v3.4.0.3
PARTNERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2016
Partners' Capital Notes [Abstract]  
Schedule of Changes in Partners' Equity
The following table summarizes changes to our partners’ equity (in thousands of dollars):
Balance as of December 31, 2015
$
1,609,844

Net income
57,401

Unit-based compensation
3,236

Other comprehensive loss
(14,778
)
Cash distributions to partners
(98,051
)
Balance as of March 31, 2016
$
1,557,652


 

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The balance of and changes in the components included in AOCI were as follows:
 
Foreign
Currency
Translation
 
Cash Flow Hedges
 
Pension and Other Postretirement Benefits
 
Total
 
(Thousands of Dollars)
Balance as of January 1, 2016
$
(60,826
)
 
$
(27,968
)
 
$

 
$
(88,794
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
Employee Transfer

 

 
4,201

 
4,201

Other comprehensive income (loss) before
   reclassification adjustments
8,938

 
(29,978
)
 

 
(21,040
)
Net gain on pension costs reclassified into operating
   expense

 

 
(120
)
 
(120
)
Net gain on pension costs reclassified into general and
   administrative expense

 

 
(41
)
 
(41
)
Net loss on cash flow hedges reclassified into interest
   expense, net

 
2,222

 

 
2,222

Other comprehensive income (loss)
8,938

 
(27,756
)
 
4,040

 
(14,778
)
Balance as of March 31, 2016
$
(51,888
)
 
$
(55,724
)
 
$
4,040

 
$
(103,572
)
Schedule of Calculation of Net Income Applicable to General Partner [Text Block]
The following table details the calculation of net income applicable to the general partner:
 
Three Months Ended March 31,
 
2016
 
2015
 
(Thousands of Dollars)
Net income applicable to general partner and limited partners’ interest
$
57,401

 
$
127,899

Less general partner incentive distribution
10,805

 
10,805

Net income after general partner incentive distribution
46,596

 
117,094

General partner interest
2
%
 
2
%
General partner allocation of net income after general partner incentive distribution
932

 
2,342

General partner incentive distribution
10,805

 
10,805

Net income applicable to general partner
$
11,737

 
$
13,147


Schedule of Distributions To General and Limited Partners [Text Block]
The following table reflects the allocation of total cash distributions to the general and limited partners applicable to the period in which the distributions were earned:
 
Three Months Ended March 31,
 
2016
 
2015
 
(Thousands of Dollars, Except Per Unit Data)
General partner interest
$
1,961

 
$
1,961

General partner incentive distribution
10,805

 
10,805

Total general partner distribution
12,766

 
12,766

Limited partners’ distribution
85,285

 
85,285

Total cash distributions
$
98,051

 
$
98,051

 
 
 
 
Cash distributions per unit applicable to limited partners
$
1.095

 
$
1.095

Distributions Made to Limited and General Partners, by Distribution [Table Text Block]
The following table summarizes information related to our quarterly cash distributions:
Quarter Ended
 
Cash Distributions Per Unit
 
Total Cash Distributions
 
Record Date
 
Payment Date
 
 
 
 
(Thousands of Dollars)
 
 
 
 
March 31, 2016 (a)
 
$
1.095

 
$
98,051

 
May 9, 2016
 
May 13, 2016
December 31, 2015
 
$
1.095

 
$
98,051

 
February 8, 2016
 
February 12, 2016
(a)
The distribution was announced on April 27, 2016.