v3.5.0.2
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The table below presents the final purchase price allocation (in millions):
 
December 31, 2015
Cash
$
32

Accounts receivable
120

Prepayments and other
3

Property, plant and equipment
1,695

Intangibles
1,008

Goodwill
121

Investment in unconsolidated affiliates
59

Other noncurrent assets
25

Accounts payable
(56
)
Other current liabilities
(53
)
Other noncurrent liabilities
(5
)
Noncontrolling interest
(433
)
Total purchase price
$
2,516
Acquisition  
Business Acquisition, Financial Information
The following are the results of the West Coast Logistics Assets operations, prior to the West Coast Logistics Assets respective acquisitions’ dates on July 1, 2014 and September 30, 2014, for the years ended December 31, 2014 and 2013. The results of the West Coast Logistics Assets, subsequent to each respective acquisition date, have been included in TLLP’s consolidated results.
 
Years Ended December 31,
 
2014
 
2013
 
(In millions)
Revenues
$
6

 
$
8

Total costs and expenses
(10
)
 
(15
)
Net loss
$
(4
)
 
$
(7
)
Rockies Natural Gas Business Acquisition  
Acquisition  
Business Acquisition, Pro Forma Information
The unaudited pro forma financial information below reflects adjustments to exclude $8 million of nonrecurring accelerated amortization of certain QEPFS deferred issuance costs and the $33 million of transaction costs as a result of the Rockies Natural Gas Business Acquisition for the year ended December 31, 2014.
 
Years Ended December 31,
 
2014
 
2013
 
(In millions, except per unit amounts)
Revenues
$
936

 
$
689

Net earnings
101

 
55

Net earnings attributable to partners
106

 
105


 
 
 
Net earnings per limited partner unit:
 
 
 
Common - basic and diluted
$
0.77

 
$
1.23

Subordinated - basic and diluted
$
1.13

 
$
1.39
Northwest Products System  
Acquisition  
Business Acquisition, Pro Forma Information
The amounts presented below have not been adjusted to include the pro forma results of the Rockies Natural Gas Business Acquisition:
 
Year Ended
December 31, 2013
 
(In millions, except per unit amounts)
Revenues
$
335

Net earnings
23

Net earnings attributable to partners
84

 
 
Net earnings per limited partner unit:
 
Common - basic
$
1.56

Common - diluted
$
1.56

Subordinated - basic and diluted
$
1.46


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