Document_and_Entity_Informatio
Document and Entity Information (USD $) | 6 Months Ended | ||
Jun. 30, 2014 | Aug. 04, 2014 | Aug. 04, 2014 | |
Common Stock [Member] | Common Class B [Member] | ||
Subsequent Event | Subsequent Event | ||
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'Boardwalk Pipeline Partners, LP | ' | ' |
Entity Central Index Key | '0001336047 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | $2,176,296,858 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 243,223,801 | 0 |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q2 | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Jun-14 | ' | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $43.30 | $28.50 |
Receivables: | ' | ' |
Trade, net | 88.3 | 103.5 |
Affiliates | 0 | 1.1 |
Other | 11.6 | 15.7 |
Gas transportation receivables | 7.1 | 7.8 |
Costs recoverable from customers | 0.6 | 0.8 |
Gas and liquids stored underground | 3.5 | 0.7 |
Prepayments | 18.3 | 12.9 |
Other current assets | 2.9 | 6.1 |
Total current assets | 175.6 | 177.1 |
Property, Plant and Equipment: | ' | ' |
Natural gas transmission and other plant | 8,645.50 | 8,548.80 |
Construction work in progress | 235.5 | 174.5 |
Property, plant and equipment, gross | 8,881 | 8,723.30 |
Lessbaccumulated depreciation and amortization | 1,622.30 | 1,489.20 |
Property, plant and equipment, net | 7,258.70 | 7,234.10 |
Other Assets: | ' | ' |
Goodwill | 215.5 | 215.5 |
Gas stored underground | 86.2 | 79.7 |
Investment in unconsolidated affiliates | 0 | 78.6 |
Other | 124.9 | 129.5 |
Total other assets | 426.6 | 503.3 |
Total Assets | 7,860.90 | 7,914.50 |
Payables: | ' | ' |
Trade | 49.9 | 65.1 |
Affiliates | 2.4 | 1.2 |
Other | 13.3 | 5.7 |
Gas Payables: | ' | ' |
Transportation | 9.1 | 8.8 |
Storage | 0 | 0.2 |
Accrued taxes, other | 48.8 | 46.1 |
Accrued interest | 45.2 | 45.4 |
Accrued payroll and employee benefits | 16.1 | 26.4 |
Deferred income | 4.6 | 9.3 |
Other current liabilities | 31.8 | 27.8 |
Total current liabilities | 221.2 | 236 |
Long-term debt and capital lease obligations | 3,350.20 | 3,424.40 |
Other Liabilities and Deferred Credits: | ' | ' |
Pension liability | 17.1 | 17.1 |
Asset retirement obligation | 34.6 | 39.3 |
Provision for other asset retirement | 59.1 | 57.6 |
Payable to affiliate | 16 | 16 |
Other | 69.9 | 60.7 |
Total other liabilities and deferred credits | 196.7 | 190.7 |
Commitments and Contingencies | ' | ' |
Partnersb Capital: | ' | ' |
Common units b 243.3 million units issued and outstanding as of June 30, 2014, and December 31, 2013 | 4,079 | 3,963.40 |
General partner | 79.7 | 77.3 |
Accumulated other comprehensive loss | -67 | -63.8 |
Total partnersb capital | 4,091.70 | 3,976.90 |
Noncontrolling interest | 1.1 | 86.5 |
Total Equity | 4,092.80 | 4,063.40 |
Total Liabilities and Equity | $7,860.90 | $7,914.50 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Common units issued | 243.3 | 243.3 |
Common units outstanding | 243.3 | 243.3 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Revenues: | ' | ' | ' | ' |
Transportation | $245.70 | $242.30 | $550 | $526.40 |
Parking and lending | 9.2 | 7.1 | 18.4 | 15 |
Storage | 22.1 | 27.4 | 50.9 | 55.5 |
Other | 16.4 | 11.9 | 31 | 20.3 |
Total operating revenues | 293.4 | 288.7 | 650.3 | 617.2 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | 29.9 | 27.4 | 62.9 | 50.1 |
Operation and maintenance | 43.9 | 43.8 | 86.6 | 84 |
Administrative and general | 30.5 | 28.9 | 57.3 | 60.3 |
Depreciation and amortization | 69.6 | 67.3 | 138.8 | 134.1 |
Asset impairment | 1.4 | 1.1 | 8.6 | 1.2 |
Net gain on sale of operating assets | -0.8 | -16.2 | -1.2 | -16.2 |
Taxes other than income taxes | 22.4 | 25.3 | 48.2 | 50.9 |
Total operating costs and expenses | 196.9 | 177.6 | 401.2 | 364.4 |
Operating income | 96.5 | 111.1 | 249.1 | 252.8 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 40.2 | 40.7 | 81.1 | 81.2 |
Interest income | -0.2 | -0.1 | -0.3 | -0.3 |
Equity losses in unconsolidated affiliates | 0.5 | 0 | 86.6 | 0 |
Miscellaneous other income, net | 0 | 0 | -0.1 | -0.2 |
Total other deductions | 40.5 | 40.6 | 167.3 | 80.7 |
Income before income taxes | 56 | 70.5 | 81.8 | 172.1 |
Income taxes | 0.1 | 0.1 | 0.3 | 0.3 |
Net Income | 55.9 | 70.4 | 81.5 | 171.8 |
Net loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Net income attributable to controlling interests | $57.40 | $70.50 | $167.60 | $171.90 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME Net Income Per Unit: (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net Income per Unit: | ' | ' | ' | ' |
Cash distribution declared and paid to common units | $0.10 | $0.53 | $0.20 | $1.06 |
Cash distribution declared and paid to class B units | $0 | $0.30 | $0 | $0.60 |
Common Units | ' | ' | ' | ' |
Net income per unit: | ' | ' | ' | ' |
Net income per unit | $0.23 | $0.28 | $0.68 | $0.70 |
Weighted-average number of units outstanding: | ' | ' | ' | ' |
Weighted-average units outstanding (in units) | 243.3 | 212.3 | 243.3 | 210 |
Class B Units | ' | ' | ' | ' |
Net income per unit: | ' | ' | ' | ' |
Net income per unit | $0 | $0.03 | $0 | $0.21 |
Weighted-average number of units outstanding: | ' | ' | ' | ' |
Weighted-average units outstanding (in units) | 0 | 22.9 | 0 | 22.9 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income | $55.90 | $70.40 | $81.50 | $171.80 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | 0 | 7 | -0.9 | 2.5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 0.7 | 1 | 1.6 | 1.1 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Total Comprehensive Income | 54.6 | 76.5 | 78.3 | 171.8 |
Comprehensive loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Comprehensive income attributable to controlling interests | $56.10 | $76.60 | $164.40 | $171.90 |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Activities: | ' | ' |
Net Income | $81.50 | $171.80 |
Adjustments to reconcile net income to cash provided by operations: | ' | ' |
Depreciation and amortization | 138.8 | 134.1 |
Amortization of deferred costs | 2.9 | 2.7 |
Asset impairment | 8.6 | 1.2 |
Net gain on sale of operating assets | -1.2 | -16.2 |
Equity losses in unconsolidated affiliates | 86.6 | 0 |
Changes in operating assets and liabilities: | ' | ' |
Trade and other receivables | 19.2 | -0.5 |
Other receivables, affiliates | 0.9 | -0.1 |
Gas receivables and storage assets | -8.5 | 18.2 |
Costs recoverable from customers | 1 | 0.6 |
Other assets | -3.8 | 11.8 |
Trade and other payables | -11.6 | -27.9 |
Other payables, affiliates | -0.5 | 0.7 |
Gas payables | 7.4 | 0.1 |
Accrued liabilities | -6.9 | 1.5 |
Other liabilities | -6.3 | -12.8 |
Net cash provided by operating activities | 308.1 | 285.2 |
Investing Activities: | ' | ' |
Capital expenditures | -162.7 | -132.2 |
Proceeds from sale of operating assets | 2.9 | 21.2 |
Proceeds from insurance and other recoveries | 0 | 1.4 |
Advances to affiliates | 0.1 | 0 |
Investment in unconsolidated affiliates | -20.3 | -21.4 |
Distribution from unconsolidated affiliates | 10.7 | 0 |
Net cash used in investing activities | -169.3 | -131 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 220 | 458 |
Repayment of borrowings on revolving credit agreement | -295 | -740 |
Principal payment of capital lease obligation | -0.2 | 0 |
Advances from affiliate | 0.1 | -2.4 |
Distributions paid | -49.6 | -256.4 |
Capital contributions from noncontrolling interests | 7.8 | 16.1 |
Distributions paid to noncontrolling interests | -7.1 | 0 |
Proceeds from sale of common units | 0 | 368.7 |
Capital contributions from general partner | 0 | 7.8 |
Net cash used in financing activities | -124 | -148.2 |
Increase in cash and cash equivalents | 14.8 | 6 |
Cash and cash equivalents at beginning of period | 28.5 | 3.9 |
Cash and cash equivalents at end of period | $43.30 | $9.90 |
CONDENSED_CONSOLIDATED_STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (USD $) | Total | Limited Partner | Limited Partner | General Partner | Accumulated Other Comprehensive Loss | Noncontrolling Interest |
In Millions, unless otherwise specified | Common Units | Class B Units | ||||
Beg Partners' Capital at Dec. 31, 2012 | $3,877.10 | $3,190.30 | $678.30 | $75.80 | ($67.30) | $0 |
Add (deduct): | ' | ' | ' | ' | ' | ' |
Net income (loss) | 171.8 | 138.7 | 13.7 | 19.5 | 0 | -0.1 |
Distributions paid | -256.4 | -221.2 | -13.7 | -21.5 | 0 | 0 |
Sale of common units, net of related transactions costs | 368.7 | 368.7 | 0 | 0 | 0 | 0 |
Capital contributions from general partner | 7.8 | 0 | 0 | 7.8 | 0 | 0 |
Capital contributions from noncontrolling interests | 20.4 | 0 | 0 | 0 | 0 | 20.4 |
End Partners' Capital at Jun. 30, 2013 | 4,189.40 | 3,476.50 | 678.3 | 81.6 | -67.3 | 20.3 |
Beg Partners' Capital at Dec. 31, 2013 | 4,063.40 | 3,963.40 | 0 | 77.3 | -63.8 | 86.5 |
Add (deduct): | ' | ' | ' | ' | ' | ' |
Net income (loss) | 81.5 | 164.2 | 0 | 3.4 | 0 | -86.1 |
Distributions paid | -49.6 | -48.6 | 0 | -1 | 0 | 0 |
Capital contributions from noncontrolling interests | 7.8 | 0 | 0 | 0 | 0 | 7.8 |
Distributions paid to noncontrolling interests | -7.1 | 0 | 0 | 0 | 0 | -7.1 |
Other comprehensive loss | -3.2 | 0 | 0 | 0 | -3.2 | 0 |
End Partners' Capital at Jun. 30, 2014 | $4,092.80 | $4,079 | $0 | $79.70 | ($67) | $1.10 |
Basis_of_Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Note 1: Basis of Presentation | |
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 and consists of integrated natural gas and natural gas liquids (NGLs) pipeline and storage systems and natural gas gathering and processing. | |
As of August 4, 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 August 4, 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 common units are traded under the symbol “BWP” on the New York Stock Exchange. | |
The accompanying unaudited condensed consolidated financial statements of the Partnership were prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of June 30, 2014, and December 31, 2013, and the results of operations and comprehensive income for the three and six months ended June 30, 2014 and 2013, and changes in cash flows and changes in equity for the six months ended June 30, 2014 and 2013. Reference is made to the Notes to Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2013 (2013 Annual Report on Form 10-K), which should be read in conjunction with these unaudited condensed consolidated financial statements. The accounting policies described in Note 2 to the Consolidated Financial Statements included in such 2013 Annual Report on Form 10-K are the same used in preparing the accompanying unaudited condensed consolidated financial statements. Net income for interim periods may not necessarily be indicative of results for the full year. |
Investments
Investments | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Investments [Abstract] | ' | |||||||
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' | |||||||
Note 2: 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 continue the development process for the Bluegrass Project - a project that would transport NGLs from the Marcellus and Utica shale plays to the petrochemical and export complex in the U.S. Gulf Coast region, and related fractionation, storage and export facilities. 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. | ||||||||
The open season for capacity on the pipeline ended in the first quarter 2014, and although discussions with potential customers continued throughout the first quarter, the Partnership was unable to obtain sufficient firm customer commitments to support the project. Further, delays in the development of the project and other factors have resulted in escalations in the estimated costs to complete the project. Considering these factors, the Partnership determined that it would no longer make capital investments in the Bluegrass Project. In the first quarter 2014, the Bluegrass Project entities expensed the previously capitalized project costs, resulting in a $92.9 million charge, which was reflected in Equity losses in unconsolidated affiliates and Asset impairment on the income statement. Net of noncontrolling interests of $82.9 million associated with the Bluegrass investment, these expenses reduced the Partnership’s Net income attributable to controlling interests by $10.0 million. | ||||||||
Boardwalk Bluegrass and Boardwalk Moss Lake | ||||||||
Through June 30, 2014, the Partnership has contributed a total of $12.7 million to Boardwalk Bluegrass and Boardwalk Moss Lake, and as of June 30, 2014, and December 31, 2013, held equity ownership interests in those entities of 10% and 23%. 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 June 30, 2014, and December 31, 2013, the Partnership included in its Condensed Consolidated Balance Sheet the following balances that represent amounts recorded by Boardwalk Bluegrass and Boardwalk Moss Lake (in millions): | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Cash | $ | 1.5 | $ | 15 | ||||
Investment in unconsolidated affiliates | — | 78.6 | ||||||
Construction work in progress | — | 6.8 | ||||||
Trade payables | — | 0.2 | ||||||
Other payables | 0.3 | 4.7 | ||||||
At June 30, 2014, Boardwalk Bluegrass and Boardwalk Moss Lake had no remaining investment in Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG. At December 31, 2013, Boardwalk Bluegrass' and Boardwalk Moss Lake's maximum exposure to loss was limited to the carrying amount of their investment in Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG, which was $78.6 million and the Partnership's maximum exposure to loss was $11.9 million. |
Gas_and_Liquids_Stored_Undergr
Gas and Liquids Stored Underground And Gas and NGLs Receivables And Payables | 6 Months Ended |
Jun. 30, 2014 | |
Gas and Liquids Stored Underground and Gas and NGLs Receivables and Payables [Abstract] | ' |
Gas Stored Underground and Gas Receivables and Payable [Text Block] | ' |
Note 3: Gas and Liquids Stored Underground and Gas and NGLs Receivables and Payables | |
Subsidiaries of the Partnership provide storage services whereby they store gas or NGLs on behalf of customers and also periodically hold customer gas under parking and lending (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. | |
Subsidiaries of the Partnership also periodically lend gas to customers under PAL and no-notice services. As of June 30, 2014, the amount of gas owed to the subsidiaries of the Partnership due to gas imbalances and gas loaned under PAL and no-notice services was approximately 20.2 trillion British thermal units (TBtu). Assuming an average market price during June 2014 of $4.46 per million British thermal unit, the market value of that gas was approximately $90.1 million. As of December 31, 2013, the amount of gas owed to the subsidiaries of the Partnership due to gas imbalances and gas loaned under PAL and no-notice services was approximately 19.6 TBtu. As of June 30, 2014, the amount of NGLs owed to the operating subsidiaries due to imbalances was less than 0.1 MMbbls. As of December 31, 2013, there were no outstanding NGLs imbalances owed to the operating subsidiaries. If any significant customer should have credit or financial problems resulting in a delay or failure to repay the gas or NGLs owed to the operating subsidiaries, it could have a material adverse effect on the Partnership’s financial condition, results of operations or cash flows. |
Fair_Values_Measurements_Deriv
Fair Values Measurements, Derivatives and Other Comprehensive Income (OCI) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | |||||||||||||||||||||||
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) [Text Block] | ' | |||||||||||||||||||||||
Note 4: Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) | ||||||||||||||||||||||||
The Partnership’s assets that were recorded at fair value on a non-recurring basis as of June 30, 2014 were as follows (in millions): | ||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
30-Jun-14 | Quoted prices in active markets for identical assets | Significant other observable inputs | Significant unobservable inputs | Total Gains (losses) for the three months ended June 30, 2014 | Total | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Gains | |||||||||||||||||||||
(losses) for the six months ended | ||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Non-recurring fair value measurements - Assets | ||||||||||||||||||||||||
Assets held and used | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (7.1 | ) | (1) | ||||||||||
Investment in unconsolidated affiliates | — | — | — | — | — | (85.8 | ) | (1) | ||||||||||||||||
-1 | Net of noncontrolling interests of $82.9 million, the amount of the loss to the Partnership was $10.0 million. The impairment charge related to the assets held and used represents the carrying amount of the assets. The fair value of the investment in unconsolidated affiliates was determined to be available cash, after consideration for the settlement of certain working capital items. Note 2 contains more information regarding these measurements. Note 5 contains additional information related to asset impairment charges not included in the above table. | |||||||||||||||||||||||
There were no liabilities recorded at fair value on a non-recurring basis at June 30, 2014. The Partnership’s assets and liabilities recorded at fair value on a recurring basis as of June 30, 2014, and December 31, 2013 were related to its derivatives. | ||||||||||||||||||||||||
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 $3.2 million and $0.3 million of gas stored underground at June 30, 2014, and December 31, 2013, which the Partnership owns and carries on its balance sheet as current Gas and liquids stored underground. The derivatives qualify for cash flow hedge accounting and are generally 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. The fair values of derivatives designated as cash flow hedges existing as of June 30, 2014, included in Other current liabilities in the Condensed Consolidated Balance Sheets was less than $0.1 million. The fair value of derivatives designated as cash flow hedges existing as of December 31, 2013, included in Other current assets in the Condensed Consolidated Balance Sheets was $0.5 million. | ||||||||||||||||||||||||
The Partnership had $12.0 million and $12.7 million of Accumulated other comprehensive loss (AOCI) related to cash flow hedges as of June 30, 2014, and December 31, 2013. The Partnership estimates that approximately $2.4 million of net losses from cash flow hedges reported in AOCI as of June 30, 2014, are expected to be reclassified into earnings within the next twelve months and primarily relates to previously settled Treasury rate locks that are being amortized to earnings over the terms of the related interest payments, generally the terms of the related debt. | ||||||||||||||||||||||||
Other Comprehensive Income (OCI) | ||||||||||||||||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the three months ended June 30, 2014 (in millions): | ||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||
Beginning balance, April 1, 2014 | $ | (12.7 | ) | $ | (53.0 | ) | $ | (65.7 | ) | |||||||||||||||
Loss recorded in accumulated other comprehensive loss | — | — | — | |||||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||||||||||||||
Interest expense | 0.6 | — | 0.6 | |||||||||||||||||||||
Pension and other postretirement benefit costs | — | (2.0 | ) | (2.0 | ) | |||||||||||||||||||
Ending balance, June 30, 2014 | $ | (12.0 | ) | $ | (55.0 | ) | $ | (67.0 | ) | |||||||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the three months ended June 30, 2013 (in millions): | ||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||
Beginning balance, April 1, 2013 | $ | (19.9 | ) | $ | (53.5 | ) | $ | (73.4 | ) | |||||||||||||||
Loss recorded in accumulated other comprehensive loss | 7 | — | 7 | |||||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||||||||||||||
Other operating revenues | 0.3 | — | 0.3 | |||||||||||||||||||||
Interest expense | 0.6 | — | 0.6 | |||||||||||||||||||||
Pension and other postretirement benefit costs | — | (1.9 | ) | (1.9 | ) | |||||||||||||||||||
Ending balance, June 30, 2013 | $ | (11.9 | ) | $ | (55.4 | ) | $ | (67.3 | ) | |||||||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the six months ended June 30, 2014 (in millions): | ||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||
Beginning balance, January 1, 2014 | $ | (12.7 | ) | $ | (51.1 | ) | $ | (63.8 | ) | |||||||||||||||
Loss recorded in accumulated other comprehensive loss | (0.9 | ) | — | (0.9 | ) | |||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||
Transportation operating revenues | 0.2 | — | 0.2 | |||||||||||||||||||||
Other operating revenues | 0.2 | — | 0.2 | |||||||||||||||||||||
Interest expense | 1.2 | — | 1.2 | |||||||||||||||||||||
Pension and other postretirement benefit costs | — | (3.9 | ) | (3.9 | ) | |||||||||||||||||||
Ending balance, June 30, 2014 | $ | (12.0 | ) | $ | (55.0 | ) | $ | (67.0 | ) | |||||||||||||||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the six months ended June 30, 2013 (in millions): | ||||||||||||||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||||||||||||||
Beginning balance, January 1, 2013 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) | |||||||||||||||
Loss recorded in accumulated other comprehensive loss | 2.5 | — | 2.5 | |||||||||||||||||||||
Reclassifications: | ||||||||||||||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||||||||||||||
Other operating revenues | (0.2 | ) | — | (0.2 | ) | |||||||||||||||||||
Interest expense | 1.2 | — | 1.2 | |||||||||||||||||||||
Pension and other postretirement benefit costs | — | (3.6 | ) | (3.6 | ) | |||||||||||||||||||
Ending balance, June 30, 2013 | $ | (11.9 | ) | $ | (55.4 | ) | $ | (67.3 | ) | |||||||||||||||
Financial Assets and Liabilities | ||||||||||||||||||||||||
The following methods and assumptions were used in estimating the fair value amounts included in the disclosures for financial assets and liabilities, which are consistent with those disclosed in the 2013 Annual Report on Form 10-K: | ||||||||||||||||||||||||
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 June 30, 2014, and December 31, 2013. The fair market value of the debt that is not publicly traded is based on market prices of similar debt at June 30, 2014, and December 31, 2013. 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 Condensed Consolidated Balance Sheets as of June 30, 2014, and December 31, 2013, were as follows (in millions): | ||||||||||||||||||||||||
As of June 30, 2014 | Estimated Fair Value | |||||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
Cash and cash equivalents | $ | 43.3 | $ | 43.3 | $ | — | $ | — | $ | 43.3 | ||||||||||||||
Financial Liabilities | ||||||||||||||||||||||||
Long-term debt | $ | 3,340.40 | (1) | $ | — | $ | 3,503.20 | $ | — | $ | 3,503.20 | |||||||||||||
(1) The carrying amount of long-term debt excludes a $9.8 million capital lease obligation. | ||||||||||||||||||||||||
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. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2014 | |
Property, Plant and Equipment (PPE) [Abstract] | ' |
Property, Plant and Equipment Disclosure [Text Block] | ' |
Note 5: Property, Plant and Equipment | |
Gas Sales | |
In the second quarter 2013, the Partnership recognized a gain of $17.0 million from the sale of approximately 5.0 Bcf of natural gas stored underground that was sold as a result of a strategy to provide capacity for additional storage and parks of customer gas under PAL services. | |
Asset Impairments and Dispositions | |
The Partnership recognized asset impairment charges of $1.4 million and $8.6 million for the three and six months ended June 30, 2014, and $1.1 million and $1.2 million for the three and six months ended June 30, 2013. Asset impairment charges of $1.3 million recorded in 2014 and the charges recorded in 2013 resulted from an increase in the estimate of existing asset retirement obligations related to retired assets. The remaining 2014 asset impairment charges related to the Bluegrass Project. Refer to Note 2 for further information. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Note 6: Commitments and Contingencies | |
Legal Proceedings and Settlements | |
The Partnership and its 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. | |
In May 2014, Gulf South and MGSC reached an agreement whereby MGSC fully indemnified Gulf South against all liability related to this matter and the cross-claims between Gulf South and MGSC were settled. | |
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. The plaintiff has moved for remand back to state court, which motion is being briefed, and thus pending. 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 the Southeast Louisiana Flood Protection Litigation case cannot be predicted at this time; however, based on the facts and circumstances presently known, in the opinion of management, this case will not be material to the Partnership'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 June 30, 2014, and December 31, 2013, the Partnership had an accrued liability of approximately $6.2 million and $6.5 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 June 30, 2014, and December 31, 2013, approximately $1.5 million was recorded in Other current liabilities and approximately $4.7 million and $5.0 million were recorded in Other Liabilities and Deferred Credits. | |
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 June 30, 2014, were approximately $173.4 million, all of which are expected to be settled within the next twelve months. | |
There were no substantial changes to the Partnership’s operating lease commitments, pipeline capacity agreements or capital lease obligation disclosed in Note 5 to the Partnership’s 2013 Annual Report on Form 10-K. |
Cash_Distributions_and_Net_Inc
Cash Distributions and Net Income per Unit | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Partners' Capital Notes [Abstract] | ' | |||||||||||||||
Cash Distributions and Net Income per Unit | ' | |||||||||||||||
Note 7: Cash Distributions and Net Income per Unit | ||||||||||||||||
Cash Distributions | ||||||||||||||||
In the second quarter 2014, the Partnership declared and paid quarterly distributions to its common unitholders of record of $0.10 per common unit and an amount to the general partner on behalf of its 2% general partner interest. In the second quarter 2013, the Partnership declared and paid a quarterly distribution to its common unitholders of record of $0.5325 per common unit, $0.30 per class B unit to the holder of the class B units (which converted to common units in October 2013 on a one-for-one basis pursuant to the terms of the partnership agreement) and amounts to the general partner on behalf of its 2% general partner interest and as holder of the IDRs. In July 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 is 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. Unless noted otherwise, basic and diluted net income per unit are the same. | ||||||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common units for purposes of computing net income per unit for the three months ended June 30, 2014, (in millions, except per unit data): | ||||||||||||||||
Total | Common | General Partner and IDRs | ||||||||||||||
Units | ||||||||||||||||
Net income | $ | 55.9 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (1.5 | ) | ||||||||||||||
Net income attributable to controlling interests | 57.4 | |||||||||||||||
Declared distribution | 24.8 | $ | 24.3 | $ | 0.5 | |||||||||||
Assumed allocation of undistributed net income | 32.6 | 32 | 0.6 | |||||||||||||
Assumed allocation of net income attributable to limited | $ | 57.4 | $ | 56.3 | $ | 1.1 | ||||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 243.3 | |||||||||||||||
Net income per unit | $ | 0.23 | ||||||||||||||
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 three months ended June 30, 2013, (in millions, except per unit data): | ||||||||||||||||
Total | Common | Class B | General Partner and IDRs | |||||||||||||
Units | Units | |||||||||||||||
Net income | $ | 70.4 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (0.1 | ) | ||||||||||||||
Net income attributable to controlling interests | 70.5 | |||||||||||||||
Declared distribution | 135.6 | $ | 117.3 | $ | 6.9 | $ | 11.4 | |||||||||
Assumed allocation of undistributed net loss | (65.1 | ) | (57.6 | ) | (6.2 | ) | (1.3 | ) | ||||||||
Assumed allocation of net income attributable to limited | $ | 70.5 | $ | 59.7 | $ | 0.7 | $ | 10.1 | ||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 212.3 | 22.9 | ||||||||||||||
Net income per unit | $ | 0.28 | $ | 0.03 | ||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common units for purposes of computing net income per unit for the six months ended June 30, 2014, (in millions, except per unit data): | ||||||||||||||||
Total | Common | General Partner and IDRs | ||||||||||||||
Units | ||||||||||||||||
Net income | $ | 81.5 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (86.1 | ) | ||||||||||||||
Net income attributable to controlling interests | 167.6 | |||||||||||||||
Declared distribution | 49.6 | $ | 48.7 | $ | 0.9 | |||||||||||
Assumed allocation of undistributed net income | 118 | 115.6 | 2.4 | |||||||||||||
Assumed allocation of net income attributable to limited | $ | 167.6 | $ | 164.3 | $ | 3.3 | ||||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 243.3 | |||||||||||||||
Net income per unit | $ | 0.68 | ||||||||||||||
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 six months ended June 30, 2013, (in millions, except per unit data): | ||||||||||||||||
Total | Common | Class B | General Partner and IDRs | |||||||||||||
Units | Units | |||||||||||||||
Net income | $ | 171.8 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (0.1 | ) | ||||||||||||||
Net income attributable to controlling interests | $ | 171.9 | ||||||||||||||
Declared distribution | 263.8 | $ | 227.9 | $ | 13.7 | $ | 22.2 | |||||||||
Assumed allocation of undistributed net loss | (91.9 | ) | (81.2 | ) | (8.9 | ) | (1.8 | ) | ||||||||
Assumed allocation of net income attributable to limited | $ | 171.9 | $ | 146.7 | $ | 4.8 | $ | 20.4 | ||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 210 | 22.9 | ||||||||||||||
Net income per unit | $ | 0.7 | $ | 0.21 | ||||||||||||
Financing
Financing | 6 Months Ended |
Jun. 30, 2014 | |
Debt Disclosure [Abstract] | ' |
Financing | ' |
Note 8: Financing | |
Notes and Debentures | |
As of June 30, 2014, and December 31, 2013, the Partnership had notes and debentures outstanding of $3.0 billion with a weighted-average interest rate of 5.32%, including $275.0 million of notes which mature in February 2015 and $250.0 million of notes which mature in June 2015. The notes which mature in 2015 were included with the other notes and debentures in long-term debt on the Condensed Consolidated Balance Sheets since the Partnership expects to refinance these notes on a long-term basis and there is adequate available capacity under the revolving credit facility to extend the amount that would otherwise come due in less than one year. | |
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 debt obligations are unsecured. At June 30, 2014, the Partnership and its subsidiaries were in compliance with their debt covenants. | |
Revolving Credit Facility | |
Outstanding borrowings under the Partnership’s revolving credit facility as of June 30, 2014, and December 31, 2013, were $100.0 million and $175.0 million, with a weighted-average borrowing rate of 1.53% and 1.29%. | |
The credit facility contains various restrictive covenants and other usual and customary terms and conditions, including 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 Amended 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 June 30, 2014. | |
Term Loan | |
The Partnership has a $225.0 million variable-rate term loan due October 1, 2017 (2017 Term Loan), which bears interest at a rate that is based on the one-month London Interbank Offered Rate (LIBOR) plus an applicable margin. Outstanding borrowings as of June 30, 2014, and December 31, 2013, were $225.0 million, with a weighted-average interest rate of 1.90% and 1.92%. | |
Long-Term Debt Affiliate | |
In July 2014, the Partnership entered into a Subordinated Loan Agreement with BPHC under which the Partnership can borrow up to $300.0 million (Subordinated Loan) through December 31, 2015. The Subordinated Loan bears interest at increasing rates, ranging 5.75% to 9.75%, payable semi-annually in June and December, commencing December 2014, and maturing in July 2024. The Subordinated Loan must be prepaid with the net cash proceeds from the issuance of additional equity securities by the Partnership or the incurrence of certain indebtedness by the Partnership or its subsidiaries, although BPHC may waive such prepayment. The Subordinated Loan is subordinated in right of payment to the Partnership’s obligations under its revolving credit facility pursuant to the terms of a Subordination Agreement between BPHC and Wells Fargo, N.A., as representative of the lenders under the revolving credit facility. Through the filing date of this Quarterly Report on Form 10-Q, the Partnership has not borrowed any amounts under the Subordinated Loan. |
Employee_Benefits
Employee Benefits | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Employee Benefits | ' | |||||||||||||||
Note 9: Employee Benefits | ||||||||||||||||
Defined Benefit Retirement Plans and Postretirement Benefits Other Than Pension (PBOP) | ||||||||||||||||
Texas Gas Transmission, LLC (Texas Gas) employees hired prior to November 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. Texas Gas provides postretirement medical benefits and life insurance to retired employees who were employed full time, hired prior to 1996, and have met certain other requirements. | ||||||||||||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the three months ended June 30, 2014 and 2013 were as follows (in millions): | ||||||||||||||||
Retirement Plans | PBOP | |||||||||||||||
For the | For the | |||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | $ | 1 | $ | 1.1 | $ | 0.1 | $ | 0.1 | ||||||||
Interest cost | 1.4 | 1.2 | 0.6 | 0.4 | ||||||||||||
Expected return on plan assets | (2.4 | ) | (2.3 | ) | (1.0 | ) | (1.1 | ) | ||||||||
Amortization of prior service credit | — | — | (2.0 | ) | (1.9 | ) | ||||||||||
Amortization of unrecognized net loss | 0.3 | 0.6 | — | (0.1 | ) | |||||||||||
Regulatory asset decrease | 0.5 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 0.8 | $ | 0.6 | $ | (2.3 | ) | $ | (2.6 | ) | ||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the six months ended June 30, 2014 and 2013 were as follows (in millions): | ||||||||||||||||
Retirement Plans | PBOP | |||||||||||||||
For the | For the | |||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | $ | 2 | $ | 2.2 | $ | 0.2 | $ | 0.2 | ||||||||
Interest cost | 2.8 | 2.4 | 1.1 | 0.9 | ||||||||||||
Expected return on plan assets | (4.7 | ) | (4.5 | ) | (2.1 | ) | (2.2 | ) | ||||||||
Amortization of prior service credit | — | — | (3.9 | ) | (3.8 | ) | ||||||||||
Amortization of unrecognized net loss | 0.6 | 1.2 | 0.1 | — | ||||||||||||
Regulatory asset decrease | 0.9 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 1.6 | $ | 1.3 | $ | (4.6 | ) | $ | (4.9 | ) | ||||||
Through the date of this filing, the Partnership has not made contributions to the Pension Plan in 2014, but expects to fund $3.0 million in 2014. | ||||||||||||||||
Defined Contribution Plans | ||||||||||||||||
The Partnership’s employees not covered under the Pension Plan are provided retirement benefits under a defined contribution money purchase plan. The Partnership also provides 401(k) plan benefits to its employees. Costs related to the Partnership’s defined contribution plans were $2.3 million and $2.2 million for the three months ended June 30, 2014 and 2013, and were $4.4 million and $4.4 million for the six months ended June 30, 2014 and 2013. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 10: 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 $2.2 million and $2.1 million for the three months ended June 30, 2014 and 2013 and $4.4 million and $4.2 million for the six months ended June 30, 2014 and 2013. | |
Distributions paid related to limited partner units held by BPHC and the 2% general partner interest and IDRs held by Boardwalk GP were $13.0 million and $72.3 million for the three months ended June 30, 2014 and 2013, and $26.0 million and $144.6 million for the six months ended June 30, 2014 and 2013. | |
In 2013, the Partnership entered into agreements with BPHC to form Boardwalk Bluegrass and Boardwalk Moss Lake. Through June 30, 2014 and December 31, 2013, the Partnership contributed $12.7 million and $11.9 million and BPHC contributed $97.8 million and $90.0 million of cash and other assets to these entities. In 2014, the Partnership received a $1.9 million distribution from Boardwalk Moss Lake and BPHC received a $7.1 million distribution. |
Recently_Issued_Accounting_Pro
Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
Note 11: Recently Issued Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09 (ASU 2014-09), Revenue from Contracts with Customers (Topic 606), which will require entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2016. The Partnership is evaluating the impact, if any, that ASU 2014-09 will have on its financial statements. |
Supplemental_Disclosure_of_Cas
Supplemental Disclosure of Cash Flow Information | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Supplemental Disclosure of Cash Flow Information | ' | |||||||
Note 12: Supplemental Disclosure of Cash Flow Information (in millions): | ||||||||
For the | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Cash paid during the period for: | ||||||||
Interest (net of amount capitalized) | $ | 76.1 | $ | 71.7 | ||||
Guarantee_of_Securities_of_Sub
Guarantee of Securities of Subsidiaries | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Guarantee of Securities of Subsidiaries | ' | ||||||||||||||||||||
Note 13: 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 June 30, 2014, and December 31, 2013. Note 8 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. | |||||||||||||||||||||
Condensed Consolidating Balance Sheets as of June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 1.9 | $ | 41.4 | $ | — | $ | 43.3 | |||||||||||
Receivables | — | — | 99.9 | — | 99.9 | ||||||||||||||||
Receivables - affiliate | — | — | 7 | (7.0 | ) | — | |||||||||||||||
Gas and liquids stored underground | — | — | 3.5 | — | 3.5 | ||||||||||||||||
Prepayments | 0.5 | 0.1 | 17.7 | — | 18.3 | ||||||||||||||||
Advances to affiliates | — | 2.5 | 160.4 | (162.9 | ) | — | |||||||||||||||
Other current assets | — | — | 12.2 | (1.6 | ) | 10.6 | |||||||||||||||
Total current assets | 0.5 | 4.5 | 342.1 | (171.5 | ) | 175.6 | |||||||||||||||
Investment in consolidated subsidiaries | 1,629.90 | 6,344.40 | — | (7,974.3 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,880.40 | — | 8,881.00 | ||||||||||||||||
Less–accumulated depreciation and | 0.6 | — | 1,621.70 | — | 1,622.30 | ||||||||||||||||
amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,258.70 | — | 7,258.70 | ||||||||||||||||
Other noncurrent assets | — | 3.2 | 423 | 0.4 | 426.6 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,478.40 | 182.8 | 865.9 | (3,527.1 | ) | — | |||||||||||||||
Total other assets | 2,478.40 | 186 | 1,288.90 | (3,526.7 | ) | 426.6 | |||||||||||||||
Total Assets | $ | 4,108.80 | $ | 6,534.90 | $ | 8,889.70 | $ | (11,672.5 | ) | $ | 7,860.90 | ||||||||||
Liabilities and Equity | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Payables | $ | 0.5 | $ | 0.2 | $ | 62.5 | $ | — | $ | 63.2 | |||||||||||
Payable to affiliates | 0.6 | — | 8.6 | (6.8 | ) | 2.4 | |||||||||||||||
Advances from affiliates | — | 160.4 | 2.5 | (162.9 | ) | — | |||||||||||||||
Other current liabilities | — | 19.8 | 137.1 | (1.3 | ) | 155.6 | |||||||||||||||
Total current liabilities | 1.1 | 180.4 | 210.7 | (171.0 | ) | 221.2 | |||||||||||||||
Total long-term debt and capital lease | — | 1,380.30 | 1,969.90 | — | 3,350.20 | ||||||||||||||||
obligation | |||||||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,344.30 | 182.8 | (3,527.1 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | 180.8 | (0.1 | ) | 180.7 | ||||||||||||||||
Total other liabilities and deferred | 16 | 3,344.30 | 363.6 | (3,527.2 | ) | 196.7 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners' capital | 4,091.70 | 1,629.90 | 6,344.40 | (7,974.3 | ) | 4,091.70 | |||||||||||||||
Noncontrolling interest | — | — | 1.1 | — | 1.1 | ||||||||||||||||
Total Equity | 4,091.70 | 1,629.90 | 6,345.50 | (7,974.3 | ) | 4,092.80 | |||||||||||||||
Total Liabilities and Equity | $ | 4,108.80 | $ | 6,534.90 | $ | 8,889.70 | $ | (11,672.5 | ) | $ | 7,860.90 | ||||||||||
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 & Equity | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
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 | 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 Equity | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Condensed Consolidating Statements of Income for the Three Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 268.5 | $ | (22.8 | ) | $ | 245.7 | ||||||||||
Parking and lending | — | — | 9.2 | — | 9.2 | ||||||||||||||||
Storage | — | — | 22.2 | (0.1 | ) | 22.1 | |||||||||||||||
Other | — | — | 16.4 | — | 16.4 | ||||||||||||||||
Total operating revenues | — | — | 316.3 | (22.9 | ) | 293.4 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 52.8 | (22.9 | ) | 29.9 | |||||||||||||||
Operation and maintenance | — | — | 43.9 | — | 43.9 | ||||||||||||||||
Administrative and general | — | — | 30.5 | — | 30.5 | ||||||||||||||||
Other operating costs and expenses | — | — | 92.6 | — | 92.6 | ||||||||||||||||
Total operating costs and expenses | — | — | 219.8 | (22.9 | ) | 196.9 | |||||||||||||||
Operating income | — | — | 96.5 | — | 96.5 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 18.7 | 21.5 | — | 40.2 | ||||||||||||||||
Interest (income) expense - affiliates | (7.6 | ) | 10.2 | (2.6 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (49.8 | ) | (78.7 | ) | — | 128.5 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 0.5 | — | 0.5 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Total other (income) deductions | (57.4 | ) | (49.8 | ) | 19.2 | 128.5 | 40.5 | ||||||||||||||
Income before income taxes | 57.4 | 49.8 | 77.3 | (128.5 | ) | 56 | |||||||||||||||
Income taxes | — | — | 0.1 | — | 0.1 | ||||||||||||||||
Net Income | 57.4 | 49.8 | 77.2 | (128.5 | ) | 55.9 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (1.5 | ) | — | (1.5 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 57.4 | $ | 49.8 | $ | 78.7 | $ | (128.5 | ) | $ | 57.4 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Three Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 264.6 | $ | (22.3 | ) | $ | 242.3 | ||||||||||
Parking and lending | — | — | 7.1 | — | 7.1 | ||||||||||||||||
Storage | — | — | 27.4 | — | 27.4 | ||||||||||||||||
Other | — | — | 11.9 | — | 11.9 | ||||||||||||||||
Total operating revenues | — | — | 311 | (22.3 | ) | 288.7 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 49.7 | (22.3 | ) | 27.4 | |||||||||||||||
Operation and maintenance | — | 0.3 | 43.5 | — | 43.8 | ||||||||||||||||
Administrative and general | — | 0.8 | 28.1 | — | 28.9 | ||||||||||||||||
Other operating costs and expenses | 0.1 | 0.1 | 77.3 | — | 77.5 | ||||||||||||||||
Total operating costs and expenses | 0.1 | 1.2 | 198.6 | (22.3 | ) | 177.6 | |||||||||||||||
Operating (loss) income | (0.1 | ) | (1.2 | ) | 112.4 | — | 111.1 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 18 | 22.7 | — | 40.7 | ||||||||||||||||
Interest (income) expense - affiliates | (8.2 | ) | 10.2 | (2.0 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (62.4 | ) | (91.8 | ) | — | 154.2 | — | ||||||||||||||
Total other (income) deductions | (70.6 | ) | (63.6 | ) | 20.6 | 154.2 | 40.6 | ||||||||||||||
Income before income taxes | 70.5 | 62.4 | 91.8 | (154.2 | ) | 70.5 | |||||||||||||||
Income taxes | — | — | 0.1 | — | 0.1 | ||||||||||||||||
Net Income | 70.5 | 62.4 | 91.7 | (154.2 | ) | 70.4 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 70.5 | $ | 62.4 | $ | 91.8 | $ | (154.2 | ) | $ | 70.5 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 595.6 | $ | (45.6 | ) | $ | 550 | ||||||||||
Parking and lending | — | — | 18.4 | — | 18.4 | ||||||||||||||||
Storage | — | — | 51 | (0.1 | ) | 50.9 | |||||||||||||||
Other | — | — | 31 | — | 31 | ||||||||||||||||
Total operating revenues | — | — | 696 | (45.7 | ) | 650.3 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 108.6 | (45.7 | ) | 62.9 | |||||||||||||||
Operation and maintenance | — | — | 86.6 | — | 86.6 | ||||||||||||||||
Administrative and general | (0.1 | ) | — | 57.4 | — | 57.3 | |||||||||||||||
Other operating costs and expenses | 0.1 | — | 194.3 | — | 194.4 | ||||||||||||||||
Total operating costs and expenses | — | — | 446.9 | (45.7 | ) | 401.2 | |||||||||||||||
Operating income | — | — | 249.1 | — | 249.1 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 37.4 | 43.7 | — | 81.1 | ||||||||||||||||
Interest (income) expense - affiliates | (15.4 | ) | 20.4 | (5.0 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (152.2 | ) | (210.0 | ) | — | 362.2 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 86.6 | — | 86.6 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Miscellaneous other income, net | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
Total other (income) deductions | (167.6 | ) | (152.2 | ) | 124.9 | 362.2 | 167.3 | ||||||||||||||
Income before income taxes | 167.6 | 152.2 | 124.2 | (362.2 | ) | 81.8 | |||||||||||||||
Income taxes | — | — | 0.3 | — | 0.3 | ||||||||||||||||
Net Income | 167.6 | 152.2 | 123.9 | (362.2 | ) | 81.5 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (86.1 | ) | — | (86.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 167.6 | $ | 152.2 | $ | 210 | $ | (362.2 | ) | $ | 167.6 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 570.4 | $ | (44.0 | ) | $ | 526.4 | ||||||||||
Parking and lending | — | — | 15 | — | 15 | ||||||||||||||||
Storage | — | — | 55.6 | (0.1 | ) | 55.5 | |||||||||||||||
Other | — | — | 20.3 | — | 20.3 | ||||||||||||||||
Total operating revenues | — | — | 661.3 | (44.1 | ) | 617.2 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 94.2 | (44.1 | ) | 50.1 | |||||||||||||||
Operation and maintenance | — | 0.3 | 83.7 | — | 84 | ||||||||||||||||
Administrative and general | — | 0.8 | 59.5 | — | 60.3 | ||||||||||||||||
Other operating costs and expenses | 0.1 | 0.1 | 169.8 | — | 170 | ||||||||||||||||
Total operating costs and expenses | 0.1 | 1.2 | 407.2 | (44.1 | ) | 364.4 | |||||||||||||||
Operating (loss) income | (0.1 | ) | (1.2 | ) | 254.1 | — | 252.8 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 35.2 | 46 | — | 81.2 | ||||||||||||||||
Interest (income) expense - affiliates | (16.6 | ) | 20.5 | (3.9 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (155.4 | ) | (212.3 | ) | — | 367.7 | — | ||||||||||||||
Miscellaneous other income, net | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
Total other (income) deductions | (172.0 | ) | (156.6 | ) | 41.6 | 367.7 | 80.7 | ||||||||||||||
Income before income taxes | 171.9 | 155.4 | 212.5 | (367.7 | ) | 172.1 | |||||||||||||||
Income taxes | — | — | 0.3 | — | 0.3 | ||||||||||||||||
Net Income | 171.9 | 155.4 | 212.2 | (367.7 | ) | 171.8 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 171.9 | $ | 155.4 | $ | 212.3 | $ | (367.7 | ) | $ | 171.9 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 57.4 | $ | 49.8 | $ | 77.2 | $ | (128.5 | ) | $ | 55.9 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Reclassification adjustment transferred | 0.7 | 0.7 | 0.3 | (1.0 | ) | 0.7 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (2.0 | ) | (2.0 | ) | (2.0 | ) | 4 | (2.0 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 56.1 | 48.5 | 75.5 | (125.5 | ) | 54.6 | |||||||||||||||
Comprehensive loss attributable to | — | — | (1.5 | ) | — | (1.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 56.1 | $ | 48.5 | $ | 77 | $ | (125.5 | ) | $ | 56.1 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 70.5 | $ | 62.4 | $ | 91.7 | $ | (154.2 | ) | $ | 70.4 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 7 | 7 | 7 | (14.0 | ) | 7 | |||||||||||||||
Reclassification adjustment transferred | 1 | 0.4 | 0.6 | (1.0 | ) | 1 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (1.9 | ) | (1.9 | ) | (1.9 | ) | 3.8 | (1.9 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 76.6 | 67.9 | 97.4 | (165.4 | ) | 76.5 | |||||||||||||||
Comprehensive loss attributable to | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 76.6 | $ | 67.9 | $ | 97.5 | $ | (165.4 | ) | $ | 76.6 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 167.6 | $ | 152.2 | $ | 123.9 | $ | (362.2 | ) | $ | 81.5 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
(Loss) gain on cash flow hedges | (0.9 | ) | (0.9 | ) | (0.9 | ) | 1.8 | (0.9 | ) | ||||||||||||
Reclassification adjustment transferred | 1.6 | 1.6 | 0.8 | (2.4 | ) | 1.6 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (3.9 | ) | (3.9 | ) | (3.9 | ) | 7.8 | (3.9 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 164.4 | 149 | 119.9 | (355.0 | ) | 78.3 | |||||||||||||||
Comprehensive loss attributable to | — | — | (86.1 | ) | — | (86.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 164.4 | $ | 149 | $ | 206 | $ | (355.0 | ) | $ | 164.4 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 171.9 | $ | 155.4 | $ | 212.2 | $ | (367.7 | ) | $ | 171.8 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 2.5 | 2.5 | 2.5 | (5.0 | ) | 2.5 | |||||||||||||||
Reclassification adjustment transferred | 1.1 | 0.9 | 0.2 | (1.1 | ) | 1.1 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (3.6 | ) | (3.6 | ) | (3.6 | ) | 7.2 | (3.6 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 171.9 | 155.2 | 211.3 | (366.6 | ) | 171.8 | |||||||||||||||
Comprehensive loss attributable to | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 171.9 | $ | 155.2 | $ | 211.4 | $ | (366.6 | ) | $ | 171.9 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 15.5 | $ | (55.8 | ) | $ | 348.4 | $ | — | $ | 308.1 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (162.7 | ) | — | (162.7 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 2.9 | — | 2.9 | ||||||||||||||||
Advances to affiliates | 33.8 | (16.6 | ) | (98.8 | ) | 81.7 | 0.1 | ||||||||||||||
Investment in unconsolidated affiliates | — | — | (20.3 | ) | — | (20.3 | ) | ||||||||||||||
Distribution from unconsolidated | — | — | 10.7 | — | 10.7 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Net cash provided by (used in) | 33.8 | (16.6 | ) | (268.2 | ) | 81.7 | (169.3 | ) | |||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 220 | — | 220 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (295.0 | ) | — | (295.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Principal payment of capital lease | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
obligation | |||||||||||||||||||||
Advances from affiliates | 0.1 | 65.1 | 16.6 | (81.7 | ) | 0.1 | |||||||||||||||
Distributions paid | (49.6 | ) | — | — | — | (49.6 | ) | ||||||||||||||
Capital contributions from | — | — | 7.8 | — | — | 7.8 | |||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Distributions paid to noncontrolling | — | — | (7.1 | ) | — | (7.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net cash (used in) provided by | (49.5 | ) | 65.1 | (57.9 | ) | (81.7 | ) | (124.0 | ) | ||||||||||||
financing activities | |||||||||||||||||||||
Increase in cash and cash | (0.2 | ) | (7.3 | ) | 22.3 | — | 14.8 | ||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.2 | 9.2 | 19.1 | — | 28.5 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | — | $ | 1.9 | $ | 41.4 | $ | — | $ | 43.3 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 17.6 | $ | (52.5 | ) | $ | 320.1 | $ | — | $ | 285.2 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (132.2 | ) | — | (132.2 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 21.2 | — | 21.2 | ||||||||||||||||
Proceeds from insurance and other | — | — | 1.4 | — | 1.4 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliates | (135.4 | ) | (56.5 | ) | 11.1 | 180.8 | — | ||||||||||||||
Investment in consolidated subsidiary | — | (15.1 | ) | — | 15.1 | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | (21.4 | ) | — | (21.4 | ) | ||||||||||||||
Net cash (used in) provided by | (135.4 | ) | (71.6 | ) | (119.9 | ) | 195.9 | (131.0 | ) | ||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 458 | — | 458 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (740.0 | ) | — | (740.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | — | 15.1 | (15.1 | ) | — | |||||||||||||||
Advances from affiliates | (2.4 | ) | 124.3 | 56.5 | (180.8 | ) | (2.4 | ) | |||||||||||||
Distributions paid | (256.4 | ) | — | — | — | (256.4 | ) | ||||||||||||||
Capital contribution from | — | — | 16.1 | — | 16.1 | ||||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Proceeds from sale of common units | 368.7 | — | — | — | 368.7 | ||||||||||||||||
Capital contributions from general partner | 7.8 | — | — | — | 7.8 | ||||||||||||||||
Net cash provided by (used in) | 117.7 | 124.3 | (194.3 | ) | (195.9 | ) | (148.2 | ) | |||||||||||||
financing activities | |||||||||||||||||||||
(Decrease) increase in cash and cash | (0.1 | ) | 0.2 | 5.9 | — | 6 | |||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.1 | 1 | 2.8 | — | 3.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | — | $ | 1.2 | $ | 8.7 | $ | — | $ | 9.9 | |||||||||||
end of period | |||||||||||||||||||||
Fair_Value_Measurements_Deriva
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Table Text Block [Abstract] | ' | |||||||||||||||||||||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | ' | |||||||||||||||||||||||
The Partnership’s assets that were recorded at fair value on a non-recurring basis as of June 30, 2014 were as follows (in millions): | ||||||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
30-Jun-14 | Quoted prices in active markets for identical assets | Significant other observable inputs | Significant unobservable inputs | Total Gains (losses) for the three months ended June 30, 2014 | Total | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | Gains | |||||||||||||||||||||
(losses) for the six months ended | ||||||||||||||||||||||||
June 30, | ||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||
Non-recurring fair value measurements - Assets | ||||||||||||||||||||||||
Assets held and used | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (7.1 | ) | (1) | ||||||||||
Investment in unconsolidated affiliates | — | — | — | — | — | (85.8 | ) | (1) | ||||||||||||||||
-1 | Net of noncontrolling interests of $82.9 million, the amount of the loss to the Partnership was $10.0 million. The impairment charge related to the assets held and used represents the carrying amount of the assets. The fair value of the investment in unconsolidated affiliates was determined to be available cash, after consideration for the settlement of certain working capital items. Note 2 contains more information regarding these measurements. Note 5 contains additional information related to asset impairment charges not included in the above table. |
Fair_Value_Measurements_Deriva1
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
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 Condensed Consolidated Balance Sheets for the three months ended June 30, 2014 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, April 1, 2014 | $ | (12.7 | ) | $ | (53.0 | ) | $ | (65.7 | ) | |||
Loss recorded in accumulated other comprehensive loss | — | — | — | |||||||||
Reclassifications: | ||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||
Interest expense | 0.6 | — | 0.6 | |||||||||
Pension and other postretirement benefit costs | — | (2.0 | ) | (2.0 | ) | |||||||
Ending balance, June 30, 2014 | $ | (12.0 | ) | $ | (55.0 | ) | $ | (67.0 | ) | |||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the three months ended June 30, 2013 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, April 1, 2013 | $ | (19.9 | ) | $ | (53.5 | ) | $ | (73.4 | ) | |||
Loss recorded in accumulated other comprehensive loss | 7 | — | 7 | |||||||||
Reclassifications: | ||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||
Other operating revenues | 0.3 | — | 0.3 | |||||||||
Interest expense | 0.6 | — | 0.6 | |||||||||
Pension and other postretirement benefit costs | — | (1.9 | ) | (1.9 | ) | |||||||
Ending balance, June 30, 2013 | $ | (11.9 | ) | $ | (55.4 | ) | $ | (67.3 | ) | |||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the six months ended June 30, 2014 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, January 1, 2014 | $ | (12.7 | ) | $ | (51.1 | ) | $ | (63.8 | ) | |||
Loss recorded in accumulated other comprehensive loss | (0.9 | ) | — | (0.9 | ) | |||||||
Reclassifications: | ||||||||||||
Transportation operating revenues | 0.2 | — | 0.2 | |||||||||
Other operating revenues | 0.2 | — | 0.2 | |||||||||
Interest expense | 1.2 | — | 1.2 | |||||||||
Pension and other postretirement benefit costs | — | (3.9 | ) | (3.9 | ) | |||||||
Ending balance, June 30, 2014 | $ | (12.0 | ) | $ | (55.0 | ) | $ | (67.0 | ) | |||
The following table shows the components and reclassifications to net income of Accumulated other comprehensive loss which is included in Partners' Capital on the Condensed Consolidated Balance Sheets for the six months ended June 30, 2013 (in millions): | ||||||||||||
Cash Flow Hedges | Pension and Other Postretirement Costs | Total | ||||||||||
Beginning balance, January 1, 2013 | $ | (15.5 | ) | $ | (51.8 | ) | $ | (67.3 | ) | |||
Loss recorded in accumulated other comprehensive loss | 2.5 | — | 2.5 | |||||||||
Reclassifications: | ||||||||||||
Transportation operating revenues | 0.1 | — | 0.1 | |||||||||
Other operating revenues | (0.2 | ) | — | (0.2 | ) | |||||||
Interest expense | 1.2 | — | 1.2 | |||||||||
Pension and other postretirement benefit costs | — | (3.6 | ) | (3.6 | ) | |||||||
Ending balance, June 30, 2013 | $ | (11.9 | ) | $ | (55.4 | ) | $ | (67.3 | ) |
Financial_Assets_and_Liabiliti
Financial Assets and Liabilities (Tables) | 6 Months Ended | |||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||
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 Condensed Consolidated Balance Sheets as of June 30, 2014, and December 31, 2013, were as follows (in millions): | ||||||||||||||||||||||
As of June 30, 2014 | Estimated Fair Value | |||||||||||||||||||||
Financial Assets | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Cash and cash equivalents | $ | 43.3 | $ | 43.3 | $ | — | $ | — | $ | 43.3 | ||||||||||||
Financial Liabilities | ||||||||||||||||||||||
Long-term debt | $ | 3,340.40 | (1) | $ | — | $ | 3,503.20 | $ | — | $ | 3,503.20 | |||||||||||
(1) The carrying amount of long-term debt excludes a $9.8 million capital lease obligation. | ||||||||||||||||||||||
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. |
Cash_Distributions_and_Net_Inc1
Cash Distributions and Net Income per Unit (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Partners' Capital Notes [Abstract] | ' | |||||||||||||||
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 units for purposes of computing net income per unit for the three months ended June 30, 2014, (in millions, except per unit data): | ||||||||||||||||
Total | Common | General Partner and IDRs | ||||||||||||||
Units | ||||||||||||||||
Net income | $ | 55.9 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (1.5 | ) | ||||||||||||||
Net income attributable to controlling interests | 57.4 | |||||||||||||||
Declared distribution | 24.8 | $ | 24.3 | $ | 0.5 | |||||||||||
Assumed allocation of undistributed net income | 32.6 | 32 | 0.6 | |||||||||||||
Assumed allocation of net income attributable to limited | $ | 57.4 | $ | 56.3 | $ | 1.1 | ||||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 243.3 | |||||||||||||||
Net income per unit | $ | 0.23 | ||||||||||||||
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 three months ended June 30, 2013, (in millions, except per unit data): | ||||||||||||||||
Total | Common | Class B | General Partner and IDRs | |||||||||||||
Units | Units | |||||||||||||||
Net income | $ | 70.4 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (0.1 | ) | ||||||||||||||
Net income attributable to controlling interests | 70.5 | |||||||||||||||
Declared distribution | 135.6 | $ | 117.3 | $ | 6.9 | $ | 11.4 | |||||||||
Assumed allocation of undistributed net loss | (65.1 | ) | (57.6 | ) | (6.2 | ) | (1.3 | ) | ||||||||
Assumed allocation of net income attributable to limited | $ | 70.5 | $ | 59.7 | $ | 0.7 | $ | 10.1 | ||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 212.3 | 22.9 | ||||||||||||||
Net income per unit | $ | 0.28 | $ | 0.03 | ||||||||||||
The following table provides a reconciliation of net income and the assumed allocation of net income to the common units for purposes of computing net income per unit for the six months ended June 30, 2014, (in millions, except per unit data): | ||||||||||||||||
Total | Common | General Partner and IDRs | ||||||||||||||
Units | ||||||||||||||||
Net income | $ | 81.5 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (86.1 | ) | ||||||||||||||
Net income attributable to controlling interests | 167.6 | |||||||||||||||
Declared distribution | 49.6 | $ | 48.7 | $ | 0.9 | |||||||||||
Assumed allocation of undistributed net income | 118 | 115.6 | 2.4 | |||||||||||||
Assumed allocation of net income attributable to limited | $ | 167.6 | $ | 164.3 | $ | 3.3 | ||||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 243.3 | |||||||||||||||
Net income per unit | $ | 0.68 | ||||||||||||||
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 six months ended June 30, 2013, (in millions, except per unit data): | ||||||||||||||||
Total | Common | Class B | General Partner and IDRs | |||||||||||||
Units | Units | |||||||||||||||
Net income | $ | 171.8 | ||||||||||||||
Less: Net loss attributable to noncontrolling interests | (0.1 | ) | ||||||||||||||
Net income attributable to controlling interests | $ | 171.9 | ||||||||||||||
Declared distribution | 263.8 | $ | 227.9 | $ | 13.7 | $ | 22.2 | |||||||||
Assumed allocation of undistributed net loss | (91.9 | ) | (81.2 | ) | (8.9 | ) | (1.8 | ) | ||||||||
Assumed allocation of net income attributable to limited | $ | 171.9 | $ | 146.7 | $ | 4.8 | $ | 20.4 | ||||||||
partner unitholders and general partner | ||||||||||||||||
Weighted-average units outstanding | 210 | 22.9 | ||||||||||||||
Net income per unit | $ | 0.7 | $ | 0.21 | ||||||||||||
Employee_Benefits_Tables
Employee Benefits (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the three months ended June 30, 2014 and 2013 were as follows (in millions): | ||||||||||||||||
Retirement Plans | PBOP | |||||||||||||||
For the | For the | |||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | $ | 1 | $ | 1.1 | $ | 0.1 | $ | 0.1 | ||||||||
Interest cost | 1.4 | 1.2 | 0.6 | 0.4 | ||||||||||||
Expected return on plan assets | (2.4 | ) | (2.3 | ) | (1.0 | ) | (1.1 | ) | ||||||||
Amortization of prior service credit | — | — | (2.0 | ) | (1.9 | ) | ||||||||||
Amortization of unrecognized net loss | 0.3 | 0.6 | — | (0.1 | ) | |||||||||||
Regulatory asset decrease | 0.5 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 0.8 | $ | 0.6 | $ | (2.3 | ) | $ | (2.6 | ) | ||||||
Components of net periodic benefit cost for both the Retirement Plans and PBOP for the six months ended June 30, 2014 and 2013 were as follows (in millions): | ||||||||||||||||
Retirement Plans | PBOP | |||||||||||||||
For the | For the | |||||||||||||||
Six Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Service cost | $ | 2 | $ | 2.2 | $ | 0.2 | $ | 0.2 | ||||||||
Interest cost | 2.8 | 2.4 | 1.1 | 0.9 | ||||||||||||
Expected return on plan assets | (4.7 | ) | (4.5 | ) | (2.1 | ) | (2.2 | ) | ||||||||
Amortization of prior service credit | — | — | (3.9 | ) | (3.8 | ) | ||||||||||
Amortization of unrecognized net loss | 0.6 | 1.2 | 0.1 | — | ||||||||||||
Regulatory asset decrease | 0.9 | — | — | — | ||||||||||||
Net periodic benefit cost | $ | 1.6 | $ | 1.3 | $ | (4.6 | ) | $ | (4.9 | ) | ||||||
Through the date of this filing, the Partnership has not made contributions to the Pension Plan in 2014, but expects to fund $3.0 million in 2014. | ||||||||||||||||
Supplemental_Disclosure_of_Cas1
Supplemental Disclosure of Cash Flow Information (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||
Supplemental Disclosure of Cash Flow Information (in millions): | ||||||||
For the | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Cash paid during the period for: | ||||||||
Interest (net of amount capitalized) | $ | 76.1 | $ | 71.7 | ||||
Guarantee_of_Securities_of_Sub1
Guarantee of Securities of Subsidiaries (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | ||||||||||||||||||||
Condensed Consolidating Balance Sheets as of June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Assets | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 1.9 | $ | 41.4 | $ | — | $ | 43.3 | |||||||||||
Receivables | — | — | 99.9 | — | 99.9 | ||||||||||||||||
Receivables - affiliate | — | — | 7 | (7.0 | ) | — | |||||||||||||||
Gas and liquids stored underground | — | — | 3.5 | — | 3.5 | ||||||||||||||||
Prepayments | 0.5 | 0.1 | 17.7 | — | 18.3 | ||||||||||||||||
Advances to affiliates | — | 2.5 | 160.4 | (162.9 | ) | — | |||||||||||||||
Other current assets | — | — | 12.2 | (1.6 | ) | 10.6 | |||||||||||||||
Total current assets | 0.5 | 4.5 | 342.1 | (171.5 | ) | 175.6 | |||||||||||||||
Investment in consolidated subsidiaries | 1,629.90 | 6,344.40 | — | (7,974.3 | ) | — | |||||||||||||||
Property, plant and equipment, gross | 0.6 | — | 8,880.40 | — | 8,881.00 | ||||||||||||||||
Less–accumulated depreciation and | 0.6 | — | 1,621.70 | — | 1,622.30 | ||||||||||||||||
amortization | |||||||||||||||||||||
Property, plant and equipment, net | — | — | 7,258.70 | — | 7,258.70 | ||||||||||||||||
Other noncurrent assets | — | 3.2 | 423 | 0.4 | 426.6 | ||||||||||||||||
Advances to affiliates – noncurrent | 2,478.40 | 182.8 | 865.9 | (3,527.1 | ) | — | |||||||||||||||
Total other assets | 2,478.40 | 186 | 1,288.90 | (3,526.7 | ) | 426.6 | |||||||||||||||
Total Assets | $ | 4,108.80 | $ | 6,534.90 | $ | 8,889.70 | $ | (11,672.5 | ) | $ | 7,860.90 | ||||||||||
Liabilities and Equity | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Payables | $ | 0.5 | $ | 0.2 | $ | 62.5 | $ | — | $ | 63.2 | |||||||||||
Payable to affiliates | 0.6 | — | 8.6 | (6.8 | ) | 2.4 | |||||||||||||||
Advances from affiliates | — | 160.4 | 2.5 | (162.9 | ) | — | |||||||||||||||
Other current liabilities | — | 19.8 | 137.1 | (1.3 | ) | 155.6 | |||||||||||||||
Total current liabilities | 1.1 | 180.4 | 210.7 | (171.0 | ) | 221.2 | |||||||||||||||
Total long-term debt and capital lease | — | 1,380.30 | 1,969.90 | — | 3,350.20 | ||||||||||||||||
obligation | |||||||||||||||||||||
Payable to affiliate - noncurrent | 16 | — | — | — | 16 | ||||||||||||||||
Advances from affiliates - noncurrent | — | 3,344.30 | 182.8 | (3,527.1 | ) | — | |||||||||||||||
Other noncurrent liabilities | — | 180.8 | (0.1 | ) | 180.7 | ||||||||||||||||
Total other liabilities and deferred | 16 | 3,344.30 | 363.6 | (3,527.2 | ) | 196.7 | |||||||||||||||
credits | |||||||||||||||||||||
Total partners' capital | 4,091.70 | 1,629.90 | 6,344.40 | (7,974.3 | ) | 4,091.70 | |||||||||||||||
Noncontrolling interest | — | — | 1.1 | — | 1.1 | ||||||||||||||||
Total Equity | 4,091.70 | 1,629.90 | 6,345.50 | (7,974.3 | ) | 4,092.80 | |||||||||||||||
Total Liabilities and Equity | $ | 4,108.80 | $ | 6,534.90 | $ | 8,889.70 | $ | (11,672.5 | ) | $ | 7,860.90 | ||||||||||
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 & Equity | Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | ||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
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 | 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 Equity | $ | 3,993.80 | $ | 6,320.00 | $ | 8,850.60 | $ | (11,249.9 | ) | $ | 7,914.50 | ||||||||||
Condensed Consolidating Statements of Income | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Income for the Three Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 268.5 | $ | (22.8 | ) | $ | 245.7 | ||||||||||
Parking and lending | — | — | 9.2 | — | 9.2 | ||||||||||||||||
Storage | — | — | 22.2 | (0.1 | ) | 22.1 | |||||||||||||||
Other | — | — | 16.4 | — | 16.4 | ||||||||||||||||
Total operating revenues | — | — | 316.3 | (22.9 | ) | 293.4 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 52.8 | (22.9 | ) | 29.9 | |||||||||||||||
Operation and maintenance | — | — | 43.9 | — | 43.9 | ||||||||||||||||
Administrative and general | — | — | 30.5 | — | 30.5 | ||||||||||||||||
Other operating costs and expenses | — | — | 92.6 | — | 92.6 | ||||||||||||||||
Total operating costs and expenses | — | — | 219.8 | (22.9 | ) | 196.9 | |||||||||||||||
Operating income | — | — | 96.5 | — | 96.5 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 18.7 | 21.5 | — | 40.2 | ||||||||||||||||
Interest (income) expense - affiliates | (7.6 | ) | 10.2 | (2.6 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (49.8 | ) | (78.7 | ) | — | 128.5 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 0.5 | — | 0.5 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Total other (income) deductions | (57.4 | ) | (49.8 | ) | 19.2 | 128.5 | 40.5 | ||||||||||||||
Income before income taxes | 57.4 | 49.8 | 77.3 | (128.5 | ) | 56 | |||||||||||||||
Income taxes | — | — | 0.1 | — | 0.1 | ||||||||||||||||
Net Income | 57.4 | 49.8 | 77.2 | (128.5 | ) | 55.9 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (1.5 | ) | — | (1.5 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 57.4 | $ | 49.8 | $ | 78.7 | $ | (128.5 | ) | $ | 57.4 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Three Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 264.6 | $ | (22.3 | ) | $ | 242.3 | ||||||||||
Parking and lending | — | — | 7.1 | — | 7.1 | ||||||||||||||||
Storage | — | — | 27.4 | — | 27.4 | ||||||||||||||||
Other | — | — | 11.9 | — | 11.9 | ||||||||||||||||
Total operating revenues | — | — | 311 | (22.3 | ) | 288.7 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 49.7 | (22.3 | ) | 27.4 | |||||||||||||||
Operation and maintenance | — | 0.3 | 43.5 | — | 43.8 | ||||||||||||||||
Administrative and general | — | 0.8 | 28.1 | — | 28.9 | ||||||||||||||||
Other operating costs and expenses | 0.1 | 0.1 | 77.3 | — | 77.5 | ||||||||||||||||
Total operating costs and expenses | 0.1 | 1.2 | 198.6 | (22.3 | ) | 177.6 | |||||||||||||||
Operating (loss) income | (0.1 | ) | (1.2 | ) | 112.4 | — | 111.1 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 18 | 22.7 | — | 40.7 | ||||||||||||||||
Interest (income) expense - affiliates | (8.2 | ) | 10.2 | (2.0 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (62.4 | ) | (91.8 | ) | — | 154.2 | — | ||||||||||||||
Total other (income) deductions | (70.6 | ) | (63.6 | ) | 20.6 | 154.2 | 40.6 | ||||||||||||||
Income before income taxes | 70.5 | 62.4 | 91.8 | (154.2 | ) | 70.5 | |||||||||||||||
Income taxes | — | — | 0.1 | — | 0.1 | ||||||||||||||||
Net Income | 70.5 | 62.4 | 91.7 | (154.2 | ) | 70.4 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 70.5 | $ | 62.4 | $ | 91.8 | $ | (154.2 | ) | $ | 70.5 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 595.6 | $ | (45.6 | ) | $ | 550 | ||||||||||
Parking and lending | — | — | 18.4 | — | 18.4 | ||||||||||||||||
Storage | — | — | 51 | (0.1 | ) | 50.9 | |||||||||||||||
Other | — | — | 31 | — | 31 | ||||||||||||||||
Total operating revenues | — | — | 696 | (45.7 | ) | 650.3 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 108.6 | (45.7 | ) | 62.9 | |||||||||||||||
Operation and maintenance | — | — | 86.6 | — | 86.6 | ||||||||||||||||
Administrative and general | (0.1 | ) | — | 57.4 | — | 57.3 | |||||||||||||||
Other operating costs and expenses | 0.1 | — | 194.3 | — | 194.4 | ||||||||||||||||
Total operating costs and expenses | — | — | 446.9 | (45.7 | ) | 401.2 | |||||||||||||||
Operating income | — | — | 249.1 | — | 249.1 | ||||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 37.4 | 43.7 | — | 81.1 | ||||||||||||||||
Interest (income) expense - affiliates | (15.4 | ) | 20.4 | (5.0 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (152.2 | ) | (210.0 | ) | — | 362.2 | — | ||||||||||||||
Equity losses in unconsolidated | — | — | 86.6 | — | 86.6 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Miscellaneous other income, net | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
Total other (income) deductions | (167.6 | ) | (152.2 | ) | 124.9 | 362.2 | 167.3 | ||||||||||||||
Income before income taxes | 167.6 | 152.2 | 124.2 | (362.2 | ) | 81.8 | |||||||||||||||
Income taxes | — | — | 0.3 | — | 0.3 | ||||||||||||||||
Net Income | 167.6 | 152.2 | 123.9 | (362.2 | ) | 81.5 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (86.1 | ) | — | (86.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 167.6 | $ | 152.2 | $ | 210 | $ | (362.2 | ) | $ | 167.6 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements of Income for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||
Transportation | $ | — | $ | — | $ | 570.4 | $ | (44.0 | ) | $ | 526.4 | ||||||||||
Parking and lending | — | — | 15 | — | 15 | ||||||||||||||||
Storage | — | — | 55.6 | (0.1 | ) | 55.5 | |||||||||||||||
Other | — | — | 20.3 | — | 20.3 | ||||||||||||||||
Total operating revenues | — | — | 661.3 | (44.1 | ) | 617.2 | |||||||||||||||
Operating Cost and Expenses: | |||||||||||||||||||||
Fuel and transportation | — | — | 94.2 | (44.1 | ) | 50.1 | |||||||||||||||
Operation and maintenance | — | 0.3 | 83.7 | — | 84 | ||||||||||||||||
Administrative and general | — | 0.8 | 59.5 | — | 60.3 | ||||||||||||||||
Other operating costs and expenses | 0.1 | 0.1 | 169.8 | — | 170 | ||||||||||||||||
Total operating costs and expenses | 0.1 | 1.2 | 407.2 | (44.1 | ) | 364.4 | |||||||||||||||
Operating (loss) income | (0.1 | ) | (1.2 | ) | 254.1 | — | 252.8 | ||||||||||||||
Other Deductions (Income): | |||||||||||||||||||||
Interest expense | — | 35.2 | 46 | — | 81.2 | ||||||||||||||||
Interest (income) expense - affiliates | (16.6 | ) | 20.5 | (3.9 | ) | — | — | ||||||||||||||
Interest income | — | — | (0.3 | ) | — | (0.3 | ) | ||||||||||||||
Equity in earnings of subsidiaries | (155.4 | ) | (212.3 | ) | — | 367.7 | — | ||||||||||||||
Miscellaneous other income, net | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
Total other (income) deductions | (172.0 | ) | (156.6 | ) | 41.6 | 367.7 | 80.7 | ||||||||||||||
Income before income taxes | 171.9 | 155.4 | 212.5 | (367.7 | ) | 172.1 | |||||||||||||||
Income taxes | — | — | 0.3 | — | 0.3 | ||||||||||||||||
Net Income | 171.9 | 155.4 | 212.2 | (367.7 | ) | 171.8 | |||||||||||||||
Net loss attributable to noncontrolling | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net income attributable to controlling | $ | 171.9 | $ | 155.4 | $ | 212.3 | $ | (367.7 | ) | $ | 171.9 | ||||||||||
interests | |||||||||||||||||||||
Condensed Consolidating Statements Of Comprehensive Income | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 57.4 | $ | 49.8 | $ | 77.2 | $ | (128.5 | ) | $ | 55.9 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Reclassification adjustment transferred | 0.7 | 0.7 | 0.3 | (1.0 | ) | 0.7 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (2.0 | ) | (2.0 | ) | (2.0 | ) | 4 | (2.0 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 56.1 | 48.5 | 75.5 | (125.5 | ) | 54.6 | |||||||||||||||
Comprehensive loss attributable to | — | — | (1.5 | ) | — | (1.5 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 56.1 | $ | 48.5 | $ | 77 | $ | (125.5 | ) | $ | 56.1 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 70.5 | $ | 62.4 | $ | 91.7 | $ | (154.2 | ) | $ | 70.4 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 7 | 7 | 7 | (14.0 | ) | 7 | |||||||||||||||
Reclassification adjustment transferred | 1 | 0.4 | 0.6 | (1.0 | ) | 1 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (1.9 | ) | (1.9 | ) | (1.9 | ) | 3.8 | (1.9 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 76.6 | 67.9 | 97.4 | (165.4 | ) | 76.5 | |||||||||||||||
Comprehensive loss attributable to | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 76.6 | $ | 67.9 | $ | 97.5 | $ | (165.4 | ) | $ | 76.6 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 167.6 | $ | 152.2 | $ | 123.9 | $ | (362.2 | ) | $ | 81.5 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
(Loss) gain on cash flow hedges | (0.9 | ) | (0.9 | ) | (0.9 | ) | 1.8 | (0.9 | ) | ||||||||||||
Reclassification adjustment transferred | 1.6 | 1.6 | 0.8 | (2.4 | ) | 1.6 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (3.9 | ) | (3.9 | ) | (3.9 | ) | 7.8 | (3.9 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 164.4 | 149 | 119.9 | (355.0 | ) | 78.3 | |||||||||||||||
Comprehensive loss attributable to | — | — | (86.1 | ) | — | (86.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 164.4 | $ | 149 | $ | 206 | $ | (355.0 | ) | $ | 164.4 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net Income | $ | 171.9 | $ | 155.4 | $ | 212.2 | $ | (367.7 | ) | $ | 171.8 | ||||||||||
Other comprehensive income (loss): | |||||||||||||||||||||
Gain (loss) on cash flow hedges | 2.5 | 2.5 | 2.5 | (5.0 | ) | 2.5 | |||||||||||||||
Reclassification adjustment transferred | 1.1 | 0.9 | 0.2 | (1.1 | ) | 1.1 | |||||||||||||||
to Net Income from cash flow hedges | |||||||||||||||||||||
Pension and other postretirement | (3.6 | ) | (3.6 | ) | (3.6 | ) | 7.2 | (3.6 | ) | ||||||||||||
benefit costs | |||||||||||||||||||||
Total Comprehensive Income | 171.9 | 155.2 | 211.3 | (366.6 | ) | 171.8 | |||||||||||||||
Comprehensive loss attributable to | — | — | (0.1 | ) | — | (0.1 | ) | ||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Comprehensive income attributable to | $ | 171.9 | $ | 155.2 | $ | 211.4 | $ | (366.6 | ) | $ | 171.9 | ||||||||||
controlling interests | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Six Months Ended June 30, 2014 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 15.5 | $ | (55.8 | ) | $ | 348.4 | $ | — | $ | 308.1 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (162.7 | ) | — | (162.7 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 2.9 | — | 2.9 | ||||||||||||||||
Advances to affiliates | 33.8 | (16.6 | ) | (98.8 | ) | 81.7 | 0.1 | ||||||||||||||
Investment in unconsolidated affiliates | — | — | (20.3 | ) | — | (20.3 | ) | ||||||||||||||
Distribution from unconsolidated | — | — | 10.7 | — | 10.7 | ||||||||||||||||
affiliates | |||||||||||||||||||||
Net cash provided by (used in) | 33.8 | (16.6 | ) | (268.2 | ) | 81.7 | (169.3 | ) | |||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 220 | — | 220 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (295.0 | ) | — | (295.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Principal payment of capital lease | — | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||||
obligation | |||||||||||||||||||||
Advances from affiliates | 0.1 | 65.1 | 16.6 | (81.7 | ) | 0.1 | |||||||||||||||
Distributions paid | (49.6 | ) | — | — | — | (49.6 | ) | ||||||||||||||
Capital contributions from | — | — | 7.8 | — | — | 7.8 | |||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Distributions paid to noncontrolling | — | — | (7.1 | ) | — | (7.1 | ) | ||||||||||||||
interests | |||||||||||||||||||||
Net cash (used in) provided by | (49.5 | ) | 65.1 | (57.9 | ) | (81.7 | ) | (124.0 | ) | ||||||||||||
financing activities | |||||||||||||||||||||
Increase in cash and cash | (0.2 | ) | (7.3 | ) | 22.3 | — | 14.8 | ||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.2 | 9.2 | 19.1 | — | 28.5 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | — | $ | 1.9 | $ | 41.4 | $ | — | $ | 43.3 | |||||||||||
end of period | |||||||||||||||||||||
Condensed Consolidating Statements of Cash Flow for the Six Months Ended June 30, 2013 | |||||||||||||||||||||
(Millions) | |||||||||||||||||||||
Parent | Subsidiary | Non-guarantor Subsidiaries | Eliminations | Consolidated Boardwalk Pipeline Partners, LP | |||||||||||||||||
Guarantor | Issuer | ||||||||||||||||||||
Net cash provided by (used in) | $ | 17.6 | $ | (52.5 | ) | $ | 320.1 | $ | — | $ | 285.2 | ||||||||||
operating activities | |||||||||||||||||||||
INVESTING ACTIVITIES: | |||||||||||||||||||||
Capital expenditures | — | — | (132.2 | ) | — | (132.2 | ) | ||||||||||||||
Proceeds from sale of operating assets | — | — | 21.2 | — | 21.2 | ||||||||||||||||
Proceeds from insurance and other | — | — | 1.4 | — | 1.4 | ||||||||||||||||
recoveries | |||||||||||||||||||||
Advances to affiliates | (135.4 | ) | (56.5 | ) | 11.1 | 180.8 | — | ||||||||||||||
Investment in consolidated subsidiary | — | (15.1 | ) | — | 15.1 | — | |||||||||||||||
Investment in unconsolidated affiliates | — | — | (21.4 | ) | — | (21.4 | ) | ||||||||||||||
Net cash (used in) provided by | (135.4 | ) | (71.6 | ) | (119.9 | ) | 195.9 | (131.0 | ) | ||||||||||||
investing activities | |||||||||||||||||||||
FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from borrowings on revolving | — | — | 458 | — | 458 | ||||||||||||||||
credit agreement | |||||||||||||||||||||
Repayment of borrowings on revolving | — | — | (740.0 | ) | — | (740.0 | ) | ||||||||||||||
credit agreement | |||||||||||||||||||||
Contribution from parent | — | — | 15.1 | (15.1 | ) | — | |||||||||||||||
Advances from affiliates | (2.4 | ) | 124.3 | 56.5 | (180.8 | ) | (2.4 | ) | |||||||||||||
Distributions paid | (256.4 | ) | — | — | — | (256.4 | ) | ||||||||||||||
Capital contribution from | — | — | 16.1 | — | 16.1 | ||||||||||||||||
noncontrolling interests | |||||||||||||||||||||
Proceeds from sale of common units | 368.7 | — | — | — | 368.7 | ||||||||||||||||
Capital contributions from general partner | 7.8 | — | — | — | 7.8 | ||||||||||||||||
Net cash provided by (used in) | 117.7 | 124.3 | (194.3 | ) | (195.9 | ) | (148.2 | ) | |||||||||||||
financing activities | |||||||||||||||||||||
(Decrease) increase in cash and cash | (0.1 | ) | 0.2 | 5.9 | — | 6 | |||||||||||||||
equivalents | |||||||||||||||||||||
Cash and cash equivalents at | 0.1 | 1 | 2.8 | — | 3.9 | ||||||||||||||||
beginning of period | |||||||||||||||||||||
Cash and cash equivalents at | $ | — | $ | 1.2 | $ | 8.7 | $ | — | $ | 9.9 | |||||||||||
end of period | |||||||||||||||||||||
Basis_of_Presentation_Details
Basis of Presentation (Details) | 3 Months Ended | 6 Months Ended | 0 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Aug. 04, 2014 | Aug. 04, 2014 |
Boardwalk Pipelines Holding Company | Boardwalk GP, LP [Member] | |||||
Subsequent Event | Subsequent Event | |||||
Basis of Presentation [Line Items] | ' | ' | ' | ' | ' | ' |
Number Of Partnerships Common Units Owned By Holding Company | ' | ' | ' | ' | 125.6 | ' |
Percent of general partner interest owned by holding company | 2.00% | 2.00% | 2.00% | 2.00% | ' | 2.00% |
Percentage of Partnership's equity interests owned by holding company (in hundredths) | ' | ' | ' | ' | 53.00% | ' |
Investments_Details
Investments (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Mar. 31, 2014 |
Boardwalk Bluegrass | Boardwalk Bluegrass | Boardwalk Moss Lake | Boardwalk Moss Lake | Boardwalk Bluegrass and Boardwalk Moss Lake | Boardwalk Bluegrass and Boardwalk Moss Lake | Moss Lake Fractionation and Moss Lake LPG | Bluegrass Pipeline | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG | Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG | Boardwalk Bluegrass and Boardwalk Moss Lake, Bluegrass Pipeline, Moss Lake Fractionation and Moss Lake LPG [Member] | |||||||
Boardwalk Pipeline Partners, LP | Boardwalk Pipeline Partners, LP | Boardwalk Pipeline Partners, LP | Boardwalk Pipeline Partners, LP | Boardwalk Pipeline Partners, LP | Boardwalk Pipeline Partners, LP | Boardwalk Moss Lake | Boardwalk Bluegrass | Boardwalk Pipeline Partners, LP | Affiliates of Williams | Boardwalk Bluegrass and Boardwalk Moss Lake | Boardwalk Bluegrass and Boardwalk Moss Lake | Boardwalk Pipeline Partners, LP | |||||||
Variable Interest Entity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | 50.00% | ' | ' | ' |
Total Project Related Impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $92.90 |
Income (Loss) from Impairment Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82.9 |
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 23.00% | 23.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Equity Method Investments | -0.5 | 0 | -86.6 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10 |
Distribution from unconsolidated affiliates | ' | ' | 10.7 | 0 | ' | ' | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 43.3 | 9.9 | 43.3 | 9.9 | 28.5 | 3.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 15 | ' |
Investment in unconsolidated affiliates | 0 | ' | 0 | ' | 78.6 | ' | ' | ' | ' | ' | 12.7 | 11.9 | ' | ' | ' | ' | 0 | 78.6 | ' |
Construction work in progress | 235.5 | ' | 235.5 | ' | 174.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 6.8 | ' |
Trade payables | 49.9 | ' | 49.9 | ' | 65.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0.2 | ' |
Other payables | 13.3 | ' | 13.3 | ' | 5.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 4.7 | ' |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.90 | ' | ' | $78.60 | ' |
Gas_and_Liquids_Stored_Undergr1
Gas and Liquids Stored Underground And Gas and NGLs Receivables And Payables (Details) (Gas and NGLs Loaned to Customers [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | MMBTU | MMBTU |
MMBbls | MMBbls | |
Gas and NGLs Loaned to Customers [Member] | ' | ' |
Gas and Liquids Stored Underground and Gas and NGLs Receivables and Payables [Line Items] | ' | ' |
Gas Balancing Volume Amount (in MMbtu) | 20,200,000 | 19,600,000 |
Average market price per million British thermal units | 4.46 | ' |
Market value of gas owed to operating subsidiaries due to gas imbalances and gas loaned under PAL and no-notice services | $90.10 | ' |
Natural Gas Liquids Balancing Volume (in MMbbls) | 0.1 | 0 |
Fair_Value_Measurements_Deriva2
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Fair Value Measurements Assets and Liabilities Measured on Recurring and Nonrecurring (Details) (Fair Value, Measurements, Nonrecurring, USD $) | 3 Months Ended | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets held and used | $0 | $0 |
Impaired Long-Lived Assets Held and Used, Asset Description | 0 | -7.1 |
Investment in unconsolidated affiliates | 0 | 0 |
Equity Method Investment, Other than Temporary Impairment | 0 | -85.8 |
Income (Loss) from Impairment Attributable to Noncontrolling Interest | ' | 82.9 |
Income (Loss) from Impairments Attributable to Parent | ' | 10 |
Liabilities, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets held and used | 0 | 0 |
Investment in unconsolidated affiliates | 0 | 0 |
Fair Value, Inputs, Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets held and used | 0 | 0 |
Investment in unconsolidated affiliates | 0 | 0 |
Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets held and used | 0 | 0 |
Investment in unconsolidated affiliates | $0 | $0 |
Derivatives_Details
Derivatives (Details) (USD $) | 6 Months Ended | |||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Gas stored underground | $3.20 | ' | $0.30 | ' | ' | ' |
Accumulated other comprehensive loss | -67 | -65.7 | -63.8 | -67.3 | -73.4 | -67.3 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss | -12 | -12.7 | -12.7 | -11.9 | -19.9 | -15.5 |
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -2.4 | ' | ' | ' | ' | ' |
Commodity Contract | Designated as Hedging Instrument | Other current liabilities | ' | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 0.1 | ' | ' | ' | ' | ' |
Commodity Contract | Designated as Hedging Instrument | Other current assets | ' | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | ' | ' | $0.50 | ' | ' | ' |
Fair_Value_Measurements_Deriva3
Fair Value Measurements, Derivatives and Other Comprehensive Income (OCI) Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Beginning balance | ($65.70) | ($73.40) | ($63.80) | ($67.30) |
Loss recorded in accumulated other comprehensive loss | 0 | 7 | -0.9 | 2.5 |
Transportation operating revenues | -245.7 | -242.3 | -550 | -526.4 |
Other operating revenues | -16.4 | -11.9 | -31 | -20.3 |
Interest expense | 40.2 | 40.7 | 81.1 | 81.2 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Ending balance | -67 | -67.3 | -67 | -67.3 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Transportation operating revenues | 0.1 | 0.1 | 0.2 | 0.1 |
Other operating revenues | ' | 0.3 | 0.2 | -0.2 |
Interest expense | 0.6 | 0.6 | 1.2 | 1.2 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Beginning balance | -12.7 | -19.9 | -12.7 | -15.5 |
Loss recorded in accumulated other comprehensive loss | 0 | 7 | -0.9 | 2.5 |
Pension and other postretirement benefit costs | 0 | 0 | 0 | 0 |
Ending balance | -12 | -11.9 | -12 | -11.9 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Transportation operating revenues | 0.1 | 0.1 | 0.2 | 0.1 |
Other operating revenues | ' | 0.3 | 0.2 | -0.2 |
Interest expense | 0.6 | 0.6 | 1.2 | 1.2 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Beginning balance | -53 | -53.5 | -51.1 | -51.8 |
Loss recorded in accumulated other comprehensive loss | 0 | 0 | 0 | 0 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Ending balance | -55 | -55.4 | -55 | -55.4 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Transportation operating revenues | 0 | 0 | 0 | 0 |
Other operating revenues | ' | 0 | 0 | 0 |
Interest expense | $0 | $0 | $0 | $0 |
Financial_Assets_and_Liabiliti1
Financial Assets and Liabilities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ||
Cash and cash equivalents | $43.30 | $28.50 | $9.90 | $3.90 | ||
Capital Lease Obligations, Noncurrent | 9.8 | 10 | ' | ' | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' | ' | ||
Cash and Cash Equivalents, Fair Value Disclosure | 43.3 | 28.5 | ' | ' | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' | ' | ||
Long-term debt | 3,503.20 | 3,573.80 | ' | ' | ||
Carrying Amount | ' | ' | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ||
Cash and cash equivalents | 43.3 | 28.5 | ' | ' | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' | ' | ||
Long-term Debt | 3,340.40 | [1] | 3,414.40 | [2] | ' | ' |
Fair Value | Fair Value, Inputs, Level 1 | ' | ' | ' | ' | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' | ' | ' | ||
Cash and Cash Equivalents, Fair Value Disclosure | 43.3 | 28.5 | ' | ' | ||
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' | ' | ' | ||
Long-term debt | 0 | 0 | ' | ' | ||
Fair Value | 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 | 3,503.20 | 3,573.80 | ' | ' | ||
Fair Value | 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 | $0 | $0 | ' | ' | ||
[1] | The carrying amount of long-term debt excludes a $9.8 million capital lease obligation. | |||||
[2] | The carrying amount of long-term debt excludes a $10.0 million capital lease obligation. |
Property_Plant_and_Equipment_P
Property, Plant and Equipment Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
MMcf | ||||
Gain (Loss) on Disposition of Other Assets | ' | $17 | ' | ' |
Asset impairment | 1.4 | 1.1 | 8.6 | 1.2 |
Volume Of Gas Sold (in MMcf) | ' | 5,000 | ' | ' |
Asset Retirement Obligation, Revision of Estimate | ' | ' | $1.30 | $1.20 |
Commitments_and_Contingencies_
Commitments and Contingencies Legal Proceedings and Settlements (Details) | 6 Months Ended |
Jun. 30, 2014 | |
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_1
Commitments and Contingencies (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Environmental and Safety Matters [Abstract] | ' | ' |
Accrual for Environmental Loss Contingencies | $6.20 | $6.50 |
Number of years the related expenditures are expected to cover assessment and remediation costs (in years) | '8 | ' |
Accrued Environmental Loss Contingencies, Current | 1.5 | 1.5 |
Accrued Environmental Loss Contingencies, Noncurrent | 4.7 | 5 |
Commitments for Construction [Abstract] | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | $173.40 | ' |
Cash_Distributions_and_Net_Inc2
Cash Distributions and Net Income per Unit (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||
In Millions, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jul. 31, 2014 |
Common Units | Common Units | Common Units | Common Units | Class B Units | Class B Units | General Partner and IDRs | General Partner and IDRs | General Partner and IDRs | General Partner and IDRs | Subsequent Event | |||||
Quarterly distributions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash distribution declared and paid to common units | $0.10 | $0.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of general partner interest owned by holding company | 2.00% | 2.00% | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash distribution to class B units | $0 | $0.30 | $0 | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation And Allocation of Net Income By Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends Payable, Amount Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 |
Net Income | $55.90 | $70.40 | $81.50 | $171.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Net loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Parent | 57.4 | 70.5 | 167.6 | 171.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declared distribution | 24.8 | 135.6 | 49.6 | 263.8 | 24.3 | 117.3 | 48.7 | 227.9 | 6.9 | 13.7 | 0.5 | 11.4 | 0.9 | 22.2 | ' |
Assumed allocation of undistributed net income | 32.6 | -65.1 | 118 | -91.9 | 32 | -57.6 | 115.6 | -81.2 | -6.2 | -8.9 | 0.6 | -1.3 | 2.4 | -1.8 | ' |
Assumed allocation of net income attributable to limited partner unitholders and general partner | $57.40 | $70.50 | $167.60 | $171.90 | $56.30 | $59.70 | $164.30 | $146.70 | $0.70 | $4.80 | $1.10 | $10.10 | $3.30 | $20.40 | ' |
Weighted-average units outstanding (in units) | ' | ' | ' | ' | 243.3 | 212.3 | 243.3 | 210 | 22.9 | 22.9 | ' | ' | ' | ' | ' |
Net income per unit | ' | ' | ' | ' | $0.23 | $0.28 | $0.68 | $0.70 | $0.03 | $0.21 | ' | ' | ' | ' | ' |
Financing_Details
Financing (Details) (USD $) | 6 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | |||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jul. 31, 2014 |
Total Notes and Debentures | Total Notes and Debentures | Gulf South Notes Due 2015 | Texas Gas Notes Due 2015 | Total Revolving Credit Facility | Total Revolving Credit Facility | Term Loan Boardwalk Acquisition Company | Term Loan Boardwalk Acquisition Company | Subsequent Event | |
Subordinated Debt | |||||||||
Debt Instruments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | $3,000 | $3,000 | $275 | $250 | ' | ' | $225 | $225 | ' |
Debt, Weighted Average Interest Rate | 5.32% | 5.32% | ' | ' | 1.53% | 1.29% | 1.90% | 1.92% | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | 225 | ' | ' |
Debt Instrument, Maturity Date | ' | ' | 1-Feb-15 | 1-Jun-15 | ' | ' | 1-Oct-17 | ' | 31-Jul-24 |
Debt Instrument, Covenant Compliance | 'The Partnership and its subsidiaries were in compliance with their debt covenants. | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Description | ' | ' | ' | ' | ' | ' | 'The 2017 Term Loan bears interest at a rate that is based on the one-month London Interbank Offered Rate (LIBOR) plus an applicable margin. | ' | ' |
Line of Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | 100 | 175 | ' | ' | ' |
Covenant terms | ' | ' | ' | ' | 'a ratio of total consolidated debt to consolidated EBITDA (as defined in the Amended 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. | ' | ' | ' | ' |
Subordinated Loan Agreement Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | $300 |
Subordinated Borrowing Terms and Conditions | ' | ' | ' | ' | ' | ' | ' | ' | 'The Subordinated Loan bears interest at increasing rates, ranging 5.75% to 9.75%, payable semi-annually in June and December, commencing December 2014, and maturing in July 2024 |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | |||||||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Aug. 04, 2014 | Aug. 04, 2014 |
Retirement Plans [Member] | Retirement Plans [Member] | Retirement Plans [Member] | Retirement Plans [Member] | PBOP [Member] | PBOP [Member] | PBOP [Member] | PBOP [Member] | Subsequent Event | Scenario, Forecast | |||||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | ' | ' | ' | ' | $1 | $1.10 | $2 | $2.20 | $0.10 | $0.10 | $0.20 | $0.20 | ' | ' |
Interest cost | ' | ' | ' | ' | 1.4 | 1.2 | 2.8 | 2.4 | 0.6 | 0.4 | 1.1 | 0.9 | ' | ' |
Expected return on plan assets | ' | ' | ' | ' | -2.4 | -2.3 | -4.7 | -4.5 | -1 | -1.1 | -2.1 | -2.2 | ' | ' |
Amortization of prior service credit | ' | ' | ' | ' | 0 | 0 | 0 | 0 | -2 | -1.9 | -3.9 | -3.8 | ' | ' |
Amortization of unrecognized net loss | ' | ' | ' | ' | 0.3 | 0.6 | 0.6 | 1.2 | 0 | -0.1 | 0.1 | 0 | ' | ' |
Regulatory asset decrease | ' | ' | ' | ' | 0.5 | 0 | 0.9 | 0 | 0 | 0 | 0 | 0 | ' | ' |
Net periodic benefit cost | ' | ' | ' | ' | 0.8 | 0.6 | 1.6 | 1.3 | -2.3 | -2.6 | -4.6 | -4.9 | ' | ' |
Contribution to defined benefit pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Defined benefit plan, estimated future employer contributions in current fiscal year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 |
Defined Contribution Plan, Cost Recognized | $2.30 | $2.20 | $4.40 | $4.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | $2.20 | $2.10 | $4.40 | $4.20 | ' |
Percent of general partner interest owned by holding company | 2.00% | 2.00% | 2.00% | 2.00% | ' |
Cash dividends paid to parent company | 13 | 72.3 | 26 | 144.6 | ' |
Investment in unconsolidated affiliates | 0 | ' | 0 | ' | 78.6 |
Distribution from unconsolidated affiliates | ' | ' | 10.7 | 0 | ' |
Payments of Ordinary Dividends, Noncontrolling Interest | ' | ' | 7.1 | 0 | ' |
Boardwalk Bluegrass and Boardwalk Moss Lake | Boardwalk Pipeline Partners, LP | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates | 12.7 | ' | 12.7 | ' | 11.9 |
Boardwalk Bluegrass and Boardwalk Moss Lake | Boardwalk Pipelines Holding Company | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Investment in unconsolidated affiliates | 97.8 | ' | 97.8 | ' | 90 |
Boardwalk Moss Lake | Boardwalk Pipeline Partners, LP | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Distribution from unconsolidated affiliates | ' | ' | 1.9 | ' | ' |
Boardwalk Moss Lake | Boardwalk Pipelines Holding Company | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Payments of Ordinary Dividends, Noncontrolling Interest | ' | ' | $7.10 | ' | ' |
Supplemental_Disclosure_of_Cas2
Supplemental Disclosure of Cash Flow Information (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash paid during the period for: | ' | ' |
Interest (net of amount capitalized) | $76.10 | $71.70 |
Guarantee_of_Securities_of_Sub2
Guarantee of Securities of Subsidiaries Balance Sheets (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $43.30 | $28.50 | $9.90 | $3.90 |
Receivables | 99.9 | 119.2 | ' | ' |
Receivables - affiliate | 0 | 1.1 | ' | ' |
Gas and liquids stored underground | 3.5 | 0.7 | ' | ' |
Prepayments | 18.3 | 12.9 | ' | ' |
Advances to affiliates | 0 | 0 | ' | ' |
Other current assets | 10.6 | 14.7 | ' | ' |
Total current assets | 175.6 | 177.1 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Property, plant and equipment, gross | 8,881 | 8,723.30 | ' | ' |
Lessbaccumulated depreciation and amortization | 1,622.30 | 1,489.20 | ' | ' |
Property, plant and equipment, net | 7,258.70 | 7,234.10 | ' | ' |
Other noncurrent assets | 426.6 | 424.7 | ' | ' |
Advances to affiliates - noncurrent | 0 | 0 | ' | ' |
Investment in unconsolidated affiliates | 0 | 78.6 | ' | ' |
Total other assets | 426.6 | 503.3 | ' | ' |
Total Assets | 7,860.90 | 7,914.50 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Payables | 63.2 | 70.8 | ' | ' |
Payable to affiliates | 2.4 | 1.2 | ' | ' |
Advances from affiliates | 0 | 0 | ' | ' |
Other current liabilities | 155.6 | 164 | ' | ' |
Total current liabilities | 221.2 | 236 | ' | ' |
Total long-term debt and capital lease obligation | 3,350.20 | 3,424.40 | ' | ' |
Payable to affiliate - noncurrent | 16 | 16 | ' | ' |
Advances from affiliates - noncurrent | 0 | 0 | ' | ' |
Other noncurrent liabilities | 180.7 | 174.7 | ' | ' |
Total other liabilities and deferred credits | 196.7 | 190.7 | ' | ' |
Total partners' capital | 4,091.70 | 3,976.90 | ' | ' |
Noncontrolling interest | 1.1 | 86.5 | ' | ' |
Total Equity | 4,092.80 | 4,063.40 | 4,189.40 | 3,877.10 |
Total Liabilities and Equity | 7,860.90 | 7,914.50 | ' | ' |
Eliminations | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables | 0 | 0 | ' | ' |
Receivables - affiliate | -7 | -13.4 | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0 | 0 | ' | ' |
Advances to affiliates | -162.9 | -194.4 | ' | ' |
Other current assets | -1.6 | -9.1 | ' | ' |
Total current assets | -171.5 | -216.9 | ' | ' |
Investment in consolidated subsidiaries | -7,974.30 | -7,619.10 | ' | ' |
Property, plant and equipment, gross | 0 | 0 | ' | ' |
Lessbaccumulated depreciation and amortization | 0 | 0 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 0.4 | 0 | ' | ' |
Advances to affiliates - noncurrent | -3,527.10 | -3,413.90 | ' | ' |
Investment in unconsolidated affiliates | ' | 0 | ' | ' |
Total other assets | -3,526.70 | -3,413.90 | ' | ' |
Total Assets | -11,672.50 | -11,249.90 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Payables | 0 | 0 | ' | ' |
Payable to affiliates | -6.8 | -13.4 | ' | ' |
Advances from affiliates | -162.9 | -194.4 | ' | ' |
Other current liabilities | -1.3 | -9 | ' | ' |
Total current liabilities | -171 | -216.8 | ' | ' |
Total long-term debt and capital lease obligation | 0 | 0 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | -3,527.10 | -3,413.90 | ' | ' |
Other noncurrent liabilities | -0.1 | -0.1 | ' | ' |
Total other liabilities and deferred credits | -3,527.20 | -3,414 | ' | ' |
Total partners' capital | -7,974.30 | -7,619.10 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | -7,974.30 | -7,619.10 | ' | ' |
Total Liabilities and Equity | -11,672.50 | -11,249.90 | ' | ' |
Parent Guarantor | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0.2 | 0 | 0.1 |
Receivables | 0 | 0 | ' | ' |
Receivables - affiliate | 0 | 0.1 | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0.5 | 0.3 | ' | ' |
Advances to affiliates | 0 | 0 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 0.5 | 0.6 | ' | ' |
Investment in consolidated subsidiaries | 1,629.90 | 1,480.80 | ' | ' |
Property, plant and equipment, gross | 0.6 | 0.6 | ' | ' |
Lessbaccumulated depreciation and amortization | 0.6 | 0.6 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 0 | 0.3 | ' | ' |
Advances to affiliates - noncurrent | 2,478.40 | 2,512.10 | ' | ' |
Investment in unconsolidated affiliates | ' | 0 | ' | ' |
Total other assets | 2,478.40 | 2,512.40 | ' | ' |
Total Assets | 4,108.80 | 3,993.80 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Payables | 0.5 | 0.2 | ' | ' |
Payable to affiliates | 0.6 | 0.7 | ' | ' |
Advances from affiliates | 0 | 0 | ' | ' |
Other current liabilities | 0 | 0 | ' | ' |
Total current liabilities | 1.1 | 0.9 | ' | ' |
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 | ' | ' |
Total other liabilities and deferred credits | 16 | 16 | ' | ' |
Total partners' capital | 4,091.70 | 3,976.90 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | 4,091.70 | 3,976.90 | ' | ' |
Total Liabilities and Equity | 4,108.80 | 3,993.80 | ' | ' |
Subsidiary Issuer | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 1.9 | 9.2 | 1.2 | 1 |
Receivables | 0 | 0 | ' | ' |
Receivables - affiliate | 0 | 0.1 | ' | ' |
Gas and liquids stored underground | 0 | 0 | ' | ' |
Prepayments | 0.1 | 0 | ' | ' |
Advances to affiliates | 2.5 | 0 | ' | ' |
Other current assets | 0 | 0 | ' | ' |
Total current assets | 4.5 | 9.3 | ' | ' |
Investment in consolidated subsidiaries | 6,344.40 | 6,138.30 | ' | ' |
Property, plant and equipment, gross | 0 | 0 | ' | ' |
Lessbaccumulated depreciation and amortization | 0 | 0 | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' |
Other noncurrent assets | 3.2 | 3.7 | ' | ' |
Advances to affiliates - noncurrent | 182.8 | 168.7 | ' | ' |
Investment in unconsolidated affiliates | ' | 0 | ' | ' |
Total other assets | 186 | 172.4 | ' | ' |
Total Assets | 6,534.90 | 6,320 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Payables | 0.2 | 0 | ' | ' |
Payable to affiliates | 0 | 0 | ' | ' |
Advances from affiliates | 160.4 | 194.4 | ' | ' |
Other current liabilities | 19.8 | 19.7 | ' | ' |
Total current liabilities | 180.4 | 214.1 | ' | ' |
Total long-term debt and capital lease obligation | 1,380.30 | 1,379.90 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | 3,344.30 | 3,245.20 | ' | ' |
Other noncurrent liabilities | 0 | 0 | ' | ' |
Total other liabilities and deferred credits | 3,344.30 | 3,245.20 | ' | ' |
Total partners' capital | 1,629.90 | 1,480.80 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total Equity | 1,629.90 | 1,480.80 | ' | ' |
Total Liabilities and Equity | 6,534.90 | 6,320 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 41.4 | 19.1 | 8.7 | 2.8 |
Receivables | 99.9 | 119.2 | ' | ' |
Receivables - affiliate | 7 | 14.3 | ' | ' |
Gas and liquids stored underground | 3.5 | 0.7 | ' | ' |
Prepayments | 17.7 | 12.6 | ' | ' |
Advances to affiliates | 160.4 | 194.4 | ' | ' |
Other current assets | 12.2 | 23.8 | ' | ' |
Total current assets | 342.1 | 384.1 | ' | ' |
Investment in consolidated subsidiaries | 0 | 0 | ' | ' |
Property, plant and equipment, gross | 8,880.40 | 8,722.70 | ' | ' |
Lessbaccumulated depreciation and amortization | 1,621.70 | 1,488.60 | ' | ' |
Property, plant and equipment, net | 7,258.70 | 7,234.10 | ' | ' |
Other noncurrent assets | 423 | 420.7 | ' | ' |
Advances to affiliates - noncurrent | 865.9 | 733.1 | ' | ' |
Investment in unconsolidated affiliates | ' | 78.6 | ' | ' |
Total other assets | 1,288.90 | 1,232.40 | ' | ' |
Total Assets | 8,889.70 | 8,850.60 | ' | ' |
Liabilities and Equity | ' | ' | ' | ' |
Payables | 62.5 | 70.6 | ' | ' |
Payable to affiliates | 8.6 | 13.9 | ' | ' |
Advances from affiliates | 2.5 | 0 | ' | ' |
Other current liabilities | 137.1 | 153.3 | ' | ' |
Total current liabilities | 210.7 | 237.8 | ' | ' |
Total long-term debt and capital lease obligation | 1,969.90 | 2,044.50 | ' | ' |
Payable to affiliate - noncurrent | 0 | 0 | ' | ' |
Advances from affiliates - noncurrent | 182.8 | 168.7 | ' | ' |
Other noncurrent liabilities | 180.8 | 174.8 | ' | ' |
Total other liabilities and deferred credits | 363.6 | 343.5 | ' | ' |
Total partners' capital | 6,344.40 | 6,138.30 | ' | ' |
Noncontrolling interest | 1.1 | 86.5 | ' | ' |
Total Equity | 6,345.50 | 6,224.80 | ' | ' |
Total Liabilities and Equity | $8,889.70 | $8,850.60 | ' | ' |
Guarantee_of_Securities_of_Sub3
Guarantee of Securities of Subsidiaries Guarantee of Securities of Subsidiaries Statements of Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Revenues: | ' | ' | ' | ' |
Transportation | $245.70 | $242.30 | $550 | $526.40 |
Parking and lending | 9.2 | 7.1 | 18.4 | 15 |
Storage | 22.1 | 27.4 | 50.9 | 55.5 |
Other | 16.4 | 11.9 | 31 | 20.3 |
Total operating revenues | 293.4 | 288.7 | 650.3 | 617.2 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | 29.9 | 27.4 | 62.9 | 50.1 |
Operation and maintenance | 43.9 | 43.8 | 86.6 | 84 |
Administrative and general | 30.5 | 28.9 | 57.3 | 60.3 |
Other operating costs and expenses | 92.6 | 77.5 | 194.4 | 170 |
Total operating costs and expenses | 196.9 | 177.6 | 401.2 | 364.4 |
Operating (loss) income | 96.5 | 111.1 | 249.1 | 252.8 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 40.2 | 40.7 | 81.1 | 81.2 |
Interest (income) expense - affiliates | 0 | 0 | 0 | 0 |
Interest income | -0.2 | -0.1 | -0.3 | -0.3 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Equity losses in unconsolidated affiliates | 0.5 | 0 | 86.6 | 0 |
Miscellaneous other income, net | 0 | 0 | -0.1 | -0.2 |
Total other (income) deductions | 40.5 | 40.6 | 167.3 | 80.7 |
Income before income taxes | 56 | 70.5 | 81.8 | 172.1 |
Income taxes | 0.1 | 0.1 | 0.3 | 0.3 |
Net income (loss) | 55.9 | 70.4 | 81.5 | 171.8 |
Net loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Net income attributable to controlling interests | 57.4 | 70.5 | 167.6 | 171.9 |
Eliminations | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' |
Transportation | -22.8 | -22.3 | -45.6 | -44 |
Parking and lending | 0 | 0 | 0 | 0 |
Storage | -0.1 | 0 | -0.1 | -0.1 |
Other | 0 | 0 | 0 | 0 |
Total operating revenues | -22.9 | -22.3 | -45.7 | -44.1 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | -22.9 | -22.3 | -45.7 | -44.1 |
Operation and maintenance | 0 | 0 | 0 | 0 |
Administrative and general | 0 | 0 | 0 | 0 |
Other operating costs and expenses | 0 | 0 | 0 | 0 |
Total operating costs and expenses | -22.9 | -22.3 | -45.7 | -44.1 |
Operating (loss) income | 0 | 0 | 0 | 0 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Interest (income) expense - affiliates | 0 | 0 | 0 | 0 |
Interest income | 0 | 0 | 0 | 0 |
Equity in earnings of subsidiaries | 128.5 | 154.2 | 362.2 | 367.7 |
Equity losses in unconsolidated affiliates | 0 | ' | 0 | ' |
Miscellaneous other income, net | ' | ' | 0 | 0 |
Total other (income) deductions | 128.5 | 154.2 | 362.2 | 367.7 |
Income before income taxes | -128.5 | -154.2 | -362.2 | -367.7 |
Income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | -128.5 | -154.2 | -362.2 | -367.7 |
Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to controlling interests | -128.5 | -154.2 | -362.2 | -367.7 |
Parent Guarantor | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' |
Transportation | 0 | 0 | 0 | 0 |
Parking and lending | 0 | 0 | 0 | 0 |
Storage | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Total operating revenues | 0 | 0 | 0 | 0 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | 0 | 0 | 0 | 0 |
Operation and maintenance | 0 | 0 | 0 | 0 |
Administrative and general | 0 | 0 | -0.1 | 0 |
Other operating costs and expenses | 0 | 0.1 | 0.1 | 0.1 |
Total operating costs and expenses | 0 | 0.1 | 0 | 0.1 |
Operating (loss) income | 0 | -0.1 | 0 | -0.1 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Interest (income) expense - affiliates | -7.6 | -8.2 | -15.4 | -16.6 |
Interest income | 0 | 0 | 0 | 0 |
Equity in earnings of subsidiaries | -49.8 | -62.4 | -152.2 | -155.4 |
Equity losses in unconsolidated affiliates | 0 | ' | 0 | ' |
Miscellaneous other income, net | ' | ' | 0 | 0 |
Total other (income) deductions | -57.4 | -70.6 | -167.6 | -172 |
Income before income taxes | 57.4 | 70.5 | 167.6 | 171.9 |
Income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | 57.4 | 70.5 | 167.6 | 171.9 |
Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to controlling interests | 57.4 | 70.5 | 167.6 | 171.9 |
Subsidiary Issuer | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' |
Transportation | 0 | 0 | 0 | 0 |
Parking and lending | 0 | 0 | 0 | 0 |
Storage | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Total operating revenues | 0 | 0 | 0 | 0 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | 0 | 0 | 0 | 0 |
Operation and maintenance | 0 | 0.3 | 0 | 0.3 |
Administrative and general | 0 | 0.8 | 0 | 0.8 |
Other operating costs and expenses | 0 | 0.1 | 0 | 0.1 |
Total operating costs and expenses | 0 | 1.2 | 0 | 1.2 |
Operating (loss) income | 0 | -1.2 | 0 | -1.2 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 18.7 | 18 | 37.4 | 35.2 |
Interest (income) expense - affiliates | 10.2 | 10.2 | 20.4 | 20.5 |
Interest income | 0 | 0 | 0 | 0 |
Equity in earnings of subsidiaries | -78.7 | -91.8 | -210 | -212.3 |
Equity losses in unconsolidated affiliates | 0 | ' | 0 | ' |
Miscellaneous other income, net | ' | ' | 0 | 0 |
Total other (income) deductions | -49.8 | -63.6 | -152.2 | -156.6 |
Income before income taxes | 49.8 | 62.4 | 152.2 | 155.4 |
Income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | 49.8 | 62.4 | 152.2 | 155.4 |
Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to controlling interests | 49.8 | 62.4 | 152.2 | 155.4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Operating Revenues: | ' | ' | ' | ' |
Transportation | 268.5 | 264.6 | 595.6 | 570.4 |
Parking and lending | 9.2 | 7.1 | 18.4 | 15 |
Storage | 22.2 | 27.4 | 51 | 55.6 |
Other | 16.4 | 11.9 | 31 | 20.3 |
Total operating revenues | 316.3 | 311 | 696 | 661.3 |
Operating Costs and Expenses: | ' | ' | ' | ' |
Fuel and transportation | 52.8 | 49.7 | 108.6 | 94.2 |
Operation and maintenance | 43.9 | 43.5 | 86.6 | 83.7 |
Administrative and general | 30.5 | 28.1 | 57.4 | 59.5 |
Other operating costs and expenses | 92.6 | 77.3 | 194.3 | 169.8 |
Total operating costs and expenses | 219.8 | 198.6 | 446.9 | 407.2 |
Operating (loss) income | 96.5 | 112.4 | 249.1 | 254.1 |
Other Deductions (Income): | ' | ' | ' | ' |
Interest expense | 21.5 | 22.7 | 43.7 | 46 |
Interest (income) expense - affiliates | -2.6 | -2 | -5 | -3.9 |
Interest income | -0.2 | -0.1 | -0.3 | -0.3 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Equity losses in unconsolidated affiliates | 0.5 | ' | 86.6 | ' |
Miscellaneous other income, net | ' | ' | -0.1 | -0.2 |
Total other (income) deductions | 19.2 | 20.6 | 124.9 | 41.6 |
Income before income taxes | 77.3 | 91.8 | 124.2 | 212.5 |
Income taxes | 0.1 | 0.1 | 0.3 | 0.3 |
Net income (loss) | 77.2 | 91.7 | 123.9 | 212.2 |
Net loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Net income attributable to controlling interests | $78.70 | $91.80 | $210 | $212.30 |
Guarantee_of_Securities_of_Sub4
Guarantee of Securities of Subsidiaries Guarantee of Securities of Subsidiaries Statements of Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net Income | $55.90 | $70.40 | $81.50 | $171.80 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | 0 | 7 | -0.9 | 2.5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 0.7 | 1 | 1.6 | 1.1 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Total Comprehensive Income | 54.6 | 76.5 | 78.3 | 171.8 |
Comprehensive loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Comprehensive income attributable to controlling interests | 56.1 | 76.6 | 164.4 | 171.9 |
Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net Income | -128.5 | -154.2 | -362.2 | -367.7 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | -14 | 1.8 | -5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | -1 | -1 | -2.4 | -1.1 |
Pension and other postretirement benefit costs | 4 | 3.8 | 7.8 | 7.2 |
Total Comprehensive Income | -125.5 | -165.4 | -355 | -366.6 |
Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to controlling interests | -125.5 | -165.4 | -355 | -366.6 |
Parent Guarantor | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net Income | 57.4 | 70.5 | 167.6 | 171.9 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | 7 | -0.9 | 2.5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 0.7 | 1 | 1.6 | 1.1 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Total Comprehensive Income | 56.1 | 76.6 | 164.4 | 171.9 |
Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to controlling interests | 56.1 | 76.6 | 164.4 | 171.9 |
Subsidiary Issuer | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net Income | 49.8 | 62.4 | 152.2 | 155.4 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | 7 | -0.9 | 2.5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 0.7 | 0.4 | 1.6 | 0.9 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Total Comprehensive Income | 48.5 | 67.9 | 149 | 155.2 |
Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to controlling interests | 48.5 | 67.9 | 149 | 155.2 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net Income | 77.2 | 91.7 | 123.9 | 212.2 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Gain (loss) on cash flow hedges | ' | 7 | -0.9 | 2.5 |
Reclassification adjustment transferred to Net Income from cash flow hedges | 0.3 | 0.6 | 0.8 | 0.2 |
Pension and other postretirement benefit costs | -2 | -1.9 | -3.9 | -3.6 |
Total Comprehensive Income | 75.5 | 97.4 | 119.9 | 211.3 |
Comprehensive loss attributable to noncontrolling interests | -1.5 | -0.1 | -86.1 | -0.1 |
Comprehensive income attributable to controlling interests | $77 | $97.50 | $206 | $211.40 |
Guarantee_of_Securities_of_Sub5
Guarantee of Securities of Subsidiaries Guarantee of Securities of Subsidiaries Statements of Cash Flows (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Statement of Cash Flows | ' | ' |
Net cash provided by (used in) operating activities | $308.10 | $285.20 |
Investing Activities: | ' | ' |
Capital expenditures | -162.7 | -132.2 |
Proceeds from sale of operating assets | 2.9 | 21.2 |
Proceeds from insurance and other recoveries | 0 | 1.4 |
Advances to affiliates | 0.1 | 0 |
Investment in consolidated subsidiary | ' | 0 |
Investment in unconsolidated affiliates | -20.3 | -21.4 |
Distribution from unconsolidated affiliates | 10.7 | 0 |
Net cash used in investing activities | -169.3 | -131 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 220 | 458 |
Repayment of borrowings on revolving credit agreement | -295 | -740 |
Contribution from parent | ' | 0 |
Principal payment of capital lease obligation | -0.2 | 0 |
Advances from affiliates | 0.1 | -2.4 |
Distributions paid | -49.6 | -256.4 |
Capital contributions from noncontrolling interests | 7.8 | 16.1 |
Proceeds from sale of common units | 0 | 368.7 |
Capital contributions from general partner | 0 | 7.8 |
Distributions paid to noncontrolling interests | -7.1 | 0 |
Net cash used in financing activities | -124 | -148.2 |
Increase (decrease) in cash and cash equivalents | 14.8 | 6 |
Cash and cash equivalents at beginning of period | 28.5 | 3.9 |
Cash and cash equivalents at end of period | 43.3 | 9.9 |
Eliminations | ' | ' |
Statement of Cash Flows | ' | ' |
Net cash provided by (used in) operating activities | 0 | 0 |
Investing Activities: | ' | ' |
Capital expenditures | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 |
Proceeds from insurance and other recoveries | ' | 0 |
Advances to affiliates | 81.7 | 180.8 |
Investment in consolidated subsidiary | ' | 15.1 |
Investment in unconsolidated affiliates | 0 | 0 |
Distribution from unconsolidated affiliates | 0 | ' |
Net cash used in investing activities | 81.7 | 195.9 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 0 | 0 |
Repayment of borrowings on revolving credit agreement | 0 | 0 |
Contribution from parent | ' | -15.1 |
Principal payment of capital lease obligation | 0 | ' |
Advances from affiliates | -81.7 | -180.8 |
Distributions paid | 0 | 0 |
Capital contributions from noncontrolling interests | 0 | 0 |
Proceeds from sale of common units | ' | 0 |
Capital contributions from general partner | ' | 0 |
Distributions paid to noncontrolling interests | 0 | ' |
Net cash used in financing activities | -81.7 | -195.9 |
Increase (decrease) in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 0 | 0 |
Cash and cash equivalents at end of period | 0 | 0 |
Parent Guarantor | ' | ' |
Statement of Cash Flows | ' | ' |
Net cash provided by (used in) operating activities | 15.5 | 17.6 |
Investing Activities: | ' | ' |
Capital expenditures | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 |
Proceeds from insurance and other recoveries | ' | 0 |
Advances to affiliates | 33.8 | -135.4 |
Investment in consolidated subsidiary | ' | 0 |
Investment in unconsolidated affiliates | 0 | 0 |
Distribution from unconsolidated affiliates | 0 | ' |
Net cash used in investing activities | 33.8 | -135.4 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 0 | 0 |
Repayment of borrowings on revolving credit agreement | 0 | 0 |
Contribution from parent | ' | 0 |
Principal payment of capital lease obligation | 0 | ' |
Advances from affiliates | 0.1 | -2.4 |
Distributions paid | -49.6 | -256.4 |
Capital contributions from noncontrolling interests | 0 | 0 |
Proceeds from sale of common units | ' | 368.7 |
Capital contributions from general partner | ' | 7.8 |
Distributions paid to noncontrolling interests | 0 | ' |
Net cash used in financing activities | -49.5 | 117.7 |
Increase (decrease) in cash and cash equivalents | -0.2 | -0.1 |
Cash and cash equivalents at beginning of period | 0.2 | 0.1 |
Cash and cash equivalents at end of period | 0 | 0 |
Subsidiary Issuer | ' | ' |
Statement of Cash Flows | ' | ' |
Net cash provided by (used in) operating activities | -55.8 | -52.5 |
Investing Activities: | ' | ' |
Capital expenditures | 0 | 0 |
Proceeds from sale of operating assets | 0 | 0 |
Proceeds from insurance and other recoveries | ' | 0 |
Advances to affiliates | -16.6 | -56.5 |
Investment in consolidated subsidiary | ' | -15.1 |
Investment in unconsolidated affiliates | 0 | 0 |
Distribution from unconsolidated affiliates | 0 | ' |
Net cash used in investing activities | -16.6 | -71.6 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 0 | 0 |
Repayment of borrowings on revolving credit agreement | 0 | 0 |
Contribution from parent | ' | 0 |
Principal payment of capital lease obligation | 0 | ' |
Advances from affiliates | 65.1 | 124.3 |
Distributions paid | 0 | 0 |
Capital contributions from noncontrolling interests | 0 | 0 |
Proceeds from sale of common units | ' | 0 |
Capital contributions from general partner | ' | 0 |
Distributions paid to noncontrolling interests | 0 | ' |
Net cash used in financing activities | 65.1 | 124.3 |
Increase (decrease) in cash and cash equivalents | -7.3 | 0.2 |
Cash and cash equivalents at beginning of period | 9.2 | 1 |
Cash and cash equivalents at end of period | 1.9 | 1.2 |
Non-Guarantor Subsidiaries | ' | ' |
Statement of Cash Flows | ' | ' |
Net cash provided by (used in) operating activities | 348.4 | 320.1 |
Investing Activities: | ' | ' |
Capital expenditures | -162.7 | -132.2 |
Proceeds from sale of operating assets | 2.9 | 21.2 |
Proceeds from insurance and other recoveries | ' | 1.4 |
Advances to affiliates | -98.8 | 11.1 |
Investment in consolidated subsidiary | ' | 0 |
Investment in unconsolidated affiliates | -20.3 | -21.4 |
Distribution from unconsolidated affiliates | 10.7 | ' |
Net cash used in investing activities | -268.2 | -119.9 |
Financing Activities: | ' | ' |
Proceeds from borrowings on revolving credit agreement | 220 | 458 |
Repayment of borrowings on revolving credit agreement | -295 | -740 |
Contribution from parent | ' | 15.1 |
Principal payment of capital lease obligation | -0.2 | ' |
Advances from affiliates | 16.6 | 56.5 |
Distributions paid | 0 | 0 |
Capital contributions from noncontrolling interests | 7.8 | 16.1 |
Proceeds from sale of common units | ' | 0 |
Capital contributions from general partner | ' | 0 |
Distributions paid to noncontrolling interests | -7.1 | ' |
Net cash used in financing activities | -57.9 | -194.3 |
Increase (decrease) in cash and cash equivalents | 22.3 | 5.9 |
Cash and cash equivalents at beginning of period | 19.1 | 2.8 |
Cash and cash equivalents at end of period | $41.40 | $8.70 |