v3.3.1.900
Combined Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Affiliate [1] $ 615 $ 497 $ 273
Third-party [1] 497 103 40
Total Revenues [1] 1,112 600 313
Costs and Expenses      
Operating and maintenance expenses [1] 451 308 184
Imbalance settlement gains and reimbursements [1] (40) (43) (12)
General and administrative expenses [1] 102 74 32
Depreciation and amortization expenses [1],[2] 179 78 46
Loss (gain) on asset disposals and impairments [1] 1 (4) 0
Total Costs and Expenses [1] 693 413 250
Operating Income [1] 419 187 63
Interest and financing costs, net [1] (150) (109) (39)
Equity in earnings of unconsolidated affiliates [1] 7 1 0
Earnings Before Income Taxes [1] 276 79 24
Income tax expense [1] 1 0 0
Net Earnings [1] 275 79 24
Loss attributable to Predecessors [1] 17 [3] 23 [4] 56
Net earnings attributable to noncontrolling interest [1] (20) (3) 0
Net income attributable to partners [1] 272 99 80
General partner's interest in net earnings, including incentive distribution rights [1] (73) (43) (12)
Limited partners’ interest in net earnings [1] $ 199 $ 56 $ 68
Net earnings per limited partner unit:      
Common - basic (dollars per unit) $ 2.33 [5] $ 0.96 [5] $ 1.48
Common - diluted (dollars per unit) 2.33 [5] 0.96 [5] 1.47
Subordinated - basic and diluted (dollars per unit) $ 0.00 $ 0.62 [5] $ 1.35
Weighted average limited partner units outstanding:      
Common units - basic (units) 84.7 54.2 31.5
Common units - diluted (units) 84.8 54.2 31.6
Subordinated units - basic and diluted (units) [6] 0.0 5.6 15.3
Cash distributions paid per unit $ 2.8350 $ 2.4125 $ 2.0175
[1] All periods include the historical results of the Predecessors. See Notes 1 and 2 for further discussion.
[2] Adjusted to include the historical results of the Predecessors. See Notes 1 and 2 for further discussion.
[3] Amounts attributable to Predecessors have been reflected in the Parent column.
[4] Amounts attributable to Predecessors have been reflected in the Parent column.
[5] The sum of four quarters may not equal annual results due to rounding or the quarterly number of shares outstanding.
[6] On May 16, 2014, the subordinated units were converted into common units on a one-for-one basis and thereafter participate on terms equal with all other common units in distributions of available cash. Distributions and the Partnership’s net earnings were allocated to the subordinated units through May 15, 2014.