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MEMBERS' EQUITY

6 Months Ended

Jun. 30, 2011

MEMBERS’ EQUITY [Abstract]

MEMBERS' EQUITY

MEMBERS’ EQUITY

The following table presents changes to our members’ equity (in thousands):



Balance as of December 31, 2010	$	541,463
Net income	32,244
Distributions to unitholders	(40,844		)
Other comprehensive loss	(3,290		)
Unit-based compensation	1,088
Balance as of June 30, 2011	$	530,661

Comprehensive Income

Our total comprehensive income was as follows:



	Three Months Ended June 30,								Six Months Ended June 30,
	2011				2010				2011				2010
	(Thousands of Dollars)
Net income	$	22,061			$	30,886			$	32,244			$	39,379
Share of NuStar Energy’s other comprehensive loss	(5,559		)		(1,288		)		(3,560		)		(1,451		)
Pension and other postretirement benefit plan adjustments, net	135				153				270				306
Comprehensive income	$	16,637			$	29,751			$	28,954			$	38,234

Cash Distributions

The table set forth below shows our cash distributions applicable to the period in which the distributions were earned:



	Three Months Ended June 30,								Six Months Ended June 30,
	2011				2010				2011				2010
	(Thousands of Dollars, Except Per Unit Data)
Cash distributions per unit	$	0.495			$	0.460			$	0.975			$	0.910
Total cash distributions	$	21,059			$	19,556			$	41,481			$	38,688

On May 18, 2011, we paid a quarterly cash distribution totaling $20.4 million, or $0.480 per unit, related to the first quarter of 2011. On July 28, 2011, our board of directors approved a quarterly cash distribution of $0.495 per unit related to the second quarter of 2011. This distribution will be paid on August 16, 2011 to unitholders of record on August 9, 2011, and totals $21.1 million.

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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