Equity (Tables)

12 Months Ended

Mar. 31, 2013

Equity

Schedule of unaudited pro forma information after conversion of units

	Historical			Unaudited Pro Forma
	Units	Amount		Units	Amount
	(U.S. Dollars in thousands, except per unit amounts)
Limited Partner Equity —
Common units	10,933,568	$	47,225	5,014,222	$	21,658
Subordinated units	—	—		5,919,346	25,567
	10,933,568	$	47,225	10,933,568	$	47,225
Earnings per unit, basic and diluted —
Common units		$	1.16		$	1.16
Subordinated units		$	—		$	1.16

Summary of common units issued as partial consideration for several acquisitions

Osterman combination	4,000,000
SemStream combination	8,932,031
Pacer combination	1,500,000
Total - year ended March 31, 2012	14,432,031
High Sierra combination	20,703,510
Retail propane combinations	850,676
Water services combination	516,978
Pecos combination	1,834,414
Third Coast combination	344,680
Total - year ended March 31, 2013	24,250,258

Schedule of equivalent units not eligible to receive distributions

	Equivalent
	Units Not
Record Date	Eligible
August 3, 2011	—
October 31, 2011	4,000,000
February 3, 2012	7,117,031
April 30, 2012	3,932,031
August 3, 2012	17,862,470
October 29, 2012	516,978
February 4, 2013	1,202,085
May 6, 2013	—

Schedule of restricted unit activity

The following table summarizes the restricted unit activity during the year ended March 31, 2013:

Units granted	1,684,400
Units vested and issued	(156,802	)
Units withheld for employee taxes	(61,698	)
Units forfeited	(21,000	)
Unvested restricted units at March 31, 2013	1,444,900

Summary of expected vesting of the awards

Vesting Date	Number of Awards
July 1, 2013	377,300
July 1, 2014	360,800
July 1, 2015	272,300
July 1, 2016	263,500
July 1, 2017	169,000
July 1, 2018	2,000
Total unvested units at March 31, 2013	1,444,900

Schedule of estimated share-based expense to be recorded on the awards granted

Year ending March 31,
2014	$	12,168
2015	7,516
2016	6,559
2017	4,613
2018	1,040
2019	15
Total	$	31,911

Schedule of changes in net equity of NGL Supply

The changes in net equity of NGL Supply for the period of September 30, 2010 to October 14, 2010 were as follows (in thousands):

Net equity at September 30, 2010	$	36,811
Collection of stock option receivable	1,430
Net tax obligations of NGL Supply not assumed by the Partnership	3,120
Distribution to previous shareholders	(40,000		)
Other	(109		)
Net carrying value of assets and liabilities contributed by NGL Supply	$	1,252

Partnership Equity

Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner

			Amount		Amount Paid to		Amount Paid to
Date Declared	Record Date	Date Paid	Per Unit		Limited Partners		General Partner
					(in thousands)		(in thousands)
July 25, 2011	August 3, 2011	August 12, 2011	$	0.1669	$	2,467	$	3
October 21, 2011	October 31, 2011	November 14, 2011	0.3375		4,990		5
January 24, 2012	February 3, 2012	February 14, 2012	0.3500		7,735		10
April 18, 2012	April 30, 2012	May 15, 2012	0.3625		9,165		10
July 24, 2012	August 3, 2012	August 14, 2012	0.4125		13,574		134
October 17, 2012	October 29, 2012	November 14, 2012	0.4500		22,846		707
January 24, 2013	February 4, 2013	February 14, 2013	0.4625		24,245		927
April 25, 2013	May 6, 2013	May 15, 2013	0.4775		25,605		1,189

Future Distribution Payments

Partnership Equity

Schedule of percentage allocations of available cash from operating surplus between the unitholders and general partner

							Marginal Percentage Interest In
	Total Quarterly						Distributions
	Distribution per Unit						Unitholders		General Partner
Minimum quarterly distribution					$	0.3375	99.9	%	0.1	%
First target distribution	above	$	0.3375	up to	$	0.388125	99.9	%	0.1	%
Second target distribution	above	$	0.388125	up to	$	0.421875	86.9	%	13.1	%
Third target distribution	above	$	0.421875	up to	$	0.50625	76.9	%	23.1	%
Thereafter	above	$	0.50625				51.9	%	48.1	%