| Schedule of Distributions Made to Members or Limited Partners, by Distribution |
The following provides a summary of distributions paid by us during the nine months ended September 30, 2013:
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Total Distribution (in thousands) |
Date Paid |
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Period Covered by Distribution |
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Distribution Per Common Unit |
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Distribution Per Subordinated Unit |
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Common Units |
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Class B Units |
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Subordinated Units |
|
General Partner Units |
February 14, 2013 |
|
October 1 - December 31, 2012 |
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$ |
0.425 |
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$ |
— |
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$ |
16,783 |
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— |
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— |
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$ |
342 |
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May 15, 2013 |
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January 1 - March 31, 2013 |
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0.425 |
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— |
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24,259 |
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— |
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— |
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|
495 |
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August 15, 2013 |
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April 1 - June 30, 2013 |
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0.425 |
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— |
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24,259 |
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— |
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— |
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|
495 |
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| Schedule of Anticipated Beneficial Conversion Feature impact to Capital Accounts |
The following is a schedule by years, based on the capital structure as of September 30, 2013, of the anticipated impact to the capital accounts in connection with the amortization of the beneficial conversion feature (in thousands):
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Common Units |
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Class B Units |
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Subordinated Units |
2013 |
$ |
— |
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$ |
— |
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$ |
— |
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2014 |
(2 |
) |
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6 |
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(4 |
) |
2015 |
(241 |
) |
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813 |
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(572 |
) |
2016 |
(32,023 |
) |
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107,979 |
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(75,955 |
) |
2017 |
(538,538 |
) |
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1,815,883 |
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(1,277,345 |
) |
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| Schedule of Weighted Average Number of Shares |
The following table provides a reconciliation of net income (loss) and the allocation of net income (loss) to the common units and the subordinated units for purposes of computing net income (loss) per unit (in thousands, except per unit data):
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Limited Partner Units |
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Total |
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Common Units |
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Class B Units |
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Subordinated Units |
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General Partner |
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Creole Trail Pipeline Business |
Three Months Ended September 30, 2013 |
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Net loss |
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$ |
(98,109 |
) |
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Declared distributions |
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24,754 |
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24,259 |
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— |
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— |
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495 |
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Assumed allocation of undistributed net loss |
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$ |
(122,863 |
) |
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(35,780 |
) |
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— |
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(84,865 |
) |
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(2,462 |
) |
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244 |
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Assumed allocation of net loss |
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$ |
(11,521 |
) |
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$ |
— |
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$ |
(84,865 |
) |
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$ |
(1,967 |
) |
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$ |
244 |
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Weighted average units outstanding |
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57,079 |
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— |
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135,384 |
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Net loss per unit |
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$ |
(0.20 |
) |
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$ |
— |
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$ |
(0.63 |
) |
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Three Months Ended September 30, 2012 |
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Net loss |
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$ |
(51,370 |
) |
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Declared distributions |
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17,125 |
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16,783 |
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— |
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— |
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342 |
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Amortization of beneficial conversion feature of Class B units |
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— |
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(2,971 |
) |
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14,888 |
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(11,917 |
) |
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— |
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Assumed allocation of undistributed net loss |
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$ |
(68,495 |
) |
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(12,467 |
) |
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— |
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(42,744 |
) |
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(4,336 |
) |
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(8,948 |
) |
Assumed allocation of net income (loss) |
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$ |
1,345 |
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$ |
14,888 |
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$ |
(54,661 |
) |
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$ |
(3,994 |
) |
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$ |
(8,948 |
) |
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Weighted average units outstanding |
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31,997 |
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54,710 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.04 |
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$ |
0.27 |
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$ |
(0.40 |
) |
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Nine Months Ended September 30, 2013 |
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Net loss |
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$ |
(196,851 |
) |
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Declared distributions |
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74,261 |
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72,776 |
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— |
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— |
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1,485 |
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Assumed allocation of undistributed net loss |
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$ |
(271,112 |
) |
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(73,521 |
) |
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— |
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(174,382 |
) |
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(5,059 |
) |
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(18,150 |
) |
Assumed allocation of net income (loss) |
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$ |
(745 |
) |
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$ |
— |
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$ |
(174,382 |
) |
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$ |
(3,574 |
) |
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$ |
(18,150 |
) |
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Weighted average units outstanding |
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53,277 |
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— |
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135,384 |
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Net income (loss) per unit |
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$ |
(0.01 |
) |
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$ |
— |
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$ |
(1.29 |
) |
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Nine Months Ended September 30, 2012 |
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Net loss |
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$ |
(106,818 |
) |
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Declared distributions |
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44,376 |
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43,488 |
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— |
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— |
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|
888 |
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Amortization of beneficial conversion feature of Class B units |
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— |
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(3,863 |
) |
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19,625 |
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(15,762 |
) |
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— |
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Assumed allocation of undistributed net loss |
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$ |
(151,194 |
) |
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(28,278 |
) |
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— |
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(96,948 |
) |
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(5,765 |
) |
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(20,203 |
) |
Assumed allocation of net income (loss) |
|
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|
$ |
11,347 |
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$ |
19,625 |
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$ |
(112,710 |
) |
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$ |
(4,877 |
) |
|
$ |
(20,203 |
) |
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Weighted average units outstanding |
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31,449 |
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19,181 |
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135,384 |
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Net income (loss) per unit |
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$ |
0.36 |
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$ |
1.02 |
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$ |
(0.83 |
) |
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