PARTNERS' CAPITAL

3 Months Ended

Mar. 31, 2012

12.

PARTNERS’ CAPITAL

Unit-Based Compensation

The Company has issued to certain key employees and management unit-based compensation in the form of unit appreciation rights and phantom partnership units.

Compensation expense recognized related to unit appreciation rights and restricted phantom unit awards for the three months ended March 31, 2012 and 2011 are summarized in the table below:


	Three months ended
	March 31,
	2012		2011
	(in thousands)

Unit appreciation rights	$	119	$	119
Restricted phantom units		79		70


Total unit-based compensation expense	$	198	$	189

As of March 31, 2012, there was approximately $0.8 million in non-vested unit appreciation rights outstanding. These unit appreciation rights will be expensed through the first quarter of 2014.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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+ Details