PARTNERS' EQUITY (Tables)
|
9 Months Ended |
Sep. 30, 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 January 1, 2016 | $ | 1,609,844 |
| Net income | 161,059 |
| Unit-based compensation expense | 5,564 |
| Other comprehensive loss | (40,606 | ) | Cash distributions to partners | (294,153 | ) | Issuance of common units, including contribution from general partner | 28,285 |
| Balance as of September 30, 2016 | $ | 1,469,993 |
|
|
| 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 |
| Deferred income tax adjustments | — |
| | — |
| | 2,414 |
| | 2,414 |
| Other comprehensive loss before reclassification adjustments | (270 | ) | | (52,213 | ) | | — |
| | (52,483 | ) | Net gain on pension costs reclassified into operating expense | — |
| | — |
| | (839 | ) | | (839 | ) | Net gain on pension costs reclassified into general and administrative expense | — |
| | — |
| | (290 | ) | | (290 | ) | Net loss on cash flow hedges reclassified into interest expense, net | — |
| | 6,391 |
| | — |
| | 6,391 |
| Other comprehensive (loss) income | (270 | ) | | (45,822 | ) | | 5,486 |
| | (40,606 | ) | Balance as of September 30, 2016 | $ | (61,096 | ) | | $ | (73,790 | ) | | $ | 5,486 |
| | $ | (129,400 | ) |
|
| 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 September 30, | | Nine Months Ended September 30, | | 2016 | | 2015 | | 2016 | | 2015 | | (Thousands of Dollars) | Net income applicable to general partner and limited partners’ interest | $ | 51,141 |
| | $ | 65,016 |
| | $ | 161,059 |
| | $ | 247,240 |
| Less general partner incentive distribution | 10,890 |
| | 10,805 |
| | 32,500 |
| | 32,415 |
| Net income after general partner incentive distribution | 40,251 |
| | 54,211 |
| | 128,559 |
| | 214,825 |
| General partner interest | 2 | % | | 2 | % | | 2 | % | | 2 | % | General partner allocation of net income after general partner incentive distribution | 805 |
| | 1,084 |
| | 2,571 |
| | 4,297 |
| General partner incentive distribution | 10,890 |
| | 10,805 |
| | 32,500 |
| | 32,415 |
| Net income applicable to general partner | $ | 11,695 |
| | $ | 11,889 |
| | $ | 35,071 |
| | $ | 36,712 |
|
|
| 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 September 30, | | Nine Months Ended September 30, | | 2016 | | 2015 | | 2016 | | 2015 | | (Thousands of Dollars, Except Per Unit Data) | General partner interest | $ | 1,976 |
| | $ | 1,961 |
| | $ | 5,898 |
| | $ | 5,883 |
| General partner incentive distribution | 10,890 |
| | 10,805 |
| | 32,500 |
| | 32,415 |
| Total general partner distribution | 12,866 |
| | 12,766 |
| | 38,398 |
| | 38,298 |
| Limited partners’ distribution | 85,943 |
| | 85,285 |
| | 256,513 |
| | 255,855 |
| Total cash distributions | $ | 98,809 |
| | $ | 98,051 |
| | $ | 294,911 |
| | $ | 294,153 |
| | | | | | | | | Cash distributions per unit applicable to limited partners | $ | 1.095 |
| | $ | 1.095 |
| | $ | 3.285 |
| | $ | 3.285 |
|
|
| 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) | | | | | September 30, 2016 (a) | | $ | 1.095 |
| | $ | 98,809 |
| | November 8, 2016 | | November 14, 2016 | June 30, 2016 | | $ | 1.095 |
| | $ | 98,051 |
| | August 9, 2016 | | August 12, 2016 | March 31, 2016 | | $ | 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 October 28, 2016. |
|