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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)
QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table summarizes quarterly financial data for the years ended December 31, 2016 and 2015:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
 
(Thousands of Dollars, Except Per Unit Data)
2016:
 
Net income
$
16,676

 
$
15,073

 
$
17,320

 
$
5,999

 
$
55,068

Basic and diluted net income per unit
0.39

 
0.35

 
0.40

 
0.14

 
1.28

Cash distributions per unit
0.545

 
0.545

 
0.545

 
0.545

 
2.180

2015:
 
 
 
 
 
 
 
 
 
Net income
$
26,805

 
$
15,527

 
$
16,917

 
$
12,959

 
$
72,208

Basic and diluted net income per unit
0.62

 
0.37

 
0.39

 
0.30

 
1.68

Cash distributions per unit
0.545

 
0.545

 
0.545

 
0.545

 
2.180



In the fourth quarter of 2016, NuStar Energy recognized a $58.7 million impairment charge on its term loan to Axeon Specialty Products LLC. In the first quarter of 2015, NuStar Energy recognized a $56.3 million gain in association with the Linden Acquisition. Please refer to Note 4 for a discussion of this acquisition.