Cash Distributions

3 Months Ended

Mar. 31, 2015

Cash Distributions

Cash Distributions

5.  Cash Distributions

We make distributions of available cash (as defined in our partnership agreement) from operating surplus in the following manner:

· first, 98% to the common unitholders, pro rata, and 2% to our general partner, until we distribute for each outstanding common unit an amount equal to the minimum quarterly distribution for that quarter;

· second, 98% to common unitholders, pro rata, and 2% to our general partner, until each unit has received a distribution of $0.4025;

· third, 85% to all common unitholders, pro rata, and 15% to our general partner, until each unit has received a distribution of $0.4375;

· fourth, 75% to all common unitholders, pro rata, and 25% to our general partner, until each unit has received a total of $0.5250; and

· thereafter, 50% to all common unitholders, pro rata, and 50% to our general partner.

The following table summarizes our distributions per unit for 2014:

Period Covering	Payment Date	Distribution per Limited Partner Unit		Total Distribution (1)
1/1/2014 — 3/31/2014	May 15, 2014	$	0.5375	$	33.1 million
4/1/2014 — 6/30/2014	August 14, 2014	0.5425		33.6 million
7/1/2014 — 9/30/2014	November 14, 2014	0.5525		34.8 million
10/1/2014 — 12/31/2014	February 13, 2015	0.5575		35.3 million

(1) Includes distributions to our general partner on its incentive distribution rights.

On April 27, 2015, our board of directors approved a cash distribution of $0.5625 per limited partner unit, or approximately $35.9 million, including distributions to our general partner on its incentive distribution rights. The distribution covers the period from January 1, 2015 through March 31, 2015. The record date for this distribution is May 11, 2015 and payment is expected to occur on May 15, 2015.