MEMBERS' EQUITY

3 Months Ended

Mar. 31, 2012

MEMBERS’ EQUITY [Abstract]

MEMBERS' EQUITY

MEMBERS’ EQUITY

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

Balance as of December 31, 2011	$	506,883
Net income	11,046
Distributions to unitholders	(21,708		)
Other comprehensive loss	(5,760		)
Unit-based compensation and other	374
Balance as of March 31, 2012	$	490,835

Cash Distributions

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

	Three Months Ended March 31,
	2012		2011
	(Thousands of Dollars, Except Per Unit Data)
Cash distributions per unit	$	0.51	$	0.48
Total cash distributions	$	21,720	$	20,422

On February 14, 2012, we paid a quarterly cash distribution totaling $21.7 million, or $0.51 per unit, related to the fourth quarter of 2011. On April 25, 2012, we announced a quarterly cash distribution of $0.51 per unit related to the first quarter of 2012. This distribution will be paid on May 15, 2012 to unitholders of record on May 8, 2012, and totals $21.7 million.