Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 24, 2014 | Jun. 30, 2013 | |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'Boardwalk Pipeline Partners, LP | ' | ' |
Entity Central Index Key | '0001336047 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 243,223,801 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $3,552,657,574 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $28.50 | $3.90 |
Receivables: | ' | ' |
Trade, net | 103.5 | 105.3 |
Affiliates | 1.1 | 0 |
Other | 15.7 | 6.9 |
Gas transportation receivables | 7.8 | 9 |
Costs recoverable from customers | 0.8 | 3.3 |
Gas and liquids stored underground | 0.7 | 10.8 |
Prepayments | 12.9 | 15.2 |
Other current assets | 6.1 | 2.6 |
Total current assets | 177.1 | 157 |
Property, Plant and Equipment: | ' | ' |
Natural gas transmission and other plant | 8,548.80 | 8,165.30 |
Construction work in progress | 174.5 | 258 |
Property, plant and equipment, gross | 8,723.30 | 8,423.30 |
Less—accumulated depreciation and amortization | 1,489.20 | 1,234.10 |
Property, plant and equipment, net | 7,234.10 | 7,189.20 |
Other Assets: | ' | ' |
Goodwill | 215.5 | 267 |
Gas stored underground | 79.7 | 109.7 |
Investment in unconsolidated affiliates | 78.6 | 0 |
Other | 129.5 | 139.6 |
Total other assets | 503.3 | 516.3 |
Total Assets | 7,914.50 | 7,862.50 |
Payables: | ' | ' |
Trade | 65.1 | 69.8 |
Affiliates | 1.2 | 2.7 |
Other | 5.7 | 19.2 |
Gas Payables: | ' | ' |
Transportation | 8.8 | 10.4 |
Storage | 0.2 | 3.5 |
Accrued taxes, other | 46.1 | 40.5 |
Accrued interest | 45.4 | 42.5 |
Accrued payroll and employee benefits | 26.4 | 25.2 |
Deferred income | 9.3 | 19.9 |
Other current liabilities | 27.8 | 22.1 |
Total current liabilities | 236 | 255.8 |
Long–term debt and capital lease obligation | 3,424.40 | 3,539.20 |
Other Liabilities and Deferred Credits: | ' | ' |
Pension liability | 17.1 | 26.8 |
Asset retirement obligation | 39.3 | 33.2 |
Provision for other asset retirement | 57.6 | 57.4 |
Payable to affiliate | 16 | 16 |
Other | 60.7 | 57 |
Total other liabilities and deferred credits | 190.7 | 190.4 |
Commitments and Contingencies | ' | ' |
Equity: | ' | ' |
Common units – 243.3 million and 207.7 million units issued and outstanding as of December 31, 2013 and 2012 | 3,963.40 | 3,190.30 |
Class B units – 22.9 million units issued and outstanding as of December 31, 2012 | 0 | 678.3 |
General partner | 77.3 | 75.8 |
Accumulated other comprehensive loss | -63.8 | -67.3 |
Total partners’ capital | 3,976.90 | 3,877.10 |
Total Equity | 4,063.40 | 3,877.10 |
Noncontrolling interest | 86.5 | 0 |
Total Liabilities and Equity | $7,914.50 | $7,862.50 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Partners' Capital: | ' | ' |
Common units issued (in shares) | 243.2 | 207.7 |
Common units outstanding (in shares) | 243.2 | 207.7 |
Class B units issued (in shares) | 0 | 22.9 |
Class B units outstanding (in shares) | 0 | 22.9 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues: | ' | ' | ' |
Transportation | $1,028 | $1,058.30 | $1,067.20 |
Parking and lending | 23.9 | 28 | 12 |
Storage | 110.9 | 84.7 | 52.2 |
Other | 42.8 | 14 | 11.5 |
Total operating revenues | 1,205.60 | 1,185 | 1,142.90 |
Operating Costs and Expenses: | ' | ' | ' |
Fuel and transportation | 93.4 | 79.4 | 102.8 |
Operation and maintenance | 186.5 | 167.2 | 175.2 |
Administrative and general | 117.4 | 115.3 | 137.2 |
Depreciation and amortization | 271.6 | 252.3 | 227.3 |
Asset impairment | 4.1 | 9.1 | 30.5 |
Goodwill impairment | 51.5 | 0 | 0 |
Net gain on sale of operating assets | -29.5 | -3.3 | -8.6 |
Taxes other than income taxes | 96.1 | 91.2 | 89.3 |
Total operating costs and expenses | 791.1 | 711.2 | 753.7 |
Operating income | 414.5 | 473.8 | 389.2 |
Other Deductions (Income): | ' | ' | ' |
Interest expense | 163.4 | 161.5 | 151.9 |
Interest expense – affiliates | 0 | 6.9 | 8 |
Loss on early retirement of debt | 0 | 0 | 13.2 |
Interest income | -0.5 | -0.7 | -0.4 |
Equity losses in unconsolidated affiliates | 1.2 | 0 | 0 |
Miscellaneous other income | -0.3 | -0.4 | -0.9 |
Total other deductions | 163.8 | 167.3 | 171.8 |
Income before income taxes | 250.7 | 306.5 | 217.4 |
Income taxes | 0.5 | 0.5 | 0.4 |
Net Income | 250.2 | 306 | 217 |
Net loss attributable to noncontrolling interests | -3.5 | 0 | 0 |
Net income attributable to controlling interests | $253.70 | $306 | $217 |
CONSOLIDATED_STATEMENTS_OF_INC1
CONSOLIDATED STATEMENTS OF INCOME Net Income Per Unit (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income per Unit: | ' | ' | ' |
Cash distribution declared and paid to common units | $2.13 | $2.13 | $2.10 |
Cash distribution declared and paid to class B units | $0.90 | $1.20 | $1.20 |
Common Units | ' | ' | ' |
Basic net income per unit: | ' | ' | ' |
Basic net income per unit | $1 | $1.37 | $1.09 |
Weighted-average number of units outstanding - basic | ' | ' | ' |
Weighted-average number of units outstanding - basic | 220.5 | 191.9 | 173.3 |
Diluted net income per unit: | ' | ' | ' |
Diluted net income per unit | $0.96 | $1.37 | $1.09 |
Weighted-average number of units outstanding - diluted | ' | ' | ' |
Weighted-average number of units outstanding - diluted | 226.8 | 191.9 | 173.3 |
Class B Units | ' | ' | ' |
Basic net income per unit: | ' | ' | ' |
Basic net income per unit | $0.05 | $0.36 | $0.14 |
Weighted-average number of units outstanding - basic | ' | ' | ' |
Weighted-average number of units outstanding - basic | 17.6 | 22.9 | 22.9 |
Diluted net income per unit: | ' | ' | ' |
Diluted net income per unit | $0.48 | $0.36 | $0.14 |
Weighted-average number of units outstanding - diluted | ' | ' | ' |
Weighted-average number of units outstanding - diluted | 11.3 | 22.9 | 22.9 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | $16.70 | $61.70 | $70.40 | $101.40 | $90.10 | $58.20 | $65.10 | $92.60 | $250.20 | $306 | $217 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -7.1 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 2 | 0.2 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | -12.8 | -13.2 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 288.1 | 207.1 |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | 0 | 0 |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | $257.20 | $288.10 | $207.10 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities: | ' | ' | ' |
Net Income | $250.20 | $306 | $217 |
Adjustments to reconcile net income to cash provided by operations: | ' | ' | ' |
Depreciation and amortization | 271.6 | 252.3 | 227.3 |
Amortization of deferred costs | 5.5 | 6.4 | 9.3 |
Asset impairment | 4.1 | 9.1 | 30.5 |
Goodwill impairment | 51.5 | 0 | 0 |
Loss on early retirement of debt | 0 | 0 | 13.2 |
Storage gas loss | 0 | 0 | 3.7 |
Net gain on sale of operating assets | -29.5 | -3.3 | -8.6 |
Equity losses in unconsolidated affiliates | 1.2 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' |
Trade and other receivables | -10 | 5.4 | -15.7 |
Other receivables, affiliates | 0.5 | 0.1 | 0 |
Gas receivables and storage assets | 18 | -10.4 | 15.9 |
Costs recoverable from customers | 2.6 | 6.5 | -2.6 |
Other assets | -10.7 | -1.7 | -26.4 |
Trade and other payables | -16.8 | 8.3 | -4.1 |
Other payables, affiliates | 0.7 | -3.1 | 0 |
Gas payables | 0.5 | 13.5 | -17.2 |
Accrued liabilities | 8.6 | -1.5 | 7.3 |
Other liabilities | -13.7 | -12.1 | 4.3 |
Net cash provided by operating activities | 534.3 | 575.5 | 453.9 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | -294.8 | -226.9 | -141.9 |
Proceeds from sale of operating assets | 60.7 | 5.9 | 31.5 |
Proceeds from insurance and other recoveries | 1.4 | 10.4 | 9.6 |
Investment in unconsolidated affiliates | -76.7 | 0 | 0 |
Acquisition of businesses, net of cash acquired | 0 | -620.2 | -545.5 |
Net cash used in investing activities | -309.4 | -830.8 | -646.3 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | 0 | 818 | 636.8 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | 0 | -525 | -250 |
Payments of premiums on extinguishment of long-term debt | 0 | 0 | -21 |
Proceeds from borrowings on revolving credit agreement | 1,128 | 2,135 | 585 |
Repayment of borrowings on revolving credit agreement, including financing costs | -1,255 | -2,295.30 | -830 |
Contribution received related to predecessor equity | 0 | 269.2 | 284.8 |
Principal payment of capital lease obligation | -0.2 | 0 | 0 |
Repayment of contribution received related to predecessor equity | 0 | -554 | 0 |
Advances from affiliate | -2.8 | 2.6 | 0 |
Distributions paid | -533.9 | -478.9 | -419.9 |
Capital contributions from noncontrolling interests | 87.1 | 0 | 0 |
Proceeds from sale of common units | 368.7 | 847.7 | 170 |
Capital contribution from general partner | 7.8 | 18 | 3.6 |
Net cash (used in) provided by financing activities | -200.3 | 237.3 | 159.3 |
Increase (decrease) in cash and cash equivalents | 24.6 | -18 | -33.1 |
Cash and cash equivalents at beginning of period | 3.9 | 21.9 | 55 |
Cash and cash equivalents at end of period | $28.50 | $3.90 | $21.90 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $) | Total | Common Units | Class B Units | General Partner | Predecessor Equity | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests |
In Millions, unless otherwise specified | |||||||
Beginning Balance at Dec. 31, 2010 | $3,241.40 | $2,534.40 | $683.60 | $62.90 | $0 | ($39.50) | $0 |
Add (deduct): | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 217 | 171.4 | 22.6 | 26.2 | -3.2 | 0 | 0 |
Distributions paid | -419.9 | -361.7 | -27.5 | -30.7 | 0 | 0 | 0 |
Sale of common units, net of related transaction costs | 170 | 170 | 0 | 0 | 0 | 0 | 0 |
Capital contribution from general partner | 3.6 | 0 | 0 | 3.6 | 0 | 0 | 0 |
Contribution received related to predecessor equity | 284.8 | 0 | 0 | 0 | 284.8 | 0 | 0 |
Other comprehensive income (loss), net of tax | -9.9 | 0 | 0 | 0 | 0 | -9.9 | 0 |
Ending Balance at Dec. 31, 2011 | 3,487 | 2,514.10 | 678.7 | 62 | 281.6 | -49.4 | 0 |
Add (deduct): | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 306 | 245 | 27.5 | 35.7 | -2.2 | 0 | 0 |
Distributions paid | -478.9 | -411.8 | -27.4 | -39.7 | 0 | 0 | 0 |
Sale of common units, net of related transaction costs | 847.7 | 847.7 | 0 | 0 | 0 | 0 | 0 |
Capital contribution from general partner | 18 | 0 | 0 | 18 | 0 | 0 | 0 |
Contribution received related to predecessor equity | 269.2 | 0 | 0 | 0 | 269.2 | 0 | 0 |
Predecessor equity carrying amount of acquired entities | -548.6 | 0 | 0 | 0 | -548.6 | 0 | 0 |
Excess purchase price over net acquired assets | -5.4 | -4.7 | -0.5 | -0.2 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | -17.9 | 0 | 0 | 0 | 0 | -17.9 | 0 |
Ending Balance at Dec. 31, 2012 | 3,877.10 | 3,190.30 | 678.3 | 75.8 | 0 | -67.3 | 0 |
Add (deduct): | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 250.2 | 194.5 | 20.2 | 39 | 0 | 0 | -3.5 |
Distributions paid | -533.9 | -468 | -20.6 | -45.3 | 0 | 0 | 0 |
Sale of common units, net of related transaction costs | 368.7 | 368.7 | 0 | 0 | 0 | 0 | 0 |
Capital contribution from general partner | 7.8 | 0 | 0 | 7.8 | 0 | 0 | 0 |
Conversion of class B units to common units | 0 | 677.9 | -677.9 | 0 | 0 | 0 | 0 |
Contribution received related to predecessor equity | 0 | ' | ' | ' | ' | ' | ' |
Capital contributions from noncontrolling interests | 90 | 0 | 0 | 0 | 0 | 0 | 90 |
Other comprehensive income (loss), net of tax | 3.5 | 0 | 0 | 0 | 0 | 3.5 | 0 |
Ending Balance at Dec. 31, 2013 | $4,063.40 | $3,963.40 | $0 | $77.30 | $0 | ($63.80) | $86.50 |
Corporate_Structure
Corporate Structure | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Corporate Structure | ' |
Note 1: Corporate Structure | |
Boardwalk Pipeline Partners, LP (the Partnership) is a Delaware limited partnership formed in 2005 to own and operate the business conducted by its primary subsidiary Boardwalk Pipelines, LP (Boardwalk Pipelines), and its operating subsidiaries, Gulf Crossing Pipeline Company LLC (Gulf Crossing), Gulf South Pipeline Company, LP (Gulf South), Texas Gas Transmission, LLC (Texas Gas), Boardwalk Field Services, LLC (Field Services), Petal Gas Storage, LLC (formerly referred to as Boardwalk HP Storage, LLC) (Petal), Boardwalk Louisiana Midstream, LLC (Louisiana Midstream) and Boardwalk Storage Company, LLC (Boardwalk Storage) (together, the operating subsidiaries), and consists of integrated natural gas and natural gas liquids (NGLs) pipeline and storage systems and natural gas gathering and processing. All of the Partnership’s operations are conducted by its operating subsidiaries. | |
As of February 24, 2014, Boardwalk Pipelines Holding Corp. (BPHC), a wholly-owned subsidiary of Loews Corporation (Loews), owned 125.6 million of the Partnership’s common units, and, through Boardwalk GP, LP (Boardwalk GP), an indirect wholly-owned subsidiary of BPHC, holds the 2% general partner interest and all of the incentive distribution rights (IDRs). As of February 24, 2014, the common units and general partner interest owned by BPHC represent approximately 53% of the Partnership’s equity interests, excluding the IDRs. The Partnership's Class B limited partner interests converted to common units on a one-for-one basis on October 9, 2013. The Partnership’s common units are traded under the symbol “BWP” on the New York Stock Exchange. | |
Basis of Presentation | |
The accompanying consolidated financial statements of the Partnership were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). | |
Certain amounts reported within Total operating costs and expenses in the Consolidated Statements of Income for the 2012 and 2011 period have been reclassified to conform to the current presentation. The effect of the reclassification increased Operation and maintenance expense and decreased Net gain on sale of operating assets, by $1.0 million and $6.2 million for the years ended December 31, 2012 and 2011, with no impact on Total operating costs and expenses, Operating income or Net Income. |
Accounting_Policies
Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Accounting Policies | ' | |||||||||||
Note 2: Accounting Policies | ||||||||||||
Principles of Consolidation | ||||||||||||
The consolidated financial statements include the Partnership’s accounts and those of its wholly-owned subsidiaries after elimination of intercompany transactions. The Partnership also consolidates variable interest entities (VIEs) in which the Partnership is the primary beneficiary. Third party or affiliate ownership interests in the Partnership's subsidiaries and consolidated VIEs are presented as noncontrolling interests. | ||||||||||||
The Partnership applies the equity method of accounting for investments in unconsolidated affiliates in which it owns 20 percent to 50 percent of the voting interests or otherwise exercises significant influence, but not control, over operating and financial policies of the investee. Under this method, the carrying amounts of the Partnership's equity investments are increased by a proportionate share of the investee's net income and contributions made, and decreased by a proportionate share of the investee's net losses and distributions received. | ||||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities and the fair values of certain items. The Partnership bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from such estimates. | ||||||||||||
Segment Information | ||||||||||||
The Partnership operates in one reportable segment - the operation of interstate natural gas and natural gas liquids (NGLs) pipeline systems including integrated storage facilities. This segment consists of interstate natural gas pipeline systems which originate in the Gulf Coast region, Oklahoma and Arkansas, and extend north and east through the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio and NGLs pipelines and storage facilities in Louisiana. | ||||||||||||
Regulatory Accounting | ||||||||||||
Most of the Partnership's natural gas pipeline subsidiaries are regulated by the Federal Energy Regulatory Commission (FERC). When certain criteria are met, GAAP requires that certain rate-regulated entities account for and report assets and liabilities consistent with the economic effect of the manner in which independent third-party regulators establish rates (regulatory accounting). This basis of accounting is applicable to operations of the Partnership’s Texas Gas subsidiary which records certain costs and benefits as regulatory assets and liabilities in order to provide for recovery from or refund to customers in future periods, but is not applicable to operations associated with the Fayetteville and Greenville Laterals due to rates charged under negotiated rate agreements and a portion of the storage capacity due to the regulatory treatment associated with the rates charged for that capacity. Regulatory accounting is not applicable to the Partnership’s other FERC-regulated entities. | ||||||||||||
The Partnership monitors the regulatory and competitive environment in which it operates to determine that its regulatory assets continue to be probable of recovery. If the Partnership were to determine that all or a portion of its regulatory assets no longer met the criteria for recognition as regulatory assets, that portion which was not recoverable would be written off, net of any regulatory liabilities. | ||||||||||||
Note 10 contains more information regarding the Partnership’s regulatory assets and liabilities. | ||||||||||||
Fair Value Measurements | ||||||||||||
Fair value refers to an exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal market in which the reporting entity transacts based on the assumptions market participants would use when pricing the asset or liability assuming its highest and best use. A fair value hierarchy has been established that prioritizes the information used to develop those assumptions giving priority, from highest to lowest, to quoted prices in active markets for identical assets and liabilities (Level 1); observable inputs not included in Level 1, for example, quoted prices for similar assets and liabilities (Level 2); and unobservable data (Level 3), for example, a reporting entity’s own internal data based on the best information available in the circumstances. The Partnership uses fair value measurements to record derivatives, asset retirement obligations and impairments. Fair value measurements are also used to perform goodwill impairment testing and report fair values for certain items contained in this Report. The Partnership considers any transfers between levels within the fair value hierarchy to have occurred at the beginning of a quarterly reporting period. The Partnership did not recognize any transfers between Level 1 and Level 2 of the fair value hierarchy and did not change its valuation techniques or inputs during the year ended December 31, 2013. | ||||||||||||
Notes 6 and 12 contain more information regarding fair value measurements. | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
Cash equivalents are highly liquid investments with an original maturity of three months or less and are stated at cost plus accrued interest, which approximates fair value. The Partnership had no restricted cash at December 31, 2013 and 2012. | ||||||||||||
Cash Management | ||||||||||||
The operating subsidiaries participate in an intercompany cash management program with those that are FERC-regulated participating to the extent they are permitted under FERC regulations. Under the cash management program, depending on whether a participating subsidiary has short-term cash surpluses or cash requirements, Boardwalk Pipelines either provides cash to them or they provide cash to Boardwalk Pipelines. The transactions are represented by demand notes and are stated at historical carrying amounts. Interest income and expense is recognized on an accrual basis when collection is reasonably assured. The interest rate on intercompany demand notes is London Interbank Offered Rate (LIBOR) plus one percent and is adjusted every three months. | ||||||||||||
Trade and Other Receivables | ||||||||||||
Trade and other receivables are stated at their historical carrying amount, net of allowances for doubtful accounts. The Partnership establishes an allowance for doubtful accounts on a case-by-case basis when it believes the required payment of specific amounts owed is unlikely to occur. Uncollectible receivables are written off when a settlement is reached for an amount that is less than the outstanding historical balance or a receivable amount is deemed otherwise unrealizable. | ||||||||||||
Gas Stored Underground and Gas Receivables and Payables | ||||||||||||
Certain of the Partnership's operating subsidiaries have underground gas in storage which is utilized for system management and operational balancing, as well as for services including firm and interruptible storage associated with certain no-notice and parking and lending (PAL) services. Gas stored underground includes the historical cost of natural gas volumes owned by the operating subsidiaries, at times reduced by certain operational encroachments upon that gas. Current gas stored underground represents net retained fuel remaining after providing transportation and storage services which is available for resale and is valued at the lower of weighted-average cost or market. | ||||||||||||
The operating subsidiaries provide storage services whereby they store natural gas or NGLs on behalf of customers and also periodically hold customer gas under PAL services. Since the customers retain title to the gas held by the Partnership in providing these services, the Partnership does not record the related gas on its balance sheet. Certain of the Partnership's operating subsidiaries also periodically lend gas and NGLs to customers. | ||||||||||||
In the course of providing transportation and storage services to customers, the operating subsidiaries may receive different quantities of gas from shippers and operators than the quantities delivered on behalf of those shippers and operators. This results in transportation and exchange gas receivables and payables, commonly known as imbalances, which are settled in cash or the receipt or delivery of gas in the future. Settlement of imbalances requires agreement between the pipelines and shippers or operators as to allocations of volumes to specific transportation contracts and timing of delivery of gas based on operational conditions. The receivables and payables are valued at market price for operations where regulatory accounting is not applicable and are valued at the historical value of gas in storage for operations where regulatory accounting is applicable. | ||||||||||||
Materials and Supplies | ||||||||||||
Materials and supplies are carried at average cost and are included in Other Assets on the Consolidated Balance Sheets. The Partnership expects its materials and supplies to be used for capital projects related to its property, plant and equipment and for future growth projects. | ||||||||||||
Property, Plant and Equipment (PPE) and Repair and Maintenance Costs | ||||||||||||
PPE is recorded at its original cost of construction or fair value of assets purchased. Construction costs and expenditures for major renewals and improvements which extend the lives of the respective assets are capitalized. Construction work in progress is included in the financial statements as a component of PPE. All repair and maintenance costs are expensed as incurred. | ||||||||||||
Depreciation of PPE related to operations for which regulatory accounting does not apply is provided for using the straight-line method of depreciation over the estimated useful lives of the assets, which range from 3 to 35 years. The ordinary sale or retirement of PPE for these assets could result in a gain or loss. Depreciation of PPE related to operations for which regulatory accounting is applicable is provided for primarily on the straight-line method at FERC-prescribed rates over estimated useful lives of 5 to 62 years. Reflecting the application of composite depreciation, gains and losses from the ordinary sale or retirement of PPE for these assets are not recognized in earnings and generally do not impact PPE, net. | ||||||||||||
Note 7 contains more information regarding the Partnership’s PPE. | ||||||||||||
Goodwill and Intangible Assets | ||||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets acquired and liabilities assumed. Goodwill is tested for impairment at the reporting unit level at least annually, as of November 30, or more frequently when events occur and circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Accounting requirements provide that a reporting entity may perform an optional qualitative assessment on an annual basis to determine whether events occurred or circumstances changed that would more likely than not reduce the fair value of a reporting unit below its carrying amount. If an initial qualitative assessment identifies that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or the optional qualitative assessment is not performed, a quantitative analysis is performed under a two-step impairment test to measure whether the fair value of the reporting unit is less than its carrying amount. If based upon a quantitative analysis the fair value of the reporting unit is less than its carrying amount, including goodwill, the Partnership performs an analysis of the fair value of all the assets and liabilities of the reporting unit. If the implied fair value of the reporting unit's goodwill is determined to be less than its carrying amount, an impairment loss is recognized for the difference. | ||||||||||||
Intangible assets are those assets which provide future economic benefit but have no physical substance. The Partnership recorded intangible assets for customer relationships obtained through the purchases of Petal and Louisiana Midstream. The customer relationships, which are included in Other Assets on the Consolidated Balance Sheets, have a finite life and are being amortized in a systematic and rational manner over their estimated useful lives. | ||||||||||||
Note 8 contains additional information regarding the Partnership's goodwill and intangible assets. | ||||||||||||
Impairment of Long-lived Assets (including Tangible and Definite-lived Intangible Assets) | ||||||||||||
The Partnership evaluates its long-lived and intangible assets for impairment when, in management’s judgment, events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. When such a determination has been made, management’s estimate of undiscounted future cash flows attributable to the remaining economic useful life of the asset is compared to the carrying amount of the asset to determine whether an impairment has occurred. If an impairment of the carrying amount has occurred, the amount of impairment recognized in the financial statements is determined by estimating the fair value of the assets and recording a loss to the extent that the carrying amount exceeds the estimated fair value. | ||||||||||||
Capitalized Interest and Allowance for Funds Used During Construction (AFUDC) | ||||||||||||
The Partnership records capitalized interest, which represents the cost of borrowed funds used to finance construction activities for operations where regulatory accounting is not applicable. The Partnership records AFUDC, which represents the cost of funds, including equity funds, applicable to regulated natural gas transmission plant under construction as permitted by FERC regulatory practices, in connection with the Partnership’s operations where regulatory accounting is applicable. Capitalized interest and the allowance for borrowed funds used during construction are recognized as a reduction to Interest expense and the allowance for equity funds used during construction is included in Miscellaneous other income, net within the Consolidated Statements of Income. The following table summarizes capitalized interest and the allowance for borrowed funds and allowance for equity funds used during construction (in millions): | ||||||||||||
For the Year Ended | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Capitalized interest and allowance for borrowed funds used during construction | $ | 6.4 | $ | 4.7 | $ | 2 | ||||||
Allowance for equity funds used during construction | 0.2 | 0.4 | 0.6 | |||||||||
Income Taxes | ||||||||||||
The Partnership is not a taxable entity for federal income tax purposes. As such, it does not directly pay federal income tax. The Partnership’s taxable income or loss, which may vary substantially from the net income or loss reported in the Consolidated Statements of Income, is includable in the federal income tax returns of each partner. The aggregate difference in the basis of the Partnership’s net assets for financial and income tax purposes cannot be readily determined as the Partnership does not have access to the information about each partner’s tax attributes related to the Partnership. The subsidiaries of the Partnership directly incur some income-based state taxes which are presented in Income taxes on the Consolidated Statements of Income. | ||||||||||||
Note 14 contains more information regarding the Partnership’s income taxes. | ||||||||||||
Revenue Recognition | ||||||||||||
The maximum rates that may be charged by the majority of the Partnership's operating subsidiaries for their services are established through FERC’s cost-based rate-making process; however, rates charged by those operating subsidiaries may be less than those allowed by FERC. Revenues from transportation and storage services are recognized in the period the service is provided based on contractual terms and the related volumes transported or stored. In connection with some PAL and interruptible storage service agreements, cash is received at inception of the service period resulting in the recording of deferred revenues which are recognized in revenues over the period the services are provided. At December 31, 2013 and 2012, the Partnership had deferred revenues of $7.9 million and $17.3 million related to PAL and interruptible storage services and $4.6 million and $5.6 million related to a firm transportation agreement that was paid in advance. The deferred revenues related to PAL and interruptible storage services will be recognized in 2014 and 2015 and the deferred revenues related to the firm transportation agreement will be recognized through 2018. | ||||||||||||
Retained fuel is recognized in revenues at market prices in the month of retention for operations where regulatory accounting is not applicable. The related fuel consumed in providing transportation services is recorded in Fuel and transportation expenses at market prices in the month consumed. In some cases, customers may elect to pay cash for the cost of fuel used in providing transportation services instead of having fuel retained in-kind. Retained fuel included in Transportation on the Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011 was $76.9 million, $71.8 million and $105.6 million. | ||||||||||||
In certain of the Partnership's operations, the Partnership has contractual retainage provisions in some of its storage contracts that provide for the Partnership to retain ownership of 0.5% of customer inventory volumes injected into storage wells. The contract allows the Partnership to sell the retainage volumes if commercially marketable volumes of the Partnership's retainage are on hand. The Partnership recognizes revenue for retainage volumes upon the physical sale of such volumes. | ||||||||||||
Under FERC regulations, certain revenues that the operating subsidiaries collect may be subject to possible refunds to their customers. Accordingly, during a rate case, estimates of rate refund liabilities are recorded considering regulatory proceedings, advice of counsel and estimated risk-adjusted total exposure, as well as other factors. At December 31, 2013 and 2012, there were no liabilities for any open rate case recorded on the Consolidated Balance Sheets. | ||||||||||||
Asset Retirement Obligations | ||||||||||||
The accounting requirements for existing legal obligations associated with the future retirement of long-lived assets require entities to record the fair value of a liability for an asset retirement obligation in the period during which the liability is incurred. The liability is initially recognized at fair value and is increased with the passage of time as accretion expense is recorded, until the liability is ultimately settled. The accretion expense is included within Operation and maintenance costs within the Consolidated Statements of Income. An amount corresponding to the amount of the initial liability is capitalized as part of the carrying amount of the related long-lived asset and depreciated over the useful life of that asset. | ||||||||||||
Note 9 contains more information regarding the Partnership’s asset retirement obligations. | ||||||||||||
Environmental Liabilities | ||||||||||||
The Partnership records environmental liabilities based on management’s estimate of the undiscounted future obligation for probable costs associated with environmental assessment and remediation of operating sites. These estimates are based on evaluations and discussions with counsel and operating personnel and the current facts and circumstances related to these environmental matters. | ||||||||||||
Note 5 contains more information regarding the Partnership’s environmental liabilities. | ||||||||||||
Defined Benefit Plans | ||||||||||||
The Partnership maintains certain postretirement benefit plans for certain employees. The Partnership funds these plans through periodic contributions which are invested until the benefits are paid out to the participants. The net benefit cost of the plan is recorded in the Consolidated Statements of Income. The Partnership records an asset or liability based on the overfunded or underfunded status of the plan. Any deferred amounts related to unrecognized gains and losses or changes in actuarial assumptions are recorded as either a regulatory asset or liability or recorded as a component of accumulated other comprehensive income (AOCI) until those gains or losses are recognized in the Consolidated Statements of Income. | ||||||||||||
Note 12 contains more information regarding the Partnership’s pension and postretirement benefit obligations. | ||||||||||||
Unit-Based and Other Long-Term Compensation | ||||||||||||
The Partnership provides awards of phantom common units (Phantom Common Units) to certain employees under its Long-Term Incentive Plan (LTIP). The Partnership also provides to certain employees awards of unit appreciation rights (UARs) and long-term cash bonuses (Long-Term Cash Bonuses) under the Boardwalk Pipeline Partners Unit Appreciation Rights and Cash Bonus Plan. | ||||||||||||
The Partnership measures the cost of an award issued in exchange for employee services based on the grant-date fair value of the award, or the stated amount in the case of the Long-Term Cash Bonuses. All outstanding awards are either required or expected to be settled in cash and are classified as a liability until settlement. The unit-based compensation awards are remeasured each reporting period until the final amount of awards is determined. The related compensation expense, less applicable estimates of forfeitures, is recognized over the period that employees are required to provide services in exchange for the awards, usually the vesting period. | ||||||||||||
Note 12 contains additional information regarding the Partnership’s unit-based and other long-term compensation. | ||||||||||||
Partner Capital Accounts | ||||||||||||
For purposes of maintaining capital accounts, items of income and loss of the Partnership are allocated among the partners each year, or portion thereof, in accordance with the partnership agreement. Generally, net income for each period is allocated among the partners based on their respective ownership interests after deducting any priority allocations in the form of cash distributions paid to the general partner as the holder of IDRs. | ||||||||||||
Derivative Financial Instruments | ||||||||||||
The Partnership use futures, swaps, and option contracts (collectively, derivatives) to hedge exposure to various risks, including natural gas commodity and interest rate risk. The effective portion of the related unrealized gains and losses resulting from changes in fair values of the derivatives contracts designated as cash flow hedges are deferred as a component of AOCI. The deferred gains and losses are recognized in earnings when the hedged anticipated transactions affect earnings. Changes in fair value of derivatives that are not designated as cash flow hedges are recognized in earnings in the periods that those changes in fair value occur. | ||||||||||||
The changes in fair values of the derivatives designated as cash flow hedges are expected to, and do, have a high correlation to changes in value of the anticipated transactions. Each reporting period the Partnership measures the effectiveness of the cash flow hedge contracts. To the extent the changes in the fair values of the hedge contracts do not effectively offset the changes in the estimated cash flows of the anticipated transactions, the ineffective portion of the hedge contracts is currently recognized in earnings. If it becomes probable that the anticipated transactions will not occur, hedge accounting would be terminated and changes in the fair values of the associated derivative financial instruments would be recognized currently in earnings. The Partnership did not discontinue any cash flow hedges during the years ended December 31, 2013 and 2012. | ||||||||||||
The effective component of gains and losses resulting from changes in fair values of the derivatives designated as cash flow hedges are deferred as a component of AOCI. The deferred gains and losses associated with the anticipated operational sale of gas reported as current Gas stored underground are recognized in operating revenues when the anticipated transactions affect earnings. In situations where continued reporting of a loss in AOCI would result in recognition of a future loss on the combination of the derivative and the hedged transaction, the loss is required to be immediately recognized in earnings for the amount that is not expected to be recovered. No such losses were recognized in the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
Note 6 contains more information regarding the Partnership’s derivative financial instruments. |
Investments
Investments | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Investments [Abstract] | ' | |||
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' | |||
Note 3: Investments | ||||
Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG Terminal Projects | ||||
In 2013, the Partnership executed an agreement with the Williams Companies, Inc (Williams) to develop the Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG Terminal Projects - projects that would transport NGLs from the Marcellus and Utica shale plays to the Lake Charles, Louisiana area, and the construction of related fractionation, storage and liquefied petroleum gas (LPG) terminal export facilities. The proposed project would include constructing a new pipeline, a new large-scale fractionation plant and related liquids storage and transport facilities and a new export LPG terminal and related facilities (collectively, the Bluegrass Project). | ||||
In connection with the Bluegrass Project, the Partnership executed agreements with BPHC to form Boardwalk Bluegrass Pipeline, LLC (Boardwalk Bluegrass) and Boardwalk Moss Lake, LLC (Boardwalk Moss Lake). Boardwalk Bluegrass and Boardwalk Moss Lake, together with affiliates of Williams, formed Bluegrass Pipeline Company LLC (Bluegrass Pipeline), Moss Lake Fractionation LLC (Moss Lake Fractionation) and Moss Lake LPG Terminal LLC (Moss Lake LPG) to pursue and, if approved, develop, own and construct the pipeline, fractionation and export LPG terminal facilities. Boardwalk Bluegrass currently owns 50% of the equity ownership interests in Bluegrass Pipeline, and Boardwalk Moss Lake currently owns 50% of the equity ownership interests in Moss Lake Fractionation and Moss Lake LPG with affiliates of Williams owning the other 50%. The parties have equal voting and participation rights. | ||||
Boardwalk Bluegrass and Boardwalk Moss Lake | ||||
The Partnership contributed a total of $10.0 million for initial equity ownership interests of 59% and 61% in Boardwalk Bluegrass and Boardwalk Moss Lake, respectively, with BPHC owning the remaining equity ownership interests. BPHC has agreed to contribute to these entities to fund certain agreed upon preconstruction development costs, with BPHC contributing all additional required capital until such time as BPHC has a 90% equity ownership interest in each entity. Additional capital required for Boardwalk Bluegrass and Boardwalk Moss Lake to continue to pursue the Bluegrass Project is subject to approval by the Partnership and BPHC. As of December 31, 2013, the Partnership held equity ownership interests of 10% and 23%, respectively, in Boardwalk Bluegrass and Boardwalk Moss Lake and has contributed $11.9 million to these entities. | ||||
The Partnership determined that Boardwalk Bluegrass and Boardwalk Moss Lake were VIEs due to disproportionate voting rights held by BPHC. In accordance with accounting literature applicable to consolidations, the Partnership is the primary beneficiary of Boardwalk Bluegrass and Boardwalk Moss Lake because the Partnership has the power to direct the significant activities related to each entity's investment decision in the underlying investment entities. | ||||
The financial information of Boardwalk Bluegrass and Boardwalk Moss Lake was reported at historical carrying amounts in accordance with the accounting requirements applicable to transactions between entities under common control. As of December 31, 2013, the Partnership included in its Consolidated Balance Sheet the following balances that represent amounts recorded by Boardwalk Bluegrass and Boardwalk Moss Lake (in millions): | ||||
Cash | $ | 15 | ||
Investment in unconsolidated affiliates | 78.6 | |||
Construction work in progress | 6.8 | |||
Trade payables | 0.2 | |||
Other payables | 4.7 | |||
Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG | ||||
Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG were determined to be VIEs, because the entities will require additional funding from each equity owner throughout the development and construction phases of the Bluegrass Project. Boardwalk Bluegrass and Boardwalk Moss Lake are not the primary beneficiaries of Bluegrass Pipeline, Moss Lake Fractionation or Moss Lake LPG, because the power to direct the activities that most significantly impact the entity's economic performance is shared between the equity owners. As a result, Boardwalk Bluegrass and Boardwalk Moss Lake account for the investments in Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG under the equity method of accounting. Boardwalk Bluegrass' and Boardwalk Moss Lake's maximum exposure to loss is limited to the carrying value of its investments in Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG, which was $78.6 million as of December 31, 2013. The Partnership's maximum exposure to loss is limited to the amount of the capital contributions it has made to Boardwalk Bluegrass and Boardwalk Moss Lake, or $11.9 million, as of December 31, 2013. |
Acquisitions
Acquisitions | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Business Combination Disclosure [Text Block] | ' | |||||||
Note 4: Acquisitions | ||||||||
In late 2011 and in 2012, the Partnership completed the acquisitions of Louisiana Midstream and Petal. These acquisitions were made as part of the Partnership's long-term growth and diversification strategy and to complement the Partnership's existing midstream business. | ||||||||
Boardwalk Louisiana Midstream, LLC | ||||||||
In October 2012, the Partnership acquired Louisiana Midstream from PL Logistics LLC for $620.2 million in cash, after customary adjustments and net of cash acquired. The purchase price was funded through a $225.0 million, five year term loan, borrowings under the Partnership's revolving credit facility and the issuance and sale of common units. For the period from August 16, 2012 through October 15, 2012, the acquisition and related expenses were initially financed through a joint venture with BPHC, whereby BPHC owned 65% of the equity interests of the joint venture and the Partnership owned the remaining 35%. On October 15, 2012, the Partnership acquired BPHC’s 65% equity ownership interest for $269.2 million in cash, therefore, the assets and liabilities of the consolidated joint venture were recognized at the carrying amounts as the date of transfer and the $2.2 million difference between the purchase price and the $267.0 million carrying amount of the net assets acquired as the date of transfer was recognized as an adjustment to partners’ capital. The transaction was accounted for as a transaction between entities under common control, which required the Partnership to fully consolidate the joint venture from the date of its formation, or August 16, 2012. | ||||||||
In the second quarter 2013, the purchase price allocation for Louisiana Midstream was made final and was adjusted to reflect the amount of ethylene in storage at the purchase date. The Consolidated Balance Sheet at December 31, 2012, was adjusted to increase the fair value of Gas and liquids stored underground and reduce Goodwill by $3.8 million. | ||||||||
Petal Gas Storage, LLC | ||||||||
In February 2012, the Partnership acquired BPHC's 80% equity ownership interest in Petal (formerly referred to as Boardwalk HP Storage, LLC) for $284.8 million in cash, which was accounted for as a transaction between entities under common control. Therefore, the assets and liabilities were recognized at their carrying amounts at the date of transfer and the $3.0 million difference between the purchase price and the $281.8 million carrying amount of the net assets acquired at the date of transfer was recognized as an adjustment to partners' capital. | ||||||||
Pro Forma Financial Information (Unaudited) | ||||||||
The following unaudited pro forma results of operations assume that the acquisitions had been included in the Partnership's results of operations for the periods indicated and assuming that the acquisitions occurred on January 1, 2011. Such results are not necessarily indicative of the actual results of operations that would have been realized nor are they necessarily indicative of future results of operations. These pro forma results also do not reflect any cost savings, operating synergies, or revenue enhancements that the Partnership may achieve or the costs necessary to achieve those cost savings, operating synergies or revenue enhancements (dollars in millions): | ||||||||
Pro-Forma | ||||||||
Year ended December 31, | ||||||||
2012 | 2011 | |||||||
Revenues | $ | 1,240.90 | $ | 1,253.70 | ||||
Net Income | $ | 327 | $ | 253.5 | ||||
The pro forma information was adjusted for the following items: | ||||||||
• | Revenues and operating costs were based on actual results for the periods indicated, except that transaction costs related to the acquisitions of Louisiana Midstream and Petal were excluded; | |||||||
• | Interest expense was based upon the amount of borrowings outstanding and the average cost of debt; and | |||||||
• | Depreciation and amortization expense was calculated using PPE and intangible asset amounts as determined in the purchase price allocation and estimated useful lives. | |||||||
Acquisition Costs | ||||||||
In connection with the acquisitions of Louisiana Midstream and Petal, the Partnership incurred $4.3 million of acquisition costs for each of the years ended December 31, 2012 and 2011. Acquisition costs were expensed as incurred and were recorded in administrative and general expenses. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Note 5: Commitments and Contingencies | ||||
Legal Proceedings and Settlements | ||||
The Partnership's subsidiaries are parties to various legal actions arising in the normal course of business. Management believes the disposition of these outstanding legal actions will not have a material impact on the Partnership's financial condition, results of operations or cash flows. | ||||
Whistler Junction Matter | ||||
The Partnership's Gulf South subsidiary and several other defendants, including Mobile Gas Service Corporation (MGSC), have been named as defendants in nine lawsuits, including one purported class action suit, commenced by multiple plaintiffs in the Circuit Court of Mobile County, Alabama. The plaintiffs seek unspecified damages for personal injury and property damage related to an alleged release of mercaptan at the Whistler Junction facilities in Eight Mile, Alabama. Gulf South delivers natural gas to MGSC, the local distribution company for that region, at Whistler Junction where MGSC odorizes the gas prior to delivery to end user customers by injecting mercaptan into the gas stream, as required by law. The cases are: Parker, et al. v. MGSC, et al. (Case No. CV-12-900711), Crum, et al. v. MGSC, et al. (Case No. CV-12-901057), Austin, et al. v. MGSC, et al. (Case No. CV-12-901133), Moore, et al. v. MGSC, et al. (Case No. CV-12-901471), Davis, et al. v. MGSC, et al. (Case No. CV-12-901490), Joel G. Reed, et al. v. MGSC, et al. (Case No. CV-2013-922265), The Housing Authority of the City of Prichard, Alabama v. MGSC, et al. (Case No. CV-2013-901002), Robert Evans, et al. v. MGSC, et al. (Case No. CV-2013-902627), and Devin Nobles, et al. v. MGSC, et al. (Case No. CV-2013-902786). Gulf South has denied liability. Gulf South has demanded that MGSC indemnify Gulf South against all liability related to these matters pursuant to a right-of-way agreement between Gulf South and MGSC, and has filed cross-claims against MGSC for any such liability. MGSC has also filed cross-claims against Gulf South seeking indemnity and other relief from Gulf South. | ||||
Southeast Louisiana Flood Protection Litigation | ||||
The Partnership and its subsidiary, Gulf South, along with approximately 100 other energy companies operating in Southern Louisiana, have been named as defendants in a petition for damages and injunctive relief in state district court for Orleans Parish, Louisiana (Case No. 13-6911) by the Board of Commissioners of the Southeast Louisiana Flood Protection Authority - East (Flood Protection Authority). The case was filed in state court, but was removed to the United States District Court for the Eastern District of New Orleans in August 2013. The plaintiff has moved for remand back to state court, which motion has been argued and is under consideration by the court. The lawsuit claims include negligence, strict liability, public nuisance, private nuisance, breach of contract, and breach of the natural servitude of drain against the defendants, alleging that the defendants’ drilling, dredging, pipeline and industrial operations since the 1930s have caused increased storm surge risk, increased flood protection costs and unspecified damages to the Flood Protection Authority. In addition to attorney fees and unspecified monetary damages, the lawsuit seeks abatement and restoration of the coastal lands, including backfilling and revegetating of canals dredged and used by the defendants, and abatement and restoration activities such as wetlands creation, reef creation, land bridge construction, hydrologic restoration, shoreline protection, structural protection, bank stabilization, and ridge restoration. | ||||
The outcome of these cases cannot be predicted at this time; however, based on the facts and circumstances presently known, in the opinion of management, these cases will not be material to the Partnership's or Gulf South's financial condition, results of operations or cash flows. | ||||
Environmental and Safety Matters | ||||
The operating subsidiaries are subject to federal, state, and local environmental laws and regulations in connection with the operation and remediation of various operating sites. As of December 31, 2013, and 2012, the Partnership had an accrued liability of approximately $6.5 million and $7.8 million related to assessment and/or remediation costs associated with the historical use of polychlorinated biphenyls, petroleum hydrocarbons and mercury, groundwater protection measures and other costs. The liability represents management’s estimate of the undiscounted future obligations based on evaluations and discussions with counsel and operating personnel and the current facts and circumstances related to these matters. The related expenditures are expected to occur over the next eight years. As of December 31, 2013, and 2012, approximately $1.5 million and $2.2 million were recorded in Other current liabilities and approximately $5.0 million and $5.6 million were recorded in Other Liabilities and Deferred Credits. | ||||
Clean Air Act | ||||
The Partnership’s pipelines are subject to the Clean Air Act, as amended, (CAA) and the CAA Amendments of 1990, as amended, (Amendments) which added significant provisions to the CAA. The Amendments require the Environmental Protection Agency (EPA) to promulgate new regulations pertaining to mobile sources, air toxics, areas of ozone non-attainment, greenhouse gases and regulations affecting reciprocating engines subject to Maximum Achievable Control Technology (MACT). The operating subsidiaries presently operate two facilities in areas affected by non-attainment requirements for the current ozone standard (8-hour ozone standard). If the EPA designates additional new non-attainment areas or promulgates new air regulations where the Partnership operates, the cost of additions to PPE is expected to increase. The Partnership has assessed the impact of the CAA on its facilities and does not believe compliance with these regulations will have a material impact on its financial condition, results of operations or cash flows. | ||||
In 2008, the EPA adopted regulations lowering the 8-hour ozone standard relevant to non-attainment areas. Under the regulations, new non-attainment areas were identified in April 2012. The Partnership identified one facility which could require the installation of additional emission controls for compliance between 2014 and 2019. The 8-hour ozone standard is under review by the EPA with final rulemaking expected to be completed in 2014. Revisions to the regulation could lower the 8-hour ozone standard set in 2008 and include a compliance deadline between 2017 and 2031. The Partnership continues to monitor this regulation relative to potentially impacted facilities. | ||||
The Partnership is required to file annual reports with the EPA regarding greenhouse gas emissions from its compressor stations, pursuant to final rules issued by the EPA regarding the reporting of greenhouse gas emissions from sources in the United States (U.S.) that annually emit 25,000 or more metric tons of greenhouse gases, including carbon dioxide, methane and others. Additionally, the Partnership is required to conduct periodic and various facility surveys across its entire system to comply with the EPA's greenhouse gas emission calculations and reporting regulations. Some states have also adopted laws regulating greenhouse gas emissions, although none of the states in which the Partnership operates have adopted such laws. The federal rules and determinations regarding greenhouse gas emissions have not had, and are not expected to have, a material effect on the Partnership's financial condition, results of operations or cash flows. | ||||
Lease Commitments | ||||
The Partnership has various operating lease commitments extending through the year 2019 generally covering office space and equipment rentals. Total lease expense for the years ended December 31, 2013, 2012 and 2011 was approximately $8.6 million, $6.4 million and $4.5 million. The following table summarizes minimum future commitments related to these items at December 31, 2013 (in millions): | ||||
2014 | $ | 5.3 | ||
2015 | 4.9 | |||
2016 | 4.8 | |||
2017 | 2.6 | |||
2018 | 1.4 | |||
Thereafter | 0.2 | |||
Total | $ | 19.2 | ||
Commitments for Construction | ||||
The Partnership’s future capital commitments are comprised of binding commitments under purchase orders for materials ordered but not received and firm commitments under binding construction service agreements. The commitments as of December 31, 2013, were approximately $86.1 million, all of which are expected to be settled in 2014. | ||||
Pipeline Capacity Agreements | ||||
The Partnership’s operating subsidiaries have entered into pipeline capacity agreements with third-party pipelines that allow the operating subsidiaries to transport gas to off-system markets on behalf of customers. The Partnership incurred expenses of $9.8 million, $9.1 million and $9.8 million related to pipeline capacity agreements for the years ended December 31, 2013, 2012 and 2011. The future commitments related to pipeline capacity agreements as of December 31, 2013, were (in millions): | ||||
2014 | $ | 10.9 | ||
2015 | 10.3 | |||
2016 | 9.3 | |||
2017 | 8.7 | |||
2018 | 4.7 | |||
Thereafter | — | |||
Total | $ | 43.9 | ||
Capital Lease | ||||
In 2012, the Partnership entered into an agreement to construct and lease an office building in Owensboro, Kentucky. The construction of the building was completed and the Partnership took possession of the building in the third quarter 2013, at which time the Partnership recorded a capital lease asset and obligation of $10.5 million. The office building lease has a term of fifteen years with two twenty-year renewal options. Future commitments under this capital lease are as follows (in millions): | ||||
2014 | $ | 1 | ||
2015 | 1 | |||
2016 | 1 | |||
2017 | 1 | |||
2018 | 1 | |||
Thereafter | 10.6 | |||
Total minimum lease payments | 15.6 | |||
Less amounts representing interest | (5.2 | ) | ||
Present value of obligation under capital lease | 10.4 | |||
Less: current portion of obligations under capital lease | (0.4 | ) | ||
(recorded in other current liabilities) | ||||
Long-term obligations under capital lease | $ | 10 | ||
Amortization of the office building under the capital lease of $0.3 million is included in depreciation expense. As of December 31, 2013, assets recorded under the capital lease were $10.5 million and the accumulated amortization was $0.3 million. |
Fair_Value_Measurements_Deriva
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||||||||||||||||||
Note 6: Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) | ||||||||||||||||||||||||||||
The table below identifies the Partnership's assets that were recorded at fair value at December 31, 2013. There were no liabilities recorded at fair value at December 31, 2013 (in millions): | ||||||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
31-Dec-13 | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs | Total Gains (losses) for the year ended | ||||||||||||||||||||||||
(Level 3) | 31-Dec-13 | |||||||||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Commodity contracts | $ | 0.5 | $— | $ | 0.5 | $— | ||||||||||||||||||||||
The table below identifies the Partnership's assets and liabilities that were recorded at fair value at December 31, 2012 (in millions): | ||||||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||
December 31, | Quoted prices in active markets for identical assets | Significant other observable inputs | Significant unobservable inputs | Total Gains (losses) for the year ended | ||||||||||||||||||||||||
2012 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-12 | ||||||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Commodity contracts | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
Commodity contracts | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||||||
Nonrecurring fair value measurements - Assets | ||||||||||||||||||||||||||||
Assets to be abandoned (1) | $ | — | $ | — | $ | — | $ | — | $ | (3.5 | ) | |||||||||||||||||
Assets held for sale (2) | — | — | — | — | (2.8 | ) | ||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | (6.3 | ) | ||||||||||||||||||
-1 | In 2012, the Partnership determined that it would retire a number of small-diameter pipeline assets and recorded an asset impairment charge of $5.2 million comprised of the carrying amount of the assets and amounts related to asset retirement obligations for the assets. Additionally, in 2012, the Partnership recorded an asset impairment charge when it determined that it would retire a turbine associated with one of its compressor stations which had a carrying amount of $1.1 million. | |||||||||||||||||||||||||||
-2 | In 2012, the Partnership recognized a $2.8 million impairment charge related to its Owensboro, Kentucky, office building. The office building was sold for an amount that equaled its carrying amount of $3.0 million in the third quarter 2012. | |||||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||||||
The Partnership uses futures, swaps and option contracts (collectively, derivatives) to hedge exposure to natural gas commodity price risk related to the future operational sales of natural gas and cash for fuel reimbursement where customers pay cash for the cost of fuel used in providing transportation services as opposed to having fuel retained in kind. This price risk exposure includes approximately $0.3 million and $7.0 million of gas stored underground at December 31, 2013, and 2012, which the Partnership owns and carries on its balance sheet as current Gas stored underground. At December 31, 2013, approximately 2.4 billion cubic feet (Bcf) of anticipated future sales of natural gas and cash for fuel reimbursement were hedged with derivatives having settlement dates in 2013 and 2014. The derivatives qualify for cash flow hedge accounting and are designated as such. The Partnership's natural gas derivatives are reported at fair value based on New York Mercantile Exchange (NYMEX) quotes for natural gas futures and options. The NYMEX quotes are deemed to be observable inputs in an active market for similar assets and liabilities and are considered Level 2 inputs for purposes of fair value disclosures. | ||||||||||||||||||||||||||||
In September 2012, the Partnership settled $100.0 million notional amount of interest rate swaps outstanding associated with a $200.0 million term loan. The swaps were not designated as cash flow hedges and changes in the fair value of the swaps were recognized as interest expense in the period that those changes occurred. For the year ended December 31, 2012 and 2011, the Partnership recognized interest expense of $2.7 million and $0.3 million related to the interest rate swaps. | ||||||||||||||||||||||||||||
In 2012, the Partnership entered into Treasury rate locks for notional amounts of $600.0 million of principal to hedge the risk attributable to changes in the risk-free component of forward 10-year interest rates. The Treasury rate locks were designated as cash flow hedges. The Partnership settled the rate locks concurrently with the issuance of the 10-year notes described in Note 11 and paid the counterparties approximately $7.1 million. The losses were deferred as a component of Accumulated other comprehensive loss and will be amortized to interest expense over the 10-year terms of the notes. | ||||||||||||||||||||||||||||
The fair value of derivatives existing as of December 31, 2013 and 2012, were included in the following captions in the Consolidated Balance Sheets (in millions): | ||||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Balance sheet | Fair | Balance | Fair | Balance sheet | Fair | Balance sheet | Fair | |||||||||||||||||||||
location | Value | sheet location | Value | location | Value | location | Value | |||||||||||||||||||||
Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||
Commodity contracts | Other current assets | $ | 0.5 | Other current assets | $ | 0.1 | Other current liabilities | $ | — | Other current liabilities | $ | 0.1 | ||||||||||||||||
Other non-current assets | $ | — | Other non-current assets | $ | — | Other non-current liabilities | $ | — | Other non-current liabilities | $ | — | |||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2013, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | 1.6 | Operating revenues | $ | — | N/A | $ | — | ||||||||||||||||||||
Net gain on disposal of operating assets | 1.2 | N/A | — | |||||||||||||||||||||||||
Interest rate contracts (1) | — | Interest expense | (2.4 | ) | N/A | — | ||||||||||||||||||||||
$ | 1.6 | $ | (1.2 | ) | $ | — | ||||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in current and previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2012, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | — | Operating revenues (2) | $ | 0.1 | N/A | $ | — | ||||||||||||||||||||
Interest rate contracts (1) | (7.1 | ) | Interest expense | (2.1 | ) | N/A | — | |||||||||||||||||||||
$ | (7.1 | ) | $ | (2.0 | ) | $ | — | |||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
-2 | $0.1 million was recorded in Other revenues. | |||||||||||||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2011, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | 3.1 | Operating revenues (2) | $ | 1.5 | N/A | $ | — | ||||||||||||||||||||
Interest rate contracts (1) | — | Interest expense | (1.7 | ) | N/A | — | ||||||||||||||||||||||
$ | 3.1 | $ | (0.2 | ) | $ | — | ||||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
-2 | $1.1 million was recorded in Transportation revenues and $0.4 million was recorded in Other revenues. | |||||||||||||||||||||||||||
The Partnership has entered into master netting agreements to manage counterparty credit risk associated with its derivatives; however, it does not offset on its balance sheets fair value amounts recorded for derivative instruments under these agreements. At December 31, 2013, the Partnership's derivatives were with one counterparty. The net receivable position with the Partnership's counterparty was $0.5 million as of December 31, 2013. | ||||||||||||||||||||||||||||
In accordance with the contracts governing the Partnership's derivatives, the counterparty or the Partnership may be required to post cash collateral when credit risk exceeds certain thresholds. The threshold for posting collateral with the counterparty varies based on the credit ratings of the contracting subsidiary of the Partnership or the counterparty. Based on credit ratings at December 31, 2013, the Partnership would be required to post cash collateral to the extent the fair value amount payable to the other party exceeds $10.0 million and the counterparty would be required to post cash collateral to the extent the fair value amount payable to the Partnership exceeds $25.0 million. Additionally, the outstanding derivative contracts contain ratings triggers which would require the Partnership's contracting subsidiary to immediately post collateral in the form of cash or a letter of credit for the full value of any of the derivatives that are in a liability position if the subsidiary's credit rating were reduced below investment grade. At December 31, 2013 and 2012, the Partnership was not required to post any collateral nor did it hold any collateral associated with its outstanding derivatives. | ||||||||||||||||||||||||||||
Nonfinancial Assets and Liabilities | ||||||||||||||||||||||||||||
The Partnership evaluates long-lived assets for impairment when, in management's judgment, events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Refer to the fair value measurements table above for more information. | ||||||||||||||||||||||||||||
Financial Assets and Liabilities | ||||||||||||||||||||||||||||
The following methods and assumptions were used in estimating the fair value disclosure amounts for financial assets and liabilities: | ||||||||||||||||||||||||||||
Cash and Cash Equivalents: For cash and short-term financial assets, the carrying amount is a reasonable estimate of fair value due to the short maturity of those instruments. | ||||||||||||||||||||||||||||
Long-Term Debt: The estimated fair value of the Partnership's publicly traded debt is based on quoted market prices at December 31, 2013 and 2012. The fair market value of the debt that is not publicly traded is based on market prices of similar debt at December 31, 2013, and 2012. The carrying amount of the Partnership's variable-rate debt approximates fair value because the instruments bear a floating market-based interest rate. | ||||||||||||||||||||||||||||
The carrying amount and estimated fair values of the Partnership's financial assets and liabilities which are not recorded at fair value on the Consolidated Balance Sheets as of December 31, 2013, and 2012, were as follows (in millions): | ||||||||||||||||||||||||||||
As of December 31, 2013 | Estimated Fair Value | |||||||||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
Cash and cash equivalents | $ | 28.5 | $ | 28.5 | $ | — | $ | — | $ | 28.5 | ||||||||||||||||||
Financial Liabilities | ||||||||||||||||||||||||||||
Long-term debt | $ | 3,414.40 | (1) | $ | — | $ | 3,573.80 | $ | — | $ | 3,573.80 | |||||||||||||||||
(1) The carrying amount of long-term debt excludes a $10.0 million capital lease obligation. | ||||||||||||||||||||||||||||
As of December 31, 2012 | Estimated Fair Value | |||||||||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||
Cash and cash equivalents | $ | 3.9 | $ | 3.9 | $ | — | $ | — | $ | 3.9 | ||||||||||||||||||
Financial Liabilities | ||||||||||||||||||||||||||||
Long-term debt | $ | 3,539.20 | $ | — | $ | 3,841.10 | $ | — | $ | 3,841.10 | ||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||||||||||||||||||||||||
Other Comprehensive Income (OCI) | ||||||||||||||||||||||||||||
The Partnership estimates that approximately $4.3 million of net gains reported in AOCI as of December 31, 2013, are expected to be reclassified into earnings within the next twelve months. This amount is comprised of a $6.2 million increase to earnings related to net periodic benefit cost and a $1.9 million decrease to earnings related to cash flow hedges. The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Consolidated Balance Sheets for the year ended December 31, 2013 (in millions): | ||||||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||||||
Beginning balance, January 1, 2013 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) | |||||||||||||||||||
Gain recorded in accumulated other comprehensive loss | 1.6 | — | 1.6 | |||||||||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||||||||||||||||||
Other operating revenues | (0.1 | ) | — | (0.1 | ) | |||||||||||||||||||||||
Disposal of operating assets | (1.2 | ) | — | (1.2 | ) | |||||||||||||||||||||||
Interest expense | 2.4 | — | 2.4 | |||||||||||||||||||||||||
Pension and other postretirement benefit costs | — | 0.7 | 0.7 | |||||||||||||||||||||||||
Ending balance, December 31, 2013 | $ | (12.7 | ) | $ | (51.1 | ) | $ | (63.8 | ) | |||||||||||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Consolidated Balance Sheets for the year ended December 31, 2012 (in millions): | ||||||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||||||
Beginning balance, January 1, 2012 | $ | (10.4 | ) | $ | (39.0 | ) | $ | (49.4 | ) | |||||||||||||||||||
Loss recorded in accumulated other comprehensive loss | (7.1 | ) | — | (7.1 | ) | |||||||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||||||
Other operating revenues | (0.1 | ) | — | (0.1 | ) | |||||||||||||||||||||||
Interest expense | 2.1 | — | 2.1 | |||||||||||||||||||||||||
Pension and other postretirement benefit costs | — | (12.8 | ) | (12.8 | ) | |||||||||||||||||||||||
Ending balance, December 31, 2012 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) |
Property_Plant_and_Equipment_P
Property, Plant and Equipment (PPE) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||
Property, Plant and Equipment | ' | |||||||||||||||
Note 7: Property, Plant and Equipment (PPE) | ||||||||||||||||
The following table presents the Partnership’s PPE as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||
Category | 2013 Class | Weighted-Average | 2012 Class | Weighted-Average | ||||||||||||
Amount | Useful Lives | Amount | Useful Lives | |||||||||||||
(Years) | (Years) | |||||||||||||||
Depreciable plant: | ||||||||||||||||
Transmission | $ | 7,067.70 | 37 | $ | 6,908.30 | 37 | ||||||||||
Storage | 749.7 | 38 | 732.3 | 38 | ||||||||||||
Gathering | 326 | 27 | 151 | 21 | ||||||||||||
General | 160.3 | 13 | 145.5 | 12 | ||||||||||||
Rights of way and other | 111.1 | 35 | 105.2 | 33 | ||||||||||||
Total utility depreciable plant | 8,414.80 | 36 | 8,042.30 | 36 | ||||||||||||
Non-depreciable: | ||||||||||||||||
Construction work in progress | 174.5 | 258 | ||||||||||||||
Storage | 90.8 | 80 | ||||||||||||||
Land | 26.9 | 26.7 | ||||||||||||||
Other | 16.3 | 16.3 | ||||||||||||||
Total non-depreciable assets | 308.5 | 381 | ||||||||||||||
Total PPE | 8,723.30 | 8,423.30 | ||||||||||||||
Less: accumulated depreciation | 1,489.20 | 1,234.10 | ||||||||||||||
Total PPE, net | $ | 7,234.10 | $ | 7,189.20 | ||||||||||||
The non-depreciable assets were not included in the calculation of the weighted-average useful lives. | ||||||||||||||||
The Partnership holds undivided interests in certain assets, including the Bistineau storage facility of which the Partnership owns 92%, the Mobile Bay Pipeline of which the Partnership owns 64% and offshore and other assets, comprised of pipeline and gathering assets in which the Partnership holds various ownership interests. Through the acquisition of Louisiana Midstream, the Partnership owns 83% of two ethylene wells and supporting surface facilities in Choctaw, Louisiana, and certain ethylene and propylene pipelines connecting Louisiana Midstream’s storage facilities in Choctaw to chemical manufacturing plants in Geismar, Louisiana. | ||||||||||||||||
The proportionate share of investment associated with these interests has been recorded as PPE on the balance sheets. The Partnership records its portion of direct operating expenses associated with the assets in Operation and maintenance expense. The following table presents the gross PPE investment and related accumulated depreciation for the Partnership’s undivided interests as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Gross PPE | Accumulated Depreciation | Gross PPE | Accumulated Depreciation | |||||||||||||
Investment | Investment | |||||||||||||||
Bistineau storage | $ | 55.8 | $ | 15.1 | $ | 55.7 | $ | 13.4 | ||||||||
Mobile Bay Pipeline | 11.1 | 3.1 | 11.1 | 2.8 | ||||||||||||
NGL pipelines and facilities | 34.8 | 1.3 | 34.8 | 0.2 | ||||||||||||
Offshore and other assets | 19 | 13.4 | 19 | 13 | ||||||||||||
Total | $ | 120.7 | $ | 32.9 | $ | 120.6 | $ | 29.4 | ||||||||
Certain amounts shown in the tables above for 2012 have been corrected to conform to the 2013 presentation. General, Rights of way and other and Total utility depreciable plant were previously reported as $144.4 million, $121.6 million and $8,057.6 million, with weighted average useful lives of 14, 32 and 36 years. Non-depreciable other and total non-depreciable assets were reported as $1.0 million and $365.7 million. As of December 31, 2012, the gross PPE investment and related accumulated depreciation for the NGL pipelines and facilities were previously excluded from the table. | ||||||||||||||||
Asset Dispositions and Impairment Charges | ||||||||||||||||
The Partnership recognized $4.1 million, $9.1 million and $30.5 million of asset impairment charges for the years ended December 31, 2013, 2012 and 2011. Refer to Note 6 for more information or to Materials and Supplies below for further discussion of the 2011 asset impairment charge. | ||||||||||||||||
Gas Sales | ||||||||||||||||
For the year ended December 31, 2013, the Partnership recognized a gain of $29.9 million from the sale of approximately 14.9 Bcf of natural gas stored underground with a carrying amount of $26.0 million. The gas was sold as a result of a strategy to monetize storage base gas and provide capacity for additional parks of customer gas under PAL service as well as a result of a change in the storage gas needed to support operations and no-notice services. | ||||||||||||||||
In 2011, the Partnership recognized a gain of $9.2 million from the sale of approximately 4.5 Bcf of gas stored underground with a carrying amount of $10.3 million that became available for sale due to a change in the storage working gas needed to support operations and no-notice services. | ||||||||||||||||
The gains related to these gas sales were recorded in Net gain on disposal of operating assets. | ||||||||||||||||
Carthage Compressor Station Incident | ||||||||||||||||
In 2011, a fire occurred at one of the Partnership’s compressor stations near Carthage, Texas, which caused significant damage to the compressor building, the compressor units and related equipment housed in the building. In 2011, the Partnership recognized expenses of $5.0 million for the amounts of costs incurred which were subject to an insurance deductible and recorded a receivable of $8.8 million related to probable recoveries from insurance for expenses incurred that exceeded the deductible amount. The Partnership received a total of $11.7 million in insurance proceeds, of which $1.7 million and $1.2 million were recorded as a reduction in Operation and maintenance expense for the years ended December 31, 2013 and 2012. | ||||||||||||||||
Materials and Supplies | ||||||||||||||||
The Partnership holds materials and supplies comprised of pipe, valves, fittings and other materials to support its ongoing operations and for potential future growth projects. In 2011, the Partnership determined that a portion of the materials and supplies would not be used given the types of projects the Partnership would likely pursue under its growth strategy and the costs to carry and maintain the materials and recognized an impairment charge of $28.8 million to adjust the carrying amount of those materials and supplies to an estimated fair value of $6.4 million. The fair value of the materials was determined by obtaining information from brokers, resellers and distributors of these types of materials which are considered Level 3 inputs under the fair value hierarchy. The materials were subsequently sold, resulting in net realized gains of $0.5 million and $3.7 million and $2.9 million for the years ended December 31, 2013, 2012 and 2011. At December 31, 2013 and 2012, the Partnership held approximately $12.8 million and $17.8 million of materials and supplies which was reflected in Other Assets on the Consolidated Balance Sheets. | ||||||||||||||||
Bistineau Storage Gas Loss | ||||||||||||||||
In 2011, the Partnership completed a series of tests to verify the quantity of gas stored at its Bistineau storage facility. These tests indicated that a gas loss of approximately 6.7 Bcf occurred at the facility. As a result, the Partnership recorded a charge to Fuel and gas transportation expense of $3.7 million to recognize the loss in base gas which had a carrying amount of $0.53 per MMBtu. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Disclosure Text Block [Abstract] | ' | ||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||
Note 8: Goodwill and Intangible Assets | |||||||
Goodwill | |||||||
The Partnership performed its annual goodwill impairment test for its three reporting units as of November 30, 2013. The results of the quantitative goodwill impairment test indicated that the fair value of two of the Partnership’s reporting units significantly exceeded their carrying amounts and no goodwill impairment charges were recognized for those reporting units. The carrying amount of the third reporting unit, which included goodwill associated with the Petal acquisition, exceeded the estimated fair value and the second step of the goodwill impairment test was performed. In the fourth quarter 2013, the Partnership recognized a goodwill impairment charge of $51.5 million, representing the carrying amount of the goodwill for that reporting unit. The fair value of the reporting unit declined from the amount determined in 2012 due primarily to recent narrowing of time period price spreads and reduced volatility which negatively affects the value of the Partnership’s storage and PAL services and the cumulative effect of reduced basis spreads on the value of the Partnership’s transportation services. No impairment charge related to goodwill was recorded for any of the Partnership’s reporting units during 2012 or 2011. | |||||||
Changes in the gross amounts of goodwill for the Partnership are summarized as follows (in millions): | |||||||
Balance as of January 1, 2012 | $ | 215 | |||||
Acquisition of Louisiana Midstream(1) | 52 | ||||||
Balance as of December 31, 2012 | $ | 267 | |||||
Goodwill impairment charge | (51.5 | ) | |||||
Balance as of December 31, 2013 | $ | 215.5 | |||||
(1) Refer to Note 4 for further information on the acquisition of Louisiana Midstream. | |||||||
Intangible Assets | |||||||
The following table contains information regarding the Partnership's intangible assets, which includes customer relationships acquired as part of the purchase of Louisiana Midstream and Petal (in millions): | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Gross carrying amount | $ | 39.4 | $ | 39.4 | |||
Accumulated amortization | (2.1 | ) | (0.8 | ) | |||
Net carrying amount | $ | 37.3 | $ | 38.6 | |||
For the year ended December 31, 2013 and 2012, amortization expense for intangible assets totaled $1.3 million and $0.8 million and was recorded in Depreciation and amortization on the Consolidated Statements of Income. Amortization expense for the year ended December 31, 2011, was less than $0.1 million. Amortization expense for the next five years and in total thereafter as of December 31, 2013, is expected to be as follows (in millions): | |||||||
2014 | $ | 1.3 | |||||
2015 | 1.3 | ||||||
2016 | 1.3 | ||||||
2017 | 1.3 | ||||||
2018 | 1.3 | ||||||
Thereafter | 30.8 | ||||||
$ | 37.3 | ||||||
The weighted-average remaining useful life of the Partnership's intangible assets as of December 31, 2013 is 30 years. |
Asset_Retirement_Obligations_A
Asset Retirement Obligations (ARO) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Asset Retirement Obligations (ARO) | ' | |||||||
Note 9: Asset Retirement Obligations (ARO) | ||||||||
The Partnership has identified and recorded legal obligations associated with the abandonment of certain pipeline and storage assets, brine ponds, offshore facilities and the abatement of asbestos consisting of removal, transportation and disposal when removed from certain compressor stations and meter station buildings. Legal obligations exist for the main pipeline and certain other Partnership assets; however, the fair value of the obligations cannot be determined because the lives of the assets are indefinite and therefore cash flows associated with retirement of the assets cannot be estimated with the degree of accuracy necessary to establish a liability for the obligations. | ||||||||
The following table summarizes the aggregate carrying amount of the Partnership’s ARO (in millions): | ||||||||
2013 | 2012 | |||||||
Balance at beginning of year | $ | 39 | $ | 20 | ||||
Liabilities recorded | 8 | 4.9 | ||||||
Liabilities settled | (1.7 | ) | (0.6 | ) | ||||
Liabilities incurred from assets acquired (1) | — | 13.6 | ||||||
Accretion expense | 1.8 | 1.1 | ||||||
Balance at end of year | 47.1 | 39 | ||||||
Less: Current portion of asset retirement obligations | (7.8 | ) | (5.8 | ) | ||||
Long-term asset retirement obligations | $ | 39.3 | $ | 33.2 | ||||
1) | Represents the fair value of the asset retirement obligations assumed through the acquisition of Louisiana Midstream. | |||||||
For the Partnership’s operations where regulatory accounting is applicable, depreciation rates for PPE are comprised of two components. One component is based on economic service life (capital recovery) and the other is based on estimated costs of removal (as a component of negative salvage) which is collected in rates and does not represent an existing legal obligation. The Partnership has reflected $57.6 million and $57.4 million as of December 31, 2013 and 2012, in the accompanying Consolidated Balance Sheets as Provision for other asset retirement related to the estimated cost of removal collected in rates. |
Regulatory_Assets_and_Liabilit
Regulatory Assets and Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ' | |||||||
Regulatory Assets and Liabilities | ' | |||||||
Note 10: Regulatory Assets and Liabilities | ||||||||
The amounts recorded as regulatory assets and liabilities in the Consolidated Balance Sheets as of December 31, 2013 and 2012, are summarized in the table below. The table also includes amounts related to unamortized debt expense and unamortized discount on long-term debt. While these amounts are not regulatory assets and liabilities, they are a critical component of the embedded cost of debt financing utilized in the Texas Gas rate proceedings. The tax effect of the equity component of AFUDC represents amounts recoverable from rate payers for the tax recorded in regulatory accounting. Certain amounts in the table are reflected as a negative, or a reduction, to be consistent with the regulatory books of account. The period of recovery for the regulatory assets included in rates varies from one to eighteen years. The remaining period of recovery for regulatory assets not yet included in rates would be determined in future rate proceedings. None of the regulatory assets shown below were earning a return as of December 31, 2013 and 2012 (in millions): | ||||||||
2013 | 2012 | |||||||
Regulatory Assets: | ||||||||
Pension | $ | 10.6 | $ | 10.6 | ||||
Tax effect of AFUDC equity | 3.9 | 4.3 | ||||||
Unamortized debt expense and premium on reacquired debt | 11.5 | 13.5 | ||||||
Fuel tracker | 0.8 | 3.3 | ||||||
Total regulatory assets | $ | 26.8 | $ | 31.7 | ||||
Regulatory Liabilities: | ||||||||
Cashout and fuel tracker | $ | 1.1 | $ | 0.9 | ||||
Provision for other asset retirement | 57.6 | 57.4 | ||||||
Unamortized discount on long-term debt | (1.8 | ) | (2.2 | ) | ||||
Postretirement benefits other than pension | 32.7 | 29.3 | ||||||
Other | — | 0.1 | ||||||
Total regulatory liabilities | $ | 89.6 | $ | 85.5 | ||||
Financing
Financing | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||
Financing | ' | |||||||||||||||||||||
Note 11: Financing | ||||||||||||||||||||||
Long-Term Debt | ||||||||||||||||||||||
The following table presents all long-term debt issues outstanding as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Notes and Debentures: | ||||||||||||||||||||||
Boardwalk Pipelines | ||||||||||||||||||||||
5.88% Notes due 2016 | $ | 250 | $ | 250 | ||||||||||||||||||
5.50% Notes due 2017 | 300 | 300 | ||||||||||||||||||||
5.20% Notes due 2018 | 185 | 185 | ||||||||||||||||||||
5.75% Notes due 2019 | 350 | 350 | ||||||||||||||||||||
3.375% Notes due 2023 | 300 | 300 | ||||||||||||||||||||
Gulf South | ||||||||||||||||||||||
5.05% Notes due 2015 | 275 | 275 | ||||||||||||||||||||
6.30% Notes due 2017 | 275 | 275 | ||||||||||||||||||||
4.00% Notes due 2022 | 300 | 300 | ||||||||||||||||||||
Texas Gas | ||||||||||||||||||||||
4.60% Notes due 2015 | 250 | 250 | ||||||||||||||||||||
4.50% Notes due 2021 | 440 | 440 | ||||||||||||||||||||
7.25% Debentures due 2027 | 100 | 100 | ||||||||||||||||||||
Total notes and debentures | 3,025.00 | 3,025.00 | ||||||||||||||||||||
Term Loan: | 225 | 225 | ||||||||||||||||||||
Revolving Credit Facility: | ||||||||||||||||||||||
Boardwalk Pipelines | — | — | ||||||||||||||||||||
Gulf Crossing | 175 | 302 | ||||||||||||||||||||
Gulf South | — | — | ||||||||||||||||||||
Texas Gas | — | — | ||||||||||||||||||||
Total revolving credit facility | 175 | 302 | ||||||||||||||||||||
Capital lease: | 10 | — | ||||||||||||||||||||
3,435.00 | 3,552.00 | |||||||||||||||||||||
Less: unamortized debt discount | (10.6 | ) | (12.8 | ) | ||||||||||||||||||
Total Long-Term Debt and Capital Lease Obligation | $ | 3,424.40 | $ | 3,539.20 | ||||||||||||||||||
Maturities of the Partnership’s long-term debt for the next five years and in total thereafter are as follows (in millions): | ||||||||||||||||||||||
2014 | $ | — | ||||||||||||||||||||
2015 | 525 | |||||||||||||||||||||
2016 | 250 | |||||||||||||||||||||
2017 | 975 | |||||||||||||||||||||
2018 | 185 | |||||||||||||||||||||
Thereafter | 1,490.00 | |||||||||||||||||||||
Total long-term debt | $ | 3,425.00 | ||||||||||||||||||||
Notes and Debentures | ||||||||||||||||||||||
As of December 31, 2013 and 2012, the weighted-average interest rate of the Partnership's notes and debentures was 5.32%. For the years ended December 31, 2013, 2012 and 2011, the Partnership completed the following debt issuances (in millions, except interest rates): | ||||||||||||||||||||||
Date of | Issuing Subsidiary | Amount of | Purchaser | Net | Interest | Maturity Date | Interest Payable | |||||||||||||||
Issuance | Issuance | Discounts | Proceeds | Rate | ||||||||||||||||||
and | ||||||||||||||||||||||
Expenses | ||||||||||||||||||||||
Nov-12 | Boardwalk Pipelines | $ | 300 | $ | 2.4 | $ | 297.6 | (1) | 3.375 | % | February 1, 2023 | February 1 and August 1 | ||||||||||
Jun-12 | Gulf South | $ | 300 | $ | 3.5 | $ | 296.5 | (2) | 4 | % | June 15, 2022 | June 15 and December 15 | ||||||||||
January and | ||||||||||||||||||||||
Jun-11 | Texas Gas | $ | 440 | $ | 2.4 | $ | 437.6 | (3) | 4.5 | % | February 1, 2021 | February 1 and August 1 | ||||||||||
-1 | The net proceeds of this offering were used to reduce borrowings under the Partnership’s revolving credit facility and Subordinated Loan. | |||||||||||||||||||||
-2 | The net proceeds of this offering were used to reduce borrowings under the Partnership’s revolving credit facility and to redeem $225.0 million of Gulf South's 5.75% notes due August 2012 (2012 Notes) discussed below. | |||||||||||||||||||||
-3 | The net proceeds of these offerings were used to reduce borrowings under the Partnership’s revolving credit facility and to redeem $250.0 million of Texas Gas’ 5.50% notes due April 2013 (2013 Notes) discussed below. | |||||||||||||||||||||
The Partnership’s notes and debentures are redeemable, in whole or in part, at the Partnership’s option at any time, at a redemption price equal to the greater of 100% of the principal amount of the notes to be redeemed or a “make whole” redemption price based on the remaining scheduled payments of principal and interest discounted to the date of redemption at a rate equal to the Treasury rate plus 20 to 50 basis points depending upon the particular issue of notes, plus accrued and unpaid interest, if any. Other customary covenants apply, including those concerning events of default. | ||||||||||||||||||||||
The indentures governing the notes and debentures have restrictive covenants which provide that, with certain exceptions, neither the Partnership nor any of its subsidiaries may create, assume or suffer to exist any lien upon any property to secure any indebtedness unless the debentures and notes shall be equally and ratably secured. All of the Partnership's debt obligations are unsecured. At December 31, 2013, Boardwalk Pipelines and its operating subsidiaries were in compliance with their debt covenants. | ||||||||||||||||||||||
Redemption of Notes | ||||||||||||||||||||||
In August 2012, the 2012 Notes matured and were retired in full. The retirement of this debt was financed through the issuance of the 4.00% Gulf South notes due 2022. | ||||||||||||||||||||||
In 2011, the Partnership redeemed the 2013 Notes at a premium of $21.0 million. The Partnership had unamortized discounts and deferred offering costs of $1.1 million related to the 2013 Notes. Due to the application of regulatory accounting, approximately $8.9 million of the premium and unamortized discounts related to the 2013 Notes were recognized as a regulatory asset, and will be amortized over the life of the Texas Gas 4.50% notes due 2021. The remaining $13.2 million was recognized as a loss on early extinguishment of debt. | ||||||||||||||||||||||
Revolving Credit Facility | ||||||||||||||||||||||
The Partnership has a revolving credit facility which has aggregate lending commitments of $1.0 billion. Outstanding borrowings under the credit facility as of December 31, 2013, and 2012, were $175.0 million and $302.0 million with a weighted-average borrowing rate of 1.29% and 1.34%. As of February 21, 2014, the Partnership had outstanding borrowings of $250.0 million, resulting in available borrowing capacity of $750.0 million. | ||||||||||||||||||||||
In April 2012, the Partnership entered into a Second Amended and Restated Revolving Credit Agreement (Amended Credit Agreement) with Wells Fargo Bank, N.A., as Administrative Agent, having aggregate lending commitments of $1.0 billion, a maturity date of April 27, 2017, and including Gulf Crossing, Gulf South, Texas Gas, Boardwalk Pipelines and Boardwalk Midstream, LLC, as borrowers. Interest is determined, at the Partnership's election, by reference to (a) the base rate which is the highest of (1) the prime rate, (2) the federal funds rate plus 0.50%, and (3) the one month Eurodollar Rate plus 1.0%, plus an applicable margin, or (b) the LIBOR plus an applicable margin. The applicable margin ranges from 0.00% to 0.875% for loans bearing interest tied to the base rate and ranges from 1.00% to 1.875% for loans bearing interest based on the LIBOR rate, in each case determined based on the individual borrower's credit rating from time to time. The Amended Credit Agreement also provides for a quarterly commitment fee charged on the average daily unused amount of the revolving credit facility ranging from 0.125% to 0.30% and determined based on the individual borrower's credit rating from time to time. | ||||||||||||||||||||||
The credit facility contains various restrictive covenants and other usual and customary terms and conditions, including restrictions regarding the incurrence of additional debt, the sale of assets and sale-leaseback transactions. The financial covenants under the credit facility require the Partnership and its subsidiaries to maintain, among other things, a ratio of total consolidated debt to consolidated EBITDA (as defined in the credit agreement) measured for the previous twelve months of not more than 5.0 to 1.0, or up to 5.5 to 1.0 for the three quarters following an acquisition. The Partnership and its subsidiaries were in compliance with all covenant requirements under the credit facility as of December 31, 2013. | ||||||||||||||||||||||
Term Loan | ||||||||||||||||||||||
The Partnership has a $225.0 million variable-rate term loan due October 1, 2017 (2017 Term Loan), which was used to fund the Louisiana Midstream acquisition. The 2017 Term Loan bears interest at a rate that is based on the one-month LIBOR plus an applicable margin. Outstanding borrowings as of December 31, 2013 and 2012, were $225.0 million, with a weighted-average borrowing interest rate of 1.92% and 1.96%. | ||||||||||||||||||||||
The Partnership's Petal subsidiary had a $200.0 million variable-rate term loan due December 1, 2016 (Petal Term Loan) that was repaid in full in September 2012. Interest on the Petal Term Loan was payable monthly at a rate that was based on the one-month LIBOR rate plus an applicable margin. There is no further borrowing capacity under this term loan. | ||||||||||||||||||||||
Long-Term Debt – Affiliate | ||||||||||||||||||||||
At December 31, 2011, the Partnership had $100.0 million of long-term debt outstanding under a Subordinated Loan Agreement with BPHC (Subordinated Loan), with no additional borrowing capacity available. The Subordinated Loan bore interest at 8.00% per year, payable semi-annually in June and December. In the event the Partnership or its subsidiaries issued additional equity securities or incurred certain indebtedness, the Subordinated Loan was required to be repaid with the net cash proceeds from those issuances; although BPHC was entitled to waive such prepayment provision. In November 2012, the Partnership repaid the $100.0 million of Subordinated Loan outstanding and has no further borrowing capacity available. The retirement of this debt was financed using proceeds from the Partnership's November debt offering. | ||||||||||||||||||||||
Common Unit Offering | ||||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Partnership completed the following issuances and sales of common units (in millions, except the issuance price): | ||||||||||||||||||||||
Month of Offering | Number of | Issuance | Less Underwriting Discounts and Expenses | Net Proceeds | Common Units Outstanding | Common Units Held by the Public | ||||||||||||||||
Common Units | Price | (including General Partner Contribution) | After Offering | After Offering | ||||||||||||||||||
May-13 | 12.7 | $30.12 | $12.30 | $376.50 | 220.3 | 117.6 | ||||||||||||||||
October 2012 (1) | 11.2 | $26.99 | $10.40 | $297.60 | 207.7 | 105 | ||||||||||||||||
August 2012 (1) | 11.6 | $27.80 | $11.20 | $317.90 | 196.5 | 93.8 | ||||||||||||||||
February 2012 (1) | 9.2 | $27.55 | $8.50 | $250.20 | 184.9 | 82.2 | ||||||||||||||||
June 1, 2011 (1) | 6 | $29.33 | $6.00 | $173.60 | 175.7 | 73 | ||||||||||||||||
-1 | BPHC waived the prepayment provisions under the Subordinated Loans that would have required prepayment of the Subordinated Loans as a result of these issuances. | |||||||||||||||||||||
The proceeds of the May 2013, August 2012 and June 2011, offerings were used to reduce borrowings under the Partnership’s revolving credit facility; the proceeds of the February 2012 offering were used to purchase the remaining equity interests in Petal; and the proceeds of the October 2012 offering were used to purchase the remaining equity interests in Louisiana Midstream. In addition to funds received from the issuance and sale of common units, the general partner concurrently contributed amounts to maintain its 2% interest in the Partnership. | ||||||||||||||||||||||
Summary of Changes in Outstanding Units | ||||||||||||||||||||||
The following table summarizes changes in the Partnership’s common and class B units since January 1, 2011 (in millions): | ||||||||||||||||||||||
Common | Class B | |||||||||||||||||||||
Units | Units(1) | |||||||||||||||||||||
Balance, January 1, 2011 | 169.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 6 | — | ||||||||||||||||||||
Balance, December 31, 2011 | 175.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 32 | — | ||||||||||||||||||||
Balance, December 31, 2012 | 207.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 12.7 | — | ||||||||||||||||||||
Conversion of class B units | 22.9 | (22.9 | ) | |||||||||||||||||||
Balance, December 31, 2013 | 243.3 | — | ||||||||||||||||||||
-1 | On October 9, 2013, all of the 22.9 million class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. | |||||||||||||||||||||
Registration Rights Agreement | ||||||||||||||||||||||
The Partnership has entered into an Amended and Restated Registration Rights Agreement with BPHC under which the Partnership has agreed to register the resale by BPHC of 27.9 million common units and to reimburse BPHC up to a maximum amount of $0.914 per common unit for underwriting discounts and commissions. As of December 31, 2013 and 2012, the Partnership had an accrued liability of approximately $16.0 million for future underwriting discounts and commissions that would be reimbursed to BPHC and other registration and offering costs that are expected to be incurred by the Partnership. |
Employee_Benefits
Employee Benefits | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Employee Benefits | ' | ||||||||||||||||||||||||||
Note 12: Employee Benefits | |||||||||||||||||||||||||||
Retirement Plans | |||||||||||||||||||||||||||
Defined Benefit Retirement Plans | |||||||||||||||||||||||||||
Texas Gas employees hired prior to November 1, 2006, are covered under a non-contributory, defined benefit pension plan (Pension Plan). The Texas Gas Supplemental Retirement Plan (SRP) provides pension benefits for the portion of an eligible employee’s pension benefit under the Pension Plan that becomes subject to compensation limitations under the Internal Revenue Code. Collectively, the Partnership refers to the Pension Plan and the SRP as Retirement Plans. The Partnership uses a measurement date of December 31 for its Retirement Plans. | |||||||||||||||||||||||||||
As a result of the Texas Gas rate case settlement in 2006, the Partnership is required to fund the amount of annual net periodic pension cost associated with the Pension Plan, including a minimum of $3.0 million which is the amount included in rates. In 2013 and 2012, the Partnership funded $3.0 million and $7.5 million to the Pension Plan and expects to fund approximately $3.0 million to the plan in 2014. The Partnership does not anticipate that any Pension Plan assets will be returned to the Partnership during 2014. In 2013 and 2012, there were no payments made under the SRP. The Partnership does not expect to fund the SRP until such time as benefits are paid. | |||||||||||||||||||||||||||
The Partnership recognizes in expense each year the actuarially determined amount of net periodic pension cost associated with its Retirement Plans, including a minimum amount of $3.0 million related to its Pension Plan, in accordance with the 2006 rate case settlement. Texas Gas is permitted to seek future rate recovery for amounts of annual Pension Plan costs in excess of $6.0 million and is precluded from seeking future recovery of annual Pension Plan costs between $3.0 million and $6.0 million. As a result, the Partnership would recognize a regulatory asset for amounts of annual Pension Plan costs in excess of $6.0 million and would reduce its regulatory asset to the extent that annual Pension Plan costs are less than $3.0 million. Annual Pension Plan costs between $3.0 million and $6.0 million will be charged to expense. | |||||||||||||||||||||||||||
Postretirement Benefits Other Than Pension (PBOP) | |||||||||||||||||||||||||||
Texas Gas provides postretirement medical benefits and life insurance to retired employees who were employed full time, hired prior to January 1, 1996, and have met certain other requirements. In 2013 and 2012, the Partnership made $0.1 million and $0.2 million of contributions to the PBOP plan. The PBOP plan is currently in an overfunded status, therefore the Partnership does not expect to make any contributions to the plan in 2014. The Partnership does not anticipate that any plan assets will be returned to the Partnership during 2014. The Partnership uses a measurement date of December 31 for its PBOP plan. | |||||||||||||||||||||||||||
Projected Benefit Obligation, Fair Value of Assets and Funded Status | |||||||||||||||||||||||||||
The projected benefit obligation, fair value of assets, funded status and the amounts not yet recognized as components of net periodic pension and postretirement benefits cost for the Retirement Plans and PBOP at December 31, 2013 and 2012, were as follows (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||
Benefit obligation at beginning of period | $ | 152.5 | $ | 140.2 | $ | 59.5 | $ | 54 | |||||||||||||||||||
Service cost | 3.9 | 4 | 0.5 | 0.5 | |||||||||||||||||||||||
Interest cost | 5 | 5.8 | 2.1 | 2.4 | |||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.8 | 0.8 | |||||||||||||||||||||||
Actuarial loss (gain) | (1.2 | ) | 9.4 | (8.3 | ) | 5.2 | |||||||||||||||||||||
Benefits paid | (0.4 | ) | (6.9 | ) | (4.6 | ) | (3.4 | ) | |||||||||||||||||||
Settlement charge | (11.3 | ) | — | — | — | ||||||||||||||||||||||
Benefit obligation at end of period | $ | 148.5 | $ | 152.5 | $ | 50 | $ | 59.5 | |||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||
Fair value of plan assets at beginning of period | $ | 125.7 | $ | 112.9 | $ | 86.7 | $ | 81.8 | |||||||||||||||||||
Actual return on plan assets | 14.4 | 12.2 | (2.2 | ) | 7.3 | ||||||||||||||||||||||
Benefits paid | (0.4 | ) | (6.9 | ) | (4.6 | ) | (3.4 | ) | |||||||||||||||||||
Settlement | (11.3 | ) | — | — | — | ||||||||||||||||||||||
Company contributions | 3 | 7.5 | 0.1 | 0.2 | |||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.8 | 0.8 | |||||||||||||||||||||||
Fair value of plan assets at end of period | $ | 131.4 | $ | 125.7 | $ | 80.8 | $ | 86.7 | |||||||||||||||||||
Funded status | $ | (17.1 | ) | $ | (26.8 | ) | $ | 30.8 | $ | 27.2 | |||||||||||||||||
Items not recognized as components of net periodic cost: | |||||||||||||||||||||||||||
Prior service cost (credit) | $ | — | $ | 0.1 | $ | (16.4 | ) | $ | (24.2 | ) | |||||||||||||||||
Net actuarial loss | 24.4 | 34.7 | 10.6 | 12.2 | |||||||||||||||||||||||
Total | $ | 24.4 | $ | 34.8 | $ | (5.8 | ) | $ | (12.0 | ) | |||||||||||||||||
At December 31, 2013 and 2012, the following aggregate information relates only to the underfunded plans (in millions): | |||||||||||||||||||||||||||
Retirement Plans | |||||||||||||||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 148.5 | $ | 152.5 | |||||||||||||||||||||||
Accumulated benefit obligation | 138.4 | 139.3 | |||||||||||||||||||||||||
Fair value of plan assets | 131.4 | 125.7 | |||||||||||||||||||||||||
Components of Net Periodic Benefit Cost | |||||||||||||||||||||||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the years ended December 31, 2013, 2012 and 2011 were as follows (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Service cost | $ | 3.9 | $ | 4 | $ | 3.9 | $ | 0.5 | $ | 0.5 | $ | 0.4 | |||||||||||||||
Interest cost | 5 | 5.8 | 6.4 | 2.1 | 2.4 | 2.6 | |||||||||||||||||||||
Expected return on plan assets | (9.1 | ) | (8.6 | ) | (8.0 | ) | (4.5 | ) | (4.3 | ) | (3.3 | ) | |||||||||||||||
Amortization of prior service credit | — | — | — | (7.8 | ) | (7.8 | ) | (7.8 | ) | ||||||||||||||||||
Amortization of unrecognized net loss | 2.1 | 2.1 | 1.2 | — | 0.1 | 0.7 | |||||||||||||||||||||
Settlement charge | 1.7 | — | — | — | — | — | |||||||||||||||||||||
Regulatory asset decrease | — | — | — | — | — | 4.2 | |||||||||||||||||||||
Net periodic benefit cost | $ | 3.6 | $ | 3.3 | $ | 3.5 | $ | (9.7 | ) | $ | (9.1 | ) | $ | (3.2 | ) | ||||||||||||
Due to the Texas Gas rate case settlement in 2006, Texas Gas is permitted to seek future rate recovery for amounts of annual Pension Plan costs in excess of $6.0 million. | |||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||
The following table shows benefit payments, which reflect expected future service, as appropriate, which are expected to be paid for both the Retirement Plans and PBOP (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
2014 | $ | 13.1 | $ | 3.2 | |||||||||||||||||||||||
2015 | 10.4 | 3.2 | |||||||||||||||||||||||||
2016 | 15.8 | 3.2 | |||||||||||||||||||||||||
2017 | 16.2 | 3.2 | |||||||||||||||||||||||||
2018 | 15.2 | 3.3 | |||||||||||||||||||||||||
2019-2022 | 74.4 | 16.4 | |||||||||||||||||||||||||
Weighted –Average Assumptions | |||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations for the years ended December 31, 2013 and 2012, were as follows: | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Pension | SRP | Pension | SRP | ||||||||||||||||||||||||
Discount rate | 4 | % | 4.25 | % | 3.25 | % | 3.5 | % | 4.5 | % | 3.9 | % | |||||||||||||||
Expected return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 5.3 | % | 5.3 | % | |||||||||||||||
Rate of compensation increase | 3.5 | % | 3.5 | % | 3.5 | % | 3.5 | % | — | — | |||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost for the periods indicated were as follows: | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Pension | SRP | Pension | SRP | Pension | SRP | ||||||||||||||||||||||
Discount rate | 3.25%/4.10% (1) | 3.5 | % | 4.25 | % | 4.25 | % | 5 | % | 5 | % | 3.9 | % | 4.7 | % | 5.38 | % | ||||||||||
Expected return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 5.3 | % | 5.3 | % | 4.64 | % | |||||||||
Rate of compensation increase | 3.5 | % | 3.5 | % | 4 | % | 4 | % | 4 | % | 4 | % | — | — | — | ||||||||||||
(1) Pension expense was remeasured at September 30, 2013, to reflect a settlement. | |||||||||||||||||||||||||||
The long-term rate of return for plan assets was determined based on widely-accepted capital market principles, long-term return analysis for global fixed income and equity markets as well as the active total return oriented portfolio management style. Long-term trends are evaluated relative to market factors such as inflation, interest rates and fiscal and monetary policies, in order to assess the capital market assumptions as applied to the plan. Consideration of diversification needs and rebalancing is maintained. | |||||||||||||||||||||||||||
PBOP Assumed Health Care Cost Trends | |||||||||||||||||||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for PBOP. A one-percentage-point change in assumed trend rates for health care costs would have had the following effects on amounts reported for the year ended December 31, 2013 (in millions): | |||||||||||||||||||||||||||
Effect of 1% Increase: | 2013 | ||||||||||||||||||||||||||
Benefit obligation at end of year | $ | 1.9 | |||||||||||||||||||||||||
Total of service and interest costs for year | 0.1 | ||||||||||||||||||||||||||
Effect of 1% Decrease: | |||||||||||||||||||||||||||
Benefit obligation at end of year | $ | (1.6 | ) | ||||||||||||||||||||||||
Total of service and interest costs for year | (0.1 | ) | |||||||||||||||||||||||||
For measurement purposes, for December 31, 2013, health care cost trend rates for the plans were assumed to remain at 8.5% for 2014-2015, grading down to 5.0% by 2022, assuming 0.5% annual increments for all participants. For December 31, 2012, health care cost trend rates for the plans were assumed to increase 8.5% for 2013-2014, grading down to 5.0% in 0.5% annual increments for all participants. | |||||||||||||||||||||||||||
Pension Plan and PBOP Asset Allocation and Investment Strategy | |||||||||||||||||||||||||||
Pension Plan | |||||||||||||||||||||||||||
The Pension Plan investments are held in a trust account and consist of an undivided interest in an investment account of the Loews Corporation Employees Retirement Trust (Master Trust), established by Loews and its participating subsidiaries. Use of the Master Trust permits the commingling of trust assets of the Pension Plan with the assets of the Loews Corporation Cash Balance Retirement Plan for investment and administrative purposes. Although assets of all plans are commingled in the Master Trust, the custodian maintains supporting records for the purpose of allocating the net gain or loss of the investment account to the participating plans. The net investment income of the investment assets is allocated by the custodian to each participating plan based on the relationship of the interest of each plan to the total of the interests of the participating plans. The Master Trust assets are measured at fair value. The fair value of the interest in the assets of the Master Trust associated with the Pension Plan as of December 31, 2013 and 2012, was $131.4 million (or 51.0%) and $125.7 million (or 50.9%), of the total Master Trust assets. | |||||||||||||||||||||||||||
Equity securities are publicly traded securities which are valued using quoted market prices and are considered a Level 1 investment under the fair value hierarchy. Short-term investments that are actively traded or have quoted prices, such as money market funds, are considered a Level 1 investment. Fixed income mutual funds are actively traded and valued using quoted market prices and are considered a Level 1 investment. Corporate and other taxable bonds and asset-backed securities are valued using pricing for similar securities, recently executed transactions, cash flow models with yield curves, broker/dealer quotes and other pricing models utilizing observable inputs and are considered Level 2 investments. The limited partnership and other invested assets consist primarily of hedge funds, whose fair value represents the Master Trust’s share of the net asset value of each company, as determined by the general partner. Level 2 limited partnership and other invested assets include investments which can be redeemed at net asset value in 90 days or less. The limited partnership investments that contain withdrawal provisions greater than 90 days or at the termination of the partnership are considered Level 3 investments. | |||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the Master Trust’s investments measured at fair value on a recurring basis at December 31, 2013 (in millions): | |||||||||||||||||||||||||||
Master Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Equity securities | $ | 44.6 | $ | — | $ | — | $ | 44.6 | |||||||||||||||||||
Short-term investments | 4.4 | — | — | 4.4 | |||||||||||||||||||||||
Other assets | — | 3.4 | — | 3.4 | |||||||||||||||||||||||
Fixed income mutual funds | 100.1 | 0.3 | — | 100.4 | |||||||||||||||||||||||
Asset-backed securities | — | 5.8 | — | 5.8 | |||||||||||||||||||||||
Limited partnerships : | |||||||||||||||||||||||||||
Hedge funds | — | 57.5 | 29.7 | 87.2 | |||||||||||||||||||||||
Private equity | — | — | 11.7 | 11.7 | |||||||||||||||||||||||
Total investments | $ | 149.1 | $ | 67 | $ | 41.4 | $ | 257.5 | |||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the Master Trust’s investments measured at fair value on a recurring basis at December 31, 2012 (in millions): | |||||||||||||||||||||||||||
Master Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Equity securities | $ | 37.2 | $ | — | $ | — | $ | 37.2 | |||||||||||||||||||
Short-term investments | 4.2 | — | — | 4.2 | |||||||||||||||||||||||
Fixed income mutual funds | 110.3 | — | — | 110.3 | |||||||||||||||||||||||
Asset-backed securities | — | 3 | — | 3 | |||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||
Hedge funds | — | 53.3 | 32 | 85.3 | |||||||||||||||||||||||
Private equity | — | — | 7.1 | 7.1 | |||||||||||||||||||||||
Total investments | $ | 151.7 | $ | 56.3 | $ | 39.1 | $ | 247.1 | |||||||||||||||||||
The following table presents a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) for the Master Trust (in millions): | |||||||||||||||||||||||||||
Limited | Limited | ||||||||||||||||||||||||||
Partnerships: | Partnerships: | ||||||||||||||||||||||||||
Hedge Funds | Private Equity | ||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 25.5 | $ | 7.4 | |||||||||||||||||||||||
Actual return on assets still held | 3.8 | 0.5 | |||||||||||||||||||||||||
Actual return on assets sold | (0.1 | ) | 0.5 | ||||||||||||||||||||||||
Purchases, sales and settlements | 2.8 | (1.3 | ) | ||||||||||||||||||||||||
Net transfers in/(out) of Level 3 | — | — | |||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 32 | $ | 7.1 | |||||||||||||||||||||||
Actual return on assets still held | 6.2 | 2.1 | |||||||||||||||||||||||||
Actual return on assets sold | (0.3 | ) | (0.3 | ) | |||||||||||||||||||||||
Purchases, sales and settlements | (8.2 | ) | 2.8 | ||||||||||||||||||||||||
Net transfers in/(out) of Level 3 | — | — | |||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 29.7 | $ | 11.7 | |||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||||
The PBOP plan assets are held in a trust and are measured at fair value. Short-term investments that are actively traded or have quoted prices, such as money market or mutual funds, are considered a Level 1 investment. Fixed income mutual funds are actively traded and valued using quoted market prices and are considered Level 1 investments. Tax exempt securities, consisting of municipal securities, corporate and other taxable bonds and asset-backed securities are valued using pricing for similar securities, recently executed transactions, cash flow models with yield curves, broker/dealer quotes and other pricing models utilizing observable inputs and are considered Level 2 investments. | |||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the PBOP trust investments measured at fair value on a recurring basis at December 31, 2013 (in millions): | |||||||||||||||||||||||||||
PBOP Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Short-term investments | $ | 2.7 | $ | — | $ | — | $ | 2.7 | |||||||||||||||||||
Fixed income mutual funds | 2.8 | — | — | 2.8 | |||||||||||||||||||||||
Asset-backed securities | — | 19.8 | — | 19.8 | |||||||||||||||||||||||
Corporate and other bonds | — | 16.9 | — | 16.9 | |||||||||||||||||||||||
Tax exempt securities | — | 38.6 | — | 38.6 | |||||||||||||||||||||||
Total investments | $ | 5.5 | $ | 75.3 | $ | — | $ | 80.8 | |||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the PBOP trust investments measured at fair value on a recurring basis at December 31, 2012 (in millions): | |||||||||||||||||||||||||||
PBOP Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Short-term investments | $ | 3.3 | $ | — | $ | — | $ | 3.3 | |||||||||||||||||||
Fixed income mutual funds | 3.8 | — | — | 3.8 | |||||||||||||||||||||||
Asset-backed securities | — | 21 | — | 21 | |||||||||||||||||||||||
Corporate and other bonds | — | 20.7 | — | 20.7 | |||||||||||||||||||||||
Tax exempt securities | — | 37.9 | — | 37.9 | |||||||||||||||||||||||
Total investments | $ | 7.1 | $ | 79.6 | $ | — | $ | 86.7 | |||||||||||||||||||
There were no Level 3 assets at December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Investment strategy | |||||||||||||||||||||||||||
Pension Plan: The Partnership employs a total-return approach using a mix of equities and fixed income investments to maximize the long-term return on plan assets and generate cash flows adequate to meet plan requirements. The intent of this strategy is to minimize plan expenses by outperforming plan liabilities over the long run. Risk tolerance is established through careful consideration of the plan liabilities, plan funded status and corporate financial conditions. The investment strategy has been to allocate between 40% and 60% of the investment portfolio to equity and alternative investments, including limited partnerships, with consideration given to market conditions and target asset returns. The investment portfolio contains a diversified blend of fixed income, equity and short-term securities. Alternative investments, including limited partnerships, have been used to enhance risk adjusted long-term returns while improving portfolio diversification. At December 31, 2013, the pension trust had committed $5.8 million to future capital calls from various third party limited partnership investments in exchange for an ownership interest in the related partnerships. Investment risk is measured and monitored on an ongoing basis through annual liability measurements, periodic asset and liability studies and quarterly investment portfolio reviews. | |||||||||||||||||||||||||||
PBOP: The investment strategy for the PBOP assets is to reduce the volatility of plan investments while protecting the initial investment given the overfunded status of the plan. At December 31, 2013 and 2012, all of the PBOP investments were in fixed income securities. | |||||||||||||||||||||||||||
Defined Contribution Plans | |||||||||||||||||||||||||||
Texas Gas employees hired on or after November 1, 2006, and other employees of the Partnership are provided retirement benefits under a defined contribution money purchase plan. The Partnership also provides 401(k) plan benefits to their employees. Costs related to the Partnership’s defined contribution plans were $8.6 million, $8.0 million and $7.4 million for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||||
Long-Term Incentive Compensation Plans | |||||||||||||||||||||||||||
The Partnership grants to selected employees long-term compensation awards under the LTIP, the UAR and Cash Bonus Plan, and previously made grants under the Strategic Long-Term Incentive Plan (SLTIP). These awards are intended to align the interests of the employees with those of the Partnership’s unitholders, encourage superior performance, attract and retain employees who are essential for the Partnership’s growth and profitability and to encourage employees to devote their best efforts to advancing the Partnership’s business over both long and short-term time horizons. The Partnership also makes annual grants of common units to certain of its directors under the LTIP. | |||||||||||||||||||||||||||
LTIP | |||||||||||||||||||||||||||
The Partnership reserved 3,525,000 common units for grants of units, restricted units, unit options and unit appreciation rights to officers and directors of the Partnership’s general partner and for selected employees under the LTIP. The Partnership has outstanding phantom common units (Phantom Common Units) which were granted under the plan. Each such grant: includes a tandem grant of Distribution Equivalent Rights (DERs); vests on the third anniversary of the grant date; and will be payable to the grantee in cash, but may be settled in common units at the discretion of the Partnership’s Board of Directors, upon vesting in an amount equal to the sum of the fair market value of the units (as defined in the plan) that vest on the vesting date, less applicable taxes. The vested amount then credited to the grantee’s DER account is payable only in cash, less applicable taxes. The economic value of the Phantom Common Units is directly tied to the value of the Partnership’s common units, but these awards do not confer any rights of ownership to the grantee. The fair value of the awards will be recognized ratably over the vesting period and remeasured each quarter until settlement based on the market price of the Partnership’s common units and amounts credited under the DERs. The Partnership has not made any grants of units, restricted units, unit options or unit appreciation rights under the plan. | |||||||||||||||||||||||||||
A summary of the status of the Phantom Common Units granted under the Partnership’s LTIP as of December 31, 2013 and 2012, and changes during the years ended December 31, 2013 and 2012, is presented below: | |||||||||||||||||||||||||||
Phantom Common Units | Total Fair Value | Weighted-Average Vesting Period | |||||||||||||||||||||||||
(in millions) | (in years) | ||||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 218,089 | (2) | $ | 5.3 | 2.9 | ||||||||||||||||||||||
Granted | 22,814 | 0.6 | 2.4 | ||||||||||||||||||||||||
Paid | (24,270 | ) | (0.8 | ) | — | ||||||||||||||||||||||
Forfeited | (24,038 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 192,595 | 4.7 | 2 | ||||||||||||||||||||||||
Granted | 220,808 | 5.7 | 2.8 | ||||||||||||||||||||||||
Forfeited | (33,355 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2013 (1) | 380,048 | $ | 10.9 | 1.5 | |||||||||||||||||||||||
-1 | Represents fair value and remaining weighted-average vesting period of outstanding awards at the end of the period. | ||||||||||||||||||||||||||
-2 | Includes 24,270 of Phantom Common Units with a total value of $0.8 million which vested on December 16, 2011 and were paid in cash on January 20, 2012. | ||||||||||||||||||||||||||
The fair value of the awards at the date of grant was based on the closing market price of the Partnership’s common units on or directly preceding the date of grant. The fair value of the awards at December 31, 2013 and 2012 was based on the closing market price of the common unit on those dates of $25.52 and $24.90 plus the accumulated value of the DERs. The fair value of the awards will be recognized ratably over the vesting period and remeasured each quarter until settlement in accordance with the treatment of awards classified as liabilities. The Partnership recorded $3.2 million, $1.5 million and $0.3 million in Administrative and general expenses during 2013, 2012 and 2011 for the ratable recognition of the fair value of the Phantom Common Unit awards. The total estimated remaining unrecognized compensation expense related to the Phantom Common Units outstanding at December 31, 2013 and 2012, was $6.1 million and $3.1 million. | |||||||||||||||||||||||||||
In 2013 and 2012 the general partner purchased 7,484 and 2,000 of the Partnership’s common units in the open market at a price of $26.72 and $27.24 per unit. These units were granted under the LTIP to the independent directors as part of their director compensation. At December 31, 2013, 3,506,224 units were available for grants under the LTIP. | |||||||||||||||||||||||||||
UAR and Cash Bonus Plan | |||||||||||||||||||||||||||
The UAR and Cash Bonus Plan provides for grants of UARs and Long-Term Cash Bonuses to selected employees of the Partnership. As of December 31, 2013, there were no Long-Term Cash Bonuses outstanding. The Partnership recorded compensation expense of $0.5 million, $0.6 million and $0.5 million for the years ended December 31, 2013, 2012 and 2011 related to the Long-Term Cash Bonuses. | |||||||||||||||||||||||||||
The economic value of the UARs is tied to the value of the Partnership’s common units, but these awards do not confer any rights of ownership to the grantee. Under the terms of the UAR and Cash Bonus Plan, after the expiration of a restricted period (vesting period) each awarded UAR would become vested and payable in cash to the extent the fair market value (as defined in the plan) of a common unit on such date exceeds the exercise price. Each UAR includes a feature whereby the exercise price is reduced by the amount of any cash distributions made by the Partnership with respect to a common unit during the restricted period (DER Adjustment). Except in limited circumstances, upon termination of employment during the restricted period, any outstanding and unvested awards of UARs would be cancelled unpaid. The fair value of the UARs will be recognized ratably over the vesting period, and will be remeasured each quarter until settlement in accordance with the treatment of awards classified as liabilities. | |||||||||||||||||||||||||||
A summary of the outstanding UARs granted under the Partnership’s UAR and Cash Bonus Plan as of December 31, 2013 and 2012, and changes during 2013 and 2012 is presented below: | |||||||||||||||||||||||||||
UARs | Weighted- Average | Total Fair Value | Weighted-Average Vesting Period | ||||||||||||||||||||||||
Exercise Price | (in millions) | (in years) | |||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 656,517 | $ | 29.28 | $ | 3 | 2.3 | |||||||||||||||||||||
Forfeited | (83,638 | ) | |||||||||||||||||||||||||
Granted (2) | 6,786 | 26.46 | — | 2.7 | |||||||||||||||||||||||
Granted (3) | 26,082 | 27.9 | 0.1 | 2.2 | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 605,747 | 29.18 | 1.7 | 1.4 | |||||||||||||||||||||||
Paid | (359,148 | ) | |||||||||||||||||||||||||
Forfeited | (61,400 | ) | |||||||||||||||||||||||||
Granted (4) | 293,809 | 27.57 | 1.8 | 2.8 | |||||||||||||||||||||||
Outstanding at December 31, 2013 (1) | 479,008 | $ | 27.47 | $ | 1.9 | 1.5 | |||||||||||||||||||||
-1 | Represents weighted-average exercise price, remaining weighted-average vesting period and total fair value of outstanding awards at the end of the period. | ||||||||||||||||||||||||||
-2 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $26.46, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on March 31, 2012. | ||||||||||||||||||||||||||
-3 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.90, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on September 30, 2012. | ||||||||||||||||||||||||||
-4 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.57, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on February 7, 2013. | ||||||||||||||||||||||||||
The fair value of the UARs were based on the computed value of a call on the Partnership’s common units at the exercise price. The following assumptions were used as inputs to the Black-Scholes valuation model for grants made during 2013 and 2012: | |||||||||||||||||||||||||||
Grant Date Assumptions for Grants Made in 2013 | Grant Date Assumptions for Grants Made in 2012 | ||||||||||||||||||||||||||
Expected life (years) | 2.8 | 2.2 - 2.7 | |||||||||||||||||||||||||
Risk free interest rate (1) | 0.35% | 0.29% - 0.47% | |||||||||||||||||||||||||
Expected volatility (2) | 32% | 31% - 34% | |||||||||||||||||||||||||
-1 | Based on the U.S. Treasury yield curve corresponding to the remaining life of the UAR. | ||||||||||||||||||||||||||
-2 | Based on the historical volatility of the Partnership’s common units. | ||||||||||||||||||||||||||
The Partnership recorded compensation expense of $0.9 million, $0.3 million and $0.4 million for the years ended December 31, 2013, 2012 and 2011 related to the UARs. As of December 31, 2013 and 2012, there was $0.9 million and $0.8 million of total unrecognized compensation cost related to the non-vested portion of the UARs. | |||||||||||||||||||||||||||
SLTIP | |||||||||||||||||||||||||||
The SLTIP provided for the issuance of up to 500 phantom general partner units (Phantom GP Units) to selected employees of the Partnership and its subsidiaries. The Partnership recorded $0.2 million, $2.3 million and $2.5 million in Administrative and general expenses during 2013, 2012 and 2011 for the ratable recognition of the fair value of the GP Phantom Unit awards. There are no GP Phantom Units outstanding at December 31, 2013, and no additional grants of Phantom GP Units are expected to be made under the SLTIP. | |||||||||||||||||||||||||||
A summary of the status of the Partnership’s SLTIP as of December 31, 2013 and 2012, and changes during the years ended December 31, 2013 and 2012, is presented below: | |||||||||||||||||||||||||||
Phantom GP Units | Total Fair Value | Weighted-Average Vesting Period | |||||||||||||||||||||||||
(in millions) | (in years) | ||||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 262.5 | $ | 12.4 | 0.8 | |||||||||||||||||||||||
Paid | (116.5 | ) | (5.0 | ) | — | ||||||||||||||||||||||
Forfeited | (1.0 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 145 | 6.9 | 0.2 | ||||||||||||||||||||||||
Paid | (145.0 | ) | (7.2 | ) | — | ||||||||||||||||||||||
Outstanding at December 31, 2013 | — | $ | — | — | |||||||||||||||||||||||
-1 | Represents fair value and remaining weighted-average vesting period of outstanding awards at the end of the period. |
Cash_Distributions_and_Net_Inc
Cash Distributions and Net Income per Unit | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Partners' Capital Notes [Abstract] | ' | ||||||||||||||||
Cash Distributions and Net Income per Unit | ' | ||||||||||||||||
Note 13: Cash Distributions and Net Income per Unit | |||||||||||||||||
Cash Distributions | |||||||||||||||||
The Partnership’s cash distribution policy requires that the Partnership distribute to its various ownership interests on a quarterly basis all of its available cash, as defined in its partnership agreement. IDRs, which represent a limited partner ownership interest and are currently held by the Partnership’s general partner, represent the contractual right to receive an increasing percentage of quarterly distributions of available cash as follows: | |||||||||||||||||
Total Quarterly Distribution | Marginal Percentage | ||||||||||||||||
Interest in | |||||||||||||||||
Distributions | |||||||||||||||||
Target Amount | Limited Partner | General | |||||||||||||||
Unitholders (1) | Partner | ||||||||||||||||
and IDRs | |||||||||||||||||
First Target Distribution | up to $0.4025 | 98% | 2% | ||||||||||||||
Second Target Distribution | above $0.4025 up to $0.4375 | 85% | 15% | ||||||||||||||
Third Target Distribution | above $0.4375 up to $0.5250 | 75% | 25% | ||||||||||||||
Thereafter | above $0.5250 | 50% | 50% | ||||||||||||||
-1 | The class B unitholders participated in distributions on a pari passu basis with the Partnership’s common units up to $0.30 per unit per quarter. The class B units did not participate in quarterly distributions above $0.30 per unit and converted into common units on a one-for-one basis on October 9, 2013. | ||||||||||||||||
The Partnership has declared quarterly distributions per unit to unitholders of record, including holders of common and class B units and the 2% general partner interest and IDRs held by its general partner as follows (in millions, except distribution per unit): | |||||||||||||||||
Payment Date | Distribution | Amount Paid to Common | Amount Paid | Amount Paid to General Partner (Including IDRs) (1) | |||||||||||||
per Unit | Unitholders | to Class B | |||||||||||||||
Unitholder | |||||||||||||||||
November 14, 2013 | $ | 0.5325 | $ | 129.5 | $ | — | (2) | $ | 12.4 | ||||||||
August 15, 2013 | 0.5325 | 117.3 | 6.9 | 11.4 | |||||||||||||
May 16, 2013 | 0.5325 | 110.6 | 6.8 | 10.7 | |||||||||||||
February 28, 2013 | 0.5325 | 110.6 | 6.9 | 10.8 | |||||||||||||
November 15, 2012 | 0.5325 | 110.6 | 6.9 | 10.8 | |||||||||||||
August 16, 2012 | 0.5325 | 104.6 | 6.9 | 10.2 | |||||||||||||
May 17, 2012 | 0.5325 | 98.5 | 6.8 | 9.6 | |||||||||||||
February 23, 2012 | 0.53 | 98.1 | 6.8 | 9.1 | |||||||||||||
November 17, 2011 | 0.5275 | 92.7 | 6.9 | 8.2 | |||||||||||||
August 18, 2011 | 0.525 | 92.2 | 6.9 | 7.8 | |||||||||||||
May 19, 2011 | 0.5225 | 88.6 | 6.9 | 7.4 | |||||||||||||
February 24, 2011 | 0.52 | 88.2 | 6.8 | 7.3 | |||||||||||||
-1 | In 2013, 2012 and 2011, the Partnership paid $34.6 million, $30.1 million and $22.3 million in distributions on behalf of IDRs. | ||||||||||||||||
-2 | On October 9, 2013, all of the 22.9 million Class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. | ||||||||||||||||
In February 2014, the Partnership declared a quarterly cash distribution to unitholders of record of $0.10 per common unit. | |||||||||||||||||
Net Income per Unit | |||||||||||||||||
For purposes of calculating net income per unit, net income for the current period is reduced by the amount of available cash that will be distributed with respect to that period. Any residual amount representing undistributed net income (or loss) is assumed to be allocated to the various ownership interests in accordance with the contractual provisions of the partnership agreement. | |||||||||||||||||
Under the Partnership’s partnership agreement, for any quarterly period, the IDRs participate in net income only to the extent of the amount of cash distributions actually declared, thereby excluding the IDRs from participating in undistributed net income or losses. Accordingly, undistributed net income is assumed to be allocated to the other ownership interests on a pro rata basis, except that the class B units’ participation in net income was limited to $0.30 per unit per quarter. The Class B units were converted to common units on a one-for-one basis in October 2013. Payments made on account of the Partnership’s various ownership interests are determined in relation to actual declared distributions, and are not based on the assumed allocations required under GAAP. | |||||||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing basic and diluted net income per unit for the year ended December 31, 2013. Basic net income per unit is calculated based on the weighted average number of units outstanding for the period. Diluted net income per unit is calculated assuming that the class B units converted on the date that they became convertible, or July 1, 2013, (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 250.2 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | (3.5 | ) | |||||||||||||||
Net income attributable to controlling interests | 253.7 | ||||||||||||||||
Declared distribution | 430.5 | $ | 381.8 | $ | 13.7 | $ | 35 | ||||||||||
Assumed allocation of undistributed net loss - basic | (176.8 | ) | (160.5 | ) | (12.8 | ) | (3.5 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 253.7 | $ | 221.3 | $ | 0.9 | $ | 31.5 | |||||||||
partner unitholders and general partner - basic | |||||||||||||||||
Allocation for diluted earnings per unit | — | (4.6 | ) | 4.6 | — | ||||||||||||
Assumed allocation of net income attributable to limited | $ | 253.7 | $ | 216.7 | $ | 5.5 | $ | 31.5 | |||||||||
partner unitholders and general partner - diluted | |||||||||||||||||
Weighted-average units outstanding - basic | 220.5 | 17.6 | |||||||||||||||
Weighted-average units outstanding - diluted | 226.8 | 11.3 | |||||||||||||||
Net income per unit - basic | $ | 1 | $ | 0.05 | |||||||||||||
Net income per unit - diluted | $ | 0.96 | $ | 0.48 | |||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing net income per unit for the year ended December 31, 2012, (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 306 | |||||||||||||||
Less: Net loss attributable to predecessor equity | (2.2 | ) | |||||||||||||||
Net income attributable to controlling interests | 308.2 | ||||||||||||||||
Declared distribution | 493.1 | $ | 424.3 | $ | 27.5 | $ | 41.3 | ||||||||||
Assumed allocation of undistributed net loss | (184.9 | ) | (162.0 | ) | (19.2 | ) | (3.7 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 308.2 | $ | 262.3 | $ | 8.3 | $ | 37.6 | |||||||||
partner unitholders and general partner | |||||||||||||||||
Weighted-average units outstanding | 191.9 | 22.9 | |||||||||||||||
Net income per unit | $ | 1.37 | $ | 0.36 | |||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing net income per unit for the year ended December 31, 2011 (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 217 | |||||||||||||||
Less: Net loss attributable to predecessor equity | (3.2 | ) | |||||||||||||||
Net income attributable to controlling interests | 220.2 | ||||||||||||||||
Declared distribution | 431.6 | $ | 371.6 | $ | 27.5 | $ | 32.5 | ||||||||||
Assumed allocation of undistributed net loss | (211.4 | ) | (183.0 | ) | (24.2 | ) | (4.2 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 220.2 | $ | 188.6 | $ | 3.3 | $ | 28.3 | |||||||||
partner unitholders and general partner | |||||||||||||||||
Weighted-average units outstanding | 173.3 | 22.9 | |||||||||||||||
Net income per unit | $ | 1.09 | $ | 0.14 | |||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Note 14: Income Taxes | ||||||||||||
The Partnership is not a taxable entity for federal income tax purposes. As such, it does not directly pay federal income tax. The Partnership’s taxable income or loss, which may vary substantially from the net income or loss reported in the Consolidated Statements of Income, is includable in the federal income tax returns of each partner. The aggregate difference in the basis of the Partnership’s net assets for financial and income tax purposes cannot be readily determined as the Partnership does not have access to the information about each partner’s tax attributes. The subsidiaries of the Partnership directly incur some income-based state taxes which are presented in Income taxes on the Consolidated Statements of Income. | ||||||||||||
Following is a summary of the provision for income taxes for the periods ended December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
For the Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense: | ||||||||||||
State | $ | 0.4 | $ | (0.2 | ) | $ | 0.3 | |||||
Total | 0.4 | (0.2 | ) | 0.3 | ||||||||
Deferred provision: | ||||||||||||
State | 0.1 | 0.7 | 0.1 | |||||||||
Total | 0.1 | 0.7 | 0.1 | |||||||||
Income taxes | $ | 0.5 | $ | 0.5 | $ | 0.4 | ||||||
The Partnership’s tax years 2010 through 2013 remain subject to examination by the Internal Revenue Service and the states in which it operates. There were no differences between the provision at the statutory rate to the income tax provision at December 31, 2013, 2012 and 2011. As of December 31, 2013 and 2012, there were no significant deferred income tax assets or liabilities. |
Credit_Risk
Credit Risk | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Risks and Uncertainties [Abstract] | ' | |||||||||||||||||
Credit Risk | ' | |||||||||||||||||
Note 15: Credit Risk | ||||||||||||||||||
Major Customers | ||||||||||||||||||
Operating revenues received from the Partnership’s major customer (in millions) and the percentage of total operating revenues earned from that customer were: | ||||||||||||||||||
For the Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Revenue | % | Revenue | % | Revenue | % | |||||||||||||
Devon Gas Services, LP | $ | 127.1 | 11% | $ | 133.3 | 12% | $ | 134.2 | 12% | |||||||||
Gas Loaned to Customers | ||||||||||||||||||
Natural gas price volatility can cause changes in credit risk related to gas and NGLs loaned to customers. As of December 31, 2013, the amount of gas owed to the operating subsidiaries due to gas imbalances and gas loaned under PAL agreements was approximately 19.6 TBtu. Assuming an average market price during December 2013 of $4.17 per MMBtu, the market value of that gas was approximately $81.7 million. As of December 31, 2013, there were no outstanding imbalances owed to the operating subsidiaries from NGLs. As of December 31, 2012, the amount of gas owed to the operating subsidiaries due to gas imbalances and gas loaned under PAL agreements was approximately 11.7 TBtu. Assuming an average market price during December 2012 of $3.32 per MMBtu, the market value of this gas at December 31, 2012, would have been approximately $38.8 million. As of December 31, 2012, the amount of NGLs owed to the operating subsidiaries due to imbalances was approximately 0.1 MMbbls, which had a market value of approximately $6.8 million. If any significant customer should have credit or financial problems resulting in a delay or failure to repay the gas owed to the operating subsidiaries, it could have a material adverse effect on the Partnership’s financial condition, results of operations or cash flows. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 16: Related Party Transactions | |
Loews provides a variety of corporate services to the Partnership under services agreements, including but not limited to, information technology, tax, risk management, internal audit and corporate development services, plus allocated overheads. The Partnership incurred charges related to these services of $8.3 million, $8.3 million and $18.3 million for the years ended December 31, 2013, 2012 and 2011. | |
Distributions paid related to limited partner units held by BPHC and the 2% general partner interest and IDRs held by Boardwalk GP were $296.8 million, $285.7 million and $273.3 million for the years ended December 31, 2013, 2012 and 2011. | |
In 2013, the Partnership entered into agreements with BPHC to form Boardwalk Bluegrass and Boardwalk Moss Lake. Refer to Note 3 for further information. For the year ended December 31, 2013, the Partnership contributed $11.9 million and BPHC contributed $90.0 million of cash and assets to these entities. |
Supplemental_Disclosure_of_Cas
Supplemental Disclosure of Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Disclosure of Cash Flow Information | ' | |||||||||||
Note 17: Supplemental Disclosure of Cash Flow Information (in millions): | ||||||||||||
For the Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cash paid during the period for: | ||||||||||||
Interest (net of amount capitalized) (1) | $ | 151 | $ | 169.8 | $ | 172.7 | ||||||
Income taxes, net | $ | 0.3 | $ | 0.2 | $ | 0.3 | ||||||
Non-cash adjustments: | ||||||||||||
Accounts payable and PPE (2) | $ | 38.1 | $ | 37.9 | $ | 23.8 | ||||||
Capital lease obligations incurred | $ | 10.5 | $ | — | $ | — | ||||||
-1 | The 2012 period includes payments of $9.6 million related to the settlements of interest rate derivatives and the 2011 period includes premium payments of $21.0 million related to the 2013 Notes redemption. | |||||||||||
-2 | The 2012 amount was restated to include $1.9 million previously excluded. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data (Unaudited) | ' | |||||||||||||||
Note 18: Selected Quarterly Financial Data (Unaudited) | ||||||||||||||||
The following tables summarize selected quarterly financial data for 2013 and 2012 for the Partnership (in millions, except for earnings per unit): | ||||||||||||||||
2013 | ||||||||||||||||
For the Quarter Ended: | ||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | |||||||||||||
Operating revenues | $ | 312.9 | $ | 275.5 | $ | 288.7 | $ | 328.5 | ||||||||
Operating expenses | 254.4 | 172.3 | 177.6 | 186.8 | ||||||||||||
Operating income | 58.5 | 103.2 | 111.1 | 141.7 | ||||||||||||
Interest expense, net | 41.1 | 40.9 | 40.6 | 40.3 | ||||||||||||
Other (income) expense | 0.5 | 0.6 | — | (0.2 | ) | |||||||||||
Income before income taxes | 16.9 | 61.7 | 70.5 | 101.6 | ||||||||||||
Income taxes | 0.2 | — | 0.1 | 0.2 | ||||||||||||
Net income | 16.7 | 61.7 | 70.4 | 101.4 | ||||||||||||
Net loss attributable to | (2.8 | ) | (0.6 | ) | (0.1 | ) | — | |||||||||
noncontrolling interests | ||||||||||||||||
Net income attributable to | $ | 19.5 | $ | 62.3 | $ | 70.5 | $ | 101.4 | ||||||||
controlling interests | ||||||||||||||||
Basic net income per unit: | ||||||||||||||||
Common units | $ | 0.08 | $ | 0.27 | $ | 0.28 | $ | 0.42 | ||||||||
Class B units | $ | (0.02 | ) | $ | (0.32 | ) | $ | 0.03 | $ | 0.19 | ||||||
Diluted net income per unit: | ||||||||||||||||
Common units | $ | 0.08 | $ | 0.21 | $ | 0.28 | $ | 0.42 | ||||||||
Class B units | $ | — | $ | — | $ | 0.03 | $ | 0.19 | ||||||||
2012 | ||||||||||||||||
For the Quarter Ended: | ||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | |||||||||||||
Operating revenues | $ | 325.7 | $ | 270.6 | $ | 275.8 | $ | 312.9 | ||||||||
Operating expenses | 195.5 | 169.1 | 167.3 | 179.3 | ||||||||||||
Operating income | 130.2 | 101.5 | 108.5 | 133.6 | ||||||||||||
Interest expense, net | 40.1 | 43.3 | 43.4 | 40.9 | ||||||||||||
Other (income) expense | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | ||||||||
Income before income taxes | 90.2 | 58.3 | 65.2 | 92.8 | ||||||||||||
Income taxes | 0.1 | 0.1 | 0.1 | 0.2 | ||||||||||||
Net income | $ | 90.1 | $ | 58.2 | $ | 65.1 | $ | 92.6 | ||||||||
Basic net income per unit: | ||||||||||||||||
Common units | $ | 0.38 | $ | 0.26 | $ | 0.3 | $ | 0.43 | ||||||||
Class B units | $ | 0.14 | $ | (0.02 | ) | $ | 0.07 | $ | 0.19 | |||||||
Diluted net income per unit: | ||||||||||||||||
Common units | $ | 0.38 | $ | 0.26 | $ | 0.3 | $ | 0.43 | ||||||||
Class B units | $ | 0.14 | $ | (0.02 | ) | $ | 0.07 | $ | 0.19 | |||||||
Guarantee_of_Securities_of_Sub
Guarantee of Securities of Subsidiaries | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Guarantee of Securities of Subsidiaries | ' | ||||||||||||||||||||
Note 19: Guarantee of Securities of Subsidiaries | |||||||||||||||||||||
Boardwalk Pipelines (subsidiary issuer) has issued securities which have been fully and unconditionally guaranteed by the Partnership (parent guarantor). The Partnership's subsidiaries have no significant restrictions on their ability to pay distributions or make loans to the Partnership except as noted in the debt covenants and have no restricted assets at December 31, 2013 and 2012. Note 11 contains additional information regarding the Partnership's debt and related covenants. | |||||||||||||||||||||
The Partnership has provided the following condensed consolidating financial information in accordance with Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered. The 2012 Condensed Consolidating Statements of Comprehensive Income Subsidiary Issuer and Elimination columns were increased by $6.7 million in the Gain (loss) on cash flow hedges line, increased by $0.3 million in the Reclassification adjustment transferred to Net Income from cash flow hedges line and changed by $6.4 million in the Total Comprehensive Income line to reflect the equity portion of the non-guarantor subsidiaries balances. In addition, for the 2011 Condensed Consolidating Statements of Comprehensive Income, the Subsidiary Issuer and Elimination columns were changed by $1.5 million in the Reclassification adjustment transferred to Net Income from cash flow hedges line and in the Total Comprehensive Income line to reflect the equity portion of the non-guarantor subsidiaries balances. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.2 | $ | 9.2 | $ | 19.1 | $ | — | $ | 28.5 | |||||||||||
Receivables | — | — | 119.2 | — | 119.2 | ||||||||||||||||
Receivables - affiliate | 0.1 | 0.1 | 14.3 | (13.4 | ) | 1.1 | |||||||||||||||
Gas and liquids stored underground | — | — | 0.7 | — | 0.7 | ||||||||||||||||
Prepayments | 0.3 | — | 12.6 | — | 12.9 | ||||||||||||||||
Advances to affiliates | — | — | 194.4 | (194.4 | ) | — | |||||||||||||||
Other current assets | — | — | 23.8 | (9.1 | ) | 14.7 | |||||||||||||||
Total current assets | 0.6 | 9.3 | 384.1 | (216.9 | ) | 177.1 | |||||||||||||||
Investment in consolidated subsidiaries | 1,480.80 | 6,138.30 | — | (7,619.1 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,722.70 | — | 8,723.30 | ||||||||||||||||
Less–accumulated depreciation and | 0.6 | — | 1,488.60 | — | 1,489.20 | ||||||||||||||||
amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,234.10 | — | 7,234.10 | ||||||||||||||||
Other noncurrent assets | 0.3 | 3.7 | 420.7 | — | 424.7 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,512.10 | 168.7 | 733.1 | (3,413.9 | ) | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | 78.6 | — | 78.6 | ||||||||||||||||
Total other assets | 2,512.40 | 172.4 | 1,232.40 | (3,413.9 | ) | 503.3 | |||||||||||||||
Total Assets | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Liabilities & Partners' Capital/ | Parent | Subsidiary | Non-guarantor | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Member’s Equity | Guarantor | Issuer | Subsidiaries | ||||||||||||||||||
Payables | $ | 0.2 | $ | — | $ | 70.6 | $ | — | $ | 70.8 | |||||||||||
Payable to affiliates | 0.7 | — | 13.9 | (13.4 | ) | 1.2 | |||||||||||||||
Advances from affiliates | — | 194.4 | — | (194.4 | ) | — | |||||||||||||||
Other current liabilities | — | 19.7 | 153.3 | (9.0 | ) | 164 | |||||||||||||||
Total current liabilities | 0.9 | 214.1 | 237.8 | (216.8 | ) | 236 | |||||||||||||||
Total long-term debt and capital lease | — | 1,379.90 | 2,044.50 | — | 3,424.40 | ||||||||||||||||
obligation | |||||||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,245.20 | 168.7 | (3,413.9 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | — | 174.8 | (0.1 | ) | 174.7 | |||||||||||||||
Total other liabilities and deferred | 16 | 3,245.20 | 343.5 | (3,414.0 | ) | 190.7 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners’ capital/member’s equity | 3,976.90 | 1,480.80 | 6,138.30 | (7,619.1 | ) | 3,976.90 | |||||||||||||||
Noncontrolling interest | — | — | 86.5 | — | 86.5 | ||||||||||||||||
Total Equity | 3,976.90 | 1,480.80 | 6,224.80 | (7,619.1 | ) | 4,063.40 | |||||||||||||||
Total Liabilities and | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Partners' Capital/Member’s Equity | |||||||||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.1 | $ | 1 | $ | 2.8 | $ | — | $ | 3.9 | |||||||||||
Receivables | — | — | 119.5 | (7.3 | ) | 112.2 | |||||||||||||||
Gas and liquids stored underground | — | — | 10.8 | — | 10.8 | ||||||||||||||||
Prepayments | — | — | 15.2 | — | 15.2 | ||||||||||||||||
Advances to affiliates | — | — | 2 | (2.0 | ) | — | |||||||||||||||
Other current assets | 0.4 | — | 18.1 | (3.6 | ) | 14.9 | |||||||||||||||
Total current assets | 0.5 | 1 | 168.4 | (12.9 | ) | 157 | |||||||||||||||
Investment in consolidated subsidiaries | 1,257.00 | 5,785.70 | — | (7,042.7 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,422.70 | — | 8,423.30 | ||||||||||||||||
Less–accumulated depreciation | 0.6 | — | 1,233.50 | — | 1,234.10 | ||||||||||||||||
and amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,189.20 | — | 7,189.20 | ||||||||||||||||
Other noncurrent assets | 0.1 | 4.8 | 511.4 | — | 516.3 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,638.50 | 84.4 | 582.6 | (3,305.5 | ) | — | |||||||||||||||
Total other assets | 2,638.60 | 89.2 | 1,094.00 | (3,305.5 | ) | 516.3 | |||||||||||||||
Total Assets | $ | 3,896.10 | $ | 5,875.90 | $ | 8,451.60 | $ | (10,361.1 | ) | $ | 7,862.50 | ||||||||||
Liabilities & Partners' Capital/ | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Member’s Equity | Guarantor | Issuer | |||||||||||||||||||
Payables | $ | 0.1 | $ | — | $ | 96.2 | $ | (7.3 | ) | $ | 89 | ||||||||||
Payable to affiliates | 2.7 | — | — | — | 2.7 | ||||||||||||||||
Advances from affiliate | — | 2 | — | (2.0 | ) | — | |||||||||||||||
Other current liabilities | 0.2 | 16.9 | 150.4 | (3.4 | ) | 164.1 | |||||||||||||||
Total current liabilities | 3 | 18.9 | 246.6 | (12.7 | ) | 255.8 | |||||||||||||||
Total long-term debt | — | 1,378.90 | 2,160.30 | — | 3,539.20 | ||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,221.10 | 84.4 | (3,305.5 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | — | 174.6 | (0.2 | ) | 174.4 | |||||||||||||||
Total other liabilities and deferred | 16 | 3,221.10 | 259 | (3,305.7 | ) | 190.4 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners’ capital/member’s equity | 3,877.10 | 1,257.00 | 5,785.70 | (7,042.7 | ) | 3,877.10 | |||||||||||||||
Noncontrolling interest | — | — | — | — | — | ||||||||||||||||
Total Equity | 3,877.10 | 1,257.00 | 5,785.70 | (7,042.7 | ) | 3,877.10 | |||||||||||||||
Total Liabilities and | $ | 3,896.10 | $ | 5,875.90 | $ | 8,451.60 | $ | (10,361.1 | ) | $ | 7,862.50 | ||||||||||
Partners' Capital/Member’s Equity | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,116.40 | $ | (88.4 | ) | $ | 1,028.00 | ||||||||||
Parking and lending | — | — | 24 | (0.1 | ) | 23.9 | |||||||||||||||
Storage | — | — | 111 | (0.1 | ) | 110.9 | |||||||||||||||
Other | — | — | 42.8 | — | 42.8 | ||||||||||||||||
Total operating revenues | — | — | 1,294.20 | (88.6 | ) | 1,205.60 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 182 | (88.6 | ) | 93.4 | |||||||||||||||
Operation and maintenance | — | 0.3 | 186.2 | — | 186.5 | ||||||||||||||||
Administrative and general | (0.1 | ) | 0.8 | 116.7 | — | 117.4 | |||||||||||||||
Other operating costs and expenses | 0.3 | 0.1 | 393.4 | — | 393.8 | ||||||||||||||||
Total operating costs and expenses | 0.2 | 1.2 | 878.3 | (88.6 | ) | 791.1 | |||||||||||||||
Operating (loss) income | (0.2 | ) | (1.2 | ) | 415.9 | — | 414.5 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 72.7 | 90.7 | — | 163.4 | ||||||||||||||||
Interest expense - affiliates | (33.6 | ) | 41.3 | (7.7 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.5 | ) | — | (0.5 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (220.3 | ) | (335.5 | ) | — | 555.8 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 1.2 | — | 1.2 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Miscellaneous other income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Total other (income) deductions | (253.9 | ) | (221.5 | ) | 83.4 | 555.8 | 163.8 | ||||||||||||||
Income before income taxes | 253.7 | 220.3 | 332.5 | (555.8 | ) | 250.7 | |||||||||||||||
Income taxes | — | — | 0.5 | — | 0.5 | ||||||||||||||||
Net Income | 253.7 | 220.3 | 332 | (555.8 | ) | 250.2 | |||||||||||||||
Net loss attributable to | — | — | (3.5 | ) | — | (3.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 253.7 | $ | 220.3 | $ | 335.5 | $ | (555.8 | ) | $ | 253.7 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,147.50 | $ | (89.2 | ) | $ | 1,058.30 | ||||||||||
Parking and lending | — | — | 28.7 | (0.7 | ) | 28 | |||||||||||||||
Storage | — | — | 85.4 | (0.7 | ) | 84.7 | |||||||||||||||
Other | — | — | 14 | — | 14 | ||||||||||||||||
Total operating revenues | — | — | 1,275.60 | (90.6 | ) | 1,185.00 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 170 | (90.6 | ) | 79.4 | |||||||||||||||
Operation and maintenance | — | — | 167.2 | — | 167.2 | ||||||||||||||||
Administrative and general | 0.5 | — | 114.8 | — | 115.3 | ||||||||||||||||
Other operating costs and expenses | 0.3 | — | 349 | — | 349.3 | ||||||||||||||||
Total operating costs and expenses | 0.8 | — | 801 | (90.6 | ) | 711.2 | |||||||||||||||
Operating (loss) income | (0.8 | ) | — | 474.6 | — | 473.8 | |||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 63.1 | 98.4 | — | 161.5 | ||||||||||||||||
Interest expense - affiliates | (35.6 | ) | 52.9 | (10.4 | ) | — | 6.9 | ||||||||||||||
Interest income | — | — | (0.7 | ) | — | (0.7 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (271.2 | ) | (387.2 | ) | — | 658.4 | — | ||||||||||||||
Miscellaneous other income | — | — | (0.4 | ) | — | (0.4 | ) | ||||||||||||||
Total other (income) deductions | (306.8 | ) | (271.2 | ) | 86.9 | 658.4 | 167.3 | ||||||||||||||
Income before income taxes | 306 | 271.2 | 387.7 | (658.4 | ) | 306.5 | |||||||||||||||
Income taxes | — | — | 0.5 | — | 0.5 | ||||||||||||||||
Net Income | $ | 306 | $ | 271.2 | $ | 387.2 | $ | (658.4 | ) | $ | 306 | ||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,165.80 | $ | (98.6 | ) | $ | 1,067.20 | ||||||||||
Parking and lending | — | — | 12.8 | (0.8 | ) | 12 | |||||||||||||||
Storage | — | — | 52.2 | — | 52.2 | ||||||||||||||||
Other | — | — | 11.5 | — | 11.5 | ||||||||||||||||
Total operating revenues | — | — | 1,242.30 | (99.4 | ) | 1,142.90 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 202.2 | (99.4 | ) | 102.8 | |||||||||||||||
Operation and maintenance | — | — | 175.2 | — | 175.2 | ||||||||||||||||
Administrative and general | (0.3 | ) | — | 137.5 | — | 137.2 | |||||||||||||||
Other operating costs and expenses | 0.3 | — | 338.2 | — | 338.5 | ||||||||||||||||
Total operating costs and expenses | — | — | 853.1 | (99.4 | ) | 753.7 | |||||||||||||||
Operating income | — | — | 389.2 | — | 389.2 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | 0.1 | 64.4 | 87.4 | — | 151.9 | ||||||||||||||||
Interest expense - affiliates | (31.6 | ) | 46.1 | (6.5 | ) | — | 8 | ||||||||||||||
Loss on early retirement of debt | — | — | 13.2 | — | 13.2 | ||||||||||||||||
Interest income | — | — | (0.4 | ) | — | (0.4 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (185.5 | ) | (296.0 | ) | — | 481.5 | — | ||||||||||||||
Miscellaneous other income | — | — | (0.9 | ) | — | (0.9 | ) | ||||||||||||||
Total other (income) deductions | (217.0 | ) | (185.5 | ) | 92.8 | 481.5 | 171.8 | ||||||||||||||
Income before income taxes | 217 | 185.5 | 296.4 | (481.5 | ) | 217.4 | |||||||||||||||
Income taxes | — | — | 0.4 | — | 0.4 | ||||||||||||||||
Net Income | $ | 217 | $ | 185.5 | $ | 296 | $ | (481.5 | ) | $ | 217 | ||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 253.7 | $ | 220.3 | $ | 332 | $ | (555.8 | ) | $ | 250.2 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 1.6 | 1.6 | 1.6 | (3.2 | ) | 1.6 | |||||||||||||||
Reclassification adjustment | 1.2 | 1.2 | (0.5 | ) | (0.7 | ) | 1.2 | ||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | 0.7 | 0.7 | 0.7 | (1.4 | ) | 0.7 | |||||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 257.2 | 223.8 | 333.8 | (561.1 | ) | 253.7 | |||||||||||||||
Comprehensive loss attributable to | — | — | (3.5 | ) | — | (3.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 257.2 | $ | 223.8 | $ | 337.3 | $ | (561.1 | ) | $ | 257.2 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 306 | $ | 271.2 | $ | 387.2 | $ | (658.4 | ) | $ | 306 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | (7.1 | ) | (7.1 | ) | (6.7 | ) | 13.8 | (7.1 | ) | ||||||||||||
Reclassification adjustment | 2 | 2 | 0.3 | (2.3 | ) | 2 | |||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (12.8 | ) | (12.8 | ) | (12.8 | ) | 25.6 | (12.8 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | $ | 288.1 | $ | 253.3 | $ | 368 | $ | (621.3 | ) | $ | 288.1 | ||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 217 | $ | 185.5 | $ | 296 | $ | (481.5 | ) | $ | 217 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 3.1 | 3.1 | 3.1 | (6.2 | ) | 3.1 | |||||||||||||||
Reclassification adjustment | 0.2 | 0.2 | (1.5 | ) | 1.3 | 0.2 | |||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (13.2 | ) | (13.2 | ) | (13.2 | ) | 26.4 | (13.2 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | $ | 207.1 | $ | 175.6 | $ | 284.4 | $ | (460.0 | ) | $ | 207.1 | ||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 33.9 | $ | (108.8 | ) | $ | 609.2 | $ | — | $ | 534.3 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (294.8 | ) | — | (294.8 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 60.7 | — | 60.7 | ||||||||||||||||
Proceeds from insurance | — | — | 1.4 | — | 1.4 | ||||||||||||||||
and other recoveries | |||||||||||||||||||||
Advances to affiliate | 126.4 | (84.3 | ) | (342.8 | ) | 300.7 | — | ||||||||||||||
Investment in consolidated affiliate | — | (15.1 | ) | — | 15.1 | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | (76.7 | ) | — | (76.7 | ) | ||||||||||||||
Net cash provided by (used in) | 126.4 | (99.4 | ) | (652.2 | ) | 315.8 | (309.4 | ) | |||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 1,128.00 | — | 1,128.00 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (1,255.0 | ) | — | (1,255.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | — | 15.1 | (15.1 | ) | — | |||||||||||||||
Principal payment of capital lease | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
obligation | |||||||||||||||||||||
Advances from affiliate | (2.8 | ) | 216.4 | 84.3 | (300.7 | ) | (2.8 | ) | |||||||||||||
Distributions paid | (533.9 | ) | — | — | — | (533.9 | ) | ||||||||||||||
Capital contribution from noncontrolling | — | — | 87.1 | — | 87.1 | ||||||||||||||||
interests | |||||||||||||||||||||
Proceeds from sale of common units | 368.7 | — | — | — | 368.7 | ||||||||||||||||
Capital contribution from general partner | 7.8 | — | — | — | 7.8 | ||||||||||||||||
Net cash (used in) provided by | (160.2 | ) | 216.4 | 59.3 | (315.8 | ) | (200.3 | ) | |||||||||||||
financing activities | |||||||||||||||||||||
Increase in cash and cash | 0.1 | 8.2 | 16.3 | — | 24.6 | ||||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.1 | 1 | 2.8 | — | 3.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.2 | $ | 9.2 | $ | 19.1 | $ | — | $ | 28.5 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 31.4 | $ | 577.9 | $ | 655.7 | $ | (689.5 | ) | $ | 575.5 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (226.9 | ) | — | (226.9 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 5.9 | — | 5.9 | ||||||||||||||||
Proceeds from insurance and other | — | — | 10.4 | — | 10.4 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliate | (404.2 | ) | (84.4 | ) | 66.2 | 422.4 | — | ||||||||||||||
Investment in consolidated affiliate | (17.0 | ) | (398.0 | ) | — | 415 | — | ||||||||||||||
Acquisition of business, net of cash | — | — | (620.2 | ) | — | (620.2 | ) | ||||||||||||||
acquired | |||||||||||||||||||||
Net cash (used in) provided by | (421.2 | ) | (482.4 | ) | (764.6 | ) | 837.4 | (830.8 | ) | ||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from long-term debt and term | — | 297.6 | 520.4 | — | 818 | ||||||||||||||||
loans | |||||||||||||||||||||
Repayment of borrowings from long- | — | (100.0 | ) | (425.0 | ) | — | (525.0 | ) | |||||||||||||
term debt, term loans and subordinated | |||||||||||||||||||||
debt | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | 300 | 1,835.00 | — | 2,135.00 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | (403.8 | ) | (1,891.5 | ) | — | (2,295.3 | ) | |||||||||||||
credit agreement including financing | |||||||||||||||||||||
costs | |||||||||||||||||||||
Contribution from parent | — | 17 | 398 | (415.0 | ) | — | |||||||||||||||
Contribution received related to | — | — | 269.2 | — | 269.2 | ||||||||||||||||
predecessor equity | |||||||||||||||||||||
Repayment of contribution received related to predecessor equity | — | (554.0 | ) | — | — | (554.0 | ) | ||||||||||||||
Advances from affiliate | 2.6 | 338 | 84.4 | (422.4 | ) | 2.6 | |||||||||||||||
Distributions paid | (478.9 | ) | — | (689.5 | ) | 689.5 | (478.9 | ) | |||||||||||||
Proceeds from sale of common units | 847.7 | — | — | — | 847.7 | ||||||||||||||||
Capital contribution from general partner | 18 | — | — | — | 18 | ||||||||||||||||
Net cash provided by (used in) | 389.4 | (105.2 | ) | 101 | (147.9 | ) | 237.3 | ||||||||||||||
financing activities | |||||||||||||||||||||
Decrease in cash and cash | (0.4 | ) | (9.7 | ) | (7.9 | ) | — | (18.0 | ) | ||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.5 | 10.7 | 10.7 | — | 21.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.1 | $ | 1 | $ | 2.8 | $ | — | $ | 3.9 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 31.4 | $ | 32.2 | $ | 543.1 | $ | (152.8 | ) | $ | 453.9 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (141.9 | ) | — | (141.9 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 31.5 | — | 31.5 | ||||||||||||||||
Proceeds from insurance and other | — | — | 9.6 | — | 9.6 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliate | 227 | 107.8 | (288.5 | ) | (46.3 | ) | — | ||||||||||||||
Investment in consolidated affiliate | (11.6 | ) | (70.0 | ) | — | 81.6 | — | ||||||||||||||
Acquisition of business, net of cash | — | — | (545.5 | ) | — | (545.5 | ) | ||||||||||||||
acquired | |||||||||||||||||||||
Net cash provided by (used in) | 215.4 | 37.8 | (934.8 | ) | 35.3 | (646.3 | ) | ||||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from long-term debt and term | — | — | 636.8 | — | 636.8 | ||||||||||||||||
loan | |||||||||||||||||||||
Repayment of borrowings from | — | — | (250.0 | ) | — | (250.0 | ) | ||||||||||||||
long-term debt | |||||||||||||||||||||
Payments of premiums on | — | — | (21.0 | ) | — | (21.0 | ) | ||||||||||||||
extinguishment of long-term debt | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | 305 | 280 | — | 585 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | (490.0 | ) | (340.0 | ) | — | (830.0 | ) | |||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | 11.6 | 70 | (81.6 | ) | — | |||||||||||||||
Contributions received related to | — | — | 284.8 | — | 284.8 | ||||||||||||||||
predecessor equity | |||||||||||||||||||||
Advances from affiliate | — | 61.5 | (107.8 | ) | 46.3 | — | |||||||||||||||
Distributions paid | (419.9 | ) | — | (152.8 | ) | 152.8 | (419.9 | ) | |||||||||||||
Proceeds from sale of common units | 170 | — | — | — | 170 | ||||||||||||||||
Capital contribution from general | 3.6 | — | — | — | 3.6 | ||||||||||||||||
partner | |||||||||||||||||||||
Net cash (used in) provided by | (246.3 | ) | (111.9 | ) | 400 | 117.5 | 159.3 | ||||||||||||||
financing activities | |||||||||||||||||||||
Increase (decrease) | 0.5 | (41.9 | ) | 8.3 | — | (33.1 | ) | ||||||||||||||
in cash and cash equivalents | |||||||||||||||||||||
Cash and cash equivalents at | — | 52.6 | 2.4 | — | 55 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.5 | $ | 10.7 | $ | 10.7 | $ | — | $ | 21.9 | |||||||||||
end of period | |||||||||||||||||||||
Accounting_Policies_Policies
Accounting Policies (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Consolidation, Policy [Policy Text Block] | ' | |||||||||||
Principles of Consolidation | ||||||||||||
The consolidated financial statements include the Partnership’s accounts and those of its wholly-owned subsidiaries after elimination of intercompany transactions. The Partnership also consolidates variable interest entities (VIEs) in which the Partnership is the primary beneficiary. Third party or affiliate ownership interests in the Partnership's subsidiaries and consolidated VIEs are presented as noncontrolling interests. | ||||||||||||
The Partnership applies the equity method of accounting for investments in unconsolidated affiliates in which it owns 20 percent to 50 percent of the voting interests or otherwise exercises significant influence, but not control, over operating and financial policies of the investee. Under this method, the carrying amounts of the Partnership's equity investments are increased by a proportionate share of the investee's net income and contributions made, and decreased by a proportionate share of the investee's net losses and distributions received. | ||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | |||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities and the fair values of certain items. The Partnership bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from such estimates. | ||||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | |||||||||||
Segment Information | ||||||||||||
The Partnership operates in one reportable segment - the operation of interstate natural gas and natural gas liquids (NGLs) pipeline systems including integrated storage facilities. This segment consists of interstate natural gas pipeline systems which originate in the Gulf Coast region, Oklahoma and Arkansas, and extend north and east through the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio and NGLs pipelines and storage facilities in Louisiana. | ||||||||||||
Public Utilities, Policy [Policy Text Block] | ' | |||||||||||
Regulatory Accounting | ||||||||||||
Most of the Partnership's natural gas pipeline subsidiaries are regulated by the Federal Energy Regulatory Commission (FERC). When certain criteria are met, GAAP requires that certain rate-regulated entities account for and report assets and liabilities consistent with the economic effect of the manner in which independent third-party regulators establish rates (regulatory accounting). This basis of accounting is applicable to operations of the Partnership’s Texas Gas subsidiary which records certain costs and benefits as regulatory assets and liabilities in order to provide for recovery from or refund to customers in future periods, but is not applicable to operations associated with the Fayetteville and Greenville Laterals due to rates charged under negotiated rate agreements and a portion of the storage capacity due to the regulatory treatment associated with the rates charged for that capacity. Regulatory accounting is not applicable to the Partnership’s other FERC-regulated entities. | ||||||||||||
The Partnership monitors the regulatory and competitive environment in which it operates to determine that its regulatory assets continue to be probable of recovery. If the Partnership were to determine that all or a portion of its regulatory assets no longer met the criteria for recognition as regulatory assets, that portion which was not recoverable would be written off, net of any regulatory liabilities. | ||||||||||||
Note 10 contains more information regarding the Partnership’s regulatory assets and liabilities. | ||||||||||||
Fair Value Measurement, Policy [Policy Text Block] | ' | |||||||||||
Fair Value Measurements | ||||||||||||
Fair value refers to an exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal market in which the reporting entity transacts based on the assumptions market participants would use when pricing the asset or liability assuming its highest and best use. A fair value hierarchy has been established that prioritizes the information used to develop those assumptions giving priority, from highest to lowest, to quoted prices in active markets for identical assets and liabilities (Level 1); observable inputs not included in Level 1, for example, quoted prices for similar assets and liabilities (Level 2); and unobservable data (Level 3), for example, a reporting entity’s own internal data based on the best information available in the circumstances. The Partnership uses fair value measurements to record derivatives, asset retirement obligations and impairments. Fair value measurements are also used to perform goodwill impairment testing and report fair values for certain items contained in this Report. The Partnership considers any transfers between levels within the fair value hierarchy to have occurred at the beginning of a quarterly reporting period. The Partnership did not recognize any transfers between Level 1 and Level 2 of the fair value hierarchy and did not change its valuation techniques or inputs during the year ended December 31, 2013. | ||||||||||||
Notes 6 and 12 contain more information regarding fair value measurements. | ||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |||||||||||
Cash and Cash Equivalents | ||||||||||||
Cash equivalents are highly liquid investments with an original maturity of three months or less and are stated at cost plus accrued interest, which approximates fair value. The Partnership had no restricted cash at December 31, 2013 and 2012. | ||||||||||||
Cash Management | ' | |||||||||||
Cash Management | ||||||||||||
The operating subsidiaries participate in an intercompany cash management program with those that are FERC-regulated participating to the extent they are permitted under FERC regulations. Under the cash management program, depending on whether a participating subsidiary has short-term cash surpluses or cash requirements, Boardwalk Pipelines either provides cash to them or they provide cash to Boardwalk Pipelines. The transactions are represented by demand notes and are stated at historical carrying amounts. Interest income and expense is recognized on an accrual basis when collection is reasonably assured. The interest rate on intercompany demand notes is London Interbank Offered Rate (LIBOR) plus one percent and is adjusted every three months. | ||||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | |||||||||||
Trade and Other Receivables | ||||||||||||
Trade and other receivables are stated at their historical carrying amount, net of allowances for doubtful accounts. The Partnership establishes an allowance for doubtful accounts on a case-by-case basis when it believes the required payment of specific amounts owed is unlikely to occur. Uncollectible receivables are written off when a settlement is reached for an amount that is less than the outstanding historical balance or a receivable amount is deemed otherwise unrealizable. | ||||||||||||
Gas Stored Underground and Gas Receivables and Payables | ' | |||||||||||
Gas Stored Underground and Gas Receivables and Payables | ||||||||||||
Certain of the Partnership's operating subsidiaries have underground gas in storage which is utilized for system management and operational balancing, as well as for services including firm and interruptible storage associated with certain no-notice and parking and lending (PAL) services. Gas stored underground includes the historical cost of natural gas volumes owned by the operating subsidiaries, at times reduced by certain operational encroachments upon that gas. Current gas stored underground represents net retained fuel remaining after providing transportation and storage services which is available for resale and is valued at the lower of weighted-average cost or market. | ||||||||||||
The operating subsidiaries provide storage services whereby they store natural gas or NGLs on behalf of customers and also periodically hold customer gas under PAL services. Since the customers retain title to the gas held by the Partnership in providing these services, the Partnership does not record the related gas on its balance sheet. Certain of the Partnership's operating subsidiaries also periodically lend gas and NGLs to customers. | ||||||||||||
In the course of providing transportation and storage services to customers, the operating subsidiaries may receive different quantities of gas from shippers and operators than the quantities delivered on behalf of those shippers and operators. This results in transportation and exchange gas receivables and payables, commonly known as imbalances, which are settled in cash or the receipt or delivery of gas in the future. Settlement of imbalances requires agreement between the pipelines and shippers or operators as to allocations of volumes to specific transportation contracts and timing of delivery of gas based on operational conditions. The receivables and payables are valued at market price for operations where regulatory accounting is not applicable and are valued at the historical value of gas in storage for operations where regulatory accounting is applicable. | ||||||||||||
Materials and Supplies | ' | |||||||||||
Materials and Supplies | ||||||||||||
Materials and supplies are carried at average cost and are included in Other Assets on the Consolidated Balance Sheets. The Partnership expects its materials and supplies to be used for capital projects related to its property, plant and equipment and for future growth projects. | ||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |||||||||||
Property, Plant and Equipment (PPE) and Repair and Maintenance Costs | ||||||||||||
PPE is recorded at its original cost of construction or fair value of assets purchased. Construction costs and expenditures for major renewals and improvements which extend the lives of the respective assets are capitalized. Construction work in progress is included in the financial statements as a component of PPE. All repair and maintenance costs are expensed as incurred. | ||||||||||||
Depreciation of PPE related to operations for which regulatory accounting does not apply is provided for using the straight-line method of depreciation over the estimated useful lives of the assets, which range from 3 to 35 years. The ordinary sale or retirement of PPE for these assets could result in a gain or loss. Depreciation of PPE related to operations for which regulatory accounting is applicable is provided for primarily on the straight-line method at FERC-prescribed rates over estimated useful lives of 5 to 62 years. Reflecting the application of composite depreciation, gains and losses from the ordinary sale or retirement of PPE for these assets are not recognized in earnings and generally do not impact PPE, net. | ||||||||||||
Note 7 contains more information regarding the Partnership’s PPE. | ||||||||||||
Goodwill | ' | |||||||||||
Goodwill and Intangible Assets | ||||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets acquired and liabilities assumed. Goodwill is tested for impairment at the reporting unit level at least annually, as of November 30, or more frequently when events occur and circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Accounting requirements provide that a reporting entity may perform an optional qualitative assessment on an annual basis to determine whether events occurred or circumstances changed that would more likely than not reduce the fair value of a reporting unit below its carrying amount. If an initial qualitative assessment identifies that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, or the optional qualitative assessment is not performed, a quantitative analysis is performed under a two-step impairment test to measure whether the fair value of the reporting unit is less than its carrying amount. If based upon a quantitative analysis the fair value of the reporting unit is less than its carrying amount, including goodwill, the Partnership performs an analysis of the fair value of all the assets and liabilities of the reporting unit. If the implied fair value of the reporting unit's goodwill is determined to be less than its carrying amount, an impairment loss is recognized for the difference. | ||||||||||||
Intangible assets are those assets which provide future economic benefit but have no physical substance. The Partnership recorded intangible assets for customer relationships obtained through the purchases of Petal and Louisiana Midstream. The customer relationships, which are included in Other Assets on the Consolidated Balance Sheets, have a finite life and are being amortized in a systematic and rational manner over their estimated useful lives. | ||||||||||||
Note 8 contains additional information regarding the Partnership's goodwill and intangible assets. | ||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | |||||||||||
Impairment of Long-lived Assets (including Tangible and Definite-lived Intangible Assets) | ||||||||||||
The Partnership evaluates its long-lived and intangible assets for impairment when, in management’s judgment, events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. When such a determination has been made, management’s estimate of undiscounted future cash flows attributable to the remaining economic useful life of the asset is compared to the carrying amount of the asset to determine whether an impairment has occurred. If an impairment of the carrying amount has occurred, the amount of impairment recognized in the financial statements is determined by estimating the fair value of the assets and recording a loss to the extent that the carrying amount exceeds the estimated fair value. | ||||||||||||
Interest Expense, Policy [Policy Text Block] | ' | |||||||||||
Capitalized Interest and Allowance for Funds Used During Construction (AFUDC) | ||||||||||||
The Partnership records capitalized interest, which represents the cost of borrowed funds used to finance construction activities for operations where regulatory accounting is not applicable. The Partnership records AFUDC, which represents the cost of funds, including equity funds, applicable to regulated natural gas transmission plant under construction as permitted by FERC regulatory practices, in connection with the Partnership’s operations where regulatory accounting is applicable. Capitalized interest and the allowance for borrowed funds used during construction are recognized as a reduction to Interest expense and the allowance for equity funds used during construction is included in Miscellaneous other income, net within the Consolidated Statements of Income. The following table summarizes capitalized interest and the allowance for borrowed funds and allowance for equity funds used during construction (in millions): | ||||||||||||
For the Year Ended | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Capitalized interest and allowance for borrowed funds used during construction | $ | 6.4 | $ | 4.7 | $ | 2 | ||||||
Allowance for equity funds used during construction | 0.2 | 0.4 | 0.6 | |||||||||
Income Tax, Policy [Policy Text Block] | ' | |||||||||||
Income Taxes | ||||||||||||
The Partnership is not a taxable entity for federal income tax purposes. As such, it does not directly pay federal income tax. The Partnership’s taxable income or loss, which may vary substantially from the net income or loss reported in the Consolidated Statements of Income, is includable in the federal income tax returns of each partner. The aggregate difference in the basis of the Partnership’s net assets for financial and income tax purposes cannot be readily determined as the Partnership does not have access to the information about each partner’s tax attributes related to the Partnership. The subsidiaries of the Partnership directly incur some income-based state taxes which are presented in Income taxes on the Consolidated Statements of Income. | ||||||||||||
Note 14 contains more information regarding the Partnership’s income taxes. | ||||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | |||||||||||
Revenue Recognition | ||||||||||||
The maximum rates that may be charged by the majority of the Partnership's operating subsidiaries for their services are established through FERC’s cost-based rate-making process; however, rates charged by those operating subsidiaries may be less than those allowed by FERC. Revenues from transportation and storage services are recognized in the period the service is provided based on contractual terms and the related volumes transported or stored. In connection with some PAL and interruptible storage service agreements, cash is received at inception of the service period resulting in the recording of deferred revenues which are recognized in revenues over the period the services are provided. At December 31, 2013 and 2012, the Partnership had deferred revenues of $7.9 million and $17.3 million related to PAL and interruptible storage services and $4.6 million and $5.6 million related to a firm transportation agreement that was paid in advance. The deferred revenues related to PAL and interruptible storage services will be recognized in 2014 and 2015 and the deferred revenues related to the firm transportation agreement will be recognized through 2018. | ||||||||||||
Retained fuel is recognized in revenues at market prices in the month of retention for operations where regulatory accounting is not applicable. The related fuel consumed in providing transportation services is recorded in Fuel and transportation expenses at market prices in the month consumed. In some cases, customers may elect to pay cash for the cost of fuel used in providing transportation services instead of having fuel retained in-kind. Retained fuel included in Transportation on the Consolidated Statements of Income for the years ended December 31, 2013, 2012 and 2011 was $76.9 million, $71.8 million and $105.6 million. | ||||||||||||
In certain of the Partnership's operations, the Partnership has contractual retainage provisions in some of its storage contracts that provide for the Partnership to retain ownership of 0.5% of customer inventory volumes injected into storage wells. The contract allows the Partnership to sell the retainage volumes if commercially marketable volumes of the Partnership's retainage are on hand. The Partnership recognizes revenue for retainage volumes upon the physical sale of such volumes. | ||||||||||||
Under FERC regulations, certain revenues that the operating subsidiaries collect may be subject to possible refunds to their customers. Accordingly, during a rate case, estimates of rate refund liabilities are recorded considering regulatory proceedings, advice of counsel and estimated risk-adjusted total exposure, as well as other factors. At December 31, 2013 and 2012, there were no liabilities for any open rate case recorded on the Consolidated Balance Sheets. | ||||||||||||
Asset Retirement Obligations, Policy [Policy Text Block] | ' | |||||||||||
Asset Retirement Obligations | ||||||||||||
The accounting requirements for existing legal obligations associated with the future retirement of long-lived assets require entities to record the fair value of a liability for an asset retirement obligation in the period during which the liability is incurred. The liability is initially recognized at fair value and is increased with the passage of time as accretion expense is recorded, until the liability is ultimately settled. The accretion expense is included within Operation and maintenance costs within the Consolidated Statements of Income. An amount corresponding to the amount of the initial liability is capitalized as part of the carrying amount of the related long-lived asset and depreciated over the useful life of that asset. | ||||||||||||
Note 9 contains more information regarding the Partnership’s asset retirement obligations. | ||||||||||||
Environmental Costs, Policy [Policy Text Block] | ' | |||||||||||
Environmental Liabilities | ||||||||||||
The Partnership records environmental liabilities based on management’s estimate of the undiscounted future obligation for probable costs associated with environmental assessment and remediation of operating sites. These estimates are based on evaluations and discussions with counsel and operating personnel and the current facts and circumstances related to these environmental matters. | ||||||||||||
Note 5 contains more information regarding the Partnership’s environmental liabilities. | ||||||||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | |||||||||||
Defined Benefit Plans | ||||||||||||
The Partnership maintains certain postretirement benefit plans for certain employees. The Partnership funds these plans through periodic contributions which are invested until the benefits are paid out to the participants. The net benefit cost of the plan is recorded in the Consolidated Statements of Income. The Partnership records an asset or liability based on the overfunded or underfunded status of the plan. Any deferred amounts related to unrecognized gains and losses or changes in actuarial assumptions are recorded as either a regulatory asset or liability or recorded as a component of accumulated other comprehensive income (AOCI) until those gains or losses are recognized in the Consolidated Statements of Income. | ||||||||||||
Note 12 contains more information regarding the Partnership’s pension and postretirement benefit obligations. | ||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||||||||||
Unit-Based and Other Long-Term Compensation | ||||||||||||
The Partnership provides awards of phantom common units (Phantom Common Units) to certain employees under its Long-Term Incentive Plan (LTIP). The Partnership also provides to certain employees awards of unit appreciation rights (UARs) and long-term cash bonuses (Long-Term Cash Bonuses) under the Boardwalk Pipeline Partners Unit Appreciation Rights and Cash Bonus Plan. | ||||||||||||
The Partnership measures the cost of an award issued in exchange for employee services based on the grant-date fair value of the award, or the stated amount in the case of the Long-Term Cash Bonuses. All outstanding awards are either required or expected to be settled in cash and are classified as a liability until settlement. The unit-based compensation awards are remeasured each reporting period until the final amount of awards is determined. The related compensation expense, less applicable estimates of forfeitures, is recognized over the period that employees are required to provide services in exchange for the awards, usually the vesting period. | ||||||||||||
Note 12 contains additional information regarding the Partnership’s unit-based and other long-term compensation. | ||||||||||||
Partner Capital Accounts | ' | |||||||||||
Partner Capital Accounts | ||||||||||||
For purposes of maintaining capital accounts, items of income and loss of the Partnership are allocated among the partners each year, or portion thereof, in accordance with the partnership agreement. Generally, net income for each period is allocated among the partners based on their respective ownership interests after deducting any priority allocations in the form of cash distributions paid to the general partner as the holder of IDRs. | ||||||||||||
Derivatives, Policy [Policy Text Block] | ' | |||||||||||
Derivative Financial Instruments | ||||||||||||
The Partnership use futures, swaps, and option contracts (collectively, derivatives) to hedge exposure to various risks, including natural gas commodity and interest rate risk. The effective portion of the related unrealized gains and losses resulting from changes in fair values of the derivatives contracts designated as cash flow hedges are deferred as a component of AOCI. The deferred gains and losses are recognized in earnings when the hedged anticipated transactions affect earnings. Changes in fair value of derivatives that are not designated as cash flow hedges are recognized in earnings in the periods that those changes in fair value occur. | ||||||||||||
The changes in fair values of the derivatives designated as cash flow hedges are expected to, and do, have a high correlation to changes in value of the anticipated transactions. Each reporting period the Partnership measures the effectiveness of the cash flow hedge contracts. To the extent the changes in the fair values of the hedge contracts do not effectively offset the changes in the estimated cash flows of the anticipated transactions, the ineffective portion of the hedge contracts is currently recognized in earnings. If it becomes probable that the anticipated transactions will not occur, hedge accounting would be terminated and changes in the fair values of the associated derivative financial instruments would be recognized currently in earnings. The Partnership did not discontinue any cash flow hedges during the years ended December 31, 2013 and 2012. | ||||||||||||
The effective component of gains and losses resulting from changes in fair values of the derivatives designated as cash flow hedges are deferred as a component of AOCI. The deferred gains and losses associated with the anticipated operational sale of gas reported as current Gas stored underground are recognized in operating revenues when the anticipated transactions affect earnings. In situations where continued reporting of a loss in AOCI would result in recognition of a future loss on the combination of the derivative and the hedged transaction, the loss is required to be immediately recognized in earnings for the amount that is not expected to be recovered. No such losses were recognized in the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
Note 6 contains more information regarding the Partnership’s derivative financial instruments. |
Accounting_Policies_Tables
Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Summary of Capitalized Interest and Allowance for borrowed Funds | ' | |||||||||||
The following table summarizes capitalized interest and the allowance for borrowed funds and allowance for equity funds used during construction (in millions): | ||||||||||||
For the Year Ended | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Capitalized interest and allowance for borrowed funds used during construction | $ | 6.4 | $ | 4.7 | $ | 2 | ||||||
Allowance for equity funds used during construction | 0.2 | 0.4 | 0.6 | |||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||||||
The following unaudited pro forma results of operations assume that the acquisitions had been included in the Partnership's results of operations for the periods indicated and assuming that the acquisitions occurred on January 1, 2011. Such results are not necessarily indicative of the actual results of operations that would have been realized nor are they necessarily indicative of future results of operations. These pro forma results also do not reflect any cost savings, operating synergies, or revenue enhancements that the Partnership may achieve or the costs necessary to achieve those cost savings, operating synergies or revenue enhancements (dollars in millions): | ||||||||
Pro-Forma | ||||||||
Year ended December 31, | ||||||||
2012 | 2011 | |||||||
Revenues | $ | 1,240.90 | $ | 1,253.70 | ||||
Net Income | $ | 327 | $ | 253.5 | ||||
The pro forma information was adjusted for the following items: | ||||||||
• | Revenues and operating costs were based on actual results for the periods indicated, except that transaction costs related to the acquisitions of Louisiana Midstream and Petal were excluded; | |||||||
• | Interest expense was based upon the amount of borrowings outstanding and the average cost of debt; and | |||||||
• | Depreciation and amortization expense was calculated using PPE and intangible asset amounts as determined in the purchase price allocation and estimated useful lives. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Operating Leases of Lessee Disclosure [Table Text Block] | ' | |||
Lease Commitments | ||||
The Partnership has various operating lease commitments extending through the year 2019 generally covering office space and equipment rentals. Total lease expense for the years ended December 31, 2013, 2012 and 2011 was approximately $8.6 million, $6.4 million and $4.5 million. The following table summarizes minimum future commitments related to these items at December 31, 2013 (in millions): | ||||
2014 | $ | 5.3 | ||
2015 | 4.9 | |||
2016 | 4.8 | |||
2017 | 2.6 | |||
2018 | 1.4 | |||
Thereafter | 0.2 | |||
Total | $ | 19.2 | ||
Pipeline Capacity Agreements [Table Text Block] | ' | |||
Pipeline Capacity Agreements | ||||
The Partnership’s operating subsidiaries have entered into pipeline capacity agreements with third-party pipelines that allow the operating subsidiaries to transport gas to off-system markets on behalf of customers. The Partnership incurred expenses of $9.8 million, $9.1 million and $9.8 million related to pipeline capacity agreements for the years ended December 31, 2013, 2012 and 2011. The future commitments related to pipeline capacity agreements as of December 31, 2013, were (in millions): | ||||
2014 | $ | 10.9 | ||
2015 | 10.3 | |||
2016 | 9.3 | |||
2017 | 8.7 | |||
2018 | 4.7 | |||
Thereafter | — | |||
Total | $ | 43.9 | ||
Capital Lease [Table Text Block] | ' | |||
Capital Lease | ||||
In 2012, the Partnership entered into an agreement to construct and lease an office building in Owensboro, Kentucky. The construction of the building was completed and the Partnership took possession of the building in the third quarter 2013, at which time the Partnership recorded a capital lease asset and obligation of $10.5 million. The office building lease has a term of fifteen years with two twenty-year renewal options. Future commitments under this capital lease are as follows (in millions): | ||||
2014 | $ | 1 | ||
2015 | 1 | |||
2016 | 1 | |||
2017 | 1 | |||
2018 | 1 | |||
Thereafter | 10.6 | |||
Total minimum lease payments | 15.6 | |||
Less amounts representing interest | (5.2 | ) | ||
Present value of obligation under capital lease | 10.4 | |||
Less: current portion of obligations under capital lease | (0.4 | ) | ||
(recorded in other current liabilities) | ||||
Long-term obligations under capital lease | $ | 10 | ||
Amortization of the office building under the capital lease of $0.3 million is included in depreciation expense. As of December 31, 2013, assets recorded under the capital lease were $10.5 million and the accumulated amortization was $0.3 million. |
Fair_Value_Measurements_Deriva1
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | ' | |||||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | ' | |||||||||||||||||||||||
The table below identifies the Partnership's assets that were recorded at fair value at December 31, 2013. There were no liabilities recorded at fair value at December 31, 2013 (in millions): | ||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
31-Dec-13 | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs | Total Gains (losses) for the year ended | ||||||||||||||||||||
(Level 3) | 31-Dec-13 | |||||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||
Commodity contracts | $ | 0.5 | $— | $ | 0.5 | $— | ||||||||||||||||||
The table below identifies the Partnership's assets and liabilities that were recorded at fair value at December 31, 2012 (in millions): | ||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
December 31, | Quoted prices in active markets for identical assets | Significant other observable inputs | Significant unobservable inputs | Total Gains (losses) for the year ended | ||||||||||||||||||||
2012 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-12 | ||||||||||||||||||||
Recurring fair value measurements - Assets | ||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||
Commodity contracts | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||
Recurring fair value measurements - Liabilities | ||||||||||||||||||||||||
Derivatives | ||||||||||||||||||||||||
Commodity contracts | $ | 0.1 | $ | — | $ | 0.1 | $ | — | ||||||||||||||||
Nonrecurring fair value measurements - Assets | ||||||||||||||||||||||||
Assets to be abandoned (1) | $ | — | $ | — | $ | — | $ | — | $ | (3.5 | ) | |||||||||||||
Assets held for sale (2) | — | — | — | — | (2.8 | ) | ||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | (6.3 | ) | ||||||||||||||
-1 | In 2012, the Partnership determined that it would retire a number of small-diameter pipeline assets and recorded an asset impairment charge of $5.2 million comprised of the carrying amount of the assets and amounts related to asset retirement obligations for the assets. Additionally, in 2012, the Partnership recorded an asset impairment charge when it determined that it would retire a turbine associated with one of its compressor stations which had a carrying amount of $1.1 million. | |||||||||||||||||||||||
-2 | In 2012, the Partnership recognized a $2.8 million impairment charge related to its Owensboro, Kentucky, office building. The office building was sold for an amount that equaled its carrying amount of $3.0 million in the third quarter 2012. |
Fair_Value_Measurements_Deriva2
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Derivatives (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||||||||||||||
The fair value of derivatives existing as of December 31, 2013 and 2012, were included in the following captions in the Consolidated Balance Sheets (in millions): | ||||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Balance sheet | Fair | Balance | Fair | Balance sheet | Fair | Balance sheet | Fair | |||||||||||||||||||||
location | Value | sheet location | Value | location | Value | location | Value | |||||||||||||||||||||
Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||
Commodity contracts | Other current assets | $ | 0.5 | Other current assets | $ | 0.1 | Other current liabilities | $ | — | Other current liabilities | $ | 0.1 | ||||||||||||||||
Other non-current assets | $ | — | Other non-current assets | $ | — | Other non-current liabilities | $ | — | Other non-current liabilities | $ | — | |||||||||||||||||
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2013, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | 1.6 | Operating revenues | $ | — | N/A | $ | — | ||||||||||||||||||||
Net gain on disposal of operating assets | 1.2 | N/A | — | |||||||||||||||||||||||||
Interest rate contracts (1) | — | Interest expense | (2.4 | ) | N/A | — | ||||||||||||||||||||||
$ | 1.6 | $ | (1.2 | ) | $ | — | ||||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in current and previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2012, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | — | Operating revenues (2) | $ | 0.1 | N/A | $ | — | ||||||||||||||||||||
Interest rate contracts (1) | (7.1 | ) | Interest expense | (2.1 | ) | N/A | — | |||||||||||||||||||||
$ | (7.1 | ) | $ | (2.0 | ) | $ | — | |||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
-2 | $0.1 million was recorded in Other revenues. | |||||||||||||||||||||||||||
The amount of gains and losses from derivatives recognized in the Consolidated Statements of Income for the year ended December 31, 2011, were (in millions): | ||||||||||||||||||||||||||||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | Location of gain/(loss) reclassified from AOCI into income (effective portion) | Amount of gain/(loss) reclassified from AOCI into income (effective portion) | Location of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | Amount of gain/(loss) recognized in income on derivative (in- effective portion and amount excluded from effectiveness testing) | ||||||||||||||||||||||||
Derivatives in Cash Flow Hedging Relationship | ||||||||||||||||||||||||||||
Commodity contracts | $ | 3.1 | Operating revenues (2) | $ | 1.5 | N/A | $ | — | ||||||||||||||||||||
Interest rate contracts (1) | — | Interest expense | (1.7 | ) | N/A | — | ||||||||||||||||||||||
$ | 3.1 | $ | (0.2 | ) | $ | — | ||||||||||||||||||||||
-1 | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | |||||||||||||||||||||||||||
-2 | $1.1 million was recorded in Transportation revenues and $0.4 million was recorded in Other revenues. |
Fair_Value_Measurements_Deriva3
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Fair Value, by Balance Sheet Grouping (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
The carrying amount and estimated fair values of the Partnership's financial assets and liabilities which are not recorded at fair value on the Consolidated Balance Sheets as of December 31, 2013, and 2012, were as follows (in millions): | |||||||||||||||||||||
As of December 31, 2013 | Estimated Fair Value | ||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents | $ | 28.5 | $ | 28.5 | $ | — | $ | — | $ | 28.5 | |||||||||||
Financial Liabilities | |||||||||||||||||||||
Long-term debt | $ | 3,414.40 | (1) | $ | — | $ | 3,573.80 | $ | — | $ | 3,573.80 | ||||||||||
(1) The carrying amount of long-term debt excludes a $10.0 million capital lease obligation. | |||||||||||||||||||||
As of December 31, 2012 | Estimated Fair Value | ||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents | $ | 3.9 | $ | 3.9 | $ | — | $ | — | $ | 3.9 | |||||||||||
Financial Liabilities | |||||||||||||||||||||
Long-term debt | $ | 3,539.20 | $ | — | $ | 3,841.10 | $ | — | $ | 3,841.10 | |||||||||||
Fair_Value_Measurements_Deriva4
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Accumulated Other Comprehensive Income (Loss) Net of Tax (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Consolidated Balance Sheets for the year ended December 31, 2013 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, January 1, 2013 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) | |||
Gain recorded in accumulated other comprehensive loss | 1.6 | — | 1.6 | |||||||||
Reclassifications: | ||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||
Other operating revenues | (0.1 | ) | — | (0.1 | ) | |||||||
Disposal of operating assets | (1.2 | ) | — | (1.2 | ) | |||||||
Interest expense | 2.4 | — | 2.4 | |||||||||
Pension and other postretirement benefit costs | — | 0.7 | 0.7 | |||||||||
Ending balance, December 31, 2013 | $ | (12.7 | ) | $ | (51.1 | ) | $ | (63.8 | ) | |||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Consolidated Balance Sheets for the year ended December 31, 2012 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, January 1, 2012 | $ | (10.4 | ) | $ | (39.0 | ) | $ | (49.4 | ) | |||
Loss recorded in accumulated other comprehensive loss | (7.1 | ) | — | (7.1 | ) | |||||||
Reclassifications: | ||||||||||||
Other operating revenues | (0.1 | ) | — | (0.1 | ) | |||||||
Interest expense | 2.1 | — | 2.1 | |||||||||
Pension and other postretirement benefit costs | — | (12.8 | ) | (12.8 | ) | |||||||
Ending balance, December 31, 2012 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||||
The following table presents the Partnership’s PPE as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||
Category | 2013 Class | Weighted-Average | 2012 Class | Weighted-Average | ||||||||||||
Amount | Useful Lives | Amount | Useful Lives | |||||||||||||
(Years) | (Years) | |||||||||||||||
Depreciable plant: | ||||||||||||||||
Transmission | $ | 7,067.70 | 37 | $ | 6,908.30 | 37 | ||||||||||
Storage | 749.7 | 38 | 732.3 | 38 | ||||||||||||
Gathering | 326 | 27 | 151 | 21 | ||||||||||||
General | 160.3 | 13 | 145.5 | 12 | ||||||||||||
Rights of way and other | 111.1 | 35 | 105.2 | 33 | ||||||||||||
Total utility depreciable plant | 8,414.80 | 36 | 8,042.30 | 36 | ||||||||||||
Non-depreciable: | ||||||||||||||||
Construction work in progress | 174.5 | 258 | ||||||||||||||
Storage | 90.8 | 80 | ||||||||||||||
Land | 26.9 | 26.7 | ||||||||||||||
Other | 16.3 | 16.3 | ||||||||||||||
Total non-depreciable assets | 308.5 | 381 | ||||||||||||||
Total PPE | 8,723.30 | 8,423.30 | ||||||||||||||
Less: accumulated depreciation | 1,489.20 | 1,234.10 | ||||||||||||||
Total PPE, net | $ | 7,234.10 | $ | 7,189.20 | ||||||||||||
The non-depreciable assets were not included in the calculation of the weighted-average useful lives. | ||||||||||||||||
Gross PPE Investments and Related Accumulated Depreciation | ' | |||||||||||||||
The following table presents the gross PPE investment and related accumulated depreciation for the Partnership’s undivided interests as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Gross PPE | Accumulated Depreciation | Gross PPE | Accumulated Depreciation | |||||||||||||
Investment | Investment | |||||||||||||||
Bistineau storage | $ | 55.8 | $ | 15.1 | $ | 55.7 | $ | 13.4 | ||||||||
Mobile Bay Pipeline | 11.1 | 3.1 | 11.1 | 2.8 | ||||||||||||
NGL pipelines and facilities | 34.8 | 1.3 | 34.8 | 0.2 | ||||||||||||
Offshore and other assets | 19 | 13.4 | 19 | 13 | ||||||||||||
Total | $ | 120.7 | $ | 32.9 | $ | 120.6 | $ | 29.4 | ||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||
Changes in the gross amounts of goodwill for the Partnership are summarized as follows (in millions): | |||||||
Balance as of January 1, 2012 | $ | 215 | |||||
Acquisition of Louisiana Midstream(1) | 52 | ||||||
Balance as of December 31, 2012 | $ | 267 | |||||
Goodwill impairment charge | (51.5 | ) | |||||
Balance as of December 31, 2013 | $ | 215.5 | |||||
(1) Refer to Note 4 for further information on the acquisition of Louisiana Midstream. | |||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||
The following table contains information regarding the Partnership's intangible assets, which includes customer relationships acquired as part of the purchase of Louisiana Midstream and Petal (in millions): | |||||||
December 31, | |||||||
2013 | 2012 | ||||||
Gross carrying amount | $ | 39.4 | $ | 39.4 | |||
Accumulated amortization | (2.1 | ) | (0.8 | ) | |||
Net carrying amount | $ | 37.3 | $ | 38.6 | |||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||
For the year ended December 31, 2013 and 2012, amortization expense for intangible assets totaled $1.3 million and $0.8 million and was recorded in Depreciation and amortization on the Consolidated Statements of Income. Amortization expense for the year ended December 31, 2011, was less than $0.1 million. Amortization expense for the next five years and in total thereafter as of December 31, 2013, is expected to be as follows (in millions): | |||||||
2014 | $ | 1.3 | |||||
2015 | 1.3 | ||||||
2016 | 1.3 | ||||||
2017 | 1.3 | ||||||
2018 | 1.3 | ||||||
Thereafter | 30.8 | ||||||
$ | 37.3 | ||||||
Asset_Retirement_Obligations_A1
Asset Retirement Obligations (ARO) (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Asset Retirement Obligation | ' | |||||||
The following table summarizes the aggregate carrying amount of the Partnership’s ARO (in millions): | ||||||||
2013 | 2012 | |||||||
Balance at beginning of year | $ | 39 | $ | 20 | ||||
Liabilities recorded | 8 | 4.9 | ||||||
Liabilities settled | (1.7 | ) | (0.6 | ) | ||||
Liabilities incurred from assets acquired (1) | — | 13.6 | ||||||
Accretion expense | 1.8 | 1.1 | ||||||
Balance at end of year | 47.1 | 39 | ||||||
Less: Current portion of asset retirement obligations | (7.8 | ) | (5.8 | ) | ||||
Long-term asset retirement obligations | $ | 39.3 | $ | 33.2 | ||||
1) | Represents the fair value of the asset retirement obligations assumed through the acquisition of Louisiana Midstream. |
Regulatory_Assets_and_Liabilit1
Regulatory Assets and Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Regulatory Assets and Liabilities | ' | |||||||
None of the regulatory assets shown below were earning a return as of December 31, 2013 and 2012 (in millions): | ||||||||
2013 | 2012 | |||||||
Regulatory Assets: | ||||||||
Pension | $ | 10.6 | $ | 10.6 | ||||
Tax effect of AFUDC equity | 3.9 | 4.3 | ||||||
Unamortized debt expense and premium on reacquired debt | 11.5 | 13.5 | ||||||
Fuel tracker | 0.8 | 3.3 | ||||||
Total regulatory assets | $ | 26.8 | $ | 31.7 | ||||
Regulatory Liabilities: | ||||||||
Cashout and fuel tracker | $ | 1.1 | $ | 0.9 | ||||
Provision for other asset retirement | 57.6 | 57.4 | ||||||
Unamortized discount on long-term debt | (1.8 | ) | (2.2 | ) | ||||
Postretirement benefits other than pension | 32.7 | 29.3 | ||||||
Other | — | 0.1 | ||||||
Total regulatory liabilities | $ | 89.6 | $ | 85.5 | ||||
Financing_Tables
Financing (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||||||||||||||||
The following table presents all long-term debt issues outstanding as of December 31, 2013 and 2012 (in millions): | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Notes and Debentures: | ||||||||||||||||||||||
Boardwalk Pipelines | ||||||||||||||||||||||
5.88% Notes due 2016 | $ | 250 | $ | 250 | ||||||||||||||||||
5.50% Notes due 2017 | 300 | 300 | ||||||||||||||||||||
5.20% Notes due 2018 | 185 | 185 | ||||||||||||||||||||
5.75% Notes due 2019 | 350 | 350 | ||||||||||||||||||||
3.375% Notes due 2023 | 300 | 300 | ||||||||||||||||||||
Gulf South | ||||||||||||||||||||||
5.05% Notes due 2015 | 275 | 275 | ||||||||||||||||||||
6.30% Notes due 2017 | 275 | 275 | ||||||||||||||||||||
4.00% Notes due 2022 | 300 | 300 | ||||||||||||||||||||
Texas Gas | ||||||||||||||||||||||
4.60% Notes due 2015 | 250 | 250 | ||||||||||||||||||||
4.50% Notes due 2021 | 440 | 440 | ||||||||||||||||||||
7.25% Debentures due 2027 | 100 | 100 | ||||||||||||||||||||
Total notes and debentures | 3,025.00 | 3,025.00 | ||||||||||||||||||||
Term Loan: | 225 | 225 | ||||||||||||||||||||
Revolving Credit Facility: | ||||||||||||||||||||||
Boardwalk Pipelines | — | — | ||||||||||||||||||||
Gulf Crossing | 175 | 302 | ||||||||||||||||||||
Gulf South | — | — | ||||||||||||||||||||
Texas Gas | — | — | ||||||||||||||||||||
Total revolving credit facility | 175 | 302 | ||||||||||||||||||||
Capital lease: | 10 | — | ||||||||||||||||||||
3,435.00 | 3,552.00 | |||||||||||||||||||||
Less: unamortized debt discount | (10.6 | ) | (12.8 | ) | ||||||||||||||||||
Total Long-Term Debt and Capital Lease Obligation | $ | 3,424.40 | $ | 3,539.20 | ||||||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||||||||||||||||
Maturities of the Partnership’s long-term debt for the next five years and in total thereafter are as follows (in millions): | ||||||||||||||||||||||
2014 | $ | — | ||||||||||||||||||||
2015 | 525 | |||||||||||||||||||||
2016 | 250 | |||||||||||||||||||||
2017 | 975 | |||||||||||||||||||||
2018 | 185 | |||||||||||||||||||||
Thereafter | 1,490.00 | |||||||||||||||||||||
Total long-term debt | $ | 3,425.00 | ||||||||||||||||||||
Debt Issuances | ' | |||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Partnership completed the following debt issuances (in millions, except interest rates): | ||||||||||||||||||||||
Date of | Issuing Subsidiary | Amount of | Purchaser | Net | Interest | Maturity Date | Interest Payable | |||||||||||||||
Issuance | Issuance | Discounts | Proceeds | Rate | ||||||||||||||||||
and | ||||||||||||||||||||||
Expenses | ||||||||||||||||||||||
Nov-12 | Boardwalk Pipelines | $ | 300 | $ | 2.4 | $ | 297.6 | (1) | 3.375 | % | February 1, 2023 | February 1 and August 1 | ||||||||||
Jun-12 | Gulf South | $ | 300 | $ | 3.5 | $ | 296.5 | (2) | 4 | % | June 15, 2022 | June 15 and December 15 | ||||||||||
January and | ||||||||||||||||||||||
Jun-11 | Texas Gas | $ | 440 | $ | 2.4 | $ | 437.6 | (3) | 4.5 | % | February 1, 2021 | February 1 and August 1 | ||||||||||
-1 | The net proceeds of this offering were used to reduce borrowings under the Partnership’s revolving credit facility and Subordinated Loan. | |||||||||||||||||||||
-2 | The net proceeds of this offering were used to reduce borrowings under the Partnership’s revolving credit facility and to redeem $225.0 million of Gulf South's 5.75% notes due August 2012 (2012 Notes) discussed below. | |||||||||||||||||||||
-3 | The net proceeds of these offerings were used to reduce borrowings under the Partnership’s revolving credit facility and to redeem $250.0 million of Texas Gas’ 5.50% notes due April 2013 (2013 Notes) discussed below. | |||||||||||||||||||||
Equity Issuance | ' | |||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Partnership completed the following issuances and sales of common units (in millions, except the issuance price): | ||||||||||||||||||||||
Month of Offering | Number of | Issuance | Less Underwriting Discounts and Expenses | Net Proceeds | Common Units Outstanding | Common Units Held by the Public | ||||||||||||||||
Common Units | Price | (including General Partner Contribution) | After Offering | After Offering | ||||||||||||||||||
May-13 | 12.7 | $30.12 | $12.30 | $376.50 | 220.3 | 117.6 | ||||||||||||||||
October 2012 (1) | 11.2 | $26.99 | $10.40 | $297.60 | 207.7 | 105 | ||||||||||||||||
August 2012 (1) | 11.6 | $27.80 | $11.20 | $317.90 | 196.5 | 93.8 | ||||||||||||||||
February 2012 (1) | 9.2 | $27.55 | $8.50 | $250.20 | 184.9 | 82.2 | ||||||||||||||||
June 1, 2011 (1) | 6 | $29.33 | $6.00 | $173.60 | 175.7 | 73 | ||||||||||||||||
-1 | BPHC waived the prepayment provisions under the Subordinated Loans that would have required prepayment of the Subordinated Loans as a result of these issuances. | |||||||||||||||||||||
Summary of changes in Partnership'Capital | ' | |||||||||||||||||||||
The following table summarizes changes in the Partnership’s common and class B units since January 1, 2011 (in millions): | ||||||||||||||||||||||
Common | Class B | |||||||||||||||||||||
Units | Units(1) | |||||||||||||||||||||
Balance, January 1, 2011 | 169.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 6 | — | ||||||||||||||||||||
Balance, December 31, 2011 | 175.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 32 | — | ||||||||||||||||||||
Balance, December 31, 2012 | 207.7 | 22.9 | ||||||||||||||||||||
Common units issued in connection with underwritten offerings | 12.7 | — | ||||||||||||||||||||
Conversion of class B units | 22.9 | (22.9 | ) | |||||||||||||||||||
Balance, December 31, 2013 | 243.3 | — | ||||||||||||||||||||
-1 | On October 9, 2013, all of the 22.9 million class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. |
Employee_Benefits_Tables
Employee Benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Employee Benefits [Abstract] | ' | ||||||||||||||||||||||||||
Projected Benefit Obligation, Fair Value of Assets, Funded Status and the Amounts Not Yet Recognized As Components of Net Periodic Pension and Postretirement Benefits Cost [Table Text Block] | ' | ||||||||||||||||||||||||||
Projected Benefit Obligation, Fair Value of Assets and Funded Status | |||||||||||||||||||||||||||
The projected benefit obligation, fair value of assets, funded status and the amounts not yet recognized as components of net periodic pension and postretirement benefits cost for the Retirement Plans and PBOP at December 31, 2013 and 2012, were as follows (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||||||||||
Benefit obligation at beginning of period | $ | 152.5 | $ | 140.2 | $ | 59.5 | $ | 54 | |||||||||||||||||||
Service cost | 3.9 | 4 | 0.5 | 0.5 | |||||||||||||||||||||||
Interest cost | 5 | 5.8 | 2.1 | 2.4 | |||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.8 | 0.8 | |||||||||||||||||||||||
Actuarial loss (gain) | (1.2 | ) | 9.4 | (8.3 | ) | 5.2 | |||||||||||||||||||||
Benefits paid | (0.4 | ) | (6.9 | ) | (4.6 | ) | (3.4 | ) | |||||||||||||||||||
Settlement charge | (11.3 | ) | — | — | — | ||||||||||||||||||||||
Benefit obligation at end of period | $ | 148.5 | $ | 152.5 | $ | 50 | $ | 59.5 | |||||||||||||||||||
Change in plan assets: | |||||||||||||||||||||||||||
Fair value of plan assets at beginning of period | $ | 125.7 | $ | 112.9 | $ | 86.7 | $ | 81.8 | |||||||||||||||||||
Actual return on plan assets | 14.4 | 12.2 | (2.2 | ) | 7.3 | ||||||||||||||||||||||
Benefits paid | (0.4 | ) | (6.9 | ) | (4.6 | ) | (3.4 | ) | |||||||||||||||||||
Settlement | (11.3 | ) | — | — | — | ||||||||||||||||||||||
Company contributions | 3 | 7.5 | 0.1 | 0.2 | |||||||||||||||||||||||
Plan participants’ contributions | — | — | 0.8 | 0.8 | |||||||||||||||||||||||
Fair value of plan assets at end of period | $ | 131.4 | $ | 125.7 | $ | 80.8 | $ | 86.7 | |||||||||||||||||||
Funded status | $ | (17.1 | ) | $ | (26.8 | ) | $ | 30.8 | $ | 27.2 | |||||||||||||||||
Items not recognized as components of net periodic cost: | |||||||||||||||||||||||||||
Prior service cost (credit) | $ | — | $ | 0.1 | $ | (16.4 | ) | $ | (24.2 | ) | |||||||||||||||||
Net actuarial loss | 24.4 | 34.7 | 10.6 | 12.2 | |||||||||||||||||||||||
Total | $ | 24.4 | $ | 34.8 | $ | (5.8 | ) | $ | (12.0 | ) | |||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||||
At December 31, 2013 and 2012, the following aggregate information relates only to the underfunded plans (in millions): | |||||||||||||||||||||||||||
Retirement Plans | |||||||||||||||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Projected benefit obligation | $ | 148.5 | $ | 152.5 | |||||||||||||||||||||||
Accumulated benefit obligation | 138.4 | 139.3 | |||||||||||||||||||||||||
Fair value of plan assets | 131.4 | 125.7 | |||||||||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||||||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the years ended December 31, 2013, 2012 and 2011 were as follows (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Service cost | $ | 3.9 | $ | 4 | $ | 3.9 | $ | 0.5 | $ | 0.5 | $ | 0.4 | |||||||||||||||
Interest cost | 5 | 5.8 | 6.4 | 2.1 | 2.4 | 2.6 | |||||||||||||||||||||
Expected return on plan assets | (9.1 | ) | (8.6 | ) | (8.0 | ) | (4.5 | ) | (4.3 | ) | (3.3 | ) | |||||||||||||||
Amortization of prior service credit | — | — | — | (7.8 | ) | (7.8 | ) | (7.8 | ) | ||||||||||||||||||
Amortization of unrecognized net loss | 2.1 | 2.1 | 1.2 | — | 0.1 | 0.7 | |||||||||||||||||||||
Settlement charge | 1.7 | — | — | — | — | — | |||||||||||||||||||||
Regulatory asset decrease | — | — | — | — | — | 4.2 | |||||||||||||||||||||
Net periodic benefit cost | $ | 3.6 | $ | 3.3 | $ | 3.5 | $ | (9.7 | ) | $ | (9.1 | ) | $ | (3.2 | ) | ||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table shows benefit payments, which reflect expected future service, as appropriate, which are expected to be paid for both the Retirement Plans and PBOP (in millions): | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
2014 | $ | 13.1 | $ | 3.2 | |||||||||||||||||||||||
2015 | 10.4 | 3.2 | |||||||||||||||||||||||||
2016 | 15.8 | 3.2 | |||||||||||||||||||||||||
2017 | 16.2 | 3.2 | |||||||||||||||||||||||||
2018 | 15.2 | 3.3 | |||||||||||||||||||||||||
2019-2022 | 74.4 | 16.4 | |||||||||||||||||||||||||
Weighted-Average Assumptions Used to Determine Benefit Obligations | ' | ||||||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations for the years ended December 31, 2013 and 2012, were as follows: | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||
Pension | SRP | Pension | SRP | ||||||||||||||||||||||||
Discount rate | 4 | % | 4.25 | % | 3.25 | % | 3.5 | % | 4.5 | % | 3.9 | % | |||||||||||||||
Expected return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 5.3 | % | 5.3 | % | |||||||||||||||
Rate of compensation increase | 3.5 | % | 3.5 | % | 3.5 | % | 3.5 | % | — | — | |||||||||||||||||
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit cost for the periods indicated were as follows: | |||||||||||||||||||||||||||
Retirement Plans | PBOP | ||||||||||||||||||||||||||
For the Year Ended | For the Year Ended | ||||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Pension | SRP | Pension | SRP | Pension | SRP | ||||||||||||||||||||||
Discount rate | 3.25%/4.10% (1) | 3.5 | % | 4.25 | % | 4.25 | % | 5 | % | 5 | % | 3.9 | % | 4.7 | % | 5.38 | % | ||||||||||
Expected return on plan assets | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 7.5 | % | 5.3 | % | 5.3 | % | 4.64 | % | |||||||||
Rate of compensation increase | 3.5 | % | 3.5 | % | 4 | % | 4 | % | 4 | % | 4 | % | — | — | — | ||||||||||||
(1) Pension expense was remeasured at September 30, 2013, to reflect a settlement. | |||||||||||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for PBOP. A one-percentage-point change in assumed trend rates for health care costs would have had the following effects on amounts reported for the year ended December 31, 2013 (in millions): | |||||||||||||||||||||||||||
Effect of 1% Increase: | 2013 | ||||||||||||||||||||||||||
Benefit obligation at end of year | $ | 1.9 | |||||||||||||||||||||||||
Total of service and interest costs for year | 0.1 | ||||||||||||||||||||||||||
Effect of 1% Decrease: | |||||||||||||||||||||||||||
Benefit obligation at end of year | $ | (1.6 | ) | ||||||||||||||||||||||||
Total of service and interest costs for year | (0.1 | ) | |||||||||||||||||||||||||
Fair Values of Pension Plan Assets By Asset Class Master Trust [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the Master Trust’s investments measured at fair value on a recurring basis at December 31, 2013 (in millions): | |||||||||||||||||||||||||||
Master Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Equity securities | $ | 44.6 | $ | — | $ | — | $ | 44.6 | |||||||||||||||||||
Short-term investments | 4.4 | — | — | 4.4 | |||||||||||||||||||||||
Other assets | — | 3.4 | — | 3.4 | |||||||||||||||||||||||
Fixed income mutual funds | 100.1 | 0.3 | — | 100.4 | |||||||||||||||||||||||
Asset-backed securities | — | 5.8 | — | 5.8 | |||||||||||||||||||||||
Limited partnerships : | |||||||||||||||||||||||||||
Hedge funds | — | 57.5 | 29.7 | 87.2 | |||||||||||||||||||||||
Private equity | — | — | 11.7 | 11.7 | |||||||||||||||||||||||
Total investments | $ | 149.1 | $ | 67 | $ | 41.4 | $ | 257.5 | |||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the Master Trust’s investments measured at fair value on a recurring basis at December 31, 2012 (in millions): | |||||||||||||||||||||||||||
Master Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Equity securities | $ | 37.2 | $ | — | $ | — | $ | 37.2 | |||||||||||||||||||
Short-term investments | 4.2 | — | — | 4.2 | |||||||||||||||||||||||
Fixed income mutual funds | 110.3 | — | — | 110.3 | |||||||||||||||||||||||
Asset-backed securities | — | 3 | — | 3 | |||||||||||||||||||||||
Limited partnerships: | |||||||||||||||||||||||||||
Hedge funds | — | 53.3 | 32 | 85.3 | |||||||||||||||||||||||
Private equity | — | — | 7.1 | 7.1 | |||||||||||||||||||||||
Total investments | $ | 151.7 | $ | 56.3 | $ | 39.1 | $ | 247.1 | |||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs Master Trust [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table presents a reconciliation of the beginning and ending balances of the fair value measurements using significant unobservable inputs (Level 3) for the Master Trust (in millions): | |||||||||||||||||||||||||||
Limited | Limited | ||||||||||||||||||||||||||
Partnerships: | Partnerships: | ||||||||||||||||||||||||||
Hedge Funds | Private Equity | ||||||||||||||||||||||||||
Balance, January 1, 2012 | $ | 25.5 | $ | 7.4 | |||||||||||||||||||||||
Actual return on assets still held | 3.8 | 0.5 | |||||||||||||||||||||||||
Actual return on assets sold | (0.1 | ) | 0.5 | ||||||||||||||||||||||||
Purchases, sales and settlements | 2.8 | (1.3 | ) | ||||||||||||||||||||||||
Net transfers in/(out) of Level 3 | — | — | |||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 32 | $ | 7.1 | |||||||||||||||||||||||
Actual return on assets still held | 6.2 | 2.1 | |||||||||||||||||||||||||
Actual return on assets sold | (0.3 | ) | (0.3 | ) | |||||||||||||||||||||||
Purchases, sales and settlements | (8.2 | ) | 2.8 | ||||||||||||||||||||||||
Net transfers in/(out) of Level 3 | — | — | |||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 29.7 | $ | 11.7 | |||||||||||||||||||||||
Fair Values of Pension Plan Assets By Asset Class [Table Text Block] | ' | ||||||||||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the PBOP trust investments measured at fair value on a recurring basis at December 31, 2013 (in millions): | |||||||||||||||||||||||||||
PBOP Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Short-term investments | $ | 2.7 | $ | — | $ | — | $ | 2.7 | |||||||||||||||||||
Fixed income mutual funds | 2.8 | — | — | 2.8 | |||||||||||||||||||||||
Asset-backed securities | — | 19.8 | — | 19.8 | |||||||||||||||||||||||
Corporate and other bonds | — | 16.9 | — | 16.9 | |||||||||||||||||||||||
Tax exempt securities | — | 38.6 | — | 38.6 | |||||||||||||||||||||||
Total investments | $ | 5.5 | $ | 75.3 | $ | — | $ | 80.8 | |||||||||||||||||||
The following table sets forth by level within the fair value hierarchy a summary of the PBOP trust investments measured at fair value on a recurring basis at December 31, 2012 (in millions): | |||||||||||||||||||||||||||
PBOP Trust Assets | |||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Short-term investments | $ | 3.3 | $ | — | $ | — | $ | 3.3 | |||||||||||||||||||
Fixed income mutual funds | 3.8 | — | — | 3.8 | |||||||||||||||||||||||
Asset-backed securities | — | 21 | — | 21 | |||||||||||||||||||||||
Corporate and other bonds | — | 20.7 | — | 20.7 | |||||||||||||||||||||||
Tax exempt securities | — | 37.9 | — | 37.9 | |||||||||||||||||||||||
Total investments | $ | 7.1 | $ | 79.6 | $ | — | $ | 86.7 | |||||||||||||||||||
There were no Level 3 assets at December 31, 2013 and 2012. | |||||||||||||||||||||||||||
Disclosure of Share Based Compensation Arrangements by Share Based Payment Award LTIP [Table Text Block] | ' | ||||||||||||||||||||||||||
A summary of the status of the Phantom Common Units granted under the Partnership’s LTIP as of December 31, 2013 and 2012, and changes during the years ended December 31, 2013 and 2012, is presented below: | |||||||||||||||||||||||||||
Phantom Common Units | Total Fair Value | Weighted-Average Vesting Period | |||||||||||||||||||||||||
(in millions) | (in years) | ||||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 218,089 | (2) | $ | 5.3 | 2.9 | ||||||||||||||||||||||
Granted | 22,814 | 0.6 | 2.4 | ||||||||||||||||||||||||
Paid | (24,270 | ) | (0.8 | ) | — | ||||||||||||||||||||||
Forfeited | (24,038 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 192,595 | 4.7 | 2 | ||||||||||||||||||||||||
Granted | 220,808 | 5.7 | 2.8 | ||||||||||||||||||||||||
Forfeited | (33,355 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2013 (1) | 380,048 | $ | 10.9 | 1.5 | |||||||||||||||||||||||
-1 | Represents fair value and remaining weighted-average vesting period of outstanding awards at the end of the period. | ||||||||||||||||||||||||||
-2 | Includes 24,270 of Phantom Common Units with a total value of $0.8 million which vested on December 16, 2011 and were paid in cash on January 20, 2012. | ||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||||||||||||||||||||
A summary of the outstanding UARs granted under the Partnership’s UAR and Cash Bonus Plan as of December 31, 2013 and 2012, and changes during 2013 and 2012 is presented below: | |||||||||||||||||||||||||||
UARs | Weighted- Average | Total Fair Value | Weighted-Average Vesting Period | ||||||||||||||||||||||||
Exercise Price | (in millions) | (in years) | |||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 656,517 | $ | 29.28 | $ | 3 | 2.3 | |||||||||||||||||||||
Forfeited | (83,638 | ) | |||||||||||||||||||||||||
Granted (2) | 6,786 | 26.46 | — | 2.7 | |||||||||||||||||||||||
Granted (3) | 26,082 | 27.9 | 0.1 | 2.2 | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 605,747 | 29.18 | 1.7 | 1.4 | |||||||||||||||||||||||
Paid | (359,148 | ) | |||||||||||||||||||||||||
Forfeited | (61,400 | ) | |||||||||||||||||||||||||
Granted (4) | 293,809 | 27.57 | 1.8 | 2.8 | |||||||||||||||||||||||
Outstanding at December 31, 2013 (1) | 479,008 | $ | 27.47 | $ | 1.9 | 1.5 | |||||||||||||||||||||
-1 | Represents weighted-average exercise price, remaining weighted-average vesting period and total fair value of outstanding awards at the end of the period. | ||||||||||||||||||||||||||
-2 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $26.46, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on March 31, 2012. | ||||||||||||||||||||||||||
-3 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.90, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on September 30, 2012. | ||||||||||||||||||||||||||
-4 | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.57, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on February 7, 2013. | ||||||||||||||||||||||||||
Valuation Assumptions Under Unit Appreciation Rights [Table Text Block] | ' | ||||||||||||||||||||||||||
The fair value of the UARs were based on the computed value of a call on the Partnership’s common units at the exercise price. The following assumptions were used as inputs to the Black-Scholes valuation model for grants made during 2013 and 2012: | |||||||||||||||||||||||||||
Grant Date Assumptions for Grants Made in 2013 | Grant Date Assumptions for Grants Made in 2012 | ||||||||||||||||||||||||||
Expected life (years) | 2.8 | 2.2 - 2.7 | |||||||||||||||||||||||||
Risk free interest rate (1) | 0.35% | 0.29% - 0.47% | |||||||||||||||||||||||||
Expected volatility (2) | 32% | 31% - 34% | |||||||||||||||||||||||||
-1 | Based on the U.S. Treasury yield curve corresponding to the remaining life of the UAR. | ||||||||||||||||||||||||||
-2 | Based on the historical volatility of the Partnership’s common units. | ||||||||||||||||||||||||||
Disclosure of Share Based Compensation Arrangements By Share Based Payment Award SLTIP [Table Text Block] | ' | ||||||||||||||||||||||||||
A summary of the status of the Partnership’s SLTIP as of December 31, 2013 and 2012, and changes during the years ended December 31, 2013 and 2012, is presented below: | |||||||||||||||||||||||||||
Phantom GP Units | Total Fair Value | Weighted-Average Vesting Period | |||||||||||||||||||||||||
(in millions) | (in years) | ||||||||||||||||||||||||||
Outstanding at January 1, 2012 (1) | 262.5 | $ | 12.4 | 0.8 | |||||||||||||||||||||||
Paid | (116.5 | ) | (5.0 | ) | — | ||||||||||||||||||||||
Forfeited | (1.0 | ) | — | — | |||||||||||||||||||||||
Outstanding at December 31, 2012 (1) | 145 | 6.9 | 0.2 | ||||||||||||||||||||||||
Paid | (145.0 | ) | (7.2 | ) | — | ||||||||||||||||||||||
Outstanding at December 31, 2013 | — | $ | — | — | |||||||||||||||||||||||
-1 | Represents fair value and remaining weighted-average vesting period of outstanding awards at the end of the period. |
Cash_Distributions_and_Net_Inc1
Cash Distributions and Net Income per Unit (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Partners' Capital Notes [Abstract] | ' | ||||||||||||||||
Schedule of partnership quarterly distribution allocation | ' | ||||||||||||||||
The Partnership’s cash distribution policy requires that the Partnership distribute to its various ownership interests on a quarterly basis all of its available cash, as defined in its partnership agreement. IDRs, which represent a limited partner ownership interest and are currently held by the Partnership’s general partner, represent the contractual right to receive an increasing percentage of quarterly distributions of available cash as follows: | |||||||||||||||||
Total Quarterly Distribution | Marginal Percentage | ||||||||||||||||
Interest in | |||||||||||||||||
Distributions | |||||||||||||||||
Target Amount | Limited Partner | General | |||||||||||||||
Unitholders (1) | Partner | ||||||||||||||||
and IDRs | |||||||||||||||||
First Target Distribution | up to $0.4025 | 98% | 2% | ||||||||||||||
Second Target Distribution | above $0.4025 up to $0.4375 | 85% | 15% | ||||||||||||||
Third Target Distribution | above $0.4375 up to $0.5250 | 75% | 25% | ||||||||||||||
Thereafter | above $0.5250 | 50% | 50% | ||||||||||||||
-1 | The class B unitholders participated in distributions on a pari passu basis with the Partnership’s common units up to $0.30 per unit per quarter. The class B units did not participate in quarterly distributions above $0.30 per unit and converted into common units on a one-for-one basis on October 9, 2013. | ||||||||||||||||
Dividends Declared [Table Text Block] | ' | ||||||||||||||||
The Partnership has declared quarterly distributions per unit to unitholders of record, including holders of common and class B units and the 2% general partner interest and IDRs held by its general partner as follows (in millions, except distribution per unit): | |||||||||||||||||
Payment Date | Distribution | Amount Paid to Common | Amount Paid | Amount Paid to General Partner (Including IDRs) (1) | |||||||||||||
per Unit | Unitholders | to Class B | |||||||||||||||
Unitholder | |||||||||||||||||
November 14, 2013 | $ | 0.5325 | $ | 129.5 | $ | — | (2) | $ | 12.4 | ||||||||
August 15, 2013 | 0.5325 | 117.3 | 6.9 | 11.4 | |||||||||||||
May 16, 2013 | 0.5325 | 110.6 | 6.8 | 10.7 | |||||||||||||
February 28, 2013 | 0.5325 | 110.6 | 6.9 | 10.8 | |||||||||||||
November 15, 2012 | 0.5325 | 110.6 | 6.9 | 10.8 | |||||||||||||
August 16, 2012 | 0.5325 | 104.6 | 6.9 | 10.2 | |||||||||||||
May 17, 2012 | 0.5325 | 98.5 | 6.8 | 9.6 | |||||||||||||
February 23, 2012 | 0.53 | 98.1 | 6.8 | 9.1 | |||||||||||||
November 17, 2011 | 0.5275 | 92.7 | 6.9 | 8.2 | |||||||||||||
August 18, 2011 | 0.525 | 92.2 | 6.9 | 7.8 | |||||||||||||
May 19, 2011 | 0.5225 | 88.6 | 6.9 | 7.4 | |||||||||||||
February 24, 2011 | 0.52 | 88.2 | 6.8 | 7.3 | |||||||||||||
-1 | In 2013, 2012 and 2011, the Partnership paid $34.6 million, $30.1 million and $22.3 million in distributions on behalf of IDRs. | ||||||||||||||||
-2 | On October 9, 2013, all of the 22.9 million Class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. | ||||||||||||||||
Distributions Made to Limited Partner, by Distribution [Table Text Block] | ' | ||||||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing basic and diluted net income per unit for the year ended December 31, 2013. Basic net income per unit is calculated based on the weighted average number of units outstanding for the period. Diluted net income per unit is calculated assuming that the class B units converted on the date that they became convertible, or July 1, 2013, (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 250.2 | |||||||||||||||
Less: Net loss attributable to noncontrolling interests | (3.5 | ) | |||||||||||||||
Net income attributable to controlling interests | 253.7 | ||||||||||||||||
Declared distribution | 430.5 | $ | 381.8 | $ | 13.7 | $ | 35 | ||||||||||
Assumed allocation of undistributed net loss - basic | (176.8 | ) | (160.5 | ) | (12.8 | ) | (3.5 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 253.7 | $ | 221.3 | $ | 0.9 | $ | 31.5 | |||||||||
partner unitholders and general partner - basic | |||||||||||||||||
Allocation for diluted earnings per unit | — | (4.6 | ) | 4.6 | — | ||||||||||||
Assumed allocation of net income attributable to limited | $ | 253.7 | $ | 216.7 | $ | 5.5 | $ | 31.5 | |||||||||
partner unitholders and general partner - diluted | |||||||||||||||||
Weighted-average units outstanding - basic | 220.5 | 17.6 | |||||||||||||||
Weighted-average units outstanding - diluted | 226.8 | 11.3 | |||||||||||||||
Net income per unit - basic | $ | 1 | $ | 0.05 | |||||||||||||
Net income per unit - diluted | $ | 0.96 | $ | 0.48 | |||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing net income per unit for the year ended December 31, 2012, (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 306 | |||||||||||||||
Less: Net loss attributable to predecessor equity | (2.2 | ) | |||||||||||||||
Net income attributable to controlling interests | 308.2 | ||||||||||||||||
Declared distribution | 493.1 | $ | 424.3 | $ | 27.5 | $ | 41.3 | ||||||||||
Assumed allocation of undistributed net loss | (184.9 | ) | (162.0 | ) | (19.2 | ) | (3.7 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 308.2 | $ | 262.3 | $ | 8.3 | $ | 37.6 | |||||||||
partner unitholders and general partner | |||||||||||||||||
Weighted-average units outstanding | 191.9 | 22.9 | |||||||||||||||
Net income per unit | $ | 1.37 | $ | 0.36 | |||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common and class B units for purposes of computing net income per unit for the year ended December 31, 2011 (in millions, except per unit data): | |||||||||||||||||
Total | Common | Class B | General Partner and IDRs | ||||||||||||||
Units | Units | ||||||||||||||||
Net income | $ | 217 | |||||||||||||||
Less: Net loss attributable to predecessor equity | (3.2 | ) | |||||||||||||||
Net income attributable to controlling interests | 220.2 | ||||||||||||||||
Declared distribution | 431.6 | $ | 371.6 | $ | 27.5 | $ | 32.5 | ||||||||||
Assumed allocation of undistributed net loss | (211.4 | ) | (183.0 | ) | (24.2 | ) | (4.2 | ) | |||||||||
Assumed allocation of net income attributable to limited | $ | 220.2 | $ | 188.6 | $ | 3.3 | $ | 28.3 | |||||||||
partner unitholders and general partner | |||||||||||||||||
Weighted-average units outstanding | 173.3 | 22.9 | |||||||||||||||
Net income per unit | $ | 1.09 | $ | 0.14 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
Following is a summary of the provision for income taxes for the periods ended December 31, 2013, 2012 and 2011 (in millions): | ||||||||||||
For the Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense: | ||||||||||||
State | $ | 0.4 | $ | (0.2 | ) | $ | 0.3 | |||||
Total | 0.4 | (0.2 | ) | 0.3 | ||||||||
Deferred provision: | ||||||||||||
State | 0.1 | 0.7 | 0.1 | |||||||||
Total | 0.1 | 0.7 | 0.1 | |||||||||
Income taxes | $ | 0.5 | $ | 0.5 | $ | 0.4 | ||||||
Credit_Risk_Tables
Credit Risk (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Risks and Uncertainties [Abstract] | ' | |||||||||||||||||
Operating revenues received from the partnership's major customer and percentage of total operating revenues earned | ' | |||||||||||||||||
Operating revenues received from the Partnership’s major customer (in millions) and the percentage of total operating revenues earned from that customer were: | ||||||||||||||||||
For the Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Revenue | % | Revenue | % | Revenue | % | |||||||||||||
Devon Gas Services, LP | $ | 127.1 | 11% | $ | 133.3 | 12% | $ | 134.2 | 12% | |||||||||
Supplemental_Disclosure_of_Cas1
Supplemental Disclosure of Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||||||
Supplemental Disclosure of Cash Flow Information (in millions): | ||||||||||||
For the Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cash paid during the period for: | ||||||||||||
Interest (net of amount capitalized) (1) | $ | 151 | $ | 169.8 | $ | 172.7 | ||||||
Income taxes, net | $ | 0.3 | $ | 0.2 | $ | 0.3 | ||||||
Non-cash adjustments: | ||||||||||||
Accounts payable and PPE (2) | $ | 38.1 | $ | 37.9 | $ | 23.8 | ||||||
Capital lease obligations incurred | $ | 10.5 | $ | — | $ | — | ||||||
-1 | The 2012 period includes payments of $9.6 million related to the settlements of interest rate derivatives and the 2011 period includes premium payments of $21.0 million related to the 2013 Notes redemption. | |||||||||||
-2 | The 2012 amount was restated to include $1.9 million previously excluded. |
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||
The following tables summarize selected quarterly financial data for 2013 and 2012 for the Partnership (in millions, except for earnings per unit): | ||||||||||||||||
2013 | ||||||||||||||||
For the Quarter Ended: | ||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | |||||||||||||
Operating revenues | $ | 312.9 | $ | 275.5 | $ | 288.7 | $ | 328.5 | ||||||||
Operating expenses | 254.4 | 172.3 | 177.6 | 186.8 | ||||||||||||
Operating income | 58.5 | 103.2 | 111.1 | 141.7 | ||||||||||||
Interest expense, net | 41.1 | 40.9 | 40.6 | 40.3 | ||||||||||||
Other (income) expense | 0.5 | 0.6 | — | (0.2 | ) | |||||||||||
Income before income taxes | 16.9 | 61.7 | 70.5 | 101.6 | ||||||||||||
Income taxes | 0.2 | — | 0.1 | 0.2 | ||||||||||||
Net income | 16.7 | 61.7 | 70.4 | 101.4 | ||||||||||||
Net loss attributable to | (2.8 | ) | (0.6 | ) | (0.1 | ) | — | |||||||||
noncontrolling interests | ||||||||||||||||
Net income attributable to | $ | 19.5 | $ | 62.3 | $ | 70.5 | $ | 101.4 | ||||||||
controlling interests | ||||||||||||||||
Basic net income per unit: | ||||||||||||||||
Common units | $ | 0.08 | $ | 0.27 | $ | 0.28 | $ | 0.42 | ||||||||
Class B units | $ | (0.02 | ) | $ | (0.32 | ) | $ | 0.03 | $ | 0.19 | ||||||
Diluted net income per unit: | ||||||||||||||||
Common units | $ | 0.08 | $ | 0.21 | $ | 0.28 | $ | 0.42 | ||||||||
Class B units | $ | — | $ | — | $ | 0.03 | $ | 0.19 | ||||||||
2012 | ||||||||||||||||
For the Quarter Ended: | ||||||||||||||||
31-Dec | 30-Sep | 30-Jun | 31-Mar | |||||||||||||
Operating revenues | $ | 325.7 | $ | 270.6 | $ | 275.8 | $ | 312.9 | ||||||||
Operating expenses | 195.5 | 169.1 | 167.3 | 179.3 | ||||||||||||
Operating income | 130.2 | 101.5 | 108.5 | 133.6 | ||||||||||||
Interest expense, net | 40.1 | 43.3 | 43.4 | 40.9 | ||||||||||||
Other (income) expense | (0.1 | ) | (0.1 | ) | (0.1 | ) | (0.1 | ) | ||||||||
Income before income taxes | 90.2 | 58.3 | 65.2 | 92.8 | ||||||||||||
Income taxes | 0.1 | 0.1 | 0.1 | 0.2 | ||||||||||||
Net income | $ | 90.1 | $ | 58.2 | $ | 65.1 | $ | 92.6 | ||||||||
Basic net income per unit: | ||||||||||||||||
Common units | $ | 0.38 | $ | 0.26 | $ | 0.3 | $ | 0.43 | ||||||||
Class B units | $ | 0.14 | $ | (0.02 | ) | $ | 0.07 | $ | 0.19 | |||||||
Diluted net income per unit: | ||||||||||||||||
Common units | $ | 0.38 | $ | 0.26 | $ | 0.3 | $ | 0.43 | ||||||||
Class B units | $ | 0.14 | $ | (0.02 | ) | $ | 0.07 | $ | 0.19 | |||||||
Guarantee_of_Securities_of_Sub1
Guarantee of Securities of Subsidiaries (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidated Balance Sheet | ' | ||||||||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.2 | $ | 9.2 | $ | 19.1 | $ | — | $ | 28.5 | |||||||||||
Receivables | — | — | 119.2 | — | 119.2 | ||||||||||||||||
Receivables - affiliate | 0.1 | 0.1 | 14.3 | (13.4 | ) | 1.1 | |||||||||||||||
Gas and liquids stored underground | — | — | 0.7 | — | 0.7 | ||||||||||||||||
Prepayments | 0.3 | — | 12.6 | — | 12.9 | ||||||||||||||||
Advances to affiliates | — | — | 194.4 | (194.4 | ) | — | |||||||||||||||
Other current assets | — | — | 23.8 | (9.1 | ) | 14.7 | |||||||||||||||
Total current assets | 0.6 | 9.3 | 384.1 | (216.9 | ) | 177.1 | |||||||||||||||
Investment in consolidated subsidiaries | 1,480.80 | 6,138.30 | — | (7,619.1 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,722.70 | — | 8,723.30 | ||||||||||||||||
Less–accumulated depreciation and | 0.6 | — | 1,488.60 | — | 1,489.20 | ||||||||||||||||
amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,234.10 | — | 7,234.10 | ||||||||||||||||
Other noncurrent assets | 0.3 | 3.7 | 420.7 | — | 424.7 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,512.10 | 168.7 | 733.1 | (3,413.9 | ) | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | 78.6 | — | 78.6 | ||||||||||||||||
Total other assets | 2,512.40 | 172.4 | 1,232.40 | (3,413.9 | ) | 503.3 | |||||||||||||||
Total Assets | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Liabilities & Partners' Capital/ | Parent | Subsidiary | Non-guarantor | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Member’s Equity | Guarantor | Issuer | Subsidiaries | ||||||||||||||||||
Payables | $ | 0.2 | $ | — | $ | 70.6 | $ | — | $ | 70.8 | |||||||||||
Payable to affiliates | 0.7 | — | 13.9 | (13.4 | ) | 1.2 | |||||||||||||||
Advances from affiliates | — | 194.4 | — | (194.4 | ) | — | |||||||||||||||
Other current liabilities | — | 19.7 | 153.3 | (9.0 | ) | 164 | |||||||||||||||
Total current liabilities | 0.9 | 214.1 | 237.8 | (216.8 | ) | 236 | |||||||||||||||
Total long-term debt and capital lease | — | 1,379.90 | 2,044.50 | — | 3,424.40 | ||||||||||||||||
obligation | |||||||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,245.20 | 168.7 | (3,413.9 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | — | 174.8 | (0.1 | ) | 174.7 | |||||||||||||||
Total other liabilities and deferred | 16 | 3,245.20 | 343.5 | (3,414.0 | ) | 190.7 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners’ capital/member’s equity | 3,976.90 | 1,480.80 | 6,138.30 | (7,619.1 | ) | 3,976.90 | |||||||||||||||
Noncontrolling interest | — | — | 86.5 | — | 86.5 | ||||||||||||||||
Total Equity | 3,976.90 | 1,480.80 | 6,224.80 | (7,619.1 | ) | 4,063.40 | |||||||||||||||
Total Liabilities and | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Partners' Capital/Member’s Equity | |||||||||||||||||||||
Condensed Consolidating Balance Sheets as of December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | 0.1 | $ | 1 | $ | 2.8 | $ | — | $ | 3.9 | |||||||||||
Receivables | — | — | 119.5 | (7.3 | ) | 112.2 | |||||||||||||||
Gas and liquids stored underground | — | — | 10.8 | — | 10.8 | ||||||||||||||||
Prepayments | — | — | 15.2 | — | 15.2 | ||||||||||||||||
Advances to affiliates | — | — | 2 | (2.0 | ) | — | |||||||||||||||
Other current assets | 0.4 | — | 18.1 | (3.6 | ) | 14.9 | |||||||||||||||
Total current assets | 0.5 | 1 | 168.4 | (12.9 | ) | 157 | |||||||||||||||
Investment in consolidated subsidiaries | 1,257.00 | 5,785.70 | — | (7,042.7 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,422.70 | — | 8,423.30 | ||||||||||||||||
Less–accumulated depreciation | 0.6 | — | 1,233.50 | — | 1,234.10 | ||||||||||||||||
and amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,189.20 | — | 7,189.20 | ||||||||||||||||
Other noncurrent assets | 0.1 | 4.8 | 511.4 | — | 516.3 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,638.50 | 84.4 | 582.6 | (3,305.5 | ) | — | |||||||||||||||
Total other assets | 2,638.60 | 89.2 | 1,094.00 | (3,305.5 | ) | 516.3 | |||||||||||||||
Total Assets | $ | 3,896.10 | $ | 5,875.90 | $ | 8,451.60 | $ | (10,361.1 | ) | $ | 7,862.50 | ||||||||||
Liabilities & Partners' Capital/ | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Member’s Equity | Guarantor | Issuer | |||||||||||||||||||
Payables | $ | 0.1 | $ | — | $ | 96.2 | $ | (7.3 | ) | $ | 89 | ||||||||||
Payable to affiliates | 2.7 | — | — | — | 2.7 | ||||||||||||||||
Advances from affiliate | — | 2 | — | (2.0 | ) | — | |||||||||||||||
Other current liabilities | 0.2 | 16.9 | 150.4 | (3.4 | ) | 164.1 | |||||||||||||||
Total current liabilities | 3 | 18.9 | 246.6 | (12.7 | ) | 255.8 | |||||||||||||||
Total long-term debt | — | 1,378.90 | 2,160.30 | — | 3,539.20 | ||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,221.10 | 84.4 | (3,305.5 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | — | 174.6 | (0.2 | ) | 174.4 | |||||||||||||||
Total other liabilities and deferred | 16 | 3,221.10 | 259 | (3,305.7 | ) | 190.4 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners’ capital/member’s equity | 3,877.10 | 1,257.00 | 5,785.70 | (7,042.7 | ) | 3,877.10 | |||||||||||||||
Noncontrolling interest | — | — | — | — | — | ||||||||||||||||
Total Equity | 3,877.10 | 1,257.00 | 5,785.70 | (7,042.7 | ) | 3,877.10 | |||||||||||||||
Total Liabilities and | $ | 3,896.10 | $ | 5,875.90 | $ | 8,451.60 | $ | (10,361.1 | ) | $ | 7,862.50 | ||||||||||
Partners' Capital/Member’s Equity | |||||||||||||||||||||
Condensed Consolidating Statements of Income | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,116.40 | $ | (88.4 | ) | $ | 1,028.00 | ||||||||||
Parking and lending | — | — | 24 | (0.1 | ) | 23.9 | |||||||||||||||
Storage | — | — | 111 | (0.1 | ) | 110.9 | |||||||||||||||
Other | — | — | 42.8 | — | 42.8 | ||||||||||||||||
Total operating revenues | — | — | 1,294.20 | (88.6 | ) | 1,205.60 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 182 | (88.6 | ) | 93.4 | |||||||||||||||
Operation and maintenance | — | 0.3 | 186.2 | — | 186.5 | ||||||||||||||||
Administrative and general | (0.1 | ) | 0.8 | 116.7 | — | 117.4 | |||||||||||||||
Other operating costs and expenses | 0.3 | 0.1 | 393.4 | — | 393.8 | ||||||||||||||||
Total operating costs and expenses | 0.2 | 1.2 | 878.3 | (88.6 | ) | 791.1 | |||||||||||||||
Operating (loss) income | (0.2 | ) | (1.2 | ) | 415.9 | — | 414.5 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 72.7 | 90.7 | — | 163.4 | ||||||||||||||||
Interest expense - affiliates | (33.6 | ) | 41.3 | (7.7 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.5 | ) | — | (0.5 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (220.3 | ) | (335.5 | ) | — | 555.8 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 1.2 | — | 1.2 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Miscellaneous other income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Total other (income) deductions | (253.9 | ) | (221.5 | ) | 83.4 | 555.8 | 163.8 | ||||||||||||||
Income before income taxes | 253.7 | 220.3 | 332.5 | (555.8 | ) | 250.7 | |||||||||||||||
Income taxes | — | — | 0.5 | — | 0.5 | ||||||||||||||||
Net Income | 253.7 | 220.3 | 332 | (555.8 | ) | 250.2 | |||||||||||||||
Net loss attributable to | — | — | (3.5 | ) | — | (3.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 253.7 | $ | 220.3 | $ | 335.5 | $ | (555.8 | ) | $ | 253.7 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,147.50 | $ | (89.2 | ) | $ | 1,058.30 | ||||||||||
Parking and lending | — | — | 28.7 | (0.7 | ) | 28 | |||||||||||||||
Storage | — | — | 85.4 | (0.7 | ) | 84.7 | |||||||||||||||
Other | — | — | 14 | — | 14 | ||||||||||||||||
Total operating revenues | — | — | 1,275.60 | (90.6 | ) | 1,185.00 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 170 | (90.6 | ) | 79.4 | |||||||||||||||
Operation and maintenance | — | — | 167.2 | — | 167.2 | ||||||||||||||||
Administrative and general | 0.5 | — | 114.8 | — | 115.3 | ||||||||||||||||
Other operating costs and expenses | 0.3 | — | 349 | — | 349.3 | ||||||||||||||||
Total operating costs and expenses | 0.8 | — | 801 | (90.6 | ) | 711.2 | |||||||||||||||
Operating (loss) income | (0.8 | ) | — | 474.6 | — | 473.8 | |||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 63.1 | 98.4 | — | 161.5 | ||||||||||||||||
Interest expense - affiliates | (35.6 | ) | 52.9 | (10.4 | ) | — | 6.9 | ||||||||||||||
Interest income | — | — | (0.7 | ) | — | (0.7 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (271.2 | ) | (387.2 | ) | — | 658.4 | — | ||||||||||||||
Miscellaneous other income | — | — | (0.4 | ) | — | (0.4 | ) | ||||||||||||||
Total other (income) deductions | (306.8 | ) | (271.2 | ) | 86.9 | 658.4 | 167.3 | ||||||||||||||
Income before income taxes | 306 | 271.2 | 387.7 | (658.4 | ) | 306.5 | |||||||||||||||
Income taxes | — | — | 0.5 | — | 0.5 | ||||||||||||||||
Net Income | $ | 306 | $ | 271.2 | $ | 387.2 | $ | (658.4 | ) | $ | 306 | ||||||||||
Condensed Consolidating Statements of Income for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 1,165.80 | $ | (98.6 | ) | $ | 1,067.20 | ||||||||||
Parking and lending | — | — | 12.8 | (0.8 | ) | 12 | |||||||||||||||
Storage | — | — | 52.2 | — | 52.2 | ||||||||||||||||
Other | — | — | 11.5 | — | 11.5 | ||||||||||||||||
Total operating revenues | — | — | 1,242.30 | (99.4 | ) | 1,142.90 | |||||||||||||||
Operating Costs and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 202.2 | (99.4 | ) | 102.8 | |||||||||||||||
Operation and maintenance | — | — | 175.2 | — | 175.2 | ||||||||||||||||
Administrative and general | (0.3 | ) | — | 137.5 | — | 137.2 | |||||||||||||||
Other operating costs and expenses | 0.3 | — | 338.2 | — | 338.5 | ||||||||||||||||
Total operating costs and expenses | — | — | 853.1 | (99.4 | ) | 753.7 | |||||||||||||||
Operating income | — | — | 389.2 | — | 389.2 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | 0.1 | 64.4 | 87.4 | — | 151.9 | ||||||||||||||||
Interest expense - affiliates | (31.6 | ) | 46.1 | (6.5 | ) | — | 8 | ||||||||||||||
Loss on early retirement of debt | — | — | 13.2 | — | 13.2 | ||||||||||||||||
Interest income | — | — | (0.4 | ) | — | (0.4 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (185.5 | ) | (296.0 | ) | — | 481.5 | — | ||||||||||||||
Miscellaneous other income | — | — | (0.9 | ) | — | (0.9 | ) | ||||||||||||||
Total other (income) deductions | (217.0 | ) | (185.5 | ) | 92.8 | 481.5 | 171.8 | ||||||||||||||
Income before income taxes | 217 | 185.5 | 296.4 | (481.5 | ) | 217.4 | |||||||||||||||
Income taxes | — | — | 0.4 | — | 0.4 | ||||||||||||||||
Net Income | $ | 217 | $ | 185.5 | $ | 296 | $ | (481.5 | ) | $ | 217 | ||||||||||
Condensed Consolidating Statements of Comprehensive Income | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 253.7 | $ | 220.3 | $ | 332 | $ | (555.8 | ) | $ | 250.2 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 1.6 | 1.6 | 1.6 | (3.2 | ) | 1.6 | |||||||||||||||
Reclassification adjustment | 1.2 | 1.2 | (0.5 | ) | (0.7 | ) | 1.2 | ||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | 0.7 | 0.7 | 0.7 | (1.4 | ) | 0.7 | |||||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 257.2 | 223.8 | 333.8 | (561.1 | ) | 253.7 | |||||||||||||||
Comprehensive loss attributable to | — | — | (3.5 | ) | — | (3.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 257.2 | $ | 223.8 | $ | 337.3 | $ | (561.1 | ) | $ | 257.2 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 306 | $ | 271.2 | $ | 387.2 | $ | (658.4 | ) | $ | 306 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | (7.1 | ) | (7.1 | ) | (6.7 | ) | 13.8 | (7.1 | ) | ||||||||||||
Reclassification adjustment | 2 | 2 | 0.3 | (2.3 | ) | 2 | |||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (12.8 | ) | (12.8 | ) | (12.8 | ) | 25.6 | (12.8 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | $ | 288.1 | $ | 253.3 | $ | 368 | $ | (621.3 | ) | $ | 288.1 | ||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 217 | $ | 185.5 | $ | 296 | $ | (481.5 | ) | $ | 217 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 3.1 | 3.1 | 3.1 | (6.2 | ) | 3.1 | |||||||||||||||
Reclassification adjustment | 0.2 | 0.2 | (1.5 | ) | 1.3 | 0.2 | |||||||||||||||
transferred to Net Income from | |||||||||||||||||||||
cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (13.2 | ) | (13.2 | ) | (13.2 | ) | 26.4 | (13.2 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | $ | 207.1 | $ | 175.6 | $ | 284.4 | $ | (460.0 | ) | $ | 207.1 | ||||||||||
Condensed Consolidating Statements of Cash Flows | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 33.9 | $ | (108.8 | ) | $ | 609.2 | $ | — | $ | 534.3 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (294.8 | ) | — | (294.8 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 60.7 | — | 60.7 | ||||||||||||||||
Proceeds from insurance | — | — | 1.4 | — | 1.4 | ||||||||||||||||
and other recoveries | |||||||||||||||||||||
Advances to affiliate | 126.4 | (84.3 | ) | (342.8 | ) | 300.7 | — | ||||||||||||||
Investment in consolidated affiliate | — | (15.1 | ) | — | 15.1 | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | (76.7 | ) | — | (76.7 | ) | ||||||||||||||
Net cash provided by (used in) | 126.4 | (99.4 | ) | (652.2 | ) | 315.8 | (309.4 | ) | |||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 1,128.00 | — | 1,128.00 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (1,255.0 | ) | — | (1,255.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | — | 15.1 | (15.1 | ) | — | |||||||||||||||
Principal payment of capital lease | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
obligation | |||||||||||||||||||||
Advances from affiliate | (2.8 | ) | 216.4 | 84.3 | (300.7 | ) | (2.8 | ) | |||||||||||||
Distributions paid | (533.9 | ) | — | — | — | (533.9 | ) | ||||||||||||||
Capital contribution from noncontrolling | — | — | 87.1 | — | 87.1 | ||||||||||||||||
interests | |||||||||||||||||||||
Proceeds from sale of common units | 368.7 | — | — | — | 368.7 | ||||||||||||||||
Capital contribution from general partner | 7.8 | — | — | — | 7.8 | ||||||||||||||||
Net cash (used in) provided by | (160.2 | ) | 216.4 | 59.3 | (315.8 | ) | (200.3 | ) | |||||||||||||
financing activities | |||||||||||||||||||||
Increase in cash and cash | 0.1 | 8.2 | 16.3 | — | 24.6 | ||||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.1 | 1 | 2.8 | — | 3.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.2 | $ | 9.2 | $ | 19.1 | $ | — | $ | 28.5 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2012 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 31.4 | $ | 577.9 | $ | 655.7 | $ | (689.5 | ) | $ | 575.5 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (226.9 | ) | — | (226.9 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 5.9 | — | 5.9 | ||||||||||||||||
Proceeds from insurance and other | — | — | 10.4 | — | 10.4 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliate | (404.2 | ) | (84.4 | ) | 66.2 | 422.4 | — | ||||||||||||||
Investment in consolidated affiliate | (17.0 | ) | (398.0 | ) | — | 415 | — | ||||||||||||||
Acquisition of business, net of cash | — | — | (620.2 | ) | — | (620.2 | ) | ||||||||||||||
acquired | |||||||||||||||||||||
Net cash (used in) provided by | (421.2 | ) | (482.4 | ) | (764.6 | ) | 837.4 | (830.8 | ) | ||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from long-term debt and term | — | 297.6 | 520.4 | — | 818 | ||||||||||||||||
loans | |||||||||||||||||||||
Repayment of borrowings from long- | — | (100.0 | ) | (425.0 | ) | — | (525.0 | ) | |||||||||||||
term debt, term loans and subordinated | |||||||||||||||||||||
debt | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | 300 | 1,835.00 | — | 2,135.00 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | (403.8 | ) | (1,891.5 | ) | — | (2,295.3 | ) | |||||||||||||
credit agreement including financing | |||||||||||||||||||||
costs | |||||||||||||||||||||
Contribution from parent | — | 17 | 398 | (415.0 | ) | — | |||||||||||||||
Contribution received related to | — | — | 269.2 | — | 269.2 | ||||||||||||||||
predecessor equity | |||||||||||||||||||||
Repayment of contribution received related to predecessor equity | — | (554.0 | ) | — | — | (554.0 | ) | ||||||||||||||
Advances from affiliate | 2.6 | 338 | 84.4 | (422.4 | ) | 2.6 | |||||||||||||||
Distributions paid | (478.9 | ) | — | (689.5 | ) | 689.5 | (478.9 | ) | |||||||||||||
Proceeds from sale of common units | 847.7 | — | — | — | 847.7 | ||||||||||||||||
Capital contribution from general partner | 18 | — | — | — | 18 | ||||||||||||||||
Net cash provided by (used in) | 389.4 | (105.2 | ) | 101 | (147.9 | ) | 237.3 | ||||||||||||||
financing activities | |||||||||||||||||||||
Decrease in cash and cash | (0.4 | ) | (9.7 | ) | (7.9 | ) | — | (18.0 | ) | ||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.5 | 10.7 | 10.7 | — | 21.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.1 | $ | 1 | $ | 2.8 | $ | — | $ | 3.9 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Year Ended December 31, 2011 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 31.4 | $ | 32.2 | $ | 543.1 | $ | (152.8 | ) | $ | 453.9 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (141.9 | ) | — | (141.9 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 31.5 | — | 31.5 | ||||||||||||||||
Proceeds from insurance and other | — | — | 9.6 | — | 9.6 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliate | 227 | 107.8 | (288.5 | ) | (46.3 | ) | — | ||||||||||||||
Investment in consolidated affiliate | (11.6 | ) | (70.0 | ) | — | 81.6 | — | ||||||||||||||
Acquisition of business, net of cash | — | — | (545.5 | ) | — | (545.5 | ) | ||||||||||||||
acquired | |||||||||||||||||||||
Net cash provided by (used in) | 215.4 | 37.8 | (934.8 | ) | 35.3 | (646.3 | ) | ||||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from long-term debt and term | — | — | 636.8 | — | 636.8 | ||||||||||||||||
loan | |||||||||||||||||||||
Repayment of borrowings from | — | — | (250.0 | ) | — | (250.0 | ) | ||||||||||||||
long-term debt | |||||||||||||||||||||
Payments of premiums on | — | — | (21.0 | ) | — | (21.0 | ) | ||||||||||||||
extinguishment of long-term debt | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | 305 | 280 | — | 585 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | (490.0 | ) | (340.0 | ) | — | (830.0 | ) | |||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | 11.6 | 70 | (81.6 | ) | — | |||||||||||||||
Contributions received related to | — | — | 284.8 | — | 284.8 | ||||||||||||||||
predecessor equity | |||||||||||||||||||||
Advances from affiliate | — | 61.5 | (107.8 | ) | 46.3 | — | |||||||||||||||
Distributions paid | (419.9 | ) | — | (152.8 | ) | 152.8 | (419.9 | ) | |||||||||||||
Proceeds from sale of common units | 170 | — | — | — | 170 | ||||||||||||||||
Capital contribution from general | 3.6 | — | — | — | 3.6 | ||||||||||||||||
partner | |||||||||||||||||||||
Net cash (used in) provided by | (246.3 | ) | (111.9 | ) | 400 | 117.5 | 159.3 | ||||||||||||||
financing activities | |||||||||||||||||||||
Increase (decrease) | 0.5 | (41.9 | ) | 8.3 | — | (33.1 | ) | ||||||||||||||
in cash and cash equivalents | |||||||||||||||||||||
Cash and cash equivalents at | — | 52.6 | 2.4 | — | 55 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | 0.5 | $ | 10.7 | $ | 10.7 | $ | — | $ | 21.9 | |||||||||||
end of period | |||||||||||||||||||||
Corporate_Structure_Details
Corporate Structure (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Oct. 09, 2013 | Feb. 24, 2014 | Feb. 24, 2014 |
Boardwalk Pipelines Holding Company | Boardwalk Pipelines Holding Company | Boardwalk GP, LP [Member] | ||||
Scenario, Forecast [Member] | Scenario, Forecast [Member] | |||||
Basis of Presentation [Abstract] | ' | ' | ' | ' | ' | ' |
Prior Period Reclassification Adjustment | $1 | $6.20 | ' | ' | ' | ' |
Corporate Structure [Line Items] | ' | ' | ' | ' | ' | ' |
Number of the Partnership's common units owned by holding company (in units) | ' | ' | ' | ' | 125.6 | ' |
General partner interest (in hundredths) | 2.00% | 2.00% | 2.00% | ' | ' | 2.00% |
Number Of Partnerships Class B Units Owned By Holding Company | ' | ' | ' | 0 | ' | ' |
Percentage of Partnership's equity interests owned by holding company (in hundredths) | ' | ' | ' | ' | 53.00% | ' |
Accounting_Policies_Details
Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounting Policies [Line Items] | ' | ' | ' |
Number of Reportable Segments (in ones) | 1 | ' | ' |
Capitalized interest and allowance for borrowed funds used during construction | $6.40 | $4.70 | $2 |
Allowance for equity funds used during construction | 0.2 | 0.4 | 0.6 |
Deferred revenues related to PAL and interruptible storage services | 7.9 | 17.3 | ' |
Deferred revenues related to a firm transportation agreement | 4.6 | 5.6 | ' |
Retained fuel included in gas transportation | $76.90 | $71.80 | $105.60 |
Contractual Retainage Provision (Percentage) | 0.50% | ' | ' |
Minimum [Member] | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 20.00% | ' | ' |
Maximum [Member] | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | ' | ' |
Accounting_Policies_Schedule_o
Accounting Policies Schedule of Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation range for PPE related to operations for which regulatory accounting does not apply (in years) | '3 years |
Depreciation range for PPE related to operations for which regulatory accounting is applicable (in years) | '5 years |
Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciation range for PPE related to operations for which regulatory accounting does not apply (in years) | '35 years |
Depreciation range for PPE related to operations for which regulatory accounting is applicable (in years) | '62 years |
Investments_Details
Investments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 29-May-13 | Dec. 31, 2013 | 29-May-13 | Dec. 31, 2013 | 29-May-13 | Dec. 31, 2013 | Dec. 31, 2013 | 29-May-13 | Dec. 31, 2013 | 29-May-13 |
In Millions, unless otherwise specified | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG [Member] | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG [Member] | Moss Lake Fractionation and Moss Lake LPG [Member] | Boardwalk Moss Lake [Member] | Boardwalk Moss Lake [Member] | Boardwalk Moss Lake [Member] | Bluegrass Pipeline [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Boardwalk Bluegrass [Member] | Boardwalk Bluegrass [Member] | Boardwalk Bluegrass [Member] | ||||
Boardwalk Moss Lake [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Affiliates of Williams [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipelines Holding Company | Boardwalk Bluegrass [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipelines Holding Company | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipelines Holding Company | |||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | 50.00% | ' | 50.00% | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
Variable Interest Entity, Financial or Other Support, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10 | $11.90 | $90 | ' | ' | ' |
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | 61.00% | 23.00% | 39.00% | ' | ' | ' | ' | 59.00% | 10.00% | 41.00% |
Variable Interest Entity Expected Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 28.5 | 3.9 | 21.9 | 55 | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' |
Investment in unconsolidated affiliates | 78.6 | 0 | ' | ' | ' | 78.6 | ' | ' | ' | ' | ' | ' | 78.6 | ' | ' | ' | ' |
Construction work in progress | 174.5 | 258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.8 | ' | ' | ' | ' |
Accounts Payable, Current | 65.1 | 69.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | ' | ' |
Accounts Payable, Other, Current | $5.70 | $19.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.70 | ' | ' | ' | ' |
Acquisitions_Details
Acquisitions (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 29, 2012 | Dec. 31, 2012 | Oct. 29, 2012 | Dec. 31, 2011 | Feb. 29, 2012 | Oct. 29, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Oct. 15, 2012 | Oct. 14, 2012 | Oct. 14, 2012 | Dec. 31, 2012 |
Term loan Boardwalk Acquisition Company [Member] | Term loan Boardwalk Acquisition Company [Member] | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Petal Gas Storage, LLC [Member] | Boardwalk Pipelines, LP | Boardwalk Pipelines, LP | Boardwalk Pipelines, LP | Boardwalk Pipelines, LP | Boardwalk Pipelines, LP | Boardwalk Pipelines, LP | Boardwalk Pipelines Holding Company | Boardwalk Louisiana Midstream | ||||
Term loan Boardwalk Acquisition Company [Member] | Petal Gas Storage, LLC [Member] | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | Boardwalk Louisiana Midstream | ||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Date of Acquisition Agreement | ' | ' | ' | ' | ' | 1-Oct-12 | ' | ' | ' | ' | ' | 15-Oct-12 | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Cash Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | $284.80 | $620.20 | $269.20 | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | 3,425 | 225 | 225 | ' | ' | 225 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | 65.00% | 35.00% | 65.00% | ' |
Entity Under Common Control, Date Of Formation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16-Aug-12 | ' | ' | ' | ' |
Prior Period Reclassification Adjustment | 1 | 6.2 | ' | ' | ' | ' | 3.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Difference Between Carrying Amount And Underlying Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | 2.2 | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 267 | ' | ' | ' |
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 281.8 | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | ' | ' | ' | ' | ' | $4.30 | ' | ' | ' | ' | ' | ' | ' | $4.30 |
Acquisitions_ProForma_Financia
Acquisitions Pro-Forma Financial Information (Unaudited) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Business Acquisition, Pro Forma Revenue | $1,240.90 | $1,253.70 |
Business Acquisition, Pro Forma Net Income (Loss) | $327 | $253.50 |
Commitments_and_Contingencies_1
Commitments and Contingencies Legal Proceedings and Settlements (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Whistler Junction Matter [Member] | ' |
Loss Contingencies [Line Items] | ' |
Number of Lawsuits Filed (in ones) | 9 |
Number of Class Action Lawsuits Filed (in ones) | 1 |
Southeast Louisiana Flood Protection Litigation [Member] | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Number of Defendants (in ones) | 100 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 |
t | ||
Environmental and Safety Matters [Line Items] | ' | ' |
Accrual for Environmental Loss Contingencies | $7.80 | $6.50 |
Number of years the related expenditures are expected to cover assessment and remediation costs (in years) | ' | '8 |
Accrued Environmental Loss Contingencies, Current | 2.2 | 1.5 |
Accrued Environmental Loss Contingencies, Noncurrent | 5.6 | 5 |
Number of facilities operated affected by non-attainment requirements | ' | 2 |
Site Contingency, Name of Site | '1 | ' |
Current ozone standard (in hours) | ' | '8-hour |
Minimum volume of annual greenhouse gas emissions to be reported (in tons) | ' | 25,000 |
Commitments for Construction [Abstract] | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | ' | $86.10 |
Commitments_and_Contingencies_3
Commitments and Contingencies Schedule of Operating Leased Assets (Details) (Office Space and Equipment Rentals [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Office Space and Equipment Rentals [Member] | ' | ' | ' |
Operating Leased Assets [Line Items] | ' | ' | ' |
2014 | $5.30 | ' | ' |
2015 | 4.9 | ' | ' |
2016 | 4.8 | ' | ' |
2017 | 2.6 | ' | ' |
2018 | 1.4 | ' | ' |
Thereafter | 0.2 | ' | ' |
Total | 19.2 | ' | ' |
Operating Leases, Rent Expense | $8.60 | $6.40 | $4.50 |
Commitments_and_Contingencies_4
Commitments and Contingencies Schedule of Pipeline Capacity Agreements (Details) (Pipeline Capacity Agreements [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pipeline Capacity Agreements [Member] | ' | ' | ' |
Recorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' |
2014 | $10.90 | ' | ' |
2015 | 10.3 | ' | ' |
2016 | 9.3 | ' | ' |
2017 | 8.7 | ' | ' |
2018 | 4.7 | ' | ' |
Thereafter | 0 | ' | ' |
Total | 43.9 | ' | ' |
Expenses related to pipeline capacity agreements | $9.80 | $9.10 | $9.80 |
Commitments_and_Contingencies_5
Commitments and Contingencies Schedule of Capital Leased Assets (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 |
Office Building [Member] | Office Building [Member] | ||||
Capital Leased Assets [Line Items] | ' | ' | ' | ' | ' |
Description of Lessee Leasing Arrangements, Capital Leases | ' | ' | ' | ' | 'The office building lease has a term of fifteen years with two twenty year renewal options. |
Capital Lease Obligations Incurred | $10.50 | $0 | $0 | ' | $10.50 |
Capital Leases, Income Statement, Amortization Expense | ' | ' | ' | 0.3 | ' |
2014 | ' | ' | ' | ' | 1 |
2015 | ' | ' | ' | ' | 1 |
2016 | ' | ' | ' | ' | 1 |
2017 | ' | ' | ' | ' | 1 |
2018 | ' | ' | ' | ' | 1 |
Thereafter | ' | ' | ' | ' | 10.6 |
Total minimum lease payments | ' | ' | ' | ' | 15.6 |
Less amounts representing interest | ' | ' | ' | ' | -5.2 |
Present value of obligation under capital lease | ' | ' | ' | ' | 10.4 |
Less: current portion of obligations under capital lease (recorded in other current liabilities) | ' | ' | ' | ' | -0.4 |
Long-term obligations under capital lease | 10 | 0 | ' | ' | 10 |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | ' | ' | ' | ' | $0.30 |
Fair_Value_Measurements_Deriva5
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Fair Value Measurements Assets and Liabilities Measured on Recurring and Nonrecurring (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | ||
Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Commodity Contract | Commodity Contract | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Assets to be abandoned Turbine [Member] | Assets to be abandoned [Member] | Assets to be abandoned [Member] | Assets to be abandoned [Member] | Assets to be abandoned [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Asset retirement obligation associated with retirement of small-diameter pipe [Member] | Owensboro Office Building [Member] | |||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Nonrecurring | Commodity Contract | Commodity Contract | Fair Value, Measurements, Nonrecurring | Commodity Contract | Commodity Contract | Fair Value, Measurements, Nonrecurring | Commodity Contract | Commodity Contract | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | |||||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | Fair Value, Measurements, Nonrecurring | |||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Assets, Fair Value Disclosure | ' | $0 | $0.50 | $0.10 | $0 | $0 | $0 | $0 | $0.50 | $0.10 | $0 | $0 | $0 | ' | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | ' | ' | 0.1 | ' | ' | 0 | ' | ' | 0.1 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Impairment of Long-Lived Assets to be Disposed of | 6.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | [1] | ' | ' | ' | 2.8 | [2] | ' | ' | ' | ' | ' |
Long-Lived Assets to be Abandoned, Carrying Value of Asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Asset impairment on small-diameter pipeline assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.2 | ' | ||
Carrying Value Before Sale or Impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | ||
[1] | In 2012, the Partnership determined that it would retire a number of small-diameter pipeline assets and recorded an asset impairment charge of $5.2 million comprised of the carrying amount of the assets and amounts related to asset retirement obligations for the assets. Additionally, in 2012, the Partnership recorded an asset impairment charge when it determined that it would retire a turbine associated with one of its compressor stations which had a carrying amount of $1.1 million. | |||||||||||||||||||||||||
[2] | In 2012, the Partnership recognized a $2.8 million impairment charge related to its Owensboro, Kentucky, office building. The office building was sold for an amount that equaled its carrying amount of $3.0 million in the third quarter 2012. |
Derivatives_Details
Derivatives (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 |
MMcf | Commodity Contract | Commodity Contract | Commodity Contract | Commodity Contract | Commodity Contract | Commodity Contract | Commodity Contract | Commodity Contract | Petal Term Loan [Member] | Petal Term Loan [Member] | Petal Term Loan [Member] | ||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | ||||||
Other non-current liabilities [Member] | Other non-current liabilities [Member] | Other non-current assets [Member] | Other non-current assets [Member] | Other current liabilities [Member] | Other current liabilities [Member] | Other current assets [Member] | Other current assets [Member] | ||||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory Gas In Storage Underground Current | $0.30 | $7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volume of Gas to be Purchased (in MMcf) | 2,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | 600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 |
Long-term Debt, Gross | 3,425 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200 | 200 | ' |
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.7 | -0.3 | ' |
Derivative, Description of Terms (in years) | ' | '10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Length of Time Hedged in Price Risk Cash Flow Hedge (in years) | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, cash paid on hedge | ' | 7.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | ' | ' | ' | ' | 0 | 0 | ' | ' | 0.5 | 0.1 | ' | ' | ' |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | ' | ' | $0 | $0 | ' | ' | $0 | $0.10 | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Deriva6
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Derivatives in Cash Flow Hedging Relationship (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Other | $42.80 | $14 | $11.50 | |||
Transportation | 1,028 | 1,058.30 | 1,067.20 | |||
Number Of Counterparties Holding Derivatives | 1 | ' | ' | |||
Derivative Assets (Liabilities), at Fair Value, Net | 0.5 | ' | ' | |||
Derivative, Collateral, Obligation to Return Cash | 10 | ' | ' | |||
Derivative, Collateral, Right to Reclaim Cash | 25 | ' | ' | |||
Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | 1.6 | -7.1 | 3.1 | |||
Amount of gain/(loss) reclassified from AOCI into income (effective portion) | -1.2 | -2 | -0.2 | |||
Amount of gain/(loss) recognized in income on derivative (in-effective portion and amount excluded from effectiveness testing) | 0 | 0 | 0 | |||
Commodity Contract | Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | 1.6 | 0 | 3.1 | |||
Commodity Contract | Operating Revenue | Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) reclassified from AOCI into income (effective portion) | 0 | 0.1 | [1] | 1.5 | [2] | |
Amount of gain/(loss) recognized in income on derivative (in-effective portion and amount excluded from effectiveness testing) | 0 | 0 | 0 | |||
Other | ' | 0.1 | 0.4 | |||
Transportation | ' | ' | 1.1 | |||
Commodity Contract | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) reclassified from AOCI into income (effective portion) | 1.2 | ' | ' | |||
Amount of gain/(loss) recognized in income on derivative (in-effective portion and amount excluded from effectiveness testing) | 0 | ' | ' | |||
Interest Rate Contract | Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) recognized in AOCI on derivatives (effective portion) | 0 | [3] | -7.1 | [3] | 0 | [3] |
Interest Rate Contract | Interest Expense | Cash Flow Hedging | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Amount of gain/(loss) reclassified from AOCI into income (effective portion) | -2.4 | [3] | -2.1 | [3] | -1.7 | [3] |
Amount of gain/(loss) recognized in income on derivative (in-effective portion and amount excluded from effectiveness testing) | $0 | [3] | $0 | [3] | $0 | [3] |
[1] | $0.1 million was recorded in Other revenues. | |||||
[2] | $1.1 million was recorded in Transportation revenues and $0.4 million was recorded in Other revenues. | |||||
[3] | Related to amounts deferred in AOCI from Treasury rate locks used in hedging interest payments associated with debt offerings that were settled in previous periods and are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. |
Fair_Value_Measurements_Deriva7
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Financial Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' | |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | $28.50 | $3.90 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | |
Long-term Debt, Fair Value | 3,414.40 | [1] | 3,539.20 |
Portion at Fair Value, Fair Value Disclosure [Member] | ' | ' | |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 28.5 | 3.9 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | |
Long-term Debt, Fair Value | 3,573.80 | 3,841.10 | |
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 | ' | ' | |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 28.5 | 3.9 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | |
Long-term Debt, Fair Value | 0 | 0 | |
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 | ' | ' | |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | |
Long-term Debt, Fair Value | 3,573.80 | 3,841.10 | |
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 3 | ' | ' | |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 | |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | |
Long-term Debt, Fair Value | $0 | $0 | |
[1] | The carrying amount of long-term debt excludes a $10.0 million capital lease obligation. |
Fair_Value_Measurements_Deriva8
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Net gain (loss) to be reclassified into earnings within the next twelve months | $4.30 | ' | ' |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 6.2 | ' | ' |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -1.9 | ' | ' |
Accumulated other comprehensive income (loss) (beginning) | -67.3 | -49.4 | ' |
Gain (loss) recorded in accumulated other comprehensive income | 1.6 | -7.1 | 3.1 |
Transportation operating revenues | -1,028 | -1,058.30 | -1,067.20 |
Other operating revenues | -42.8 | -14 | -11.5 |
Interest Expense | 163.4 | 161.5 | 151.9 |
Pension and other postretirement benefit costs | 0.7 | -12.8 | -13.2 |
Accumulated other comprehensive income (loss) (ending) | -63.8 | -67.3 | -49.4 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Transportation operating revenues | 0.1 | ' | ' |
Other operating revenues | -0.1 | -0.1 | ' |
Disposal of assets | -1.2 | ' | ' |
Interest Expense | 2.4 | 2.1 | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss) (beginning) | -15.5 | -10.4 | ' |
Gain (loss) recorded in accumulated other comprehensive income | 1.6 | -7.1 | ' |
Pension and other postretirement benefit costs | 0 | 0 | ' |
Accumulated other comprehensive income (loss) (ending) | -12.7 | -15.5 | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Transportation operating revenues | 0.1 | ' | ' |
Other operating revenues | -0.1 | -0.1 | ' |
Disposal of assets | -1.2 | ' | ' |
Interest Expense | 2.4 | 2.1 | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Accumulated other comprehensive income (loss) (beginning) | -51.8 | -39 | ' |
Gain (loss) recorded in accumulated other comprehensive income | 0 | 0 | ' |
Pension and other postretirement benefit costs | 0.7 | -12.8 | ' |
Accumulated other comprehensive income (loss) (ending) | -51.1 | -51.8 | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Transportation operating revenues | 0 | ' | ' |
Other operating revenues | 0 | 0 | ' |
Disposal of assets | 0 | ' | ' |
Interest Expense | $0 | $0 | ' |
Property_Plant_and_Equipment_P1
Property, Plant and Equipment Property, Plant and Equipment Class and Useful Life (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | $8,723.30 | $8,423.30 |
Less: accumulated depreciation | 1,489.20 | 1,234.10 |
Total PPE, net | 7,234.10 | 7,189.20 |
Depreciable plant: | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 8,414.80 | 8,042.30 |
Property, Plant and Equipment, Weighted-Average Useful Life | '36 years | '36 years |
Depreciable plant: | Transmission | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 7,067.70 | 6,908.30 |
Property, Plant and Equipment, Weighted-Average Useful Life | '37 years | '37 years |
Depreciable plant: | Storage | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 749.7 | 732.3 |
Property, Plant and Equipment, Weighted-Average Useful Life | '38 years | '38 years |
Depreciable plant: | Gathering | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 326 | 151 |
Property, Plant and Equipment, Weighted-Average Useful Life | '27 years | '21 years |
Depreciable plant: | General | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 160.3 | 145.5 |
Property, Plant and Equipment, Weighted-Average Useful Life | '13 years | '12 years |
Depreciable plant: | Rights of way and other | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 111.1 | 105.2 |
Property, Plant and Equipment, Weighted-Average Useful Life | '35 years | '33 years |
Non-depreciable: | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 308.5 | 381 |
Non-depreciable: | Storage | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 90.8 | 80 |
Non-depreciable: | Construction work in progress | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 174.5 | 258 |
Non-depreciable: | Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | 26.9 | 26.7 |
Non-depreciable: | Other | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total PPE | $16.30 | $16.30 |
Property_Plant_and_Equipment_U
Property, Plant and Equipment Undivided Interests (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Undivided Interest Property [Line Items] | ' | ' |
Gross PPE Investment | $120.70 | $120.60 |
Accumulated Depreciation | 32.9 | 29.4 |
Bistineau Storage | ' | ' |
Undivided Interest Property [Line Items] | ' | ' |
Undivided interests in storage facility | 92.00% | ' |
Gross PPE Investment | 55.8 | 55.7 |
Accumulated Depreciation | 15.1 | 13.4 |
Mobile Bay Pipeline | ' | ' |
Undivided Interest Property [Line Items] | ' | ' |
Undivided interest in pipeline | 64.00% | ' |
Gross PPE Investment | 11.1 | 11.1 |
Accumulated Depreciation | 3.1 | 2.8 |
NGL pipelines and facilities | ' | ' |
Undivided Interest Property [Line Items] | ' | ' |
Undivided interest in Ethylene Wells | 83.00% | ' |
Gross PPE Investment | 34.8 | 34.8 |
Accumulated Depreciation | 1.3 | 0.2 |
Offshore and Other Assets | ' | ' |
Undivided Interest Property [Line Items] | ' | ' |
Gross PPE Investment | 19 | 19 |
Accumulated Depreciation | $13.40 | $13 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment Schedule of Prior Period Adjustment Restatement (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Property, plant and equipment, gross | $8,723.30 | $8,423.30 |
Depreciable plant: | ' | ' |
Property, plant and equipment, gross | 8,414.80 | 8,042.30 |
Property, Plant and Equipment, Weighted-Average Useful Life | '36 years | '36 years |
Depreciable plant: | Scenario, Previously Reported [Member] | ' | ' |
Property, plant and equipment, gross | ' | 8,057.60 |
Property, Plant and Equipment, Weighted-Average Useful Life | ' | '36 years |
Depreciable plant: | General | ' | ' |
Property, plant and equipment, gross | 160.3 | 145.5 |
Property, Plant and Equipment, Weighted-Average Useful Life | '13 years | '12 years |
Depreciable plant: | General | Scenario, Previously Reported [Member] | ' | ' |
Property, plant and equipment, gross | ' | 144.4 |
Property, Plant and Equipment, Weighted-Average Useful Life | ' | '14 years |
Depreciable plant: | Rights of way and other | ' | ' |
Property, plant and equipment, gross | 111.1 | 105.2 |
Property, Plant and Equipment, Weighted-Average Useful Life | '35 years | '33 years |
Depreciable plant: | Rights of way and other | Scenario, Previously Reported [Member] | ' | ' |
Property, plant and equipment, gross | ' | 121.6 |
Property, Plant and Equipment, Weighted-Average Useful Life | ' | '32 years |
Non-depreciable: | ' | ' |
Property, plant and equipment, gross | 308.5 | 381 |
Non-depreciable: | Scenario, Previously Reported [Member] | ' | ' |
Property, plant and equipment, gross | ' | 365.7 |
Non-depreciable: | Other | ' | ' |
Property, plant and equipment, gross | 16.3 | 16.3 |
Non-depreciable: | Other | Scenario, Previously Reported [Member] | ' | ' |
Property, plant and equipment, gross | ' | $1 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Asset Dispositions and Impairments [Abstract] | ' | ' | ' |
Asset impairment | $4.10 | $9.10 | $30.50 |
Bistineau Storage Gas Loss [Abstract] | ' | ' | ' |
Value of gas loss | 0 | 0 | 3.7 |
Materials and Supplies [Member] | ' | ' | ' |
Materials and Supplies [Abstract] | ' | ' | ' |
Impairment of Long-Lived Assets to be Disposed of | ' | ' | 28.8 |
Estimated fair value of plan assets | ' | ' | 6.4 |
Net realized gain on sale | 0.5 | 3.7 | 2.9 |
Book value of materials and supplies after impairment | 12.8 | 17.8 | ' |
Gas Storage Sale [Member] | ' | ' | ' |
Gas Sales [Abstract] | ' | ' | ' |
Gain (Loss) on Disposition of Other Assets | 29.9 | ' | 9.2 |
Volume Of Gas Sold (in MMcf) | 14,900 | ' | 4,500 |
Carrying Value Before Sale or Impairment | 26 | ' | ' |
Carrying value of storage gas available for sale | ' | ' | 10.3 |
Carthage Compressor Station Incident [Member] | ' | ' | ' |
Compressor Station Fire [Abstract] | ' | ' | ' |
Insurance Deductible Applicable To Restoring Equipment And Facilities Damaged By Fire | ' | ' | 5 |
Estimated Insurance Recoveries | ' | ' | 8.8 |
Recovery of Direct Costs | 11.7 | ' | ' |
Insured Event, Gain (Loss) | 1.7 | 1.2 | ' |
Bistineau Storage Gas Loss [Member] | ' | ' | ' |
Bistineau Storage Gas Loss [Abstract] | ' | ' | ' |
Approximate volume of gas loss (in MMcfs) | ' | ' | 6,700 |
Value of gas loss | ' | ' | $3.70 |
Carrying value of gas (in dollars per MMBtu) | ' | ' | 0.53 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets Goodwill (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill [Roll Forward] | ' | ' | ' | |
Goodwill | $267 | $215 | ' | |
Goodwill Acquired | ' | 52 | [1] | ' |
Goodwill, Impairment Loss | -51.5 | 0 | 0 | |
Goodwill | $215.50 | $267 | $215 | |
[1] | Refer to Note 4 for further information on the acquisition of Louisiana Midstream. |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | $39.40 | $39.40 | ' |
Accumulated amortization | -2.1 | -0.8 | ' |
Net carrying amount | 37.3 | 38.6 | ' |
Amortization of Intangible Assets | 1.3 | 0.8 | 0.1 |
2014 | 1.3 | ' | ' |
2015 | 1.3 | ' | ' |
2016 | 1.3 | ' | ' |
2017 | 1.3 | ' | ' |
2018 | 1.3 | ' | ' |
Thereafter | $30.80 | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '30 years | ' | ' |
Asset_Retirement_Obligations_A2
Asset Retirement Obligations (ARO) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ||
Balance at beginning of year | $39 | $20 | ||
Liabilities recorded | 8 | 4.9 | ||
Liabilities settled | -1.7 | -0.6 | ||
Liabilities incurred from assets acquired | 0 | [1] | 13.6 | [1] |
Accretion expense | 1.8 | 1.1 | ||
Balance at end of year | 47.1 | 39 | ||
Less: Current portion of asset retirement obligations | -7.8 | -5.8 | ||
Long-term asset retirement obligations | 39.3 | 33.2 | ||
Provision for other asset retirement | $57.60 | $57.40 | ||
[1] | Represents the fair value of the asset retirement obligations assumed through the acquisition of Louisiana Midstream. |
Regulatory_Assets_and_Liabilit2
Regulatory Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Regulatory Assets and Liabilities Disclosure [Abstract] | ' | ' |
Period of recovery-minimum (in years) | '1 year | ' |
Period of recovery-maximum (in years) | '18 years | ' |
Regulatory Assets [Line Items] | ' | ' |
Regulatory Assets | $26.80 | $31.70 |
Pension | ' | ' |
Regulatory Assets [Line Items] | ' | ' |
Regulatory Assets | 10.6 | 10.6 |
Tax effect of AFUDC equity | ' | ' |
Regulatory Assets [Line Items] | ' | ' |
Regulatory Assets | 3.9 | 4.3 |
Unamortized debt expense and premium on reacquired debt | ' | ' |
Regulatory Assets [Line Items] | ' | ' |
Regulatory Assets | 11.5 | 13.5 |
Fuel tracker | ' | ' |
Regulatory Assets [Line Items] | ' | ' |
Regulatory Assets | $0.80 | $3.30 |
Regulatory_Assets_and_Liabilit3
Regulatory Assets and Liabilities Regulatory Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | $89.60 | $85.50 |
Cashout and fuel tracker | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 1.1 | 0.9 |
Provision for other asset retirement | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 57.6 | 57.4 |
Unamortized discount on long-term debt | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | -1.8 | -2.2 |
Postretirement benefits other than pension | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 32.7 | 29.3 |
Other | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | $0 | $0.10 |
Financing_Details
Financing (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Nov. 30, 2012 | Dec. 31, 2011 |
Boardwalk Pipelines Revolving Credit Facility [Member] | Boardwalk Pipelines Revolving Credit Facility [Member] | Gulf Crossing Revolving Credit Facility [Member] | Gulf Crossing Revolving Credit Facility [Member] | Gulf South Revolving Credit Facility [Member] | Gulf South Revolving Credit Facility [Member] | Texas Gas Revolving Credit Facility [Member] | Texas Gas Revolving Credit Facility [Member] | Total Revolving Credit Facility [Member] | Total Revolving Credit Facility [Member] | Credit Facility Under Second Amended Restated Credit Agreement Member | Boardwalk Pipelines 5.88% Notes Due 2016 [Member] | Boardwalk Pipelines 5.88% Notes Due 2016 [Member] | Boardwalk Pipelines Notes 5.50% Due 2017 [Member] | Boardwalk Pipelines Notes 5.50% Due 2017 [Member] | Boardwalk Pipelines 5.20% Notes Due 2018 [Member] | Boardwalk Pipelines 5.20% Notes Due 2018 [Member] | Boardwalk Pipelines 5.75% Notes Due 2019 [Member] | Boardwalk Pipelines 5.75% Notes Due 2019 [Member] | Boardwalk Pipelines 3.375% Notes Due 2023 [Member] | Boardwalk Pipelines 3.375% Notes Due 2023 [Member] | Gulf South 5.05% Notes Due 2015 [Member] | Gulf South 5.05% Notes Due 2015 [Member] | Gulf South 6.30% Notes Due 2017 [Member] | Gulf South 6.30% Notes Due 2017 [Member] | Gulf South 4.00% Notes Due 2022 [Member] | Gulf South 4.00% Notes Due 2022 [Member] | Gulf South 4.00% Notes Due 2022 [Member] | Texas Gas 4.60% Notes Due 2015 [Member] | Texas Gas 4.60% Notes Due 2015 [Member] | Texas Gas 4.50% Notes Due 2021 [Member] | Texas Gas 4.50% Notes Due 2021 [Member] | Texas Gas 4.50% Notes Due 2021 [Member] | Texas Gas 4.50% Notes Due 2021 [Member] | Texas Gas 7.25% Debentures Due 2027 [Member] | Texas Gas 7.25% Debentures Due 2027 [Member] | Total Notes and Debentures [Member] | Total Notes and Debentures [Member] | Term loan Boardwalk Acquisition Company [Member] | Term loan Boardwalk Acquisition Company [Member] | Gulf South 5.75% Notes Due 2012 [Member] | Texas Gas 5.50% Notes Due 2013 [Member] | Petal Term Loan [Member] | Petal Term Loan [Member] | Petal Term Loan [Member] | Subordinated Loan Agreement with BPHC [Member] | Subordinated Loan Agreement with BPHC [Member] | ||||
Long-term Debt, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 525 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 975 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | 185 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,490 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | 3,425 | ' | ' | 0 | 0 | 175 | 302 | 0 | 0 | 0 | 0 | 175 | 302 | ' | 250 | 250 | 300 | 300 | 185 | 185 | 350 | 350 | 300 | 300 | 275 | 275 | 275 | 275 | ' | 300 | 300 | 250 | 250 | ' | ' | 440 | 440 | 100 | 100 | 3,025 | 3,025 | 225 | 225 | ' | ' | ' | 200 | 200 | ' | 100 |
Debt Instruments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Lease Obligations, Noncurrent | 10 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt and Capital Lease Obligations | 3,435 | 3,552 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: unamortized debt discount | -10.6 | -12.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt and capital lease obligation | 3,424.40 | 3,539.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.29% | 1.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.32% | 5.32% | 1.92% | 1.96% | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Date of Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5-Nov-12 | ' | ' | ' | ' | ' | 15-Jun-12 | ' | ' | ' | ' | 16-Jun-11 | 19-Jan-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Amount of Issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | 440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchaser Discounts and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.4 | ' | ' | ' | ' | ' | 3.5 | ' | ' | ' | ' | 2.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 297.6 | ' | ' | ' | ' | ' | 296.5 | ' | ' | ' | ' | 437.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.38% | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.75% | 5.50% | ' | ' | ' | ' | 8.00% |
Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Feb-23 | ' | ' | ' | ' | ' | 15-Jun-22 | ' | ' | ' | ' | 1-Feb-21 | ' | ' | ' | ' | ' | ' | ' | 1-Oct-17 | ' | 15-Aug-12 | 1-Apr-13 | ' | 1-Dec-16 | ' | ' | ' |
Interest Payable date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'February 1 and August 1 | ' | ' | ' | ' | ' | 'June 15 and December 15 | ' | ' | ' | ' | 'February 1 and August 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of borrowings from long-term debt | 0 | 525 | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225 | 250 | 200 | ' | ' | ' | ' |
Debt Instrument, Covenant Description | 'The Partnerships notes and debentures are redeemable, in whole or in part, at the Partnerships option at any time, at a redemption price equal to the greater of 100% of the principal amount of the notes to be redeemed or a make whole redemption price based on the remaining scheduled payments of principal and interest discounted to the date of redemption at a rate equal to the Treasury rate plus 20 to 50 basis points depending upon the particular issue of notes, plus accrued and unpaid interest, if any. Other customary covenants apply, including those concerning events of default. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Compliance | 'At December 31, 2013, Boardwalk Pipelines and its operating subsidiaries were in compliance with their debt covenants. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of borrowings from subordinated loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100 | ' |
Extinguishment of Debt Disclosures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount (Premium), Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' |
Amount of premium and unamortized discounts on redeemed notes recognized as a regulatory asset | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.9 | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | 0 | 0 | -13.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.2 | ' | ' | ' | ' | ' |
Line of Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $175 | $302 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Expiration Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27-Apr-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Terms | 'The credit facility contains various restrictive covenants and other usual and customary terms and conditions, including restrictions regarding the incurrence of additional debt, the sale of assets and sale-leaseback transactions. The financial covenants under the credit facility require the Partnership and its subsidiaries to maintain, among other things, a ratio of total consolidated debt to consolidated EBITDA (as defined in the credit agreement) measured for the previous twelve months of not more than 5.0 to 1.0, or up to 5.5 to 1.0 for the three quarters following an acquisition. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Compliance | 'The Partnership and its subsidiaries were in compliance with all covenant requirements under the credit facility as of December 31, 2013. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing_Schedule_of_Capital_
Financing Schedule of Capital Units (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2011 | |||||
In Millions, except Per Share data, unless otherwise specified | Second Quarter 2013 Offering [Member] | Fourth Quarter 2012 Offering [Member] | Third Quarter 2012 Offering [Member] | First Quarter 2012 Offering [Member] | Second Quarter 2011 Offering [Member] | ||||||||
Capital Unit [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Month of Offering | ' | ' | ' | 'May 1, 2013 | [1] | 'October 1, 2012 | [1] | 'August 1, 2012 | [1] | 'February 1, 2012 | [1] | 'June 1, 2011 | [1] |
Number of Common Units | ' | ' | ' | 12.7 | 11.2 | 11.6 | 9.2 | 6 | |||||
Issuance Price (in dollars per share) | ' | ' | ' | $30.12 | $26.99 | $27.80 | $27.55 | $29.33 | |||||
Less Underwriting Discounts and Expenses | ' | ' | ' | $12.30 | $10.40 | $11.20 | $8.50 | $6 | |||||
Proceeds from Issuance or Sale of Equity | ' | ' | ' | $376.50 | $297.60 | $317.90 | $250.20 | $173.60 | |||||
Common Units Outstanding After Offering | ' | ' | ' | 220.3 | 207.7 | 196.5 | 184.9 | 175.7 | |||||
Common Units Held by the Public After Offering | ' | ' | ' | 117.6 | 105 | 93.8 | 82.2 | 73 | |||||
General partner interest (in hundredths) | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | |||||
[1] | BPHC waived the prepayment provisions under the Subordinated Loans that would have required prepayment of the Subordinated Loans as a result of these issuances. |
Financing_Summary_of_Changes_i
Financing Summary of Changes in Outstanding Units (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Oct. 09, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Registration Rights Agreement [Abstract] | ' | ' | ' | ' | ||||
Number of common units registered for resale under Amended and Restated Registration Rights Agreement (in number of units) | ' | 27.9 | ' | ' | ||||
Maximum amount Partnership must pay for reimbursement of underwriting discounts and commissions (in dollars per unit) | ' | 0.914 | ' | ' | ||||
Accrued liability for future underwriting discounts and commissions | ' | 16 | 16 | ' | ||||
Statement [Line Items] | ' | ' | ' | ' | ||||
Conversion of Stock, Shares Converted | -22.9 | ' | ' | ' | ||||
Common Units | ' | ' | ' | ' | ||||
Statement [Line Items] | ' | ' | ' | ' | ||||
Balance, Beginning (in units) | ' | 207.7 | 175.7 | 169.7 | ||||
Common units issued in connection with underwritten offerings | ' | 12.7 | 32 | 6 | ||||
Conversion of Stock, Shares Converted | -22.9 | ' | ' | ' | ||||
Balance, Ending (in units) | ' | 243.3 | 207.7 | 175.7 | ||||
Class B Units | ' | ' | ' | ' | ||||
Statement [Line Items] | ' | ' | ' | ' | ||||
Balance, Beginning (in units) | ' | 22.9 | [1] | 22.9 | [1] | 22.9 | [1] | |
Common units issued in connection with underwritten offerings | ' | 0 | [1] | 0 | [1] | 0 | [1] | |
Conversion of Stock, Shares Converted | -22.9 | [1] | ' | ' | ' | |||
Balance, Ending (in units) | ' | 0 | [1] | 22.9 | [1] | 22.9 | [1] | |
[1] | On October 9, 2013, all of the 22.9 million class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. |
Financing_Subsequent_Event_Det
Financing Subsequent Event (Details) (Subsequent Event [Member], Scenario, Forecast [Member], USD $) | Feb. 21, 2014 |
In Millions, unless otherwise specified | |
Subsequent Event [Member] | Scenario, Forecast [Member] | ' |
Subsequent Event [Line Items] | ' |
Line of Credit Facility, Amount Outstanding | $250 |
Line of Credit Facility, Remaining Borrowing Capacity | $750 |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Defined Contribution Plan, Cost Recognized | $8.60 | $8 | $7.40 |
PBOP | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Contribution to defined benefit pension plan | 0.1 | 0.2 | ' |
Pension Plan | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Required amount of funding of periodic pension cost | 3 | ' | ' |
Contribution to defined benefit pension plan | 3 | 7.5 | ' |
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | 3 | ' | ' |
Minimum amount of recognize expense each year associated with retirement plan | 3 | ' | ' |
Future rate recovery | 'in excess of $6.0 million | ' | ' |
Precluded future recovery of annual pension costs, lower range | 3 | ' | ' |
Precluded future recovery of annual pension costs, upper range | 6 | ' | ' |
Recognition of regulatory assets | 'in excess of $6.0 million | ' | ' |
Reduction of regulatory assets | 'less than $3.0 million | ' | ' |
Pension plan costs charged to expense, lower range | 3 | ' | ' |
Pension plan costs charged to expense, upper range | 6 | ' | ' |
SRP | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Contribution to defined benefit pension plan | $0 | $0 | ' |
Employee_Benefits_Projected_Be
Employee Benefits, Projected Benefit Obligation, Fair Value of Assets, Funded Status and the Amounts Not Yet Recognized As Components of Net Periodic Pension and Postretirement Benefits Cost (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Retirement Plans | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of period | $152.50 | $140.20 | ' |
Service cost | 3.9 | 4 | 3.9 |
Interest cost | 5 | 5.8 | 6.4 |
Plan participants’ contributions | 0 | 0 | ' |
Actuarial loss (gain) | -1.2 | 9.4 | ' |
Benefits paid | -0.4 | -6.9 | ' |
Settlement charge | -11.3 | 0 | ' |
Benefit obligation at end of period | 148.5 | 152.5 | 140.2 |
Change in Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of period | 125.7 | 112.9 | ' |
Actual return on plan assets | 14.4 | 12.2 | ' |
Benefits paid | -0.4 | -6.9 | ' |
Settlement | -11.3 | 0 | ' |
Company contributions | 3 | 7.5 | ' |
Plan participants’ contributions | 0 | 0 | ' |
Fair value of plan assets at end of period | 131.4 | 125.7 | 112.9 |
Funded status | -17.1 | -26.8 | ' |
Items Not Recognized As Components Of Net Periodic Cost [Abstract] | ' | ' | ' |
Prior service cost (credit) | 0 | 0.1 | ' |
Net actuarial loss | 24.4 | 34.7 | ' |
Total | 24.4 | 34.8 | ' |
PBOP | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of period | 59.5 | 54 | ' |
Service cost | 0.5 | 0.5 | 0.4 |
Interest cost | 2.1 | 2.4 | 2.6 |
Plan participants’ contributions | 0.8 | 0.8 | ' |
Actuarial loss (gain) | -8.3 | 5.2 | ' |
Benefits paid | -4.6 | -3.4 | ' |
Settlement charge | 0 | 0 | ' |
Benefit obligation at end of period | 50 | 59.5 | 54 |
Change in Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of period | 86.7 | 81.8 | ' |
Actual return on plan assets | -2.2 | 7.3 | ' |
Benefits paid | -4.6 | -3.4 | ' |
Settlement | 0 | 0 | ' |
Company contributions | 0.1 | 0.2 | ' |
Plan participants’ contributions | 0.8 | 0.8 | ' |
Fair value of plan assets at end of period | 80.8 | 86.7 | 81.8 |
Funded status | 30.8 | 27.2 | ' |
Items Not Recognized As Components Of Net Periodic Cost [Abstract] | ' | ' | ' |
Prior service cost (credit) | -16.4 | -24.2 | ' |
Net actuarial loss | 10.6 | 12.2 | ' |
Total | -5.8 | -12 | ' |
Pension Plan | ' | ' | ' |
Change in Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of period | 125.7 | ' | ' |
Company contributions | 3 | 7.5 | ' |
Fair value of plan assets at end of period | 131.4 | 125.7 | ' |
SRP | ' | ' | ' |
Change in Plan Assets [Roll Forward] | ' | ' | ' |
Company contributions | $0 | $0 | ' |
Employee_Benefits_Aggregate_In
Employee Benefits, Aggregate Information Related Only to the Underfunded Plans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $148.50 | $152.50 |
Aggregate accumulated benefit obligation | 138.4 | 139.3 |
Fair value of plan assets | $131.40 | $125.70 |
Employee_Benefits_Components_o
Employee Benefits, Components of Net Periodic Benefit Cost (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Amortization of prior service credit | $6.20 | ' | ' |
Retirement Plans | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service cost | 3.9 | 4 | 3.9 |
Interest cost | 5 | 5.8 | 6.4 |
Expected return on plan assets | -9.1 | -8.6 | -8 |
Amortization of prior service credit | 0 | 0 | 0 |
Amortization of unrecognized net loss | 2.1 | 2.1 | 1.2 |
Settlement charge | 1.7 | 0 | 0 |
Regulatory asset (increase) decrease | 0 | 0 | 0 |
Net periodic benefit cost | 3.6 | 3.3 | 3.5 |
PBOP | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service cost | 0.5 | 0.5 | 0.4 |
Interest cost | 2.1 | 2.4 | 2.6 |
Expected return on plan assets | -4.5 | -4.3 | -3.3 |
Amortization of prior service credit | -7.8 | -7.8 | -7.8 |
Amortization of unrecognized net loss | 0 | 0.1 | 0.7 |
Settlement charge | 0 | 0 | 0 |
Regulatory asset (increase) decrease | 0 | 0 | 4.2 |
Net periodic benefit cost | ($9.70) | ($9.10) | ($3.20) |
Pension Plan | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Future rate recovery | 'in excess of $6.0 million | ' | ' |
Employee_Benefits_Estimated_Fu
Employee Benefits, Estimated Future Benefit Payments (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Retirement Plans | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | $13.10 |
2015 | 10.4 |
2016 | 15.8 |
2017 | 16.2 |
2018 | 15.2 |
2019-2022 | 74.4 |
PBOP | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' |
2014 | 3.2 |
2015 | 3.2 |
2016 | 3.2 |
2017 | 3.2 |
2018 | 3.3 |
2019-2022 | $16.40 |
Employee_Benefits_WeightedAver
Employee Benefits, Weighted-Average Assumptions Used to Determine Benefit Obligations (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Retirement Plans | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 4.00% | 3.25% | ' |
Expected return on plan assets | 7.50% | 7.50% | 7.50% |
Expected return on plan assets | $9.10 | $8.60 | $8 |
Rate of compensation increase (in hundredths) | 3.50% | 3.50% | ' |
SRP | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 4.25% | 3.50% | ' |
Expected return on plan assets | 7.50% | 7.50% | 7.50% |
Rate of compensation increase (in hundredths) | 3.50% | 3.50% | ' |
PBOP | ' | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' |
Discount rate (in hundredths) | 4.50% | 3.90% | ' |
Expected return on plan assets | 5.30% | 5.30% | 4.64% |
Expected return on plan assets | $4.50 | $4.30 | $3.30 |
Rate of compensation increase (in hundredths) | 0.00% | 0.00% | ' |
Employee_Benefits_WeightedAver1
Employee Benefits, Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2013 | Sep. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Retirement Plans | ' | ' | ' | ' | ' | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ||
Discount rate | 4.10% | [1] | 3.25% | [1] | ' | 4.25% | 5.00% |
Expected return on plan assets | ' | ' | 7.50% | 7.50% | 7.50% | ||
Rate of compensation increase | ' | ' | 3.50% | 4.00% | 4.00% | ||
SRP | ' | ' | ' | ' | ' | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ||
Discount rate | ' | ' | 3.50% | 4.25% | 5.00% | ||
Expected return on plan assets | ' | ' | 7.50% | 7.50% | 7.50% | ||
Rate of compensation increase | ' | ' | 3.50% | 4.00% | 4.00% | ||
PBOP | ' | ' | ' | ' | ' | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ||
Discount rate | ' | ' | 3.90% | 4.70% | 5.38% | ||
Expected return on plan assets | ' | ' | 5.30% | 5.30% | 4.64% | ||
Rate of compensation increase | ' | ' | 0.00% | 0.00% | 0.00% | ||
[1] | Pension expense was remeasured at September 30, 2013, to reflect a settlement. |
Employee_Benefits_Effect_of_On
Employee Benefits, Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 8.50% | 8.50% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 5.00% | 5.00% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | '2022 | ' |
Annual increments for change | 0.50% | 0.50% |
PBOP | ' | ' |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | ' | ' |
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 1.9 | ' |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 0.1 | ' |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -1.6 | ' |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | -0.1 | ' |
Employee_Benefits_Master_Trust
Employee Benefits, Master Trust Pension and PBOP Fair Value Hierarchy (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
In Millions, unless otherwise specified | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | PBOP | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan | Pension Plan |
Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Corporate and other bonds | Tax exempt securities | Tax exempt securities | Tax exempt securities | Tax exempt securities | Tax exempt securities | Tax exempt securities | Tax exempt securities | Tax exempt securities | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Equity securities | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Short-term investments | Other assets | Other assets | Other assets | Other assets | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Fixed income mutual funds | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Asset-backed securities | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Hedge funds | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Limited Partnership: Private equity | Alternative Investments | ||||||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 3 | Fair Value, Inputs, Level 3 | Fair Value [Member] | Fair Value [Member] | ||||||||
Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets | $80.80 | $86.70 | $81.80 | $5.50 | $7.10 | $75.30 | $79.60 | $0 | $0 | $80.80 | $86.70 | $2.70 | $3.30 | $0 | $0 | $0 | $0 | $2.70 | $3.30 | $2.80 | $3.80 | $0 | $0 | $0 | $0 | $2.80 | $3.80 | $0 | $0 | $19.80 | $21 | $0 | $0 | $19.80 | $21 | $0 | $0 | $16.90 | $20.70 | $0 | $0 | $16.90 | $20.70 | $0 | $0 | $38.60 | $37.90 | $0 | $0 | $38.60 | $37.90 | $131.40 | $125.70 | $149.10 | $151.70 | $67 | $56.30 | $41.40 | $39.10 | $257.50 | $247.10 | ' | $44.60 | $37.20 | $0 | $0 | $0 | $0 | $44.60 | $37.20 | $4.40 | $4.20 | $0 | $0 | $0 | $0 | $4.40 | $4.20 | $0 | $3.40 | $0 | $3.40 | $100.10 | $110.30 | $0.30 | $0 | $0 | $0 | $100.40 | $110.30 | $0 | $0 | $5.80 | $3 | $0 | $0 | $5.80 | $3 | $0 | $0 | $57.50 | $53.30 | $29.70 | $32 | $87.20 | $85.30 | $0 | $0 | $0 | $0 | $11.70 | $7.10 | $11.70 | $7.10 | ' |
Master Trust percentage of pension plan assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | 50.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% |
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% |
Amount committed to future capital calls in exchange for an ownership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocation to fixed income securities | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefits_Fair_Value_M
Employee Benefits, Fair Value Measurement Using Significant Unobservable Inputs, Master Trust (Details) (Pension Plan, Fair Value, Inputs, Level 3, Fair Value, Measurements, Recurring, USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Limited Partnership: Hedge funds | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets at beginning of period | $32 | $25.50 |
Actual return on assets still held | 6.2 | 3.8 |
Actual return on assets sold | -0.3 | -0.1 |
Purchases, sales and settlements | -8.2 | 2.8 |
Defined Benefit Plan, Transfers Between Measurement Levels | 0 | 0 |
Fair value of plan assets at end of period | 29.7 | 32 |
Limited Partnership: Private equity | ' | ' |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' |
Fair value of plan assets at beginning of period | 7.1 | 7.4 |
Actual return on assets still held | 2.1 | 0.5 |
Actual return on assets sold | -0.3 | 0.5 |
Purchases, sales and settlements | 2.8 | -1.3 |
Defined Benefit Plan, Transfers Between Measurement Levels | 0 | 0 |
Fair value of plan assets at end of period | $11.70 | $7.10 |
Employee_Benefits_Summary_of_A
Employee Benefits, Summary of Activity in Unit Appreciation Rights and All Unit-Based Incentive Compensation Plans (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Jan. 20, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 07, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||
LTIP | LTIP | LTIP | LTIP | Cash Bonus Plan | Cash Bonus Plan | Cash Bonus Plan | Unit Appreciation Rights | Unit Appreciation Rights | Unit Appreciation Rights | Unit Appreciation Rights | Unit Appreciation Rights | Unit Appreciation Rights | SLTIP | SLTIP | SLTIP | |||||||||||||
Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Outstanding balance, beginning (in units) | ' | 192,595 | [1] | 218,089 | [1],[2] | ' | ' | ' | ' | ' | ' | ' | 605,747 | [3] | 656,517 | [3] | ' | 145 | [1] | 262.5 | [1] | ' | ||||||
Granted (in units) | ' | 220,808 | 22,814 | ' | ' | ' | ' | 293,809 | [4] | 26,082 | [5] | 6,786 | [6] | ' | ' | ' | ' | ' | ' | |||||||||
Paid (in units) | ' | ' | -24,270 | ' | ' | ' | ' | ' | ' | ' | -359,148 | ' | ' | -145 | -116.5 | ' | ||||||||||||
Forfeited (in units) | ' | -33,355 | -24,038 | ' | ' | ' | ' | ' | ' | ' | -61,400 | -83,638 | ' | ' | -1 | ' | ||||||||||||
Outstanding balance, ending (in units) | ' | 380,048 | [1] | 192,595 | [1] | 218,089 | [1],[2] | ' | ' | ' | ' | ' | ' | 479,008 | [3] | 605,747 | [3] | 656,517 | [3] | 0 | 145 | [1] | 262.5 | [1] | ||||
Share based compensation arrangement by share based payment award equity instruments other than options, vested in period, to be paid in subsequent period | 24,270 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Total value of Phantom Common Units which vested on December 16, 2011 | $0.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Unit Appreciation Rights and All Unit-Based Incentive Compensation Plans, Units, Fair Value [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Outstanding balance, beginning | ' | 4.7 | [1] | 5.3 | [1] | ' | ' | ' | ' | ' | ' | ' | 1.7 | [3] | 3 | [3] | ' | 6.9 | [1] | 12.4 | [1] | ' | ||||||
Granted | ' | 5.7 | 0.6 | ' | ' | ' | ' | 1.8 | [4] | 0.1 | [5] | 0 | [6] | ' | ' | ' | ' | ' | ' | |||||||||
Paid | ' | ' | -0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.2 | -5 | ' | ||||||||||||
Forfeited | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ||||||||||||
Outstanding balance, ending | ' | 10.9 | [1] | 4.7 | [1] | 5.3 | [1] | ' | ' | ' | ' | ' | ' | 1.9 | [3] | 1.7 | [3] | 3 | [3] | 0 | 6.9 | [1] | 12.4 | [1] | ||||
Unit Appreciation Rights and All Unit-Based Incentive Compensation Plans, Units, Weighted-Average Vesting Period [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Outstanding balance, beginning (in years) | ' | 2 | [1] | 2.9 | [1] | ' | ' | ' | ' | ' | ' | ' | 1.4 | [3] | 2.3 | [3] | ' | 0.2 | [1] | 0.8 | [1] | ' | ||||||
Granted (in years) | ' | 2.8 | 2.4 | ' | ' | ' | ' | 2.8 | [4] | 2.2 | [5] | 2.7 | [6] | ' | ' | ' | ' | ' | ' | |||||||||
Outstanding balance, ending (in years) | ' | 1.5 | [1] | 2 | [1] | 2.9 | [1] | ' | ' | ' | ' | ' | ' | 1.5 | [3] | 1.4 | [3] | 2.3 | [3] | 0 | 0.2 | [1] | 0.8 | [1] | ||||
Unit Appreciation Rights, Weighted-Average Exercise Price [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Outstanding balance, beginning (in dollars per unit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.18 | [3] | 29.28 | [3] | ' | ' | ' | ' | ||||||||||
Granted (in dollars per unit) | ' | ' | ' | ' | ' | ' | ' | 27.57 | [4] | 27.9 | [5] | 26.46 | [6] | ' | ' | ' | ' | ' | ' | |||||||||
Outstanding balance, ending (in dollars per unit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27.47 | [3] | 29.18 | [3] | 29.28 | [3] | ' | ' | ' | |||||||||
Compensation expense | ' | 3.2 | 1.5 | 0.3 | 0.5 | 0.6 | 0.5 | ' | ' | ' | 0.9 | 0.3 | 0.4 | 0.2 | 2.3 | 2.5 | ||||||||||||
Unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 0.8 | ' | ' | ' | ' | ||||||||||||
Deferred Compensation Cash-based Arrangements, Liability, Current | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 3,525,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | ' | 7,484 | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | ' | $26.72 | $27.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | 3,506,224 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Closing market price of the common unit | ' | $25.52 | $24.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Total estimated remaining unrecognized compensation expense related to the Phantom Common Units outstanding | ' | $6.10 | $3.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
[1] | Represents fair value and remaining weighted-average vesting period of outstanding awards at the end of the period. | |||||||||||||||||||||||||||
[2] | Includes 24,270 of Phantom Common Units with a total value of $0.8 million which vested on December 16, 2011 and were paid in cash on January 20, 2012. | |||||||||||||||||||||||||||
[3] | Represents weighted-average exercise price, remaining weighted-average vesting period and total fair value of outstanding awards at the end of the period. | |||||||||||||||||||||||||||
[4] | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.57, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on February 7, 2013. | |||||||||||||||||||||||||||
[5] | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $27.90, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on September 30, 2012. (4) | |||||||||||||||||||||||||||
[6] | Represents the weighted-average exercise price and weighted-average vesting period of awards at grant date. The exercise price for each UAR granted was set at $26.46, the closing price of the Partnership’s common units on the New York Stock Exchange on the grant date on March 31, 2012. |
Employee_Benefits_Valuation_As
Employee Benefits, Valuation Assumptions Under Unit Appreciation Rights (Details) (Unit Appreciation Rights) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Minimum [Member] | ' | ' | ||
Unit-based Compensation Arrangement by Unit-based Payment Award [Line Items] | ' | ' | ||
Expected life (years) | '2 years 8 months | '2 years 2 months | ||
Risk free interest rate, minimum (percent) | 0.35% | [1] | 0.29% | [1] |
Expected volatility, minimum (percent) | 32.00% | [2] | 31.00% | [2] |
Maximum [Member] | ' | ' | ||
Unit-based Compensation Arrangement by Unit-based Payment Award [Line Items] | ' | ' | ||
Expected life (years) | '2 years 8 months | '2 years 7 months | ||
Risk free interest rate, maximum (percent) | 0.35% | [1] | 0.47% | [1] |
Expected volatility, maximum (percent) | 32.00% | [2] | 34.00% | [2] |
[1] | Based on the U.S. Treasury yield curve corresponding to the remaining life of the UAR. | |||
[2] | Based on the historical volatility of the Partnership’s common units. |
Cash_Distributions_and_Net_Inc2
Cash Distributions and Net Income per Unit (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Schedule of Partnership Quarterly Distribution Allocation [Line Items] | ' | ' | ' | |
General partner interest (in hundredths) | 2.00% | 2.00% | 2.00% | |
Cash Distribution [Abstract] | ' | ' | ' | |
Class B unitholders maximum quarterly distribution per unit (in dollars per unit) | $0.30 | ' | ' | |
First Target Distribution Range [Member] | ' | ' | ' | |
Cash Distribution [Abstract] | ' | ' | ' | |
Maximum target distribution amount (in dollars per share) | $0.40 | ' | ' | |
Marginal Percentage Interest in Distributions - Limited Partner Unitholders | 98.00% | [1] | ' | ' |
Marginal Percentage Interest in Distributions - General Partner and IDRs Unitholders | 2.00% | ' | ' | |
Second Target Distribution Range [Member] [Member] | ' | ' | ' | |
Cash Distribution [Abstract] | ' | ' | ' | |
Minimum target distribution amount (in dollars per share) | $0.40 | ' | ' | |
Maximum target distribution amount (in dollars per share) | $0.44 | ' | ' | |
Marginal Percentage Interest in Distributions - Limited Partner Unitholders | 85.00% | [1] | ' | ' |
Marginal Percentage Interest in Distributions - General Partner and IDRs Unitholders | 15.00% | ' | ' | |
Third Target Distribution Range [Member] | ' | ' | ' | |
Cash Distribution [Abstract] | ' | ' | ' | |
Minimum target distribution amount (in dollars per share) | $0.44 | ' | ' | |
Maximum target distribution amount (in dollars per share) | $0.53 | ' | ' | |
Marginal Percentage Interest in Distributions - Limited Partner Unitholders | 75.00% | [1] | ' | ' |
Marginal Percentage Interest in Distributions - General Partner and IDRs Unitholders | 25.00% | ' | ' | |
Thereafter Target Distribution Range [Member] | ' | ' | ' | |
Cash Distribution [Abstract] | ' | ' | ' | |
Minimum target distribution amount (in dollars per share) | $0.53 | ' | ' | |
Marginal Percentage Interest in Distributions - Limited Partner Unitholders | 50.00% | [1] | ' | ' |
Marginal Percentage Interest in Distributions - General Partner and IDRs Unitholders | 50.00% | ' | ' | |
[1] | The class B unitholders participated in distributions on a pari passu basis with the Partnership’s common units up to $0.30 per unit per quarter. The class B units did not participate in quarterly distributions above $0.30 per unit and converted into common units on a one-for-one basis on October 9, 2013. |
Cash_Distributions_and_Net_Inc3
Cash Distributions and Net Income per Unit Distributions Made to Members or Limited Partners (Details) (USD $) | 0 Months Ended | 3 Months Ended | |||||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Oct. 09, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | ||||||||||||
Distribution Made to Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Payment Date | ' | 14-Nov-13 | 15-Aug-13 | 16-May-13 | 28-Feb-13 | 15-Nov-12 | 16-Aug-12 | 17-May-12 | 23-Feb-12 | 17-Nov-11 | 18-Aug-11 | 19-May-11 | 24-Feb-11 | ||||||||||||
Distribution per Unit | ' | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.53 | $0.52 | $0.52 | ||||||||||||
Amount Paid to Common Unitholders | ' | $129.50 | $117.30 | $110.60 | $110.60 | $110.60 | $104.60 | $98.50 | $98.10 | $92.70 | $92.20 | $88.60 | $88.20 | ||||||||||||
Amount Paid to Class B Unitholder | ' | 0 | [1] | 6.9 | 6.8 | 6.9 | 6.9 | 6.9 | 6.8 | 6.8 | 6.9 | 6.9 | 6.9 | 6.8 | |||||||||||
Amount Paid to General Partner (Including IDRs) | ' | 12.4 | [2] | 11.4 | [2] | 10.7 | [2] | 10.8 | [2] | 10.8 | [2] | 10.2 | [2] | 9.6 | [2] | 9.1 | [2] | 8.2 | [2] | 7.8 | [2] | 7.4 | [2] | 7.3 | [2] |
Distributions paid on behalf of IDRs | ' | $34.60 | ' | ' | ' | $30.10 | ' | ' | ' | $22.30 | ' | ' | ' | ||||||||||||
Conversion of Stock, Shares Converted | 22.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
[1] | On October 9, 2013, all of the 22.9 million Class B units were converted into common units on a one-for-one basis, pursuant to the terms of the partnership agreement. | ||||||||||||||||||||||||
[2] | In 2013, 2012 and 2011, the Partnership paid $34.6 million, $30.1 million and $22.3 million in distributions on behalf of IDRs. |
Cash_Distributions_and_Net_Inc4
Cash Distributions and Net Income per Unit Reconciliation of Net Income and the Assumed Allocation of Net Income (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Oct. 09, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation And Allocation of Net Income By Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class B unitholders' maximum quarterly distribution per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.30 | ' | ' |
Conversion of Stock, Shares Converted | 22.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | $16.70 | $61.70 | $70.40 | $101.40 | $90.10 | $58.20 | $65.10 | $92.60 | $250.20 | $306 | $217 |
Net loss attributable to noncontrolling interests | ' | -2.8 | -0.6 | -0.1 | 0 | ' | ' | ' | ' | -3.5 | 0 | 0 |
Add: Net loss attributable to predecessor equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.2 | 3.2 |
Net income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 308.2 | 220.2 |
Declared distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | 430.5 | 493.1 | 431.6 |
Assumed allocation of undistributed net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -176.8 | -184.9 | -211.4 |
Assumed allocation of net income attributable to limited partner unitholders and general partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 308.2 | 220.2 |
Allocation for diluted earnings per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Assumed allocation of net income attributable to limited partner unitholders and general partner - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | ' | ' |
Common Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation And Allocation of Net Income By Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | 381.8 | 424.3 | 371.6 |
Assumed allocation of undistributed net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -160.5 | -162 | -183 |
Assumed allocation of net income attributable to limited partner unitholders and general partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | 221.3 | 262.3 | 188.6 |
Allocation for diluted earnings per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4.6 | ' | ' |
Assumed allocation of net income attributable to limited partner unitholders and general partner - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 216.7 | ' | ' |
Weighted-average units outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | 220.5 | 191.9 | 173.3 |
Weighted-average units outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 226.8 | ' | ' |
Net income per unit - basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1.37 | $1.09 |
Net income per unit - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.96 | ' | ' |
Class B Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation And Allocation of Net Income By Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.7 | 27.5 | 27.5 |
Assumed allocation of undistributed net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12.8 | -19.2 | -24.2 |
Assumed allocation of net income attributable to limited partner unitholders and general partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 8.3 | 3.3 |
Allocation for diluted earnings per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.6 | ' | ' |
Assumed allocation of net income attributable to limited partner unitholders and general partner - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | ' |
Weighted-average units outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17.6 | 22.9 | 22.9 |
Weighted-average units outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.3 | ' | ' |
Net income per unit - basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.05 | $0.36 | $0.14 |
Net income per unit - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.48 | ' | ' |
General Partner And IDRS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation And Allocation of Net Income By Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 | 41.3 | 32.5 |
Assumed allocation of undistributed net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | -3.7 | -4.2 |
Assumed allocation of net income attributable to limited partner unitholders and general partner | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.5 | 37.6 | 28.3 |
Allocation for diluted earnings per unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Assumed allocation of net income attributable to limited partner unitholders and general partner - diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | $31.50 | ' | ' |
Cash_Distributions_and_Net_Inc5
Cash Distributions and Net Income per Unit Subsequent Event (Details) (Subsequent Event [Member], Scenario, Forecast [Member], USD $) | Feb. 10, 2014 |
Subsequent Event [Member] | Scenario, Forecast [Member] | ' |
Subsequent Event [Line Items] | ' |
Dividends Payable, Amount Per Share | $0.10 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
State and Local Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State | ' | ' | ' | ' | ' | ' | ' | ' | $0.40 | ($0.20) | $0.30 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | -0.2 | 0.3 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred State and Local Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.7 | 0.1 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.7 | 0.1 |
Income taxes | $0.20 | $0 | $0.10 | $0.20 | $0.10 | $0.10 | $0.10 | $0.20 | $0.50 | $0.50 | $0.40 |
Credit_Risk_Details
Credit Risk (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $312,900,000 | $275,500,000 | $288,700,000 | $328,500,000 | $325,700,000 | $270,600,000 | $275,800,000 | $312,900,000 | $1,205,600,000 | $1,185,000,000 | $1,142,900,000 |
Gas Loaned to Customers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gas Balancing Volume Amount (in MMbtu) | 19,600 | ' | ' | ' | 11,700 | ' | ' | ' | 19,600 | 11,700 | ' |
Gas loaned to customers [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average market price of gas assumed during the period (in dollars per MMBtu) | ' | ' | ' | ' | ' | ' | ' | ' | 4.17 | 3.32 | ' |
Gas Imbalance To Subsidiaries Asset Liability | 81,700,000 | ' | ' | ' | 38,800,000 | ' | ' | ' | 81,700,000 | 38,800,000 | ' |
Natural Gas Liquids Balancing Volume (in MMbbls) | 0 | ' | ' | ' | 100,000 | ' | ' | ' | 0 | 100,000 | ' |
Natural Gas Liquids Imbalance to Subsidiaries Asset Liability | 0 | ' | ' | ' | 6,800,000 | ' | ' | ' | 0 | 6,800,000 | ' |
Devon Gas Services, LP [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Major customer revenue as a percentage of total revenue (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 12.00% | 12.00% |
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | $127,100,000 | $133,300,000 | $134,200,000 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 29-May-13 | Dec. 31, 2013 | Dec. 31, 2013 |
Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipeline Partners, LP [Member] | Boardwalk Pipelines Holding Company | ||||
Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | Boardwalk Bluegrass and Boardwalk Moss Lake [Member] | ||||
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | $8.30 | $8.30 | $18.30 | ' | ' | ' |
General partner interest (in hundredths) | 2.00% | 2.00% | 2.00% | ' | ' | ' |
Cash dividends paid to Parent Company | 296.8 | 285.7 | 273.3 | ' | ' | ' |
Variable Interest Entity, Financial or Other Support, Amount | ' | ' | ' | $10 | $11.90 | $90 |
Supplemental_Disclosure_of_Cas2
Supplemental Disclosure of Cash Flow Information (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Cash paid during the period for: | ' | ' | ' | ||
Interest (net of amount capitalized) (1) | $151 | $169.80 | [1] | $172.70 | [1] |
Income taxes, net | 0.3 | 0.2 | 0.3 | ||
Non-cash adjustments: | ' | ' | ' | ||
Accounts payable and PPE | 38.1 | 37.9 | [2] | 23.8 | |
Capital Lease Obligations Incurred | 10.5 | 0 | 0 | ||
Payments for (Proceeds from) Derivative Instrument, Financing Activities | ' | 9.6 | ' | ||
Early redemption premium paid | ' | ' | $21 | ||
[1] | The 2012 period includes payments of $9.6 million related to the settlements of interest rate derivatives and the 2011 period includes premium payments of $21.0 million related to the 2013 Notes redemption. | ||||
[2] | The 2012 amount was restated to include $1.9 million previously excluded. |
Supplemental_Disclosure_of_Cas3
Supplemental Disclosure of Cash Flow Information Prior Period Adjustment Restatement (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounts payable and PPE | $38.10 | $37.90 | [1] | $23.80 |
Restatement Adjustment [Member] | ' | ' | ' | |
Accounts payable and PPE | ' | $1.90 | ' | |
[1] | The 2012 amount was restated to include $1.9 million previously excluded. |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues | $312.90 | $275.50 | $288.70 | $328.50 | $325.70 | $270.60 | $275.80 | $312.90 | $1,205.60 | $1,185 | $1,142.90 |
Operating expenses | 254.4 | 172.3 | 177.6 | 186.8 | 195.5 | 169.1 | 167.3 | 179.3 | 791.1 | 711.2 | 753.7 |
Operating income | 58.5 | 103.2 | 111.1 | 141.7 | 130.2 | 101.5 | 108.5 | 133.6 | 414.5 | 473.8 | 389.2 |
Interest expense, net | 41.1 | 40.9 | 40.6 | 40.3 | 40.1 | 43.3 | 43.4 | 40.9 | ' | ' | ' |
Other (income) expense | 0.5 | 0.6 | 0 | -0.2 | -0.1 | -0.1 | -0.1 | -0.1 | -0.3 | -0.4 | -0.9 |
Income before income taxes | 16.9 | 61.7 | 70.5 | 101.6 | 90.2 | 58.3 | 65.2 | 92.8 | 250.7 | 306.5 | 217.4 |
Income taxes | 0.2 | 0 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.5 | 0.4 |
Net Income | 16.7 | 61.7 | 70.4 | 101.4 | 90.1 | 58.2 | 65.1 | 92.6 | 250.2 | 306 | 217 |
Net loss attributable to noncontrolling interests | -2.8 | -0.6 | -0.1 | 0 | ' | ' | ' | ' | -3.5 | 0 | 0 |
Net income attributable to controlling interests | $19.50 | $62.30 | $70.50 | $101.40 | ' | ' | ' | ' | $253.70 | $306 | $217 |
Basic net income per unit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common units | $0.08 | $0.27 | $0.28 | $0.42 | $0.38 | $0.26 | $0.30 | $0.43 | ' | ' | ' |
Class B units | ($0.02) | ($0.32) | $0.03 | $0.19 | $0.14 | ($0.02) | $0.07 | $0.19 | ' | ' | ' |
Diluted net income per unit: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common units | $0.08 | $0.21 | $0.28 | $0.42 | $0.38 | $0.26 | $0.30 | $0.43 | ' | ' | ' |
Class B units | $0 | $0 | $0.03 | $0.19 | $0.14 | ($0.02) | $0.07 | $0.19 | ' | ' | ' |
Guarantee_of_Securities_of_Sub2
Guarantee of Securities of Subsidiaries Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $28.50 | $3.90 | $21.90 | $55 |
Receivables | 119.2 | 112.2 | ' | ' |
Receivables - affiliate | 1.1 | ' | ' | ' |
Gas and liquids stored underground | 0.7 | 10.8 | ' | ' |
Prepayments | 12.9 | 15.2 | ' | ' |
Advances to affiliates | 0 | 0 | ' | ' |
Other current assets | 14.7 | 14.9 | ' | ' |
Total current assets | 177.1 | 157 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Property, plant and equipment, gross | 8,723.30 | 8,423.30 | ' | ' |
Less—accumulated depreciation and amortization | 1,489.20 | 1,234.10 | ' | ' |
Property, plant and equipment, net | 7,234.10 | 7,189.20 | ' | ' |
Other noncurrent assets | 424.7 | 516.3 | ' | ' |
Advances to affiliates – noncurrent | 0 | 0 | ' | ' |
Investment in unconsolidated affiliates | 78.6 | 0 | ' | ' |
Total other assets | 503.3 | 516.3 | ' | ' |
Total Assets | 7,914.50 | 7,862.50 | ' | ' |
Payables | 70.8 | 89 | ' | ' |
Payable to affiliates | 1.2 | 2.7 | ' | ' |
Advances from affiliates | 0 | 0 | ' | ' |
Other current liabilities | 164 | 164.1 | ' | ' |
Total current liabilities | 236 | 255.8 | ' | ' |
Total long-term debt and capital lease obligation | 3,424.40 | 3,539.20 | ' | ' |
Payable to affiliate - noncurrent | 16 | 16 | ' | ' |
Advances from affiliates - noncurrent | 0 | 0 | ' | ' |
Other noncurrent liabilities | 174.7 | 174.4 | ' | ' |
Total other liabilities and deferred credits | 190.7 | 190.4 | ' | ' |
Total partners’ capital/member’s equity | 3,976.90 | 3,877.10 | ' | ' |
Noncontrolling interest | 86.5 | 0 | ' | ' |
Total Equity | 4,063.40 | 3,877.10 | 3,487 | 3,241.40 |
Total Liabilities and Partners' Capital/Member's Equity | 7,914.50 | 7,862.50 | ' | ' |
Parent Guarantor | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0.2 | 0.1 | 0.5 | 0 |
Receivables | 0 | 0 | ' | ' |
Receivables - affiliate | 0.1 | ' | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0.3 | 0 | ' | ' |
Advances to affiliates | 0 | 0 | ' | ' |
Other current assets | 0 | 0.4 | ' | ' |
Total current assets | 0.6 | 0.5 | ' | ' |
Investment in consolidated subsidiaries | 1,480.80 | 1,257 | ' | ' |
Property, plant and equipment, gross | 0.6 | 0.6 | ' | ' |
Less—accumulated depreciation and amortization | 0.6 | 0.6 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 0.3 | 0.1 | ' | ' |
Advances to affiliates – noncurrent | 2,512.10 | 2,638.50 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Total other assets | 2,512.40 | 2,638.60 | ' | ' |
Total Assets | 3,993.80 | 3,896.10 | ' | ' |
Payables | 0.2 | 0.1 | ' | ' |
Payable to affiliates | 0.7 | 2.7 | ' | ' |
Advances from affiliates | 0 | 0 | ' | ' |
Other current liabilities | 0 | 0.2 | ' | ' |
Total current liabilities | 0.9 | 3 | ' | ' |
Total long-term debt and capital lease obligation | 0 | 0 | ' | ' |
Payable to affiliate - noncurrent | 16 | 16 | ' | ' |
Advances from affiliates - noncurrent | 0 | 0 | ' | ' |
Other noncurrent liabilities | 0 | 0 | ' | ' |
Total other liabilities and deferred credits | 16 | 16 | ' | ' |
Total partners’ capital/member’s equity | 3,976.90 | 3,877.10 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | 3,976.90 | 3,877.10 | ' | ' |
Total Liabilities and Partners' Capital/Member's Equity | 3,993.80 | 3,896.10 | ' | ' |
Subsidiary Issuer | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 9.2 | 1 | 10.7 | 52.6 |
Receivables | 0 | 0 | ' | ' |
Receivables - affiliate | 0.1 | ' | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0 | 0 | ' | ' |
Advances to affiliates | 0 | 0 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 9.3 | 1 | ' | ' |
Investment in consolidated subsidiaries | 6,138.30 | 5,785.70 | ' | ' |
Property, plant and equipment, gross | 0 | 0 | ' | ' |
Less—accumulated depreciation and amortization | 0 | 0 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 3.7 | 4.8 | ' | ' |
Advances to affiliates – noncurrent | 168.7 | 84.4 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Total other assets | 172.4 | 89.2 | ' | ' |
Total Assets | 6,320 | 5,875.90 | ' | ' |
Payables | 0 | 0 | ' | ' |
Payable to affiliates | 0 | 0 | ' | ' |
Advances from affiliates | 194.4 | 2 | ' | ' |
Other current liabilities | 19.7 | 16.9 | ' | ' |
Total current liabilities | 214.1 | 18.9 | ' | ' |
Total long-term debt and capital lease obligation | 1,379.90 | 1,378.90 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | 3,245.20 | 3,221.10 | ' | ' |
Other noncurrent liabilities | 0 | 0 | ' | ' |
Total other liabilities and deferred credits | 3,245.20 | 3,221.10 | ' | ' |
Total partners’ capital/member’s equity | 1,480.80 | 1,257 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | 1,480.80 | 1,257 | ' | ' |
Total Liabilities and Partners' Capital/Member's Equity | 6,320 | 5,875.90 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 19.1 | 2.8 | 10.7 | 2.4 |
Receivables | 119.2 | 119.5 | ' | ' |
Receivables - affiliate | 14.3 | ' | ' | ' |
Gas and liquids stored underground | 0.7 | 10.8 | ' | ' |
Prepayments | 12.6 | 15.2 | ' | ' |
Advances to affiliates | 194.4 | 2 | ' | ' |
Other current assets | 23.8 | 18.1 | ' | ' |
Total current assets | 384.1 | 168.4 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Property, plant and equipment, gross | 8,722.70 | 8,422.70 | ' | ' |
Less—accumulated depreciation and amortization | 1,488.60 | 1,233.50 | ' | ' |
Property, plant and equipment, net | 7,234.10 | 7,189.20 | ' | ' |
Other noncurrent assets | 420.7 | 511.4 | ' | ' |
Advances to affiliates – noncurrent | 733.1 | 582.6 | ' | ' |
Investment in unconsolidated affiliates | 78.6 | ' | ' | ' |
Total other assets | 1,232.40 | 1,094 | ' | ' |
Total Assets | 8,850.60 | 8,451.60 | ' | ' |
Payables | 70.6 | 96.2 | ' | ' |
Payable to affiliates | 13.9 | 0 | ' | ' |
Advances from affiliates | 0 | 0 | ' | ' |
Other current liabilities | 153.3 | 150.4 | ' | ' |
Total current liabilities | 237.8 | 246.6 | ' | ' |
Total long-term debt and capital lease obligation | 2,044.50 | 2,160.30 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | 168.7 | 84.4 | ' | ' |
Other noncurrent liabilities | 174.8 | 174.6 | ' | ' |
Total other liabilities and deferred credits | 343.5 | 259 | ' | ' |
Total partners’ capital/member’s equity | 6,138.30 | 5,785.70 | ' | ' |
Noncontrolling interest | 86.5 | 0 | ' | ' |
Total Equity | 6,224.80 | 5,785.70 | ' | ' |
Total Liabilities and Partners' Capital/Member's Equity | 8,850.60 | 8,451.60 | ' | ' |
Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables | 0 | -7.3 | ' | ' |
Receivables - affiliate | -13.4 | ' | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0 | 0 | ' | ' |
Advances to affiliates | -194.4 | -2 | ' | ' |
Other current assets | -9.1 | -3.6 | ' | ' |
Total current assets | -216.9 | -12.9 | ' | ' |
Investment in consolidated subsidiaries | -7,619.10 | -7,042.70 | ' | ' |
Property, plant and equipment, gross | 0 | 0 | ' | ' |
Less—accumulated depreciation and amortization | 0 | 0 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 0 | 0 | ' | ' |
Advances to affiliates – noncurrent | -3,413.90 | -3,305.50 | ' | ' |
Investment in unconsolidated affiliates | 0 | ' | ' | ' |
Total other assets | -3,413.90 | -3,305.50 | ' | ' |
Total Assets | -11,249.90 | -10,361.10 | ' | ' |
Payables | 0 | -7.3 | ' | ' |
Payable to affiliates | -13.4 | 0 | ' | ' |
Advances from affiliates | -194.4 | -2 | ' | ' |
Other current liabilities | -9 | -3.4 | ' | ' |
Total current liabilities | -216.8 | -12.7 | ' | ' |
Total long-term debt and capital lease obligation | 0 | 0 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | -3,413.90 | -3,305.50 | ' | ' |
Other noncurrent liabilities | -0.1 | -0.2 | ' | ' |
Total other liabilities and deferred credits | -3,414 | -3,305.70 | ' | ' |
Total partners’ capital/member’s equity | -7,619.10 | -7,042.70 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | -7,619.10 | -7,042.70 | ' | ' |
Total Liabilities and Partners' Capital/Member's Equity | ($11,249.90) | ($10,361.10) | ' | ' |
Guarantee_of_Securities_of_Sub3
Guarantee of Securities of Subsidiaries Statements of Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transportation | ' | ' | ' | ' | ' | ' | ' | ' | $1,028 | $1,058.30 | $1,067.20 |
Parking and lending | ' | ' | ' | ' | ' | ' | ' | ' | 23.9 | 28 | 12 |
Storage | ' | ' | ' | ' | ' | ' | ' | ' | 110.9 | 84.7 | 52.2 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 42.8 | 14 | 11.5 |
Total operating revenues | 312.9 | 275.5 | 288.7 | 328.5 | 325.7 | 270.6 | 275.8 | 312.9 | 1,205.60 | 1,185 | 1,142.90 |
Operating Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fuel and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 93.4 | 79.4 | 102.8 |
Operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | 186.5 | 167.2 | 175.2 |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | 117.4 | 115.3 | 137.2 |
Other operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 393.8 | 349.3 | 338.5 |
Total operating costs and expenses | 254.4 | 172.3 | 177.6 | 186.8 | 195.5 | 169.1 | 167.3 | 179.3 | 791.1 | 711.2 | 753.7 |
Operating (loss) income | 58.5 | 103.2 | 111.1 | 141.7 | 130.2 | 101.5 | 108.5 | 133.6 | 414.5 | 473.8 | 389.2 |
Other Deductions (Income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 163.4 | 161.5 | 151.9 |
Interest expense - affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 6.9 | 8 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 13.2 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | -0.7 | -0.4 |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 0 | 0 |
Miscellaneous other income | 0.5 | 0.6 | 0 | -0.2 | -0.1 | -0.1 | -0.1 | -0.1 | -0.3 | -0.4 | -0.9 |
Total other deductions | ' | ' | ' | ' | ' | ' | ' | ' | 163.8 | 167.3 | 171.8 |
Income before income taxes | 16.9 | 61.7 | 70.5 | 101.6 | 90.2 | 58.3 | 65.2 | 92.8 | 250.7 | 306.5 | 217.4 |
Income taxes | 0.2 | 0 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.5 | 0.5 | 0.4 |
Net Income | 16.7 | 61.7 | 70.4 | 101.4 | 90.1 | 58.2 | 65.1 | 92.6 | 250.2 | 306 | 217 |
Net loss attributable to noncontrolling interests | -2.8 | -0.6 | -0.1 | 0 | ' | ' | ' | ' | -3.5 | 0 | 0 |
Net income attributable to controlling interests | 19.5 | 62.3 | 70.5 | 101.4 | ' | ' | ' | ' | 253.7 | 306 | 217 |
Parent Guarantor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Parking and lending | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Storage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fuel and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 0.5 | -0.3 |
Other operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 0.3 | 0.3 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.8 | 0 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -0.8 | 0 |
Other Deductions (Income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0.1 |
Interest expense - affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -33.6 | -35.6 | -31.6 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -220.3 | -271.2 | -185.5 |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Miscellaneous other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total other deductions | ' | ' | ' | ' | ' | ' | ' | ' | -253.9 | -306.8 | -217 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 306 | 217 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 306 | 217 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Net income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | ' | ' |
Subsidiary Issuer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Parking and lending | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Storage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fuel and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 0 | 0 |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | 0 | 0 |
Other operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 0 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 0 | 0 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -1.2 | 0 | 0 |
Other Deductions (Income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 72.7 | 63.1 | 64.4 |
Interest expense - affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 41.3 | 52.9 | 46.1 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -335.5 | -387.2 | -296 |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Miscellaneous other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total other deductions | ' | ' | ' | ' | ' | ' | ' | ' | -221.5 | -271.2 | -185.5 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 220.3 | 271.2 | 185.5 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 220.3 | 271.2 | 185.5 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Net income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 220.3 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transportation | ' | ' | ' | ' | ' | ' | ' | ' | 1,116.40 | 1,147.50 | 1,165.80 |
Parking and lending | ' | ' | ' | ' | ' | ' | ' | ' | 24 | 28.7 | 12.8 |
Storage | ' | ' | ' | ' | ' | ' | ' | ' | 111 | 85.4 | 52.2 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 42.8 | 14 | 11.5 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,294.20 | 1,275.60 | 1,242.30 |
Operating Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fuel and transportation | ' | ' | ' | ' | ' | ' | ' | ' | 182 | 170 | 202.2 |
Operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | 186.2 | 167.2 | 175.2 |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | 116.7 | 114.8 | 137.5 |
Other operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 393.4 | 349 | 338.2 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 878.3 | 801 | 853.1 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 415.9 | 474.6 | 389.2 |
Other Deductions (Income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 90.7 | 98.4 | 87.4 |
Interest expense - affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -7.7 | -10.4 | -6.5 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.2 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | -0.7 | -0.4 |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | ' | ' |
Miscellaneous other income | ' | ' | ' | ' | ' | ' | ' | ' | -0.3 | -0.4 | -0.9 |
Total other deductions | ' | ' | ' | ' | ' | ' | ' | ' | 83.4 | 86.9 | 92.8 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 332.5 | 387.7 | 296.4 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | 0.5 | 0.4 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 387.2 | 296 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | ' | ' |
Net income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 335.5 | ' | ' |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transportation | ' | ' | ' | ' | ' | ' | ' | ' | -88.4 | -89.2 | -98.6 |
Parking and lending | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.7 | -0.8 |
Storage | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.7 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | -88.6 | -90.6 | -99.4 |
Operating Costs and Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fuel and transportation | ' | ' | ' | ' | ' | ' | ' | ' | -88.6 | -90.6 | -99.4 |
Operation and maintenance | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | -88.6 | -90.6 | -99.4 |
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other Deductions (Income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest expense - affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on early retirement of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 555.8 | 658.4 | 481.5 |
Equity losses in unconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Miscellaneous other income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total other deductions | ' | ' | ' | ' | ' | ' | ' | ' | 555.8 | 658.4 | 481.5 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -555.8 | -658.4 | -481.5 |
Income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | -555.8 | -658.4 | -481.5 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Net income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | ($555.80) | ' | ' |
Guarantee_of_Securities_of_Sub4
Guarantee of Securities of Subsidiaries Statements of Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | $16.70 | $61.70 | $70.40 | $101.40 | $90.10 | $58.20 | $65.10 | $92.60 | $250.20 | $306 | $217 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -7.1 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 2 | 0.2 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | -12.8 | -13.2 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 288.1 | 207.1 |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | 0 | 0 |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 257.2 | 288.1 | 207.1 |
Parent Guarantor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 253.7 | 306 | 217 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -7.1 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 2 | 0.2 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | -12.8 | -13.2 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 257.2 | ' | ' |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 257.2 | 288.1 | 207.1 |
Subsidiary Issuer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 220.3 | 271.2 | 185.5 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -7.1 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 2 | 0.2 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | -12.8 | -13.2 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 223.8 | ' | ' |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 223.8 | 253.3 | 175.6 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 387.2 | 296 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -6.7 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | 0.3 | -1.5 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | -12.8 | -13.2 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | 333.8 | ' | ' |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | ' | ' |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | 337.3 | 368 | 284.4 |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | -555.8 | -658.4 | -481.5 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | -3.2 | 13.8 | -6.2 |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | ' | ' | ' | ' | ' | ' | ' | -0.7 | -2.3 | 1.3 |
Pension and other postretirement benefit costs | ' | ' | ' | ' | ' | ' | ' | ' | -1.4 | 25.6 | 26.4 |
Total Comprehensive Income | ' | ' | ' | ' | ' | ' | ' | ' | -561.1 | ' | ' |
Comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Comprehensive income attributable to controlling interests | ' | ' | ' | ' | ' | ' | ' | ' | ($561.10) | ($621.30) | ($460) |
Guarantee_of_Securities_of_Sub5
Guarantee of Securities of Subsidiaries Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used In) operating activities | $534.30 | $575.50 | $453.90 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | -294.8 | -226.9 | -141.9 |
Proceeds from sale of operating assets | 60.7 | 5.9 | 31.5 |
Proceeds from insurance and other recoveries | 1.4 | 10.4 | 9.6 |
Advances to affiliate | 0 | 0 | 0 |
Investment in consolidated affiliate | 0 | 0 | 0 |
Investment in unconsolidated affiliates | -76.7 | 0 | 0 |
Acquisition of businesses, net of cash acquired | 0 | -620.2 | -545.5 |
Net cash used in investing activities | -309.4 | -830.8 | -646.3 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | 0 | 818 | 636.8 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | 0 | -525 | -250 |
Payments of premiums on extinguishment of long-term debt | 0 | 0 | -21 |
Proceeds from borrowings on revolving credit agreement | 1,128 | 2,135 | 585 |
Repayment of borrowings on revolving credit agreement, including financing costs | -1,255 | -2,295.30 | -830 |
Contribution from parent | 0 | 0 | 0 |
Principal payment of capital lease obligation | -0.2 | 0 | 0 |
Contribution received related to predecessor equity | 0 | 269.2 | 284.8 |
Repayment of contribution received related to predecessor equity | 0 | -554 | 0 |
Advances from affiliate | -2.8 | 2.6 | 0 |
Distributions paid | -533.9 | -478.9 | -419.9 |
Capital contributions from noncontrolling interests | 87.1 | 0 | 0 |
Proceeds from sale of common units | 368.7 | 847.7 | 170 |
Capital contribution from general partner | 7.8 | 18 | 3.6 |
Net cash (used in) provided by financing activities | -200.3 | 237.3 | 159.3 |
(Decrease) increase in cash and cash equivalents | 24.6 | -18 | -33.1 |
Cash and cash equivalents at beginning of period | 3.9 | 21.9 | 55 |
Cash and cash equivalents at end of period | 28.5 | 3.9 | 21.9 |
Parent Guarantor | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used In) operating activities | 33.9 | 31.4 | 31.4 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | 0 | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 | 0 |
Proceeds from insurance and other recoveries | 0 | 0 | 0 |
Advances to affiliate | 126.4 | -404.2 | 227 |
Investment in consolidated affiliate | 0 | -17 | -11.6 |
Investment in unconsolidated affiliates | 0 | ' | ' |
Acquisition of businesses, net of cash acquired | ' | 0 | 0 |
Net cash used in investing activities | 126.4 | -421.2 | 215.4 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | ' | 0 | 0 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | ' | 0 | 0 |
Payments of premiums on extinguishment of long-term debt | ' | ' | 0 |
Proceeds from borrowings on revolving credit agreement | 0 | 0 | 0 |
Repayment of borrowings on revolving credit agreement, including financing costs | 0 | 0 | 0 |
Contribution from parent | 0 | 0 | 0 |
Principal payment of capital lease obligation | 0 | ' | ' |
Contribution received related to predecessor equity | ' | 0 | 0 |
Repayment of contribution received related to predecessor equity | ' | 0 | ' |
Advances from affiliate | -2.8 | 2.6 | 0 |
Distributions paid | -533.9 | -478.9 | -419.9 |
Capital contributions from noncontrolling interests | 0 | ' | ' |
Proceeds from sale of common units | 368.7 | 847.7 | 170 |
Capital contribution from general partner | 7.8 | 18 | 3.6 |
Net cash (used in) provided by financing activities | -160.2 | 389.4 | -246.3 |
(Decrease) increase in cash and cash equivalents | 0.1 | -0.4 | 0.5 |
Cash and cash equivalents at beginning of period | 0.1 | 0.5 | 0 |
Cash and cash equivalents at end of period | 0.2 | 0.1 | 0.5 |
Subsidiary Issuer | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used In) operating activities | -108.8 | 577.9 | 32.2 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | 0 | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 | 0 |
Proceeds from insurance and other recoveries | 0 | 0 | 0 |
Advances to affiliate | -84.3 | -84.4 | 107.8 |
Investment in consolidated affiliate | -15.1 | -398 | -70 |
Investment in unconsolidated affiliates | 0 | ' | ' |
Acquisition of businesses, net of cash acquired | ' | 0 | 0 |
Net cash used in investing activities | -99.4 | -482.4 | 37.8 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | ' | 297.6 | 0 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | ' | -100 | 0 |
Payments of premiums on extinguishment of long-term debt | ' | ' | 0 |
Proceeds from borrowings on revolving credit agreement | 0 | 300 | 305 |
Repayment of borrowings on revolving credit agreement, including financing costs | 0 | -403.8 | -490 |
Contribution from parent | 0 | 17 | 11.6 |
Principal payment of capital lease obligation | 0 | ' | ' |
Contribution received related to predecessor equity | ' | 0 | 0 |
Repayment of contribution received related to predecessor equity | ' | -554 | ' |
Advances from affiliate | 216.4 | 338 | 61.5 |
Distributions paid | 0 | 0 | 0 |
Capital contributions from noncontrolling interests | 0 | ' | ' |
Proceeds from sale of common units | 0 | 0 | 0 |
Capital contribution from general partner | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | 216.4 | -105.2 | -111.9 |
(Decrease) increase in cash and cash equivalents | 8.2 | -9.7 | -41.9 |
Cash and cash equivalents at beginning of period | 1 | 10.7 | 52.6 |
Cash and cash equivalents at end of period | 9.2 | 1 | 10.7 |
Non-Guarantor Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used In) operating activities | 609.2 | 655.7 | 543.1 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | -294.8 | -226.9 | -141.9 |
Proceeds from sale of operating assets | 60.7 | 5.9 | 31.5 |
Proceeds from insurance and other recoveries | 1.4 | 10.4 | 9.6 |
Advances to affiliate | -342.8 | 66.2 | -288.5 |
Investment in consolidated affiliate | 0 | 0 | 0 |
Investment in unconsolidated affiliates | -76.7 | ' | ' |
Acquisition of businesses, net of cash acquired | ' | -620.2 | -545.5 |
Net cash used in investing activities | -652.2 | -764.6 | -934.8 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | ' | 520.4 | 636.8 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | ' | -425 | -250 |
Payments of premiums on extinguishment of long-term debt | ' | ' | -21 |
Proceeds from borrowings on revolving credit agreement | 1,128 | 1,835 | 280 |
Repayment of borrowings on revolving credit agreement, including financing costs | -1,255 | -1,891.50 | -340 |
Contribution from parent | 15.1 | 398 | 70 |
Principal payment of capital lease obligation | -0.2 | ' | ' |
Contribution received related to predecessor equity | ' | 269.2 | 284.8 |
Repayment of contribution received related to predecessor equity | ' | 0 | ' |
Advances from affiliate | 84.3 | 84.4 | -107.8 |
Distributions paid | 0 | -689.5 | -152.8 |
Capital contributions from noncontrolling interests | 87.1 | ' | ' |
Proceeds from sale of common units | 0 | 0 | 0 |
Capital contribution from general partner | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | 59.3 | 101 | 400 |
(Decrease) increase in cash and cash equivalents | 16.3 | -7.9 | 8.3 |
Cash and cash equivalents at beginning of period | 2.8 | 10.7 | 2.4 |
Cash and cash equivalents at end of period | 19.1 | 2.8 | 10.7 |
Eliminations | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by (used In) operating activities | 0 | -689.5 | -152.8 |
INVESTING ACTIVITIES: | ' | ' | ' |
Capital expenditures | 0 | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 | 0 |
Proceeds from insurance and other recoveries | 0 | 0 | 0 |
Advances to affiliate | 300.7 | 422.4 | -46.3 |
Investment in consolidated affiliate | 15.1 | 415 | 81.6 |
Investment in unconsolidated affiliates | 0 | ' | ' |
Acquisition of businesses, net of cash acquired | ' | 0 | 0 |
Net cash used in investing activities | 315.8 | 837.4 | 35.3 |
FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from long-term debt and term loans | ' | 0 | 0 |
Repayment of borrowings from long-term debt, term loans and subordinated debt | ' | 0 | 0 |
Payments of premiums on extinguishment of long-term debt | ' | ' | 0 |
Proceeds from borrowings on revolving credit agreement | 0 | 0 | 0 |
Repayment of borrowings on revolving credit agreement, including financing costs | 0 | 0 | 0 |
Contribution from parent | -15.1 | -415 | -81.6 |
Principal payment of capital lease obligation | 0 | ' | ' |
Contribution received related to predecessor equity | ' | 0 | 0 |
Repayment of contribution received related to predecessor equity | ' | 0 | ' |
Advances from affiliate | -300.7 | -422.4 | 46.3 |
Distributions paid | 0 | 689.5 | 152.8 |
Capital contributions from noncontrolling interests | 0 | ' | ' |
Proceeds from sale of common units | 0 | 0 | 0 |
Capital contribution from general partner | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | -315.8 | -147.9 | 117.5 |
(Decrease) increase in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 | 0 |
Cash and cash equivalents at end of period | $0 | $0 | $0 |
Guarantee_of_Securities_of_Sub6
Guarantee of Securities of Subsidiaries Prior Period Adjustment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gain (loss) on cash flow hedges | $1.60 | ($7.10) | $3.10 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 1.2 | 2 | 0.2 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 257.2 | 288.1 | 207.1 |
Consolidation, Eliminations [Member] | ' | ' | ' |
Gain (loss) on cash flow hedges | -3.2 | 13.8 | -6.2 |
Reclassification adjustment transferred to Net Income from cash flow hedges | -0.7 | -2.3 | 1.3 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -561.1 | -621.3 | -460 |
Consolidation, Eliminations [Member] | Restatement Adjustment [Member] | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | 6.7 | ' |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | -0.3 | 1.5 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | 6.4 | 1.5 |
Subsidiary Issuer | ' | ' | ' |
Gain (loss) on cash flow hedges | 1.6 | -7.1 | 3.1 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 1.2 | 2 | 0.2 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | 223.8 | 253.3 | 175.6 |
Subsidiary Issuer | Restatement Adjustment [Member] | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | -6.7 | ' |
Reclassification adjustment transferred to Net Income from cash flow hedges | ' | 0.3 | -1.5 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | ' | ($6.40) | ($1.50) |
Schedule_II_Valuation_and_Qual
Schedule II Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $0.20 | $0.20 | $0.60 |
Additions: | ' | ' | ' |
Charged to Costs and Expenses | -0.2 | 0 | 0.3 |
Other Additions | 0 | 0 | 0 |
Deductions | 0 | 0 | -0.7 |
Balance at End of Period | $0 | $0.20 | $0.20 |