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CASH DISTRIBUTIONS
12 Months Ended
Dec. 31, 2013
CASH DISTRIBUTIONS  
CASH DISTRIBUTIONS

NOTE 13    CASH DISTRIBUTIONS

The Partnership makes cash distributions to its partners with respect to each calendar quarter within 45 days after the end of each quarter. Distributions are based on Available Cash, as defined in the Partnership Agreement, which includes all cash and cash equivalents of the Partnership and working capital borrowings less reserves established by the General Partner. The unitholders currently receive a quarterly distribution of $0.81 per common unit if and to the extent there is sufficient Available Cash.

As an incentive, the General Partner's percentage interest in quarterly distributions is increased after certain specified target levels are met. Currently, the combined general partner interest and incentive distribution interest payable to the General Partner is 15 percent to a maximum of 25 percent of all quarterly distributions of Available Cash that exceed target levels of $0.81 and $0.88, respectively, per common unit.

For the year ended December 31, 2013, the Partnership distributed $3.18 per common unit (2012 – $3.10 per common unit; 2011 – $3.04 per common unit) for a total of $188 million (2012 – $169 million; 2011 – $155 million). The distributions paid for the years ended December 31, 2013, 2012 and 2011 included no incentive distributions to the General Partner. Partnership income attributable to controlling interests is allocated to the General Partner and the limited partners in accordance with their respective partnership percentages, after giving effect to any priority income allocations for incentive distributions that are allocated 100 percent to the General Partner.