v2.4.0.8
Quarterly Financial Data
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
Quarterly Financial Data (unaudited)

Summarized quarterly financial data is as follows (in thousands, except per unit amounts):
 
2012
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenue
 
$
493,483

 
$
449,527

 
$
325,869

 
$
503,195

Total costs and expenses
 
$
372,318

 
$
283,724

 
$
248,334

 
$
318,601

Operating margin
 
$
178,067

 
$
224,181

 
$
138,527

 
$
248,698

Net income
 
$
93,524

 
$
137,821

 
$
50,522

 
$
153,803

Basic and diluted net income per limited partner unit
 
$
0.41

 
$
0.61

 
$
0.22

 
$
0.68

 
 
 
 
 
 
 
 
 
2013
 
 
 
 
 
 
 
 
Revenue
 
$
432,421

 
$
443,912

 
$
443,835

 
$
577,438

Total costs and expenses
 
$
291,967

 
$
260,191

 
$
291,586

 
$
355,081

Operating margin
 
$
208,893

 
$
251,905

 
$
222,649

 
$
296,335

Net income
 
$
112,967

 
$
153,640

 
$
125,623

 
$
190,007

Basic net income per limited partner unit
 
$
0.50

 
$
0.68

 
$
0.55

 
$
0.84

Diluted net income per limited partner unit
 
$
0.50

 
$
0.68

 
$
0.55

 
$
0.83



In mid-April 2013, we began making deliveries of crude oil from our Longhorn pipeline, which significantly benefited our operations. Further, during 2013, we completed the acquisition of the New Mexico/Texas and Rocky Mountain pipeline systems from Plains, which benefited our results of operations for the year, particularly in the fourth quarter. Also, second quarter 2013 results were benefited by the $10.6 million accrual reversal related to the Section 185 CAA liability (see Note 17--Commitments and Contingencies for further discussion of this matter).