XML 72 R53.htm IDEA: XBRL DOCUMENT v3.3.1.900
UNIT-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Awards activity under the LTIP
The following table sets forth the LTIP activity for the periods indicated (in thousands, except per unit amounts):
 
Number of
LP Units
 
Weighted
Average
Grant Date
Fair Value
per LP Unit (1)
Unvested at January 1, 2014
813

 
$
59.36

Granted
409

 
71.79

Vested
(231
)
 
63.27

Forfeited
(85
)
 
63.92

Unvested at December 31, 2014
906

 
$
63.56

Granted
435

 
73.45

Vested
(312
)
 
62.08

Forfeited
(18
)
 
67.32

Unvested at December 31, 2015
1,011

 
$
68.20

____________________________
(1)
Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.  The weighted-average grant date fair value per LP Unit for forfeited and vested awards is determined before an allowance for forfeitures.
Summary of changes in LP Unit options outstanding, all of which are vested
The following is a summary of the changes in the options outstanding (all of which are vested) under the Option Plan for the periods indicated (in thousands, except per unit amounts):
 
Number of
LP Units
 
Weighted-
Average
Strike Price
($/LP Unit)
 
Weighted-
Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value (1)
 
 
 
 
 
 
 
 
Outstanding at January 1, 2014
46

 
$
47.32

 
2.4
 
$
1,080

Exercised
(18
)
 
46.62

 
 
 
 

Forfeited, cancelled or expired
(2
)
 
$
42.10

 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2014
26

 
$
48.18

 
1.6
 
$
703

Exercised
(5
)
 
47.38

 
 
 
 

Forfeited, cancelled or expired
(4
)
 
46.65

 
 
 
 

 
 
 
 
 
 
 
 
Outstanding at December 31, 2015
17

 
$
48.71

 
0.9
 
$
300

 
 
 
 
 
 
 
 
Exercisable at December 31, 2015
17

 
$
48.71

 
0.9
 
$
300

____________________________
(1)
Aggregate intrinsic value reflects fully vested LP Unit options at the date indicated. Intrinsic value is determined by calculating the difference between our closing LP Unit price on the last trading day in 2015 and the exercise price, multiplied by the number of exercisable, in-the-money options.