Buckeye Partners (BPL) 10-Q 2 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 26, 2018
Entity Information [Line Items]
Entity Registrant Name	BUCKEYE PARTNERS, L.P.
Entity Central Index Key	805,022
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Class C Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,714,963
Limited Partner Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		146,949,101

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Total revenue from contracts with customers	$ 768,823	$ 707,817	$ 2,532,281	$ 2,172,793
Total revenue	909,548	922,619	3,033,492	2,702,093
Costs and expenses:
Cost of product sales	514,811	506,780	1,852,537	1,447,408
Operating expenses	159,562	157,444	470,935	480,973
Depreciation and amortization	68,464	65,661	199,171	195,987
General and administrative	21,578	23,904	66,659	69,987
Goodwill impairment (Note 8)	536,964	0	536,964	0
Other, net	0	501	(16,153)	(3,921)
Total costs and expenses	1,301,379	754,290	3,110,113	2,190,434
Operating (loss) income	(391,831)	168,329	(76,621)	511,659
Other income (expense):
(Loss) earnings from equity investments (Note 7)	(292,387)	9,232	(276,633)	22,710
Interest and debt expense	(60,332)	(56,561)	(179,003)	(168,870)
Other expense	(152)	(328)	(764)	(878)
Total other expense, net	(352,871)	(47,657)	(456,400)	(147,038)
(Loss) income before taxes	(744,702)	120,672	(533,021)	364,621
Income tax expense	(634)	(448)	(1,906)	(1,709)
Net (loss) income	(745,336)	120,224	(534,927)	362,912
Less: Net income attributable to noncontrolling interests	(499)	(4,037)	(6,631)	(10,427)
Net (loss) income attributable to Buckeye Partners, L.P.	$ (745,835)	$ 116,187	$ (541,558)	$ 352,485
Earnings (loss) per unit attributable to Buckeye Partners, L.P.:
Basic (in dollars per share)	$ (4.86)	$ 0.82	$ (3.57)	$ 2.50
Diluted (in dollars per share)	$ (4.86)	$ 0.81	$ (3.57)	$ 2.49
Weighted average units outstanding:
Basic (in shares)	153,512	142,088	151,908	141,104
Diluted (in shares)	153,512	142,818	151,908	141,781
Product sales
Revenue:
Total revenue from contracts with customers	$ 525,426	$ 517,461	$ 1,874,463	$ 1,482,686
Transportation, storage and other services
Revenue:
Total revenue from contracts with customers	$ 384,122	$ 405,158	$ 1,159,029	$ 1,219,407

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (745,336)	$ 120,224	$ (534,927)	$ 362,912
Other comprehensive income:
Unrealized gains (losses) on derivative instruments, net	7,129	(5,764)	30,203	(11,995)
Reclassification of derivative losses to net income, net	2,296	3,038	6,928	9,113
Changes in benefit plan assets and benefit obligations	0	50	0	66
Other comprehensive (loss) income from equity method investments	(2,325)	11,933	(10,082)	39,679
Total other comprehensive income	7,100	9,257	27,049	36,863
Comprehensive (loss) income	(738,236)	129,481	(507,878)	399,775
Less: Comprehensive income attributable to noncontrolling interests	(499)	(4,037)	(6,631)	(10,427)
Comprehensive (loss) income attributable to Buckeye Partners, L.P.	$ (738,735)	$ 125,444	$ (514,509)	$ 389,348

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 661	$ 2,180
Accounts Receivable, net	239,838	270,648
Construction and pipeline relocation receivables	14,681	11,047
Inventories	197,516	301,425
Derivative assets	60,306	34,959
Prepaid and other current assets	65,229	36,339
Total current assets	578,231	656,598
Property, plant and equipment	8,312,885	7,928,240
Less: Accumulated depreciation	(1,339,481)	(1,192,448)
Property, plant and equipment, net	6,973,404	6,735,792
Equity investments	1,166,245	1,494,412
Goodwill	470,393	1,007,313
Intangible assets	615,086	615,086
Less: Accumulated amortization	(305,202)	(256,025)
Intangible assets, net	309,884	359,061
Other non-current assets	37,713	51,483
Total assets	9,535,870	10,304,659
Current liabilities:
Line of credit	178,201	252,204
Accounts payable	145,025	160,777
Derivative liabilities	5,757	7,172
Accrued and other current liabilities	273,379	265,207
Total current liabilities	602,362	685,360
Long-term debt	4,985,200	4,658,321
Other non-current liabilities	88,249	92,656
Total liabilities	5,675,811	5,436,337
Commitments and contingent liabilities (Note 4)	0	0
Buckeye Partners, L.P. capital:
Accumulated other comprehensive income	55,680	28,631
Total Buckeye Partners, L.P. capital	3,848,893	4,590,937
Noncontrolling interests	11,166	277,385
Total partners’ capital	3,860,059	4,868,322
Total liabilities and partners’ capital	9,535,870	10,304,659
Limited Partner Units
Buckeye Partners, L.P. capital:
Units outstanding	3,536,920	4,562,306
Class C Units
Buckeye Partners, L.P. capital:
Units outstanding	$ 256,293	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 30, 2018	Dec. 31, 2017
Limited Partner Units
Limited Partners, units outstanding	146,949,101	146,677,459
Class C Units
Limited Partners, units outstanding	6,714,963	0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net (loss) income	$ (534,927)	$ 362,912
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	199,171	195,987
Amortization of debt issuance costs, discounts and terminated interest rate swaps	11,755	13,053
Non-cash unit-based compensation expense	21,710	25,935
Gain on asset impairments, disposals and recoveries, net	(15,655)	(4,621)
Changes in fair value of derivatives, net	3,450	(25,421)
Loss (earnings) from equity investments	276,633	(22,710)
Distributions of earnings from equity investments	19,988	25,902
Goodwill impairment	536,964	0
Other non-cash items	1,869	1,024
Change in assets and liabilities, net of amounts related to acquisitions:
Accounts receivable, net	28,433	25,548
Construction and pipeline relocation receivables	(3,634)	2,109
Inventories	103,923	123,390
Prepaid and other current assets	(28,900)	18,956
Accounts payable	(32,126)	(30,850)
Accrued and other current liabilities	(7,563)	(17,045)
Other non-current assets and liabilities	15,099	(6,859)
Net cash provided by operating activities	596,190	687,310
Cash flows from investing activities:
Capital expenditures	(356,987)	(303,689)
Acquisition of and contribution to equity investments	(31,061)	(1,387,844)
Distributions from equity investments in excess of earnings	52,303	16,951
Acquisition working capital settlement	895	0
Proceeds from property disposals and recoveries	9,388	5,050
Net cash used in investing activities	(325,462)	(1,669,532)
Cash flows from financing activities:
Net proceeds from issuance of Units and exercise of Unit options	261,958	346,436
Payment of tax withholding on vesting of LTIP awards	(6,782)	(8,487)
Proceeds from issuance of long-term debt, net of issuance costs	394,937	(29)
Repayment of long-term debt	(300,000)	(125,000)
Borrowings under the BPL Credit Facility	1,656,600	1,544,972
Repayments under the BPL Credit Facility	(1,428,880)	(1,047,372)
Net (repayments) borrowings under the BMSC Credit Facility	(74,003)	185,410
Acquisition of noncontrolling interest	(210,000)	0
Contributions from noncontrolling interests	7,400	7,700
Distributions to noncontrolling interests	(15,342)	(24,657)
Distributions to LP unitholders	(558,135)	(529,169)
Net cash (used in) provided by financing activities	(272,247)	349,804
Net decrease in cash and cash equivalents	(1,519)	(632,418)
Cash and cash equivalents — Beginning of period	2,180	640,340
Cash and cash equivalents — End of period	$ 661	$ 7,922

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL - USD ($) $ in Thousands	Total	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Limited Partners	Class C UnitsLimited Partners
Beginning balance at Dec. 31, 2016	$ 4,698,423	$ (25,593)	$ 286,700	$ 4,437,316	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	362,912		10,427	352,485
Distributions paid to unitholders	(529,169)		2,182	(531,351)
Net proceeds from issuance of units	345,955			345,955
Amortization of unit-based compensation awards	25,935			25,935
Payment of tax withholding on vesting of LTIP awards	(8,487)			(8,487)
Net proceeds from exercise of Unit options	481			481
Distributions paid to noncontrolling interests	(24,657)		(24,657)
Contributions from noncontrolling interests	7,700		7,700
Other comprehensive income	36,863	36,863
Accrual of distribution equivalent rights	(2,931)			(2,931)
Other			141	(141)
Ending balance at Sep. 30, 2017	4,913,025	11,270	282,493	4,619,262	0
Beginning balance at Dec. 31, 2017	4,868,322	28,631	277,385	4,562,306
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(534,927)		6,631	(515,016)	(26,542)
Acquisition of noncontrolling interest	(210,000)		(266,928)	54,585	2,343
Distributions paid to unitholders	(558,135)		2,020	(560,155)
In-kind distribution to unitholders				(18,490)	18,490
Net proceeds from issuance of units	262,002				262,002
Amortization of unit-based compensation awards	21,710			21,710
Payment of tax withholding on vesting of LTIP awards	(6,782)			(6,782)
Distributions paid to noncontrolling interests	(15,342)		(15,342)
Contributions from noncontrolling interests	7,400		7,400
Other comprehensive income	27,049	27,049
Accrual of distribution equivalent rights	(1,194)			(1,194)
Other	(44)			(44)
Ending balance at Sep. 30, 2018	$ 3,860,059	$ 55,680	$ 11,166	$ 3,536,920	$ 256,293

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	1. ORGANIZATION AND BASIS OF PRESENTATION Organization Buckeye Partners, L.P. is a publicly traded Delaware master limited partnership (“MLP”), and its limited partner units representing limited partnership interests (“LP Units”) are listed on the New York Stock Exchange under the ticker symbol “BPL.” Buckeye GP LLC (“Buckeye GP”) is our general partner. As used in these Notes to Unaudited Condensed Consolidated Financial Statements, “ we ,” “ us ,” “ our, ” the “ Partnership ” and “ Buckeye ” mean Buckeye Partners, L.P. and, where the context requires, include our subsidiaries. We own and operate, or own a significant interest in, a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. We are one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. We also use our service expertise to operate and/or maintain third-party pipelines and perform certain engineering and construction services for our customers. Our global terminal network, including through our interest in VTTI B.V. (“VTTI”), comprises more than 135 liquid petroleum products terminals with aggregate tank capacity of over 178 million barrels across our portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States as well as in the Caribbean, Northwest Europe, the Middle East and Southeast Asia. Our global network of marine terminals enables us to facilitate global flows of crude oil and refined petroleum products, offering our customers connectivity between supply areas and market centers through some of the world’s most important bulk liquid storage and blending hubs. Our flagship marine terminal in The Bahamas, Buckeye Bahamas Hub Limited (“BBH”), is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Our Gulf Coast regional hub, Buckeye Texas Partners LLC (“Buckeye Texas”), offers world-class marine terminalling, storage and processing capabilities. Through our 50% equity interest in VTTI, our global terminal network offers premier storage and marine terminalling services for petroleum product logistics in key international energy hubs. We are also a wholesale distributor of refined petroleum products in certain areas served by our pipelines and terminals. As further discussed in the Strategic Review section below, we expect to divest our equity interest in VTTI during the fourth quarter of 2018, subject to normal regulatory approvals. Strategic Review Management has completed a comprehensive review of the Partnership’s near and long-term strategy (the “Strategic Review”), with oversight from the Board of Directors of Buckeye GP (the “Board”). The Strategic Review included an evaluation of various alternatives designed to maximize long-term value for our unitholders by: • Maintaining Buckeye’s investment grade credit rating by reducing leverage; • Providing increased financial flexibility, eliminating the need for Buckeye to access the public equity markets to fund annual growth capital; and • Reallocating capital to the higher return growth opportunities across our remaining assets. As a result, management has taken the following actions to accomplish these objectives: (i) On November 1, 2018, we executed a definitive agreement to sell a package of non-integrated domestic pipeline and terminal assets. These assets include: (i) our jet fuel pipeline from Port Everglades, Florida to Ft. Lauderdale-Hollywood International Airport and Miami International Airport; (ii) our pipelines and terminal facilities serving Reno-Tahoe International Airport, San Diego International Airport, and the Federal Express Corporation terminal at the Memphis International Airport; and (iii) our refined petroleum product terminals in Sacramento, California and Stockton, California. Upon the closing of this transaction, we expect to generate proceeds of approximately $450.0 million , which would result in an expected gain on the sale of approximately $350.0 million , to be recorded upon closing. These assets did not meet the criteria to be presented as held for sale in our condensed consolidated balance sheet as of September 30, 2018, because as of that date it was determined that such sale was not probable. We expect this transaction to close during the fourth quarter of 2018, subject to normal regulatory approvals. (ii) On November 1, 2018, we executed a definitive agreement to sell our 50% equity interest in VTTI. As of September 30, 2018, we have recorded our equity investment in VTTI at its estimated fair value, as determined based upon the expected proceeds of $975.0 million plus a final earnings distribution, resulting in a non-cash loss of $300.3 million , which is reported in (loss) earnings from equity investments, for the three months ended September 30, 2018 . We expect this transaction to close during the fourth quarter of 2018, subject to normal regulatory approvals. (iii) On November 2, 2018, we announced a quarterly cash distribution of $0.75 per LP Unit, to be paid on November 20, 2018 to unitholders of record on November 13, 2018, which is a reduction from the cash distribution of $1.2625 per LP Unit paid with respect to the prior quarter. Because our declared quarterly cash distribution amount represents a reduction from the prior quarter, all 6,714,963 Class C Units outstanding as of September 30, 2018, will convert into LP Units on a one-for-one basis on November 5, 2018. Accordingly, the holders of these newly converted LP Units will receive the quarterly cash distribution of $0.75 per LP Unit, instead of an in-kind distribution of additional Class C Units. Based upon outstanding LP Units (including the newly converted LP Units resulting from the Class C Units conversion) and distribution equivalent rights (“DERs”) with respect to certain unit-based compensation awards, the aggregate cash amount to be distributed on November 20, 2018, is estimated to be approximately $116.0 million . Given the indicators of changes in fair value for certain assets, identified in our Strategic Review, including our investment in VTTI, the Partnership performed a goodwill recoverability assessment as of September 30, 2018. As a result of this assessment and as further discussed in Note 8, we concluded that the goodwill attributable to one of the two reporting units comprising our Global Marine Terminals segment, which includes operations in the Caribbean and New York Harbor (“NYH”) and our equity investment in VTTI, has been impaired. Accordingly, we recorded a non-cash goodwill impairment charge of approximately $537.0 million , excluding the non-cash loss of $300.3 million related to the anticipated sale of our equity method investment in VTTI, for the three months ended September 30, 2018 included in (loss) earnings from equity investments. Basis of Presentation and Principles of Consolidation The unaudited condensed consolidated financial statements and the accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, our financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of our results of operations for the interim periods. The unaudited condensed consolidated financial statements include the accounts of our subsidiaries controlled by us and variable interest entities of which we are the primary beneficiary. Intercompany transactions are eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates and assumptions about future events and their effects cannot be made with certainty. Estimates may change as new events occur, when additional information becomes available and if our operating environment changes. Actual results could differ from our estimates. We believe that the disclosures in these unaudited condensed consolidated financial statements are adequate to make the information presented not misleading. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2017 . Recently Adopted Accounting Guidance Goodwill Impairment. Effective July 1, 2018, we adopted Accounting Standards Update (“ASU”) ASU 2017-04, which simplifies the accounting for goodwill. The guidance eliminates Step 2 from the goodwill impairment test, which required entities to calculate the implied fair value of a reporting unit’s goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. An impairment charge is now determined by the amount by which the carrying amount of a reporting unit exceeds its fair value up to the amount of goodwill. The guidance is applied using a prospective approach. We applied this standard to the calculation of the goodwill impairment charge referenced above. See Note 8 for further discussion. Revenue from Contracts with Customers. Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), using the modified retrospective transition method, which required us to apply the new standard to (i) all new revenue contracts entered into after January 1, 2018, and (ii) revenue contracts which were not completed as of January 1, 2018. ASC 606 replaces existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which we expect to be entitled in exchange for transferring goods or services to a customer. ASC 606 also requires certain disclosures regarding qualitative and quantitative information with respect to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in a transition adjustment nor did it have a material impact on the timing or amount of our revenue recognition. Please see Note 2 for additional information. Recognition and Measurement of Financial Assets and Liabilities . Effective January 1, 2018, we adopted ASU 2016-01, and it will be applied prospectively. This ASU issued a new standard related to certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most prominent among the changes in this standard is the requirement for changes in the fair value of marketable equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income (“OCI”). Under the standard, marketable equity investments that do not have a readily determinable fair value are eligible for the measurement alternative. Using the measurement alternative, investments without readily determinable fair values will be valued at cost, with adjustments to fair value for changes in price or impairments reflected through net income. The adoption of this guidance did not have an impact on our unaudited condensed consolidated financial statements. Classification of Certain Cash Receipts and Cash Payments . Effective January 1, 2018, we adopted ASU 2016-15, applying the retrospective transition method. This ASU requires changes in the presentation of certain items, including but not limited to debt prepayment or debt extinguishment costs; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies and distributions received from equity method investees. The adoption of this guidance did not have a material impact on our unaudited condensed consolidated financial statements. Business Combinations . Effective January 1, 2018, we adopted ASU 2017-01, and it will be applied prospectively to future business combinations. This ASU clarifies the definition of a business in order to assist entities with evaluating whether transactions should be accounted for as acquisitions/disposals of assets or businesses. The guidance provides a screen to help entities determine when an integrated set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. If the threshold of the screen is not met, the guidance further clarifies that the set of assets is not a business unless it includes an input and a substantive process that together significantly contribute to the ability to create output. Retirement Benefits . Effective January 1, 2018, we adopted ASU 2017-07, which improves the presentation of net periodic pension and postretirement benefit costs. The interest cost, expected return on plan assets, actuarial loss due to settlements, and the amortization of unrecognized loss have been reclassified from operating expenses to other expense, applying the retrospective transition method. We elected to apply the practical expedient which allows us to reclassify amounts disclosed previously in the retirement benefits note as the basis for applying retrospective presentation for comparative periods as it is impracticable to determine the disaggregation of the cost components for amounts capitalized and amortized in those periods. On a prospective basis, the components of net periodic benefit costs discussed above will not be included in amounts capitalized in property, plant, and equipment. The adoption of this guidance did not have a material impact on our unaudited condensed consolidated financial statements. In connection with the adoption of ASU 2017-07, using the retrospective transition method, we reclassified $0.3 million and $1.0 million of expenses related to our Retirement Income Guarantee Plan and unfunded post-retirement medical benefit plan, originally included in operating expenses for the three and nine months ended September 30, 2017 , respectively, to other expense. Such reclassifications had no impact on net income. Modifications to Share-Based Payment Awards . Effective January 1, 2018, we adopted ASU 2017-09, and it will be applied prospectively to future modifications of our unit-based awards, if any. This guidance clarifies when changes in the terms or conditions of share-based payment awards must be accounted for as modifications under existing guidance. The guidance requires that entities apply modification accounting unless the award’s fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. Tax Cuts and Jobs Act . In December 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was passed into law. The Tax Act makes changes to the U.S. tax code including, but not limited to (i) reducing the U.S. federal corporate income tax rate from a top rate of 35% to 21% effective January 1, 2018, (ii) requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that may electively be paid over eight years, and (iii) accelerated first-year expensing of certain capital expenditures. Shortly after the Tax Act was enacted, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, which in no case may extend beyond one year from the Tax Act enactment date, during which an entity acting in good faith may complete the accounting for the impacts of the Tax Act under ASC Topic 740. In accordance with SAB 118, the entity must reflect the income tax effects of the Tax Act in the reporting period in which the accounting under ASC Topic 740 is complete. With the exception of federal and state income taxes from Buckeye Development & Logistics I LLC (“BDL”), the Partnership’s federal and certain state income taxes are the responsibility of the partners and are not reflected in these consolidated financial statements. Accordingly, the Tax Act did not have a material impact on our unaudited condensed consolidated financial statements or on our disclosures. We continue to evaluate certain aspects of the Tax Act and have recorded certain adjustments to our deferred taxes. Recent Accounting Guidance Not Yet Adopted Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-15, which aligns a customer’s accounting for capitalizing implementation costs in a cloud computing service arrangement that is hosted by the vendor with the requirements for capitalizing implementation costs incurred to develop or obtain an internal-use software license. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The guidance can be applied prospectively or retrospectively. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures. Changes to the Disclosure Requirements for Defined Benefit Plans. In August 2018, the FASB issued ASU 2018-14, which amends existing guidance on disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The new guidance is effective for fiscal years ending after December 15, 2020, with early adoption permitted. The new guidance requires retrospective application. We expect to adopt this standard effective January 1, 2021 and are currently evaluating the impact that it will have on our disclosures. Changes to the Disclosure Requirements for Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13, which amends existing guidance on disclosure requirements for fair value measurements. The new guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The new guidance requires prospective application on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty. The effects of other amendments must be applied retrospectively to all periods presented. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our disclosures. Improvements to Nonemployee Share-Based Payment Accounting. In May 2018, the FASB issued ASU 2018-07, which conformed the current nonemployee share-based accounting with employee share-based accounting. The new standard is effective as of January 1, 2019 with early adoption permitted. We expect to adopt this standard effective January 1, 2019 and do not believe that our adoption of this guidance will have a material impact on our consolidated financial statements and disclosures. Derivatives and Hedging . In August 2017, the FASB issued ASU 2017-12, which amends and simplifies existing guidance in order to improve the financial reporting of hedging relationships to better align risk management activities in financial statements and make targeted improvements to simplify the application of current guidance related to the assessment of hedge effectiveness. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early application permitted. The new guidance requires prospective application, with a cumulative effect adjustment to the beginning balance of partners’ capital for existing hedging relationships. We will adopt this standard effective January 1, 2019 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued ASU 2016-13, which replaces the current incurred loss impairment method with a method that reflects expected credit losses on financial instruments. The new standard is effective as of January 1, 2020, and early adoption is permitted as of January 1, 2019. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that the adoption of this standard will have on our consolidated financial statements and disclosures. Leases . In February 2016, the FASB issued ASU 2016-02, as amended by subsequent accounting standard updates (collectively, “Topic 842”), requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for leases with lease terms greater than twelve months, in addition to enhanced disclosure requirements. Topic 842, through an alternative transition method, permits an entity to adopt the provisions of ASU 2016-02 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjustment to the financial statements for periods prior to adoption. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with the previous lease guidance in ASC Topic 840 “ Leases. ” ASU 2018-11 also allows a practical expedient that permits lessors to not separate non-lease components from the associated lease component if certain conditions are present. In January 2018, the FASB issued ASU 2018-01, permitting an entity to elect a transition practical expedient to not apply the provisions of ASU 2016-02 to land easements that existed or expired before the effective date of ASU 2016-02 and that were not previously accounted for as leases under the previous lease guidance in ASC Topic 840 “ Leases. ” In July 2018, the FASB issued update ASU 2018-10 that provides narrow-scope improvements to the new standard including clarification on reassessment, change in reference index or rate, and periods included in the lease term. ASU 2016-02 also provides an election for a package of practical expedients which permits an entity to not reassess whether any expired or existing contracts contain leases, the classification of the lease, and any initial direct costs. We expect to apply these practical expedients as part of our adoption. Our project team continues to (i) evaluate the provisions of the standard; (ii) assess and implement changes to business processes and controls; and (iii) evaluate the impact the adoption of this guidance will have on our consolidated financial statements, including disclosures. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. We will adopt this guidance effective January 1, 2019, and expect the most significant impact of the new standard will be the recognition of right-of-use assets and lease liabilities as part of our consolidated balance sheet upon adoption.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	2. REVENUE FROM CONTRACTS WITH CUSTOMERS The majority of our service-based revenue is derived from fee-based transportation, terminalling, and storage services that we provide to our customers. We also generate revenue from the marketing and sale of petroleum products. We recognize revenues from customer fees for services rendered or by selling petroleum products. Under ASC 606, we recognize revenue over time or at a point in time, depending on the nature of the performance obligations contained in the respective contract with our customer. A performance obligation is a promise in a contract to transfer goods or services to the customer. The contract transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. In certain situations, we recognize revenue pursuant to guidance in the Accounting Standards Codification other than ASC 606. These situations primarily relate to leases and derivatives. The adoption of ASC 606 did not have a material impact on the timing or amount of our revenue recognition. The following is an overview of our significant revenue streams, including a description of the respective performance obligations and related methods of revenue recognition. Pipeline Transportation Revenue from pipeline operations is comprised of tariffs and fees associated with the transportation of liquid petroleum products, generally at published tariffs, and in certain instances, revenue from committed capacity contracts at negotiated rates. Tariff revenue is recognized either at the point of delivery or at the point of receipt, pursuant to specifications outlined in the respective tariffs. Revenue associated with capacity reservation is recognized ratably over the respective term, regardless of whether the capacity is actually utilized. Our tariffs generally include product loss allowance factors intended to, among other things, compensate for losses due to evaporation, measurement tolerances, and other product losses in transit. We value the difference of allowance volumes to actual losses at the estimated net realizable value in the period the variance occurred, and the result is recorded as an adjustment to pipeline transportation revenue. The majority of our contracts have a single performance obligation to provide pipeline transportation service, and the performance obligation is primarily satisfied over time as transportation services are provided, whereby progress is generally measured based on the volume of product transported. Our services are typically billed on a weekly basis, and we generally do not offer extended payment terms. In addition, we have certain agreements that require counterparties to throughput a minimum volume over an agreed-upon period. Revenue pursuant to such agreements is recognized at the earlier of when the volume is throughput or proportionally if we determine that the customer is not expected to meet its commitment. Terminalling and Storage Services Revenue from terminalling and storage operations is recognized as services are performed. Terminalling and storage revenue includes terminalling or throughput fees, which are generated when we receive and redeliver liquid petroleum products from and to pipelines, sea-going vessels, trucks, or rail-cars, as well as storage fees, which are generated as we provide storage capacity. We generate revenue through a combination of month-to-month and multi-year terminalling service and storage capacity arrangements. The majority of our contracts have a single performance obligation to provide terminalling and storage services that is primarily satisfied over time as these services are provided. Terminalling fees, as applicable, are recognized as the liquid petroleum product is delivered to a connecting carrier or to a customer’s designated mode of transport, which could include a pipeline, truck, marine vessel, or rail-car or, in certain situations, as product is received, based on the volume of product handled. Storage fees for contract capacity are typically recognized in revenue ratably over the term of the contract, regardless of the amount of the contracted storage capacity utilized by the customer. As discussed above with respect to transportation services, progress in performing terminalling services is generally measured based upon the volume of product handled. Certain of our terminalling and storage services arrangements include product loss allowance provisions intended to, among other things, compensate for losses due to evaporation, measurement tolerances, and other product recoveries and losses. We value the difference of allowance volumes to actual losses at the estimated net realizable value in the period the variance occurred, and the result is recorded as an adjustment to terminalling and storage services revenue. We have certain contracts containing tiered pricing or volume-based discounts, which are recognized in revenue as a purchase option to acquire additional services in the period the services are performed. In addition, we have certain agreements that require counterparties to throughput a minimum volume over an agreed-upon period. Revenue pursuant to such agreements is recognized at the earlier of when the volume is throughput or proportionally if we determine that the customer is not expected to meet its commitment. Revenue from other ancillary services is recognized as services are rendered. Our services are typically billed on a monthly basis, and we generally do not offer extended payment terms. Merchant Services Revenue from the sale of petroleum products, on a wholesale basis, is recognized at the time title to the product sold transfers to the purchaser, which generally occurs upon delivery of the product to the purchaser or its designee. Our contracts contain a single performance obligation to sell a particular petroleum product, which is generally satisfied as quantities are delivered to our customer. Our commodity sales are typically billed at the time product is delivered, and we generally do not offer extended payment terms. Operation and Construction Services Revenue from contract operation and construction services for facilities and pipelines not directly owned by us is recognized as the services are performed. Contract and construction services revenue typically includes costs to be reimbursed by the customer plus an operator fee. Our contracts have a single performance obligation to provide operation and construction services, which is satisfied over time as services are provided. Revenue is generally recognized utilizing costs incurred to measure our progress in fulfilling our performance obligation. Our services are typically billed on a monthly basis, and we generally do not offer extended payment terms. Contract Balances Contract assets primarily relate to our rights to consideration for completed performance obligations that are not billable at the reporting date. We recognize contract assets in situations where revenue recognition occurs prior to billing the customer based on our rights under the contract. Contract assets are transferred to accounts receivable when the rights become unconditional, which is generally upon billing. Contract liabilities primarily relate to consideration received from customers in advance of completing the performance obligation. We recognize contract liabilities under these arrangements as revenue once all contingencies or potential performance obligations have been satisfied by either the (i) transportation of volumes, (ii) performance of terminalling and storage services, or (iii) expiration of the customer’s rights under the contract. We also recognize contract liabilities in revenue to the extent it is determined that an amount of volume associated with a minimum volume commitment payment will not be shipped by the customer in a future period. The following table provides information about receivables from contracts with customers, contract assets and contract liabilities (in thousands): September 30, December 31, 2017 Receivables from contracts with customers $ 224,690 $ 245,280 Contract assets 23,942 13,999 Contract liabilities (24,386 ) (15,778 ) During the three and nine months ended September 30, 2018 , we reclassified approximately $0.1 million and $13.9 million , respectively, of contract assets at the beginning of the period to receivables as a result of the rights to the consideration becoming unconditional and billable. Revenue recognized during the three and nine months ended September 30, 2018 from amounts included in contract liabilities at the beginning of the period was approximately $0.8 million and $7.4 million , respectively. The following table includes estimated revenue associated with contractual commitments in place related to future performance obligations as of the end of the reporting period, which are expected to be recognized in revenue in the specified periods (in thousands): Estimated Revenue (1) Remainder of 2018 $ 109,664 2019 288,367 2020 187,766 2021 115,247 Thereafter 232,653 Total $ 933,697 (1) Excludes revenue arrangements accounted for as leases in the amount of $52.0 million for the remainder of 2018, $201.8 million for 2019, $194.2 million for 2020, $175.9 million for 2021, and $173.6 million thereafter. Our contractually committed revenue disclosure, for purposes of the tabular presentation above, excludes estimates of variable rate escalation clauses in our contracts with customers and is generally limited to contracts which have fixed pricing and minimum volume terms and conditions. Our contractually committed revenue disclosure generally excludes remaining performance obligations on contracts with index-based pricing or variable volume attributes.

ACQUISITIONS AND INVESTMENTS

ACQUISITIONS AND INVESTMENTS	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
ACQUISITIONS AND INVESTMENTS	3. ACQUISITIONS AND INVESTMENTS South Texas Transactions In April 2018, as part of our strategy to serve the volume growth in crude oil and related products from the Permian Basin, we expanded our marine terminal presence in Corpus Christi, Texas, through the following transactions: (i) acquired our business partner’s 20% interest in our Buckeye Texas consolidated subsidiary, and (ii) formed a joint venture (the “South Texas Gateway Terminal” or “STG Terminal”) to develop a new deep-water, open-access marine terminal in Ingleside, Texas at the mouth of Corpus Christi Bay with Phillips 66 Partners LP (“Phillips 66 Partners”) and Gray Oak Gateway Holdings (“Marathon”, formerly known as “Andeavor”). We acquired our partner’s interest in Buckeye Texas for $210 million , and as a result we now own 100% of Buckeye Texas. The change in our ownership interest was accounted for as an equity transaction, representing the acquisition of a noncontrolling interest. The STG Terminal, to be constructed and operated by us, will offer 5.1 million barrels of crude oil tank capacity, a 1.7 million increase over the initial announced design of 3.4 million barrels, connectivity to the Gray Oak pipeline; and two deep-water vessel docks capable of berthing very large crude carrier petroleum tankers as part of the initial scope of construction. The Gray Oak pipeline will provide crude oil transportation from West Texas to destinations in the Corpus Christi and Sweeny/Freeport markets. The initial 3.4 million barrels of crude oil tank capacity, the pipeline, and two deep-water vessel docks are expected to be placed in service by the end of 2019 with the incremental 1.7 million barrels of tankage and additional dock throughput capacity to be placed in service by mid-2020. The STG Terminal is supported by long-term minimum volume throughput commitments from credit-worthy customers, including our joint-venture partners. We own a 50% interest in the STG Terminal, and Phillips 66 Partners and Marathon each own a 25% interest. The total construction costs for the STG Terminal through mid-2020 are estimated on a 100% basis at $413.4 million . During the second quarter of 2018, we contributed an initial $28.4 million and committed to fund our proportionate share of the total construction costs, which is currently estimated at $206.7 million . We account for our interest in STG Terminal, which is included in our Global Marine Terminals segment, using the equity method of accounting. Business Combination Duck Island terminal acquisition In December 2017, we acquired Duck Island Terminal LLC, a liquid petroleum products terminalling business in Trenton, New Jersey, for approximately $26.1 million , net of cash acquired of $2.4 million . The final working capital settlement of $0.9 million was received in the first quarter of 2018. The assets, liabilities, and operating results of this entity are reported in our Domestic Pipelines & Terminals segment. The purchase price has been allocated on a preliminary basis to assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with amounts exceeding the fair value recorded as goodwill, which represents expected synergies from combining the acquired assets with our existing operations. Fair values have been developed using recognized business valuation techniques, with inputs classified as Level 3 within the fair value hierarchy. The purchase price has been allocated to tangible and intangible assets acquired as follows (in thousands): Current assets, including cash acquired of $2,444 $ 8,989 Property, plant and equipment 18,306 Intangible assets 2,200 Goodwill 2,812 Current liabilities (3,516 ) Environmental liabilities (300 ) Allocated purchase price $ 28,491 Adjustments to the preliminary purchase price allocation during the nine months ended September 30, 2018 resulted in nominal decreases to current liabilities, with a corresponding increase to goodwill. We will finalize our purchase price allocation during the fourth quarter of 2018. Unaudited Pro forma Financial Results for Duck Island terminal acquisition Our unaudited condensed consolidated statements of operations do not include earnings from the terminalling business prior to December 20, 2017, the closing date of the acquisition. Unaudited pro forma financial information for this acquisition was not prepared because the impact was immaterial to our financial results for the three and nine months ended September 30, 2018 and 2017 . VTTI Acquisition During 2017, we acquired an indirect 50% equity interest in VTTI for cash consideration of $1.15 billion (the “VTTI Acquisition”) and made a capital contribution to VTTI, in the amount of $236.8 million , to fund our 50% share of the aggregate cash consideration paid by VTTI to acquire all of the outstanding publicly held units of VTTI Energy Partners LP, formerly a publicly traded master limited partnership. We own VTTI jointly with Vitol S.A. (“Vitol”). VTTI is one of the largest independent global marine terminal businesses which, through its subsidiaries and partnership interests, owns and operates approximately 60 million barrels of petroleum products storage across 15 terminals located on five continents. These marine terminals are predominately located in key global energy hubs, including Northwest Europe, the Middle East and Southeast Asia, and offer world-class storage and marine terminalling services for liquid petroleum products. We and VIP Terminals Finance B.V., a subsidiary of Vitol, have equal board representation and voting rights in the VTTI joint venture. We account for this investment using the equity method of accounting. The earnings from our equity investment in VTTI are reported in our Global Marine Terminals segment. In addition, we include our proportionate share of our equity method investments’ OCI in our unaudited condensed consolidated statement of comprehensive income. As discussed in the Strategic Review section of Note 1, on November 1, 2018, we executed a definitive agreement to sell our 50% equity interest in VTTI. We expect this transaction to close during the fourth quarter of 2018, subject to normal regulatory approvals.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	4. COMMITMENTS AND CONTINGENCIES Claims and Legal Proceedings In the ordinary course of business, we are involved in various claims and legal proceedings, some of which are covered by insurance. We are generally unable to predict the timing or outcome of these claims and proceedings. Based upon our evaluation of existing claims and proceedings and the probability of losses resulting from such contingencies, we have accrued certain amounts relating to such claims and proceedings, none of which are considered material. Environmental Contingencies At September 30, 2018 and December 31, 2017 , we had $45.4 million and $41.0 million , respectively, of environmental remediation liabilities unrelated to claims and legal proceedings. Costs ultimately incurred may be in excess of our estimates, which may have a material impact on our financial condition, results of operations or cash flows. At September 30, 2018 and December 31, 2017 , we had $4.4 million and $5.3 million , respectively, of receivables related to these environmental remediation liabilities covered by insurance or third-party claims.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
INVENTORIES	5. INVENTORIES Our inventory amounts were as follows at the dates indicated (in thousands): September 30, December 31, Liquid petroleum products (1) $ 173,659 $ 280,934 Materials and supplies 23,857 20,491 Total inventories $ 197,516 $ 301,425 (1) Ending inventory was 75.7 million and 142.1 million gallons of liquid petroleum products as of September 30, 2018 and December 31, 2017 , respectively. At September 30, 2018 and December 31, 2017 , approximately 95% and 85% of our liquid petroleum products inventory volumes were designated in a fair value hedge relationship, respectively. Because we generally designate inventory as a hedged item upon purchase, hedged inventory is valued at current market prices with the change in value of the inventory being reflected in our unaudited condensed consolidated statements of operations.

PREPAID AND OTHER CURRENT ASSET

PREPAID AND OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID AND OTHER CURRENT ASSETS	6. PREPAID AND OTHER CURRENT ASSETS Prepaid and other current assets consist of the following at the dates indicated (in thousands): September 30, December 31, Prepaid insurance $ 11,882 $ 7,146 Margin deposits 5,254 7,989 Contract assets 23,942 13,999 Prepaid taxes 7,890 2,865 Other 16,261 4,340 Total prepaid and other current assets $ 65,229 $ 36,339

EQUITY INVESTMENTS

EQUITY INVESTMENTS	9 Months Ended
	Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
EQUITY INVESTMENTS	7. EQUITY INVESTMENTS The following table presents earnings (loss) from equity investments for the periods indicated (in thousands): Three Months Ended Nine Months Ended Segment 2018 2017 2018 2017 VTTI B.V. Global Marine Terminals $ 4,375 $ 6,396 $ 13,647 $ 15,111 Non-cash loss on write-down of investment in VTTI B.V. (1) Global Marine Terminals (300,280 ) — (300,280 ) — West Shore Pipe Line Company Domestic Pipelines & Terminals 2,750 1,772 7,542 4,913 Muskegon Pipeline LLC Domestic Pipelines & Terminals 353 501 1,109 1,303 Transport4, LLC Domestic Pipelines & Terminals 164 206 614 650 South Portland Terminal LLC Domestic Pipelines & Terminals 502 357 1,162 733 South Texas Gateway Terminal LLC (2) Global Marine Terminals (251 ) — (427 ) — Total (loss) earnings from equity investments $ (292,387 ) $ 9,232 $ (276,633 ) $ 22,710 (1) As discussed in the Strategic Review section of Note 1, we recorded a non-cash loss related to the anticipated sale of our equity investment in VTTI during the three months ended September 30, 2018 . (2) In April 2018, we formed the STG Terminal joint venture. For additional information, see Note 3. The non-cash loss related to the anticipated sale of our equity investment in VTTI was the primary factor underlying the decrease in our equity investments balance in the unaudited condensed consolidated balance sheet. Summarized combined income statement data for our equity method investments are as follows for the periods indicated (amounts represent 100% of investee income statement data in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Revenue $ 145,137 $ 143,946 $ 435,827 $ 403,985 Operating income 42,637 52,766 132,446 138,195 Net income 24,262 30,874 75,394 84,807 Net income attributable to investee 22,748 23,565 70,877 63,347

GOODWILL GOODWILL

GOODWILL GOODWILL	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	8. GOODWILL Goodwill represents the excess of purchase price over fair value of net assets acquired. Our goodwill amounts are assessed for impairment on an annual basis on October 31 st and on an interim basis if circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Due to the persistence of unfavorable market conditions affecting our segregated storage operations, particularly in the Caribbean region, and considering the near-term outlook and actions resulting from our recently completed Strategic Review as further discussed in Note 1, we performed a goodwill recoverability assessment for each of our reporting units as of September 30, 2018. Subsequent to our annual goodwill impairment test in the fourth quarter of 2017, we have experienced continuing declines in the utilization of our segregated storage assets, as well as reductions in rate and term upon recontracting, and expect this weakness in demand for segregated storage to continue for certain locations through 2019. Goodwill is tested for impairment at each reporting unit. A reporting unit is a business segment or one level below a business segment for which discrete financial information is available and regularly reviewed by segment management. Our reporting units are our business segments, with the exception of our Global Marine Terminals segment which consists of: (i) our operations in the Caribbean, New York Harbor, and equity investment in VTTI (collectively “GMT Caribbean and NYH” reporting unit); and (ii) our operations in South Texas, including our equity investment in the STG Terminal (the “GMT South Texas” reporting unit). As noted in Note 1, we adopted ASU 2017-04 which simplified the test for goodwill impairment. Under the new guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment is recorded for the amount of the excess up to the amount of goodwill for the respective reporting unit. The estimate of the fair value of the reporting unit is determined using a weighting of an expected present value of future cash flows and a market multiple valuation method, giving more weighting to our estimate of future cash flows. The present value of future cash flows is estimated using: (i) discrete financial forecasts, which rely on management’s estimates of revenue and operating expenses; (ii) long-term growth rates; and (iii) appropriate discount rates. The market multiple valuation method uses appropriate market multiples from comparable companies on the reporting unit’s earnings before interest, tax, depreciation and amortization. We evaluate industry and market conditions for purposes of weighting the income and market valuation approach. Using this methodology, which qualifies as Level 3 within the fair value hierarchy, we estimated the fair value of each of our reporting units and determined that the fair value of each of our reporting units significantly exceed their respective carrying values, with the exception of the GMT Caribbean and NYH reporting unit. Applying reasonable sensitivities to any or a combination of the above valuation inputs would not have generated a materially different determination of fair value. As a result of the assessment described above, we concluded that the goodwill in our GMT Caribbean and NYH reporting unit was fully impaired and recorded a non-cash goodwill impairment charge of $537.0 million . In conjunction with the goodwill impairment assessment, we considered impairment indicators related to the long-lived assets and investments associated with our GMT Caribbean and NYH reporting unit. Accordingly, we evaluated these assets for impairment and concluded that no impairment of long-lived assets existed as of September 30, 2018 ; however, we did record an approximately $300.3 million non-cash loss related to the anticipated sale of our equity investment in VTTI as further discussed in Note 1. The changes in the carrying amount of goodwill by reporting unit are as follows at the dates indicated (in thousands): Domestic Pipelines & Terminals Merchant Services GMT Caribbean and NYH GMT South Texas Total December 31, 2017 $ 298,471 $ 4,499 $ 536,964 $ 167,379 $ 1,007,313 Purchase price adjustments 44 — — — 44 Impairment of goodwill — — (536,964 ) — (536,964 ) September 30, 2018 298,515 4,499 — 167,379 470,393

OTHER NON-CURRENT ASSETS OTHER

OTHER NON-CURRENT ASSETS OTHER NON-CURRENT ASSETS	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER NON-CURRENT ASSETS	9. OTHER NON-CURRENT ASSETS Other non-current assets consist of the following at the dates indicated (in thousands): September 30, December 31, Debt issuance costs, net $ 2,418 $ 3,022 Insurance receivables related to environmental remediation reserves 2,051 2,794 BBH jetty-allision insurance receivable — 7,372 Other 33,244 38,295 Total other non-current assets $ 37,713 $ 51,483

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
LONG-TERM DEBT	10. LONG-TERM DEBT Extinguishment of Debt In January 2018, we repaid in full the $300.0 million principal amount and $9.1 million of accrued interest outstanding under our 6.050% notes, using funds available under our $1.5 billion revolving credit facility with SunTrust Bank (the “Credit Facility”). Notes Offerings In January 2018, we issued $400.0 million of junior subordinated notes (“Junior Notes”) maturing on January 22, 2078, which are redeemable at Buckeye’s option, in whole or in part, on or after January 22, 2023. The Junior Notes bear interest at a fixed rate of 6.375% per year up to, but not including, January 22, 2023. From January 22, 2023, the Junior Notes will bear interest at a floating rate based on the Three-Month London Interbank Offered Rate (“LIBOR”) plus 4.02% , reset quarterly. Total proceeds from this offering, after underwriting fees, expenses, and debt issuance costs, were $394.9 million . We used the net proceeds from this offering to reduce indebtedness outstanding under our Credit Facility and for general partnership purposes. Current Maturities Expected to be Refinanced We have classified $400.0 million of 2.650% notes due on November 15, 2018, $275.0 million of 5.500% notes due on August 15, 2019, and our $250.0 million variable-rate term loan due on September 30, 2019 (the “Term Loan”) as long-term debt in the unaudited condensed consolidated balance sheet at September 30, 2018 because we have the ability to refinance these obligations on a long-term basis under our Credit Facility. At September 30, 2018 , we had $924.3 million of additional borrowing capacity under our Credit Facility. The anticipated proceeds from the asset divestitures discussed in Note 1 are expected to be used to pay down debt, with the specific debt instruments to be determined at that time. In the absence of such proceeds, or if other debt instruments are selected for retirement, management’s intent would be to refinance the maturing obligations on a long-term basis. Credit Facility At September 30, 2018, we had a $572.6 million outstanding balance under the Credit Facility. The weighted average interest rate for borrowings under the Credit Facility was 4.6% during the nine months ended September 30, 2018.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to financial market risks, including changes in interest rates and commodity prices, in the course of our normal business operations. We use derivative instruments to manage such risks. Interest Rate Derivatives From time to time, we utilize forward-starting interest rate swaps to hedge the variability of the forecasted interest payments on anticipated debt issuances that may result from changes in the benchmark interest rate until the expected debt is issued. When entering into interest rate swap transactions, we become exposed to both credit risk and market risk. We are subject to credit risk when the change in fair value of the swap instrument is positive and the counterparty may fail to perform under the terms of the contract. We are subject to market risk with respect to changes in the underlying benchmark interest rate that impacts the fair value of the swaps. We manage our credit risk by entering into swap transactions only with major financial institutions with investment-grade credit ratings. We manage our market risk by aligning the swap instrument with the existing underlying debt obligation or a specified expected debt issuance, generally associated with the maturity of an existing debt obligation. We designate the swap agreements as cash flow hedges at inception and expect the changes in values to be highly correlated with the changes in value of the underlying borrowings. During 2016, we entered into eleven forward-starting interest rate swaps with a total aggregate notional amount of $500.0 million , in anticipation of the issuance of debt on or before November 15, 2018 to repay the $400.0 million of 2.650% notes that are due on November 15, 2018, as well as to fund capital expenditures and for other general partnership purposes. During the three and nine months ended September 30, 2018 , unrealized gains of $7.3 million and $27.7 million , respectively, were recorded in accumulated other comprehensive income (“AOCI”) to reflect the change in the fair values of the forward-starting interest rate swaps. Commodity Derivatives Our Merchant Services segment primarily uses exchange-traded refined petroleum product futures contracts to manage the risk of market price volatility on its refined petroleum product inventories and its physical derivative contracts, which we designate as fair value hedges, with changes in fair value of both the futures contracts and physical inventory reflected in earnings. Our Merchant Services segment also uses exchange-traded refined petroleum contracts to hedge expected future transactions related to certain gasoline inventory that we manage on behalf of a third party, which are designated as cash flow hedges, with the effective portion of the hedge reported in OCI and reclassified into earnings when the expected future transaction affects earnings. Any gains or losses incurred on the derivative instruments that are not effective in offsetting changes in fair value or cash flows of the hedged item are recognized immediately in earnings. Additionally, our Merchant Services segment enters into exchange-traded refined petroleum product futures contracts on behalf of our Domestic Pipelines & Terminals segment to manage the risk of market price volatility on the gasoline-to-butane pricing spreads associated with our butane blending activities managed by a third party. These futures contracts are not designated in a hedge relationship for accounting purposes. Physical forward contracts and futures contracts that have not been designated in a hedge relationship are marked-to-market through earnings. The following table summarizes the notional volumes of the net long (short) positions of our commodity derivative instruments outstanding at September 30, 2018 (amounts in thousands of gallons): Volume Derivative Purpose Current Long-Term Derivatives NOT designated as hedging instruments: Physical fixed-price derivative contracts (19,530 ) (82 ) Physical index derivative contracts 13,762 — Futures contracts for refined petroleum products 8,549 168 Hedge Type Derivatives designated as hedging instruments: Futures contracts for refined petroleum products (71,778 ) — Fair Value Hedge Our futures contracts designated as fair value hedges relate to our inventory portfolio and extend to the first quarter of 2019. Our futures contracts related to forecasted purchases and sales of refined petroleum products, not designated in a hedging relationship, extend to the fourth quarter of 2019 . In accordance with the Chicago Mercantile Exchange (“CME”) rulebook, variation margin transfers are considered settlement payments, thereby reducing the corresponding derivative asset and liability balances for our exchange-settled derivative contracts. These settlement payments result in realized gains and losses on derivatives. The following table sets forth the fair value of each classification of derivative instruments and the derivative instruments’ location on our unaudited condensed consolidated balance sheets at the dates indicated (in thousands): September 30, 2018 Derivatives NOT Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivative Carrying Value Netting Balance Sheet Adjustment (1) Net Total Physical fixed-price derivative contracts $ 443 $ — $ 443 $ (28 ) $ 415 Physical index derivative contracts 170 — 170 (12 ) 158 Interest rate derivative contracts — 59,733 59,733 — 59,733 Total current derivative assets 613 59,733 60,346 (40 ) 60,306 Physical fixed-price derivative contracts — — — — — Total non-current derivative assets — — — — — Physical fixed-price derivative contracts (5,778 ) — (5,778 ) 28 (5,750 ) Physical index derivative contracts (19 ) — (19 ) 12 (7 ) Total current derivative liabilities (5,797 ) — (5,797 ) 40 (5,757 ) Physical fixed-price derivative contracts (9 ) — (9 ) — (9 ) Total non-current derivative liabilities (9 ) — (9 ) — (9 ) Net derivative (liabilities) assets $ (5,193 ) $ 59,733 $ 54,540 $ — $ 54,540 (1) Amounts represent the netting of physical fixed price and index contracts’ assets and liabilities when a legal right of offset exists. December 31, 2017 Derivatives NOT Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivative Carrying Value Netting Balance Sheet Adjustment (1) Net Total Physical fixed-price derivative contracts $ 2,582 $ — $ 2,582 $ (63 ) $ 2,519 Physical index derivative contracts 455 — 455 (9 ) 446 Interest rate derivative contracts — 31,994 31,994 — 31,994 Total current derivative assets 3,037 31,994 35,031 (72 ) 34,959 Total non-current derivative assets — — — — — Physical fixed-price derivative contracts (7,226 ) — (7,226 ) 63 (7,163 ) Physical index derivative contracts (18 ) — (18 ) 9 (9 ) Total current derivative liabilities (7,244 ) — (7,244 ) 72 (7,172 ) Total non-current derivative liabilities — — — — — Net derivative (liabilities) assets $ (4,207 ) $ 31,994 $ 27,787 $ — $ 27,787 (1) Amounts represent the netting of physical fixed price and index contracts’ assets and liabilities when a legal right of offset exists. At September 30, 2018 , open refined petroleum product derivative contracts (represented by the physical fixed-price contracts and physical index contracts noted above) varied in duration in the overall portfolio, but did not extend beyond November 2019 . In addition, at September 30, 2018 , we had refined petroleum product inventories that we intend to use to satisfy a portion of the physical derivative contracts. The gains and losses on our derivative instruments recognized in income were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives NOT designated as hedging instruments: Physical fixed-price derivative contracts Product sales $ (3,887 ) $ (7,209 ) $ (4,192 ) $ (257 ) Physical index derivative contracts Product sales 123 57 283 58 Physical fixed-price derivative contracts Cost of product sales 697 1,462 644 1,380 Physical index derivative contracts Cost of product sales 53 115 479 453 Futures contracts for refined products Cost of product sales 2,493 15,861 (2,070 ) 15,061 Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives designated as fair value hedging instruments: Futures contracts for refined products Cost of product sales $ (8,049 ) $ (51,093 ) $ (12,355 ) $ 1,758 Physical inventory - hedged items Cost of product sales 7,214 48,236 10,754 7,536 Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Ineffectiveness excluding the time value component on fair value hedging instruments: Fair value hedge ineffectiveness (excluding time value) Cost of product sales $ 1,196 $ (3,299 ) $ 1,000 $ (5,929 ) Time value excluded from hedge assessment Cost of product sales (2,031 ) 442 (2,601 ) 15,223 The change in value recognized in OCI and the losses reclassified from AOCI to income, attributable to our derivative instruments designated as cash flow hedges, were as follows for the periods indicated (in thousands): Gain (Loss) Recognized in OCI on Derivatives for the Three Months Ended Nine Months Ended 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments: Interest rate derivative contracts $ 7,322 $ (2,207 ) $ 27,739 $ (12,670 ) Commodity derivatives (193 ) (3,557 ) 2,464 675 Total $ 7,129 $ (5,764 ) $ 30,203 $ (11,995 ) Loss Reclassified from AOCI to Income (Effective Portion) for the Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments: Interest rate derivative contracts Interest and debt expense $ (2,296 ) $ (3,038 ) $ (6,928 ) $ (9,113 ) Total $ (2,296 ) $ (3,038 ) $ (6,928 ) $ (9,113 ) Over the next twelve months, we expect to reclassify $4.5 million of net losses attributable to interest rate derivatives from AOCI to earnings as an increase to interest and debt expense. These net losses consist of $11.2 million of amortization of hedge losses on settled forward-starting interest rate swaps, partially offset by $6.7 million of amortization of hedge gains on settled forward-starting interest rate swaps settled in November 2017 and forecasted hedge gains on forward-starting interest rate swaps that we expect to settle in late 2018.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	12. FAIR VALUE MEASUREMENTS We categorize our financial assets and liabilities using the three-tier fair value hierarchy as follows: Recurring The following table sets forth financial assets and liabilities measured at fair value on a recurring basis, as of the measurement dates indicated, and the basis for that measurement, by level within the fair value hierarchy (in thousands): September 30, 2018 December 31, 2017 Level 1 Level 2 Level 1 Level 2 Financial assets: Physical fixed-price derivative contracts $ — $ 443 $ — $ 2,582 Physical index derivative contracts — 170 — 455 Interest rate derivatives — 59,733 — 31,994 Financial liabilities: Physical fixed-price derivative contracts — (5,787 ) — (7,226 ) Physical index derivative contracts — (19 ) — (18 ) Futures contracts for refined products — — — — Fair value $ — $ 54,540 $ — $ 27,787 The values of the Level 1 derivative assets and liabilities were based on quoted market prices obtained from the New York Mercantile Exchange. The values for exchange-settled commodity derivatives are presented in accordance with the CME rulebook, which deems that these instruments are settled daily via variation margin payments. As a result of this rulebook guidance, CME-settled derivatives, primarily comprised of our futures contracts for refined petroleum products, are considered to have no fair value at the balance sheet date for financial reporting purposes; however, the derivatives remain outstanding and subject to future commodity price fluctuations until they are settled in accordance with their contractual terms. The values of the Level 2 interest rate derivatives were determined using fair value estimates obtained from our counterparties, which are verified using other available market data, including cash flow models which incorporate market inputs including the implied forward LIBOR yield curve for the same period as the future interest rate swap settlements. Credit value adjustments (“CVAs”), which are used to reflect the potential nonperformance risk of our counterparties, are considered in the fair value assessment of interest rate derivatives. We determined that the impact of CVAs is not significant to the overall valuation of interest rate derivatives as of September 30, 2018 and December 31, 2017 . The values of the Level 2 commodity derivative contracts were calculated using market approaches based on observable market data inputs, including published commodity pricing data, which is verified against other available market data, and market interest rate and volatility data. Level 2 physical fixed-price derivative assets are net of CVAs determined using an expected cash flow model, which incorporates assumptions about the credit risk of the derivative contracts based on the historical and expected payment history of each customer, the amount of product contracted for under the agreement and the customer’s historical and expected purchase performance under each contract. The Merchant Services segment determined CVAs are appropriate because few of the Merchant Services segment’s customers entering into these derivative contracts are large organizations with nationally recognized credit ratings. The CVAs were nominal as of September 30, 2018 and December 31, 2017 . As of September 30, 2018 and December 31, 2017 , the Merchant Services segment did not hold any net liability derivative position containing credit contingent features. Financial instruments included in current assets and current liabilities are reported in the unaudited condensed consolidated balance sheets at amounts which approximate fair value due to the relatively short period to maturity of these financial instruments. The fair values of our fixed-rate debt were estimated by observing market trading prices and by comparing the historic market prices of our publicly issued debt with the market prices of the publicly issued debt of other MLPs with similar credit ratings and terms. The fair value of our variable-rate debt approximates the carrying amount since the associated interest rates are market-based. The carrying value and fair value of our debt, using Level 2 input values, were as follows at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Fixed-rate debt $ 3,945,363 $ 3,862,064 $ 4,241,963 $ 4,384,336 Variable-rate debt 1,218,038 1,222,621 668,562 668,904 Total debt $ 5,163,401 $ 5,084,685 $ 4,910,525 $ 5,053,240 In addition, our pension plan assets are measured at fair value on a recurring basis, based on Level 1 and Level 3 inputs. We recognize transfers between levels within the fair value hierarchy as of the beginning of the reporting period. We did not have any transfers between Level 1 and Level 2 during the nine months ended September 30, 2018 . Non-Recurring Certain nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. During the three months ended September 30, 2018 , we recorded a $300.3 million non-cash loss related to the anticipated sale of our equity investment in VTTI based on Level 2 inputs and a $537.0 million non-cash goodwill impairment charge related to our GMT Caribbean and NYH reporting unit based on Level 3 inputs. Refer to the Strategic Review section of Note 1, as well as Note 8, for further details on fair value adjustments recorded during the quarter ended September 30, 2018 .

UNIT-BASED COMPENSATION PLANS

UNIT-BASED COMPENSATION PLANS	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
UNIT-BASED COMPENSATION PLANS	13. UNIT-BASED COMPENSATION PLANS We award unit-based compensation to employees and directors primarily under the 2013 Long Term Incentive Plan of Buckeye Partners, L.P. (the “LTIP”), which was approved by the Partnership’s unitholders in June 2013 and subsequently amended and restated in June 2017. The LTIP replaced the 2009 Long-Term Incentive Plan (the “2009 Plan”), which was merged with and into the LTIP, and no further grants have since been made under the 2009 Plan. We formerly awarded options to acquire LP Units to employees pursuant to the Buckeye Partners, L.P. Unit Option and Distribution Equivalent Plan (the “Option Plan”). We recognized compensation expense related to awards under the LTIP and the Option Plan of $4.9 million and $8.2 million for the three months ended September 30, 2018 and 2017 , respectively. For the nine months ended September 30, 2018 and 2017 , we recognized compensation expense of $21.7 million and $25.9 million , respectively. LTIP As of September 30, 2018 , there were 2,153,121 LP Units available for issuance under the LTIP. Deferral Plan under the LTIP We also maintain the Buckeye Partners, L.P. Unit Deferral and Incentive Plan, as amended and restated effective December 13, 2016 (the “Deferral Plan”), pursuant to which we issue phantom and matching units under the LTIP to certain employees in lieu of cash compensation at the election of the employee. During the nine months ended September 30, 2018 , 149,726 phantom units (including matching units) were granted under this plan. These grants are included as granted in the LTIP activity table below. Awards under the LTIP During the nine months ended September 30, 2018 , the Compensation Committee of the Board granted 350,015 phantom units to employees (including the 149,726 phantom units granted pursuant to the Deferral Plan, as discussed above), 18,000 phantom units to independent directors of Buckeye GP and 274,688 performance units to employees. The following table sets forth the LTIP activity for the periods indicated (in thousands, except per unit amounts): Number of LP Units Weighted Average Grant Date Fair Value per LP Unit (1) Unvested at January 1, 2018 1,450 $ 64.04 Granted (2) 643 51.47 Performance adjustment (3) 39 73.17 Vested (401 ) 72.53 Forfeited (33 ) 58.98 Unvested at September 30, 2018 1,698 $ 57.52 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. The weighted-average grant date fair value per LP Unit for forfeited and vested awards is determined before an allowance for forfeitures. (2) Includes both phantom and performance awards. Performance awards are granted at a target amount but, depending on our performance during the vesting period with respect to certain pre-established goals, the number of LP Units issued upon vesting of such performance awards can be greater or less than the target amount. (3) Represents the LP Units issued in excess of target amounts for performance awards that vested during the nine months ended September 30, 2018 as a result of our above target performance with respect to applicable performance goals. At September 30, 2018 , $38.8 million of compensation expense related to the unvested LTIP is expected to be recognized over a weighted average remaining period of 1.8 years . We ceased making additional grants under the Option Plan following the adoption of the 2009 Plan, subsequently replaced by the LTIP. At December 31, 2017, there was no unrecognized compensation cost related to unvested options, as all options were vested and exercised as of November 24, 2017. The total intrinsic value of options exercised during each of the nine months ended September 30, 2018 and 2017 were zero and $0.2 million , respectively.

PARTNERS' CAPITAL AND DISTRIBUT

PARTNERS' CAPITAL AND DISTRIBUTIONS	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
PARTNERS' CAPITAL AND DISTRIBUTIONS	14. PARTNERS’ CAPITAL AND DISTRIBUTIONS Our LP Units and Class C Units represent limited partnership interests, which give the holders thereof the right to participate in distributions and to exercise the other rights and privileges available to them under our partnership agreement. The partnership agreement provides that, without prior approval of our limited partners holding an aggregate of at least two-thirds of the outstanding LP Units and Class C Units (voting together as a single class), we cannot issue any limited partnership interests of a class or series having preferences or other special or senior rights over the LP Units and Class C Units. Equity Offering In March 2018, we issued approximately 6.2 million Class C Units in a private placement for aggregate gross proceeds of $265.0 million . The net proceeds were $262.0 million , after deducting issuance costs of approximately $3.0 million . We used the net proceeds from this offering to reduce the indebtedness outstanding under our Credit Facility, to partially fund growth capital expenditures and for general partnership purposes. Class C Units represent a separate class of our limited partnership interests. The Class C Units are substantially similar in all respects to our existing LP units, except that Buckeye has the option to pay distributions on the Class C Units in cash or by issuing additional Class C Units. Because our declared quarterly cash distribution amount represents a reduction from the prior quarter, the 6,714,963 Class C Units outstanding as of September 30, 2018, will convert into LP Units on a one-for-one basis on November 5, 2018. Accordingly, the holders of these newly converted LP Units will receive the quarterly cash distribution of $0.75 per LP Unit, instead of an in-kind distribution of additional Class C Units. See Note 1 for additional information. At-the-Market Offering Program Our equity distribution agreement (the “Equity Distribution Agreement”) with J.P. Morgan Securities LLC, BB&T Capital Markets, a division of BB&T Securities, LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Jefferies LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc. (collectively, the “ATM Underwriters”) expired on January 15, 2018. During the nine months ended September 30, 2018 , no LP Units were sold under the Equity Distribution Agreement. Summary of Changes in Outstanding Units The following is a summary of changes in Buckeye ’ s outstanding LP Units and Class C Units for the periods indicated (in thousands): LP Units Class C Units (2) Total Units outstanding at January 1, 2018 146,677 — 146,677 LP units issued pursuant to the LTIP (1) 272 — 272 Issuance of Class C Units — 6,221 6,221 Issuance of Class C Units in lieu of quarterly cash distributions — 494 494 Units outstanding at September 30, 2018 146,949 6,715 153,664 (1) The number of LP Units issued represents issuance net of tax withholding. (2) The Class C Units will convert to LP Units on November 5, 2018, as discussed above. Distributions Cash distributions are paid for LP Units and for DERs with respect to certain unit-based compensation awards outstanding as of each respective period. Actual cash distributions on our LP Units totaled $560.2 million ( $3.7875 per LP Unit) and $531.4 million ( $3.75 per LP Unit) during the nine months ended September 30, 2018 and 2017 , respectively. We also made distributions in-kind to our Class C unitholders by issuing approximately 494 thousand Class C Units during the nine months ended September 30, 2018 . On November 2, 2018 , we announced a quarterly cash distribution of $0.75 per LP Unit that will be paid on November 20, 2018 to unitholders of record on November 13, 2018 . Because the Class C Units are subject to conversion into LP Units on the business day following any declaration of a quarterly cash distribution of less than $1.2625 , the 6,714,963 Class C Units outstanding as of September 30, 2018, will convert into LP Units on November 5, 2018 and participate in this and future cash distributions. Based upon outstanding LP Units (including the newly converted LP Units resulting from the Class C Units conversion) and DERs with respect to certain unit-based compensation awards, the aggregate cash amount to be distributed on November 20, 2018, is estimated to be approximately $116.0 million .

EARNINGS PER UNIT

EARNINGS PER UNIT	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER UNIT	15. EARNINGS PER UNIT The following tables set forth the calculation of basic and diluted earnings (loss) per unit, attributable to Buckeye’s unitholders (including LP Units and Class C Units), taking into consideration net income allocable to participating securities, as well as the reconciliation of basic weighted average units outstanding to diluted weighted average units outstanding (in thousands, except per unit amounts). During periods of net loss, no allocation is made to participating securities as the participating securities do not share in losses of the Partnership. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Net (loss) income attributable to unitholders $ (745,835 ) $ 116,187 $ (541,558 ) $ 352,485 Basic: Weighted average units outstanding - basic 153,512 142,088 151,908 141,104 Earnings (loss) per unit - basic $ (4.86 ) $ 0.82 $ (3.57 ) $ 2.50 Diluted: Weighted average units outstanding - basic 153,512 142,088 151,908 141,104 Effect of dilutive securities — 730 — 677 Weighted average units outstanding - diluted 153,512 142,818 151,908 141,781 Earnings (loss) per unit - diluted $ (4.86 ) $ 0.81 $ (3.57 ) $ 2.49

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENTS	16. BUSINESS SEGMENTS We operate and report in three business segments: (i) Domestic Pipelines & Terminals; (ii) Global Marine Terminals; and (iii) Merchant Services. All inter-segment revenues, expenses, operating income, assets and liabilities have been eliminated. Domestic Pipelines & Terminals The Domestic Pipelines & Terminals segment receives liquid petroleum products from refineries, connecting pipelines, vessels, trains, and bulk and marine terminals, transports those products to other locations for a fee, and provides bulk liquid storage and terminal throughput services. The segment also has butane blending capabilities and provides crude oil services, including train loading/unloading, storage and throughput. This segment owns and operates pipeline systems and liquid petroleum products terminals in the continental United States, including three terminals owned by the Merchant Services segment but operated by the Domestic Pipelines & Terminals segment, and two underground propane storage caverns. Additionally, this segment provides turn-key operations and maintenance of third-party pipelines and performs pipeline construction management services typically for cost plus a fixed or variable fee. Global Marine Terminals The Global Marine Terminals segment, including through its interest in VTTI, provides marine accessible bulk storage and blending services, rail and truck rack loading/unloading along with petroleum processing services in the New York Harbor on the East Coast and Corpus Christi, Texas in the Gulf Coast region of the United States, as well as The Bahamas, Puerto Rico and St. Lucia in the Caribbean, Northwest Europe, the Middle East and Southeast Asia. The segment owns and operates, or owns a significant interest in, 22 liquid petroleum product terminals, located in these key domestic and international energy hubs, that enable us to facilitate global flows of crude and refined petroleum products, offer connectivity between supply areas and market centers, and provide premier storage, marine terminalling, blending, and processing services to a diverse customer base. In addition, the segment is expanding its presence in Corpus Christi, Texas through the South Texas Gateway joint venture. See Note 3 for further details. As discussed in Note 1, we expect to divest our equity investment in VTTI in the fourth quarter of 2018. Merchant Services The Merchant Services segment is a wholesale distributor of refined petroleum products, through bulk and rack sales, in the United States and the Caribbean. The segment’s products include gasoline, natural gas liquids, ethanol, biodiesel and petroleum distillates such as heating oil, diesel fuel, kerosene and fuel oil. The segment owns three terminals, which are operated by the Domestic Pipelines & Terminals segment. The segment’s customers consist principally of product wholesalers as well as major commercial users of these refined petroleum products. Financial Information by Segment For the three and nine months ended September 30, 2018 and 2017 , no customer contributed 10% or more of consolidated revenue. The following tables provide information about our revenue types by reportable segment for the periods indicated (in thousands). Prior periods have been disaggregated for comparison purposes. Three Months Ended September 30, 2018 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 127,846 $ — $ — $ (1,938 ) $ 125,908 Terminalling and storage services 106,537 92,948 — (8,251 ) 191,234 Product sales — 5,243 433,156 (1,699 ) 436,700 Other services 12,576 434 1,984 (13 ) 14,981 Total revenue from contracts with customers 246,959 98,625 435,140 (11,901 ) 768,823 Revenue from leases 9,199 42,943 — (142 ) 52,000 Commodity derivative contracts, net 330 — 88,395 — 88,725 Total revenue $ 256,488 $ 141,568 $ 523,535 $ (12,043 ) $ 909,548 Three Months Ended September 30, 2017 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 127,754 $ — $ — $ (4,614 ) $ 123,140 Terminalling and storage services 108,389 112,991 — (7,208 ) 214,172 Product sales — — 351,894 (1,680 ) 350,214 Other services 10,048 2,602 7,786 (145 ) 20,291 Total revenue from contracts with customers 246,191 115,593 359,680 (13,647 ) 707,817 Revenue from leases 9,114 39,688 — (136 ) 48,666 Commodity derivative contracts, net (1,028 ) — 167,164 — 166,136 Total revenue $ 254,277 $ 155,281 $ 526,844 $ (13,783 ) $ 922,619 Nine Months Ended September 30, 2018 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 377,276 $ — $ — $ (7,741 ) $ 369,535 Terminalling and storage services 323,493 294,093 — (26,574 ) 591,012 Product sales — 5,263 1,531,849 (6,941 ) 1,530,171 Other services 35,359 775 6,804 (1,375 ) 41,563 Total revenue from contracts with customers 736,128 300,131 1,538,653 (42,631 ) 2,532,281 Revenue from leases 28,254 128,665 — (142 ) 156,777 Commodity derivative contracts, net (2,579 ) — 344,923 2,090 344,434 Total revenue $ 761,803 $ 428,796 $ 1,883,576 $ (40,683 ) $ 3,033,492 Nine Months Ended September 30, 2017 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 367,510 $ — $ — $ (11,805 ) $ 355,705 Terminalling and storage services 324,028 362,653 — (20,941 ) 665,740 Product sales — 3,891 1,103,055 (6,687 ) 1,100,259 Other services 37,601 3,032 12,316 (1,860 ) 51,089 Total revenue from contracts with customers 729,139 369,576 1,115,371 (41,293 ) 2,172,793 Revenue from leases 29,360 118,037 — (136 ) 147,261 Commodity derivative contracts, net 2,939 — 383,067 (3,967 ) 382,039 Total revenue $ 761,438 $ 487,613 $ 1,498,438 $ (45,396 ) $ 2,702,093 The following table summarizes revenue by major geographic area for the periods indicated (in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Revenue: United States $ 846,390 $ 855,795 $ 2,847,217 $ 2,474,562 International 63,158 66,824 186,275 227,531 Total revenue $ 909,548 $ 922,619 $ 3,033,492 $ 2,702,093 Adjusted EBITDA Adjusted EBITDA is a measure not defined by GAAP. We define Adjusted EBITDA as earnings (losses) before interest expense, income taxes, depreciation and amortization, further adjusted to exclude certain non-cash items, such as non-cash compensation expense; transaction, transition, and integration costs associated with acquisitions; certain gains and losses on foreign currency transactions and foreign currency derivative financial instruments, as applicable; and certain other operating expense or income items, reflected in net income, that we do not believe are indicative of our core operating performance results and business outlook, such as hurricane-related costs, gains and losses on property damage recoveries, non-cash impairment charges, and gains and losses on asset sales. The definition of Adjusted EBITDA is also applied to our proportionate share in the Adjusted EBITDA of significant equity method investments, such as that in VTTI, and is not applied to our less significant equity method investments. The calculation of our proportionate share of the reconciling items used to derive Adjusted EBITDA is based upon our 50% equity interest in VTTI, prior to adjustments related to noncontrolling interests in several of its subsidiaries and partnerships, which are immaterial. Adjusted EBITDA is a non-GAAP financial measure that is used by our senior management, including our Chief Executive Officer, to assess the operating performance of our business and optimize resource allocation. We use Adjusted EBITDA as a primary measure to: (i) evaluate our consolidated operating performance and the operating performance of our business segments; (ii) allocate resources and capital to business segments; (iii) evaluate the viability of proposed projects; and (iv) determine overall rates of return on alternative investment opportunities. We believe that investors benefit from having access to the same financial measures that we use and that these measures are useful to investors because they aid in comparing our operating performance with that of other companies with similar operations. The Adjusted EBITDA data presented by us may not be comparable to similarly titled measures at other companies because these items may be defined differently by other companies. The following table presents net income (loss) on a consolidated basis and a reconciliation of net income, which is the most comparable financial measure under GAAP, to Adjusted EBITDA, as well as Adjusted EBITDA by segment for the periods indicated (in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Reconciliation of Net Income (Loss) to Adjusted EBITDA: Net (loss) income $ (745,336 ) $ 120,224 $ (534,927 ) $ 362,912 Less: Net income attributable to noncontrolling interests (499 ) (4,037 ) (6,631 ) (10,427 ) Net (loss) income attributable to Buckeye Partners, L.P. (745,835 ) 116,187 (541,558 ) 352,485 Add: Interest and debt expense 60,332 56,561 179,003 168,870 Income tax expense 634 448 1,906 1,709 Depreciation and amortization (1) 68,464 65,661 199,171 195,987 Non-cash unit-based compensation expense 4,921 8,176 21,587 25,756 Acquisition and transition expense (2) 21 1,447 444 3,275 Hurricane-related costs, net of recoveries (3) 68 1,804 (744 ) 4,820 Proportionate share of Adjusted EBITDA for the equity method investment in VTTI (4) 32,255 33,430 101,435 90,848 Goodwill impairment 536,964 — 536,964 — Loss (earnings) from the equity method investment in VTTI (4) 295,905 (6,396 ) 286,633 (15,111 ) Less: Gains on property damage recoveries (5) — — (14,535 ) (4,621 ) Adjusted EBITDA $ 253,729 $ 277,318 $ 770,306 $ 824,018 Adjusted EBITDA: Domestic Pipelines & Terminals $ 137,676 $ 138,880 $ 413,648 $ 413,710 Global Marine Terminals 111,692 128,696 349,838 391,084 Merchant Services 4,361 9,742 6,820 19,224 Total Adjusted EBITDA $ 253,729 $ 277,318 $ 770,306 $ 824,018 (1) Includes 100% of the depreciation and amortization expense of $18.5 million and $18.1 million for Buckeye Texas for the three months ended September 30, 2018 and 2017 , respectively, and $54.5 million and $54.1 million for the nine months ended September 30, 2018 and 2017, respectively. In April 2018, we acquired our business partner’s 20% ownership interest in Buckeye Texas and, as a result, own 100% of Buckeye Texas. (2) Represents transaction, internal and third-party costs related to asset acquisition and integration. (3) Represents costs incurred at our BBH facility in the Bahamas, Yabucoa Terminal in Puerto Rico, Corpus Christi facilities in Texas, and certain terminals in Florida, as a result of hurricanes which occurred in 2017 and 2016, consisting of operating expenses and write-offs of damaged long-lived assets, net of insurance recoveries. (4) Due to the significance of our equity method investment in VTTI, effective January 1, 2017, we applied the definition of Adjusted EBITDA, covered in our description of Adjusted EBITDA, with respect to our proportionate share of VTTI’s Adjusted EBITDA. The calculation of our proportionate share of the reconciling items used to derive Adjusted EBITDA is based upon our 50% equity interest in VTTI, prior to adjustments related to noncontrolling interests in several of its subsidiaries and partnerships, which are immaterial. Included in the three and nine months ended September 30, 2018, is a $300.3 million non-cash loss on the anticipated sale of our investment in VTTI as discussed in Note 1. (5) Represents gains on recoveries, which during 2018, settled property damages caused by third parties, primarily related to a 2012 vessel allision with a jetty at our BBH facility in the Bahamas, while in 2017, we settled a 2014 allision with a ship dock at our terminal located in Pennsauken, New Jersey.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	17. SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended 2018 2017 Cash paid for interest (net of capitalized interest) $ 164,714 $ 161,914 Cash paid for income taxes 1,069 1,359 Capitalized interest 6,680 3,445 Non-cash financing activities: Issuance of Class C Units in lieu of quarterly cash distribution $ 18,490 $ — Liabilities related to capital projects outstanding at September 30, 2018 and 2017 of $93.5 million and $51.0 million , respectively, are not included under capital expenditures within the unaudited condensed consolidated statements of cash flows.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Buckeye Partners, L.P. is a publicly traded Delaware master limited partnership (“MLP”), and its limited partner units representing limited partnership interests (“LP Units”) are listed on the New York Stock Exchange under the ticker symbol “BPL.” Buckeye GP LLC (“Buckeye GP”) is our general partner. As used in these Notes to Unaudited Condensed Consolidated Financial Statements, “ we ,” “ us ,” “ our, ” the “ Partnership ” and “ Buckeye ” mean Buckeye Partners, L.P. and, where the context requires, include our subsidiaries. We own and operate, or own a significant interest in, a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. We are one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline. We also use our service expertise to operate and/or maintain third-party pipelines and perform certain engineering and construction services for our customers. Our global terminal network, including through our interest in VTTI B.V. (“VTTI”), comprises more than 135 liquid petroleum products terminals with aggregate tank capacity of over 178 million barrels across our portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States as well as in the Caribbean, Northwest Europe, the Middle East and Southeast Asia. Our global network of marine terminals enables us to facilitate global flows of crude oil and refined petroleum products, offering our customers connectivity between supply areas and market centers through some of the world’s most important bulk liquid storage and blending hubs. Our flagship marine terminal in The Bahamas, Buckeye Bahamas Hub Limited (“BBH”), is one of the largest marine crude oil and refined petroleum products storage facilities in the world and provides an array of logistics and blending services for the global flow of petroleum products. Our Gulf Coast regional hub, Buckeye Texas Partners LLC (“Buckeye Texas”), offers world-class marine terminalling, storage and processing capabilities. Through our 50% equity interest in VTTI, our global terminal network offers premier storage and marine terminalling services for petroleum product logistics in key international energy hubs. We are also a wholesale distributor of refined petroleum products in certain areas served by our pipelines and terminals. As further discussed in the Strategic Review section below, we expect to divest our equity interest in VTTI during the fourth quarter of 2018, subject to normal regulatory approvals.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited condensed consolidated financial statements and the accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, our financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of our results of operations for the interim periods. The unaudited condensed consolidated financial statements include the accounts of our subsidiaries controlled by us and variable interest entities of which we are the primary beneficiary. Intercompany transactions are eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates and assumptions about future events and their effects cannot be made with certainty. Estimates may change as new events occur, when additional information becomes available and if our operating environment changes. Actual results could differ from our estimates. We believe that the disclosures in these unaudited condensed consolidated financial statements are adequate to make the information presented not misleading. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2017 .
Recently Adopted Accounting Guidance/Recent Accounting Guidance Not Yet Adopted	Recently Adopted Accounting Guidance Goodwill Impairment. Effective July 1, 2018, we adopted Accounting Standards Update (“ASU”) ASU 2017-04, which simplifies the accounting for goodwill. The guidance eliminates Step 2 from the goodwill impairment test, which required entities to calculate the implied fair value of a reporting unit’s goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. An impairment charge is now determined by the amount by which the carrying amount of a reporting unit exceeds its fair value up to the amount of goodwill. The guidance is applied using a prospective approach. We applied this standard to the calculation of the goodwill impairment charge referenced above. See Note 8 for further discussion. Revenue from Contracts with Customers. Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), using the modified retrospective transition method, which required us to apply the new standard to (i) all new revenue contracts entered into after January 1, 2018, and (ii) revenue contracts which were not completed as of January 1, 2018. ASC 606 replaces existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which we expect to be entitled in exchange for transferring goods or services to a customer. ASC 606 also requires certain disclosures regarding qualitative and quantitative information with respect to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in a transition adjustment nor did it have a material impact on the timing or amount of our revenue recognition. Please see Note 2 for additional information. Recognition and Measurement of Financial Assets and Liabilities . Effective January 1, 2018, we adopted ASU 2016-01, and it will be applied prospectively. This ASU issued a new standard related to certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most prominent among the changes in this standard is the requirement for changes in the fair value of marketable equity investments, with certain exceptions, to be recognized through net income rather than other comprehensive income (“OCI”). Under the standard, marketable equity investments that do not have a readily determinable fair value are eligible for the measurement alternative. Using the measurement alternative, investments without readily determinable fair values will be valued at cost, with adjustments to fair value for changes in price or impairments reflected through net income. The adoption of this guidance did not have an impact on our unaudited condensed consolidated financial statements. Classification of Certain Cash Receipts and Cash Payments . Effective January 1, 2018, we adopted ASU 2016-15, applying the retrospective transition method. This ASU requires changes in the presentation of certain items, including but not limited to debt prepayment or debt extinguishment costs; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies and distributions received from equity method investees. The adoption of this guidance did not have a material impact on our unaudited condensed consolidated financial statements. Business Combinations . Effective January 1, 2018, we adopted ASU 2017-01, and it will be applied prospectively to future business combinations. This ASU clarifies the definition of a business in order to assist entities with evaluating whether transactions should be accounted for as acquisitions/disposals of assets or businesses. The guidance provides a screen to help entities determine when an integrated set of assets and activities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. If the threshold of the screen is not met, the guidance further clarifies that the set of assets is not a business unless it includes an input and a substantive process that together significantly contribute to the ability to create output. Retirement Benefits . Effective January 1, 2018, we adopted ASU 2017-07, which improves the presentation of net periodic pension and postretirement benefit costs. The interest cost, expected return on plan assets, actuarial loss due to settlements, and the amortization of unrecognized loss have been reclassified from operating expenses to other expense, applying the retrospective transition method. We elected to apply the practical expedient which allows us to reclassify amounts disclosed previously in the retirement benefits note as the basis for applying retrospective presentation for comparative periods as it is impracticable to determine the disaggregation of the cost components for amounts capitalized and amortized in those periods. On a prospective basis, the components of net periodic benefit costs discussed above will not be included in amounts capitalized in property, plant, and equipment. The adoption of this guidance did not have a material impact on our unaudited condensed consolidated financial statements. In connection with the adoption of ASU 2017-07, using the retrospective transition method, we reclassified $0.3 million and $1.0 million of expenses related to our Retirement Income Guarantee Plan and unfunded post-retirement medical benefit plan, originally included in operating expenses for the three and nine months ended September 30, 2017 , respectively, to other expense. Such reclassifications had no impact on net income. Modifications to Share-Based Payment Awards . Effective January 1, 2018, we adopted ASU 2017-09, and it will be applied prospectively to future modifications of our unit-based awards, if any. This guidance clarifies when changes in the terms or conditions of share-based payment awards must be accounted for as modifications under existing guidance. The guidance requires that entities apply modification accounting unless the award’s fair value, vesting conditions and classification as an equity or liability instrument are the same immediately before and after the change. Tax Cuts and Jobs Act . In December 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was passed into law. The Tax Act makes changes to the U.S. tax code including, but not limited to (i) reducing the U.S. federal corporate income tax rate from a top rate of 35% to 21% effective January 1, 2018, (ii) requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that may electively be paid over eight years, and (iii) accelerated first-year expensing of certain capital expenditures. Shortly after the Tax Act was enacted, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) which provides guidance on accounting for the Tax Act’s impact. SAB 118 provides a measurement period, which in no case may extend beyond one year from the Tax Act enactment date, during which an entity acting in good faith may complete the accounting for the impacts of the Tax Act under ASC Topic 740. In accordance with SAB 118, the entity must reflect the income tax effects of the Tax Act in the reporting period in which the accounting under ASC Topic 740 is complete. With the exception of federal and state income taxes from Buckeye Development & Logistics I LLC (“BDL”), the Partnership’s federal and certain state income taxes are the responsibility of the partners and are not reflected in these consolidated financial statements. Accordingly, the Tax Act did not have a material impact on our unaudited condensed consolidated financial statements or on our disclosures. We continue to evaluate certain aspects of the Tax Act and have recorded certain adjustments to our deferred taxes. Recent Accounting Guidance Not Yet Adopted Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-15, which aligns a customer’s accounting for capitalizing implementation costs in a cloud computing service arrangement that is hosted by the vendor with the requirements for capitalizing implementation costs incurred to develop or obtain an internal-use software license. The guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The guidance can be applied prospectively or retrospectively. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures. Changes to the Disclosure Requirements for Defined Benefit Plans. In August 2018, the FASB issued ASU 2018-14, which amends existing guidance on disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The new guidance is effective for fiscal years ending after December 15, 2020, with early adoption permitted. The new guidance requires retrospective application. We expect to adopt this standard effective January 1, 2021 and are currently evaluating the impact that it will have on our disclosures. Changes to the Disclosure Requirements for Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13, which amends existing guidance on disclosure requirements for fair value measurements. The new guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. The new guidance requires prospective application on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty. The effects of other amendments must be applied retrospectively to all periods presented. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that it will have on our disclosures. Improvements to Nonemployee Share-Based Payment Accounting. In May 2018, the FASB issued ASU 2018-07, which conformed the current nonemployee share-based accounting with employee share-based accounting. The new standard is effective as of January 1, 2019 with early adoption permitted. We expect to adopt this standard effective January 1, 2019 and do not believe that our adoption of this guidance will have a material impact on our consolidated financial statements and disclosures. Derivatives and Hedging . In August 2017, the FASB issued ASU 2017-12, which amends and simplifies existing guidance in order to improve the financial reporting of hedging relationships to better align risk management activities in financial statements and make targeted improvements to simplify the application of current guidance related to the assessment of hedge effectiveness. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early application permitted. The new guidance requires prospective application, with a cumulative effect adjustment to the beginning balance of partners’ capital for existing hedging relationships. We will adopt this standard effective January 1, 2019 and are currently evaluating the impact that it will have on our consolidated financial statements and disclosures. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued ASU 2016-13, which replaces the current incurred loss impairment method with a method that reflects expected credit losses on financial instruments. The new standard is effective as of January 1, 2020, and early adoption is permitted as of January 1, 2019. We expect to adopt this standard effective January 1, 2020 and are currently evaluating the impact that the adoption of this standard will have on our consolidated financial statements and disclosures. Leases . In February 2016, the FASB issued ASU 2016-02, as amended by subsequent accounting standard updates (collectively, “Topic 842”), requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for leases with lease terms greater than twelve months, in addition to enhanced disclosure requirements. Topic 842, through an alternative transition method, permits an entity to adopt the provisions of ASU 2016-02 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjustment to the financial statements for periods prior to adoption. Consequently, an entity’s reporting for the comparative periods presented in the financial statements in which it adopts the new leases standard will continue to be in accordance with the previous lease guidance in ASC Topic 840 “ Leases. ” ASU 2018-11 also allows a practical expedient that permits lessors to not separate non-lease components from the associated lease component if certain conditions are present. In January 2018, the FASB issued ASU 2018-01, permitting an entity to elect a transition practical expedient to not apply the provisions of ASU 2016-02 to land easements that existed or expired before the effective date of ASU 2016-02 and that were not previously accounted for as leases under the previous lease guidance in ASC Topic 840 “ Leases. ” In July 2018, the FASB issued update ASU 2018-10 that provides narrow-scope improvements to the new standard including clarification on reassessment, change in reference index or rate, and periods included in the lease term. ASU 2016-02 also provides an election for a package of practical expedients which permits an entity to not reassess whether any expired or existing contracts contain leases, the classification of the lease, and any initial direct costs. We expect to apply these practical expedients as part of our adoption. Our project team continues to (i) evaluate the provisions of the standard; (ii) assess and implement changes to business processes and controls; and (iii) evaluate the impact the adoption of this guidance will have on our consolidated financial statements, including disclosures. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2018 and interim periods within those annual periods, with early adoption permitted. We will adopt this guidance effective January 1, 2019, and expect the most significant impact of the new standard will be the recognition of right-of-use assets and lease liabilities as part of our consolidated balance sheet upon adoption.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about receivables from contracts with customers, contract assets and contract liabilities (in thousands): September 30, December 31, 2017 Receivables from contracts with customers $ 224,690 $ 245,280 Contract assets 23,942 13,999 Contract liabilities (24,386 ) (15,778 )
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table includes estimated revenue associated with contractual commitments in place related to future performance obligations as of the end of the reporting period, which are expected to be recognized in revenue in the specified periods (in thousands): Estimated Revenue (1) Remainder of 2018 $ 109,664 2019 288,367 2020 187,766 2021 115,247 Thereafter 232,653 Total $ 933,697 (1) Excludes revenue arrangements accounted for as leases in the amount of $52.0 million for the remainder of 2018, $201.8 million for 2019, $194.2 million for 2020, $175.9 million for 2021, and $173.6 million thereafter.

ACQUISITIONS AND INVESTMENTS (T

ACQUISITIONS AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of purchase price allocated to tangible and intangible assets acquired and liabilities assumed	The purchase price has been allocated to tangible and intangible assets acquired as follows (in thousands): Current assets, including cash acquired of $2,444 $ 8,989 Property, plant and equipment 18,306 Intangible assets 2,200 Goodwill 2,812 Current liabilities (3,516 ) Environmental liabilities (300 ) Allocated purchase price $ 28,491

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of inventory	Our inventory amounts were as follows at the dates indicated (in thousands): September 30, December 31, Liquid petroleum products (1) $ 173,659 $ 280,934 Materials and supplies 23,857 20,491 Total inventories $ 197,516 $ 301,425 (1) Ending inventory was 75.7 million and 142.1 million gallons of liquid petroleum products as of September 30, 2018 and December 31, 2017 , respectively.

PREPAID AND OTHER CURRENT ASS_2

PREPAID AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of prepaid and other current assets	Prepaid and other current assets consist of the following at the dates indicated (in thousands): September 30, December 31, Prepaid insurance $ 11,882 $ 7,146 Margin deposits 5,254 7,989 Contract assets 23,942 13,999 Prepaid taxes 7,890 2,865 Other 16,261 4,340 Total prepaid and other current assets $ 65,229 $ 36,339

EQUITY INVESTMENTS (Tables)

EQUITY INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Earnings (losses) from equity investments	The following table presents earnings (loss) from equity investments for the periods indicated (in thousands): Three Months Ended Nine Months Ended Segment 2018 2017 2018 2017 VTTI B.V. Global Marine Terminals $ 4,375 $ 6,396 $ 13,647 $ 15,111 Non-cash loss on write-down of investment in VTTI B.V. (1) Global Marine Terminals (300,280 ) — (300,280 ) — West Shore Pipe Line Company Domestic Pipelines & Terminals 2,750 1,772 7,542 4,913 Muskegon Pipeline LLC Domestic Pipelines & Terminals 353 501 1,109 1,303 Transport4, LLC Domestic Pipelines & Terminals 164 206 614 650 South Portland Terminal LLC Domestic Pipelines & Terminals 502 357 1,162 733 South Texas Gateway Terminal LLC (2) Global Marine Terminals (251 ) — (427 ) — Total (loss) earnings from equity investments $ (292,387 ) $ 9,232 $ (276,633 ) $ 22,710 (1) As discussed in the Strategic Review section of Note 1, we recorded a non-cash loss related to the anticipated sale of our equity investment in VTTI during the three months ended September 30, 2018 . (2) In April 2018, we formed the STG Terminal joint venture. For additional information, see Note 3.
Summary of combined income statement data for equity method investments	Summarized combined income statement data for our equity method investments are as follows for the periods indicated (amounts represent 100% of investee income statement data in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Revenue $ 145,137 $ 143,946 $ 435,827 $ 403,985 Operating income 42,637 52,766 132,446 138,195 Net income 24,262 30,874 75,394 84,807 Net income attributable to investee 22,748 23,565 70,877 63,347

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reporting unit are as follows at the dates indicated (in thousands): Domestic Pipelines & Terminals Merchant Services GMT Caribbean and NYH GMT South Texas Total December 31, 2017 $ 298,471 $ 4,499 $ 536,964 $ 167,379 $ 1,007,313 Purchase price adjustments 44 — — — 44 Impairment of goodwill — — (536,964 ) — (536,964 ) September 30, 2018 298,515 4,499 — 167,379 470,393

OTHER NON-CURRENT ASSETS (Table

OTHER NON-CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other non-current assets	Other non-current assets consist of the following at the dates indicated (in thousands): September 30, December 31, Debt issuance costs, net $ 2,418 $ 3,022 Insurance receivables related to environmental remediation reserves 2,051 2,794 BBH jetty-allision insurance receivable — 7,372 Other 33,244 38,295 Total other non-current assets $ 37,713 $ 51,483

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of commodity derivative instruments outstanding	The following table summarizes the notional volumes of the net long (short) positions of our commodity derivative instruments outstanding at September 30, 2018 (amounts in thousands of gallons): Volume Derivative Purpose Current Long-Term Derivatives NOT designated as hedging instruments: Physical fixed-price derivative contracts (19,530 ) (82 ) Physical index derivative contracts 13,762 — Futures contracts for refined petroleum products 8,549 168 Hedge Type Derivatives designated as hedging instruments: Futures contracts for refined petroleum products (71,778 ) — Fair Value Hedge
Fair value of each classification of derivative instrument and their location in the unaudited consolidated balance sheet	The following table sets forth the fair value of each classification of derivative instruments and the derivative instruments’ location on our unaudited condensed consolidated balance sheets at the dates indicated (in thousands): September 30, 2018 Derivatives NOT Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivative Carrying Value Netting Balance Sheet Adjustment (1) Net Total Physical fixed-price derivative contracts $ 443 $ — $ 443 $ (28 ) $ 415 Physical index derivative contracts 170 — 170 (12 ) 158 Interest rate derivative contracts — 59,733 59,733 — 59,733 Total current derivative assets 613 59,733 60,346 (40 ) 60,306 Physical fixed-price derivative contracts — — — — — Total non-current derivative assets — — — — — Physical fixed-price derivative contracts (5,778 ) — (5,778 ) 28 (5,750 ) Physical index derivative contracts (19 ) — (19 ) 12 (7 ) Total current derivative liabilities (5,797 ) — (5,797 ) 40 (5,757 ) Physical fixed-price derivative contracts (9 ) — (9 ) — (9 ) Total non-current derivative liabilities (9 ) — (9 ) — (9 ) Net derivative (liabilities) assets $ (5,193 ) $ 59,733 $ 54,540 $ — $ 54,540 (1) Amounts represent the netting of physical fixed price and index contracts’ assets and liabilities when a legal right of offset exists. December 31, 2017 Derivatives NOT Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivative Carrying Value Netting Balance Sheet Adjustment (1) Net Total Physical fixed-price derivative contracts $ 2,582 $ — $ 2,582 $ (63 ) $ 2,519 Physical index derivative contracts 455 — 455 (9 ) 446 Interest rate derivative contracts — 31,994 31,994 — 31,994 Total current derivative assets 3,037 31,994 35,031 (72 ) 34,959 Total non-current derivative assets — — — — — Physical fixed-price derivative contracts (7,226 ) — (7,226 ) 63 (7,163 ) Physical index derivative contracts (18 ) — (18 ) 9 (9 ) Total current derivative liabilities (7,244 ) — (7,244 ) 72 (7,172 ) Total non-current derivative liabilities — — — — — Net derivative (liabilities) assets $ (4,207 ) $ 31,994 $ 27,787 $ — $ 27,787 (1) Amounts represent the netting of physical fixed price and index contracts’ assets and liabilities when a legal right of offset exists.
Gains and losses on derivative instruments recognized in income	The gains and losses on our derivative instruments recognized in income were as follows for the periods indicated (in thousands): Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives NOT designated as hedging instruments: Physical fixed-price derivative contracts Product sales $ (3,887 ) $ (7,209 ) $ (4,192 ) $ (257 ) Physical index derivative contracts Product sales 123 57 283 58 Physical fixed-price derivative contracts Cost of product sales 697 1,462 644 1,380 Physical index derivative contracts Cost of product sales 53 115 479 453 Futures contracts for refined products Cost of product sales 2,493 15,861 (2,070 ) 15,061 Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives designated as fair value hedging instruments: Futures contracts for refined products Cost of product sales $ (8,049 ) $ (51,093 ) $ (12,355 ) $ 1,758 Physical inventory - hedged items Cost of product sales 7,214 48,236 10,754 7,536 Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Ineffectiveness excluding the time value component on fair value hedging instruments: Fair value hedge ineffectiveness (excluding time value) Cost of product sales $ 1,196 $ (3,299 ) $ 1,000 $ (5,929 ) Time value excluded from hedge assessment Cost of product sales (2,031 ) 442 (2,601 ) 15,223
(Loss) gain recognized in OCI and gains (losses) reclassified from AOCI to income	The change in value recognized in OCI and the losses reclassified from AOCI to income, attributable to our derivative instruments designated as cash flow hedges, were as follows for the periods indicated (in thousands): Gain (Loss) Recognized in OCI on Derivatives for the Three Months Ended Nine Months Ended 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments: Interest rate derivative contracts $ 7,322 $ (2,207 ) $ 27,739 $ (12,670 ) Commodity derivatives (193 ) (3,557 ) 2,464 675 Total $ 7,129 $ (5,764 ) $ 30,203 $ (11,995 ) Loss Reclassified from AOCI to Income (Effective Portion) for the Three Months Ended Nine Months Ended Location 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments: Interest rate derivative contracts Interest and debt expense $ (2,296 ) $ (3,038 ) $ (6,928 ) $ (9,113 ) Total $ (2,296 ) $ (3,038 ) $ (6,928 ) $ (9,113 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on a recurring basis	The following table sets forth financial assets and liabilities measured at fair value on a recurring basis, as of the measurement dates indicated, and the basis for that measurement, by level within the fair value hierarchy (in thousands): September 30, 2018 December 31, 2017 Level 1 Level 2 Level 1 Level 2 Financial assets: Physical fixed-price derivative contracts $ — $ 443 $ — $ 2,582 Physical index derivative contracts — 170 — 455 Interest rate derivatives — 59,733 — 31,994 Financial liabilities: Physical fixed-price derivative contracts — (5,787 ) — (7,226 ) Physical index derivative contracts — (19 ) — (18 ) Futures contracts for refined products — — — — Fair value $ — $ 54,540 $ — $ 27,787
Carrying value and fair value using level 2 inputs of debt	The carrying value and fair value of our debt, using Level 2 input values, were as follows at the dates indicated (in thousands): September 30, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Fixed-rate debt $ 3,945,363 $ 3,862,064 $ 4,241,963 $ 4,384,336 Variable-rate debt 1,218,038 1,222,621 668,562 668,904 Total debt $ 5,163,401 $ 5,084,685 $ 4,910,525 $ 5,053,240

UNIT-BASED COMPENSATION PLANS (

UNIT-BASED COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Awards activity under the LTIP	The following table sets forth the LTIP activity for the periods indicated (in thousands, except per unit amounts): Number of LP Units Weighted Average Grant Date Fair Value per LP Unit (1) Unvested at January 1, 2018 1,450 $ 64.04 Granted (2) 643 51.47 Performance adjustment (3) 39 73.17 Vested (401 ) 72.53 Forfeited (33 ) 58.98 Unvested at September 30, 2018 1,698 $ 57.52 (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. The weighted-average grant date fair value per LP Unit for forfeited and vested awards is determined before an allowance for forfeitures. (2) Includes both phantom and performance awards. Performance awards are granted at a target amount but, depending on our performance during the vesting period with respect to certain pre-established goals, the number of LP Units issued upon vesting of such performance awards can be greater or less than the target amount. (3) Represents the LP Units issued in excess of target amounts for performance awards that vested during the nine months ended September 30, 2018 as a result of our above target performance with respect to applicable performance goals.

PARTNERS' CAPITAL AND DISTRIB_2

PARTNERS' CAPITAL AND DISTRIBUTIONS (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Summary of changes in LP units outstanding	The following is a summary of changes in Buckeye ’ s outstanding LP Units and Class C Units for the periods indicated (in thousands): LP Units Class C Units (2) Total Units outstanding at January 1, 2018 146,677 — 146,677 LP units issued pursuant to the LTIP (1) 272 — 272 Issuance of Class C Units — 6,221 6,221 Issuance of Class C Units in lieu of quarterly cash distributions — 494 494 Units outstanding at September 30, 2018 146,949 6,715 153,664 (1) The number of LP Units issued represents issuance net of tax withholding. (2) The Class C Units will convert to LP Units on November 5, 2018, as discussed above.

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Reconciliation of weighted average units outstanding used in computing basic and diluted earnings per unit	The following tables set forth the calculation of basic and diluted earnings (loss) per unit, attributable to Buckeye’s unitholders (including LP Units and Class C Units), taking into consideration net income allocable to participating securities, as well as the reconciliation of basic weighted average units outstanding to diluted weighted average units outstanding (in thousands, except per unit amounts). During periods of net loss, no allocation is made to participating securities as the participating securities do not share in losses of the Partnership. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Net (loss) income attributable to unitholders $ (745,835 ) $ 116,187 $ (541,558 ) $ 352,485 Basic: Weighted average units outstanding - basic 153,512 142,088 151,908 141,104 Earnings (loss) per unit - basic $ (4.86 ) $ 0.82 $ (3.57 ) $ 2.50 Diluted: Weighted average units outstanding - basic 153,512 142,088 151,908 141,104 Effect of dilutive securities — 730 — 677 Weighted average units outstanding - diluted 153,512 142,818 151,908 141,781 Earnings (loss) per unit - diluted $ (4.86 ) $ 0.81 $ (3.57 ) $ 2.49

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Disaggregation of revenue	The following tables provide information about our revenue types by reportable segment for the periods indicated (in thousands). Prior periods have been disaggregated for comparison purposes. Three Months Ended September 30, 2018 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 127,846 $ — $ — $ (1,938 ) $ 125,908 Terminalling and storage services 106,537 92,948 — (8,251 ) 191,234 Product sales — 5,243 433,156 (1,699 ) 436,700 Other services 12,576 434 1,984 (13 ) 14,981 Total revenue from contracts with customers 246,959 98,625 435,140 (11,901 ) 768,823 Revenue from leases 9,199 42,943 — (142 ) 52,000 Commodity derivative contracts, net 330 — 88,395 — 88,725 Total revenue $ 256,488 $ 141,568 $ 523,535 $ (12,043 ) $ 909,548 Three Months Ended September 30, 2017 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 127,754 $ — $ — $ (4,614 ) $ 123,140 Terminalling and storage services 108,389 112,991 — (7,208 ) 214,172 Product sales — — 351,894 (1,680 ) 350,214 Other services 10,048 2,602 7,786 (145 ) 20,291 Total revenue from contracts with customers 246,191 115,593 359,680 (13,647 ) 707,817 Revenue from leases 9,114 39,688 — (136 ) 48,666 Commodity derivative contracts, net (1,028 ) — 167,164 — 166,136 Total revenue $ 254,277 $ 155,281 $ 526,844 $ (13,783 ) $ 922,619 Nine Months Ended September 30, 2018 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 377,276 $ — $ — $ (7,741 ) $ 369,535 Terminalling and storage services 323,493 294,093 — (26,574 ) 591,012 Product sales — 5,263 1,531,849 (6,941 ) 1,530,171 Other services 35,359 775 6,804 (1,375 ) 41,563 Total revenue from contracts with customers 736,128 300,131 1,538,653 (42,631 ) 2,532,281 Revenue from leases 28,254 128,665 — (142 ) 156,777 Commodity derivative contracts, net (2,579 ) — 344,923 2,090 344,434 Total revenue $ 761,803 $ 428,796 $ 1,883,576 $ (40,683 ) $ 3,033,492 Nine Months Ended September 30, 2017 Domestic Pipelines & Terminals Global Marine Terminals Merchant Services Intersegment Eliminations Total Revenue from contracts with customers Pipeline transportation $ 367,510 $ — $ — $ (11,805 ) $ 355,705 Terminalling and storage services 324,028 362,653 — (20,941 ) 665,740 Product sales — 3,891 1,103,055 (6,687 ) 1,100,259 Other services 37,601 3,032 12,316 (1,860 ) 51,089 Total revenue from contracts with customers 729,139 369,576 1,115,371 (41,293 ) 2,172,793 Revenue from leases 29,360 118,037 — (136 ) 147,261 Commodity derivative contracts, net 2,939 — 383,067 (3,967 ) 382,039 Total revenue $ 761,438 $ 487,613 $ 1,498,438 $ (45,396 ) $ 2,702,093
Summary of revenue for continuing operations by major geographic area	The following table summarizes revenue by major geographic area for the periods indicated (in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Revenue: United States $ 846,390 $ 855,795 $ 2,847,217 $ 2,474,562 International 63,158 66,824 186,275 227,531 Total revenue $ 909,548 $ 922,619 $ 3,033,492 $ 2,702,093
Adjusted EBITDA by segment and Reconciliation of Net Income to Adjusted EBITDA	The following table presents net income (loss) on a consolidated basis and a reconciliation of net income, which is the most comparable financial measure under GAAP, to Adjusted EBITDA, as well as Adjusted EBITDA by segment for the periods indicated (in thousands): Three Months Ended Nine Months Ended 2018 2017 2018 2017 Reconciliation of Net Income (Loss) to Adjusted EBITDA: Net (loss) income $ (745,336 ) $ 120,224 $ (534,927 ) $ 362,912 Less: Net income attributable to noncontrolling interests (499 ) (4,037 ) (6,631 ) (10,427 ) Net (loss) income attributable to Buckeye Partners, L.P. (745,835 ) 116,187 (541,558 ) 352,485 Add: Interest and debt expense 60,332 56,561 179,003 168,870 Income tax expense 634 448 1,906 1,709 Depreciation and amortization (1) 68,464 65,661 199,171 195,987 Non-cash unit-based compensation expense 4,921 8,176 21,587 25,756 Acquisition and transition expense (2) 21 1,447 444 3,275 Hurricane-related costs, net of recoveries (3) 68 1,804 (744 ) 4,820 Proportionate share of Adjusted EBITDA for the equity method investment in VTTI (4) 32,255 33,430 101,435 90,848 Goodwill impairment 536,964 — 536,964 — Loss (earnings) from the equity method investment in VTTI (4) 295,905 (6,396 ) 286,633 (15,111 ) Less: Gains on property damage recoveries (5) — — (14,535 ) (4,621 ) Adjusted EBITDA $ 253,729 $ 277,318 $ 770,306 $ 824,018 Adjusted EBITDA: Domestic Pipelines & Terminals $ 137,676 $ 138,880 $ 413,648 $ 413,710 Global Marine Terminals 111,692 128,696 349,838 391,084 Merchant Services 4,361 9,742 6,820 19,224 Total Adjusted EBITDA $ 253,729 $ 277,318 $ 770,306 $ 824,018 (1) Includes 100% of the depreciation and amortization expense of $18.5 million and $18.1 million for Buckeye Texas for the three months ended September 30, 2018 and 2017 , respectively, and $54.5 million and $54.1 million for the nine months ended September 30, 2018 and 2017, respectively. In April 2018, we acquired our business partner’s 20% ownership interest in Buckeye Texas and, as a result, own 100% of Buckeye Texas. (2) Represents transaction, internal and third-party costs related to asset acquisition and integration. (3) Represents costs incurred at our BBH facility in the Bahamas, Yabucoa Terminal in Puerto Rico, Corpus Christi facilities in Texas, and certain terminals in Florida, as a result of hurricanes which occurred in 2017 and 2016, consisting of operating expenses and write-offs of damaged long-lived assets, net of insurance recoveries. (4) Due to the significance of our equity method investment in VTTI, effective January 1, 2017, we applied the definition of Adjusted EBITDA, covered in our description of Adjusted EBITDA, with respect to our proportionate share of VTTI’s Adjusted EBITDA. The calculation of our proportionate share of the reconciling items used to derive Adjusted EBITDA is based upon our 50% equity interest in VTTI, prior to adjustments related to noncontrolling interests in several of its subsidiaries and partnerships, which are immaterial. Included in the three and nine months ended September 30, 2018, is a $300.3 million non-cash loss on the anticipated sale of our investment in VTTI as discussed in Note 1. (5) Represents gains on recoveries, which during 2018, settled property damages caused by third parties, primarily related to a 2012 vessel allision with a jetty at our BBH facility in the Bahamas, while in 2017, we settled a 2014 allision with a ship dock at our terminal located in Pennsauken, New Jersey.

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flows and non-cash transactions	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Nine Months Ended 2018 2017 Cash paid for interest (net of capitalized interest) $ 164,714 $ 161,914 Cash paid for income taxes 1,069 1,359 Capitalized interest 6,680 3,445 Non-cash financing activities: Issuance of Class C Units in lieu of quarterly cash distribution $ 18,490 $ —

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Details) $ / shares in Units, mi in Thousands, $ in Thousands, bbl in Millions	Nov. 20, 2018USD ($)	Nov. 02, 2018$ / shares	Nov. 01, 2018USD ($)	Sep. 30, 2018USD ($)shares	Jun. 30, 2018$ / shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)terminalmisharesbbl	Sep. 30, 2017USD ($)	Dec. 31, 2017shares	Jan. 31, 2017
Investment [Line Items]
Length of refined petroleum products pipelines (in miles) | mi							6
Number of terminals | terminal							135
Storage capacity of refined petroleum product terminals (in bbl) | bbl							178
Impairment of equity method investment in VTTI				$ 300,300
Actual cash distributions							$ 558,135	$ 529,169
Goodwill impairment				$ 536,964		$ 0	$ 536,964	0
ASU 2017-07
Investment [Line Items]
Decrease in operating expenses						300		1,000
Increase in other expense						$ 200		700
Non-Integrated Domestic Pipeline and Terminal Assets | Subsequent event
Investment [Line Items]
Proceeds from sale of assets			$ 450,000
Gain on disposal of assets			350,000
Limited Partner Units
Investment [Line Items]
Cash distributions declared (in dollars per share) | $ / shares					$ 1.2625
Limited Partners, units outstanding | shares				146,949,101			146,949,101		146,677,459
Actual cash distributions							$ 560,200	$ 531,400
Limited Partner Units | Subsequent event
Investment [Line Items]
Cash distributions declared (in dollars per share) | $ / shares		$ 0.75
Class C Units
Investment [Line Items]
Limited Partners, units outstanding | shares				6,714,963			6,714,963		0
Forecast | Limited Partner Units
Investment [Line Items]
Actual cash distributions	$ 116,000
GMT Caribbean and NYH
Investment [Line Items]
Goodwill impairment				$ 537,000			$ 536,964
VTTI B.V.
Investment [Line Items]
Ownership percentage				50.00%			50.00%			50.00%
VTTI B.V. | Subsequent event
Investment [Line Items]
Proceeds from sale of investment			$ 975,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Receivables from contracts with customers	$ 224,690	$ 224,690	$ 245,280
Contract assets	23,942	23,942	13,999
Contract liabilities	(24,386)	(24,386)	$ (15,778)
Reclassified to receivables	(100)	(13,900)
Amounts included in deferred revenue	$ (800)	$ (7,400)

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Performance Obligations (Details) $ in Thousands	Sep. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 109,664
Remaining performance obligation, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 288,367
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 187,766
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 115,247
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 232,653
Remaining performance obligation, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 933,697
Leasing arrangement | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	52,000
Leasing arrangement | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	201,800
Leasing arrangement | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	194,200
Leasing arrangement | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	175,900
Leasing arrangement | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 173,600

ACQUISITIONS AND INVESTMENTS -

ACQUISITIONS AND INVESTMENTS - Narrative (Details) $ in Thousands, bbl in Millions	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2018USD ($)bbl	Dec. 31, 2017USD ($)continent	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Sep. 30, 2018USD ($)terminal	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)continentterminalbbl	Jan. 31, 2017
Business Acquisition [Line Items]
Capital expenditures					$ 93,500	$ 51,000
Acquisition working capital settlement					$ 895	$ 0
Number of terminals | terminal					135
Buckeye Texas Partners LLC
Business Acquisition [Line Items]
Percentage of interest acquired	20.00%
Consideration for business acquisition	$ 210,000
Duck Island Terminal Inc.
Business Acquisition [Line Items]
Consideration for business acquisition		$ 26,100
Cash acquired		$ 2,400
Acquisition working capital settlement				$ 900
VTTI Acquisition
Business Acquisition [Line Items]
Cash consideration							$ 1,150,000
VTTI Energy Partners LP
Business Acquisition [Line Items]
Cash consideration							$ 236,800
Percent of consideration							50.00%
VTTI B.V.
Business Acquisition [Line Items]
Product storage capacity (in bbl) | bbl							60
Number of terminals | terminal							15
Number of continents | continent		5					5
Buckeye Texas Partners LLC
Business Acquisition [Line Items]
Ownership percentage	100.00%				100.00%
Joint Venture
Business Acquisition [Line Items]
Ownership percentage	50.00%
Product storage capacity (in bbl) | bbl	5.1
Additional product storage capacity (in bbl) | bbl	1.7
Initial product storage capacity (in bbl) | bbl	3.4
Construction cost basis	100.00%
Capital expenditures	$ 413,400		$ 28,400
Joint Venture | Phillips 66 Partners LP
Business Acquisition [Line Items]
Ownership percentage	25.00%
Joint Venture | Marathon
Business Acquisition [Line Items]
Ownership percentage	25.00%
VTTI B.V.
Business Acquisition [Line Items]
Ownership percentage					50.00%			50.00%
Funding Of Construction Costs | Joint Venture
Business Acquisition [Line Items]
Commitment			$ 206,700

ACQUISITIONS AND INVESTMENTS _2

ACQUISITIONS AND INVESTMENTS - Purchase Price Allocation to Tangible and Intangible Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 470,393	$ 1,007,313
Duck Island Terminal Inc.
Business Acquisition [Line Items]
Current assets, including cash acquired of $2,444		8,989
Property, plant and equipment		18,306
Intangible assets		2,200
Goodwill		2,812
Current liabilities		(3,516)
Environmental liabilities		(300)
Allocated purchase price		28,491
Cash acquired		$ 2,444

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Environmental Contingencies (Details) - Environmental remediation unrelated to claims and legal proceedings - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure
Environmental remediation liabilities	$ 45.4	$ 41
Receivables related to environmental remediation expenditures covered by insurance or third party claims	$ 4.4	$ 5.3

INVENTORIES (Details)

INVENTORIES (Details) $ in Thousands, gal in Millions	Sep. 30, 2018USD ($)gal	Dec. 31, 2017USD ($)gal
Inventory Disclosure [Abstract]
Liquid petroleum products	$ 173,659	$ 280,934
Materials and supplies	23,857	20,491
Total inventories	$ 197,516	$ 301,425
Refined petroleum products (in gallons) | gal	75.7	142.1
Percentage of hedged refined petroleum products inventory	95.00%	85.00%

PREPAID AND OTHER CURRENT ASS_3

PREPAID AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid insurance	$ 11,882	$ 7,146
Margin deposits	5,254	7,989
Contract assets	23,942	13,999
Prepaid taxes	7,890	2,865
Other	16,261	4,340
Total prepaid and other current assets	$ 65,229	$ 36,339

EQUITY INVESTMENTS - Equity Inv

EQUITY INVESTMENTS - Equity Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity investments
Total (loss) earnings from equity investments	$ (292,387)	$ 9,232	$ (276,633)	$ 22,710
Non-cash loss on write-down of investment in VTTI B.V.	(300,300)
VTTI B.V.
Equity investments
Total (loss) earnings from equity investments	(295,905)	6,396	(286,633)	15,111
Global Marine Terminals | VTTI B.V.
Equity investments
Total (loss) earnings from equity investments	4,375	6,396	13,647	15,111
Non-cash loss on write-down of investment in VTTI B.V.	(300,280)	0	(300,280)	0
Global Marine Terminals | South Texas Gateway Terminal LLC
Equity investments
Total (loss) earnings from equity investments	(251)	0	(427)	0
Domestic Pipelines & Terminals | West Shore Pipe Line Company
Equity investments
Total (loss) earnings from equity investments	2,750	1,772	7,542	4,913
Domestic Pipelines & Terminals | Muskegon Pipeline LLC
Equity investments
Total (loss) earnings from equity investments	353	501	1,109	1,303
Domestic Pipelines & Terminals | Transport4, LLC
Equity investments
Total (loss) earnings from equity investments	164	206	614	650
Domestic Pipelines & Terminals | South Portland Terminal LLC
Equity investments
Total (loss) earnings from equity investments	$ 502	$ 357	$ 1,162	$ 733

EQUITY INVESTMENTS - Income Fro

EQUITY INVESTMENTS - Income From Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Representation of investee financial information in the summarized equity method investments (as a percent)			100.00%
INCOME STATEMENT DATA:
Revenue	$ 145,137	$ 143,946	$ 435,827	$ 403,985
Operating income	42,637	52,766	132,446	138,195
Net income	24,262	30,874	75,394	84,807
Net income attributable to investee	$ 22,748	$ 23,565	$ 70,877	$ 63,347

GOODWILL (Details)

GOODWILL (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill [Line Items]
Goodwill impairment	$ 0		$ 0
Impairment of equity method investment in VTTI	300,300,000
Goodwill [Roll Forward]
Goodwill			1,007,313,000
Purchase price adjustments			44,000
Impairment of goodwill	(536,964,000)	$ 0	(536,964,000)	$ 0
Goodwill	470,393,000		470,393,000
Domestic Pipelines & Terminals
Goodwill [Roll Forward]
Goodwill			298,471,000
Purchase price adjustments			44,000
Impairment of goodwill			0
Goodwill	298,515,000		298,515,000
Merchant Services
Goodwill [Roll Forward]
Goodwill			4,499,000
Purchase price adjustments			0
Impairment of goodwill			0
Goodwill	4,499,000		4,499,000
GMT Caribbean and NYH
Goodwill [Roll Forward]
Goodwill			536,964,000
Purchase price adjustments			0
Impairment of goodwill	(537,000,000)		(536,964,000)
Goodwill	0		0
GMT South Texas
Goodwill [Roll Forward]
Goodwill			167,379,000
Purchase price adjustments			0
Impairment of goodwill			0
Goodwill	$ 167,379,000		$ 167,379,000

OTHER NON-CURRENT ASSETS (Detai

OTHER NON-CURRENT ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Debt issuance costs, net	$ 2,418	$ 3,022
Insurance receivables related to environmental remediation reserves	2,051	2,794
BBH jetty-allision insurance receivable	0	7,372
Other	33,244	38,295
Total other non-current assets	$ 37,713	$ 51,483

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)	1 Months Ended
	Jan. 31, 2018	Sep. 30, 2018
Junior Subordinated Debt
Debt instrument
Interest rate percentage	6.375%
Face amount	$ 400,000,000
Proceeds from issuance of debt	394,900,000
Revolving Credit Facility
Debt instrument
Borrowing capacity		$ 1,500,000,000
Long-term debt		$ 572,600,000
Weighted average interest rate		4.60%
Revolving Credit Facility | Line of Credit
Debt instrument
Additional borrowing capacity		$ 924,300,000
6.050% Notes Due January 2018
Debt instrument
Principal amount repaid	300,000,000
Accrued interest amount repaid	$ 9,100,000
Interest rate percentage	6.05%
2.650% Notes due November 2018
Debt instrument
Interest rate percentage		2.65%
Long-term debt		$ 400,000,000
5.500% Notes Due August 2019
Debt instrument
Interest rate percentage		5.50%
Long-term debt		$ 275,000,000
Variable Rate Term Loan
Debt instrument
Long-term debt		$ 250,000,000
LIBOR | Junior Subordinated Debt
Debt instrument
Variable rate	4.02%

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)instrument
Interest Rate Swap Entered Into In Anticipation of Debt Due November 2018
Derivative [Line Items]
Number of instruments entered into | instrument						11
Notional amount						$ 500,000,000
Settled Forward-Starting Interest Rate Swaps
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months			$ (11,200,000)
Interest rate derivative contracts
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months			(4,500,000)
Forward-Starting Interest Rate Swaps
Derivative [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months			6,700,000
2.650% Notes Due November 2018 | Notes Payable
Derivative [Line Items]
Face amount					$ 400,000,000
Interest rate percentage					2.65%
Cash Flow Hedge
Derivative [Line Items]
Gain recognized in OCI on derivatives	$ 7,129,000	$ (5,764,000)	30,203,000	$ (11,995,000)
Cash Flow Hedge | Interest rate derivative contracts
Derivative [Line Items]
Gain recognized in OCI on derivatives	7,322,000	(2,207,000)	27,739,000	(12,670,000)
Cash Flow Hedge | Commodity derivatives
Derivative [Line Items]
Gain recognized in OCI on derivatives	$ (193,000)	$ (3,557,000)	$ 2,464,000	$ 675,000

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Commodity Derivative Instruments (Details) gal in Thousands	9 Months Ended
	Sep. 30, 2018gal
Short | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts | Current
Derivative Instruments And Hedging Activities
Volume (in gallons)	19,530
Short | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts | Long-Term
Derivative Instruments And Hedging Activities
Volume (in gallons)	82
Short | Derivatives Designated as Hedging Instruments | Fair Value Hedge | Futures contracts for refined petroleum products | Current
Derivative Instruments And Hedging Activities
Volume (in gallons)	71,778
Short | Derivatives Designated as Hedging Instruments | Fair Value Hedge | Futures contracts for refined petroleum products | Long-Term
Derivative Instruments And Hedging Activities
Volume (in gallons)	0
Long | Derivatives NOT Designated as Hedging Instruments | Physical index derivative contracts | Current
Derivative Instruments And Hedging Activities
Volume (in gallons)	13,762
Long | Derivatives NOT Designated as Hedging Instruments | Physical index derivative contracts | Long-Term
Derivative Instruments And Hedging Activities
Volume (in gallons)	0
Long | Derivatives NOT Designated as Hedging Instruments | Futures contracts for refined petroleum products | Current
Derivative Instruments And Hedging Activities
Volume (in gallons)	8,549
Long | Derivatives NOT Designated as Hedging Instruments | Futures contracts for refined petroleum products | Long-Term
Derivative Instruments And Hedging Activities
Volume (in gallons)	168

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Each Classification of Derivative Instrument (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value
Fair value	$ 54,540	$ 27,787
Netting balance sheet adjustment	0	0
Net Total
Derivatives, Fair Value
Fair value	54,540	27,787
Derivatives NOT Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	(5,193)	(4,207)
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	59,733	31,994
Total current derivative assets
Derivatives, Fair Value
Fair value	60,346	35,031
Netting balance sheet adjustment	(40)	(72)
Total current derivative assets | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	443	2,582
Netting balance sheet adjustment	(28)	(63)
Total current derivative assets | Physical index derivative contracts
Derivatives, Fair Value
Fair value	170	455
Netting balance sheet adjustment	(12)	(9)
Total current derivative assets | Interest rate derivative contracts
Derivatives, Fair Value
Fair value	59,733	31,994
Netting balance sheet adjustment	0	0
Total current derivative assets | Net Total
Derivatives, Fair Value
Fair value	60,306	34,959
Total current derivative assets | Net Total | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	415	2,519
Total current derivative assets | Net Total | Physical index derivative contracts
Derivatives, Fair Value
Fair value	158	446
Total current derivative assets | Net Total | Interest rate derivative contracts
Derivatives, Fair Value
Fair value	59,733	31,994
Total current derivative assets | Derivatives NOT Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	613	3,037
Total current derivative assets | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	443	2,582
Total current derivative assets | Derivatives NOT Designated as Hedging Instruments | Physical index derivative contracts
Derivatives, Fair Value
Fair value	170	455
Total current derivative assets | Derivatives NOT Designated as Hedging Instruments | Interest rate derivative contracts
Derivatives, Fair Value
Fair value	0	0
Total current derivative assets | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	59,733	31,994
Total current derivative assets | Derivatives Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0	0
Total current derivative assets | Derivatives Designated as Hedging Instruments | Physical index derivative contracts
Derivatives, Fair Value
Fair value	0	0
Total current derivative assets | Derivatives Designated as Hedging Instruments | Interest rate derivative contracts
Derivatives, Fair Value
Fair value	59,733	31,994
Total non-current derivative assets
Derivatives, Fair Value
Fair value	0	0
Netting balance sheet adjustment	0	0
Total non-current derivative assets | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0
Netting balance sheet adjustment	0
Total non-current derivative assets | Net Total
Derivatives, Fair Value
Fair value	0	0
Total non-current derivative assets | Net Total | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0
Total non-current derivative assets | Derivatives NOT Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	0	0
Total non-current derivative assets | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0
Total non-current derivative assets | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	0	0
Total non-current derivative assets | Derivatives Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0
Total current derivative liabilities
Derivatives, Fair Value
Fair value	(5,797)	(7,244)
Netting balance sheet adjustment	40	72
Total current derivative liabilities | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(5,778)	(7,226)
Netting balance sheet adjustment	28	63
Total current derivative liabilities | Physical index derivative contracts
Derivatives, Fair Value
Fair value	(19)	(18)
Netting balance sheet adjustment	12	9
Total current derivative liabilities | Net Total
Derivatives, Fair Value
Fair value	(5,757)	(7,172)
Total current derivative liabilities | Net Total | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(5,750)	(7,163)
Total current derivative liabilities | Net Total | Physical index derivative contracts
Derivatives, Fair Value
Fair value	(7)	(9)
Total current derivative liabilities | Derivatives NOT Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	(5,797)	(7,244)
Total current derivative liabilities | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(5,778)	(7,226)
Total current derivative liabilities | Derivatives NOT Designated as Hedging Instruments | Physical index derivative contracts
Derivatives, Fair Value
Fair value	(19)	(18)
Total current derivative liabilities | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	0	0
Total current derivative liabilities | Derivatives Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	0	0
Total current derivative liabilities | Derivatives Designated as Hedging Instruments | Physical index derivative contracts
Derivatives, Fair Value
Fair value	0	0
Total non-current derivative liabilities
Derivatives, Fair Value
Fair value	(9)	0
Netting balance sheet adjustment	0	0
Total non-current derivative liabilities | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(9)
Netting balance sheet adjustment	0
Total non-current derivative liabilities | Net Total
Derivatives, Fair Value
Fair value	(9)	0
Total non-current derivative liabilities | Net Total | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(9)
Total non-current derivative liabilities | Derivatives NOT Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	(9)	0
Total non-current derivative liabilities | Derivatives NOT Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	(9)
Total non-current derivative liabilities | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value
Fair value	0	$ 0
Total non-current derivative liabilities | Derivatives Designated as Hedging Instruments | Physical fixed-price derivative contracts
Derivatives, Fair Value
Fair value	$ 0

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivatives NOT Designated as Hedging Instruments | Product sales | Physical fixed-price derivative contracts
Derivatives NOT designated as hedging instruments:
Gains (losses) on derivative instruments recognized in income	$ (3,887)	$ (7,209)	$ (4,192)	$ (257)
Derivatives NOT Designated as Hedging Instruments | Product sales | Physical index derivative contracts
Derivatives NOT designated as hedging instruments:
Gains (losses) on derivative instruments recognized in income	123	57	283	58
Derivatives NOT Designated as Hedging Instruments | Cost of product sales | Physical fixed-price derivative contracts
Derivatives NOT designated as hedging instruments:
Gains (losses) on derivative instruments recognized in income	697	1,462	644	1,380
Derivatives NOT Designated as Hedging Instruments | Cost of product sales | Physical index derivative contracts
Derivatives NOT designated as hedging instruments:
Gains (losses) on derivative instruments recognized in income	53	115	479	453
Derivatives NOT Designated as Hedging Instruments | Cost of product sales | Futures contracts for refined products
Derivatives NOT designated as hedging instruments:
Gains (losses) on derivative instruments recognized in income	2,493	15,861	(2,070)	15,061
Derivatives Designated as Hedging Instruments | Cost of product sales | Hedge Ineffectiveness
Ineffectiveness excluding the time value component on fair value hedging instruments:
Fair value hedge ineffectiveness (excluding time value)	1,196	(3,299)	1,000	(5,929)
Time value excluded from hedge assessment	(2,031)	442	(2,601)	15,223
Derivatives Designated as Hedging Instruments | Cost of product sales | Futures contracts for refined products
Derivatives designated as fair value hedging instruments:
Futures contracts for refined products	(8,049)	(51,093)	(12,355)	1,758
Derivatives Designated as Hedging Instruments | Cost of product sales | Physical inventory - hedged items
Derivatives designated as fair value hedging instruments:
Physical inventory - hedged items	$ 7,214	$ 48,236	$ 10,754	$ 7,536

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Changes in Value Recognized in OCI (Details) - Cash Flow Hedge - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Losses reclassified from AOCI to income
(Loss) Gain Recognized in OCI on Derivatives	$ 7,129	$ (5,764)	$ 30,203	$ (11,995)
(Loss) Gain Reclassified from AOCI to Income (Effective Portion)	(2,296)	(3,038)	(6,928)	(9,113)
Interest rate derivative contracts
Losses reclassified from AOCI to income
(Loss) Gain Recognized in OCI on Derivatives	7,322	(2,207)	27,739	(12,670)
Commodity derivatives
Losses reclassified from AOCI to income
(Loss) Gain Recognized in OCI on Derivatives	(193)	(3,557)	2,464	675
Interest and debt expense | Interest rate derivative contracts
Losses reclassified from AOCI to income
(Loss) Gain Reclassified from AOCI to Income (Effective Portion)	$ (2,296)	$ (3,038)	$ (6,928)	$ (9,113)

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 54,540	$ 27,787
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Physical fixed-price derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Physical index derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Futures contracts for refined petroleum products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	54,540	27,787
Fair Value, Measurements, Recurring | Level 2 | Physical fixed-price derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	443	2,582
Financial liabilities	(5,787)	(7,226)
Fair Value, Measurements, Recurring | Level 2 | Physical index derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	170	455
Financial liabilities	(19)	(18)
Fair Value, Measurements, Recurring | Level 2 | Futures contracts for refined petroleum products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Fair Value, Measurements, Recurring | Level 2 | Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 59,733	$ 31,994

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Debt (Details) - Level 2 - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Carrying Amount
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	$ 5,163,401	$ 4,910,525
Carrying Amount | Fixed-rate debt
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	3,945,363	4,241,963
Carrying Amount | Variable-rate debt
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	1,218,038	668,562
Fair Value
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	5,084,685	5,053,240
Fair Value | Fixed-rate debt
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	3,862,064	4,384,336
Fair Value | Variable-rate debt
Fair Value And Carrying Value By Balance Sheet Grouping
Total debt	$ 1,222,621	$ 668,904

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of equity method investment in VTTI	$ 300,300
Goodwill impairment	536,964	$ 0	$ 536,964	$ 0
GMT Caribbean and NYH
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	$ 537,000		$ 536,964

UNIT-BASED COMPENSATION PLANS -

UNIT-BASED COMPENSATION PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
LTIP and Option Plan
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 4.9	$ 8.2	$ 21.7	$ 25.9
Long Term Incentive Plan 2013
Share-based Compensation Arrangement by Share-based Payment Award
LP Units, available for issuance (in shares)	2,153,121		2,153,121
Awards granted (in shares)			643,000
Long Term Incentive Plan 2013 | Phantom Stock Units | Independent directors
Share-based Compensation Arrangement by Share-based Payment Award
Awards granted (in shares)			18,000,000
Long Term Incentive Plan 2013 | Performance Shares | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Awards granted (in shares)			274,688
Long Term Incentive Plan 2009, Deferral Plan | Phantom Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Awards granted (in shares)			350,015
Long Term Incentive Plan 2009, Deferral Plan | Phantom Stock Units | Employee
Share-based Compensation Arrangement by Share-based Payment Award
Awards granted (in shares)			149,726

UNIT-BASED COMPENSATION PLANS_2

UNIT-BASED COMPENSATION PLANS - LTIP Activity for the Period (Details) - USD ($) $ / shares in Units, shares in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Long Term Incentive Plan 2013
Number of LP Units
Beginning Balance (in shares)	1,450
Granted (in shares)	643
Performance adjustment (in shares)	39
Vested (in shares)	(401)
Forfeited (in shares)	(33)
Ending Balance (in shares)	1,698
Weighted Average Grant Date Fair Value per LP Unit
Beginning Balance (in dollars per share)	$ 64.04
Granted (in dollars per share)	51.47
Performance adjustment (in dollars per share)	73.17
Vested (in dollars per share)	72.53
Forfeited (in dollars per share)	58.98
Ending Balance (in dollars per share)	$ 57.52
Additional disclosures
Compensation expense expected to be recognized	$ 38,800,000
Unrecognized compensation cost, weighted average period of recognition	1 year 9 months 26 days
Limited Partner Units | Option Plan
Additional disclosures
Total intrinsic value of options exercised	$ 0	$ 200,000

PARTNERS' CAPITAL AND DISTRIB_3

PARTNERS' CAPITAL AND DISTRIBUTIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 02, 2018	Mar. 30, 2018	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Partner's capital and distributions
Ownership interest				66.67%
Units issued in private placements				6,221,000
Net proceeds from issuance of Units and exercise of Unit options				$ 261,958	$ 346,436
Class C Units
Partner's capital and distributions
Units issued in private placements		6,200,000		6,221,000
Aggregate proceeds of private placement		$ 265,000
Net proceeds from issuance of Units and exercise of Unit options		$ 262,000
Issuance costs						$ 3,000
Limited Partners, units outstanding				6,714,963			0
Distribution per LP unit (in dollars per share)				$ 1.2625
Limited Partner Units
Partner's capital and distributions
Limited Partners, units outstanding				146,949,101			146,677,459
Distribution per LP unit (in dollars per share)				$ 3.7875	$ 3.75
Cash distributions declared (in dollars per share)			$ 1.2625
Subsequent event | Limited Partner Units
Partner's capital and distributions
Cash distributions declared (in dollars per share)	$ 0.75

PARTNERS' CAPITAL AND DISTRIB_4

PARTNERS' CAPITAL AND DISTRIBUTIONS - Summary of Changes in Outstanding Units (Details) - shares shares in Thousands	1 Months Ended	9 Months Ended
	Mar. 30, 2018	Sep. 30, 2018
Summary of Changes in Outstanding Units for the Period
Beginning Balance (in shares)		146,677
Issuance of Class C units (in shares)		6,221
Issuance of Class C Units in lieu of quarterly cash distributions (in shares)		494
Ending Balance (in shares)		153,664
Long Term Incentive Plan 2013
Summary of Changes in Outstanding Units for the Period
LP units issued pursuant to the LTIP (in shares)		272
Limited Partner
Summary of Changes in Outstanding Units for the Period
Beginning Balance (in shares)		146,677
Issuance of Class C units (in shares)		0
Issuance of Class C Units in lieu of quarterly cash distributions (in shares)		0
Ending Balance (in shares)		146,949
Limited Partner | Long Term Incentive Plan 2013
Summary of Changes in Outstanding Units for the Period
LP units issued pursuant to the LTIP (in shares)		272
Class C Units
Summary of Changes in Outstanding Units for the Period
Beginning Balance (in shares)		0
Issuance of Class C units (in shares)	6,200	6,221
Issuance of Class C Units in lieu of quarterly cash distributions (in shares)		494
Ending Balance (in shares)		6,715
Class C Units | Long Term Incentive Plan 2013
Summary of Changes in Outstanding Units for the Period
LP units issued pursuant to the LTIP (in shares)		0

PARTNERS' CAPITAL AND DISTRIB_5

PARTNERS' CAPITAL AND DISTRIBUTIONS - Distributions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Nov. 20, 2018	Nov. 02, 2018	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Distributions to unitholders
Actual cash distributions				$ 558,135	$ 529,169
Limited Partner Units
Distributions to unitholders
Actual cash distributions				$ 560,200	$ 531,400
Distribution per LP unit (in dollars per share)				$ 3.7875	$ 3.75
Cash distributions declared (in dollars per share)			$ 1.2625
Class C Units
Distributions to unitholders
Distribution per LP unit (in dollars per share)				$ 1.2625
In kind distributions (in shares)				494
Forecast | Limited Partner Units
Distributions to unitholders
Actual cash distributions	$ 116,000
Subsequent event | Limited Partner Units
Distributions to unitholders
Cash distributions declared (in dollars per share)		$ 0.75

EARNINGS PER UNIT (Details)

EARNINGS PER UNIT (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net (loss) income attributable to unitholders	$ (745,835)	$ 116,187	$ (541,558)	$ 352,485
Basic:
Weighted average units outstanding - basic (in shares)	153,512	142,088	151,908	141,104
Earnings (loss) per unit - basic (in dollars per share)	$ (4.86)	$ 0.82	$ (3.57)	$ 2.50
Diluted:
Weighted average units outstanding - basic (in shares)	153,512	142,088	151,908	141,104
Effect of dilutive securities (in shares)	0	730	0	677
Weighted average units outstanding - diluted (in shares)	153,512	142,818	151,908	141,781
Earnings (loss) per unit - diluted (in dollars per share)	$ (4.86)	$ 0.81	$ (3.57)	$ 2.49

BUSINESS SEGMENTS - Narrative (

BUSINESS SEGMENTS - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)propane_storage	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)terminalsegmentpropane_storage	Sep. 30, 2017USD ($)	Apr. 30, 2018	Jan. 31, 2017
Segment information
Number of business segments | segment			3
Depreciation and amortization	$ 68,464	$ 65,661	$ 199,171	$ 195,987
Impairment of equity method investment in VTTI	$ 300,300
Domestic Pipelines & Terminals
Segment information
Number of terminals operated | terminal			3
Global Marine Terminals
Segment information
Number of terminals owned | terminal			22
Merchant Services
Segment information
Number of terminals owned | terminal			3
Indiana and Illinois | Domestic Pipelines & Terminals
Segment information
Number of underground propane storage caverns | propane_storage	2		2
Buckeye Texas Partners LLC
Segment information
Ownership percentage	100.00%		100.00%
Depreciation and amortization	$ 18,500	18,100	$ 54,500	54,100
Buckeye Texas Partners LLC
Segment information
Ownership percentage	100.00%		100.00%		100.00%
VTTI B.V.
Segment information
Ownership percentage	50.00%		50.00%			50.00%
VTTI B.V. | Global Marine Terminals
Segment information
Impairment of equity method investment in VTTI	$ 300,280	$ 0	$ 300,280	$ 0
Buckeye Texas Partners LLC
Segment information
Percentage of interest acquired					20.00%

BUSINESS SEGMENTS - Revenue by

BUSINESS SEGMENTS - Revenue by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Total revenue from contracts with customers	$ 768,823	$ 707,817	$ 2,532,281	$ 2,172,793
Revenue from leases	52,000	48,666	156,777	147,261
Commodity derivative contracts, net	88,725	166,136	344,434	382,039
Total revenue	909,548	922,619	3,033,492	2,702,093
United States
Revenue:
Total revenue	846,390	855,795	2,847,217	2,474,562
International
Revenue:
Total revenue	63,158	66,824	186,275	227,531
Domestic Pipelines & Terminals
Revenue:
Total revenue from contracts with customers	246,959	246,191	736,128	729,139
Revenue from leases	9,199	9,114	28,254	29,360
Commodity derivative contracts, net	330	(1,028)	(2,579)	2,939
Total revenue	256,488	254,277	761,803	761,438
Global Marine Terminals
Revenue:
Total revenue from contracts with customers	98,625	115,593	300,131	369,576
Revenue from leases	42,943	39,688	128,665	118,037
Commodity derivative contracts, net	0	0	0	0
Total revenue	141,568	155,281	428,796	487,613
Merchant Services
Revenue:
Total revenue from contracts with customers	435,140	359,680	1,538,653	1,115,371
Revenue from leases	0	0	0	0
Commodity derivative contracts, net	88,395	167,164	344,923	383,067
Total revenue	523,535	526,844	1,883,576	1,498,438
Intersegment
Revenue:
Total revenue from contracts with customers	(11,901)	(13,647)	(42,631)	(41,293)
Revenue from leases	(142)	(136)	(142)	(136)
Commodity derivative contracts, net	0	0	2,090	(3,967)
Total revenue	(12,043)	(13,783)	(40,683)	(45,396)
Pipeline transportation
Revenue:
Total revenue from contracts with customers	125,908	123,140	369,535	355,705
Pipeline transportation | Domestic Pipelines & Terminals
Revenue:
Total revenue from contracts with customers	127,846	127,754	377,276	367,510
Pipeline transportation | Global Marine Terminals
Revenue:
Total revenue from contracts with customers	0	0	0	0
Pipeline transportation | Merchant Services
Revenue:
Total revenue from contracts with customers	0	0	0	0
Pipeline transportation | Intersegment
Revenue:
Total revenue from contracts with customers	(1,938)	(4,614)	(7,741)	(11,805)
Terminalling and storage services
Revenue:
Total revenue from contracts with customers	191,234	214,172	591,012	665,740
Terminalling and storage services | Domestic Pipelines & Terminals
Revenue:
Total revenue from contracts with customers	106,537	108,389	323,493	324,028
Terminalling and storage services | Global Marine Terminals
Revenue:
Total revenue from contracts with customers	92,948	112,991	294,093	362,653
Terminalling and storage services | Merchant Services
Revenue:
Total revenue from contracts with customers	0	0	0	0
Terminalling and storage services | Intersegment
Revenue:
Total revenue from contracts with customers	(8,251)	(7,208)	(26,574)	(20,941)
Product sales
Revenue:
Total revenue from contracts with customers	436,700	350,214	1,530,171	1,100,259
Product sales | Domestic Pipelines & Terminals
Revenue:
Total revenue from contracts with customers	0	0	0	0
Product sales | Global Marine Terminals
Revenue:
Total revenue from contracts with customers	5,243	0	5,263	3,891
Product sales | Merchant Services
Revenue:
Total revenue from contracts with customers	433,156	351,894	1,531,849	1,103,055
Product sales | Intersegment
Revenue:
Total revenue from contracts with customers	(1,699)	(1,680)	(6,941)	(6,687)
Other services
Revenue:
Total revenue from contracts with customers	14,981	20,291	41,563	51,089
Other services | Domestic Pipelines & Terminals
Revenue:
Total revenue from contracts with customers	12,576	10,048	35,359	37,601
Other services | Global Marine Terminals
Revenue:
Total revenue from contracts with customers	434	2,602	775	3,032
Other services | Merchant Services
Revenue:
Total revenue from contracts with customers	1,984	7,786	6,804	12,316
Other services | Intersegment
Revenue:
Total revenue from contracts with customers	$ (13)	$ (145)	$ (1,375)	$ (1,860)

BUSINESS SEGMENTS - Adjusted EB

BUSINESS SEGMENTS - Adjusted EBITDA from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Net (loss) income	$ (745,336)	$ 120,224	$ (534,927)	$ 362,912
Less: Net income attributable to noncontrolling interests	(499)	(4,037)	(6,631)	(10,427)
Net (loss) income attributable to Buckeye Partners, L.P.	(745,835)	116,187	(541,558)	352,485
Add: Interest and debt expense	60,332	56,561	179,003	168,870
Income tax expense	634	448	1,906	1,709
Depreciation and amortization	68,464	65,661	199,171	195,987
Goodwill impairment	536,964	0	536,964	0
Loss (earnings) from the equity method investment in VTTI	292,387	(9,232)	276,633	(22,710)
Total Adjusted EBITDA	253,729	277,318	770,306	824,018
VTTI B.V.
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Loss (earnings) from the equity method investment in VTTI	295,905	(6,396)	286,633	(15,111)
Segment Reconciling Items
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Non-cash unit-based compensation expense	4,921	8,176	21,587	25,756
Acquisition and transition expense	21	1,447	444	3,275
Hurricane-related costs, net of recoveries	68	1,804	(744)	4,820
Proportionate share of Adjusted EBITDA for the equity-method investment in VTTI	32,255	33,430	101,435	90,848
Less: Gains on property damage recoveries	0	0	(14,535)	(4,621)
Domestic Pipelines & Terminals
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Total Adjusted EBITDA	137,676	138,880	413,648	413,710
Global Marine Terminals
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Total Adjusted EBITDA	111,692	128,696	349,838	391,084
Global Marine Terminals | VTTI B.V.
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Loss (earnings) from the equity method investment in VTTI	(4,375)	(6,396)	(13,647)	(15,111)
Merchant Services
Reconciliation of Net Income (Loss) to Adjusted EBITDA:
Total Adjusted EBITDA	$ 4,361	$ 9,742	$ 6,820	$ 19,224

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest (net of capitalized interest)	$ 164,714	$ 161,914
Cash paid for income taxes	1,069	1,359
Capitalized interest	6,680	3,445
Issuance of Class C Units in lieu of quarterly cash distribution	18,490	0
Capital expenditures incurred but not yet paid	$ 93,500	$ 51,000