussions.

CONSOLIDATED CONDENSED STATEM_5

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income (loss) from continuing operations	$ 11,446	$ (6,270)
Adjustments to reconcile net income (loss) to net cash used in operating activities from continuing operations:
Depreciation	3,675	3,642
Amortization of intangibles	106	106
Amortization of debt financing costs	73	4,084
Adjustments to derivative instruments	(11,164)	(1,459)
Fees to Manager - related party	800	5,552
Deferred taxes	1,696	(334)
Other non-cash expense, net	389	1,133
Changes in other assets and liabilities, net of acquisitions:
Accounts receivable	192	(1,897)
Inventories	(347)	(1,497)
Prepaid expenses and other current assets	(9,058)	(2,653)
Accounts payable and accrued expenses	(4,068)	(7,507)
Income taxes payable	2,878	(2,332)
Other, net	(1,149)	(3,510)
Net cash used in operating activities from continuing operations	(4,531)	(12,942)
Investing activities
Purchases of property and equipment	(5,033)	(3,339)
Other, net	142	15
Net cash used in investing activities from continuing operations	(4,891)	(3,324)
Financing activities
Payment of long-term debt	(274)	(358,843)
Distributions paid to common unitholders	0	(960,981)
Net cash used in financing activities from continuing operations	(274)	(1,319,824)
Net change in cash, cash equivalents, and restricted cash from continuing operations	(9,696)	(1,336,090)
Cash flows provided by (used in) discontinued operations:
Net cash provided by operating activities	0	52,935
Net cash used in investing activities	0	(12,515)
Net cash used in financing activities	0	(2,562)
Net cash provided by discontinued operations	0	37,858
Net change in cash, cash equivalents, and restricted cash	(9,696)	(1,298,232)
Cash, cash equivalents, and restricted cash, beginning of period	48,310	1,839,220
Cash, cash equivalents, and restricted cash, end of period	38,614	540,988
Continuing Operations
Non-cash investing and financing activities:
Accrued purchases of property and equipment	743	237
Taxes paid (received), net	0	(755)
Interest paid, net	471	6,761
Discontinued Operations
Non-cash investing and financing activities:
Accrued purchases of property and equipment	0	3,665
Leased assets obtained in exchange for new operating lease liabilities	0	787
Taxes paid (received), net	0	1,415
Interest paid, net	$ 0	$ 9,809

CONSOLIDATED CONDENSED STATEM_6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 37,589	$ 192,842
Restricted cash - current	1,025	1,085
Cash, cash equivalents, and restricted cash included in assets held for sale	0	347,061
Total of cash, cash equivalents, and restricted cash shown in the consolidated condensed statement of cash flows	$ 38,614	$ 540,988

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Macquarie Infrastructure Holdings, LLC ("MIH") is a Delaware limited liability company formed on February 5, 2021, and the registrant since September 22, 2021. MIH is the successor to Macquarie Infrastructure Corporation ("MIC"), a Delaware corporation formed on May 21, 2015. MIC’s predecessor, Macquarie Infrastructure Company LLC, was formed on April 13, 2004. Except as otherwise specified, all references in this Form 10-Q to “MIH” or the "Company" refers to Macquarie Infrastructure Holdings, LLC and its subsidiaries, or as necessary when referring to previous reporting periods or the period prior to September 22, 2021, MIC and its subsidiaries. MIH is externally managed by Macquarie Infrastructure Management (USA) Inc. (the "Manager"), pursuant to the terms of a Management Services Agreement, subject to the oversight and supervision of the Board. Six of the eight members of the Board, and all members of each of the Company's Audit, Compensation, and Nominating and Governance Committees, are independent and have no affiliation with Macquarie. The Manager is a member of the Macquarie Group of companies comprising Macquarie Group Limited and its subsidiaries and affiliates worldwide. Macquarie Group Limited is headquartered in Australia and is listed on the Australian Securities Exchange. The Company provides products to corporations, government agencies, and individual customers in Hawaii. The Company's operations comprise an energy company that processes and distributes gas and provides related services, Hawaii Gas, and several smaller operations collectively engaged in efforts to reduce the cost and improve the reliability and sustainability of energy in Hawaii. In October 2019, along with actively managing its existing portfolio of businesses, the Board resolved to pursue strategic alternatives including potentially a sale of the Company or its then three operating businesses as a means of unlocking additional value for equity holders. In December 2020, we completed the sale of IMTT ("IMTT Transaction"). On June 7, 2021, the Company entered into an agreement for the sale of its Atlantic Aviation business to KKR Apple Bidco, LLC (“Purchaser”), a Delaware limited liability company controlled by funds affiliated with Kohlberg Kravis Roberts & Co. L.P. (“KKR”), for $4.475 billion including cash and the assumption of debt and other transaction and reorganization related obligations (the "AA Transaction"). On June 14, 2021, the Company entered into a m erger agreement (the "Merger Agreement") with AMF Hawaii Holdings, LLC ("AMF Parent"), a Delaware limited liability company affiliated with Argo Infrastructure Partners, LP ("Argo"), and AMF Hawaii Merger Sub, LLC ("AMF Merger Sub"), a recently formed Delaware limited liability company and wholly-owned direct subsidiary of AMF Parent. The Merger Agreement provides that AMF Merger Sub will be merged with and into MIH (the "Merger"), with MIH surviving the Merger as a wholly owned subsidiary of AMF Parent. Upon the completion of the Merger, each of the MIH common units (excluding common units held by AMF Parent or AMF Merger Sub or common units held by MIH in treasury and common units held by any subsidiary of MIH or AMF Parent (other than AMF Merger Sub)), will be converted into the right to receive $3.83 in cash, without interest; or, if the Merger is consummated after July 1, 2022, then each such unit will be converted into the right to receive $4.11 in cash, without interest. Under the terms of the Merger Agreement, at closing, AMF Parent will pay the merger consideration to unitholders, and fund transaction costs and fund a disposition payment to MIH’s Manager of $81.7 million if the Merger closes on or before July 1, 2022 or $56.7 million if the Merger closes after this date. On September 21, 2021, the Company conducted a Special Meeting of Shareholders during which shareholders voted on and approved the AA Transaction and the Merger. As a result of the approval, MIH classified its Atlantic Aviation business as a discontinued operation and eliminated it as a reportable segment. All prior periods reported herein reflect this change. On September 22, 2021, shareholders of Macquarie Infrastructure Corporation became unitholders of Macquarie Infrastructure Holdings, LLC, a limited liability company treated as a partnership for tax purposes, on a one-for-one basis without an exchange of certificates. Commencing September 23, 2021, units of Macquarie Infrastructure Holdings, LLC traded on the New York Stock Exchange ("NYSE") under the same symbol (NYSE: MIC) and with the same CUSIP number (55608B105) as previously associated with shares of Macquarie Infrastructure Corporation. As part of the reorganization, the entity holding the businesses comprising MIC's MIC Hawaii segment was distributed to and became a direct subsidiary of Macquarie Infrastructure Holdings, LLC. For tax purposes, the distribution was deemed to be a sale of MIC Hawaii by MIC and unitholders were deemed to have received a distribution of the fair market value of the equity of that segment, subsequently determined to equate to $3.70 per unit. On September 23, 2021, MIH completed the AA Transaction, and received $3.525 billion at the closing. The MIH Board elected to return certain proceeds from the AA Transaction to unitholders, declaring a one-time distribution of $37.386817 per common unit of the Company, paid on October 7, 2021 to unitholders of record as of the close of trading on October 4, 2021. The Company's common units traded with due-bills attached from October 1, 2021 through October 7, 2021 pursuant to relevant NYSE rules. In addition, MIH made a disposition payment to the Manager of $228.6 million. See Note 4, “Discontinued Operations and Dispositions” for further information. The Merger is expected to be completed in the first half of 2022 subject to the approval by the Hawaii Public Utilities Commission ("HPUC") and the satisfaction of customary closing conditions for this type of transaction. Upon the closing of the Merger, the Company will no longer be a publicly traded entity.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the U.S. and in accordance with the instructions for Form 10-Q and Article 10 of Regulation S-X for interim financial information. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial reporting. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The consolidated balance sheet on December 31, 2021 has been derived from audited financial statements but does not include all the information and notes required by GAAP for complete financial statements. Certain reclassifications were made to the consolidated financial statements for the prior period to conform to current period presentation. The interim financial information contained herein should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2021 included in the Company's Annual Report on Form 10-K, as filed with the SEC on February 22, 2022. Operating results for the quarter ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 or for any future interim periods. Use of Estimates The preparation of unaudited consolidated condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures related thereto at the date of the unaudited consolidated condensed financial statements and the reported amounts of revenue and expenses during the reporting period. Management evaluates these estimates and assumptions on an ongoing basis. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited interim consolidated condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates. Financial Instruments The Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and variable-rate senior debt, are carried at cost, which approximates their fair value because of either the short-term maturity or competitive interest rates assigned to these financial instruments. The fair values of the Company’s other debt instruments fall within level 1 or level 2 of the fair value hierarchy. The Company considers all highly liquid investments, including commercial paper issued by counterparties with Standard & Poor's rating of A1+ or higher, with maturity of three months or less when purchased to be cash and cash equivalents. The Company did not have any investments in commercial paper on March 31, 2022 or December 31, 2021. Income Taxes MIH is a limited liability company treated as a partnership for tax purposes. Taxable income/losses reported by MIH are passed-through to the unitholders and reported on a Schedule K-1. MIH does not pay federal or state income tax. The subsidiaries of the Company are owned by an intermediate holding company organized as a limited liability company and classified as a corporation for tax purposes. The intermediate holding company files a consolidated federal income tax return and a combined Hawaii state income tax return. Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting , which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued as a result of reference rate reform. In January 2021, the FASB also issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope

Impact of COVID-19

Impact of COVID-19	3 Months Ended
	Mar. 31, 2022
Unusual or Infrequent Items, or Both [Abstract]
Impact of COVID-19	Impact of COVID-19Visitor arrivals to Hawaii, the primary driver of increases in demand for gas in Hawaii, improved sequentially in the first quarter of 2022, which we believe reflects increased visitor confidence levels due to the availability of COVID-19 vaccines and a relatively low level of infections in the islands. The rate of recovery in the number of visitors to Hawaii in the future remains uncertain. COVID-19 continues to negatively affect the performance of the MIC Hawaii businesses, although the effects have diminished relative to this time last year. The additional easing of travel restrictions this quarter has resulted in an increase in economic activity and the number of primarily domestic visitors to Hawaii, but not to pre-COVID-19 levels. A significant surge in COVID-19 rates could negatively impact the number of visitors to Hawaii. Trends in the number of visitors to Hawaii and demand for gas were positive in the first quarter, although the financial performance of the Company continues to lag pre-COVID-19 periods. The number of visitors to Hawaii increased to 2.0 million for the quarter ended March 31, 2022, from 847,000 for the quarter ended March 31, 2021. The resulting improvement in hotel occupancy, restaurants patronage, and use of commercial laundry services contributed to an increase in gas consumption of 11% during the quarter ended March 31, 2022, versus the comparable period in 2021. The number of visitors to Hawaii was lower by 21% in the quarter ended March 31, 2022, and overall gas consumption was lower by 13% versus the comparable pre-COVID-19 period in 2019.

Discontinued Operations and Dis

Discontinued Operations and Dispositions	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Dispositions	Discontinued Operations and Dispositions The Company accounts for disposals that represent a strategic shift that should have or will have a major effect on operations as discontinued operations in the consolidated condensed statements of income (loss) commencing in the period in which the business or group of businesses meets the criteria of a discontinued operation. These results include any gain or loss recognized on disposal or adjustment of the carrying amount to fair value less cost to sell . AA Transaction On September 23, 2021, MIH completed the AA Transaction for $4.475 billion including cash and the assumption of debt and other transaction and reorganization related obligations. The Company received $3.525 billion from KKR at the closing of the AA Transaction. The MIH Board elected to return certain proceeds from the AA Transaction to unitholders in a one-time distribution, after a disposition payment by MIH to the Manager of $228.6 million. The Board declared a one-time distribution of $37.386817 per common unit of the Company, paid on October 7, 2021 to unitholders of record as of the close of trading on October 4, 2021. The sale of Atlantic Aviation was part of the Company's efforts to unlock value for its unitholders. On September 21, 2021, the unitholders of MIC approved the AA Transaction at the Special Meeting and therefore the Company determined that each of the criteria to be classified as held for sale under ASC 205-20, Presentation of Financial Statements — Discontinued Operations , had been met as it relates to Atlantic Aviation. It was additionally determined that the sale of Atlantic Aviation is considered a strategic shift for the Company that will have a major effect on operations. Accordingly, Atlantic Aviation was classified as a discontinued operation and the Atlantic Aviation segment was eliminated. All prior periods have been restated to reflect these changes. The Company recognized a book gain on sale of approximately $2.95 billion as a result of the AA Transaction. The Company incurred $50.2 million in transaction costs and a disposition payment of $228.6 million to its Manager, both of which were included in Selling, general and administrative expenses in the consolidated condensed statement of income (loss). Summarized financial information for discontinued operations included in the Company's consolidated condensed statement of income (loss) related to the Atlantic Aviation business for the quarter ended March 31, 2021 is as follows ($ in thousands): Quarter Ended 2021 Service revenue $ 209,604 Cost of services (82,233) Selling, general and administrative expenses (65,411) Depreciation and amortization (23,771) Interest expense, net (11,412) Other income, net 838 Net income from discontinued operations before income taxes $ 27,615 Provision for income taxes (7,548) Net income from discontinued operations $ 20,067

Income per Unit

Income per Unit	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Income per Unit	Income per Unit Following is a reconciliation of the basic and diluted income (loss) per unit computations ($ in thousands, except unit and per unit data ): Quarter Ended March 31, 2022 2021 Numerator: Net income (loss) from continuing operations attributable to MIH $ 11,142 $ (6,867) Interest expense attributable to 2.00% Convertible Senior Notes, net of taxes 27 — Diluted net income (loss) from continuing operations attributable to MIH $ 11,169 $ (6,867) Basic and diluted net income from discontinued operations attributable to MIH $ — $ 20,067 Denominator: Weighted average number of units outstanding: basic 88,494,560 87,411,455 Dilutive effect of restricted stock unit grants (1) 254,541 — Dilutive effect of 2.00% Convertible Senior Notes 1,111,293 — Weighted average number of units outstanding: diluted 89,860,394 87,411,455 ___________ (1 ) Dilutive effect of restricted stock unit grants includes grants to certain employees of the Company's operating businesses under the 2016 Omnibus Employee Incentive Plan . Quarter Ended March 31, 2022 2021 Income per unit: Basic income (loss) per unit from continuing operations attributable to MIH $ 0.13 $ (0.08) Basic income per unit from discontinued operations attributable to MIH — 0.23 Basic income per unit attributable to MIH $ 0.13 $ 0.15 Diluted income (loss) per unit from continuing operations attributable to MIH $ 0.12 $ (0.08) Diluted income per unit from discontinued operations attributable to MIH — 0.23 Diluted income per unit attributable to MIH $ 0.12 $ 0.15 The following represents the weighted average potential dilutive units of common units that were excluded from the diluted income per unit calculation: Quarter Ended March 31, 2022 2021 Restricted unit grants — 83,843 2.00% Convertible Senior Notes (1) — 4,175,825 Total — 4,259,668 ___________ (1) During the quarter ended March 31, 202 1, the Company repurchased $358.6 million in aggregate principal amount of its 2.00% Convertible Senior Notes ("Notes"). For the quarter ended March 31, 2021, the weighted average units reflect the “if-converted” dilutive impact to common units for the repurchased Notes for the period that the Notes were outstanding and the impact of the increase to the conversion rate following the special dividend pertaining to the IMTT Transaction paid on January 8, 2021. See Note 8, “Long-Term Debt”, for further discussion.

Property, Equipment, Land, and

Property, Equipment, Land, and Leasehold Improvements	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Equipment, Land, and Leasehold Improvements	Property, Equipment, Land, and Leasehold Improvements Property, equipment, land, and leasehold improvements on March 31, 2022 and December 31, 2021 consisted of the following ($ in thousands): March 31, December 31, 2021 Land $ 10,710 $ 10,710 Buildings 4,533 4,427 Leasehold and land improvements 20,098 20,003 Machinery and equipment 378,948 376,924 Furniture and fixtures 3,740 3,740 Construction in progress 14,216 11,313 432,245 427,117 Less: accumulated depreciation (133,499) (129,927) Property, equipment, land, and leasehold improvements, net $ 298,746 $ 297,190

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets on March 31, 2022 and December 31, 2021 consisted of the following ($ in thousands): March 31, December 31, 2021 Customer relationships $ 7,400 $ 7,400 Trade names 8,500 8,500 Leasehold rights 100 100 16,000 16,000 Less: accumulated amortization (11,608) (11,502) Intangible assets, net $ 4,392 $ 4,498 The Company tests for goodwill impairment annually on October 1 of each year and between annual tests if a triggering event indicates the possibility of impairment. With the signing of the Merger, the Company evaluates goodwill for impairment having regard to the Merger transaction value. Goodwill acquired in business combinations, net of disposals was $120.2 million on March 31, 2022 and December 31, 2021, respectively. See Note 1, "Organization and Description of Business" for discussions on the Merger. There were no triggering events that indicated impairment for the quarter ended March 31, 2022.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On March 31, 2022 and December 31, 2021, the Company’s consolidated long-term debt balance comprised the following ($ in thousands): March 31, December 31, 2021 Term Loan - Hawaii Gas $ 80,000 $ 80,000 Term Loan - Solar Facilities in Hawaii 12,424 12,698 2.00% Convertible Senior Notes 6,821 6,821 Total 99,245 99,519 Current portion (1,118) (1,107) Long-term portion 98,127 98,412 Unamortized debt financing costs (1) (684) (757) Long-term portion less unamortized debt discount and debt financing costs $ 97,443 $ 97,655 ___________ (1) The weighted average remaining life of the debt financing costs on March 31, 2022 was 2.7 years. 2.00% Convertible Senior Notes due October 2023 (2.00% Convertible Senior Notes) In October 2016, the Company completed an underwritten public offering of a seven year, $402.5 million aggregate principal amount of 2.00% Convertible Senior Notes. The Notes are convertible, at the holder’s option, only upon satisfaction of one or more conditions set forth in the indenture governing the Notes. Upon conversion, the Company will pay or deliver, as the case may be, cash, common units of Company, or a combination thereof, at the Company’s election. The $402.5 million of 2.00% Convertible Senior Notes had an initial value of the principal amount recorded as a liability of $375.8 million, using an effective interest rate of 3.1%. The remaining $26.7 million of principal amount was allocated to the conversion feature and recorded in Common Units Paid in Capital . This amount represents a discount to the debt to be amortized through interest expense using the effective interest method through maturity. The Company also recorded $11.2 million in debt financing costs from the issuance of the 2.00% Convertible Senior Notes, of which $744,000 was recorded as equity issuance costs as a component of Unitholders’ Equity. On January 1, 2021, the Company adopted ASU 2020-06 under the modified retrospective method. ASU 2020-06 removes the accounting for cash conversion feature of the Notes such that the Notes would only be classified as a liability. The adoption of ASU 2020-06 resulted in the reversal of the initial equity component recorded of $26.7 million and made an adjustment to the beginning balance to Retained Earnings of $7.0 million primarily for the reversal of the amortization of debt discount taken through that date, net of taxes. During 2021, the Company repurchased $395.7 million in aggregate principal amount of the 2.00% Convertible Senior Notes, of which $358.6 million and $26.9 million were repurchased in tender offers on March 16, 2021 and October 22, 2021, respectively. In connection with the repurchases, the Company incurred $1.2 million of transaction costs and wrote-off $3.7 million of debt financing costs recorded in Selling, general and administrative expenses and Interest expense , respectively, in the consolidated condensed statements of income (loss). On March 31, 2022 and December 31, 2021, the outstanding balance of the 2.00% Convertible Senior Notes was $6.8 million. On March 31, 2022 and December 31, 2021, the fair value of the 2.00% Convertible Senior Notes was approximately $6.6 million and $6.8 million, respectively. The conversion rate was 162.9223 common units per $1,000 principal amount on March 31, 2022. Interest expense related to the 2.00% Convertible Senior Notes consisted of the following ($ in thousands): Quarter Ended March 31, 2022 2021 Contractual interest expense $ 34 $ 1,754 Amortization of debt financing cost — 345 Write-off of debt financing cost — 3,644 Total interest expense $ 34 $ 5,743 Hawaii Gas On April 19, 2021, Hawaii Gas fully repaid all of its $100.0 million senior secured notes outstanding and incurred a $4.7 million 'make-whole' payment and wrote-off $154,000 of debt financing costs both recorded in Interest expense in the consolidated condensed statements of income (loss) . On March 31, 2022 and December 31, 2021, Hawaii Gas had an $80.0 million term loan outstanding and a $60.0 million revolving credit facility that was undrawn. During the quarter ended June 30, 2021, Hawaii Gas extended the maturity on its term loan and revolving credit facility from February 2023 to February 2024.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Interest Rate Contracts The Company has in place variable-rate debt. Management believes that it is prudent to limit the variability of a portion of the business’ interest payments and the business entered into interest rate swap agreements to manage fluctuations in cash flows resulting from interest rate risk on a portion of its variable-rate debt. Interest rate swaps change the variable-rate cash flow exposure on the debt obligations to fixed cash flows. Under the terms of the interest rate swaps, the Company receives variable rate interest payments and makes fixed rate interest payments, thereby creating the equivalent of fixed-rate debt for the portion of the debt that is swapped. The Company does not use hedge accounting. All movements in the fair value of the interest rate derivatives are recorded directly through earnings. Commodity Price Contracts The risks associated with fluctuations in the prices that Hawaii Gas pays for liquefied petroleum gas ("LPG") is principally a result of market forces reflecting changes in supply and demand for LPG and other energy commodities. Hawaii Gas’ gross margin (revenue less cost of product sales excluding depreciation and amortization) is sensitive to changes in LPG supply costs and Hawaii Gas may not always be able to pass through cost increases fully or on a timely basis, particularly when product costs rise rapidly. To reduce its exposure to volatility in the business’ LPG wholesale market price, Hawaii Gas has used and expects to continue to use over-the-counter commodity derivative instruments. Hawaii Gas does not use commodity derivative instruments for speculative or trading purposes. Over-the-counter derivative instruments used by Hawaii Gas to hedge a portion of forecasted purchases of LPG are generally settled at expiration of the contract. On March 31, 2022, Hawaii Gas had 61.7 million gallons of LPG hedged through September 2024. Financial Statement Location Disclosure for Derivative Instruments The Company measures derivative instruments at fair value using the income approach which discounts the future net cash settlements expected under the derivative contracts to a present value. These valuations use primarily observable (level 2) inputs, including contractual terms, interest rates, and yield curves observable at commonly quoted intervals. The Company’s fair value measurements of its derivative instruments and the related location of the assets and liabilities within the consolidated condensed balance sheets on March 31, 2022 and December 31, 2021 were ($ in thousands): Assets (Liabilities) at Fair Value Balance Sheet Classification March 31, December 31, 2021 Fair value of derivative instruments - other current assets $ 8,344 $ 909 Fair value of derivative instruments - other noncurrent assets 4,078 470 Total derivative contracts - assets $ 12,422 $ 1,379 Fair value of derivative instruments - other current liabilities $ — $ (122) Total derivative contracts – liabilities $ — $ (122) The Company’s hedging activities for the quarters ended March 31, 2022 and 2021 and the related location within the consolidated condensed statements of income (loss) were ($ in thousands): Income Statement Classification Gain Recognized for the Quarters Ended March 31, 2022 2021 Interest expense - interest rate swaps $ 489 $ 283 Cost of product sales - commodity swaps 12,928 1,626 Total $ 13,417 $ 1,909

Unitholders' Equity

Unitholders' Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Unitholders' Equity	Unitholders' Equity 2014 Independent Directors' Equity Plan ("2014 Plan") On May 14, 2020, the Company granted its independent directors a total of 32,112 director share units with a grant date fair value of $27.43 per share. During the quarter ended March 31, 2021, the Company granted an additional 12,024 director share units to preserve the economic value of the unvested director share units after giving effect to the special dividend made in connection with the IMTT Transaction. These director share units vested on May 11, 2021, the day immediately preceding the 2021 Annual Meeting of Shareholders. On May 19, 2021, the Company granted its independent directors a total of 25,974 director share units with a grant date fair value of $34.90 per share. These director share units fully vested on September 23, 2021, as a result of the AA Transaction, which constituted a change in control as defined in the 2014 Plan. Compensation expenses related to the director share units was $225,000 for the quarter ended March 31, 2021. Short-Term Incentive Plan ("STIP") for MIH Operating Businesses — Restricted Stock Units ("RSUs") The Company has a STIP to provide cash and stock-based incentives to eligible employees of its operating businesses under the Company’s 2016 Omnibus Employee Incentive Plan ("2016 Plan"). In general, the cash component comprises 75% of any incentive award and is paid in a lump-sum. The remaining 25% of any incentive award is in the form of RSUs representing an interest in the common units of the Company. RSUs are granted following assessment of performance against Key Performance Indicators post the one-year performance period and vest in two equal annual installments following the grant date. The following sets forth unvested STIP RSU grants through March 31, 2022: STIP Grants Number of RSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 34,627 $ 24.50 Granted (1) 286,013 4.89 Forfeited (215) 24.92 Vested (2) (68,776) 31.03 Unvested balance on December 31, 2021 251,649 $ 2.49 Granted 79,670 3.74 Forfeited (2,603) 2.16 Vested (3) (158,844) 2.30 Unvested balance on March 31, 2022 169,872 $ 3.26 ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 12,614 RSUs to preserve the economic value of the unvested RSUs after giving effect to the special dividend made in connection with the IMTT Transaction. During the quarter ended December 31, 2021, the Company granted an additional 228,943 RSUs to preserve the economic value of the unvested RSUs after giving effect to the one-time distribution made in connection with the AA Transaction. (2) As a result of the AA Transaction, the Company's Compensation Committee and Board approved the accelerated vesting of the STIP RSU grants for former eligible employees of Atlantic Aviation and MIC Global Services ("MGS"). These RSUs were fully vested on September 23, 2021. (3) Units related to RSUs vested on March 31, 2022 w ere issued in April 2022. On March 31, 2022, the grant date fair value of the unvested awards was $554,000 and is expected to be recognized over a weighted-average period of 1.0 years. Compensation expense related to the STIP RSUs were $354,000 for the quarter ended March 31, 2022, compared with $309,000 (which includes the former eligible participants of Atlantic Aviation and MGS) for the quarter ended March 31, 2021. From time to time, the Company may issue RSUs to reward or retain employees, or to attract new employees, or for other reasons by providing special grants of RSUs. Vesting dates and terms can vary for each award at the discretion of the Company. The following sets forth unvested Special RSU grants through March 31, 2022: Special RSU Grants Number of RSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 4,967 $ 40.30 Granted (1) 1,860 — Vested (6,827) 29.32 Unvested balance on December 31, 2021 — $ — ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 1,860 RSUs to preserve the economic value of the unvested RSUs after giving effect to the special dividend made in connection with the IMTT Transaction. Compensation expense related to the Special RSU grants was $200,000 for the quarter ended March 31, 2021. Long-Term Incentive Plan ("LTIP") for MIH Operating Businesses — Performance Stock Units ("PSUs") The Company has a LTIP pursuant to which it makes stock-based incentive awards to eligible employees of its operating businesses. The awards take the form of PSUs convertible into common units of the Company as authorized under its 2016 Plan. The number of PSUs a participant may be awarded reflects a target level of performance by the participant. The participant may be awarded more (over performance limit) or less (threshold limit) than the target number of PSUs based on their achievements relative to Key Performance Indicators during the three-year performance period. Following finalization of the participant’s performance review, generally at the end of the third year of the program, the Company awards the PSUs. The following sets forth unvested LTIP PSU grants through March 31, 2022 at the target level of performance: LTIP Grants (at Target) Number of PSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 71,521 $ 39.47 Granted (1) 1,205,242 5.73 Forfeited (2) (86,384) 31.39 Vested (2) (135,493) 37.93 Unvested balance on December 31, 2021 1,054,886 $ 2.76 Granted 199,016 3.74 Vested (356,124) 2.60 Unvested balance on March 31, 2022 897,778 $ 3.04 ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 26,004 PSUs to preserve the economic value of the unvested PSUs after giving effect to the special dividend made in connection with the IMTT Transaction. During the quarter ended December 31, 2021, the Company granted an additional 959,700 PSUs to preserve the economic value of the unvested PSUs after giving effect to the one-time distribution made in connection with the AA Transaction. (2) As a result of the AA Transaction, the Company's Compensation Committee and Board approved the accelerated vesting of the LTIP PSU grants for former eligible employees of Atlantic Aviation and MGS. These PSUs were fully vested on September 23, 2021. As of March 31, 2022, depending upon actual performance, the number of PSUs to be issued will vary from zero to 1,571,112, net of forfeitures. On March 31, 2022, the grant date fair value of the unvested awards was $2.7 million, reflecting target performance by all participants. On March 31, 2022, the unrecognized compensation cost related to unvested PSU awards was $897,000 at target level performance and is expected to be recognized over a weighted-average period of 1.6 years. Compensation expense related to the LTIP PSUs was $298,000 for the quarter ended March 31, 2022, compared with $1.5 million (which includes the former eligible participants of Atlantic Aviation and MGS) for the quarter ended March 31, 2021. Accumulated Other Comprehensive Loss, net of taxes The following represents the changes and balances to the components of accumulated other comprehensive loss, net of taxes, for the quarter ended March 31, 2022 and 2021 ($ in thousands): Post-Retirement Benefit Plans, net of taxes Total Unitholders’ Accumulated Other Comprehensive Loss, net of taxes Balance on December 31, 2020 $ (6,175) $ (6,175) Balance on March 31, 2021 $ (6,175) $ (6,175) Balance on December 31, 2021 $ (5,106) $ (5,106) Balance on March 31, 2022 $ (5,106) $ (5,106)

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company's business comprises: (i) Hawaii Gas, Hawaii’s only government-franchised gas utility and an unregulated LPG distribution business providing gas and related services to industrial, commercial, residential, and governmental customers; (ii) controlling interests in two solar facilities on Oahu, and (iii) smaller projects collectively engaged in efforts to reduce the cost and improve the reliability and sustainability of energy in Hawaii. Revenue from Hawaii Gas is generated from the distribution and sales of synthetic natural gas ("SNG"), LPG, liquefied natural gas ("LNG"), and renewable natural gas ("RNG"). Revenue is primarily a function of the amount of product consumed by customers and the price per British Thermal Unit or gallon charged to customers. Revenue levels, without organic growth, will generally track global commodity prices, namely petroleum and natural gas, as its products are derived from these commodities. Revenue from Hawaii Gas is recorded in product revenue. Hawaii Gas recognizes revenue when products are delivered. Sales of gas to customers are billed on a monthly-cycle basis. Earned but unbilled revenue is accrued and included in accounts receivable and revenue. This is based on the amount of gas that has been delivered but not billed to customers from the latest meter reading or billed delivery date to the end of an accounting period. The related costs are charged to expense. The renewables projects in Hawaii sell substantially all of the electricity generated at a fixed price to primarily electric utility customers pursuant to long-term power purchase agreements ("PPAs") of 20 years. The PPAs are accounted for as operating leases and have no minimum lease payments. Lease income is recorded within product revenue when the electricity is delivered. Revenue from external customers were ($ in thousands): Quarter Ended March 31, 2022 2021 Product revenue Lease $ 1,071 $ 890 Gas 64,809 50,751 Other 2,801 2,946 Total revenue $ 68,681 $ 54,587

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Management Services On March 31, 2022 and December 31, 2021, the Manager held 14,937,119 units and 14,719,423 units, respectively, of the Company’s common units. Pursuant to the terms of the Fourth Amended and Restated Management Agreement ("MSA"), the Manager may sell these units at any time. Under the MSA, the Manager, at its option, may reinvest base management fees and performance fees, if any, in units of the Company. The Manager’s holdings on March 31, 2022 represented 16.82% of the Company's outstanding common units. Since January 1, 2021, the Company paid the Manager cash dividends and/or distributions on units held for the following periods: Declared Period $ Record Payable Cash Paid to Manager September 23, 2021 (1) $ 37.386817 October 4, 2021 October 7, 2021 $ 544,841 December 23, 2020 (2) 11.00 January 5, 2021 January 8, 2021 153,503 ___________ (1) One-time distribution declared and paid out of the proceeds from the AA Transaction. Units of MIH traded with "due-bills" attached through October 7, 2021 and traded ex-distribution on October 8, 2021. (2) Special dividend declared and paid out of the proceeds from the IMTT Transaction. Units of MIH traded with “due-bills” attached through January 8, 2021 and traded ex-dividend on January 11, 2021. Under the MSA, subject to the oversight and supervision of the Company’s Board, the Manager is responsible for and oversees the management of the Company’s business. In addition, the Manager has the right to appoint the Chairman of the Board, subject to minimum equity ownership, and to assign, or second, to the Company, two of its employees to serve as chief executive officer and chief financial officer of the Company and seconds or makes other personnel available as required. In accordance with the MSA, the Manager is entitled to a monthly base management fee based primarily on the Company’s market capitalization, and potentially a quarterly performance fee based on total unitholder returns relative to a U.S. utilities index. Currently, the Manager has elected to reinvest future base management fees and performance fees, if any, in additional units. For the quarter ended March 31, 2022, the Company incurred base management fees of $800,000, compared with $5.6 million for the quarter ended March 31, 2021. The Company did not incur any performance fees for the quarters ended March 31, 2022 and 2021. Effective November 1, 2018, the Manager waived two portions of the base management fee to which it was entitled under the terms of the MSA. In effect, the waivers cap the base management fee at 1% of the Company’s equity market capitalization less any cash balances at the holding company. The waiver applies only to the calculation of the base management fees and not to the remainder of the MSA. The Manager reserves the right to revoke the waivers and revert to the prior terms of the MSA, subject to providing the Company with not less than a one year notice. A revocation of the waiver would not trigger a recapture of previously waived fees. As part of the Disposition Agreement entered into between the Company and its Manager, discussed below, the Manager has agreed not to revoke the waiver during the term of the Disposition Agreement. The amendment to the Disposition Agreement, described below, provides for the payment of the waived fees upon the consummation of the Merger. Disposition Agreement To facilitate sales of its operating businesses, on October 30, 2019, the Company announced that it entered into a Disposition Agreement with its Manager (see Exhibit 10.3 of the Form 10-K filed on February 22, 2022). Outside of the Disposition Agreement, the Company has limited ability to terminate the MSA. The Disposition Agreement provides for the termination of the Company’s external management relationship with its Manager as to any businesses, or substantial portions thereof, that are sold (including if the Company itself is sold). In connection therewith, the Company will make a payment to its Manager of approximately 2.9% to 6.1% of the net proceeds generated in the event of such sales, subject to a minimum amount of payments for all sales in the aggregate in the event of a Qualifying Termination Event ("QTE") of (i) $50.0 million plus (ii) 1.5% multiplied by proceeds in excess of $500.0 million in the aggregate. A QTE means (i) the sale of the Company or (ii) a transaction or series of transactions resulting in a third party or parties acquiring all the assets of the Company. The Disposition Agreement provides that the MSA will terminate upon the occurrence of a QTE or upon mutual agreement of the parties. If the MSA has not been terminated prior to the sixth anniversary of the Disposition Agreement, the Company's Manager and its independent directors will engage in reasonable, good faith discussions regarding a potential internalization or other framework for a termination of the MSA. The Disposition Agreement provides that if a QTE occurs on or prior to January 1, 2022 (subject to extension under certain circumstances for up to six months thereafter), then the Company will pay its Manager an additional payment of $25.0 million. The Disposition Agreement further provides that its Manager will receive a make-whole payment following a QTE, to the extent that the aggregate management fees paid to its Manager through the date of the QTE were less than (i) $20.0 million per year for the two years following the date of the Disposition Agreement and (ii) $10.0 million per year for any period thereafter. In addition, following a QTE, the Manager will be paid in cash all accrued and unpaid management fees, including fees of $8.5 million waived in accordance with the Limited Waiver, which waived fees would have been payable through October 31, 2019. The Manager has agreed not to exercise its right to retract the Limited Waiver for periods after October 31, 2019 and prior to the termination of the Disposition Agreement. The Disposition Agreement will terminate on the earlier to occur of (i) the termination of the MSA and (ii) the sixth anniversary of the agreement, subject to extension under certain circumstances if a transaction is pending. In connection with the IMTT Transaction and pursuant to the Disposition Agreement as amended by the Amendment noted below, the Company deposited a disposition payment of $28.2 million to its Manager in an escrow account in December 2020 and subsequently released the payment from escrow in March 2021. In connection with the execution of the Merger, and in order to provide AMF Parent with the fixed amount of the Disposition Payment (as defined in the Disposition Agreement) payable to the Manager with respect to the Merger, on June 14, 2021, the Company and the Manager entered into an amendment (the "Amendment") to the Disposition Agreement. The Amendment provides that the Disposition Payment payable to the Manager with respect to the Merger will be $56.7 million (which amount includes the Waived Fees (as defined in the Disposition Agreement)). These amounts were calculated in accordance with the Disposition Agreement dated as of October 30, 2019, do not include the $25.0 million additional payment to the Manager if the final sale of the Company occurs on or prior to July 1, 2022, and assume a closing date of March 31, 2022, for the Merger. The Amendment also provides that the Disposition Payments with respect to the Merger will be paid concurrently with the relevant transaction closing, and that the Company’s MSA with the Manager will terminate concurrent with the closing of the Merger and payment of all amounts payable to the Manager under the Disposition Agreement. In connection with the AA Transaction and pursuant to the Disposition Agreement, the Company paid the Manager $228.6 million in September 2021 concurrent with the closing of the transaction. The unpaid portion of the base management fees and performance fees, if any, at the end of each reporting period is included in Due to Manager-related party in the consolidated condensed balance sheets. The following table shows the Manager's reinvestment of its base management fees and performance fees, if any, in units: Period Base Management Performance Units 2022 Activities: First quarter 2022 $ 800 $ — 219,026 (1) 2021 Activities: Fourth quarter 2021 1,056 — 217,273 Third quarter 2021 7,698 — 195,556 Second quarter 2021 7,551 — 214,040 First quarter 2021 5,552 — 176,296 ___________ (1) The Manager elected to reinvest all monthly base management fees for the quarter ended March 31, 2022 in new primary units. The Company issued 219,026 units for the quarter ended March 31, 2022, including 73,653 units that were issued in April 2022. The Manager is not entitled to any other compensation and all costs incurred by the Manager, including compensation of seconded staff, are paid by the Manager out of its base management fee. However, the Company is responsible for other direct costs including, but not limited to, expenses incurred in the administration or management of the Company and its subsidiaries, income taxes, audit and legal fees, acquisitions and dispositions, and its compliance with applicable laws and regulations. During the quarter ended March 31, 2022, the Manager charged the Company $1,000 for the reimbursement of out-of-pocket expenses compared with an insiginficant amount for the quarter ended March 31, 2021. The unpaid portion of the out-of-pocket expenses at the end of the reporting period is included in Due to Manager-related party in the consolidated condensed balance sheets. During the quarter ended March 31, 2021, the Company paid $30,000 in legal fees incurred by the the Manager related to certain MIC shareholder litigation. The payment reflects a credit of $30,000 of legal fees incurred by the Manager in 2020. Macquarie Group - Other Services The Company uses the resources of the Macquarie Group with respect to a range of advisory, procurement, insurance, hedging, lending, and other services. Engagements involving members of the Macquarie Group are reviewed and approved by the Audit Committee of the Company’s Board. Macquarie Group affiliates are engaged on an arm’s length basis and frequently as a member of a syndicate of providers whose other members establish the terms of the interaction. Advisory Services The Macquarie Group, and wholly-owned subsidiaries within the Macquarie Group, including Macquarie Bank Limited ("MBL") and Macquarie Capital (USA) Inc. ("MCUSA") have provided various advisory and other services and incurred expenses in connection with the Company’s equity raising activities, acquisitions, and debt structuring for the Company and its businesses. Underwriting fees are recorded in unitholders’ equity as a direct cost of equity offerings. Advisory fees and out-of-pocket expenses relating to acquisitions are expensed as incurred. Debt arranging fees are deferred and amortized over the term of the credit facility. Long-Term Debt The Company had a $600.0 million senior secured revolving credit facility at the holding company level to which Macquarie Capital Funding LLC had a $40.0 million commitment. On January 19, 2021, all commitments on the senior secured revolving credit facility were terminated in accordance with the terms of that agreement. For the quarter ended March 31, 2021, the Company incurred interest expense of $8,000 related to Macquarie Capital Funding LLC’s portion of the senior secured revolving credit facility.

Legal Proceedings and Contingen

Legal Proceedings and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Contingencies	Legal Proceedings and ContingenciesThe Company and its subsidiaries are subject to legal proceedings arising in the ordinary course of business. In management’s opinion, the Company has adequate legal defenses and/or insurance coverage with respect to the eventuality of such actions and does not believe the outcome of any pending legal proceedings will be material to the Company’s financial position or results of operations.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of unaudited consolidated condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures related thereto at the date of the unaudited consolidated condensed financial statements and the reported amounts of revenue and expenses during the reporting period. Management evaluates these estimates and assumptions on an ongoing basis. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the unaudited interim consolidated condensed financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.
Financial Instruments	Financial Instruments The Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and variable-rate senior debt, are carried at cost, which approximates their fair value because of either the short-term maturity or competitive interest rates assigned to these financial instruments. The fair values of the Company’s other debt instruments fall within level 1 or level 2 of the fair value hierarchy.
Income Taxes	Income Taxes MIH is a limited liability company treated as a partnership for tax purposes. Taxable income/losses reported by MIH are passed-through to the unitholders and reported on a Schedule K-1. MIH does not pay federal or state income tax. The subsidiaries of the Company are owned by an intermediate holding company organized as a limited liability company and classified as a corporation for tax purposes. The intermediate holding company files a consolidated federal income tax return and a combined Hawaii state income tax return.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting , which provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued as a result of reference rate reform. In January 2021, the FASB also issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope

Discontinued Operations and D_2

Discontinued Operations and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups	Summarized financial information for discontinued operations included in the Company's consolidated condensed statement of income (loss) related to the Atlantic Aviation business for the quarter ended March 31, 2021 is as follows ($ in thousands): Quarter Ended 2021 Service revenue $ 209,604 Cost of services (82,233) Selling, general and administrative expenses (65,411) Depreciation and amortization (23,771) Interest expense, net (11,412) Other income, net 838 Net income from discontinued operations before income taxes $ 27,615 Provision for income taxes (7,548) Net income from discontinued operations $ 20,067

Income per Unit (Tables)

Income per Unit (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Reconciliation of Earnings (Loss) per Unit	Following is a reconciliation of the basic and diluted income (loss) per unit computations ($ in thousands, except unit and per unit data ): Quarter Ended March 31, 2022 2021 Numerator: Net income (loss) from continuing operations attributable to MIH $ 11,142 $ (6,867) Interest expense attributable to 2.00% Convertible Senior Notes, net of taxes 27 — Diluted net income (loss) from continuing operations attributable to MIH $ 11,169 $ (6,867) Basic and diluted net income from discontinued operations attributable to MIH $ — $ 20,067 Denominator: Weighted average number of units outstanding: basic 88,494,560 87,411,455 Dilutive effect of restricted stock unit grants (1) 254,541 — Dilutive effect of 2.00% Convertible Senior Notes 1,111,293 — Weighted average number of units outstanding: diluted 89,860,394 87,411,455 ___________ (1 ) Dilutive effect of restricted stock unit grants includes grants to certain employees of the Company's operating businesses under the 2016 Omnibus Employee Incentive Plan . Quarter Ended March 31, 2022 2021 Income per unit: Basic income (loss) per unit from continuing operations attributable to MIH $ 0.13 $ (0.08) Basic income per unit from discontinued operations attributable to MIH — 0.23 Basic income per unit attributable to MIH $ 0.13 $ 0.15 Diluted income (loss) per unit from continuing operations attributable to MIH $ 0.12 $ (0.08) Diluted income per unit from discontinued operations attributable to MIH — 0.23 Diluted income per unit attributable to MIH $ 0.12 $ 0.15
Schedule of Antidilutive Securities	The following represents the weighted average potential dilutive units of common units that were excluded from the diluted income per unit calculation: Quarter Ended March 31, 2022 2021 Restricted unit grants — 83,843 2.00% Convertible Senior Notes (1) — 4,175,825 Total — 4,259,668 ___________ (1) During the quarter ended March 31, 202 1, the Company repurchased $358.6 million in aggregate principal amount of its 2.00% Convertible Senior Notes ("Notes"). For the quarter ended March 31, 2021, the weighted average units reflect the “if-converted” dilutive impact to common units for the repurchased Notes for the period that the Notes were outstanding and the impact of the increase to the conversion rate following the special dividend pertaining to the IMTT Transaction paid on January 8, 2021. See Note 8, “Long-Term Debt”, for further discussion.

Property, Equipment, Land, an_2

Property, Equipment, Land, and Leasehold Improvements (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment, Land, and Leasehold Improvements	Property, equipment, land, and leasehold improvements on March 31, 2022 and December 31, 2021 consisted of the following ($ in thousands): March 31, December 31, 2021 Land $ 10,710 $ 10,710 Buildings 4,533 4,427 Leasehold and land improvements 20,098 20,003 Machinery and equipment 378,948 376,924 Furniture and fixtures 3,740 3,740 Construction in progress 14,216 11,313 432,245 427,117 Less: accumulated depreciation (133,499) (129,927) Property, equipment, land, and leasehold improvements, net $ 298,746 $ 297,190

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets on March 31, 2022 and December 31, 2021 consisted of the following ($ in thousands): March 31, December 31, 2021 Customer relationships $ 7,400 $ 7,400 Trade names 8,500 8,500 Leasehold rights 100 100 16,000 16,000 Less: accumulated amortization (11,608) (11,502) Intangible assets, net $ 4,392 $ 4,498

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	On March 31, 2022 and December 31, 2021, the Company’s consolidated long-term debt balance comprised the following ($ in thousands): March 31, December 31, 2021 Term Loan - Hawaii Gas $ 80,000 $ 80,000 Term Loan - Solar Facilities in Hawaii 12,424 12,698 2.00% Convertible Senior Notes 6,821 6,821 Total 99,245 99,519 Current portion (1,118) (1,107) Long-term portion 98,127 98,412 Unamortized debt financing costs (1) (684) (757) Long-term portion less unamortized debt discount and debt financing costs $ 97,443 $ 97,655 ___________
Schedule of Interest Expense	Interest expense related to the 2.00% Convertible Senior Notes consisted of the following ($ in thousands): Quarter Ended March 31, 2022 2021 Contractual interest expense $ 34 $ 1,754 Amortization of debt financing cost — 345 Write-off of debt financing cost — 3,644 Total interest expense $ 34 $ 5,743

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The Company’s fair value measurements of its derivative instruments and the related location of the assets and liabilities within the consolidated condensed balance sheets on March 31, 2022 and December 31, 2021 were ($ in thousands): Assets (Liabilities) at Fair Value Balance Sheet Classification March 31, December 31, 2021 Fair value of derivative instruments - other current assets $ 8,344 $ 909 Fair value of derivative instruments - other noncurrent assets 4,078 470 Total derivative contracts - assets $ 12,422 $ 1,379 Fair value of derivative instruments - other current liabilities $ — $ (122) Total derivative contracts – liabilities $ — $ (122)
Schedule of Location of Hedging Activities	The Company’s hedging activities for the quarters ended March 31, 2022 and 2021 and the related location within the consolidated condensed statements of income (loss) were ($ in thousands): Income Statement Classification Gain Recognized for the Quarters Ended March 31, 2022 2021 Interest expense - interest rate swaps $ 489 $ 283 Cost of product sales - commodity swaps 12,928 1,626 Total $ 13,417 $ 1,909

Unitholders' Equity (Tables)

Unitholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	The following sets forth unvested STIP RSU grants through March 31, 2022: STIP Grants Number of RSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 34,627 $ 24.50 Granted (1) 286,013 4.89 Forfeited (215) 24.92 Vested (2) (68,776) 31.03 Unvested balance on December 31, 2021 251,649 $ 2.49 Granted 79,670 3.74 Forfeited (2,603) 2.16 Vested (3) (158,844) 2.30 Unvested balance on March 31, 2022 169,872 $ 3.26 ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 12,614 RSUs to preserve the economic value of the unvested RSUs after giving effect to the special dividend made in connection with the IMTT Transaction. During the quarter ended December 31, 2021, the Company granted an additional 228,943 RSUs to preserve the economic value of the unvested RSUs after giving effect to the one-time distribution made in connection with the AA Transaction. (2) As a result of the AA Transaction, the Company's Compensation Committee and Board approved the accelerated vesting of the STIP RSU grants for former eligible employees of Atlantic Aviation and MIC Global Services ("MGS"). These RSUs were fully vested on September 23, 2021. (3) Units related to RSUs vested on March 31, 2022 w ere issued in April 2022. The following sets forth unvested Special RSU grants through March 31, 2022: Special RSU Grants Number of RSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 4,967 $ 40.30 Granted (1) 1,860 — Vested (6,827) 29.32 Unvested balance on December 31, 2021 — $ — ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 1,860 RSUs to preserve the economic value of the unvested RSUs after giving effect to the special dividend made in connection with the IMTT Transaction.
Schedule of Nonvested Performance-based Units Activity	The following sets forth unvested LTIP PSU grants through March 31, 2022 at the target level of performance: LTIP Grants (at Target) Number of PSUs Weighted Average Grant-Date Fair Value Unvested balance on December 31, 2020 71,521 $ 39.47 Granted (1) 1,205,242 5.73 Forfeited (2) (86,384) 31.39 Vested (2) (135,493) 37.93 Unvested balance on December 31, 2021 1,054,886 $ 2.76 Granted 199,016 3.74 Vested (356,124) 2.60 Unvested balance on March 31, 2022 897,778 $ 3.04 ___________ (1) During the quarter ended March 31, 2021, the Company granted an additional 26,004 PSUs to preserve the economic value of the unvested PSUs after giving effect to the special dividend made in connection with the IMTT Transaction. During the quarter ended December 31, 2021, the Company granted an additional 959,700 PSUs to preserve the economic value of the unvested PSUs after giving effect to the one-time distribution made in connection with the AA Transaction. (2) As a result of the AA Transaction, the Company's Compensation Committee and Board approved the accelerated vesting of the LTIP PSU grants for former eligible employees of Atlantic Aviation and MGS. These PSUs were fully vested on September 23, 2021.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following represents the changes and balances to the components of accumulated other comprehensive loss, net of taxes, for the quarter ended March 31, 2022 and 2021 ($ in thousands): Post-Retirement Benefit Plans, net of taxes Total Unitholders’ Accumulated Other Comprehensive Loss, net of taxes Balance on December 31, 2020 $ (6,175) $ (6,175) Balance on March 31, 2021 $ (6,175) $ (6,175) Balance on December 31, 2021 $ (5,106) $ (5,106) Balance on March 31, 2022 $ (5,106) $ (5,106)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Revenue From External Customers	Revenue from external customers were ($ in thousands): Quarter Ended March 31, 2022 2021 Product revenue Lease $ 1,071 $ 890 Gas 64,809 50,751 Other 2,801 2,946 Total revenue $ 68,681 $ 54,587

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Schedule of Dividends Paid to Manager	Since January 1, 2021, the Company paid the Manager cash dividends and/or distributions on units held for the following periods: Declared Period $ Record Payable Cash Paid to Manager September 23, 2021 (1) $ 37.386817 October 4, 2021 October 7, 2021 $ 544,841 December 23, 2020 (2) 11.00 January 5, 2021 January 8, 2021 153,503 ___________ (1) One-time distribution declared and paid out of the proceeds from the AA Transaction. Units of MIH traded with "due-bills" attached through October 7, 2021 and traded ex-distribution on October 8, 2021. (2) Special dividend declared and paid out of the proceeds from the IMTT Transaction. Units of MIH traded with “due-bills” attached through January 8, 2021 and traded ex-dividend on January 11, 2021.
Schedule of Base Management Fees and Performance Fees	The following table shows the Manager's reinvestment of its base management fees and performance fees, if any, in units: Period Base Management Performance Units 2022 Activities: First quarter 2022 $ 800 $ — 219,026 (1) 2021 Activities: Fourth quarter 2021 1,056 — 217,273 Third quarter 2021 7,698 — 195,556 Second quarter 2021 7,551 — 214,040 First quarter 2021 5,552 — 176,296 ___________ (1) The Manager elected to reinvest all monthly base management fees for the quarter ended March 31, 2022 in new primary units. The Company issued 219,026 units for the quarter ended March 31, 2022, including 73,653 units that were issued in April 2022.

Organization and Description _2

Organization and Description of Business (Details) $ / shares in Units, $ in Thousands	Oct. 07, 2021$ / shares	Sep. 23, 2021USD ($)	Sep. 22, 2021$ / shares	Jun. 14, 2021USD ($)$ / shares	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Jun. 07, 2021USD ($)	Oct. 31, 2019business
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of operating businesses | business								3
Disposition payment					$ 0	$ 19
Conversion of stock, conversion ratio			1
AMF Hawaii Holdings, LLC | Completion Date July 1, 2022 Or Earlier | MIC Hawaii Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition, share price (in dollars per share) | $ / shares				$ 3.83
AMF Hawaii Holdings, LLC | Completion Date After July 1, 2022 | MIC Hawaii Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Business acquisition, share price (in dollars per share) | $ / shares				$ 4.11
Disposal Group, Held-for-sale, Not Discontinued Operations | Atlantic Aviation Business
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Consideration from sale of business							$ 4,475,000
Discontinued Operations, Disposed of by Sale | MIC Hawaii Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Distribution made to common unitholders (in dollars per share) | $ / shares			$ 3.70
Discontinued Operations, Disposed of by Sale | Atlantic Aviation Business
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Consideration from sale of business		$ 4,475,000
Disposition payment		228,600
Proceeds from divestiture of business		$ 3,525,000
Special dividend (in dollars per share) | $ / shares	$ 37.386817
Completion Date July 1, 2022 Or Earlier | Disposal Group, Held-for-sale, Not Discontinued Operations | MIC Hawaii Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Disposition payment				$ 81,700
Completion Date After July 1, 2022 | Disposal Group, Held-for-sale, Not Discontinued Operations | MIC Hawaii Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Disposition payment				$ 56,700

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Commercial paper	$ 0	$ 0

Impact of COVID-19 (Details)

Impact of COVID-19 (Details) - visitor visitor in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Impact of COVID-19 [Line Items]
Reduction of number of visitor arrivals to Hawaii for period three years prior current period	21.00%
Hawaii Gas Business
Impact of COVID-19 [Line Items]
Number of visitor arrivals to Hawaii during period	2,000	847
Increase in gas consumption for quarter period one year prior current period	11.00%
Gas reduction for quarter period three years prior current period	13.00%

Discontinued Operations and D_3

Discontinued Operations and Dispositions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 07, 2021	Sep. 23, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposition payment			$ 0	$ 19
Atlantic Aviation Business | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration from sale of business		$ 4,475,000
Proceeds from divestiture of business		3,525,000
Disposition payment		228,600
Special dividend (in dollars per share)	$ 37.386817
Gain (loss) on disposition of business		2,950,000
Transaction costs on business disposal		$ 50,200

Discontinued Operations and D_4

Discontinued Operations and Dispositions - Statement of Operations (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income from discontinued operations before income taxes	[1]	$ 0	$ 27,615
Provision for income taxes	[1]	0	(7,548)
Net income from discontinued operations attributable to MIH		$ 0	20,067
Atlantic Aviation Business | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of services			(82,233)
Selling, general and administrative expenses			(65,411)
Depreciation and amortization			(23,771)
Interest expense, net			(11,412)
Other income, net			838
Net income from discontinued operations before income taxes			27,615
Provision for income taxes			(7,548)
Net income from discontinued operations attributable to MIH			20,067
Service | Atlantic Aviation Business | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Service revenue			$ 209,604
[1]	See Note 4, “Discontinued Operations and Dispositions”, for further discussions on businesses classified as held for sale.

Income per Unit - Schedule of R

Income per Unit - Schedule of Reconciliation of the Basic and Diluted Income (Loss) per Unit Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2016
Numerator:
Net income (loss) from continuing operations attributable to MIH	$ 11,142	$ (6,867)
Interest expense attributable to 2.00% Convertible Senior Notes, net of taxes	27	0
Diluted net income (loss) from continuing operations attributable to MIH	11,169	(6,867)
Basic net income from discontinued operations attributable to MIH	0	20,067
Diluted net income from discontinued operations attributable to MIH	$ 0	$ 20,067
Denominator:
Weighted average number of units outstanding: basic (in shares)	88,494,560	87,411,455
Dilutive effect of restricted stock unit grants (in shares)	254,541	0
Dilutive effect of convertible Senior Notes (in shares)	1,111,293	0
Weighted average number of units outstanding: diluted (in shares)	89,860,394	87,411,455
Income per unit:
Basic income (loss) per unit from continuing operations attributable to MIH (in dollars per shares)	$ 0.13	$ (0.08)
Basic income per unit from discontinued operations attributable to MIH (in dollars per share)	0	0.23
Basic income per unit attributable to MIH (in dollars per share)	0.13	0.15
Diluted income (loss) per unit from continuing operations attributable to MIH (in dollars per share)	0.12	(0.08)
Diluted income per unit from discontinued operations attributable to MIH (in dollars per share)	0	0.23
Diluted income per unit attributable to MIH (in dollars per share)	$ 0.12	$ 0.15
2.00% Convertible Senior Notes due October 2023
Numerator:
Interest rate, stated percentage	2.00%	2.00%	2.00%

Income per Unit - Schedule of S

Income per Unit - Schedule of Shares Excluded from Calculation (Details) - USD ($) $ in Thousands	Oct. 22, 2021	Mar. 16, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Oct. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			0	4,259,668
Debt repurchased			$ 274	$ 358,843
2.00% Convertible Senior Notes due October 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate, stated percentage			2.00%	2.00%		2.00%
Debt repurchased	$ 26,900	$ 358,600		$ 358,600	$ 395,700
Restricted unit grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			0	83,843
2.00% Convertible Senior Notes due October 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)			0	4,175,825
Interest rate, stated percentage			2.00%	2.00%

Property, Equipment, Land, an_3

Property, Equipment, Land, and Leasehold Improvements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 432,245	$ 427,117
Less: accumulated depreciation	(133,499)	(129,927)
Property, equipment, land, and leasehold improvements, net	298,746	297,190
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	10,710	10,710
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,533	4,427
Leasehold and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,098	20,003
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	378,948	376,924
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,740	3,740
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 14,216	$ 11,313

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill -Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 16,000	$ 16,000
Less: accumulated amortization	(11,608)	(11,502)
Intangible assets, net	4,392	4,498
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	7,400	7,400
Trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	8,500	8,500
Leasehold rights
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 100	$ 100

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 120,193	$ 120,193

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2016
Debt Instrument [Line Items]
Total Debt	$ 99,245	$ 99,519
Current portion	(1,118)	(1,107)
Long-term portion	98,127	98,412
Unamortized deferred financing costs	(684)	(757)
Long-term portion less unamortized debt discount and debt financing costs	$ 97,443	97,655
Weighted average life of deferred financing costs	2 years 8 months 12 days
Loans Payable | Term Loan - Hawaii Gas
Debt Instrument [Line Items]
Total Debt	$ 80,000	80,000
Loans Payable | Term Loan - Solar Facilities in Hawaii
Debt Instrument [Line Items]
Total Debt	12,424	12,698
2.00% Convertible Senior Notes
Debt Instrument [Line Items]
Total Debt	$ 6,821	$ 6,821	$ 375,800
Unamortized deferred financing costs			$ (11,200)

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Oct. 22, 2021USD ($)	Apr. 19, 2021USD ($)	Mar. 16, 2021USD ($)	Jan. 01, 2021USD ($)	Oct. 31, 2016USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Jan. 18, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt outstanding						$ 99,245,000		$ 99,519,000
Unamortized deferred financing costs						684,000		757,000
Debt repurchased						$ 274,000	$ 358,843,000
2.00% Convertible Senior Notes due October 2023
Debt Instrument [Line Items]
Interest rate, stated percentage					2.00%	2.00%	2.00%
Debt instrument, term					7 years
Convertible senior notes					$ 402,500,000
Debt outstanding					$ 375,800,000	$ 6,821,000		6,821,000
Interest rate, effective					3.10%
Equity component of convertible senior notes (reversal of equity component of convertible senior notes)					$ 26,700,000
Unamortized deferred financing costs					11,200,000
Issuance costs					$ 744,000
Debt repurchased	$ 26,900,000		$ 358,600,000				$ 358,600,000	395,700,000
Transaction cost								1,200,000
Write-off of debt financing cost			$ 3,700,000			0	$ 3,644,000
Debt instrument, fair value disclosure						$ 6,600,000		6,800,000
Convertible conversion ratio						0.1629223
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Debt Instrument [Line Items]
Balance as of period date										$ 7,000,000
Accounting Standards Update 2020-06 | 2.00% Convertible Senior Notes due October 2023
Debt Instrument [Line Items]
Equity component of convertible senior notes (reversal of equity component of convertible senior notes)				$ (26,700,000)
Hawaii Gas Business | Senior Notes
Debt Instrument [Line Items]
Transaction cost		$ 4,700,000
Write-off of debt financing cost		154,000
Debt repurchased, face amount		$ 100,000,000
Term Loan Facility | Hawaii Gas Business
Debt Instrument [Line Items]
Borrowing capacity						$ 80,000,000		80,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity									$ 600,000,000
Revolving Credit Facility | Hawaii Gas Business
Debt Instrument [Line Items]
Undrawn portion of line of credit						$ 60,000,000		$ 60,000,000

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	Mar. 16, 2021	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2016
Debt Instrument [Line Items]
Amortization of debt financing cost		$ 73	$ 4,084
2.00% Convertible Senior Notes due October 2023
Debt Instrument [Line Items]
Interest rate, stated percentage		2.00%	2.00%	2.00%
Contractual interest expense		$ 34	$ 1,754
Amortization of debt financing cost		0	345
Write-off of debt financing cost	$ 3,700	0	3,644
Total interest expense		$ 34	$ 5,743

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) gal in Millions	Mar. 31, 2022gal
MIC Hawaii | Hawaii Gas Business | Commodity Price Hedges | MIC Hawaii Holdings, LLC
Derivative [Line Items]
Nonmonetary notional amount, volume (in gallons)	61.7

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative instruments - other current assets	$ 8,344	$ 909
Fair value of derivative instruments - other noncurrent assets	4,078	470
Total derivative contracts - assets	12,422	1,379
Fair value of derivative instruments - other current liabilities	0	(122)
Total derivative contracts – liabilities	$ 0	$ (122)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Location of Hedging Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 13,417	$ 1,909
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	489	283
Interest Expense | Interest expense - interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	489	283
Cost of product sales | Cost of product sales - commodity swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 12,928	$ 1,626

Unitholders' Equity - Narrative

Unitholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	May 19, 2021	May 14, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
2014 Plan | Director Share Units
Shares Activity [Line Items]
Number of shares granted	25,974	32,112
Granted, fair value (in dollars per share)	$ 34.90	$ 27.43
Granted (in shares)				12,024
Compensation expense				$ 225
Short Term Incentive Plan | STIP Grants
Shares Activity [Line Items]
Granted, fair value (in dollars per share)			$ 3.74		$ 4.89
Granted (in shares)			79,670		286,013
Compensation expense			$ 354
Cash component of an incentive award			75.00%
Unit component of an incentive award			25.00%
Share-based payment award performance period			1 year
Vesting period			2 years
Weighted average grant date fair value of nonvested awards			$ 554
Weighted average period of unrecognized compensation costs			1 year
Number of shares issued, net of forfeitures			169,872		251,649	34,627
Short Term Incentive Plan | STIP Grants | Atlantic Aviation Business And MIC Global Services | Discontinued Operations, Disposed of by Sale
Shares Activity [Line Items]
Compensation expense				309
Short Term Incentive Plan | Tranche 1 | STIP Grants
Shares Activity [Line Items]
Vesting percentage			50.00%
Short Term Incentive Plan | Tranche 2 | STIP Grants
Shares Activity [Line Items]
Vesting percentage			50.00%
2019 Short Term Incentive Plan | Special RSU Grants
Shares Activity [Line Items]
Granted, fair value (in dollars per share)					$ 0
Granted (in shares)					1,860
Compensation expense				200
Number of shares issued, net of forfeitures					0	4,967
Long Term Incentive Plan | LTIP Grants
Shares Activity [Line Items]
Granted, fair value (in dollars per share)			$ 3.74		$ 5.73
Granted (in shares)			199,016		1,205,242
Compensation expense			$ 298
Weighted average period of unrecognized compensation costs			1 year 7 months 6 days
Number of shares issued, net of forfeitures			897,778		1,054,886	71,521
Grant date fair value of awards			$ 2,700
Unrecognized compensation costs			$ 897
Long Term Incentive Plan | LTIP Grants | Atlantic Aviation Business And MIC Global Services | Discontinued Operations, Disposed of by Sale
Shares Activity [Line Items]
Compensation expense				$ 1,500
Long Term Incentive Plan | Minimum | LTIP Grants
Shares Activity [Line Items]
Number of shares issued, net of forfeitures			0
Long Term Incentive Plan | Maximum | LTIP Grants
Shares Activity [Line Items]
Number of shares issued, net of forfeitures			1,571,112
Two Thousand Nineteen Long Term Incentive Plan
Shares Activity [Line Items]
Share-based payment award performance period			3 years

Unitholders' Equity - Schedule

Unitholders' Equity - Schedule of Unvested Stock Unit (Details) - $ / shares	1 Months Ended	3 Months Ended			12 Months Ended
	Jan. 31, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2021
Short Term Incentive Plan | STIP Grants
Number of Units
Unvested beginning balance (in shares)	34,627	251,649		34,627	34,627
Granted (in shares)		79,670			286,013
Forfeited (in shares)		(2,603)			(215)
Vested (in shares)		(158,844)			(68,776)
Unvested ending balance (in shares)		169,872	251,649		251,649
Weighted Average Grant-Date Fair Value (per unit)
Unvested beginning balance (in dollars per share)	$ 24.50	$ 2.49		$ 24.50	$ 24.50
Granted (in dollars per share)		3.74			4.89
Forfeited (in dollars per share)		2.16			24.92
Vested (in dollars per share)		2.30			31.03
Unvested ending balance (in dollars per share)		$ 3.26	$ 2.49		$ 2.49
Short Term Incentive Plan | Make Whole Grant For Special Dividend, STIP Grants
Number of Units
Granted (in shares)				12,614
2019 Short Term Incentive Plan | Make Whole Grant Related To Atlantic Aviation Transaction, STIP Grants
Number of Units
Granted (in shares)			228,943
2019 Short Term Incentive Plan | Special RSU Grants
Number of Units
Unvested beginning balance (in shares)	4,967	0		4,967	4,967
Granted (in shares)					1,860
Vested (in shares)					(6,827)
Unvested ending balance (in shares)			0		0
Weighted Average Grant-Date Fair Value (per unit)
Unvested beginning balance (in dollars per share)	$ 40.30	$ 0		$ 40.30	$ 40.30
Granted (in dollars per share)					0
Vested (in dollars per share)					29.32
Unvested ending balance (in dollars per share)			$ 0		$ 0
2019 Short Term Incentive Plan | Make Whole Grant For Special Dividend, Special RSU Grants
Number of Units
Granted (in shares)				1,860
Long Term Incentive Plan | LTIP Grants
Number of Units
Unvested beginning balance (in shares)	71,521	1,054,886		71,521	71,521
Granted (in shares)		199,016			1,205,242
Forfeited (in shares)					(86,384)
Vested (in shares)		(356,124)			(135,493)
Unvested ending balance (in shares)		897,778	1,054,886		1,054,886
Weighted Average Grant-Date Fair Value (per unit)
Unvested beginning balance (in dollars per share)	$ 39.47	$ 2.76		$ 39.47	$ 39.47
Granted (in dollars per share)		3.74			5.73
Forfeited (in dollars per share)					31.39
Vested (in dollars per share)		2.60			37.93
Unvested ending balance (in dollars per share)		$ 3.04	$ 2.76		$ 2.76
Long Term Incentive Plan | Make Whole Grant For Special Dividend, LTIP Grants
Number of Units
Granted (in shares)	26,004
Two Thousand Nineteen Long Term Incentive Plan | Make Whole Grant Related To Atlantic Aviation Transaction, LTIP Grants
Number of Units
Granted (in shares)			959,700

Unitholders' Equity - Schedul_2

Unitholders' Equity - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Total Unitholders’ Accumulated Other Comprehensive Loss, net of taxes
Class of Stock [Line Items]
Balance as of period date	$ (5,106)	$ (5,106)	$ (6,175)	$ (6,175)
Post-Retirement Benefit Plans, net of taxes
Class of Stock [Line Items]
Balance as of period date	$ (5,106)	$ (5,106)	$ (6,175)	$ (6,175)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - MIC Hawaii Holdings, LLC	3 Months Ended
	Mar. 31, 2022facility
Disaggregation of Revenue [Line Items]
Number of solar projects	2
Minimum
Disaggregation of Revenue [Line Items]
Life of purchase power agreements	20 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue from External Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 68,681	$ 54,587
Lease
Disaggregation of Revenue [Line Items]
Total revenue	1,071	890
Gas
Disaggregation of Revenue [Line Items]
Total revenue	64,809	50,751
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,801	$ 2,946

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)

Sep. 23, 2021

Jun. 14, 2021

Oct. 30, 2019

Dec. 31, 2020

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Mar. 31, 2022

Jan. 18, 2021

Related Party Transaction [Line Items]

Percentage of shares held by manager

16.82%

16.82%

Base management fees to be settled

$ 800,000

$ 1,056,000

$ 7,698,000

$ 7,551,000

$ 5,552,000

Performance fees

0

$ 0

$ 0

$ 0

0

Percentage of cap on base management fee

1.00%

Disposition agreement, qualifying termination event, minimum due upon sale or sales of businesses

$ 50,000,000

Disposition agreement, qualifying termination event, percentage applied above threshold

1.50%

Disposition agreement, qualifying termination event, threshold, net proceeds

$ 500,000,000

Disposition agreement, potential extension period for additional payment subject to qualifying termination event occurring on or prior to January 1, 2022

6 months

Disposition agreement, qualifying termination event, additional payment

$ 25,000,000

Disposition agreement, minimum management fee for years one and two

$ 20,000,000

Disposition agreement, minimum management fee for years one and two

2 years

Disposition agreement, minimum management fee for years three and thereafter

$ 10,000,000

Recapture amount of previously waived management fees

$ 8,500,000

Disposition agreement, maximum period without qualifying termination event

sixth anniversary

Disposition payment

$ 0

19,000

Revolving Credit Facility

Related Party Transaction [Line Items]

Borrowing capacity

$ 600,000,000

Management

Related Party Transaction [Line Items]

Number of shares held by manager

14,937,119

14,719,423

14,937,119

Base management fees to be settled

$ 800,000

5,600,000

Notice period (not less than)

1 year

Reimbursement of out-of-pocket expenses

1,000

0

Legal fees

$ 30,000

Legal fee credit

$ 30,000

Macquarie Capital Funding LLC | Revolving Credit Facility

Related Party Transaction [Line Items]

Borrowing capacity

$ 40,000,000

Interest costs incurred

$ 8,000

Minimum

Related Party Transaction [Line Items]

Disposition agreement, percentage of net proceeds due upon sale or sales of businesses

2.90%

Maximum

Related Party Transaction [Line Items]

Disposition agreement, percentage of net proceeds due upon sale or sales of businesses

6.10%

Discontinued Operations, Disposed of by Sale | IMTT

Related Party Transaction [Line Items]

Disposition payment

$ 28,200,000

Discontinued Operations, Disposed of by Sale | Atlantic Aviation Business

Related Party Transaction [Line Items]

Disposition payment

$ 228,600,000

Disposal Group, Held-for-sale, Not Discontinued Operations | MIC Hawaii Holdings, LLC | Completion Date After July 1, 2022

Related Party Transaction [Line Items]

Disposition payment

$ 56,700,000

Disposal Group, Held-for-sale, Not Discontinued Operations | MIC Hawaii Holdings, LLC | Completion Date July 1, 2022 Or Earlier

Related Party Transaction [Line Items]

Disposition payment

81,700,000

Additional disposition payment

$ 25,000,000

Related Party Transactions - Sc

Related Party Transactions - Schedule of Dividends Paid to Manager (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 07, 2021	Sep. 23, 2021	Jan. 08, 2021	Dec. 23, 2020
Related Party Transactions [Abstract]
Cash dividend declared per share (in dollars per share)		$ 37.386817		$ 11
Cash Paid to Manager	$ 544,841		$ 153,503

Related Party Transactions - _2

Related Party Transactions - Schedule of Base Management Fees and Performance Fees (Details) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Subsequent Event [Line Items]
Base Management Fee Amount		$ 800,000	$ 1,056,000	$ 7,698,000	$ 7,551,000	$ 5,552,000
Performance Fee Amount		$ 0	$ 0	$ 0	$ 0	$ 0
Shares Issued (in shares)		219,026	217,273	195,556	214,040	176,296
Subsequent Event
Subsequent Event [Line Items]
Number of shares issued subsequent for base management fees to manager	73,653

Uncategorized Items - mic-20220

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]