XML 40 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Equity (Tables)
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Schedule of Stockholders Equity [Table Text Block]
Changes to equity during the three months ended March 31, 2015, were as follows:
 
General
 
Common -
 
Common -
 
Subordinated -
 
 
 
Partner
 
Public
 
Western
 
Western
 
Total
 
(In thousands)
Balance at December 31, 2014
$
—

 
$
327,592

 
$
(94,583
)
 
$
(260,103
)
 
$
(27,094
)
Unit-based compensation
—

 
(92
)
 
—

 
—

 
(92
)
Distributions to partners declared
(16
)
 
(5,261
)
 
(2,713
)
 
(7,585
)
 
(15,575
)
Net income attributable to limited partners
—

 
5,183

 
2,671

 
7,469

 
15,323

Balance at March 31, 2015
$
(16
)
 
$
327,422

 
$
(94,625
)
 
$
(260,219
)
 
$
(27,438
)
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]
The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and our general partner (as the holder of our incentive distribution rights) based on the specified target distribution levels. The amounts set forth under the column heading "Marginal Percentage Interest in Distributions" are the percentage interests of our general partner and the unitholders in any available cash from operating surplus we distribute up to and including the corresponding amount in the column "Total Quarterly Distribution per Unit Target Amount". The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below assume our general partner has not transferred its incentive distribution rights and there are no arrearages on common units.
 
 
Total Quarterly Distribution
per Unit Target Amount
 
Marginal Percentage
Interest in Distributions
 
 
Unitholders
 
General Partner
Minimum Quarterly Distribution
 
$0.2875
 
100.0
%
 
—

First Target Distribution
 
above $0.2875 up to $0.3306
 
100.0
%
 
—

Second Target Distribution
 
above $0.3306 up to $0.3594
 
85.0
%
 
15.0
%
Third Target Distribution
 
above $0.3594 up to $0.4313
 
75.0
%
 
25.0
%
Thereafter
 
above $0.4313
 
50.0
%
 
50.0
%
Distributions Made to Limited Partner, by Distribution [Table Text Block]
The table below summarizes our 2015 quarterly distribution declarations, payments and scheduled payments through May 1, 2015:
 
2015
 
Declaration Date
 
Record Date
 
Payment Date
 
Distribution per Common and Subordinated Unit
First quarter
May 1
 
May 15
 
May 26
 
$
0.3475

Total
 
 
 
 
 
 
$
0.3475

The total quarterly cash distributions made to general and limited partners for the three months ended March 31, 2015 and 2014, respectively, is as follows:
 
Three Months Ended
 
March 31,
 
2015
 
2014
 
(In thousands, except per unit data)
General partners' distributions:
 
 
 
General partner's distributions
$
—

 
$
—

General partner's incentive distribution rights
16

 
—

Total general partner's distributions
$
16

 
$
—

 
 
 
 
Limited partners' earnings on common units:
 
 
 
Common
$
7,974

 
$
5,491

Subordinated
7,585

 
5,491

 Total limited partners' distributions
15,559

 
10,982

Total cash distributions
$
15,575

 
$
10,982

 
 
 
 
Cash distributions per limited partner unit
$
0.3325

 
$
0.2407