2.2.0.25falsefalse0226 - Disclosure - Subsequent Eventstruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 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$2true0bpl_SubsequentEventsAbstractbplfalsenadurationSubsequent Events.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringSubsequent Events.falsefalseSubsequent Events [Abstract]3false0us-gaap_ScheduleOfSubsequentEventsTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseverboselabel1falsefalsefalse00  <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>26. SUBSEQUENT EVENTS</b> </div> <div align="left" style="font-size: 10pt; margin-left: 1%; margin-top: 6pt"><b><i>BORCO Acquisition</i></b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     On December 18, 2010, we entered into a sale and purchase agreement with affiliates of First Reserve, pursuant to which we agreed to acquire First Reserve’s indirect 80% interest in FRBCH, the indirect owner of BORCO. On January 18, 2011, we completed the purchase of First Reserve’s 80% interest in FRBCH for approximately $1.4 billion of cash and equity. On February 16, 2011, Vopak, which owned the remaining 20% interest in FRBCH, sold its interest to us at the same proportionate price and on the same terms and conditions as those in our agreement with First Reserve for approximately $340.0 million of cash and equity. In aggregate, we paid approximately $1.7 billion in a combination of cash and equity to acquire 100% of BORCO. BORCO is the fourth largest oil and petroleum products storage terminal in the world and the largest petroleum products facility in the Caribbean with current storage capacity of 21.6 million barrels. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     On January 13, 2011, we sold the 4.875% Notes in an underwritten public offering. The notes were issued at 99.62% of their principal amount. Total proceeds from this offering, after underwriters’ fees, expenses and debt issuance costs of $4.5 million, were approximately $643.0 million, and were used to fund a portion of the purchase price for our acquisition of BORCO. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     On January 18 and 19, 2011, we issued 5,794,725 LP Units and 1,314,870 Class B Units to institutional investors for aggregate consideration of approximately $425.0 million to fund a portion of the BORCO acquisition. On January 18, 2011, we issued 2,483,444 LP Units and 4,382,889 Class B Units to First Reserve as $400.0 million of consideration to fund a portion of the acquisition of an indirect interest in FRBCH. On February 16, 2011, we issued 620,861 LP Units and 1,095,722 Class B Units to Vopak as $100.0 million of consideration to fund a portion of our acquisition of Vopak’s 20% interest in BORCO. The remaining purchase price was funded with cash on hand at closing and borrowings under our Credit Facility. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     The results of operations of the BORCO acquisition will be included in our consolidated financial statements at the date of acquisition and will be included in our International Operations segment. The acquisition cost will be allocated to assets acquired and liabilities assumed based on estimated preliminary fair values at the acquisition date, with amounts exceeding the fair value to be recorded as goodwill. We are in the process of preparing a fair value analysis of the assets acquired and liabilities assumed. We expect to finalize the purchase price allocation during 2011. </div> </div>  <!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 11 falsefalseSUBSEQUENT EVENTS12Subsequent EventsUnKnownUnKnownUnKnownUnKnownfalsetrue