XML 36 R18.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Partners' Capital and Distributions | 3 Months Ended
--- | ---
Mar. 31, 2018
Partners' Capital Notes [Abstract] |
Partners' Capital and Distributions | Partners’ Capital and Distributions Units Outstanding The following tables present the activity for our preferred and common units:
| Limited Partners
| Series A Preferred Units |  | Series B Preferred Units |  | Common Units
Outstanding at December 31, 2017 | 69,696,542 |  |  | 800,000 |  |  | 725,189,138 |
Issuance of Series A preferred units in connection with in-kind distribution | 1,393,926 |  |  | — |  |  | — |
Issuances of common units under LTIP | — |  |  | — |  |  | 17,766 |
Outstanding at March 31, 2018 | 71,090,468 |  |  | 800,000 |  |  | 725,206,904 |
| Limited Partners
| Series A Preferred Units |  | Common Units
Outstanding at December 31, 2016 | 64,388,853 |  |  | 669,194,419 |
Issuance of Series A preferred units in connection with in-kind distribution | 1,287,773 |  |  | — |
Sales of common units | — |  |  | 54,119,893 |
Issuances of common units under LTIP | — |  |  | 90,682 |
Outstanding at March 31, 2017 | 65,676,626 |  |  | 723,404,994 |
Distributions Common Unit Distributions. The following table details distributions paid during or pertaining to the first three months of 2018 (in millions, except per unit data):
|  | Distributions |  |  | Cash Distribution per Common Unit
|  | Common Unitholders |  | Total Cash Distribution |  |
Distribution Payment Date |  | Public |  | AAP |  |  |
May 15, 2018 (1) |  | $ | 133 |  |  | $ | 85 |  |  | $ | 218 |  |  |  | $ | 0.30 |
February 14, 2018 |  | $ | 133 |  |  | $ | 85 |  |  | $ | 218 |  |  |  | $ | 0.30 |
(1) | Payable to unitholders of record at the close of business on May 1, 2018 for the period from January 1, 2018 through March 31, 2018.
Series A Preferred Unit Distributions. With respect to any quarter ending on or prior to December 31, 2017 (the “Initial Distribution Period”), we were able to elect to pay distributions on our Series A preferred units in additional preferred units, in cash or a combination of both. On February 14, 2018, we issued 1,393,926 Series A preferred units in lieu of a cash distribution of $37 million on our Series A preferred units outstanding as of January 31, 2018, the record date for such distribution. The Initial Distribution Period ended with the February 2018 distribution; as such, with respect to any quarter ending after the Initial Distribution Period, we must pay distributions on our Series A preferred units in cash. On May 15, 2018, we will pay a cash distribution of $37 million ($0.525 per unit) on our Series A preferred units outstanding as of May 1, 2018, the record date for such distribution, for the period from January 1, 2018 through March 31, 2018. At March 31, 2018, such amount was accrued to distributions payable (in “Accounts payable and accrued liabilities” on our Condensed Consolidated Balance Sheet). The purchasers may convert their Series A preferred units into common units, generally on a one-for-one basis and subject to customary anti-dilution adjustments, at any time, in whole or in part, subject to certain minimum conversion amounts (and not more often than once per quarter). Series B Preferred Unit Distributions. On May 15, 2018, we will pay the semi-annual cash distribution of $24.5 million ($30.625 per unit) on our Series B preferred units to holders of record at the close of business on May 1, 2018, for the period from November 15, 2017 through May 14, 2018. As of March 31, 2018, we had accrued approximately $18 million of distributions payable to our Series B preferred unitholders (in “Accounts payable and accrued liabilities” on our Condensed Consolidated Balance Sheet).

X
- References No definition available. + Details
Name: | us-gaap_PartnersCapitalNotesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_PartnersCapitalNotesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration