RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2013

The following table summarizes information pertaining to related party transactions:



	Year Ended December 31,
	2013		2012		2011
	(Thousands of Dollars)
Revenues	$	14,897	$	1,990	$	—
Operating expenses	$	122,677	$	133,654	$	138,324
General and administrative expenses	$	58,602	$	62,490	$	66,220
Interest income	$	6,113	$	1,219	$	—
Revenues included in discontinued operations, net of tax	$	3,720	$	3,390	$	1,039
Expenses included in discontinued operations, net of tax	$	6,051	$	14,328	$	12,238

Schedule of Variable Interest Entities [Table Text Block]

As of December 31, 2013, our maximum exposure to loss as a result of our involvement with Asphalt JV is approximately $450.7 million, which consists of the following (in thousands of dollars):



	Maximum Exposure to Loss		Carrying Value
			asset/(liability)
Receivable from Asphalt JV	$	50,717	$	50,717
Note receivable under the NuStar JV Facility	250,000		165,440
Credit support, including guarantees	150,000		(1,880		)
Total	$	450,717	$	214,277

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References+ Details