Unit-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of option and UAR activity

A summary of UAR and unit option activity for the six months ended June 30, 2015 is as follows:

	Units		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2015	671,229		$	26.97
Granted	21,500		11.12
Forfeited	(9,300	)	24.42
Outstanding at June 30, 2015	683,429		$	26.51	4.7	$	—
Options and UARs exercisable at June 30, 2015	272,719		$	25.80	3.4	$	—

Schedule of status of the Partnership’s non-vested UARs

The following table summarizes the status of Legacy’s non-vested UARs since January 1, 2015: 

	Non-Vested UARs
	Number of Units		Weighted-Average Exercise Price
Non-vested at January 1, 2015	451,173		$	27.69
Granted	21,500		11.12
Vested	(52,663	)	27.04
Forfeited	(9,300	)	24.42
Non-vested at June 30, 2015	410,710		$	26.98

Schedule of weighted average assumptions used for the Black-Scholes option-pricing model

The following table represents the weighted-average assumptions used for the Black-Scholes option-pricing model.

	Six Months Ended
	June 30, 2015
Expected life (years)	4.71
Risk free interest rate	1.5	%
Annual distribution rate per unit	$1.40
Volatility	41	%