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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities [Abstract]  
Notional Volume of Commodity Hedges
At March 31, 2014, the notional volumes of the Partnership’s commodity hedges for equity volumes were:

 Commodity
 Instrument
 Unit
 
2014
  
2015
  
2016
 
 Natural Gas
 Swaps
 MMBtu/d
  
54,050
   
40,551
   
25,500
 
 NGL
 Swaps
 Bbl/d
  
1,125
   
-
   
-
 
 Condensate
 Swaps
 Bbl/d
  
2,450
   
-
   
-
 
Fair Values of Derivative Instruments
The following schedules reflect the fair values of our derivative instruments and their location in our Consolidated Balance Sheets as well as pro forma reporting assuming that we reported derivatives subject to master netting agreements on a net basis:

 
  
 
Fair Value as of March 31,2014
  
Fair Value as of December 31,2013
 
 Balance Sheet
 
Derivative
  
Derivative
  
Derivative
  
Derivative
 
Location
 
Assets
  
Liabilities
  
Assets
  
Liabilities
 
Derivatives designated as hedging instruments
 
  
  
  
 
Commodity contracts
Current
 
$
1.6
  
$
(12.8
)
 
$
2.0
  
$
(7.7
)
Long-term
  
2.9
   
(1.2
)
  
3.1
   
(1.4
)
Total derivatives designated as hedging instruments
 
$
4.5
  
$
(14.0
)
 
$
5.1
  
$
(9.1
)
 
 
                
Derivatives not designated as hedging instruments
                
Commodity contracts
Current
 
$
-
  
$
(0.1
)
 
$
-
  
$
(0.3
)
Total derivatives not designated as hedging instruments
 
$
-
  
$
(0.1
)
 
$
-
  
$
(0.3
)
 
 
                
Total current position
 
$
1.6
  
$
(12.9
)
 
$
2.0
  
$
(8.0
)
Total long-term position
  
2.9
   
(1.2
)
  
3.1
   
(1.4
)
Total derivatives
 
$
4.5
  
$
(14.1
)
 
$
5.1
  
$
(9.4
)
Pro Forma Impact of Derivatives Net In Consolidated Balance Sheet
The pro forma impact of reporting derivatives in the Consolidated Balance Sheets is as follows:

 
 
Gross Presentation
  
Pro forma Net Presentation
 
 
 
Asset
  
Liability
  
Asset
  
Liability
 
March 31, 2014
 
Position
  
Position
  
Position
  
Position
 
Current position
 
  
  
  
 
Counterparties with offsetting position
 
$
1.6
  
$
(3.4
)
 
$
-
  
$
(1.8
)
Counterparties without offsetting position - assets
  
-
   
-
   
-
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(9.5
)
  
-
   
(9.5
)
 
  
1.6
   
(12.9
)
  
-
   
(11.3
)
Long-term position
                
Counterparties with offsetting position
  
1.0
   
(0.3
)
  
0.7
   
-
 
Counterparties without offsetting position - assets
  
1.9
   
-
   
1.9
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(0.9
)
  
-
   
(0.9
)
 
  
2.9
   
(1.2
)
  
2.6
   
(0.9
)
Total derivatives
                
Counterparties with offsetting position
  
2.6
   
(3.7
)
  
0.7
   
(1.8
)
Counterparties without offsetting position - assets
  
1.9
   
-
   
1.9
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(10.4
)
  
-
   
(10.4
)
 
 
$
4.5
  
$
(14.1
)
 
$
2.6
  
$
(12.2
)
 
                
December 31, 2013
                
Current position
                
Counterparties with offsetting position
 
$
1.9
  
$
(4.4
)
 
$
-
  
$
(2.5
)
Counterparties without offsetting position - assets
  
0.1
   
-
   
0.1
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(3.6
)
  
-
   
(3.6
)
 
  
2.0
   
(8.0
)
  
0.1
   
(6.1
)
Long-term position
                
Counterparties with offsetting position
  
0.7
   
(1.2
)
  
-
   
(0.5
)
Counterparties without offsetting position - assets
  
2.4
   
-
   
2.4
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(0.2
)
  
-
   
(0.2
)
 
  
3.1
   
(1.4
)
  
2.4
   
(0.7
)
Total derivatives
                
Counterparties with offsetting position
  
2.6
   
(5.6
)
  
-
   
(3.0
)
Counterparties without offsetting position - assets
  
2.5
   
-
   
2.5
   
-
 
Counterparties without offsetting position - liabilities
  
-
   
(3.8
)
  
-
   
(3.8
)
 
 
$
5.1
  
$
(9.4
)
 
$
2.5
  
$
(6.8
)
Cash Flow Hedges Included In Accumulated Other Comprehensive Income (Loss)
The following tables reflect amounts recorded in OCI and amounts reclassified from OCI to revenue and expense for the periods indicated:
 
 
Gain (Loss) Recognized in OCI on Derivatives (Effective Portion)
 
Derivatives in Cash Flow
Three Months Ended March 31,
 
Hedging Relationships
2014
 
2013
 
Commodity contracts
 
$
(11.9
)
 
$
(7.6
)
 
        
 
 
Gain (Loss) Reclassified from OCI into Income (Effective Portion)
 
 
Three Months Ended March 31,
 
Location of Gain (Loss)
2014
 
2013
 
Interest expense, net
 
$
(1.3
)
 
$
(1.7
)
Revenues
  
(6.3
)
  
6.6
 
 
 
$
(7.6
)
 
$
4.9
 
Schedule of Gain (Loss) On Financial Instruments
The following table shows the deferred gains (losses) included in accumulated OCI that will be reclassified into earnings through the end of 2016:

 
 
March 31, 2014
  
December 31, 2013
 
Commodity hedges, before tax
 
$
(1.2
)
 
$
(0.5
)
Commodity hedges, after tax
  
(0.8
)
  
(0.3
)
Interest rate hedges, before tax
  
(0.1
)
  
(0.3
)
Interest rate hedges, after tax
  
(0.1
)
  
(0.2
)