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Incentive Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2011
Incentive Compensation Plans  
Schedule of share-based compensation plans

 

 

Share-based compensation plan
  Award
Classification
  Further awards
authorized for
issuance under
plan as of
December 31,
2011
  Awards
outstanding
under the plan as
of December 31,
2011
  Final Year of
Activity
 

2008 Long-Term Incentive Plan ("2008 LTIP")

  Equity   Yes   Yes     N/A  

2006 Hydrocarbon Stock Incentive Plan ("2006 Hydrocarbon Plan")

  Equity   No   No     2010  

Long-Term Incentive Plan ("2002 LTIP")

  Liability   No   No     2011  

1996 Hydrocarbon Stock Incentive Plan ("1996 Hydrocarbon Plan")

  Equity   No   No     2009  
Compensation expense recorded for share-based pay arrangements

 

 
  Year ended December 31,  
 
  2011   2010   2009  

Phantom units

  $ 13,479   $ 15,319   $ 7,448  

Distribution equivalent rights(1)

    446     1,465     1,324  
               

Total compensation expense

  $ 13,925   $ 16,784   $ 8,772  
               

(1)
A distribution equivalent right is a right, granted in tandem with a specific phantom unit, to receive an amount in cash equal to, and at the same time as, the cash distributions made by the Partnership with respect to a unit during the period such phantom unit is outstanding. Payment of distribution equivalent rights associated with units that are expected to vest are recorded as capital distributions, however, payments associated with units that are not expected to vest are recorded as compensation expense.
2008 LTIP, 2006 Hydrocarbon Plan and 1996 Hydrocarbon Plan
 
Share-based compensation arrangement by share-based payment award  
Phantom unit activity

 

 
  Number of
Units
  Weighted-average
Grant-date Fair
Value(1)
 

Unvested at January 1, 2009

    909,306   $ 31.80  

Granted

    442,035     8.64  

Vested

    (309,052 )   31.93  

Forfeited

    (65,048 )   20.96  
             

Unvested at December 31, 2009

    977,241     22.00  

Granted (includes 282,000 TSR units)

    736,688     30.25  

Vested

    (363,502 )   26.85  

Forfeited

    (21,267 )   19.28  
             

Unvested at December 31, 2010 (includes 282,000 TSR units)

    1,329,160     25.29  

Granted (includes 35,250 TSR units)

    309,629     42.75  

Vested (includes 176,250 TSR units)

    (396,934 )   27.04  

Forfeited

    (306,346 )   31.66  
             

Unvested at December 31, 2011 (includes 141,000 TSR units)(2)

    935,509     28.50  
             

(1)
The calculation of the weighted average grant-date fair value for units granted during the year ended December 31, 2010 and unvested as of December 2010 and December 2011 is recalculated to include the fair value as of December 31, 2011 for 35,250 TSR Performance Units. A grant date, as defined by GAAP, has not been established for these units.

(2)
Includes 141,000 Performance Units that did not vest and were forfeited in January 2012.

   

2002 LTIP
 
Share-based compensation arrangement by share-based payment award  
Phantom unit activity

 

 

 
  Number of
Units
  Weighted-average
Grant-date Fair
Value
 

Unvested at January 1, 2009

    145,927   $ 31.45  

Vested

    (69,652 )   29.94  

Forfeited

    (6,720 )   33.64  
             

Unvested at December 31, 2009

    69,555     32.75  

Vested

    (44,942 )   32.15  

Forfeited

    (968 )   34.00  
             

Unvested at December 31, 2010

    23,645     33.83  

Vested

    (23,645 )   33.83  
             

Unvested at December 31, 2011