INVESTMENT IN NUSTAR ENERGY (Tables)

9 Months Ended

Sep. 30, 2011

INVESTMENT IN NUSTAR ENERGY [Abstract]

NuStar Energy's Balance Sheet Information

	September 30, 2011		December 31, 2010
	(Unaudited)
Balance Sheet Information:
Current assets	$	1,199,910	$	939,507
Property, plant and equipment, net	3,385,436		3,187,457
Goodwill	846,526		813,270
Other long-term assets, net	416,276		446,159
Total assets	$	5,848,148	$	5,386,393
Current liabilities	$	983,059	$	393,229
Long-term debt, less current portion	2,170,010		2,136,248
Other long-term liabilities	170,030		154,216
Total liabilities	3,323,099		2,683,693
NuStar Energy partners' equity	2,512,367		2,702,700
Noncontrolling interest	12,682		—
Total liabilities and partners’ equity	$	5,848,148	$	5,386,393

NuStar Energy's Statement of Income Information

	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
	(Thousands of Dollars)
Statement of Income Information:
Revenues	$	1,824,350	$	1,138,379	$	4,648,150	$	3,208,849
Operating income	92,977		90,290		266,059		232,093
Net income	70,281		68,310		191,402		187,435

Reconcilliation of NuStar Energy’s total partners’ equity to our investment in NuStar Energy

	September 30, 2011			December 31, 2010
	(Thousands of Dollars)
NuStar Energy’s total partners’ equity	$	2,512,367		$	2,702,700
NuStar GP Holdings’ ownership interest in NuStar Energy	17.6		%	17.6		%
NuStar GP Holdings’ share of NuStar Energy’s partners’ equity	442,177			475,675
Step-up in basis related to NuStar Energy’s assets and liabilities, including equity method goodwill, and other	88,017			91,001
Investment in NuStar Energy	$	530,194		$	566,676