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Partners' Capital and Distributions | 12 Months Ended
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Dec. 31, 2014
Partners' Capital Notes [Abstract] |
Partners' Capital And Distributions | 11. Partners’ Capital and Distributions At December 31, 2014, our outstanding equity consisted of 94,989,221 Class A common units and 39,997 Class B common units. The Class A units are traditional common units in us. The Class B units are identical to the Class A units and, accordingly, have voting and distribution rights equivalent to those of the Class A units, and, in addition, the Class B units have the right to elect all of our board of directors and are convertible into Class A units under certain circumstances, subject to certain exceptions. Our outstanding equity also included non-voting securities -- waiver units -- that were entitled to a minimal quarterly distribution until conversion into Class A common units at a 1 to 1 ratio. As of December 31, 2014, all of our waiver units had been converted into common units. Distributions Generally, we will distribute 100% of our available cash (as defined by our partnership agreement) within 45 days after the end of each quarter to unitholders of record. Available cash consists generally of all of our cash receipts less cash disbursements adjusted for net changes to reserves. We paid distributions in 2015, 2014 and 2013 as follows:
Distribution For | Date Paid |  | Per Unit Amount |  | Total Amount
2012 |  |  |  |  |
4th Quarter | February 14, 2013 |  | $ | 0.4850 |  |  | $ | 39,390 |
2013 |  |  |  |  |
1st Quarter | May 15, 2013 |  | $ | 0.4975 |  |  | $ | 40,405 |
2nd Quarter | August 14, 2013 |  | $ | 0.5100 |  |  | $ | 42,302 |
3rd Quarter | November 14, 2013 |  | $ | 0.5225 |  |  | $ | 46,344 |
4th Quarter | February 14, 2014 |  | $ | 0.5350 |  |  | $ | 47,453 |
2014 |  |  |  |  |
1st Quarter | May 15, 2014 |  | $ | 0.5500 |  |  | $ | 48,783 |
2nd Quarter | August 14, 2014 |  | $ | 0.5650 |  |  | $ | 50,114 |
3rd Quarter | November 14, 2014 |  | $ | 0.5800 |  |  | $ | 54,112 |
4th Quarter | February 13, 2015 |  | $ | 0.5950 |  |  | $ | 56,542 |
Equity Issuances and Contributions Our partnership agreement authorizes our general partner to cause us to issue additional limited partner interests and other equity securities, the proceeds from which could be used to provide additional funds for acquisitions or other needs. In September 2014, we issued 4,600,000 Class A common units in a public offering at a price of $50.71 per unit. We received proceeds, net of underwriting discounts and offering costs, of approximately $225.7 million from that offering. We used the net proceeds for general partnership purposes, including the repayment of outstanding borrowings under our revolving credit facility. In September 2013, we issued 5,750,000 Class A common units in a public offering at a price of $47.51 per unit. We received proceeds, net of underwriting discounts and offering costs, of approximately $263.6 million from that offering. We used the net proceeds for general partnership purposes, including the repayment of outstanding borrowings under our revolving credit facility. In March 2012, we issued 5,750,000 Class A common units in a public offering at a price of $30.80 per unit. We received proceeds, net of underwriting discounts and offering costs, of $169.4 million from the offering. The net proceeds were used for general corporate purposes, including the repayment of borrowings under our credit facility. The new common units issued in 2014, 2013 and 2012 to the public for cash were as follows:
Period | Purchaser of Common Units | Units |  | Gross Unit Price |  | Issuance Value |  | Costs |  | Net Proceeds
September 2014 | Public | 4,600 |  |  | $ | 50.71 |  |  | $ | 233,266 |  |  | $ | (7,541 | ) |  | $ | 225,725 |
September 2013 | Public | 5,750 |  |  | $ | 47.51 |  |  | $ | 273,183 |  |  | $ | (9,609 | ) |  | $ | 263,574 |
March 2012 | Public | 5,750 |  |  | $ | 30.80 |  |  | $ | 177,100 |  |  | $ | (7,679 | ) |  | $ | 169,421 |

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- 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 272 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70434-108055 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 5 -Subparagraph (SAB TOPIC 4.F) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187171-122770 + Details
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