Subsequent Events

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Subsequent Event(s)

Subsequent Event(s)

We have evaluated events that occurred after December 31, 2016 through the issuance of these consolidated financial statements. Any material subsequent events that occurred during this time have been properly recognized or disclosed in the consolidated financial statements and accompanying notes.

Distribution

On February 14, 2017, we paid a cash distribution of $0.27700 per limited partner unit to unitholders of record on January 31, 2017, for the three months ended December 31, 2016. The total distribution paid was $58.6 million, with $24.5 million paid to our non-affiliated common unitholders and $24.6 million, $1.2 million and $8.3 million paid to SPLC for its common unit ownership, general partner interest and incentive distribution rights. See Note 10—Equity—Distributions to our Unitholders for more information.

Expiration of Subordination Period

On February 15, 2017, all of the subordinated units converted into common units following the payment of the cash distribution for the fourth quarter of 2016. Each of our 67,475,068 outstanding subordinated units converted into one common unit. The converted units will participate pro rata with the other common units in distributions of available cash. The conversion of the subordinated units does not impact the amount of cash distributions paid by us or the total number of outstanding units.