| 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, 2014, 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 |
|
Class B Units |
|
Subordinated Units |
2014 |
(2 |
) |
|
6 |
|
|
(4 |
) |
2015 |
(232 |
) |
|
781 |
|
|
(549 |
) |
2016 |
(29,564 |
) |
|
99,685 |
|
|
(70,121 |
) |
2017 |
(594,390 |
) |
|
2,004,209 |
|
|
(1,409,819 |
) |
|
| Schedule of Net Income (Loss) per Unit |
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 |
|
Common Units |
|
Class B Units |
|
Subordinated Units |
|
General Partner |
|
Creole Trail Pipeline Business |
Three Months Ended September 30, 2014 |
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|
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|
Net loss |
|
$ |
(43,240 |
) |
|
|
|
|
|
|
|
|
|
|
Declared distributions |
|
24,754 |
|
|
24,259 |
|
|
— |
|
|
— |
|
|
495 |
|
|
|
Assumed allocation of undistributed net loss |
|
$ |
(67,994 |
) |
|
(19,762 |
) |
|
— |
|
|
(46,872 |
) |
|
(1,360 |
) |
|
— |
|
Assumed allocation of net income (loss) |
|
|
|
$ |
4,497 |
|
|
$ |
— |
|
|
$ |
(46,872 |
) |
|
$ |
(865 |
) |
|
$ |
— |
|
|
|
|
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|
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|
|
|
|
|
|
Weighted average units outstanding |
|
|
|
57,079 |
|
|
145,333 |
|
|
135,384 |
|
|
|
|
|
Net income (loss) per unit |
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|
|
$ |
0.08 |
|
|
$ |
— |
|
|
$ |
(0.35 |
) |
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|
Three Months Ended September 30, 2013 |
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|
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|
Net loss |
|
$ |
(98,109 |
) |
|
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|
|
|
|
|
|
Declared distributions |
|
24,754 |
|
|
24,259 |
|
|
— |
|
|
— |
|
|
495 |
|
|
|
Assumed allocation of undistributed net income (loss) |
|
$ |
(122,863 |
) |
|
(35,780 |
) |
|
— |
|
|
(84,865 |
) |
|
(2,462 |
) |
|
244 |
|
Assumed allocation of net income (loss) |
|
|
|
$ |
(11,521 |
) |
|
$ |
— |
|
|
$ |
(84,865 |
) |
|
$ |
(1,967 |
) |
|
$ |
244 |
|
Assumed allocation of net loss adjusted for the Creole Trail Pipeline Business |
|
|
|
$ |
(6,020 |
) |
|
$ |
— |
|
|
$ |
(186,894 |
) |
|
$ |
(3,937 |
) |
|
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|
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|
|
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|
Weighted average units outstanding |
|
|
|
57,079 |
|
|
— |
|
|
135,384 |
|
|
|
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|
Net loss per unit |
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|
|
$ |
(0.20 |
) |
|
$ |
— |
|
|
$ |
(0.63 |
) |
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|
Net loss per unit, adjusted to include pre-acquisition date net losses of the Creole Trail Pipeline Business |
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|
|
$ |
(0.11 |
) |
|
$ |
— |
|
|
$ |
(1.38 |
) |
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|
Nine Months Ended September 30, 2014 |
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Net loss |
|
$ |
(339,197 |
) |
|
|
|
|
|
|
|
|
|
|
Declared distributions |
|
74,261 |
|
|
72,776 |
|
|
— |
|
|
— |
|
|
1,485 |
|
|
|
Assumed allocation of undistributed net loss |
|
$ |
(413,458 |
) |
|
(120,168 |
) |
|
— |
|
|
(285,021 |
) |
|
(8,269 |
) |
|
— |
|
Assumed allocation of net loss |
|
|
|
$ |
(47,392 |
) |
|
$ |
— |
|
|
$ |
(285,021 |
) |
|
$ |
(6,784 |
) |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average units outstanding |
|
|
|
57,079 |
|
|
145,333 |
|
|
135,384 |
|
|
|
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|
Net loss per unit |
|
|
|
$ |
(0.83 |
) |
|
$ |
— |
|
|
$ |
(2.11 |
) |
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|
Nine Months Ended September 30, 2013 |
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|
Net loss |
|
$ |
(196,851 |
) |
|
|
|
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|
|
|
|
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|
Declared distributions |
|
74,261 |
|
|
72,776 |
|
|
— |
|
|
— |
|
|
1,485 |
|
|
|
Assumed allocation of undistributed net loss |
|
$ |
(271,112 |
) |
|
(73,521 |
) |
|
— |
|
|
(174,382 |
) |
|
(5,059 |
) |
|
(18,150 |
) |
Assumed allocation of net loss |
|
|
|
$ |
(745 |
) |
|
$ |
— |
|
|
$ |
(174,382 |
) |
|
$ |
(3,574 |
) |
|
$ |
(18,150 |
) |
Assumed allocation of net loss adjusted for the Creole Trail Pipeline Business |
|
|
|
$ |
(6,020 |
) |
|
$ |
— |
|
|
$ |
(186,894 |
) |
|
$ |
(3,937 |
) |
|
|
|
|
|
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|
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|
|
|
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|
Weighted average units outstanding |
|
|
|
53,277 |
|
|
— |
|
|
135,384 |
|
|
|
|
|
Net loss per unit |
|
|
|
$ |
(0.01 |
) |
|
$ |
— |
|
|
$ |
(1.29 |
) |
|
|
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|
Net loss per unit, adjusted to include pre-acquisition date net losses of the Creole Trail Pipeline Business |
|
|
|
$ |
(0.11 |
) |
|
$ |
— |
|
|
$ |
(1.38 |
) |
|
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|