v3.19.3.a.u2

ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table reflects the final purchase price allocation:
| Purchase Price Allocation
| (Thousands of Dollars)
Accounts receivable | $ | 4,747 |
Other current assets | 2,359 |
Property, plant and equipment, net | 376,690 |
Intangible assets (a) | 700,000 |
Goodwill (b) | 398,024 |
Other long-term assets, net | 2,199 |
Current liabilities | (22,300 | )
Purchase price allocation, net of cash acquired | $ | 1,461,719 |
(a) | Intangible assets, which consist of customer contracts and relationships, are amortized on a straight-line basis over a period of 20 years.
(b) | The goodwill acquired represents the expected benefit from entering new geographic areas and the anticipated opportunities to generate future cash flows from the assets acquired and potential future projects.
Business Acquisition, Pro Forma Information [Table Text Block] | The unaudited pro forma information for the year ended December 31, 2017 below presents the combined historical financial information for Navigator and the Partnership for those periods. This information assumes:
• | we completed the Navigator Acquisition on January 1, 2017;
• | we issued approximately 14.4 million common units;
• | we received a contribution from our general partner of $13.6 million to maintain the 2% general partner economic interest it owned at that time;
• | we issued 15.4 million Series B Preferred Units;
• | we issued $550.0 million of 5.625% senior notes;
• | additional depreciation and amortization that would have been incurred assuming the fair value adjustments to property, plant and equipment and intangible assets reflected in the purchase price allocation above; and
• | we satisfied Navigator’s outstanding obligations under its revolving credit agreement.
| Year Ended December 31, 2017
| (Thousands of Dollars, Except Per Unit Data)
Revenues | $ | 1,828,418 |
Net income | $ | 127,433 |
Basic and diluted net income per common unit | $ | 0.31 |
The pro forma information for the year ended December 31, 2017 includes transaction costs of $14.1 million, which were directly attributable to the Navigator Acquisition. The pro forma information is unaudited and is not necessarily indicative of the results of operations that would have resulted had the Navigator Acquisition occurred on January 1, 2017 or that may result in the future.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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