PARTNERS' EQUITY (Tables)
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6 Months Ended |
Jun. 30, 2018 |
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| Distributions Made to Limited Partners and General Partner [Line Items] |
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| Schedule of Changes in Partners' Equity [Table Text Block] |
The following table summarizes changes to our partners’ equity, which excludes the Series D Preferred Units, (in thousands of dollars): | | | | | Balance as of January 1, 2018 | $ | 2,480,089 |
| Net income | 155,320 |
| Unit-based compensation | 3,051 |
| Other comprehensive income | 18,303 |
| Distributions to partners | (204,347 | ) | Issuance of common units, including contribution from general partner | 10,204 |
| Other | (6,143 | ) | Balance as of June 30, 2018 | $ | 2,456,477 |
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| Schedule of Distribution Waterfall [Table Text Block] |
Prior to the Merger, our available cash was distributed based on the percentages shown below: | | | | | | | | Percentage of Distribution | Quarterly Distribution Amount per Common Unit | | Common Unitholders | | General Partner Including Incentive Distributions | Up to $0.60 | | 98% | | 2% | Above $0.60 up to $0.66 | | 90% | | 10% | Above $0.66 | | 75% | | 25% |
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| Schedule of Distributions To General and Common Limited Partners [Table Text Block] |
The following table reflects the allocation of total cash distributions to the general partner and common limited partners applicable to the period in which the distributions were earned: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2018 | | 2017 | | 2018 | | 2017 | | (Thousands of Dollars, Except Per Unit Data) | General partner interest | $ | — |
| | $ | 2,302 |
| | $ | 1,141 |
| | $ | 4,645 |
| General partner incentive distribution | — |
| | 10,912 |
| | — |
| | 23,824 |
| Total general partner distribution | — |
| | 13,214 |
| | 1,141 |
| | 28,469 |
| Common limited partners’ distribution | 64,205 |
| | 101,869 |
| | 120,121 |
| | 203,782 |
| Total cash distributions | $ | 64,205 |
| | $ | 115,083 |
| | $ | 121,262 |
| | $ | 232,251 |
| | | | | | | | | Cash distributions per unit applicable to common limited partners | $ | 0.60 |
| | $ | 1.095 |
| | $ | 1.200 |
| | $ | 2.190 |
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| Distributions Made to Common Limited and General Partners, by Distribution [Table Text Block] |
The following table summarizes information about our quarterly cash distributions to our general partner and common limited partners: | | | | | | | | | | | | | | Quarter Ended | | Cash Distributions Per Unit | | Total Cash Distributions | | Record Date | | Payment Date | | | | | (Thousands of Dollars) | | | | | June 30, 2018 | | $ | 0.600 |
| | $ | 64,205 |
| | August 7, 2018 | | August 13, 2018 | March 31, 2018 | | $ | 0.600 |
| | $ | 57,057 |
| | May 8, 2018 | | May 14, 2018 | December 31, 2017 | | $ | 1.095 |
| | $ | 115,267 |
| | February 8, 2018 | | February 13, 2018 |
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| Schedule of Calculation of Net Income Applicable to General Partner [Table Text Block] |
The following table details the calculation of net income applicable to the general partner: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2018 | | 2017 | | 2018 | | 2017 | | (Thousands of Dollars, Except Percentage Data) | Net income | $ | 29,399 |
| | $ | 26,250 |
| | $ | 155,532 |
| | $ | 84,190 |
| Less preferred limited partner interest | 16,245 |
| | 9,950 |
| | 32,235 |
| | 14,763 |
| Less general partner incentive distribution | — |
| | 10,912 |
| | — |
| | 23,824 |
| Net income after preferred limited partner interest and general partner incentive distribution | 13,154 |
| | 5,388 |
| | 123,297 |
| | 45,603 |
| General partner interest allocation | 2 | % | | 2 | % | | 2 | % | | 2 | % | General partner interest allocation of net income | 263 |
| | 108 |
| | 2,466 |
| | 912 |
| General partner incentive distribution | — |
| | 10,912 |
| | — |
| | 23,824 |
| Net income applicable to general partner | $ | 263 |
| | $ | 11,020 |
| | $ | 2,466 |
| | $ | 24,736 |
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| 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, 2018 | $ | (51,603 | ) | | $ | (24,304 | ) | | $ | (9,020 | ) | | $ | (84,927 | ) | Other comprehensive (loss) income: | | | | | | | | Other comprehensive (loss) income before reclassification adjustments | (6,379 | ) | | 22,527 |
| | — |
| | 16,148 |
| Net gain on pension costs reclassified into other income, net | — |
| | — |
| | (407 | ) | | (407 | ) | Net loss on cash flow hedges reclassified into interest expense, net | — |
| | 2,552 |
| | — |
| | 2,552 |
| Other | 60 |
| | — |
| | (50 | ) | | 10 |
| Other comprehensive (loss) income | (6,319 | ) | | 25,079 |
| | (457 | ) | | 18,303 |
| Balance as of June 30, 2018 | $ | (57,922 | ) | | $ | 775 |
| | $ | (9,477 | ) | | $ | (66,624 | ) |
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| Preferred Limited Partner [Member] |
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| Distributions Made to Limited Partners and General Partner [Line Items] |
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| Distributions Made to Limited Partner, by Distribution [Table Text Block] |
The following table summarizes information about our cash distributions on our 8.50% Series A, 7.625% Series B and 9.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units: | | | | | | | | | | | | | | Period | | Cash Distributions Per Unit | | Total Cash Distributions | | Record Date | | Payment Date | | | | | (Thousands of Dollars) | | | | | Series A Preferred Units: | | | | | | | | | June 15, 2018 - September 14, 2018 | | $ | 0.53125 |
| | $ | 4,813 |
| | September 4, 2018 | | September 17, 2018 | March 15, 2018 - June 14, 2018 | | $ | 0.53125 |
| | $ | 4,813 |
| | June 1, 2018 | | June 15, 2018 | December 15, 2017 - March 14, 2018 | | $ | 0.53125 |
| | $ | 4,813 |
| | March 1, 2018 | | March 15, 2018 | | | | | | | | | | Series B Preferred Units: | | | | | | | | | June 15, 2018 to September 14, 2018 | | $ | 0.47657 |
| | $ | 7,339 |
| | September 4, 2018 | | September 17, 2018 | March 15, 2018 to June 14, 2018 | | $ | 0.47657 |
| | $ | 7,339 |
| | June 1, 2018 | | June 15, 2018 | December 15, 2017 to March 14, 2018 | | $ | 0.47657 |
| | $ | 7,339 |
| | March 1, 2018 | | March 15, 2018 | | | | | | | | | | Series C Preferred Units: | | | | | | | | | June 15, 2018 to September 14, 2018 | | $ | 0.56250 |
| | $ | 3,881 |
| | September 4, 2018 | | September 17, 2018 | March 15, 2018 to June 14, 2018 | | $ | 0.56250 |
| | $ | 3,881 |
| | June 1, 2018 | | June 15, 2018 | November 30, 2017 - March 14, 2018 | | $ | 0.65625 |
| | $ | 4,528 |
| | March 1, 2018 | | March 15, 2018 |
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