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Partners' Capital and Distributions (Tables)
 12 Months Ended
Dec. 31, 2015
Partners' Capital and Distributions  
Per unit cash distributions and the portion of the distributions representing an excess over the MQD

 

 

 

Year

 

 

 

2015

 

2014

 

2013

 

 

 

 

 

Excess

 

 

 

Excess

 

 

 

Excess

 

 

 

Distribution (1)

 

over MQD

 

Distribution (1)

 

over MQD

 

Distribution (1)

 

over MQD

 

First Quarter

 

$
0.6750 

 

$
0.4500 

 

$
0.6150 

 

$
0.3900 

 

$
0.5625 

 

$
0.3375 

 

Second Quarter

 

$
0.6850 

 

$
0.4600 

 

$
0.6300 

 

$
0.4050 

 

$
0.5750 

 

$
0.3500 

 

Third Quarter

 

$
0.6950 

 

$
0.4700 

 

$
0.6450 

 

$
0.4200 

 

$
0.5875 

 

$
0.3625 

 

Fourth Quarter

 

$
0.7000 

 

$
0.4750 

 

$
0.6600 

 

$
0.4350 

 

$
0.6000 

 

$
0.3750 

 

 

(1)

Distributions represent those declared and paid in the applicable period shown.

 

Schedule of distributions paid, net of reductions in the general partner's incentive distributions

 

 

 

Distributions Paid

 

Distributions per

 

Year

 

Common Unitholders

 

General Partner

 

Total

 

common unit

 

2015

 

$
1,081 

 

$
590 

 

$
1,671 

 

 

$
2.755 

 

2014

 

$
934 

 

$
473 

 

$
1,407 

 

 

$
2.550 

 

2013

 

$
791 

 

$
369 

 

$
1,160 

 

 

$
2.325 

 

 

Issuance of common units

 

Year

 

Type of Offering

 

Units Issued

 

Net Proceeds (1)(2)

 

2015

 

Continuous Offering Program

 
1,133,904 

 

$
59 

(3)

2015

 

Underwritten Offering

 
21,000,000 

 
1,062 

 

 

 

 

 

 

 

 

 

2015 Total

 

 

 
22,133,904 

 

$
1,121 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Total

 

Continuous Offering Program

 
15,375,810 

 

$
866 

(3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 Total

 

Continuous Offering Program

 
8,644,807 

 

$
477 

(3)

 

 

 

 

 

 

 

 

 

 

(1)

Amounts are net of costs associated with the offerings.

 

(2)

Amounts include our general partner’s proportionate capital contributions of $22 million, $18 million and $9 million during 2015, 2014 and 2013, respectively.

 

(3)

We pay commissions to our sales agents in connection with common unit issuances under our Continuous Offering Program. We paid $1 million, $9 million and $5 million of such commissions during 2015, 2014 and 2013, respectively.

 

Schedule of effect of changes in the entity's ownership interest in subsidiary on partner's capital

 

 

 

Year Ended

 

 

 

December 31, 2013

 

Net income attributable to PAA

 

$
1,361

 

 

 

 

 

 

Transfers to/from noncontrolling interests:

 

 

 

Increase in capital from sale of PNG common units

 
8

 

Decrease in capital from purchase of PNG common units in conjunction with the PNG Merger

 
(290

)

 

 

 

 

Net transfers to/from noncontrolling interests

 
(282

)

 

 

 

 

Change from net income attributable to PAA and transfers to/from noncontrolling interests

 

$
1,079