PARTNERS' CAPITAL

12 Months Ended

Dec. 31, 2011

PARTNERS' CAPITAL [Abstract]

PARTNERS' CAPITAL

(15)  PARTNERS' CAPITAL

As of December 31, 2011, partners' capital consists of 20,471,776 common limited partner units, representing a 98% partnership interest and a 2% general partner interest.  Martin Resource Management, through subsidiaries, owned an approximate 31.6% limited partnership interest consisting of 6,593,267 common limited partner units and a 2% general partner interest as of December 31, 2011.

The Partnership Agreement contains specific provisions for the allocation of net income and losses to each of the partners for purposes of maintaining their respective partner capital accounts.

Distributions of Available Cash

The Partnership distributes all of its Available Cash (as defined in the Partnership Agreement) within 45 days after the end of each quarter to unitholders of record and to the general partner.  Available Cash is generally defined as all cash and cash equivalents of the Partnership on hand at the end of each quarter less the amount of cash  reserves its general partner determines in its reasonable discretion is necessary or appropriate to:  (i) provide for the proper conduct of the Partnership's business; (ii) comply with applicable law, any debt instruments or other agreements; or (iii) provide funds for distributions to unitholders and the general partner for any one or more of the next four quarters, plus all cash on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter.