NET INCOME PER COMMON UNIT (Tables)

3 Months Ended

Mar. 31, 2015

NET INCOME PER COMMON UNIT

Schedule of net income per common unit

	Three months ended
(unaudited)	March 31,
(millions of dollars, except per common unit amounts)	2015	2014
Net income attributable to controlling interests	57	57
Net income allocated to General Partner, including incentive distribution rights (IDRs) (a)	1	1
Net income allocable to common units	56	56
Weighted average common units outstanding (millions) – basic and diluted (b)	63.6	62.3
Net income per common unit – basic and diluted	$ 0.88	$ 0.90

(a) In the calculation of basic and diluted net income per common unit, the net income allocated to the General Partner includes IDRs pertaining to the current reporting period, but declared and paid in the subsequent period.

(b) Under the ATM program, the Partnership has issued 1,288,481 common units.