v3.19.3.a.u2

Subsequent Events | 12 Months Ended
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Dec. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Recognizable events No recognizable events have occurred subsequent to December 31, 2019. Non-recognizable events On January 21, 2020, we announced an agreement to sell three marine terminals to Buckeye Partners, L.P. for $250 million. The terminals are located in New Haven, Connecticut, Wilmington, Delaware and Marrero, Louisiana. The sales price approximates the net book value of our investment in these terminals, and the impact of this transaction is not expected to be material to our 2020 financial statements. Also on January 21, 2020, we announced that our general partner’s board of directors authorized the repurchase of up to $750 million of common units through 2022. We intend to purchase our common units from time-to-time through a variety of methods, including open market purchases and negotiated transactions, all in compliance with the rules of the Securities and Exchange Commission and other applicable legal requirements. On February 14, 2020, we paid cash distributions of $1.0275 per unit on our outstanding common units to unitholders of record at the close of business on February 7, 2020.

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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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