Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

The total purchase price is as follows:



Cash payment for 57.8% interest in Cardinal	$	120,973
Fair value of the Partnership's previously owned 42.2% interest in Cardinal	87,613
Total	$	208,586

Assets and Liabilities Assumed in Acquisition

The remaining net assets retained by the Partnership were recorded at fair value of $43,100 in the following purchase price allocation:



Purchase price paid to acquire Talen's	$	103,368
Less proceeds received from Martin Resource Management for assets sold (described above)	(56,000		)
Less excess of carrying value of assets sold to Martin Resource Management over the purchase price paid by Martin Resource Management	(4,268		)
Total	$	43,100



Cash	$	5,096
Accounts and other receivables, net	1,932
Other current assets	685
Assets held for sale	3,578
Property, plant and equipment	23,656
Goodwill	15,465
Notes payable	(2,971		)
Current liabilities	(3,872		)
Other long-term obligations	(469		)
Total	$	43,100

The assets acquired by the Partnership were recorded in the Terminalling and Storage segment at fair value of $12,148 in the following purchase price allocation:



Inventory and other current assets	$	1,513
Property, plant and equipment	6,136
Other assets	5,113
Other accrued liabilities	(168		)
Other long-term obligations	(446		)
Total	$	12,148

Assets acquired and liabilities assumed were recorded in the Natural Gas Services segment at fair value in the following purchase price allocation which was finalized in the fourth quarter of 2014:



Restricted cash	$	17,566
Other current assets	9,385
Property, plant and equipment	390,895
Intangible and other assets	80,135
Project level finance debt	(282,087		)
Other current liabilities	(6,713		)
Other non-current liabilities	(595		)
Total	$	208,586

The Partnership recorded the purchase in the following allocation:



Property, plant and equipment	$	2,453
Current liabilities	(13		)
	$	2,440

The acquisition of the Blending and Packaging Assets was recorded at the historical carrying value of the assets at the acquisition date, which were as follows:



Accounts receivable, net	$	20,599
Inventory	18,730
Other current assets	769
Property, plant and equipment, net	24,692
Current liabilities	(2,424		)
Total	$	62,366

Assets acquired and liabilities assumed were recorded in the Sulfur Services segment at fair value as follows:



Inventory	$	162
Property, plant and equipment	4,000
Current liabilities	(44		)
Total	$	4,118

Pro Forma Information for Acquisition

The following pro forma unaudited consolidated results of operations have been prepared as if the acquisitions of Cardinal and WTLPG occurred at the beginning of fiscal 2013:



	Year Ended December 31,
	2014			2013
Revenue:
As reported	$	1,642,141		$	1,612,739
Pro forma	$	1,688,629		$	1,665,501
Net income (loss) from continuing operations attributable to limited partners:
As reported	$	(8,255	)	$	(14,227	)
Pro forma	$	1,676		$	(120,785	)
Net income (loss) from discontinued operations attributable to limited partners:
As reported	$	(6,921	)	$	1,180
Pro forma	$	(6,921	)	$	1,180
Net income (loss) from continuing operations per unit attributable to limited partners - basic
As reported	$	(0.27	)	$	(0.54	)
Pro forma	$	0.05		$	(4.55	)
Net income (loss) from discontinued operations per unit attributable to limited partners - basic
As reported	$	(0.22	)	$	0.04
Pro forma	$	(0.22	)	$	0.04
Net income (loss) from continuing operations per unit attributable to limited partners - diluted
As reported	$	(0.27	)	$	(0.54	)
Pro forma	$	0.05		$	(4.55	)
Net income (loss) from discontinued operations per unit attributable to limited partners - diluted
As reported	$	(0.22	)	$	0.04
Pro forma	$	(0.22	)	$	0.04