Discontinued operations and divestitures

9 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued operations and divestitures

Discontinued operations and divestitures

Floating Storage Assets. On February 12, 2015, the Partnership sold all six of its 16,101 barrel liquefied petroleum gas ("LPG") pressure barges, collectively referred to as the "Floating Storage Assets." These assets were acquired on February 28, 2013. On December 19, 2014, the Partnership made the decision to dispose of the Floating Storage Assets. As a result, the Partnership classified the Floating Storage Assets as held for sale at December 31, 2014 and has presented the results of operations and cash flows of the Floating Storage Assets as discontinued operations for the three and nine months ended September 30, 2015 and 2014. The Partnership has retrospectively adjusted its prior period consolidated financial statements to comparably classify the amounts related to the operations and cash flows of the Floating Storage Assets as discontinued operations. The Floating Storage Assets were presented as discontinued operations under the guidance prior to the Partnership's adoption of ASU 2014-08 related to discontinued operations. The adoption of the amended guidance was effective for the Partnership January 1, 2015.

The Floating Storage Assets’ operating results, which are included in income from discontinued operations, were as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015		2014			2015		2014
Total revenues from third parties1	$	—	$	12,895		$	791	$	46,070
Total costs and expenses and other, net, excluding depreciation and amortization	—		13,776			1,038		48,066
Depreciation and amortization	—		286			—		1,052
Other operating income2	—		—			1,462		—
Income (loss) from discontinued operations before income taxes	—		(1,167		)	1,215		(3,048		)
Income tax expense	—		—			—		—
Income (loss) from discontinued operations, net of income taxes	$	—	$	(1,167	)	$	1,215	$	(3,048	)

¹ All revenues for the three months ended September 30, 2015 and 2014 were from third parties. Total revenues from third parties excludes intercompany revenues of $0 and $5,273 for the nine months ended September 30, 2015 and 2014, respectively.

² Other operating income represents the gain on the disposition of the Floating Storage Assets.