Long-Term Incentive Plan

3 Months Ended

Mar. 31, 2012

Long-Term Incentive Plan [Abstract]

Long-Term Incentive Plan

9. Long-Term Incentive Plan

     We have a long-term incentive plan ("LTIP") for certain of our employees and for directors of our general partner. The LTIP primarily consists of phantom units and, as of March 31, 2012, permits the grant of awards covering an aggregate of 4.7 million of our limited partner units. The remaining units available under the LTIP at March 31, 2012 total 1.2 million. The compensation committee of our general partner's board of directors administers the LTIP.

Our equity-based incentive compensation expense was as follows (in thousands):

		Three Months Ended
			March 31, 2011
		Equity		Liability
		Method		Method		Total
2009 awards	$	927	$	622	$	1,549
2010 awards		950		354		1,304
2011 awards		562		145		707
Retention awards		190		—		190
Total	$	2,629	$	1,121	$	3,750
Allocation of LTIP expense on our consolidated statements of income:
G&A expense					$	3,657
Operating expense						93
Total					$	3,750

		Three Months Ended
			March 31, 2012
		Equity		Liability
		Method		Method		Total
2010 awards	$	522	$	408	$	930
2011 awards		743		273		1,016
2012 awards		561		151		712
Retention awards		185		—		185
Total	$	2,011	$	832	$	2,843
Allocation of LTIP expense on our consolidated statements of income:
G&A expense					$	2,505
Operating expense						338
Total					$	2,843

     In January 2012, the cumulative amounts of the 2009 LTIP awards were settled by issuing 361,383 limited partner units and distributing those units to the LTIP participants. The minimum tax withholdings associated with this settlement and employer taxes of $13.0 million and $1.3 million, respectively, were paid in January 2012.

     In January 2012, the compensation committee of our general partner's board of directors approved 131,687 phantom unit awards pursuant to our LTIP. These awards have a three-year vesting period that will end on December 31, 2014.