2.2.0.25falsefalse0225 - Disclosure - Quarterly Financial Data (Unaudited)truefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $Jan-01-2010_Dec-31-2010http://www.sec.gov/CIK0000805022duration2010-01-01T00:00:002010-12-31T00:00:00USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170SharesStandardhttp://www.xbrl.org/2003/instancesharesxbrli0USDEPSDividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0us-gaap_QuarterlyFinancialDataAbstractus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseQuarterly Financial Data (Unaudited) [Abstract]3false0us-gaap_QuarterlyFinancialInformationTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00  <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 6pt"><b>25. QUARTERLY FINANCIAL DATA (UNAUDITED)</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     Summarized quarterly financial data for the years ended December 31, 2010 and 2009 is set forth below (in thousands, except per LP Unit amounts). Quarterly results were influenced by seasonal and other factors inherent in our business. </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>First</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Second</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Third</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Fourth</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Quarter</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Quarter</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Quarter</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Quarter</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Total</b></td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>2010</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Revenue </div></td> <td> </td> <td align="right">$</td> <td align="right">731,174</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">667,276</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">734,857</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">1,017,961</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">3,151,268</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Operating income (1) </div></td> <td> </td> <td> </td> <td align="right">69,491</td> <td> </td> <td> </td> <td> </td> <td align="right">71,939</td> <td> </td> <td> </td> <td> </td> <td align="right">79,513</td> <td> </td> <td> </td> <td> </td> <td align="right">58,558</td> <td> </td> <td> </td> <td> </td> <td align="right">279,501</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Net income (1) </div></td> <td> </td> <td> </td> <td align="right">50,642</td> <td> </td> <td> </td> <td> </td> <td align="right">53,438</td> <td> </td> <td> </td> <td> </td> <td align="right">60,962</td> <td> </td> <td> </td> <td> </td> <td align="right">35,966</td> <td> </td> <td> </td> <td> </td> <td align="right">201,008</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Net income attributable to Buckeye Partners, L.P. (1) </div></td> <td> </td> <td> </td> <td align="right">11,270</td> <td> </td> <td> </td> <td> </td> <td align="right">11,507</td> <td> </td> <td> </td> <td> </td> <td align="right">11,941</td> <td> </td> <td> </td> <td> </td> <td align="right">8,362</td> <td> </td> <td> </td> <td> </td> <td align="right">43,080</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Earnings per LP unit — basic (2) </div></td> <td> </td> <td align="right">$</td> <td align="right">0.56</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.58</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.60</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.19</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">1.66</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Earnings per LP unit — diluted (2) </div></td> <td> </td> <td align="right">$</td> <td align="right">0.56</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.58</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.60</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.19</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">1.65</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>2009</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Revenue </div></td> <td> </td> <td align="right">$</td> <td align="right">416,840</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">351,220</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">423,444</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">578,868</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">1,770,372</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Operating income (loss) (3) </div></td> <td> </td> <td> </td> <td align="right">68,865</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">(35,432</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">74,889</td> <td> </td> <td> </td> <td> </td> <td align="right">95,478</td> <td> </td> <td> </td> <td> </td> <td align="right">203,800</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Net income (loss) (3) </div></td> <td> </td> <td> </td> <td align="right">53,696</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right"> </td> <td align="right">(48,384</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">58,370</td> <td> </td> <td> </td> <td> </td> <td align="right">77,955</td> <td> </td> <td> </td> <td> </td> <td align="right">141,637</td> <td> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap"> <div style="margin-left:30px; text-indent:-15px">Net income attributable to Buckeye Partners, L.P. (3) </div></td> <td> </td> <td> </td> <td align="right">10,149</td> <td> </td> <td> </td> <td> </td> <td align="right">9,772</td> <td> </td> <td> </td> <td> </td> <td align="right">11,095</td> <td> </td> <td> </td> <td> </td> <td align="right">18,578</td> <td> </td> <td> </td> <td> </td> <td align="right">49,594</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Earnings per LP unit — basic and diluted (2) </div></td> <td> </td> <td align="right">$</td> <td align="right">0.51</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.49</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.56</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">0.93</td> <td> </td> <td> </td> <td align="right">$</td> <td align="right">2.49</td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(1)</td> <td> </td> <td>The fourth quarter of 2010 includes $21.1 million of non-cash compensation expense related to the modification of an equity compensation plan (see Note 18).</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(2)</td> <td> </td> <td>Historical per unit amounts have been restated for the reverse unit split. Pursuant to the Merger, BGH’s unitholders received a total of approximately 20.0 million of Buckeye’s LP Units in the aggregate in exchange for all outstanding BGH common units and management units. As a result, the number of Buckeye’s LP Units outstanding increased from 51.6 million to 71.4 million. However, for historical reporting purposes, the impact of this change was accounted for as a reverse split of BGH’s units of 0.705 to 1.0, together with the addition of Buckeye’s existing LP Units. Therefore, since BGH was the surviving accounting entity, the weighted average number of LP Units outstanding used for basic and diluted earnings per LP Unit calculations are BGH’s historical weighted average common units outstanding adjusted for the reverse unit split and the addition of Buckeye’s existing LP Units. The sum of the per LP Unit amounts per quarter does not equal the amount presented for the year ended December 31, 2010 due to the effect of the Merger on the weighted average units outstanding calculation.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(3)</td> <td> </td> <td>The second quarter of 2009 includes an impairment charge of $72.5 million related to assets held for sale and reorganization expenses of $28.1 million. The fourth quarter of 2009 includes a reversal of $12.8 million of the previously recognized impairment charge. See Notes 8 and 3, respectively.</td> </tr> </table> <div align="left"> </div> </div>  <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. 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