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Partners' Capital and Distributions
 3 Months Ended
Mar. 31, 2014
Partners' Capital and Distributions  
Partners' Capital and Distributions

Note 8—Partners’ Capital and Distributions

 

Distributions

 

The following table details the distributions paid during or pertaining to the first three months of 2014, net of reductions to the general partner’s incentive distributions (in millions, except per unit amounts):

 

 

 

 

 

Distributions Paid

 

Distributions

 

 

 

 

 

Common

 

General Partner

 

 

 

per limited

 

Date Declared

 

Date Paid or To Be Paid

 

Units

 

Incentive

 

2%

 

Total

 

partner unit

 

April 7, 2014

 

May 15, 2014 (1)

 

$

229

 

$

110

 

$

5

 

$

344

 

$

0.6300

 

January 9, 2014

 

February 14, 2014

 

$

221

 

$

102

 

$

5

 

$

328

 

$

0.6150

 

 

(1)                                  Payable to unitholders of record at the close of business on May 2, 2014 for the period January 1, 2014 through March 31, 2014.

 

Continuous Offering Program

 

During the three months ended March 31, 2014, we issued an aggregate of approximately 2.8 million common units under our continuous offering program, generating proceeds of approximately $151 million, including our general partner’s proportionate capital contribution, net of approximately $1 million of commissions to our sales agents.

 

Noncontrolling Interests in Subsidiaries

 

As of March 31, 2014, noncontrolling interests in subsidiaries consisted of a 25% interest in SLC Pipeline LLC. On December 31, 2013, we purchased the noncontrolling interests in PNG, and PNG became our wholly-owned subsidiary (the “PNG Merger”).