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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Third parties $ 55.3 [1] $ 60.8 [2] $ 110.8 [1] $ 121.1 [2]
Related parties 31.5 [1] 26.0 [2] 60.4 [1] 57.9 [2]
Total revenue 86.8 [1] 86.8 [2] 171.2 [1] 179.0 [2]
Costs and expenses        
Operations and maintenance – third parties 22.9 [1] 14.9 [2] 38.5 [1] 27.6 [2]
Operations and maintenance – related parties 7.1 [1] 7.4 [2] 18.2 [1] 15.1 [2]
General and administrative – third parties 2.8 [1] 2.0 [2] 4.6 [1] 4.2 [2]
General and administrative – related parties 8.2 [1] 7.6 [2] 16.6 [1] 14.9 [2]
Depreciation, amortization and accretion 9.6 [1] 8.9 [2] 19.1 [1],[3] 18.0 [2],[4]
Property and other taxes 3.4 [1] 3.3 [2] 7.6 [1] 7.7 [2]
Total costs and expenses 54.0 [1] 44.1 [2] 104.6 [1] 87.5 [2]
Operating income 32.8 [1] 42.7 [2] 66.6 [1] 91.5 [2]
Income from equity investments 37.2 [1] 25.6 [2] 75.9 [1] 48.8 [2]
Dividend income from cost investments 6.2 [1] 4.6 [2] 13.5 [1] 7.4 [2]
Investment and dividend income 43.4 [1] 30.2 [2] 89.4 [1] 56.2 [2]
Interest expense, net 7.5 [1] 2.0 [2] 12.3 [1] 5.0 [2]
Income before income taxes 68.7 [1] 70.9 [2] 143.7 [1] 142.7 [2]
Income tax expense 0.0 [1] 0.0 [2] 0.0 [1] 0.0 [2]
Net income 68.7 [1] 70.9 [2] 143.7 [1],[3],[5] 142.7 [2],[4]
Less: Net income attributable to noncontrolling interests 1.0 [1] 4.6 [2] 3.0 [1] 8.4 [2]
Less: Net income attributable to noncontrolling interests 2.2 [1] 2.5 [2] 4.4 [1] 15.2 [2]
Net income attributable to the Partnership 65.5 [1] 63.8 [2] 136.3 [1] 119.1 [2]
Limited Partners' interest in net income attributable to the Partnership $ 51.2 [1] $ 58.8 [2] $ 109.9 [1] $ 111.0 [2]
Net income per Limited Partner Unit - Basic and Diluted:        
Distributions declared per Limited Partner Unit (in dollars per share) $ 0.30410 [1] $ 0.2500 [2] $ 0.5951 [1] $ 0.4850 [2]
Shell Pipeline Company L P        
Costs and expenses        
General partner's interest in net income attributable to the Partnership $ 14.3 [1] $ 5.0 [2] $ 26.4 [1] $ 8.1 [2]
Common        
Costs and expenses        
Net income attributable to the Partnership $ 51.2 $ 36.1 $ 109.9 $ 66.6
Net income per Limited Partner Unit - Basic and Diluted:        
Net income per Limited Partner Unit (in dollars per share) $ 0.29 [1] $ 0.35 [2] $ 0.62 [1] $ 0.71 [2]
Subordinated        
Costs and expenses        
Net income attributable to the Partnership   $ 22.7   $ 44.4
Net income per Limited Partner Unit - Basic and Diluted:        
Net income per Limited Partner Unit (in dollars per share) $ 0.00 [1] $ 0.34 [2] $ 0.00 [1] $ 0.66 [2]
Common units – public        
Costs and expenses        
Net income     $ 54.8  
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions):        
Weighted average Limited Partner Units outstanding - Common (in shares) 88.4 [1] 81.1 [2] 88.4 [1] 72.3 [2]
Common units – public | Shell Pipeline Company L P        
Costs and expenses        
Net income     $ 55.1  
Common units – SPLC | Shell Pipeline Company L P        
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions):        
Weighted average Limited Partner Units outstanding - Common (in shares) 89.0 [1] 21.5 [2] 88.9 [1] 21.5 [2]
Subordinated units – SPLC | Shell Pipeline Company L P        
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions):        
Weighted average Limited Partner Units outstanding - Subordinated (in shares) 0.0 [1] 67.5 [2] 0.0 [1] 67.5 [2]
[1] The 2017 financial information reflects adjustments for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations from January 1, 2017 through May 9, 2017.
[2] Prior period financial information has been retrospectively adjusted for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations.
[3] The 2017 financial information reflects adjustments for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations from January 1, 2017 through May 9, 2017.
[4] Prior period financial information has been retrospectively adjusted for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations.
[5] Prior period financial information has been retrospectively adjusted for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations.