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UNIT-BASED COMPENSATION PLANS (Tables)
 3 Months Ended
Mar. 31, 2016
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
Unvested at January 1, 2016
1,011

 
$
68.20

Granted
631

 
53.32

Vested
(254
)
 
54.77

Forfeited
(4
)
 
68.77

Unvested at March 31, 2016
1,384

 
$
63.95
Summary of changes in options outstanding
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
per LP Unit
 
Weighted
Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value (1)
Outstanding at January 1, 2016
17

 
$
48.71

 
0.9
 
$
300

Exercised
(4
)
 
44.73

 
 
 
 

Forfeited, cancelled or expired
(1
)
 
44.73

 
 
 
 
Outstanding at March 31, 2016
12

 
50.36

 
0.9
 
$
216

 
 
 
 
 
 
 
 
Exercisable at March 31, 2016
12

 
$
50.36

 
0.9
 
$
216

                                                      
(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 March 2016 and the exercise price, multiplied by the number of exercisable, in-the-money options.