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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Transportation services and storage - third parties $ 52.9 $ 53.8 [1] $ 163.7 [2] $ 174.9 [1]
Transportation services and storage - related parties 29.8 28.1 [1] 82.5 [2] 86.0 [1]
Lease revenue - related parties 11.7 0.0 [1] 19.4 [2] 0.0 [1]
Total revenue 94.4 81.9 [1] 265.6 [2] 260.9 [1]
Costs and expenses        
Operations and maintenance – third parties 25.8 14.1 [1] 64.3 [2] 41.7 [1]
Operations and maintenance – related parties 8.4 7.5 [1] 26.6 [2] 22.6 [1]
General and administrative – third parties 1.0 2.2 [1] 5.6 [2] 6.4 [1]
General and administrative – related parties 8.6 7.4 [1] 25.2 [2] 22.3 [1]
Depreciation, amortization and accretion 8.9 9.1 [1] 28.0 [2],[3] 27.1 [1],[4]
Property and other taxes 3.6 2.6 [1] 11.2 [2] 10.3 [1]
Total costs and expenses 56.3 42.9 [1] 160.9 [2] 130.4 [1]
Operating income 38.1 39.0 [1] 104.7 [2] 130.5 [1]
Income from equity investments 41.2 21.4 [1] 117.1 [2] 70.2 [1]
Dividend income from cost investments 4.8 4.2 [1] 18.3 [2] 11.6 [1]
Other income 0.1 0.0 [1] 0.1 [2] 0.0 [1]
Investment, dividend and other income 46.1 25.6 [1] 135.5 [2] 81.8 [1]
Interest expense, net 9.7 2.8 [1] 22.0 [2] 7.8 [1]
Income before income taxes 74.5 61.8 [1] 218.2 [2] 204.5 [1]
Income tax expense 0.0 0.0 [1] 0.0 [2] 0.0 [1]
Net income 74.5 61.8 [1] 218.2 [2],[3],[5] 204.5 [1],[4]
Less: Net income attributable to Parent 0.0 3.0 [1] 3.0 [2] 11.4 [1]
Less: Net income attributable to noncontrolling interests 1.9 2.5 [1] 6.3 [2] 17.7 [1]
Net income attributable to the Partnership 72.6 56.3 [1] 208.9 [2] 175.4 [1]
Limited Partners' interest in net income attributable to the Partnership $ 55.0 $ 49.1 [1] $ 164.9 [2] $ 160.1 [1]
Net income per Limited Partner Unit - Basic and Diluted        
Distributions per Limited Partner unit (in dollars per share) $ 0.3180 $ 0.26375 [1] $ 0.9131 [2] $ 0.74880 [1]
Shell Pipeline Company L P        
Costs and expenses        
General partner's interest in net income attributable to the Partnership $ 17.6 $ 7.2 [1] $ 44.0 [2] $ 15.3 [1]
Common        
Costs and expenses        
Net income attributable to the Partnership $ 55.0 $ 30.4 $ 164.9 $ 97.4
Net income per Limited Partner Unit - Basic and Diluted        
Net income per Limited Partner unit (in dollars per share) $ 0.31 $ 0.28 [1] $ 0.93 [2] $ 0.98 [1]
Subordinated        
Costs and expenses        
Net income attributable to the Partnership   $ 18.7   $ 62.7
Net income per Limited Partner Unit - Basic and Diluted        
Net income per Limited Partner unit (in dollars per share) $ 0.00 $ 0.28 [1] $ 0.00 [2] $ 0.93 [1]
Common units – public        
Costs and expenses        
Net income     $ 83.9  
Weighted average Limited Partner Units outstanding - Basic and Diluted (in millions)        
Weighted average Limited Partner units outstanding - Common (in shares) 90.2 88.3 [1] 89.0 [2] 77.7 [1]
Common units – public | Shell Pipeline Company L P        
Costs and expenses        
Net income     $ 81.0  
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 21.5 [1] 89.0 [2] 21.5 [1]
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 67.5 [1] 0.0 [2] 67.5 [1]
[1] Prior period financial information has been retrospectively adjusted for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations.
[2] The financial information for the nine months ended September 30, 2017 reflects adjustments for the acquisition of the Shell Delta, Na Kika and Refinery Gas Pipeline Operations from January 1, 2017 through May 9, 2017.
[3] The financial information for the nine months ended September 30, 2017 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.