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Subsequent Events
12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
Declaration of Dividends/Distributions
The General Partner's board of directors declared the following dividends/distributions at its regularly scheduled board meeting held on January 30, 2013:
Class of stock/units
Quarterly
Amount per Share or Unit
 
Record Date
 
Payment Date
Common
$
0.170000

 
February 13, 2013
 
February 28, 2013
Preferred (per depositary share):
 
 
 
 
 
      Series J
$
0.414063

 
February 13, 2013
 
February 28, 2013
      Series K
$
0.406250

 
February 13, 2013
 
February 28, 2013
      Series L
$
0.412500

 
February 13, 2013
 
February 28, 2013

Common Stock Issuance
In January 2013, the General Partner completed a public offering of 41.4 million common shares, at an issue price of $14.25 per share, resulting in gross proceeds of $590.0 million and, after underwriting fees and estimated offering costs, net proceeds of approximately $571.9 million. A portion of the net proceeds from this offering were used to repay all of the outstanding borrowings under the Partnership's existing revolving credit facility, which had an outstanding balance of $285.0 million as of December 31, 2012, and the remaining proceeds will be used to redeem all of the General Partner's outstanding Series O Shares, which are redeemable as of February 22, 2013 and for general corporate purposes.
Preferred Series O Redemption Notice
In January 2013, the General Partner called for redemption all 711,820 of its outstanding Series O Shares. The redemption date is February 22, 2013 and the cash redemption price for the Series O Shares is $178.0 million, or $250.00 per share.