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Subsequent Events | 12 Months Ended
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Dec. 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Recognizable events No recognizable events have occurred subsequent to December 31, 2018. Non-recognizable events On January 18, 2019, we issued $500.0 million of 4.85% senior notes due 2049 in an underwritten public offering. The notes were issued at 99.371% of par. Net proceeds from this offering were approximately $492.5 million after underwriting discounts. The net proceeds from this offering along with cash on hand were used to redeem our 6.55% senior notes due 2019, which were paid on February 11, 2019. On February 1, 2019, we issued 208,268 limited partner units, of which 199,792 were issued to settle unit awards to certain employees that vested on December 31, 2018 and 8,476 were issued to settle the equity-based retainers paid to four independent directors of our general partner. On February 1, 2019, 347,473 unit awards were granted pursuant to our LTIP. These awards included both performance-based and time-based awards and have a three-year vesting period that will end on December 31, 2021. On February 14, 2019, we paid cash distributions of $0.9975 per unit on our outstanding limited partner units to unitholders of record at the close of business on February 7, 2019. The total distributions paid were $227.8 million. Our collective bargaining agreement with approximately 24% of the employees assigned to our refined products segment that are represented by the USW expired in January 2019. We are operating under a 24-hour rolling extension of this agreement while negotiations for a new agreement continue.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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