| Quarterly Financial Data |
QUARTERLY FINANCIAL DATA (UNAUDITED)
As further discussed in Note 5, we reclassified certain storage assets as “Assets held for sale” on the consolidated balance sheet as of December 31, 2013. We presented the results of operations for those facilities as discontinued operations for all periods presented. As a result, the amounts shown below differ from those previously reported in our quarterly reports on Form 10-Q and in our annual report for the year ended December 31, 2012.
| | | | | | | | | | | | | | | | | | | | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | Total | | (Thousands of Dollars, Except Per Unit Data) | 2013: | | | | | | | | | | Revenues | $ | 998,186 |
| | $ | 902,014 |
| | $ | 778,145 |
| | $ | 785,387 |
| | $ | 3,463,732 |
| Operating income (loss) | $ | 63,358 |
| | $ | 76,972 |
| | $ | 68,751 |
| | $ | (228,202 | ) | | $ | (19,121 | ) | Income (loss) from continuing operations | $ | 19,599 |
| | $ | 34,712 |
| | $ | 35,682 |
| | $ | (275,502 | ) | | $ | (185,509 | ) | Income (loss) from discontinued operations, net of tax | 4,805 |
| | (1,743 | ) | | (2,446 | ) | | (99,778 | ) | | (99,162 | ) | Net income (loss) | $ | 24,404 |
| | $ | 32,969 |
| | $ | 33,236 |
| | $ | (375,280 | ) | | $ | (284,671 | ) | Net income (loss) per unit applicable to limited partners: | | | | | | | | | | Continuing operations | $ | 0.10 |
| | $ | 0.30 |
| | $ | 0.31 |
| | $ | (3.60 | ) | | $ | (2.89 | ) | Discontinued operations | 0.07 |
| | (0.02 | ) | | (0.03 | ) | | (1.13 | ) | | (1.11 | ) | Total | $ | 0.17 |
| | $ | 0.28 |
| | $ | 0.28 |
| | $ | (4.73 | ) | | $ | (4.00 | ) | Cash distributions per unit applicable to limited partners | $ | 1.095 |
| | $ | 1.095 |
| | $ | 1.095 |
| | $ | 1.095 |
| | $ | 4.380 |
| | | | | | | | | | | 2012: | | | | | | | | | | Revenues | $ | 1,606,449 |
| | $ | 1,764,667 |
| | $ | 1,591,730 |
| | $ | 982,890 |
| | $ | 5,945,736 |
| Operating income (loss) | $ | 60,882 |
| | $ | (201,925 | ) | | $ | 62,750 |
| | $ | 60,125 |
| | $ | (18,168 | ) | Income (loss) from continuing operations | $ | 39,978 |
| | $ | (241,871 | ) | | $ | 17,000 |
| | $ | 18,892 |
| | $ | (166,001 | ) | Loss from discontinued operations, net of tax | (13,724 | ) | | (4,939 | ) | | (12,658 | ) | | (29,915 | ) | | (61,236 | ) | Net income (loss) | $ | 26,254 |
| | $ | (246,810 | ) | | $ | 4,342 |
| | $ | (11,023 | ) | | $ | (227,237 | ) | Net income (loss) per unit applicable to limited partners: | | | | | | | | | | Continuing operations | $ | 0.41 |
| | $ | (3.48 | ) | | $ | 0.08 |
| | $ | 0.10 |
| | $ | (2.79 | ) | Discontinued operations | (0.18 | ) | | (0.08 | ) | | (0.17 | ) | | (0.37 | ) | | (0.82 | ) | Total | $ | 0.23 |
| | $ | (3.56 | ) | | $ | (0.09 | ) | | $ | (0.27 | ) | | $ | (3.61 | ) | Cash distributions per unit applicable to limited partners | $ | 1.095 |
| | $ | 1.095 |
| | $ | 1.095 |
| | $ | 1.095 |
| | $ | 4.380 |
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