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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Affiliates $ 167,626 $ 146,376 $ 101,395
Third parties 45,923 35,721 45,166
Total revenues 213,549 182,097 146,561
Operating costs and expenses:      
Operations 62,202 52,947 44,003
Depreciation and amortization 33,150 30,682 26,714
General and administrative 6,576 7,719 7,586
Total operating costs and expenses 101,928 91,348 78,303
Operating income 111,621 90,749 68,258
Other income (expense):      
Equity in earnings of SLC Pipeline 2,552 2,393 1,919
SLC Pipeline acquisition costs 0 0 (2,500)
Interest income 0 7 11
Interest expense (35,959) (34,001) (21,501)
Other income 17 17 67
Other nonoperating income (expense), equity earnings and acquisition costs (33,390) (31,584) (22,004)
Income from continuing operations before income taxes 78,231 59,165 46,254
State income tax (234) (296) (20)
Income from continuing operations 77,997 58,869 46,234
Discontinued Operations      
Income from discontinued operations, net of noncontrolling interest of $1,579 0 0 5,301
Gain on sale of interest in Rio Grande Pipeline Company 0 0 14,479
Income from discontinued operations 0 0 19,780
Net income 77,997 58,869 66,014
Less general partner interest in net income, including incentive distributions 16,769 12,152 7,947
Limited partners’ interest in net income $ 61,228 $ 46,717 $ 58,067
Limited partners’ per unit interest in earnings – basic and diluted:      
Income from continuing operations $ 2.68 $ 2.12 $ 2.12
Income from discontinued operations $ 0 $ 0 $ 0.28
Gain on sale of discontinued operations $ 0 $ 0 $ 0.78
Net income $ 2.68 $ 2.12 $ 3.18
Weighted average limited partners’ units outstanding 22,836 22,079 18,268