Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

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

Disclosure of Unit-based Compensation Arrangements by Unit-based Payment Award

Unit-based compensation expense related to the Partnership that was included in our statements of combined consolidated operations was as follows (in thousands):



	Year ended December 31,
	2012		2011
Performance phantom units	$	961	$	333
Service phantom units	230		146
Total Unit-Based Compensation Expense	$	1,191	$	479

Schedule Of Unit-based Compensation, Performance Units Activity

A summary of our performance phantom unit award activity for the year ended December 31, 2012, is set forth below:

Schedule of Weighted Average Assumptions

Expected volatilities are based on the historical volatility of peer companies over approximately the last three years, and factors in TLLP volatility from the date of the Initial Offering, which is indicative of the performance period for the awards. Expected dividend yield assumes dividends or distributions are incorporated into the unit price movements of the peer group. The risk-free rate for periods within the performance period is based on the U.S. Treasury yield curve in effect at the time of grant. A summary of weighted average assumptions as of the grant date is presented below:



	2012			2011
Expected volatility	30		%	41		%
Expected forfeiture rate	—		%	—		%
Risk-free interest rate	0.34		%	0.79		%
Unit price on date of grant	$	33.38		$	23.11

Schedule Of Unit-based Compensation, Service Units Activity

A summary of our service phantom unit award activity for the year ended December 31, 2012 is set forth below:



	Number of Service Phantom Units		Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2012	14,073		$	23.24
Granted	5,770		36.41
Vested	(6,993	)	23.33
Forfeited	(3,557	)	28.52
Nonvested at December 31, 2012	9,293		29.33

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details

Number of Performance Phantom Units

Weighted-Average Grant Date Fair Value

Nonvested at January 1, 2012

Nonvested at December 31, 2012