Acquisitions

3 Months Ended

Mar. 31, 2013

Business Combinations [Abstract]

Acquisitions

Note 2:  Acquisitions

In October 2012, the Partnership acquired Louisiana Midstream from PL Logistics LLC for $620.2 million in cash, after customary adjustments and net of cash acquired. The purchase price was funded through a $225.0 million five-year term loan, borrowings under the Partnership's revolving credit facility, and the issuance and sale of common units.

In February 2012, the Partnership acquired BPHC's 80% equity ownership interest in Boardwalk HP Storage, LLC (HP Storage) for $284.8 million in cash, which transaction was accounted for as a transaction between entities under common control. Therefore, the assets and liabilities were recognized at their carrying amounts at the date of transfer and the $3.0 million difference between the purchase price and the $281.8 million carrying amount of the net assets acquired at the date of transfer was recognized as an adjustment to partners' capital.