SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2016

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 18SUBSEQUENT EVENTS

Management of the Partnership has reviewed subsequent events through August 4, 2016, the date the financial statements were issued, and concluded there were no events or transactions during this period that would require recognition or disclosure in the consolidated financial statements other than what is disclosed here and/or those already disclosed in the preceding notes.

On July 21, 2016, the board of directors of our General Partner declared the Partnership’s second quarter 2016 cash distribution in the amount of $0.94 per common unit payable on August 12, 2016 to unitholders of record as of August 1, 2016. The declared distribution reflects a $0.05 per common unit increase to the Partnership’s first quarter 2016 quarterly distribution and will include an IDR payment to our General Partner amounting to approximately $2 million.

Northern Border declared its June 2016 distribution of $13 million on July 11, 2016, of which the Partnership will receive its 50 percent share or $6.5 million on July 29, 2016.

Great Lakes declared its second quarter 2016 distribution of $12 million on July 19, 2016, of which the Partnership will receive its 46.45 percent share or $6 million on August 1, 2016.