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Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 120.25 419.20 Td (MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 120.25 410.20 Td (RESULTS OF OPERATIONS) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 395.746337890625 m 137.09521484375 395.746337890625 l s q 0 0 1 rg BT 88.25 397.15 Td (Intr) Tj ET Q q 0 0 1 rg BT 103.59 397.15 Td (oduction) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 383.746337890625 m 170.97705078125 383.746337890625 l s q 0 0 1 rg BT 88.25 385.15 Td (Recent Developments) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 371.746337890625 m 171.24951171875 371.746337890625 l s q 0 0 1 rg BT 88.25 373.15 Td (Results of Operations) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 359.746337890625 m 182.2578125 359.746337890625 l s q 0 0 1 rg BT 88.25 361.15 Td (Distributable Cash Flow) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 347.746337890625 m 212.85693359375 347.746337890625 l s q 0 0 1 rg BT 88.25 349.15 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 1 rg BT 201.37 349.15 Td (ces) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 335.746337890625 m 215.2255859375 335.746337890625 l s q 0 0 1 rg BT 88.25 337.15 Td (Off-Balance Sheet ) Tj ET Q q 0 0 1 rg BT 159.74 337.15 Td (Arrangements) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 323.746337890625 m 146.0908203125 323.746337890625 l s q 0 0 1 rg BT 88.25 325.15 Td (Envir) Tj ET Q q 0 0 1 rg BT 110.09 325.15 Td (onmental) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 88.25 311.746337890625 m 134.8232421875 311.746337890625 l s q 0 0 1 rg BT 88.25 313.15 Td (Other) Tj ET Q q 0 0 1 rg BT 111.08 313.15 Td ( Items) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 301.15 Td (ITEM3.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 120.25 301.15 Td (QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 68.25 289.15 Td (ITEM4.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 120.25 289.15 Td (CONTROLS AND PROCEDURES) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 68.25 275.746337890625 m 181.99365234375 275.746337890625 l s q 0 0 1 rg BT 68.25 277.15 Td (Forward-Looking Statements) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 279.40 265.15 Td (P) Tj ET Q q 0 0 0 rg BT 284.23 265.15 Td (AR) Tj ET Q q 0 0 0 rg BT 296.91 265.15 Td (T) Tj ET Q q 0 0 0 rg BT 302.75 265.15 Td ( II) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 245.20 256.15 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 323.28 256.15 Td (TION) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 68.25 241.15 Td (ITEM 1.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 239.746337890625 m 219.5224609375 239.746337890625 l s q 0 0 1 rg BT 120.25 241.15 Td (LEGAL) Tj ET Q q 0 0 1 rg BT 151.26 241.15 Td ( PROCEEDINGS) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 229.15 Td (ITEM 1A.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 227.746337890625 m 186.68212890625 227.746337890625 l s q 0 0 1 rg BT 120.25 229.15 Td (RISK F) Tj ET Q q 0 0 1 rg BT 149.34 229.15 Td (ACT) Tj ET Q q 0 0 1 rg BT 168.18 229.15 Td (ORS) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 217.15 Td (ITEM 2.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 215.746337890625 m 438.326171875 215.746337890625 l s q 0 0 1 rg BT 120.25 217.15 Td (UNREGISTERED SALES OF) Tj ET Q q 0 0 1 rg BT 237.45 217.15 Td ( EQUITY) Tj ET Q q 0 0 1 rg BT 274.87 217.15 Td ( SECURITIES ) Tj ET Q q 0 0 1 rg BT 333.40 217.15 Td (AND USE OF) Tj ET Q q 0 0 1 rg BT 387.07 217.15 Td ( PROCEEDS) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 205.15 Td (ITEM 3.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 203.746337890625 m 288.04638671875 203.746337890625 l s q 0 0 1 rg BT 120.25 205.15 Td (DEF) Tj ET Q q 0 0 1 rg BT 137.58 205.15 Td (AUL) Tj ET Q q 0 0 1 rg BT 155.76 205.15 Td (TS UPON SENIOR SECURITIES) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 193.15 Td (ITEM 4.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 191.746337890625 m 247.9462890625 191.746337890625 l s q 0 0 1 rg BT 120.25 193.15 Td (MINE SAFETY) Tj ET Q q 0 0 1 rg BT 182.17 193.15 Td ( DISCLOSURES) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 181.15 Td (ITEM 5.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 179.746337890625 m 221.33740234375 179.746337890625 l s q 0 0 1 rg BT 120.25 181.15 Td (OTHER INFORMA) Tj ET Q q 0 0 1 rg BT 198.33 181.15 Td (TION) Tj ET Q BT /F2 9.00 Tf ET BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 68.25 169.15 Td (ITEM 6.) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 120.25 167.746337890625 m 163.76904296875 167.746337890625 l s q 0 0 1 rg BT 120.25 169.15 Td (EXHIBITS) Tj ET Q BT /F2 9.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 155.45 Td () Tj ET Q BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 647.81005859375 m 523.25 647.81005859375 l s q 0 0 1 rg BT 518.75 649.01 Td (2) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 635.81005859375 m 523.25 635.81005859375 l s q 0 0 1 rg BT 518.75 637.01 Td (3) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 623.81005859375 m 523.25 623.81005859375 l s q 0 0 1 rg BT 518.75 625.01 Td (4) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 611.81005859375 m 523.25 611.81005859375 l s q 0 0 1 rg BT 518.75 613.01 Td (5) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 587.81005859375 m 523.25 587.81005859375 l s q 0 0 1 rg BT 518.75 589.01 Td (6) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 575.81005859375 m 523.25 575.81005859375 l s q 0 0 1 rg BT 518.75 577.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 518.75 563.81005859375 m 523.25 563.81005859375 l s q 0 0 1 rg BT 518.75 565.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 551.81005859375 m 523.25 551.81005859375 l s q 0 0 1 rg BT 514.25 553.01 Td (10) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 514.55 541.01 Td (1) Tj ET Q q 0 0 0 rg BT 518.72 541.01 Td (1) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 527.81005859375 m 523.25 527.81005859375 l s q 0 0 1 rg BT 514.25 529.01 Td (12) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 515.81005859375 m 523.25 515.81005859375 l s q 0 0 1 rg BT 514.25 517.01 Td (13) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 503.81005859375 m 523.25 503.81005859375 l s q 0 0 1 rg BT 514.25 505.01 Td (14) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 491.81005859375 m 523.25 491.81005859375 l s q 0 0 1 rg BT 514.25 493.01 Td (19) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 479.81005859375 m 523.25 479.81005859375 l s q 0 0 1 rg BT 514.25 481.01 Td (20) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 467.81005859375 m 523.25 467.81005859375 l s q 0 0 1 rg BT 514.25 469.01 Td (21) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 455.81005859375 m 523.25 455.81005859375 l s q 0 0 1 rg BT 514.25 457.01 Td (21) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 443.81005859375 m 523.25 443.81005859375 l s q 0 0 1 rg BT 514.25 445.01 Td (23) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 431.81005859375 m 523.25 431.81005859375 l s q 0 0 1 rg BT 514.25 433.01 Td (23) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 395.81005859375 m 523.25 395.81005859375 l s q 0 0 1 rg BT 514.25 397.01 Td (24) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 383.81005859375 m 523.25 383.81005859375 l s q 0 0 1 rg BT 514.25 385.01 Td (24) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 371.81005859375 m 523.25 371.81005859375 l s q 0 0 1 rg BT 514.25 373.01 Td (24) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 359.81005859375 m 523.25 359.81005859375 l s q 0 0 1 rg BT 514.25 361.01 Td (27) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 347.81005859375 m 523.25 347.81005859375 l s q 0 0 1 rg BT 514.25 349.01 Td (28) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 335.81005859375 m 523.25 335.81005859375 l s q 0 0 1 rg BT 514.25 337.01 Td (29) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 323.81005859375 m 523.25 323.81005859375 l s q 0 0 1 rg BT 514.25 325.01 Td (30) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 311.81005859375 m 523.25 311.81005859375 l s q 0 0 1 rg BT 514.25 313.01 Td (30) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 299.81005859375 m 523.25 299.81005859375 l s q 0 0 1 rg BT 514.25 301.01 Td (32) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 287.81005859375 m 523.25 287.81005859375 l s q 0 0 1 rg BT 514.25 289.01 Td (33) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 275.81005859375 m 523.25 275.81005859375 l s q 0 0 1 rg BT 514.25 277.01 Td (34) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 239.81005859375 m 523.25 239.81005859375 l s q 0 0 1 rg BT 514.25 241.01 Td (36) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i [] 0 d 1 J 1 j 3 M 514.25 227.81005859375 m 523.25 227.81005859375 l s q 0 0 1 rg BT 514.25 229.01 Td (36) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET 0 0 1 RG /GS0 gs 0.44 w 0 i 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.75 632.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 251.57 632.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 286.13 632.25 Td (A) Tj ET Q q 0 0 0 rg BT 292.60 632.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 357.52 632.25 Td ( INCOME) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.05 620.25 Td (\(In thousands, except per) Tj ET Q q 0 0 0 rg BT 319.66 620.25 Td ( unit amounts\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 608.25 Td (\(Unaudited\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 297.00 597.45 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 560.95 m 447.5 560.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 560.95 m 451.5 560.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 560.95 m 502.5 560.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 560.95 m 447.5 560.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 547.95 m 447.5 547.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 560.95 m 502.5 560.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 547.95 m 502.5 547.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 547.95 m 447.5 547.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 547.95 m 502.5 547.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 502.95000000000005 m 447.5 502.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 502.95000000000005 m 502.5 502.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 412.95000000000005 m 447.5 412.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 412.95000000000005 m 502.5 412.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 382.95000000000005 m 447.5 382.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 382.95000000000005 m 502.5 382.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 292.95000000000005 m 447.5 292.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 292.95000000000005 m 502.5 292.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 292.95000000000005 m 447.5 292.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 262.95000000000005 m 447.5 262.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 248.95000000000005 m 447.5 248.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 246.95000000000005 m 447.5 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 262.95000000000005 m 502.5 262.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 248.95000000000005 m 502.5 248.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 246.95000000000005 m 502.5 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 246.95000000000005 m 447.5 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 248.95000000000005 m 447.5 248.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 224.95000000000005 m 447.5 224.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 222.95000000000005 m 447.5 222.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 246.95000000000005 m 502.5 246.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 248.95000000000005 m 502.5 248.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 224.95000000000005 m 502.5 224.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 222.95000000000005 m 502.5 222.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 222.95000000000005 m 447.5 222.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 224.95000000000005 m 447.5 224.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 200.95000000000005 m 447.5 200.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 198.95000000000005 m 447.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 222.95000000000005 m 502.5 222.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 224.95000000000005 m 502.5 224.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 200.95000000000005 m 502.5 200.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 198.95000000000005 m 502.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 198.95000000000005 m 447.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 200.95000000000005 m 447.5 200.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 176.95000000000005 m 447.5 176.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 174.95000000000005 m 447.5 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 198.95000000000005 m 502.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 200.95000000000005 m 502.5 200.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 176.95000000000005 m 502.5 176.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 174.95000000000005 m 502.5 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 174.95000000000005 m 447.5 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 176.95000000000005 m 447.5 176.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 152.95000000000005 m 447.5 152.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 150.95000000000005 m 447.5 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 174.95000000000005 m 502.5 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 176.95000000000005 m 502.5 176.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 152.95000000000005 m 502.5 152.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 150.95000000000005 m 502.5 150.95000000000005 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.05 578.35 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 93.00 565.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.30 565.35 Td (March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 93.00 552.20 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.50 552.18 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 468.50 552.18 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 537.41 Td (Transportation and terminals revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 227.50 537.21 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 537.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 537.41 Td (353,812) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 537.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 537.41 Td (370,075) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 522.41 Td (Product sales revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 173.50 522.21 Td (..............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 522.41 Td (173,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 522.41 Td (146,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 507.41 Td (Affiliate management fee revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 216.25 507.21 Td (...........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.75 507.41 Td (3,363) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.75 507.41 Td (3,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 129.00 492.41 Td (Total revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.25 492.21 Td (...........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 492.41 Td (530,302) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 492.41 Td (519,816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 477.41 Td (Costs and expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 111.00 462.41 Td (Operating) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.75 462.21 Td (.........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 462.41 Td (106,707) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 462.41 Td (123,233) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 111.00 447.41 Td (Cost of product sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 187.00 447.21 Td (........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 447.41 Td (136,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 447.41 Td (113,585) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 111.00 432.41 Td (Depreciation and amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 220.75 432.21 Td (.........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.25 432.41 Td (41,697) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.25 432.41 Td (43,754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 111.00 417.41 Td (General and administrative) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 209.50 417.21 Td (..............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.25 417.41 Td (35,498) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.25 417.41 Td (40,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 129.00 402.41 Td (Total costs and expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 218.50 402.21 Td (..........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 402.41 Td (320,081) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 402.41 Td (321,446) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 387.41 Td (Earnings of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 218.50 387.21 Td (..........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.75 387.41 Td (9,590) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.25 387.41 Td (17,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 372.41 Td (Operating profit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.25 372.21 Td (.......................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 372.41 Td (219,811) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 372.41 Td (215,998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 357.41 Td (Interest expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.25 357.21 Td (.......................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.25 357.41 Td (37,194) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.25 357.41 Td (43,724) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 342.41 Td (Interest income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.75 342.21 Td (.........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.50 342.41 Td (\(349) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.00 342.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.50 342.41 Td (\(361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 342.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 327.41 Td (Interest capitalized) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 162.25 327.21 Td (...................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.75 327.41 Td (\(2,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.00 327.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 327.41 Td (\(6,136) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 327.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 312.41 Td (Gain on exchange of interest in non-controlled entity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 312.41 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.25 312.41 Td (\(26,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 312.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 297.41 Td (Other expense \(income\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.25 297.21 Td (...........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 297.41 Td (279) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.75 297.41 Td (\(2,270) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 297.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 282.41 Td (Income before provision for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 245.50 282.21 Td (..............................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 282.41 Td (184,794) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 282.41 Td (207,941) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 267.41 Td (Provision for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 191.50 267.21 Td (......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.75 267.41 Td (1,158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.50 267.41 Td (871) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.00 252.41 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.00 252.21 Td (....................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 252.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 252.41 Td (183,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 252.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 252.41 Td (207,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 228.41 Td (Basic net income per limited partner unit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.00 228.21 Td (................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 228.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 228.41 Td (0.81) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 228.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.25 228.41 Td (0.91) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 204.41 Td (Diluted net income per limited partner unit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 247.75 204.21 Td (.............................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 204.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 204.41 Td (0.81) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 204.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.25 204.41 Td (0.91) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 189.41 Td (W) Tj ET Q q 0 0 0 rg BT 100.77 189.41 Td (eighted average number of limited partner units outstanding used for basic net ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 180.41 Td (income per unit calculation) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 200.21 184.49 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 207.25 180.21 Td (...............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 180.41 Td (227,525) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 180.41 Td (227,826) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 93.00 165.41 Td (W) Tj ET Q q 0 0 0 rg BT 100.77 165.41 Td (eighted average number of limited partner units outstanding used for diluted ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 156.41 Td (net income per unit calculation) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 213.46 160.49 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 220.75 156.21 Td (.........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 156.41 Td (227,525) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.75 156.41 Td (227,849) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 130.85 Td ( ) Tj ET Q q 0 0 0 rg BT 99.00 130.85 Td (\(1\) See Note 10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.43 130.85 Td (Long-T) Tj ET Q q 0 0 0 rg BT 178.26 130.85 Td (erm Incentive Plan) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.12 130.85 Td ( for additional information regarding our weighted average unit calculations.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 76.85 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 704.25 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 704.25 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 704.25 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 704.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.75 692.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 205.57 692.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 240.13 692.25 Td (A) Tj ET Q q 0 0 0 rg BT 246.60 692.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 311.52 692.25 Td ( COMPREHENSIVE INCOME) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.55 680.25 Td (\(Unaudited, in thousands\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 669.45 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 637.95 m 446 637.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 637.95 m 450 637.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 637.95 m 496 637.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 637.95 m 446 637.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 624.95 m 446 624.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 637.95 m 496 637.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 624.95 m 496 624.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 624.95 m 446 624.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 624.95 m 496 624.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 495.95 m 446 495.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 495.95 m 496 495.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 480.95 m 496 480.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 480.95 m 446 480.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 466.95 m 446 466.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 464.95 m 446 464.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 480.95 m 496 480.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 466.95 m 496 466.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 464.95 m 496 464.95 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.50 642.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 406.55 650.35 Td (Three Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.80 641.35 Td (March 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 99.50 629.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 413.50 629.35 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 463.50 629.35 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 99.50 614.41 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 142.25 614.21 Td (.................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.50 614.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.85 614.41 Td (183,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.50 614.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.85 614.41 Td (207,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 99.50 599.41 Td (Other comprehensive income:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 117.50 584.41 Td (Derivative activity:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 135.50 569.41 Td (Net loss on cash flow hedges) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 240.23 573.49 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.00 569.21 Td (..................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.40 569.41 Td (\(15,465) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.15 569.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.40 569.41 Td (\(12,478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.15 569.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 135.50 555.41 Td (Reclassification of net loss on cash flow hedges to income) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 345.70 559.49 Td (\(1\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.98 555.41 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.75 555.21 Td (...................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.65 555.41 Td (200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.65 555.41 Td (388) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 117.50 539.41 Td (Changes in employee benefit plan assets and benefit obligations recognized) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.50 530.41 Td (in other comprehensive income:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 135.50 515.41 Td (Amortization of prior service credit) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 263.45 519.49 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 270.50 515.21 Td (........................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.65 515.41 Td (\(928) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.15 515.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.65 515.41 Td (\(973) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.15 515.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 135.50 500.41 Td (Amortization of actuarial loss) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 242.72 504.49 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.25 500.21 Td (.................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.90 500.41 Td (1,572) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.90 500.41 Td (1,401) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.50 485.41 Td (Total other comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.50 485.21 Td (............................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.40 485.41 Td (\(14,621) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.15 485.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.40 485.41 Td (\(11,662) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.15 485.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 99.50 470.41 Td (Comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 185.00 470.21 Td (..............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.50 470.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.85 470.41 Td (169,015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.50 470.41 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.85 470.41 Td (195,408) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.50 447.85 Td (\(1\) See Note 8) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 171.93 447.85 Td (Derivative Financial Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.57 447.85 Td ( for details of the amount of gain/loss recognized in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 438.25 Td (accumulated other comprehensive loss \(AOCL\) for derivative financial instruments and the amount ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 428.65 Td (of gain/loss reclassified from ) Tj ET Q q 0 0 0 rg BT 229.64 428.65 Td (AOCL) Tj ET Q q 0 0 0 rg BT 251.13 428.65 Td ( into income.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.50 410.05 Td (\(2\) See Note 6) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 171.93 410.05 Td (Employee Benefit Plans) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.35 410.05 Td ( for details of the changes in employee benefit plan assets and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 400.45 Td (benefit obligations recognized in ) Tj ET Q q 0 0 0 rg BT 241.64 400.45 Td (AOCL.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 97.45 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 704.25 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 704.25 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 704.25 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 704.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.40 692.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 270.22 692.25 Td (TED BALANCE SHEETS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.00 680.25 Td (\(In thousands\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 105.25 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 648.75 m 447.75 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 648.75 m 516.75 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 540.75 m 447.75 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 540.75 m 516.75 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 504.75 m 447.75 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 504.75 m 516.75 504.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 412.75 m 447.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 412.75 m 516.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 401.75 m 447.75 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 399.75 m 447.75 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 401.75 m 516.75 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 399.75 m 516.75 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 244.75 m 447.75 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 244.75 m 516.75 244.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 128.75 m 447.75 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 128.75 m 516.75 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 116.75 m 447.75 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 116.75 m 516.75 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 105.75 m 447.75 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383.75 103.75 m 447.75 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 105.75 m 516.75 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.75 103.75 m 516.75 103.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.05 661.15 Td (December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 406.25 652.15 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.55 661.15 Td (March 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.25 652.15 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 207.45 640.15 Td (ASSETS) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 460.95 640.15 Td (\(Unaudited\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 628.06 Td (Current assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 618.01 Td (Cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 182.25 618.01 Td (........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.25 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 618.01 Td (28,731) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 618.01 Td (209,992) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 605.21 Td (Trade accounts receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.00 605.01 Td (.........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 605.21 Td (83,893) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 605.21 Td (89,662) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 592.01 Td (Other accounts receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.00 592.01 Td (.........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 592.01 Td (12,701) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 592.01 Td (19,236) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 580.01 Td (Inventory) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 121.50 580.01 Td (...................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 580.01 Td (130,868) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 580.01 Td (132,088) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 568.01 Td (Energy commodity derivatives contracts, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 247.50 568.01 Td (...........................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 568.01 Td (39,243) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 568.01 Td (17,761) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 556.01 Td (Energy commodity derivatives deposits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 556.01 Td (...................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 556.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.00 556.01 Td (2,912) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 544.01 Td (Other current assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 159.75 544.01 Td (..................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 544.01 Td (43,418) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 544.01 Td (43,880) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 532.01 Td (Total current assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.50 532.01 Td (...........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 532.01 Td (338,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 532.01 Td (515,531) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 520.01 Td (Property, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 520.01 Td (..........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 520.01 Td (6,166,766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 520.01 Td (6,302,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 508.01 Td (Less: Accumulated depreciation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.50 508.01 Td (...............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 508.01 Td (1,347,537) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 508.01 Td (1,388,690) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 496.01 Td (Net property, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 496.01 Td (...................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 496.01 Td (4,819,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 496.01 Td (4,913,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 484.01 Td (Investments in non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.75 484.01 Td (..............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 484.01 Td (765,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 484.01 Td (800,380) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 472.01 Td (Long-term receivables) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.75 472.01 Td (......................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 472.01 Td (20,374) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 472.01 Td (20,726) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 460.01 Td (Goodwill) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 103.50 460.01 Td (...........................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 460.01 Td (53,260) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 460.01 Td (53,260) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 448.01 Td (Other intangibles \(less accumulated amortization of $13,709 and $14,388 at) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.25 439.06 Td (December31, 2015 and March 31, 2016, respectively\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.00 441.21 Td (1,856) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 441.21 Td (44,882) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 428.01 Td (Tank bottoms) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 119.25 428.01 Td (....................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 428.01 Td (27,533) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 428.01 Td (28,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 416.01 Td (Other noncurrent assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 155.25 416.01 Td (....................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 416.01 Td (14,833) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 416.01 Td (15,577) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 404.01 Td (Total assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 146.25 404.01 Td (........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.25 404.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 404.01 Td (6,041,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 404.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 404.01 Td (6,392,314) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 139.00 380.15 Td (LIABILITIES AND PARTNERS CAPITAL) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 368.01 Td (Current liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 356.01 Td (Accounts payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.75 356.01 Td (......................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.25 356.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 356.01 Td (104,094) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 356.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 356.01 Td (102,858) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 344.01 Td (Accrued payroll and benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 191.25 344.01 Td (....................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 344.01 Td (51,764) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 344.01 Td (34,901) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 332.01 Td (Accrued interest payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.75 332.01 Td (..........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 332.01 Td (51,296) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 332.01 Td (47,931) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 320.01 Td (Accrued taxes other than income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.75 320.01 Td (..............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 320.01 Td (51,587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 320.01 Td (40,486) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 308.01 Td (Environmental liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 175.50 308.01 Td (...........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 308.01 Td (15,679) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 308.01 Td (16,617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 296.01 Td (Deferred revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.75 296.01 Td (......................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 296.01 Td (81,627) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 296.01 Td (95,614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 284.01 Td (Accrued product purchases) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.50 284.01 Td (.......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 284.01 Td (31,339) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 284.01 Td (21,665) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 272.01 Td (Energy commodity derivatives deposits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 272.01 Td (...................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 272.01 Td (24,252) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.00 272.01 Td (6,903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 260.01 Td (Current portion of long-term debt, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 222.75 260.01 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 260.01 Td (250,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 260.01 Td (250,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 248.01 Td (Other current liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 171.00 248.01 Td (.............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 248.01 Td (51,099) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 248.01 Td (61,890) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 236.01 Td (Total current liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.75 236.01 Td (......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.00 236.01 Td (713,072) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.00 236.01 Td (679,094) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 224.01 Td (Long-term debt, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 141.75 224.01 Td (..........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 224.01 Td (3,189,287) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 224.01 Td (3,552,032) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 212.01 Td (Long-term pension and benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.50 212.01 Td (.......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 212.01 Td (77,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 212.01 Td (84,385) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 200.01 Td (Other noncurrent liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 166.50 200.01 Td (...............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 200.01 Td (24,162) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 200.01 Td (23,438) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 188.01 Td (Environmental liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 157.50 188.01 Td (...................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.50 188.01 Td (15,759) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.50 188.01 Td (15,783) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 176.01 Td (Commitments and contingencies) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.25 164.01 Td (Partners capital:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 152.01 Td (Limited partner unitholders \(227,427 units and 227,781 units outstanding at) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 95.25 143.06 Td (December 31, 2015 and March 31, 2016, respectively\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 143.06 Td (.......................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 145.21 Td (2,118,086) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 145.21 Td (2,145,594) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 86.25 132.01 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.50 132.01 Td (...................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.50 132.01 Td (\(96,350) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.25 132.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.00 132.01 Td (\(108,012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 513.25 132.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 120.01 Td (Total partners capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.50 120.01 Td (.......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 120.01 Td (2,021,736) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 120.01 Td (2,037,582) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 104.25 108.01 Td (Total liabilities and partners capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 234.00 108.01 Td (.................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.25 108.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.25 108.01 Td (6,041,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 108.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.25 108.01 Td (6,392,314) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 83.65 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 704.25 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 704.25 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 704.25 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 704.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.65 692.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 239.47 692.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 274.02 692.25 Td (A) Tj ET Q q 0 0 0 rg BT 280.50 692.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 345.42 692.25 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.55 680.25 Td (\(Unaudited, in thousands\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 649.75 m 466.5 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 649.75 m 470.5 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 649.75 m 531.5 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 639.75 m 466.5 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 639.75 m 531.5 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 397.75 m 466.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 397.75 m 531.5 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 329.75 m 466.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 329.75 m 531.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 241.75 m 466.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 241.75 m 531.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 230.75 m 466.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 230.75 m 531.5 230.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 208.75 m 466.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 208.75 m 531.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 198.75 m 466.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 196.75 m 466.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 198.75 m 531.5 198.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 196.75 m 531.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 125.75 m 466.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 125.75 m 531.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 125.75 m 466.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 115.75 m 466.5 115.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405.5 113.75 m 466.5 113.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 125.75 m 531.5 125.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 115.75 m 531.5 115.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 113.75 m 531.5 113.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 427.05 661.20 Td (Three Months Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.30 651.20 Td (March 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.50 641.20 Td (2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 491.50 641.20 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 631.06 Td (Operating Activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 620.06 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 127.50 620.06 Td (..........................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 620.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.75 620.06 Td (183,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 620.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 620.06 Td (207,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 609.06 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 598.06 Td (Depreciation and amortization expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 598.06 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 598.06 Td (41,697) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 598.06 Td (43,754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 587.06 Td (Loss \(gain\) on sale and retirement of assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 258.00 587.06 Td (................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.50 587.06 Td (\(3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 587.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 587.06 Td (2,259) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 576.06 Td (Earnings of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 228.75 576.06 Td (.............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 576.06 Td (\(9,590) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 576.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 576.06 Td (\(17,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 576.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 565.06 Td (Distributions of earnings from investments in non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.25 565.06 Td (.......................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 565.06 Td (9,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 565.06 Td (17,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 554.06 Td (Equity-based incentive compensation expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.25 554.06 Td (...........................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 554.06 Td (4,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 554.06 Td (6,650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 543.06 Td (Amortization of prior service credit and actuarial loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.25 543.06 Td (...............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 543.06 Td (644) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 543.06 Td (428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 532.06 Td (Gain on exchange of interest in non-controlled entity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 532.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 532.06 Td (\(26,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 532.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 521.06 Td (Changes in operating assets and liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 510.06 Td (Trade accounts receivable and other accounts receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 510.06 Td (................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 510.06 Td (\(12,194) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 510.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.75 510.06 Td (\(6,904) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 510.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 499.06 Td (Inventory) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 499.06 Td (...........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 499.06 Td (\(3,187) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 499.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.75 499.06 Td (\(1,220) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 499.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 488.06 Td (Energy commodity derivatives contracts, net of derivatives deposits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.50 488.06 Td (..............) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 488.06 Td (\(5,804) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 488.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.50 488.06 Td (\(132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 488.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 477.06 Td (Accounts payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 477.06 Td (..............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 477.06 Td (\(4,351) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 477.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 477.06 Td (1,052) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 466.06 Td (Accrued payroll and benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.00 466.06 Td (............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 466.06 Td (\(16,579) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 466.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 466.06 Td (\(16,863) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 466.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 455.06 Td (Accrued interest payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.50 455.06 Td (..................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 455.06 Td (\(173) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 455.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.75 455.06 Td (\(3,365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 455.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 444.06 Td (Accrued taxes other than income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 444.06 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 444.06 Td (\(5,801) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 444.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 444.06 Td (\(11,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 444.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 433.06 Td (Accrued product purchases) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.25 433.06 Td (...............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 433.06 Td (\(6,402) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 433.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.75 433.06 Td (\(9,674) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 433.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 422.06 Td (Deferred revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 422.06 Td (..............................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 422.06 Td (4,778) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 422.06 Td (13,987) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 411.06 Td (Current and noncurrent environmental liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.75 411.06 Td (.............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.00 411.06 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 411.06 Td (962) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 400.06 Td (Other current and noncurrent assets and liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.25 400.06 Td (...........................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 400.06 Td (10,417) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 400.06 Td (9,896) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 144.00 389.06 Td (Net cash provided by operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 291.75 389.06 Td (.................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.75 389.06 Td (191,083) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 389.06 Td (209,568) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 378.06 Td (Investing Activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 367.01 Td (Additions to property) Tj ET Q q 0 0 0 rg BT 160.91 367.01 Td (, plant and equipment, net) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 254.38 371.09 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.50 367.01 Td (..............................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 367.01 Td (\(128,517) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 367.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 367.01 Td (\(139,522) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 367.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 354.06 Td (Proceeds from sale and disposition of assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 354.06 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 354.06 Td (3,089) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 354.06 Td (17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 343.06 Td (Investments in non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 222.00 343.06 Td (................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 343.06 Td (\(13,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 343.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 343.06 Td (\(61,738) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 343.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 332.06 Td (Distributions in excess of earnings of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 303.00 332.06 Td (............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 332.06 Td (4,613) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 332.06 Td (2,212) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 144.00 321.06 Td (Net cash used by investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.00 321.06 Td (........................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 321.06 Td (\(134,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 321.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 321.06 Td (\(199,031) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 321.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 310.06 Td (Financing Activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 299.06 Td (Distributions paid) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.00 299.06 Td (................................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 299.06 Td (\(158,061) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 299.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 299.06 Td (\(178,808) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 299.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 288.06 Td (Net commercial paper repayments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.50 288.06 Td (......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 288.06 Td (\(296,942) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 288.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 288.06 Td (\(279,961) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 288.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 277.06 Td (Borrowings under long-term notes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.50 277.06 Td (......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.75 277.06 Td (499,589) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 277.06 Td (649,187) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 266.06 Td (Debt placement costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 266.06 Td (...........................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.75 266.06 Td (\(4,661) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 266.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.75 266.06 Td (\(5,318) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 266.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 255.06 Td (Net payment on financial derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.50 255.06 Td (..................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 255.06 Td (\(42,908) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 255.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 255.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 244.06 Td (Settlement of tax withholdings on long-term incentive compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.25 244.06 Td (...............................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 244.06 Td (\(17,784) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 244.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.25 244.06 Td (\(14,376) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 244.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 144.00 233.06 Td (Net cash provided \(used\) by financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.50 233.06 Td (......................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.25 233.06 Td (\(20,767) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 233.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 233.06 Td (170,724) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 222.06 Td (Change in cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 199.50 222.06 Td (..........................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 222.06 Td (35,750) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 222.06 Td (181,261) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 211.06 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.50 211.06 Td (......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 211.06 Td (17,063) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 211.06 Td (28,731) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 200.06 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 200.06 Td (.................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 200.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 200.06 Td (52,813) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 200.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.75 200.06 Td (209,992) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 181.06 Td (Supplemental non-cash investing and financing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 78.00 170.06 Td (Contribution of property, plant and equipment to a non-controlled entity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 170.06 Td (............................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 170.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.25 170.06 Td (13,252) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 170.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 519.00 170.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 78.00 159.06 Td (Issuance of limited partner units in settlement of equity-based incentive plan awards) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.75 159.06 Td (.........) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 159.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.75 159.06 Td (8,045) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 159.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.75 159.06 Td (7,092) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 66.00 145.09 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.82 141.01 Td ( ) Tj ET Q q 0 0 0 rg BT 76.82 141.01 Td (Additions to property) Tj ET Q q 0 0 0 rg BT 153.73 141.01 Td (, plant and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.25 141.01 Td (...........................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 141.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 141.01 Td (\(127,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 141.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 141.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 141.01 Td (\(139,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 141.01 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 78.00 128.06 Td (Changes in accounts payable and other current liabilities related to capital expenditures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 393.00 128.06 Td (....) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 128.06 Td (\(808) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 128.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 128.06 Td (114) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 78.00 117.06 Td (Additions to property, plant and equipment, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 249.00 117.06 Td (....................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.00 117.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 117.06 Td (\(128,517) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.00 117.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.00 117.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.75 117.06 Td (\(139,522) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.00 117.06 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 93.65 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.30 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 202.52 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 209.01 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 279.11 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 358.29 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 372.28 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 378.76 684.00 Td (TEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 647.10 Td (Organization, Description of Business and Basis of Pr) Tj ET Q q 0 0 0 rg BT 313.67 647.10 Td (esentation) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 629.10 Td (Or) Tj ET Q q 0 0 0 rg BT 96.24 629.10 Td (ganization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 612.10 Td (Unless indicated otherwise, the terms our) Tj ET Q q 0 0 0 rg BT 256.55 612.10 Td (, we, us and similar language refer to Magellan Midstream ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 600.10 Td (Partners, L.P) Tj ET Q q 0 0 0 rg BT 113.83 600.10 Td (. together with its subsidiaries. ) Tj ET Q q 0 0 0 rg BT 238.36 600.10 Td (W) Tj ET Q q 0 0 0 rg BT 246.99 600.10 Td (e are a Delaware limited partnership and our limited partner units are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 588.10 Td (traded on the New ) Tj ET Q q 0 0 0 rg BT 138.71 588.10 Td (Y) Tj ET Q q 0 0 0 rg BT 144.93 588.10 Td (ork Stock Exchange under the ticker symbol MMP) Tj ET Q q 0 0 0 rg BT 351.84 588.10 Td (. Magellan GP) Tj ET Q q 0 0 0 rg BT 413.21 588.10 Td (, LLC, a wholly-owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 576.10 Td (Delaware limited liability company) Tj ET Q q 0 0 0 rg BT 204.25 576.10 Td (, serves as our general partner) Tj ET Q q 0 0 0 rg BT 323.09 576.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 552.10 Td (Description of Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 528.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 528.10 Td (e are principally engaged in the transportation, storage and distribution of refined petroleum products and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 516.10 Td (crude oil. ) Tj ET Q q 0 0 0 rg BT 105.21 516.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 516.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.25 516.10 Td (, our asset portfolio, including the assets of our joint ventures, consisted of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 492.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 492.10 Td (our refined products segment, comprised of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.72 492.10 Td (9,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.22 492.10 Td (-mile refined products pipeline system with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.85 492.10 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.85 492.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 480.10 Td (terminals as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.09 480.10 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.09 480.10 Td ( independent terminals not connected to our pipeline system and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.85 480.10 Td (1,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.35 480.10 Td (-mile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 468.10 Td (ammonia pipeline system; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 444.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 444.10 Td (our crude oil segment, comprised of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.16 444.10 Td (1,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.66 444.10 Td ( miles of crude oil pipelines and storage facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 432.10 Td (with an aggregate storage capacity of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.86 432.10 Td (22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.25 432.10 Td ( barrels, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.72 432.10 Td (14 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.11 432.10 Td ( barrels are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 420.10 Td (used for leased storage; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 396.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 396.10 Td (our marine storage segment, consisting of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.68 396.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.23 396.10 Td ( marine terminals located along coastal waterways with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 384.10 Td (aggregate storage capacity of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.64 384.10 Td (26 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.03 384.10 Td ( barrels.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 360.10 Td (T) Tj ET Q q 0 0 0 rg BT 86.41 360.10 Td (erminology common in our industry includes the following terms, which describe products that we transport, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 348.10 Td (store and distribute through our pipelines and terminals:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 324.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 324.10 Td (r) Tj ET Q q 0 0 0 rg BT 102.52 324.10 Td (efined pr) Tj ET Q q 0 0 0 rg BT 137.97 324.10 Td (oducts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.58 324.10 Td (are the output from refineries and are primarily used as fuels by consumers. Refined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 312.10 Td (products include gasoline, diesel fuel, aviation fuel, kerosene and heating oil. Collectively) Tj ET Q q 0 0 0 rg BT 461.02 312.10 Td (, diesel fuel and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 300.10 Td (heating oil are referred to as distillates; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 276.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 276.10 Td (liquefied petr) Tj ET Q q 0 0 0 rg BT 152.23 276.10 Td (oleum gases, or LPGs,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.06 276.10 Td ( are produced as by-products of the crude oil refining process and in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 264.10 Td (connection with natural gas production. LPGs include butane and propane;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 240.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 240.10 Td (blendstocks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.16 240.10 Td (are blended with refined products to change or enhance their characteristics such as increasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 228.10 Td (a gasoline) Tj ET Q q 0 0 0 rg BT 142.04 228.10 Td (s octane or oxygen content. Blendstocks include alkylates, oxygenates and natural gasoline;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 204.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 204.10 Td (heavy oils and feedstocks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.36 204.10 Td ( are used as burner fuels or feedstocks for further processing by refineries and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 192.10 Td (petrochemical facilities. Heavy oils and feedstocks include No.6 fuel oil and vacuum gas oil;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 168.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 168.10 Td (crude oil and condensate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.31 168.10 Td (are used as feedstocks by refineries and petrochemical facilities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 144.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 144.10 Td (biofuels) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.67 144.10 Td (, such as ethanol and biodiesel, are increasingly required by government mandates; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 120.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 99.00 120.10 Td (ammonia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.72 120.10 Td (is primarily used as a nitrogen fertilizer) Tj ET Q q 0 0 0 rg BT 295.89 120.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 96.10 Td (Except for ammonia, we use the term ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.17 96.10 Td (petr) Tj ET Q q 0 0 0 rg BT 230.91 96.10 Td (oleum pr) Tj ET Q q 0 0 0 rg BT 266.36 96.10 Td (oducts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.47 96.10 Td ( to describe any) Tj ET Q q 0 0 0 rg BT 354.86 96.10 Td (, or a combination, of the above-noted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 84.10 Td (products.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 72.10 Td () Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 659.10 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 129.58 659.10 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 635.10 Td (In the opinion of management, our accompanying consolidated financial statements which are unaudited, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 623.10 Td (except for the consolidated balance sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.25 623.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.84 623.10 Td ( which is derived from our audited financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 611.10 Td (statements, include all normal and recurring adjustments necessary to present fairly our financial position as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.60 599.10 Td (, the results of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.79 599.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.77 599.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.60 599.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.20 599.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.63 599.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.63 599.10 Td ( and cash flows for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.72 587.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.70 587.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.53 587.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.13 587.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.56 587.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.56 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 268.88 587.10 Td (The results of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.40 587.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.39 587.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.21 587.10 Td (March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 575.10 Td ( are not necessarily indicative of the results to be expected for the full year ending December31, 2016 as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (profits from our blending activities are realized lar) Tj ET Q q 0 0 0 rg BT 264.68 563.10 Td (gely during the first and fourth quarters of each year) Tj ET Q q 0 0 0 rg BT 473.22 563.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 112.90 551.10 Td (, gasoline demand, which drives transportation volumes and revenues on our pipeline systems, generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (trends higher during the summer driving months. Further) Tj ET Q q 0 0 0 rg BT 293.40 539.10 Td (, the volatility of commodity prices impact the profits from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (our commodity activities and, to a lesser extent, the volume of petroleum products we ship on our pipelines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 503.10 Td (Pursuant to the rules and regulations of the Securities and Exchange Commission, the financial statements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 491.10 Td (this report do not include all of the information and notes normally included with financial statements prepared in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 479.10 Td (accordance with U.S. generally accepted accounting principles \(GAAP\). ) Tj ET Q q 0 0 0 rg BT 364.08 479.10 Td (These financial statements should be read ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 467.10 Td (in conjunction with the audited consolidated financial statements and notes thereto included in our ) Tj ET Q q 0 0 0 rg BT 458.45 467.10 Td (Annual Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 455.10 Td (Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.18 455.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.77 455.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 431.10 Td (Use of Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 407.10 Td (The preparation of our consolidated financial statements in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 419.32 407.10 Td ( requires management to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 395.10 Td (make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 220.84 395.10 Td (fect the reported amounts of assets and liabilities and disclosure of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 383.10 Td (contingent assets and liabilities that exist at the date of our consolidated financial statements, as well as their impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 371.10 Td (on the reported amounts of revenue and expense during the reporting periods. ) Tj ET Q q 0 0 0 rg BT 375.41 371.10 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 468.82 371.10 Td (fer from those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 359.10 Td (estimates.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 335.10 Td (New ) Tj ET Q q 0 0 0 rg BT 105.60 335.10 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 163.27 335.10 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 311.10 Td (In March 2016, the Financial ) Tj ET Q q 0 0 0 rg BT 203.81 311.10 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 334.43 311.10 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 391.10 311.10 Td (Accounting Standards Update ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 299.10 Td (\(ASU\) 2016-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.37 299.10 Td (Compensation - Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 297.89 299.10 Td (opic 718\): Impr) Tj ET Q q 0 0 0 rg BT 363.34 299.10 Td (ovements to Employee Shar) Tj ET Q q 0 0 0 rg BT 473.77 299.10 Td (e-Based ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 287.10 Td (Payment ) Tj ET Q q 0 0 0 rg BT 100.30 287.10 Td (Accounting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.85 287.10 Td (, which is part of the F) Tj ET Q q 0 0 0 rg BT 235.37 287.10 Td (ASB) Tj ET Q q 0 0 0 rg BT 257.60 287.10 Td (s initiative to simplify accounting standards. ) Tj ET Q q 0 0 0 rg BT 437.11 287.10 Td (The guidance requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 275.10 Td (an entity to make an entity-wide accounting policy election to either estimate the number of awards that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 263.10 Td (expected to vest or account for forfeitures when they occur) Tj ET Q q 0 0 0 rg BT 298.33 263.10 Td (, and allows equity classification for awards where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 251.10 Td (employees elect to withhold the maximum statutory tax rates in the applicable jurisdictions. ) Tj ET Q q 0 0 0 rg BT 434.67 251.10 Td (The new standard also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.10 Td (requires cash paid by employers when directly withholding shares for tax withholding purposes to be classified as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 227.10 Td (financing activity in the statement of cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 203.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 203.10 Td (e elected to early adopt ) Tj ET Q q 0 0 0 rg BT 188.82 203.10 Td (ASU 2016-09 during the first quarter of 2016, and this adoption did not have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 191.10 Td (material impact on our consolidated financial statements. In conjunction with our adoption of this new accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 179.10 Td (standard, we have elected to account for stock based compensation forfeitures as they occur) Tj ET Q q 0 0 0 rg BT 429.52 179.10 Td (. ) Tj ET Q q 0 0 0 rg BT 433.97 179.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 483.87 179.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 167.10 Td (consistent with our prior accounting policy) Tj ET Q q 0 0 0 rg BT 234.26 167.10 Td (, we continue to show cash paid when directly withholding shares for tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 155.10 Td (withholding purposes as a financing activity in our statements of cash flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 131.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 179.46 131.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 228.37 131.10 Td (ASU 2016-02, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.20 131.10 Td (Leases \(T) Tj ET Q q 0 0 0 rg BT 326.90 131.10 Td (opic 842\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.94 131.10 Td (. ) Tj ET Q q 0 0 0 rg BT 374.76 131.10 Td (This standard requires companies that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 119.10 Td (lease valuable assets like aircraft, real estate, and heavy equipment to recognize on their balance sheets the assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 107.10 Td (and liabilities generated by contracts longer than a year) Tj ET Q q 0 0 0 rg BT 283.47 107.10 Td (. ) Tj ET Q q 0 0 0 rg BT 288.29 107.10 Td (The new accounting model for lessors remains lar) Tj ET Q q 0 0 0 rg BT 487.77 107.10 Td (gely the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 95.10 Td (same, although some changes have been made to align the lessor accounting model with the new lessee model and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 83.10 Td (to align it with the new revenue recognition guidance. ) Tj ET Q q 0 0 0 rg BT 283.59 83.10 Td (This update also requires companies to disclose in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 71.10 Td (footnotes to their financial statements information about the amount, timing and uncertainty for the payments they ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 659.10 Td (make for the lease arrangements. Public companies will have to begin applying the standard for fiscal years and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (quarters that start after December 15, 2018, although early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 391.60 647.10 Td (W) Tj ET Q q 0 0 0 rg BT 400.24 647.10 Td (e are currently in the process of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (evaluating the impact this new standard will have on our financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 611.10 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 166.20 611.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 215.10 611.10 Td (ASU 2014-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.93 611.10 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 318.59 611.10 Td (om Contracts with Customers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.77 611.10 Td (which eliminates the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (industry-specific guidance in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 228.71 599.10 Td ( and produces a single, principles-based method for companies to report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (revenue in their financial statements. ) Tj ET Q q 0 0 0 rg BT 215.26 587.10 Td (This standard requires companies to make more estimates and use more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.10 Td (judgment than under current guidance. In addition, all companies must compile more extensive footnote disclosures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (about how the revenue numbers were derived. ) Tj ET Q q 0 0 0 rg BT 252.47 563.10 Td (This ) Tj ET Q q 0 0 0 rg BT 272.20 563.10 Td (ASU requires full retrospective, modified retrospective, or use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (of the cumulative ef) Tj ET Q q 0 0 0 rg BT 143.06 551.10 Td (fect method during the period of adoption. ) Tj ET Q q 0 0 0 rg BT 317.56 551.10 Td (W) Tj ET Q q 0 0 0 rg BT 326.20 551.10 Td (e have not yet determined which adoption method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (we will employ) Tj ET Q q 0 0 0 rg BT 124.56 539.10 Td (. In July 2015, the F) Tj ET Q q 0 0 0 rg BT 206.60 539.10 Td (ASB extended the ef) Tj ET Q q 0 0 0 rg BT 289.45 539.10 Td (fective date of this standard from January 1, 2017 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 133.92 527.10 Td (W) Tj ET Q q 0 0 0 rg BT 142.56 527.10 Td (e are currently in the process of evaluating the impact this new standard will have on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 479.10 Td (2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.00 479.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 91.37 479.10 Td (oduct Sales Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 462.10 Td (The amounts reported as product sales revenue on our consolidated statements of income include revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 450.10 Td (from the physical sale of petroleum products and from mark-to-market adjustments from New ) Tj ET Q q 0 0 0 rg BT 441.69 450.10 Td (Y) Tj ET Q q 0 0 0 rg BT 447.91 450.10 Td (ork Mercantile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 438.10 Td (Exchange \(NYMEX\) contracts. See Note 8 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 257.10 438.10 Td (Derivative Financial Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.40 438.10 Td ( for a discussion of our commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 426.10 Td (hedging strategies and how our NYMEX contracts impact product sales revenue. ) Tj ET Q q 0 0 0 rg BT 391.52 426.10 Td (All of the petroleum products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 414.10 Td (inventory we physically sell associated with our butane blending and fractionation activities, as well as the barrels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 402.10 Td (from product gains we obtain from our operations, are reported as product sales revenue on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 390.10 Td (statements of income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 369.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.11 369.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.09 369.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.92 369.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.52 369.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.96 369.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.96 369.10 Td (, product sales revenue included the following \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 357.10 Td (thousands\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 109.11 357.10 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 317.6 m 431 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 317.6 m 435 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 317.6 m 480 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 317.6 m 431 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 304.6 m 431 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 317.6 m 480 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 304.6 m 480 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 304.6 m 431 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 304.6 m 480 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 274.6 m 431 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 260.6 m 431 260.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 258.6 m 431 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 274.6 m 480 274.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 260.6 m 480 260.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 258.6 m 480 258.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.60 329.73 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 319.73 Td (March 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 139.50 308.86 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.50 308.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.00 308.83 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 139.50 294.06 Td (Physical sale of petroleum products) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 293.86 Td (..................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.50 294.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.25 294.06 Td (169,247) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 294.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.25 294.06 Td (130,580) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 139.50 279.06 Td (Change in value of NYMEX contracts) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 278.86 Td (..............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.25 279.06 Td (3,880) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.75 279.06 Td (15,982) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 139.50 264.06 Td (Total product sales revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.75 263.86 Td (...............................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.50 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.25 264.06 Td (173,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 264.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.25 264.06 Td (146,562) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 238.50 Td (3. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.00 238.50 Td (Segment Disclosur) Tj ET Q q 0 0 0 rg BT 159.98 238.50 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 214.50 Td (Our reportable segments are strategic business units that of) Tj ET Q q 0 0 0 rg BT 322.86 214.50 Td (fer dif) Tj ET Q q 0 0 0 rg BT 347.39 214.50 Td (ferent products and services. Our segments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 202.50 Td (are managed separately as each segment requires dif) Tj ET Q q 0 0 0 rg BT 272.44 202.50 Td (ferent marketing strategies and business knowledge. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 190.50 Td (Management evaluates performance based on segment operating mar) Tj ET Q q 0 0 0 rg BT 339.65 190.50 Td (gin, which includes revenue from af) Tj ET Q q 0 0 0 rg BT 483.86 190.50 Td (filiates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 178.50 Td (external customers, operating expenses, cost of product sales and earnings of non-controlled entities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 157.50 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 157.50 Td (e believe that investors benefit from having access to the same financial measures used by management. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 145.50 Td (Operating mar) Tj ET Q q 0 0 0 rg BT 120.85 145.50 Td (gin, which is presented in the following tables, is an important measure used by management to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 133.50 Td (evaluate the economic performance of our core operations. Operating mar) Tj ET Q q 0 0 0 rg BT 358.80 133.50 Td (gin is not a GAAP) Tj ET Q q 0 0 0 rg BT 432.32 133.50 Td ( measure, but the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 121.50 Td (components of operating mar) Tj ET Q q 0 0 0 rg BT 180.29 121.50 Td (gin are computed using amounts that are determined in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 496.58 121.50 Td (. ) Tj ET Q q 0 0 0 rg BT 503.53 121.50 Td (A) Tj ET Q q 0 0 0 rg BT 510.20 121.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 109.50 Td (reconciliation of operating mar) Tj ET Q q 0 0 0 rg BT 186.94 109.50 Td (gin to operating profit, which is its nearest comparable GAAP) Tj ET Q q 0 0 0 rg BT 434.84 109.50 Td ( financial measure, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 97.50 Td (included in the tables below) Tj ET Q q 0 0 0 rg BT 174.54 97.50 Td (. Operating profit includes depreciation and amortization expense and general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 85.50 Td (administrative \(G&A\) expense that management does not consider when evaluating the core profitability of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 73.50 Td (separate operating segments.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 51.60 Td (9) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 635.6 m 285.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 635.6 m 289.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 635.6 m 344.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 635.6 m 348.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 635.6 m 403.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 635.6 m 407.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 635.6 m 462.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 635.6 m 466.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 635.6 m 521.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 601.6 m 285.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 601.6 m 344.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 601.6 m 403.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 601.6 m 462.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 601.6 m 521.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 601.6 m 285.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 601.6 m 344.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 601.6 m 403.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 601.6 m 462.5 601.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 556.6 m 285.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 556.6 m 344.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 556.6 m 403.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 556.6 m 462.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 556.6 m 521.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 496.6 m 285.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 496.6 m 344.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 496.6 m 403.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 496.6 m 462.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 496.6 m 521.5 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 451.6 m 285.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 451.6 m 344.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 451.6 m 403.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 451.6 m 462.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 451.6 m 521.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 437.6 m 285.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 435.6 m 285.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 437.6 m 344.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 435.6 m 344.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 437.6 m 403.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 435.6 m 403.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 437.6 m 462.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 435.6 m 462.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 437.6 m 521.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 435.6 m 521.5 435.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 639.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.60 639.83 Td (Three Months Ended March 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 626.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.15 626.83 Td (\(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 605.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.15 613.83 Td (Refined) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.20 605.83 Td (Products) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.25 605.83 Td (Crude Oil) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 613.83 Td (Marine) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.35 605.83 Td (Storage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.80 613.83 Td (Intersegment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.70 605.83 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.75 605.83 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 592.86 Td (Transportation and terminals revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.25 592.86 Td (...........) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.00 591.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 591.06 Td (220,683) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.00 591.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 591.06 Td (90,866) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.00 591.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 591.06 Td (42,263) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 591.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 591.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 591.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 591.06 Td (353,812) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 577.86 Td (Product sales revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 146.00 577.86 Td (....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 576.06 Td (172,639) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 576.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 576.06 Td (488) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 576.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 576.06 Td (173,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 562.86 Td (Affiliate management fee revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.75 562.86 Td (.................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 561.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 561.06 Td (3,027) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 561.06 Td (336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 561.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.75 561.06 Td (3,363) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 547.86 Td (Total revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 134.75 547.86 Td (.........................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 546.06 Td (393,322) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 546.06 Td (93,893) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 546.06 Td (43,087) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 546.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 546.06 Td (530,302) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 532.86 Td (Operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 137.00 532.86 Td (........................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 531.06 Td (74,212) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 531.06 Td (18,167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 531.06 Td (15,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.75 531.06 Td (\(1,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 531.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 531.06 Td (106,707) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 517.86 Td (Cost of product sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 143.75 517.86 Td (.....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 516.06 Td (135,634) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.00 516.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 516.06 Td (545) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 516.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 516.06 Td (136,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 502.86 Td (Losses \(earnings\) of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 222.50 502.86 Td (..) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 501.06 Td (55) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 317.75 501.06 Td (\(8,924) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 341.00 501.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.50 501.06 Td (\(721) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 501.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 501.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.75 501.06 Td (\(9,590) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.00 501.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 486.06 Td (Operating margin) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.25 485.86 Td (...................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 486.06 Td (183,421) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 486.06 Td (84,650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 486.06 Td (27,928) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 486.06 Td (1,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 486.06 Td (297,006) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 472.86 Td (Depreciation and amortization expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 206.75 472.86 Td (.........) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 471.06 Td (23,447) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 471.06 Td (8,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.75 471.06 Td (9,014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 471.06 Td (1,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 471.06 Td (41,697) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 457.86 Td (G&A expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 121.25 457.86 Td (...............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 456.06 Td (22,599) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 456.06 Td (8,086) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.75 456.06 Td (4,813) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 456.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 456.06 Td (35,498) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 441.06 Td (Operating profit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 143.75 440.86 Td (.....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.00 441.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 441.06 Td (137,375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.00 441.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 441.06 Td (68,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.00 441.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 441.06 Td (14,101) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 441.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 441.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 441.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 441.06 Td (219,811) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 426.30 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 402.79999999999995 m 285.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 402.79999999999995 m 289.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 402.79999999999995 m 344.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 402.79999999999995 m 348.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 402.79999999999995 m 403.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 402.79999999999995 m 407.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 402.79999999999995 m 462.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 402.79999999999995 m 466.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 402.79999999999995 m 521.5 402.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 368.79999999999995 m 285.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 368.79999999999995 m 344.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 368.79999999999995 m 403.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 368.79999999999995 m 462.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 368.79999999999995 m 521.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 368.79999999999995 m 285.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 368.79999999999995 m 344.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 368.79999999999995 m 403.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 368.79999999999995 m 462.5 368.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 323.79999999999995 m 285.5 323.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 323.79999999999995 m 344.5 323.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 323.79999999999995 m 403.5 323.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 323.79999999999995 m 462.5 323.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 323.79999999999995 m 521.5 323.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 263.79999999999995 m 285.5 263.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 263.79999999999995 m 344.5 263.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 263.79999999999995 m 403.5 263.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 263.79999999999995 m 462.5 263.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 263.79999999999995 m 521.5 263.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 218.79999999999995 m 285.5 218.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 218.79999999999995 m 344.5 218.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 218.79999999999995 m 403.5 218.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 218.79999999999995 m 462.5 218.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 218.79999999999995 m 521.5 218.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 204.79999999999995 m 285.5 204.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230.5 202.79999999999995 m 285.5 202.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 204.79999999999995 m 344.5 204.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 202.79999999999995 m 344.5 202.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 204.79999999999995 m 403.5 204.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 202.79999999999995 m 403.5 202.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 204.79999999999995 m 462.5 204.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 202.79999999999995 m 462.5 202.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 204.79999999999995 m 521.5 204.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 202.79999999999995 m 521.5 202.79999999999995 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 407.05 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.60 407.03 Td (Three Months Ended March 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 394.05 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.15 394.03 Td (\(in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 373.05 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 244.15 381.03 Td (Refined) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 242.20 373.03 Td (Products) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 299.25 373.03 Td (Crude Oil) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.80 381.03 Td (Marine) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.35 373.03 Td (Storage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.80 381.03 Td (Intersegment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.70 373.03 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.75 373.03 Td (Total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 360.06 Td (Transportation and terminals revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.25 360.06 Td (...........) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.00 358.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 358.26 Td (224,750) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.00 358.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 358.26 Td (101,728) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.00 358.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 358.26 Td (43,597) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 358.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 358.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 358.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 358.26 Td (370,075) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 345.06 Td (Product sales revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 146.00 345.06 Td (....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 343.26 Td (143,916) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 343.26 Td (1,743) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 343.26 Td (903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 343.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 343.26 Td (146,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 330.06 Td (Affiliate management fee revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.75 330.06 Td (.................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 328.26 Td (80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 328.26 Td (2,784) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 328.26 Td (315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 328.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 497.75 328.26 Td (3,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 315.06 Td (Total revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 134.75 315.06 Td (.........................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 313.26 Td (368,746) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 313.26 Td (106,255) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 313.26 Td (44,815) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 313.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 313.26 Td (519,816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 300.06 Td (Operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 137.00 300.06 Td (........................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 298.26 Td (85,985) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 298.26 Td (21,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 298.26 Td (17,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.75 298.26 Td (\(1,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.00 298.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 298.26 Td (123,233) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 285.06 Td (Cost of product sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 143.75 285.06 Td (.....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 283.26 Td (111,856) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 283.26 Td (1,345) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 283.26 Td (384) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 283.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 283.26 Td (113,585) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 270.06 Td (Losses \(earnings\) of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 222.50 270.06 Td (..) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.00 268.26 Td (42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 268.26 Td (\(16,979) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 341.00 268.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.50 268.26 Td (\(691) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 268.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 268.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 268.26 Td (\(17,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.00 268.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 253.26 Td (Operating margin) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.25 253.06 Td (...................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 253.26 Td (170,863) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 253.26 Td (100,697) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 253.26 Td (27,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 253.26 Td (1,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 253.26 Td (300,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 240.06 Td (Depreciation and amortization expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 206.75 240.06 Td (.........) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 238.26 Td (25,120) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 238.26 Td (9,869) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.75 238.26 Td (7,573) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 238.26 Td (1,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 238.26 Td (43,754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 225.06 Td (G&A expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 121.25 225.06 Td (...............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.25 223.26 Td (25,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.75 223.26 Td (9,780) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.75 223.26 Td (5,733) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 223.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 223.26 Td (40,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 208.26 Td (Operating profit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 143.75 208.06 Td (.....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.00 208.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.75 208.26 Td (120,382) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.00 208.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 208.26 Td (81,048) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.00 208.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.25 208.26 Td (14,568) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 208.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.00 208.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.00 208.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 208.26 Td (215,998) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 176.30 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 659.25 Td (4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 196.99 659.25 Td (olled Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 635.25 Td (Our investments in non-controlled entities at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.07 635.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.67 635.25 Td ( were comprised of:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161 598.75 m 384 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 598.75 m 459 598.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.30 602.98 Td (Entity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.10 610.98 Td (Ownership) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.70 602.98 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 588.21 Td (BridgeTex Pipeline Company, LLC \(BridgeTex\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 588.21 Td (50%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 573.21 Td (Double Eagle Pipeline LLC \(Double Eagle\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 573.21 Td (50%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 558.21 Td (HoustonLink Pipeline Company, LLC \(HoustonLink\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 558.21 Td (50%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 543.21 Td (Powder Springs Logistics, LLC \(Powder Springs\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 543.21 Td (50%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 528.21 Td (Saddlehorn Pipeline Company, LLC \(Saddlehorn\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 528.21 Td (40%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 513.21 Td (Seabrook Logistics, LLC \(Seabrook\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 513.21 Td (50%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.50 498.21 Td (Texas Frontera, LLC \(Texas Frontera\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.75 498.21 Td (50%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 470.25 Td (In February 2016, we transferred our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.22 470.25 Td (50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.55 470.25 Td ( membership interest in Osage Pipe Line Company) Tj ET Q q 0 0 0 rg BT 462.03 470.25 Td (, LLC \(Osage\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 458.25 Td (to an af) Tj ET Q q 0 0 0 rg BT 92.80 458.25 Td (filiate of HollyFrontier Corporation. In conjunction with this transaction, we entered into several ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 446.25 Td (commercial agreements with af) Tj ET Q q 0 0 0 rg BT 188.60 446.25 Td (filiates of HollyFrontier Corporation. ) Tj ET Q q 0 0 0 rg BT 342.28 446.25 Td (W) Tj ET Q q 0 0 0 rg BT 350.92 446.25 Td (e recorded these commercial agreements as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 434.25 Td ($43.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 434.25 Td ( of intangible assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.48 434.25 Td ($8.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.37 434.25 Td ( of other receivables in our consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 489.66 434.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 422.25 Td (intangible assets will be amortized over the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.78 422.25 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.78 422.25 Td (-year life of the contracts received. ) Tj ET Q q 0 0 0 rg BT 392.97 422.25 Td (W) Tj ET Q q 0 0 0 rg BT 401.60 422.25 Td (e recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.84 422.25 Td ($26.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.73 422.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 410.25 Td (non-cash gain in relation to this transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 386.25 Td (The fixed management fees we have recognized from BridgeT) Tj ET Q q 0 0 0 rg BT 339.75 386.25 Td (ex, Osage, Powder Springs, Saddlehorn and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 374.25 Td (T) Tj ET Q q 0 0 0 rg BT 68.41 374.25 Td (exas Frontera are reported as af) Tj ET Q q 0 0 0 rg BT 194.00 374.25 Td (filiate management fee revenue on our consolidated statements of income. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 362.25 Td (addition, we receive reimbursement from certain of our joint ventures for costs incurred during construction. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 350.25 Td (the first quarter of 2016, we received construction cost reimbursements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.24 350.25 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.13 350.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.57 350.25 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.46 350.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 338.25 Td (Saddlehorn and Seabrook, respectively) Tj ET Q q 0 0 0 rg BT 218.42 338.25 Td (, which were recorded as reductions to costs and expenses on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.25 Td (consolidated statements of income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 302.25 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.11 302.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.09 302.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.92 302.25 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.52 302.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.96 302.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.96 302.25 Td (, we recognized pipeline capacity lease revenue from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 290.25 Td (BridgeT) Tj ET Q q 0 0 0 rg BT 95.63 290.25 Td (ex of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.40 290.25 Td ($8.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.29 290.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.73 290.25 Td ($8.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.62 290.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 288.28 290.25 Td (, which we included in transportation and terminals revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 278.25 Td (on our consolidated statements of income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 254.25 Td (W) Tj ET Q q 0 0 0 rg BT 98.64 254.25 Td (e recognized throughput revenue from Double Eagle for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.30 254.25 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.90 254.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.34 254.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.34 254.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 242.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 242.25 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.72 242.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.16 242.25 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.05 242.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 243.71 242.25 Td (, which we included in transportation and terminals revenue. ) Tj ET Q q 0 0 0 rg BT 490.31 242.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 230.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.58 230.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.02 230.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.62 230.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 277.28 230.25 Td (, we recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.74 230.25 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.63 230.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.07 230.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.96 230.25 Td ( trade accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 218.25 Td (receivable from Double Eagle. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 194.25 Td (The financial results from ) Tj ET Q q 0 0 0 rg BT 195.89 194.25 Td (T) Tj ET Q q 0 0 0 rg BT 201.30 194.25 Td (exas Frontera are included in our marine storage segment, the financial results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 182.25 Td (from BridgeT) Tj ET Q q 0 0 0 rg BT 117.57 182.25 Td (ex, Double Eagle, HoustonLink, Osage, Saddlehorn and Seabrook are included in our crude oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 170.25 Td (segment and the financial results from Powder Springs are included in our refined products segment, each as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 158.25 Td (earnings/losses of non-controlled entities. ) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.15 51.60 Td (1) Tj ET Q q 0 0 0 rg BT 296.78 51.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 659.10 Td (A) Tj ET Q q 0 0 0 rg BT 96.67 659.10 Td ( summary of our investments in non-controlled entities follows \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 624.6 m 364.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 624.6 m 425.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 624.6 m 486.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 624.6 m 364.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 624.6 m 425.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 517.6 m 364.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 517.6 m 425.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 517.6 m 486.5 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 441.6 m 364.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 441.6 m 425.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 441.6 m 364.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 427.6 m 364.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 425.6 m 364.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 441.6 m 425.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 427.6 m 425.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 425.6 m 425.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 441.6 m 486.5 441.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 427.6 m 486.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429.5 425.6 m 486.5 425.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.85 628.83 Td (BridgeTex) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 378.60 628.83 Td (All Others) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.05 628.83 Td (Consolidated) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 614.06 Td (Investments at December 31, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.75 613.86 Td (.................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 310.00 614.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.75 614.06 Td (495,267) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.00 614.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.75 614.06 Td (270,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 614.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.75 614.06 Td (765,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 599.06 Td (Additional investment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 216.75 598.86 Td (.....................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 340.75 599.06 Td (6,336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 397.25 599.06 Td (55,402) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 599.06 Td (61,738) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 584.06 Td (Exchange of investment in non-controlled) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 575.06 Td (entity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.00 575.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.25 575.06 Td (\(25,105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 575.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 575.06 Td (\(25,105) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.00 575.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 560.06 Td (Earnings of non-controlled entities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.00 545.06 Td (Proportionate share of earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.75 544.86 Td (.................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.25 545.06 Td (15,624) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.75 545.06 Td (2,631) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 545.06 Td (18,255) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.00 531.06 Td (Amortization of excess investment and) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 157.00 522.06 Td (capitalized interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 225.75 521.86 Td (.................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.50 522.06 Td (\(510) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 522.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 405.50 522.06 Td (\(117) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.00 522.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 522.06 Td (\(627) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 483.00 522.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 160.00 507.06 Td (Earnings of non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.50 506.86 Td (......) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.25 507.06 Td (15,114) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.75 507.06 Td (2,514) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 507.06 Td (17,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 492.06 Td (Less:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.00 478.06 Td (Distributions of earnings from) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 157.00 469.06 Td (investments in non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 293.25 468.86 Td (...) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.25 469.06 Td (15,114) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.75 469.06 Td (2,183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 469.06 Td (17,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 148.00 455.06 Td (Distributions in excess of earnings of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 157.00 446.06 Td (non-controlled entities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 239.25 445.86 Td (...........................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 340.75 446.06 Td (1,291) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.50 446.06 Td (921) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.75 446.06 Td (2,212) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.00 431.06 Td (Investments at March 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.25 430.86 Td (.......................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 310.00 431.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.75 431.06 Td (500,312) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 371.00 431.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.75 431.06 Td (300,068) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.00 431.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.75 431.06 Td (800,380) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 399.10 Td (Summarized financial information of our non-controlled entities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.53 399.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.51 399.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.34 399.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.93 399.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 387.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 387.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.94 387.10 Td ( follows \(in thousands\): ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 360.6 m 201.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201.5 360.6 m 205.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 360.6 m 262.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 360.6 m 266.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 360.6 m 323.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 360.6 m 404.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 360.6 m 408.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 360.6 m 465.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 360.6 m 469.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 360.6 m 527.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 144.5 344.6 m 201.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 344.6 m 262.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 344.6 m 323.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 344.6 m 404.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 344.6 m 465.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 344.6 m 527.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 344.6 m 323.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 344.6 m 404.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 344.6 m 465.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 344.6 m 527.5 344.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 169.60 364.83 Td (Three Months Ended March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.10 364.83 Td (Three Months Ended March 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 154.85 348.83 Td (BridgeTex) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.60 348.83 Td (All Others) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 272.05 348.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.85 348.83 Td (BridgeTex) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.60 348.83 Td (All Others) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.55 348.83 Td (Consolidated) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 334.06 Td (Revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 98.75 333.86 Td (.................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 173.25 334.06 Td (37,136) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.75 334.06 Td (9,520) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 334.06 Td (46,656) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.25 334.06 Td (50,798) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.25 334.06 Td (11,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 334.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.25 334.06 Td (62,207) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 319.06 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 107.75 318.86 Td (.............) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 147.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 173.25 319.06 Td (18,037) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.75 319.06 Td (2,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 269.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 319.06 Td (20,618) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.25 319.06 Td (31,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.75 319.06 Td (5,266) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 319.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.25 319.06 Td (36,514) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 277.10 Td (5. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 277.10 Td (Inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 248.10 Td (Inventory at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.09 248.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.68 248.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.12 248.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.71 248.10 Td ( was as follows \(in thousands\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 237.30 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 205.79999999999995 m 424.5 205.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 205.79999999999995 m 487.5 205.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 205.79999999999995 m 424.5 205.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 205.79999999999995 m 487.5 205.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 130.79999999999995 m 424.5 130.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 116.79999999999995 m 424.5 116.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 114.79999999999995 m 424.5 114.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 130.79999999999995 m 487.5 130.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 116.79999999999995 m 487.5 116.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 114.79999999999995 m 487.5 114.79999999999995 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.25 218.03 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 210.03 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.00 218.03 Td (March 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.50 210.03 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 195.47 Td (Refined products) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 195.37 Td (..........................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 195.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 195.47 Td (57,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 195.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 195.47 Td (55,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 180.47 Td (Liquefied petroleum gases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 180.37 Td (...........................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 180.47 Td (17,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 180.47 Td (15,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 165.47 Td (Transmix) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.00 165.37 Td (......................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 165.47 Td (21,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 165.47 Td (22,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 150.47 Td (Crude oil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.00 150.37 Td (......................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 150.47 Td (28,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 150.47 Td (32,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 135.47 Td (Additives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.00 135.37 Td (......................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 135.47 Td (5,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 135.47 Td (5,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.00 120.47 Td (Total inventory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.50 120.37 Td (.....................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 120.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 120.47 Td (130,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 120.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 120.47 Td (132,088) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 659.25 Td (6. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Employee Benefit Plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 642.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 642.25 Td (e sponsor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.19 642.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.19 642.25 Td ( pension plans for certain union employees and a pension plan primarily for non-union ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (employees, a postretirement benefit plan for selected employees and a defined contribution plan. ) Tj ET Q q 0 0 0 rg BT 451.85 630.25 Td (The following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 618.25 Td (tables present our consolidated net periodic benefit costs related to the pension and postretirement benefit plans for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 606.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.72 606.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.70 606.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.53 606.25 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.13 606.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.56 606.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.56 606.25 Td ( \(in thousands\): ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 440.25 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.75 573.75 m 330.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.75 573.75 m 334.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.75 573.75 m 392.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 573.75 m 457.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.75 573.75 m 462.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 573.75 m 521.75 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.75 544.75 m 330.75 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.75 544.75 m 392.75 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 544.75 m 457.75 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 544.75 m 521.75 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.75 454.75 m 330.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.75 440.75 m 330.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.75 438.75 m 330.75 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.75 454.75 m 392.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.75 440.75 m 392.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334.75 438.75 m 392.75 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 454.75 m 457.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 440.75 m 457.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 438.75 m 457.75 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 454.75 m 521.75 454.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 440.75 m 521.75 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.75 438.75 m 521.75 438.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.85 587.83 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.85 587.83 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.25 576.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.75 576.83 Td (March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 433.75 576.83 Td (March 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 68.25 549.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.90 556.98 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 287.45 548.98 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.10 564.98 Td (Other) Tj ET Q q 0 0 0 rg BT 373.39 564.98 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.85 556.98 Td (Postr) Tj ET Q q 0 0 0 rg BT 355.92 556.98 Td (etir) Tj ET Q q 0 0 0 rg BT 367.76 556.98 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.45 548.98 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.90 556.98 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.45 548.98 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.60 564.98 Td (Other) Tj ET Q q 0 0 0 rg BT 501.89 564.98 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.35 556.98 Td (Postr) Tj ET Q q 0 0 0 rg BT 484.42 556.98 Td (etir) Tj ET Q q 0 0 0 rg BT 496.26 556.98 Td (ement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 477.95 548.98 Td (Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.25 535.32 Td (Components of net periodic benefit costs:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.25 520.32 Td (Service cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.75 520.32 Td (.....................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.25 519.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.40 519.42 Td (4,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.25 519.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.90 519.42 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.25 519.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.40 519.42 Td (4,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 519.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.90 519.42 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.25 505.32 Td (Interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.75 505.32 Td (.....................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.40 504.42 Td (1,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.90 504.42 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.40 504.42 Td (2,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.90 504.42 Td (110) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.25 490.32 Td (Expected return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.25 490.32 Td (........................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.05 489.47 Td (\(1,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.90 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.90 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.05 489.47 Td (\(2,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.90 489.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.90 489.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.25 475.32 Td (Amortization of prior service credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.25 475.32 Td (................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.90 474.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.55 474.47 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.90 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.55 474.47 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.90 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.55 474.47 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.90 474.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.25 460.32 Td (Amortization of actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.75 460.32 Td (.........................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.40 459.42 Td (1,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.90 459.42 Td (225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.40 459.42 Td (1,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.90 459.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.25 445.32 Td (Net periodic benefit cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.75 445.32 Td (.............) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.25 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.40 444.42 Td (5,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.25 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.55 444.47 Td (\(527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.90 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.25 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.40 444.42 Td (5,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.25 444.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.55 444.47 Td (\(573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.90 444.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 426.25 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 414.25 Td (Contributions estimated to be paid into the plans in 2016 are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.63 414.25 Td ($22.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.52 414.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.96 414.25 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.85 414.25 Td ( for the pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 402.25 Td (and other postretirement benefit plans, respectively) Tj ET Q q 0 0 0 rg BT 267.28 402.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 378.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 378.25 Td (e match our employees) Tj ET Q q 0 0 0 rg BT 189.19 378.25 Td ( qualifying contributions to our defined contribution plan, resulting in expense to us. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 366.25 Td (Expenses related to the defined contribution plan were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.48 366.25 Td ($2.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.37 366.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.81 366.25 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.70 366.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 453.36 366.25 Td (, for the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 354.25 Td (months ended March 31, 2015 and 2016.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 330.25 Td (Amounts Included in ) Tj ET Q q 0 0 0 rg BT 170.58 330.25 Td (AOCL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 308.65 Td (The changes in ) Tj ET Q q 0 0 0 rg BT 147.98 308.65 Td (AOCL) Tj ET Q q 0 0 0 rg BT 174.83 308.65 Td ( related to employee benefit plan assets and benefit obligations for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 296.65 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 296.65 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.98 296.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.41 296.65 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.41 296.65 Td ( were as follows \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 262.15 m 338 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 262.15 m 342 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 262.15 m 400 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 262.15 m 462 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 262.15 m 466 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 262.15 m 524 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 235.14999999999998 m 338 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 235.14999999999998 m 400 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 262.15 m 462 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 235.14999999999998 m 462 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 262.15 m 466 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 262.15 m 524 262.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 235.14999999999998 m 524 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 235.14999999999998 m 338 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 235.14999999999998 m 400 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 235.14999999999998 m 462 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 235.14999999999998 m 524 235.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 190.14999999999998 m 338 190.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 176.14999999999998 m 338 176.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 174.14999999999998 m 338 174.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 190.14999999999998 m 400 190.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 176.14999999999998 m 400 176.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342 174.14999999999998 m 400 174.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 190.14999999999998 m 462 190.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 176.14999999999998 m 462 176.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404 174.14999999999998 m 462 174.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 190.14999999999998 m 524 190.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 176.14999999999998 m 524 176.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 174.14999999999998 m 524 174.14999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 303.10 278.23 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.10 278.23 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.00 266.23 Td (March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 437.00 266.23 Td (March 31, 2016) Tj ET Q BT /F2 9.00 Tf ET 0 0 0 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 71.5 238.19633789062493 m 200.78466796875 238.19633789062493 l s q 0 0 0 rg BT 71.50 239.60 Td (Gains \(Losses\) Included in AOCL) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 295.15 247.38 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.70 239.38 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.35 254.23 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.10 246.23 Td (Postretirement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.70 238.23 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.15 247.38 Td (Pension) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.70 239.38 Td (Benefits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.35 254.23 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.10 246.23 Td (Postretirement) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.70 238.23 Td (Benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 224.82 Td (Beginning balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.50 224.72 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 224.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.30 224.87 Td (\(63,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 224.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 224.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.30 224.87 Td (\(1,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 224.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 224.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.30 224.87 Td (\(62,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 224.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 224.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.30 224.87 Td (\(3,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 224.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 209.82 Td (Amortization of prior service credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.00 209.72 Td (.......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 209.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.80 209.87 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 209.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.80 209.87 Td (\(45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 209.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.80 209.87 Td (\(928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 209.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 194.82 Td (Amortization of actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.50 194.72 Td (................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 194.82 Td (1,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 194.82 Td (225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 194.82 Td (1,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.15 194.82 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.50 179.82 Td (Ending balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 179.72 Td (.......................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 179.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.30 179.87 Td (\(61,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 179.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.50 179.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.30 179.87 Td (\(2,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 179.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 179.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.30 179.87 Td (\(61,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 179.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 179.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.30 179.87 Td (\(4,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 179.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 659.25 Td (7. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 642.25 Td (Consolidated debt at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.21 642.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.79 642.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.23 642.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.83 642.25 Td ( was as follows \(in thousands, except as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (otherwise noted\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 581.75 m 438.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 581.75 m 527.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 581.75 m 376.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 581.75 m 438.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 581.75 m 527.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 438.75 m 376.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 438.75 m 438.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 438.75 m 376.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 438.75 m 438.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 399.75 m 376.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 399.75 m 438.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 399.75 m 376.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 387.75 m 376.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 385.75 m 376.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 399.75 m 438.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 387.75 m 438.5 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380.5 385.75 m 438.5 385.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 586.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.75 593.98 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.00 585.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.50 593.98 Td (March 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.00 585.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.00 609.98 Td (W) Tj ET Q q 0 0 0 rg BT 460.56 609.98 Td (eighted-A) Tj ET Q q 0 0 0 rg BT 493.29 609.98 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.85 601.98 Td (Inter) Tj ET Q q 0 0 0 rg BT 467.03 601.98 Td (estRate for) Tj ET Q q 0 0 0 rg BT 506.42 601.98 Td ( the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.10 593.98 Td (Thr) Tj ET Q q 0 0 0 rg BT 461.29 593.98 Td (ee Months Ended ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.95 585.98 Td (Mar) Tj ET Q q 0 0 0 rg BT 468.91 585.98 Td (ch 31, 2016) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 508.91 589.61 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 572.32 Td (Commercial paper) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 140.14 576.85 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 572.32 Td (................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 572.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 572.32 Td (279,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 572.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 572.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 572.32 Td (0.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 559.32 Td ($250.0 million of 5.65% Notes due 2016) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 229.32 563.85 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 559.32 Td (............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 559.32 Td (250,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 559.32 Td (250,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 559.32 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 546.32 Td ($250.0 million of 6.40% Notes due 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 546.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 546.32 Td (255,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 546.32 Td (254,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 546.32 Td (5.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 533.32 Td ($550.0 million of 6.55% Notes due 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 533.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 533.32 Td (564,116) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 533.32 Td (563,161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 533.32 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 520.32 Td ($550.0 million of 4.25% Notes due 2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 520.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 520.32 Td (555,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 520.32 Td (555,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 520.32 Td (4.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 507.32 Td ($250.0 million of 3.20% Notes due 2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 507.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 507.32 Td (249,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 507.32 Td (249,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 507.32 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 494.32 Td ($650.0 million of 5.00% Notes due 2026) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 229.32 498.85 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 494.32 Td (............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.65 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 494.32 Td (649,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 494.32 Td (5.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 481.32 Td ($250.0 million of 6.40% Notes due 2037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 481.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 481.32 Td (249,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 481.32 Td (249,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 481.32 Td (6.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 468.32 Td ($250.0 million of 4.20% Notes due 2042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 468.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 468.32 Td (248,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 468.32 Td (248,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 468.32 Td (4.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 455.32 Td ($550.0 million of 5.15% Notes due 2043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 455.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 455.32 Td (556,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 455.32 Td (556,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 455.32 Td (5.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 442.32 Td ($250.0 million of 4.20% Notes due 2045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.50 442.32 Td (...............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 442.32 Td (249,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 442.32 Td (249,914) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 442.32 Td (4.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 429.32 Td (Total debt, excluding unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.50 429.32 Td (...) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 429.32 Td (3,458,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 429.32 Td (3,825,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.05 429.32 Td (4.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 416.32 Td (Unamortized debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.00 416.32 Td (............................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.80 416.37 Td (\(18,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 416.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.80 416.37 Td (\(23,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 416.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 403.32 Td (Less: current portion of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.50 403.32 Td (.................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 403.32 Td (250,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 403.32 Td (250,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 390.32 Td (Total long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 390.32 Td (.........................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.60 390.32 Td (3,189,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 390.32 Td (3,552,032) Tj ET Q BT /F1 10.00 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 72.00 366.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 85.50 366.25 Td (W) Tj ET Q q 0 0 0 rg BT 91.55 366.25 Td (eighted-average interest rate includes the amortization/accretion of discounts, premiums and gains/losses realized on historical cash flow and fair value ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 85.50 359.25 Td (hedges recognized as interest expense.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 72.00 345.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 85.50 345.25 Td (These borrowings were outstanding for only a portion of the ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 256.18 345.25 Td (three) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 270.17 345.25 Td (-month period ending ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 332.58 345.25 Td (March 31, 2016) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 377.10 345.25 Td (. ) Tj ET Q q 0 0 0 rg BT 382.22 345.25 Td (The weighted-average interest rate for these ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 85.50 338.25 Td (borrowings was calculated based on the number of days the borrowings were outstanding during the noted period.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 72.00 324.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 85.50 324.25 Td (These borrowings will mature in October 2016 and are included with current debt on our consolidated balance sheets at December 31, 2015 and ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 490.59 324.25 Td (March 31, ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 85.50 317.25 Td (2016) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 99.50 317.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 293.25 Td (All of the instruments detailed in the table above are senior indebtedness.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 269.25 Td (The face value of our debt at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.94 269.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.53 269.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.96 269.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.56 269.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.11 269.25 Td ($3.4 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.23 269.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.67 269.25 Td ($3.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.78 269.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 257.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 257.25 Td (. ) Tj ET Q q 0 0 0 rg BT 117.98 257.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 146.96 257.25 Td (ference between the face value and carrying value of our debt outstanding is the unamortized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 245.25 Td (portion of terminated fair value hedges and the unamortized discounts and premiums on debt issuances. Realized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 233.25 Td (gains and losses on fair value hedges and note discounts and premiums are being amortized or accreted to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 221.25 Td (applicable notes over the respective lives of those notes. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 197.25 Td (2016 Debt Of) Tj ET Q q 0 0 0 rg BT 140.31 197.25 Td (fering) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 173.25 Td (In February 2016, we issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.59 173.25 Td ($650.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.48 173.25 Td ( of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.64 173.25 Td (5.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.47 173.25 Td ( notes due 2026 in an underwritten public of) Tj ET Q q 0 0 0 rg BT 492.47 173.25 Td (fering. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 161.25 Td (The notes were issued at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 161.25 Td (99.875%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.63 161.25 Td ( of par) Tj ET Q q 0 0 0 rg BT 225.18 161.25 Td (. Net proceeds from this of) Tj ET Q q 0 0 0 rg BT 334.69 161.25 Td (fering were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.25 161.25 Td ($644.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 161.25 Td (, after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 149.25 Td (underwriting discounts and of) Tj ET Q q 0 0 0 rg BT 182.52 149.25 Td (fering expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.33 149.25 Td ($5.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.22 149.25 Td (. ) Tj ET Q q 0 0 0 rg BT 314.54 149.25 Td (The net proceeds from this of) Tj ET Q q 0 0 0 rg BT 432.38 149.25 Td (fering were or will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 137.25 Td (used to repay borrowings outstanding under our commercial paper program and for general partnership purposes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 125.25 Td (including expansion capital.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (14) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Other Debt) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 635.25 Td (Revolving Cr) Tj ET Q q 0 0 0 rg BT 138.17 635.25 Td (edit Facilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.43 635.25 Td ( ) Tj ET Q q 0 0 0 rg BT 200.38 635.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.88 635.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.48 635.25 Td (, the total borrowing capacity under our revolving credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 623.25 Td (facility with a maturity date of October 27, 2020 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.66 623.25 Td ($1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.78 623.25 Td (. ) Tj ET Q q 0 0 0 rg BT 330.72 623.25 Td (Any borrowings outstanding under this facility ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 611.25 Td (are classified as long-term debt on our consolidated balance sheets. Borrowings under this facility are unsecured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.25 Td (and bear interest at LIBOR plus a spread ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.49 599.25 Td (1.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.32 599.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.10 599.25 Td (1.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.93 599.25 Td ( based on our credit ratings. ) Tj ET Q q 0 0 0 rg BT 473.45 599.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 523.36 599.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.25 Td (an unused commitment fee is assessed at a rate between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.03 587.25 Td (0.100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.86 587.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.30 587.25 Td (0.275%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.13 587.25 Td ( depending on our credit ratings. ) Tj ET Q q 0 0 0 rg BT 504.91 587.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.25 Td (unused commitment fee was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.64 575.25 Td (0.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.47 575.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.68 575.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.28 575.25 Td (. Borrowings under this facility may be used for general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.25 Td (partnership purposes, including capital expenditures. ) Tj ET Q q 0 0 0 rg BT 276.00 563.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.45 563.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.04 563.25 Td (, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.46 563.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.46 563.25 Td ( borrowings outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.25 Td (under this facility with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.32 551.25 Td ($6.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.21 551.25 Td ( obligated for letters of credit. ) Tj ET Q q 0 0 0 rg BT 329.05 551.25 Td (Amounts obligated for letters of credit are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.25 Td (reflected as debt on our consolidated balance sheets, but decrease our borrowing capacity under this facility) Tj ET Q q 0 0 0 rg BT 492.74 539.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 515.25 Td (At March 31, 2016, the total borrowing capacity under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.66 515.25 Td (364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.66 515.25 Td (-day credit facility was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.06 515.25 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.95 515.25 Td (. ) Tj ET Q q 0 0 0 rg BT 498.27 515.25 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 503.25 Td (credit facility matures on October 25, 2016, subject to a term-out option. ) Tj ET Q q 0 0 0 rg BT 358.30 503.25 Td (W) Tj ET Q q 0 0 0 rg BT 366.94 503.25 Td (e may exercise the term-out option no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 491.25 Td (later than 30 days prior to October 25, 2016 and elect to have all outstanding borrowings converted into a term loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 479.25 Td (due and payable on October 25, 2018, subject to the payment of a term-out fee. ) Tj ET Q q 0 0 0 rg BT 384.29 479.25 Td (Any borrowings under this credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 467.25 Td (facility are classified as current debt on our consolidated balance sheets. Borrowings under this facility are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 455.25 Td (unsecured and bear interest at LIBOR plus a spread ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.53 455.25 Td (1.000%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.36 455.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.13 455.25 Td (1.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.96 455.25 Td ( based on our credit ratings. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 443.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 112.90 443.25 Td (, an unused commitment fee is assessed at a rate between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.93 443.25 Td (0.080%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.76 443.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.20 443.25 Td (0.225%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.03 443.25 Td ( depending on our credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 431.25 Td (ratings. ) Tj ET Q q 0 0 0 rg BT 97.54 431.25 Td (The unused commitment fee was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.22 431.25 Td (0.100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.05 431.25 Td ( at March 31, 2016. Borrowings under this facility may be used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 419.25 Td (for general partnership purposes, including capital expenditures. ) Tj ET Q q 0 0 0 rg BT 322.09 419.25 Td (As of March 31, 2016, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.54 419.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.54 419.25 Td ( borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.25 Td (outstanding under this facility) Tj ET Q q 0 0 0 rg BT 182.05 407.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 383.25 Td (Commer) Tj ET Q q 0 0 0 rg BT 119.57 383.25 Td (cial Paper Pr) Tj ET Q q 0 0 0 rg BT 173.63 383.25 Td (ogram. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.25 383.25 Td (The maturities of our commercial paper notes vary) Tj ET Q q 0 0 0 rg BT 409.58 383.25 Td (, but may not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.10 383.25 Td (397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.10 383.25 Td ( days ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 371.25 Td (from the date of issuance. ) Tj ET Q q 0 0 0 rg BT 170.84 371.25 Td (The commercial paper notes are sold under customary terms in the commercial paper ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 359.25 Td (market and are issued at a discount from par) Tj ET Q q 0 0 0 rg BT 239.76 359.25 Td (, or alternatively) Tj ET Q q 0 0 0 rg BT 304.91 359.25 Td (, are sold at par and bear varying interest rates on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.25 Td (fixed or floating basis. ) Tj ET Q q 0 0 0 rg BT 157.80 347.25 Td (The commercial paper we can issue is limited by the amounts available under our revolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 335.25 Td (credit facility up to an aggregate principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.53 335.25 Td ($1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.64 335.25 Td ( and is classified as long-term debt. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 299.25 Td (8. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 299.25 Td (Derivative Financial Instruments) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 85.5 273.9169921875 m 185.0947265625 273.9169921875 l s q 0 0 0 rg BT 85.50 275.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 104.57 275.25 Td (est Rate Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 251.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 251.25 Td (e periodically enter into interest rate derivatives to hedge the fair value of our debt or interest on expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.25 Td (debt issuances, and we have historically designated these derivatives as cash flow or fair value hedges for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 227.25 Td (accounting purposes. ) Tj ET Q q 0 0 0 rg BT 151.87 227.25 Td (Adjustments resulting from discontinued hedges continue to be recognized in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 215.25 Td (their historic hedging relationships.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 191.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.44 191.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.04 191.25 Td (, we had entered into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.12 191.25 Td ($250.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.01 191.25 Td ( of forward-starting interest rate swap agreements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 179.25 Td (hedge against the risk of variability of future interest payments on a portion of debt we anticipate issuing in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 167.25 Td (The fair value of these contracts at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.77 167.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.37 167.25 Td ( was recorded on our consolidated balance sheets as an other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 155.25 Td (current liability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.25 155.25 Td ($1) Tj ET Q q 0 0 0 rg BT 147.88 155.25 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.77 155.25 Td (, with the of) Tj ET Q q 0 0 0 rg BT 239.92 155.25 Td (fset recorded to other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 427.44 155.25 Td (W) Tj ET Q q 0 0 0 rg BT 436.08 155.25 Td (e account for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 143.25 Td (agreements as cash flow hedges.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (15) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 85.5 657.7669921875 m 180.2021484375 657.7669921875 l s q 0 0 0 rg BT 85.50 659.10 Td (Commodity Derivatives) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 635.10 Td (Hedging Strategies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 611.10 Td (Our butane blending activities produce gasoline products, and we can reasonably estimate the timing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (quantities of sales of these products. ) Tj ET Q q 0 0 0 rg BT 210.29 599.10 Td (W) Tj ET Q q 0 0 0 rg BT 218.92 599.10 Td (e use a combination of NYMEX and forward purchase and sale contracts to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (help manage commodity price changes, which is intended to mitigate the risk of decline in the product mar) Tj ET Q q 0 0 0 rg BT 490.47 587.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.10 Td (realized from our butane blending activities that we choose to hedge. Further) Tj ET Q q 0 0 0 rg BT 372.78 575.10 Td (, certain of our other commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (operations generate petroleum products. ) Tj ET Q q 0 0 0 rg BT 228.32 563.10 Td (W) Tj ET Q q 0 0 0 rg BT 236.96 563.10 Td (e use NYMEX contracts to hedge against future price changes for some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (of these commodities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 527.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 527.10 Td (e account for the forward physical purchase and sale contracts we use in our butane blending and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (fractionation activities as normal purchases and sales. Forward contracts that qualify for and are elected as normal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 503.10 Td (purchases and sales are accounted for using traditional accrual accounting. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 479.10 Td (The NYMEX contracts that we enter into fall into one of three hedge categories:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 64.5 454.6 m 168.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 172.5 454.6 m 332.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 454.6 m 528.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 64.5 440.6 m 168.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168.5 440.6 m 172.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 172.5 440.6 m 332.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 440.6 m 336.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 440.6 m 528.5 440.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 64.5 336.6 m 168.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168.5 336.6 m 172.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 172.5 336.6 m 332.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 336.6 m 336.5 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 336.6 m 528.5 336.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 88.30 458.83 Td (Hedge Category) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.10 458.83 Td (Hedge Purpose) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.65 458.83 Td (Accounting Treatment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.50 444.83 Td (Qualifies For Hedge Accounting Treatment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 432.55 Td ( Cash Flow Hedge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 432.55 Td (To hedge the variability in cash flows related to) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 424.55 Td (a forecasted transaction.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 432.55 Td (The effective portion of changes in the fair value of the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 424.55 Td (hedge is recorded to accumulated other comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 416.55 Td (income/loss and reclassified to earnings when the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 408.55 Td (forecasted transaction occurs. Any ineffectiveness is) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 400.55 Td (recognized currently in earnings.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 388.55 Td ( Fair Value Hedge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 388.55 Td (To hedge against changes in the fair value of a) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 380.55 Td (recognized asset or liability.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 388.55 Td (The effective portion of changes in the fair value of the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 380.55 Td (hedge is recorded as adjustments to the asset or liability) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 372.55 Td (being hedged. Any ineffectiveness and amounts excluded) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 364.55 Td (from the assessment of hedge effectiveness is recognized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 356.55 Td (currently in earnings.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 208.50 340.83 Td (Does Not Qualify For Hedge Accounting Treatment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 328.55 Td ( Economic Hedge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 328.55 Td (T) Tj ET Q q 0 0 0 rg BT 179.33 328.55 Td (o ef) Tj ET Q q 0 0 0 rg BT 191.40 328.55 Td (fectively serve as either a fair value or a ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 320.55 Td (cash flow hedge; however) Tj ET Q q 0 0 0 rg BT 258.43 320.55 Td (, the derivative ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 312.55 Td (agreement does not qualify for hedge ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.00 304.55 Td (accounting treatment under ) Tj ET Q q 0 0 0 rg BT 264.08 304.55 Td (ASC 815, ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 175.00 296.55 Td (Derivatives and Hedging) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.43 296.55 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 328.55 Td (Changes in the fair value of these agreements are) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.00 320.55 Td (recognized currently in earnings.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 266.10 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.86 266.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.46 266.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.89 266.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.89 266.10 Td (, none of the commodity hedging contracts we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 254.10 Td (entered into qualified for or were designated as cash flow hedges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 230.10 Td (Period changes in the fair value of NYMEX agreements that are accounted for as economic hedges \(other than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 218.10 Td (those economic hedges of our butane purchases and our pipeline product overages as discussed below\), the ef) Tj ET Q q 0 0 0 rg BT 501.29 218.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 206.10 Td (portion of changes in the fair value of cash flow hedges that are reclassified from ) Tj ET Q q 0 0 0 rg BT 389.27 206.10 Td (AOCL) Tj ET Q q 0 0 0 rg BT 416.12 206.10 Td ( and any inef) Tj ET Q q 0 0 0 rg BT 467.86 206.10 Td (fectiveness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 194.10 Td (associated with hedges related to our commodity activities are recognized currently in earnings as adjustments to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 182.10 Td (product sales.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 158.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 158.10 Td (e also use NYMEX contracts, which are not designated as hedges for accounting purposes, to hedge against ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 146.10 Td (changes in the price of butane we expect to purchase in the future. Period changes in the fair value of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 134.10 Td (agreements are recognized currently in earnings as adjustments to cost of product sales. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 110.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 110.10 Td (e hold petroleum product inventories that we obtained from overages on our pipeline systems. ) Tj ET Q q 0 0 0 rg BT 474.97 110.10 Td (W) Tj ET Q q 0 0 0 rg BT 483.61 110.10 Td (e use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 98.10 Td (NYMEX contracts that are not designated as hedges for accounting purposes to help manage price changes related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 86.10 Td (to these inventory barrels. Period changes in the fair value of these agreements are recognized currently in earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 74.10 Td (as adjustments to operating expense.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 647.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 135.40 647.10 Td (, we hold crude oil barrels that we use for operational purposes, which we classify as a long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (asset on our consolidated balance sheets as tank bottoms. ) Tj ET Q q 0 0 0 rg BT 293.87 635.10 Td (W) Tj ET Q q 0 0 0 rg BT 302.51 635.10 Td (e use NYMEX contracts to hedge against changes in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 623.10 Td (price of these crude oil barrels. ) Tj ET Q q 0 0 0 rg BT 191.65 623.10 Td (W) Tj ET Q q 0 0 0 rg BT 200.29 623.10 Td (e record the ef) Tj ET Q q 0 0 0 rg BT 257.57 623.10 Td (fective portion of the gains or losses for those contracts that qualify ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 611.10 Td (as fair value hedges as adjustments to the assets being hedged and the inef) Tj ET Q q 0 0 0 rg BT 359.67 611.10 Td (fective portions as well as amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (excluded from the assessment of hedge ef) Tj ET Q q 0 0 0 rg BT 229.98 599.10 Td (fectiveness as adjustments to other income or expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 575.10 Td (As outlined in the table below) Tj ET Q q 0 0 0 rg BT 205.10 575.10 Td (, our open NYMEX contracts at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.35 575.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.95 575.10 Td ( were as follows:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 101 543.6 m 236 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 543.6 m 375 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 543.6 m 519 543.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 118.30 555.83 Td (Type of Contract/Accounting) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 145.55 547.83 Td (Methodology) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.15 555.83 Td (Product Represented by the Contract) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.95 547.83 Td (and Associated Barrels) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.35 547.83 Td (Maturity Dates) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 535.55 Td (NYMEX - Fair Value Hedges) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 535.55 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.50 535.55 Td (0.7 million barrels of crude oil) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.50 535.55 Td (...............) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.50 535.55 Td (Between April 2016 and November 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 522.55 Td (NYMEX - Economic Hedges) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 522.55 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.50 522.55 Td (3.6 million barrels of refined products) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.50 514.55 Td (and crude oil) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.50 514.55 Td (...........................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.50 522.55 Td (Between April 2016 and December 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 103.50 501.55 Td (NYMEX - Economic Hedges) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.50 501.55 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.50 501.55 Td (0.3 million barrels of future purchases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.50 493.55 Td (of butane) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.50 493.55 Td (.................................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.50 501.55 Td (Between April 2016 and December 2016) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 465.10 Td (Ener) Tj ET Q q 0 0 0 rg BT 104.57 465.10 Td (gy Commodity Derivatives Contracts and Deposits Offsets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 441.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.00 441.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.60 441.10 Td (, we had received mar) Tj ET Q q 0 0 0 rg BT 249.43 441.10 Td (gin deposits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.81 441.10 Td ($6.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.70 441.10 Td ( for our NYMEX contracts with one of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 429.10 Td (our counterparties, which were recorded as a current liability under ener) Tj ET Q q 0 0 0 rg BT 351.30 429.10 Td (gy commodity derivatives deposits on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 417.10 Td (consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 177.96 417.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 227.86 417.10 Td (, we made mar) Tj ET Q q 0 0 0 rg BT 286.54 417.10 Td (gin deposits of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.93 417.10 Td ($2.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.82 417.10 Td ( with a second counterparty) Tj ET Q q 0 0 0 rg BT 506.69 417.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 405.10 Td (which were recorded as a current asset under ener) Tj ET Q q 0 0 0 rg BT 262.16 405.10 Td (gy commodity derivatives deposits on our consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 393.10 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 92.26 393.10 Td (W) Tj ET Q q 0 0 0 rg BT 100.90 393.10 Td (e have the right to of) Tj ET Q q 0 0 0 rg BT 183.74 393.10 Td (fset the combined fair values of our open NYMEX contracts against our mar) Tj ET Q q 0 0 0 rg BT 490.13 393.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 381.10 Td (deposits under a master netting arrangement for each counterparty; however) Tj ET Q q 0 0 0 rg BT 367.20 381.10 Td (, we have elected to present the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 369.10 Td (combined fair values of our open NYMEX contracts separately from the related mar) Tj ET Q q 0 0 0 rg BT 400.47 369.10 Td (gin deposits on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 357.10 Td (balance sheets. ) Tj ET Q q 0 0 0 rg BT 124.92 357.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 174.82 357.10 Td (, we have the right to of) Tj ET Q q 0 0 0 rg BT 269.89 357.10 Td (fset the fair values of our NYMEX agreements together for each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 345.10 Td (counterparty) Tj ET Q q 0 0 0 rg BT 112.88 345.10 Td (, which we have elected to do, and we report the combined net balances on our consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 333.10 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 91.89 333.10 Td (A) Tj ET Q q 0 0 0 rg BT 98.56 333.10 Td ( schedule of the derivative amounts we have of) Tj ET Q q 0 0 0 rg BT 286.64 333.10 Td (fset and the deposit amounts we could of) Tj ET Q q 0 0 0 rg BT 450.04 333.10 Td (fset under a master ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 321.10 Td (netting arrangement are provided below as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.10 321.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.68 321.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.12 321.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.72 321.10 Td ( \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 297.6 m 268.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.25 297.6 m 272.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 297.6 m 336.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 297.6 m 340.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 297.6 m 404.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.25 297.6 m 408.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 297.6 m 472.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.25 297.6 m 476.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 297.6 m 530.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 85.25 252.60000000000002 m 202.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 297.6 m 268.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 252.60000000000002 m 268.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.25 297.6 m 272.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 297.6 m 336.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 252.60000000000002 m 336.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 297.6 m 340.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 297.6 m 404.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 252.60000000000002 m 404.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.25 297.6 m 408.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 297.6 m 472.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 252.60000000000002 m 472.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.25 297.6 m 476.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 297.6 m 530.25 297.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 252.60000000000002 m 530.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 252.60000000000002 m 268.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 238.60000000000002 m 268.25 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 236.60000000000002 m 268.25 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 252.60000000000002 m 336.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 238.60000000000002 m 336.25 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 236.60000000000002 m 336.25 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 238.60000000000002 m 404.25 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 236.60000000000002 m 404.25 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 252.60000000000002 m 472.25 252.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 238.60000000000002 m 472.25 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 236.60000000000002 m 472.25 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 238.60000000000002 m 530.25 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 236.60000000000002 m 530.25 236.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.50 301.83 Td (December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 123.45 256.83 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.45 272.83 Td (Gross Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.85 264.83 Td (of Recognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.05 256.83 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.45 288.83 Td (Gross Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.30 280.83 Td (of Liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.60 272.83 Td (Offset in the) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.30 264.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.30 256.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.05 288.83 Td (Net ) Tj ET Q q 0 0 0 rg BT 358.60 288.83 Td (Amounts of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.25 280.83 Td (Assets Pr) Tj ET Q q 0 0 0 rg BT 374.88 280.83 Td (esented ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.05 272.83 Td (in the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.30 264.83 Td (Consolidated ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.25 256.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 394.14 260.46 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.95 288.83 Td (Margin Deposit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.95 280.83 Td (Amounts Not) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.60 272.83 Td (Offset in the) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.30 264.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 256.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.85 264.83 Td (Net ) Tj ET Q q 0 0 0 rg BT 500.40 264.83 Td (Asset ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.70 256.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 513.70 260.46 Td (\(3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.75 241.85 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.75 241.55 Td (......) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.75 241.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.05 241.85 Td (48,367) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.75 241.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.35 241.85 Td (\(5,646) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.05 241.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.75 241.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.05 241.85 Td (42,721) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.75 241.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.35 241.85 Td (\(24,252) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.05 241.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 241.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 241.85 Td (18,469) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 210.60000000000002 m 268.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.25 210.60000000000002 m 272.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 210.60000000000002 m 336.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 210.60000000000002 m 340.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 210.60000000000002 m 404.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.25 210.60000000000002 m 408.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 210.60000000000002 m 472.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.25 210.60000000000002 m 476.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 210.60000000000002 m 530.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 85.25 165.60000000000002 m 202.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 210.60000000000002 m 268.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 165.60000000000002 m 268.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.25 210.60000000000002 m 272.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 210.60000000000002 m 336.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 165.60000000000002 m 336.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 210.60000000000002 m 340.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 210.60000000000002 m 404.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 165.60000000000002 m 404.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.25 210.60000000000002 m 408.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 210.60000000000002 m 472.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 165.60000000000002 m 472.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.25 210.60000000000002 m 476.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 210.60000000000002 m 530.25 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 165.60000000000002 m 530.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 165.60000000000002 m 268.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 151.60000000000002 m 268.25 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206.25 149.60000000000002 m 268.25 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 165.60000000000002 m 336.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 151.60000000000002 m 336.25 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.25 149.60000000000002 m 336.25 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 151.60000000000002 m 404.25 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 149.60000000000002 m 404.25 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 165.60000000000002 m 472.25 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 151.60000000000002 m 472.25 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.25 149.60000000000002 m 472.25 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 151.60000000000002 m 530.25 151.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.25 149.60000000000002 m 530.25 149.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.25 214.83 Td (March 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 123.45 169.83 Td (Description) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.45 185.83 Td (Gross Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.85 177.83 Td (of Recognized) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 226.05 169.83 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.45 201.83 Td (Gross Amounts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.30 193.83 Td (of Liabilities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.60 185.83 Td (Offset in the) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.30 177.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.30 169.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.05 201.83 Td (Net ) Tj ET Q q 0 0 0 rg BT 358.60 201.83 Td (Amounts of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.25 193.83 Td (Assets Pr) Tj ET Q q 0 0 0 rg BT 374.88 193.83 Td (esented ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.05 185.83 Td (in the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.30 177.83 Td (Consolidated ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.25 169.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 394.14 173.46 Td (\(2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 412.95 201.83 Td (Margin Deposit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 416.95 193.83 Td (Amounts Not) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.60 185.83 Td (Offset in the) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.30 177.83 Td (Consolidated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.30 169.83 Td (Balance Sheets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.85 177.83 Td (Net ) Tj ET Q q 0 0 0 rg BT 500.40 177.83 Td (Asset ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 485.70 169.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 513.70 173.46 Td (\(3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 87.75 154.85 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.75 154.55 Td (......) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.75 154.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 243.05 154.85 Td (24,081) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.75 154.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.35 154.85 Td (\(1,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.05 154.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.75 154.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.05 154.85 Td (22,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.75 154.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.35 154.85 Td (\(3,991) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.05 154.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 478.75 154.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 154.85 Td (18,601) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.00 121.90 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 99.00 121.90 Td (Net amount includes ener) Tj ET Q q 0 0 0 rg BT 180.83 121.90 Td (gy commodity derivative contracts classified as current assets, net, of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.76 121.90 Td ($39,243) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.76 121.90 Td ( and noncurrent assets of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 112.30 Td ($3,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.00 112.30 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.00 99.70 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 99.00 99.70 Td (Net amount includes ener) Tj ET Q q 0 0 0 rg BT 180.83 99.70 Td (gy commodity derivative contracts classified as current assets, net, of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.76 99.70 Td ($17,761) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.76 99.70 Td ( and noncurrent assets of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 90.10 Td ($4,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.00 90.10 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 81.00 77.50 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 99.00 77.50 Td (Amount represents the maximum loss we would incur if all of our counterparties failed to perform on their derivative contracts.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (17) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 87 657.7669921875 m 291.9609375 657.7669921875 l s q 0 0 0 rg BT 87.00 659.10 Td (Impact of Derivatives on Our Financial Statements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 635.10 Td (Compr) Tj ET Q q 0 0 0 rg BT 114.41 635.10 Td (ehensive Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 611.10 Td (The changes in derivative activity included in ) Tj ET Q q 0 0 0 rg BT 271.66 611.10 Td (AOCL) Tj ET Q q 0 0 0 rg BT 298.51 611.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.89 611.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.88 611.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.70 611.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.30 611.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.74 611.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.74 611.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (were as follows \(in thousands\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 111.85 498.10 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 566.6 m 421.6 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421.6 566.6 m 425.6 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 566.6 m 480.6 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 566.6 m 421.6 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 553.6 m 421.6 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 566.6 m 480.6 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 553.6 m 480.6 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 553.6 m 421.6 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 553.6 m 480.6 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 510.6 m 421.6 510.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 510.6 m 480.6 510.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 498.6 m 421.6 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 496.6 m 421.6 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 498.6 m 480.6 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425.6 496.6 m 480.6 496.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.20 580.68 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.10 569.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.10 569.68 Td (March 31,) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 117.1 556.580078125 m 242.223046875 556.580078125 l s q 0 0 0 rg BT 117.10 557.83 Td (Derivative Losses Included in AOCL) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.10 557.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.60 557.83 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.10 544.85 Td (Beginning balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 178.10 544.55 Td (...........................................................................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.10 544.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.70 544.85 Td (\(16,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.40 544.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 544.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.70 544.85 Td (\(30,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.40 544.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.10 529.85 Td (Net loss on interest rate contract cash flow hedges) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.10 529.55 Td (.........................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.70 529.85 Td (\(15,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.40 529.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.70 529.85 Td (\(12,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.40 529.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.10 514.85 Td (Reclassification of net loss on cash flow hedges to income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.10 514.55 Td (............................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.40 514.85 Td (200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.40 514.85 Td (388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 117.10 501.85 Td (Ending balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 168.10 501.55 Td (................................................................................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.10 501.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 393.70 501.85 Td (\(31,852) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.40 501.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.10 501.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.70 501.85 Td (\(42,216) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.40 501.85 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 477.10 Td (Income Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 456.10 Td (The following tables provide a summary of the ef) Tj ET Q q 0 0 0 rg BT 283.60 456.10 Td (fect on our consolidated statements of income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.81 456.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.79 456.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 444.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.33 444.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.92 444.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.36 444.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.36 444.10 Td ( of derivatives accounted for under ) Tj ET Q q 0 0 0 rg BT 365.97 444.10 Td (ASC 815-30, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.26 444.10 Td (Derivatives and Hedging) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 432.10 Td (Cash Flow Hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.11 432.10 Td (, that were designated as hedging instruments \(in thousands\): ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 408.6 m 198.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 408.6 m 238.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 408.6 m 260.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 408.6 m 264.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 408.6 m 342.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 408.6 m 346.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 408.6 m 370.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 408.6 m 410.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 408.6 m 437.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 408.6 m 441.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 408.6 m 465.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 408.6 m 505.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 408.6 m 531.5 408.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 383.6 m 370.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 383.6 m 410.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 383.6 m 437.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 383.6 m 441.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 383.6 m 465.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 383.6 m 505.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 383.6 m 531.5 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 369.6 m 172.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 369.6 m 198.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 369.6 m 238.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 369.6 m 260.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 369.6 m 342.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 369.6 m 370.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 369.6 m 410.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 369.6 m 437.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 369.6 m 465.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 369.6 m 505.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 369.6 m 531.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 369.6 m 238.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 357.6 m 238.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 355.6 m 238.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 369.6 m 410.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 357.6 m 410.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 355.6 m 410.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 369.6 m 505.5 369.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 357.6 m 505.5 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465.5 355.6 m 505.5 355.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.60 412.83 Td (Three Months Ended March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 190.85 389.83 Td (Amount of Loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 194.10 381.83 Td (Recognized in) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 182.65 373.83 Td (AOCLonDerivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.75 397.83 Td (LocationofLoss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.75 389.83 Td (Reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.80 381.83 Td (fromAOCLinto) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.30 373.83 Td (Income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.15 395.83 Td (Amount of Loss Reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.65 387.83 Td (fromAOCLintoIncome) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 79.35 373.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 373.83 Td (Effective Portion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.10 373.83 Td (Ineffective Portion) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 360.85 Td (Interest rate contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 360.55 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.00 360.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.60 360.85 Td (\(15,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 360.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.00 360.85 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.00 360.55 Td (..........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 360.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.60 360.85 Td (\(200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 360.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.00 360.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.25 360.85 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 333.6 m 198.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 333.6 m 238.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 333.6 m 260.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260.5 333.6 m 264.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 333.6 m 342.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 333.6 m 346.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 333.6 m 370.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 333.6 m 410.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 333.6 m 437.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 333.6 m 441.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 333.6 m 466.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 333.6 m 505.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 333.6 m 530.5 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 312.6 m 370.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 312.6 m 410.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 312.6 m 437.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 312.6 m 441.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 312.6 m 466.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 312.6 m 505.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 312.6 m 530.5 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 299.6 m 170.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 299.6 m 198.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 299.6 m 238.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 299.6 m 260.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 299.6 m 342.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 299.6 m 370.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 299.6 m 410.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410.5 299.6 m 437.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 299.6 m 466.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 299.6 m 505.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 299.6 m 530.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 299.6 m 238.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 287.6 m 238.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 285.6 m 238.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 299.6 m 410.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 287.6 m 410.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 285.6 m 410.5 285.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 299.6 m 505.5 299.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 287.6 m 505.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.5 285.6 m 505.5 285.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 337.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.10 337.83 Td (Three Months Ended March 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 189.85 319.83 Td (Amount of Loss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 193.10 311.83 Td (Recognized in) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 181.65 303.83 Td (AOCLonDerivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.75 325.68 Td (LocationofLoss) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.75 317.68 Td (Reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.80 309.68 Td (fromAOCLinto) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 289.30 301.73 Td (Income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.65 324.83 Td (Amount of Loss Reclassified) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.15 316.83 Td (fromAOCLintoIncome) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 78.35 303.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.50 303.83 Td (Effective Portion) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.60 303.83 Td (Ineffective Portion) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 290.85 Td (Interest rate contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 290.55 Td (................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.00 290.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.60 290.85 Td (\(12,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.30 290.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.00 290.85 Td (Interest expense) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.00 290.55 Td (..........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 290.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.60 290.85 Td (\(388) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.30 290.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.00 290.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.25 290.85 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 247.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.94 247.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.54 247.10 Td (, the net loss estimated to be classified to interest expense over the next twelve months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 235.10 Td (from ) Tj ET Q q 0 0 0 rg BT 84.39 235.10 Td (AOCL) Tj ET Q q 0 0 0 rg BT 111.24 235.10 Td ( is approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.17 235.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.06 235.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 211.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.33 211.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.33 211.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.77 211.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.77 211.10 Td (, we had open NYMEX contracts on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.06 211.10 Td (0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.96 211.10 Td ( barrels of crude oil that were designated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 199.10 Td (as fair value hedges. Because there was no inef) Tj ET Q q 0 0 0 rg BT 253.85 199.10 Td (fectiveness recognized on these hedges, the cumulative gains at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 187.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.58 187.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.02 187.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.62 187.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.95 187.10 Td ($27.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.84 187.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.28 187.10 Td ($27.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.17 187.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 417.83 187.10 Td (, from these agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 175.10 Td (were of) Tj ET Q q 0 0 0 rg BT 93.08 175.10 Td (fset by a cumulative decrease to tank bottoms and linefill. ) Tj ET Q q 0 0 0 rg BT 328.94 175.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 357.91 175.10 Td (ferential between the current spot price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 163.10 Td (and forward price is excluded from the assessment of hedge ef) Tj ET Q q 0 0 0 rg BT 312.73 163.10 Td (fectiveness for these fair value hedges. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.77 163.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 151.10 Td (months ended March 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.92 151.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.36 151.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.36 151.10 Td (, we recognized a \(gain\) loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.09 151.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.98 151.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.42 151.10 Td ($\(2.3\) million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.97 151.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 139.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 139.10 Td (, for the amounts we excluded from the assessment of ef) Tj ET Q q 0 0 0 rg BT 335.69 139.10 Td (fectiveness of these fair value hedges, which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 127.10 Td (reported as other expense \(income\) on our consolidated statements of income.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 659.10 Td (The following table provides a summary of the ef) Tj ET Q q 0 0 0 rg BT 283.60 659.10 Td (fect on our consolidated statements of income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.81 659.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (months ended March 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.92 647.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.36 647.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.36 647.10 Td ( of derivatives accounted for under ) Tj ET Q q 0 0 0 rg BT 365.97 647.10 Td (ASC 815, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.93 647.10 Td (Derivatives and Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.46 647.10 Td (, that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (were not designated as hedging instruments \(in thousands\): ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 604.6 m 402.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 604.6 m 406.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 604.6 m 466.5 604.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 582.6 m 402.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 582.6 m 406.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 582.6 m 466.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 126.5 569.6 m 235.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239.5 569.6 m 338.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 582.6 m 402.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 569.6 m 402.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 582.6 m 466.5 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 569.6 m 466.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 569.6 m 402.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 569.6 m 466.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 524.6 m 402.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 524.6 m 466.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 524.6 m 402.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 510.6 m 402.5 510.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 342.5 508.6 m 402.5 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 524.6 m 466.5 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 510.6 m 466.5 510.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 508.6 m 466.5 508.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 608.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.00 608.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.75 616.68 Td (Amount of Gain \(Loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.85 608.68 Td (Recognized on Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 367.60 596.68 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 585.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 248.15 581.83 Td (LocationofGain \(Loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 243.35 573.83 Td (RecognizedonDerivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.50 585.68 Td (March 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 142.35 573.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.00 573.83 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.00 573.83 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 558.85 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.00 558.55 Td (..) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.00 558.85 Td (Productsalesrevenue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.00 558.55 Td (...........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.00 558.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 558.85 Td (3,880) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.00 558.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.30 558.85 Td (15,982) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 543.85 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.00 543.55 Td (..) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.00 543.85 Td (Operating expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.00 543.55 Td (...............) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 543.85 Td (1,303) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.30 543.85 Td (2,599) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 129.00 528.85 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.00 528.55 Td (..) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 242.00 528.85 Td (Cost of product sales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 311.00 528.55 Td (............) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.60 528.85 Td (\(1,224) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.30 528.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.60 528.85 Td (\(428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 528.85 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.00 513.85 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 265.00 513.55 Td (...................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.00 513.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 513.85 Td (3,959) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.00 513.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.30 513.85 Td (18,153) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 489.10 Td (The impact of the derivatives in the above table was reflected as cash from operations on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 477.10 Td (statements of cash flows.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 456.10 Td (Balance Sheets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 435.10 Td (The following tables provide a summary of the fair value of derivatives accounted for under ) Tj ET Q q 0 0 0 rg BT 457.15 435.10 Td (ASC 815, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 423.10 Td (Derivatives and Hedging,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.03 423.10 Td ( which are presented on a net basis in our consolidated balance sheets, that were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 411.10 Td (designated as hedging instruments as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.64 411.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.22 411.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.66 411.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.26 411.10 Td ( \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 387.6 m 317.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 387.6 m 321.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 387.6 m 366.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 387.6 m 370.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 387.6 m 478.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 387.6 m 482.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 387.6 m 528.5 387.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 374.6 m 317.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 374.6 m 321.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 374.6 m 366.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 374.6 m 478.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 374.6 m 482.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 374.6 m 528.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 64.5 361.6 m 208.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212.5 361.6 m 317.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 361.6 m 366.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 361.6 m 478.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 361.6 m 528.5 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 314.6 m 366.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 314.6 m 528.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 314.6 m 366.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 302.6 m 366.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 300.6 m 366.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 314.6 m 528.5 314.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 302.6 m 528.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 300.6 m 528.5 300.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 391.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 337.75 391.83 Td (December 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 378.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.55 378.83 Td (Asset Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.00 378.83 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 97.85 365.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 224.50 365.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.65 365.83 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.00 365.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 365.83 Td (Fair Value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 353.55 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.00 353.55 Td (...................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 353.55 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.00 345.55 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 268.00 345.55 Td (.......................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 344.85 Td (60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 352.85 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.00 344.85 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.00 344.55 Td (.........................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.00 344.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.30 344.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 332.55 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 167.00 332.55 Td (...................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 332.55 Td (Other noncurrent assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.00 332.55 Td (...........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.25 331.85 Td (3,478) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 332.55 Td (Other noncurrent liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.00 332.55 Td (.......) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.30 331.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 67.00 319.55 Td (Interest rate contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 137.00 319.55 Td (..................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.00 319.55 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.00 319.55 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.25 318.85 Td (2,179) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.00 319.55 Td (Other current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.00 319.55 Td (.............) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.30 318.85 Td (653) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 306.55 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.00 306.55 Td (......................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.00 305.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.25 305.85 Td (5,717) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 305.85 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.00 305.55 Td (.......................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 485.00 305.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.30 305.85 Td (653) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.00 292.50 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 269 m 315.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 269 m 319.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 269 m 365.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 269 m 369.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 269 m 480.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 269 m 484.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 269 m 530.5 269 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 256 m 315.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 256 m 319.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 256 m 365.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 256 m 480.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 256 m 484.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 256 m 530.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 62.5 243 m 206.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 243 m 315.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 243 m 365.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 243 m 480.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 243 m 530.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 243 m 365.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 243 m 530.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 196 m 365.5 196 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 184 m 365.5 184 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 182 m 365.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 196 m 530.5 196 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 184 m 530.5 184 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 182 m 530.5 182 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 273.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 343.50 273.23 Td (March 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 260.25 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.05 260.23 Td (Asset Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 260.23 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 95.85 247.23 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 222.50 247.23 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.15 247.23 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.50 247.23 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 247.23 Td (Fair Value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 234.95 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.00 234.95 Td (...................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 234.95 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 222.00 226.95 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.00 226.95 Td (.......................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 226.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 226.25 Td (99) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 234.95 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.00 226.95 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.00 226.95 Td (..........................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 226.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.30 226.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 213.95 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 165.00 213.95 Td (...................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 213.95 Td (Other noncurrent assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.00 213.95 Td (...........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.25 213.25 Td (4,831) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 213.95 Td (Other noncurrent liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.00 213.95 Td (.........) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.30 213.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 200.95 Td (Interest rate contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 135.00 200.95 Td (..................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 200.95 Td (Other current assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.00 200.95 Td (.................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 200.25 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 200.95 Td (Other current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.00 200.95 Td (...............) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.25 200.25 Td (10,951) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.00 187.95 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.00 187.95 Td (......................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.00 187.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.25 187.25 Td (4,930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.00 187.95 Td (Total) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.00 187.95 Td (.........................................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 187.25 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.25 187.25 Td (10,951) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 297.00 173.90 Td () Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 647.10 Td (The following tables provide a summary of the fair value of derivatives accounted for under ) Tj ET Q q 0 0 0 rg BT 457.15 647.10 Td (ASC 815, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (Derivatives and Hedging,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.03 635.10 Td ( which are presented on a net basis in our consolidated balance sheets, that were not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 623.10 Td (designated as hedging instruments as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.64 623.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.22 623.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.66 623.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.26 623.10 Td ( \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 599.6 m 316.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 599.6 m 320.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 599.6 m 365.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 599.6 m 369.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 599.6 m 480.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 599.6 m 484.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 599.6 m 530.5 599.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 586.6 m 316.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 586.6 m 320.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 586.6 m 365.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 586.6 m 480.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 586.6 m 484.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 586.6 m 530.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 62.5 573.6 m 207.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 573.6 m 316.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 573.6 m 365.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 573.6 m 480.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 573.6 m 530.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 573.6 m 365.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 553.6 m 365.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 551.6 m 365.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 573.6 m 530.5 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 553.6 m 530.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 551.6 m 530.5 551.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 518.6 m 316.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 518.6 m 320.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 518.6 m 365.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 518.6 m 369.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 518.6 m 480.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 518.6 m 484.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 518.6 m 530.5 518.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 505.6 m 316.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 505.6 m 320.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 505.6 m 365.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 505.6 m 480.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 505.6 m 484.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 505.6 m 530.5 505.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 62.5 492.6 m 207.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211.5 492.6 m 316.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 492.6 m 365.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 492.6 m 480.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 492.6 m 530.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 492.6 m 365.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 472.6 m 365.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320.5 470.6 m 365.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 492.6 m 530.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 472.6 m 530.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 470.6 m 530.5 470.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 603.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.25 603.83 Td (December 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 590.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.55 590.83 Td (Asset Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 590.83 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 96.35 577.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.50 577.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.65 577.83 Td (FairValue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.50 577.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 577.83 Td (FairValue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 565.55 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.00 565.55 Td (....................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.00 565.55 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.00 557.55 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.00 557.55 Td (.......................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.00 556.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.25 556.85 Td (44,829) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 565.55 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.00 557.55 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.00 557.55 Td (..........................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 556.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.25 556.85 Td (5,646) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 522.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.00 522.83 Td (March 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 509.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.55 509.83 Td (Asset Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.50 509.83 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 96.35 496.83 Td (Derivative Instrument) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 223.50 496.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.65 496.83 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 384.50 496.83 Td (Balance Sheet Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.15 496.83 Td (Fair Value) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 65.00 484.55 Td (NYMEX commodity contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.00 484.55 Td (....................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 214.00 483.85 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.00 475.85 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.00 475.55 Td (.......................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.00 475.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.25 475.85 Td (19,151) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 483.85 Td (Energy commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.00 475.85 Td (contracts, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.00 475.55 Td (..........................) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.00 475.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.25 475.85 Td (1,489) Tj ET Q BT /F1 10.00 Tf ET BT /F1 14.00 Tf ET q 0 0 0 rg BT 297.00 455.30 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 426.50 Td (9. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 426.50 Td (Commitments and Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 402.50 Td (Envir) Tj ET Q q 0 0 0 rg BT 107.35 402.50 Td (onmental Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.62 402.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 378.50 Td (Liabilities recognized for estimated environmental costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.08 378.50 Td ($31.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.97 378.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.41 378.50 Td ($32.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 378.50 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 366.50 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.58 366.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.02 366.50 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.62 366.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 277.28 366.50 Td (. ) Tj ET Q q 0 0 0 rg BT 282.10 366.50 Td (W) Tj ET Q q 0 0 0 rg BT 290.74 366.50 Td (e have classified environmental liabilities as current or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 354.50 Td (noncurrent based on management) Tj ET Q q 0 0 0 rg BT 200.45 354.50 Td (s estimates regarding the timing of actual payments. Management estimates that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 342.50 Td (expenditures associated with these environmental liabilities will be paid over the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.90 342.50 Td (9 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.50 342.50 Td (. Environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 330.50 Td (expenditures recognized as a result of changes in our environmental liabilities are generally included in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 318.50 Td (expenses on our consolidated statements of income. Environmental expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.35 318.50 Td (three months ended March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 306.50 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 306.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.44 306.50 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.44 306.50 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.87 306.50 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.76 306.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.20 306.50 Td ($3.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.09 306.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 316.75 306.50 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 282.50 Td (Envir) Tj ET Q q 0 0 0 rg BT 108.85 282.50 Td (onmental Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.31 282.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 258.50 Td (Receivables from insurance carriers and other third parties related to environmental matters were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.67 258.50 Td ($2.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.56 258.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 246.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.72 246.50 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.30 246.50 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.07 246.50 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.96 246.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.40 246.50 Td ($1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.29 246.50 Td ( were recorded to other accounts receivable and long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 234.50 Td (term receivables, respectively) Tj ET Q q 0 0 0 rg BT 181.46 234.50 Td (, on our consolidated balance sheets. Receivables from insurance carriers and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 222.50 Td (third parties related to environmental matters were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.64 222.50 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.54 222.50 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.75 222.50 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.35 222.50 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.12 222.50 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.01 222.50 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.45 222.50 Td ($1.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 210.50 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 210.50 Td ( were recorded to other accounts receivable and long-term receivables, respectively) Tj ET Q q 0 0 0 rg BT 424.69 210.50 Td (, on our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 198.50 Td (balance sheets.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 177.50 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.33 177.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 156.50 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 156.50 Td (e are a party to various other claims, legal actions and complaints arising in the ordinary course of business, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 144.50 Td (including without limitation those disclosed in Item 1, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.15 144.50 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 317.05 144.50 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.04 144.50 Td ( of Part II of this report on Form 10-Q. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 132.50 Td (While the results cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 268.66 132.50 Td (, management believes the ultimate resolution of these claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 120.50 Td (legal actions and complaints after consideration of amounts accrued, insurance coverage or other indemnification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 108.50 Td (arrangements will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 256.90 108.50 Td (fect on our results of operations, financial position or cash flows.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 659.25 Td (10. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 659.25 Td (Long-T) Tj ET Q q 0 0 0 rg BT 116.81 659.25 Td (erm Incentive Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 642.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 642.25 Td (e have a long-term incentive plan \(L) Tj ET Q q 0 0 0 rg BT 244.65 642.25 Td (TIP\) for certain of our employees and directors of our general partner) Tj ET Q q 0 0 0 rg BT 526.48 642.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (The L) Tj ET Q q 0 0 0 rg BT 86.24 630.25 Td (TIP) Tj ET Q q 0 0 0 rg BT 100.87 630.25 Td ( primarily consists of phantom units and permits the grant of awards covering an aggregate payout of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.70 630.25 Td (9.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 618.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 618.25 Td ( of our limited partner units as of March 31, 2016. ) Tj ET Q q 0 0 0 rg BT 297.22 618.25 Td (The compensation committee of our general partner) Tj ET Q q 0 0 0 rg BT 505.29 618.25 Td () Tj ET Q q 0 0 0 rg BT 508.07 618.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 606.25 Td (board of directors administers our L) Tj ET Q q 0 0 0 rg BT 206.21 606.25 Td (TIP) Tj ET Q q 0 0 0 rg BT 220.10 606.25 Td (. ) Tj ET Q q 0 0 0 rg BT 227.42 606.25 Td (The estimated units available under the L) Tj ET Q q 0 0 0 rg BT 392.00 606.25 Td (TIP) Tj ET Q q 0 0 0 rg BT 406.63 606.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.84 606.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.44 606.25 Td ( total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.22 606.25 Td (0.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 594.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 594.25 Td (. On ) Tj ET Q q 0 0 0 rg BT 111.06 594.25 Td (April 21, 2016, our unitholders approved the compensation committee) Tj ET Q q 0 0 0 rg BT 395.45 594.25 Td (s amended plan, which increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 582.25 Td (the number of limited partner units available to be issued pursuant to the L) Tj ET Q q 0 0 0 rg BT 360.62 582.25 Td (TIP) Tj ET Q q 0 0 0 rg BT 375.25 582.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.02 582.25 Td (1) Tj ET Q q 0 0 0 rg BT 392.65 582.25 Td (1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.54 582.25 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 572.65 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 560.65 Td (Our equity-based incentive compensation expense was as follows \(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 528.15 m 358.5 528.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 528.15 m 362.5 528.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 528.15 m 407.5 528.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 528.15 m 411.5 528.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 528.15 m 456.5 528.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 507.15 m 358.5 507.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 507.15 m 407.5 507.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 507.15 m 456.5 507.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 507.15 m 358.5 507.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 507.15 m 407.5 507.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 432.15 m 358.5 432.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 432.15 m 407.5 432.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 432.15 m 456.5 432.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 432.15 m 358.5 432.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 418.15 m 358.5 418.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 416.15 m 358.5 416.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 432.15 m 407.5 432.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 418.15 m 407.5 418.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 416.15 m 407.5 416.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 418.15 m 456.5 418.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 416.15 m 456.5 416.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 361.15 m 456.5 361.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 361.15 m 456.5 361.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 347.15 m 456.5 347.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 345.15 m 456.5 345.15 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.10 542.23 Td (Three Months Ended) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 139.00 531.10 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.00 531.23 Td (March 31, 2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 139.00 511.40 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.90 519.38 Td (Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.15 511.38 Td (Method) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.80 519.38 Td (Liability) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.15 511.38 Td (Method) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.75 511.38 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 497.72 Td (Performance-based awards:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 482.72 Td (2013 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 482.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 481.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 481.82 Td (1,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 481.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 481.82 Td (215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 481.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 481.82 Td (1,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 467.72 Td (2014 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 467.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 466.82 Td (1,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 466.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 466.82 Td (1,623) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 452.72 Td (2015 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 452.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 451.82 Td (1,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 451.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 451.82 Td (1,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 437.72 Td (Time-based awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 437.72 Td (.....................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 436.82 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 436.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 436.82 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.00 422.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.00 422.72 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 421.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 421.82 Td (4,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 421.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 421.82 Td (215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 421.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 421.82 Td (4,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 395.72 Td (Allocation of LTIP expense on our consolidated statements of income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 381.72 Td (G&A expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.50 381.72 Td (.........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 380.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 380.82 Td (4,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 366.72 Td (Operating expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 366.72 Td (.................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 365.82 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.00 351.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.00 351.72 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 350.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 350.82 Td (4,751) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 315.15 m 358.5 315.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 315.15 m 362.5 315.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 315.15 m 407.5 315.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 315.15 m 411.5 315.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 315.15 m 456.5 315.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 294.15 m 358.5 294.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 294.15 m 407.5 294.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 294.15 m 456.5 294.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 294.15 m 358.5 294.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 294.15 m 407.5 294.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 219.14999999999998 m 358.5 219.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 219.14999999999998 m 407.5 219.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 219.14999999999998 m 456.5 219.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 205.14999999999998 m 358.5 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 203.14999999999998 m 358.5 203.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 205.14999999999998 m 407.5 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 203.14999999999998 m 407.5 203.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 205.14999999999998 m 456.5 205.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 203.14999999999998 m 456.5 203.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 148.14999999999998 m 456.5 148.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 134.14999999999998 m 456.5 134.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 132.14999999999998 m 456.5 132.14999999999998 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.10 328.23 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.00 317.28 Td (March 31, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 139.00 298.40 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.90 306.38 Td (Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.15 298.38 Td (Method) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.80 306.38 Td (Liability) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 371.15 298.38 Td (Method) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.75 298.38 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 284.72 Td (Performance-based awards:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 269.72 Td (2014 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 269.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 268.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 268.82 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 268.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 268.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 268.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 268.82 Td (3,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 254.72 Td (2015 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 254.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 253.82 Td (1,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 253.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 253.82 Td (1,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 239.72 Td (2016 awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.50 239.72 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 238.82 Td (1,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 238.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 238.82 Td (1,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 224.72 Td (Time-based awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 224.72 Td (.....................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 223.82 Td (576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 223.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 223.82 Td (576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.00 209.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.00 209.72 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 208.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 208.82 Td (6,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 208.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 208.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 208.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 208.82 Td (6,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.00 182.72 Td (Allocation of LTIP expense on our consolidated statements of income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 168.72 Td (G&A expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.50 168.72 Td (.........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 167.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 167.82 Td (6,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.00 153.72 Td (Operating expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.50 153.72 Td (.................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 152.82 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.00 138.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.00 138.72 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 137.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 137.82 Td (6,650) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 105.65 Td (In February 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.93 105.65 Td (218,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.43 105.65 Td ( phantom unit awards were issued pursuant to our L) Tj ET Q q 0 0 0 rg BT 398.97 105.65 Td (TIP) Tj ET Q q 0 0 0 rg BT 412.86 105.65 Td (. ) Tj ET Q q 0 0 0 rg BT 420.18 105.65 Td (These grants included both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 93.65 Td (performance-based and time-based phantom unit awards and have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.06 93.65 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.04 93.65 Td (-year vesting period that will end on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 81.65 Td (December 31, 2018.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 659.10 Td (In February 2016, we issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.59 659.10 Td (350,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.09 659.10 Td ( limited partner units to settle unit award grants to certain employees that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (vested on December 31, 2015. Further) Tj ET Q q 0 0 0 rg BT 218.67 647.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.67 647.10 Td (3,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.17 647.10 Td ( limited partner units were issued during 2016 to settle the equity-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (based retainers paid to the directors of our general partner) Tj ET Q q 0 0 0 rg BT 293.74 635.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 611.10 Td (Basic and Diluted Net Income Per Limited Partner Unit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 587.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 114.47 587.10 Td (ference between our actual limited partner units outstanding and our weighted-average number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.10 Td (limited partner units outstanding used to calculate earnings per unit is due to the impact of: \(i\) the phantom units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (issued to non-employee directors which are included in the calculation of basic and diluted weighted average units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (outstanding, and \(ii\) the weighted average ef) Tj ET Q q 0 0 0 rg BT 241.36 551.10 Td (fect of units actually issued during a period. ) Tj ET Q q 0 0 0 rg BT 421.69 551.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 450.67 551.10 Td (ference between the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (weighted-average number of limited partner units outstanding used for basic and diluted net income per unit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (calculations on our consolidated statements of income is primarily the dilutive ef) Tj ET Q q 0 0 0 rg BT 386.34 527.10 Td (fect of phantom unit grants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (associated with our L) Tj ET Q q 0 0 0 rg BT 147.89 515.10 Td (TIP) Tj ET Q q 0 0 0 rg BT 162.52 515.10 Td ( that have not yet vested.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 479.10 Td (1) Tj ET Q q 0 0 0 rg BT 67.45 479.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 479.10 Td (Distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 462.10 Td (Distributions we paid during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.21 462.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.21 462.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 462.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.65 462.10 Td ( were as follows \(in thousands, except per unit amounts\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 153.85 309.10 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 156.6 422.6 m 259.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.6 422.6 m 275.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 422.6 m 335.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.6 422.6 m 347.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.6 422.6 m 363.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 422.6 m 426.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.6 422.6 m 438.6 422.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 374.6 m 335.6 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 363.6 m 335.6 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 361.6 m 335.6 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 374.6 m 426.6 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 363.6 m 426.6 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 361.6 m 426.6 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 324.6 m 335.6 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 324.6 m 426.6 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 324.6 m 335.6 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 313.6 m 335.6 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.6 311.6 m 335.6 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 324.6 m 426.6 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 313.6 m 426.6 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.6 311.6 m 426.6 311.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 183.45 426.83 Td (Payment Date) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.95 442.83 Td (Per) Tj ET Q q 0 0 0 rg BT 292.79 442.83 Td (Unit Cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 284.20 434.83 Td (Distribution) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 291.05 426.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 354.25 434.83 Td (Total Cash Distribution) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.80 426.83 Td (to Limited Partners) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 413.22 Td (02/13/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.10 413.22 Td (....................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 413.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 413.22 Td (0.6950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 413.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 413.22 Td (158,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 401.22 Td (05/15/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.10 401.22 Td (....................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 401.22 Td (0.7175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 401.22 Td (163,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 389.22 Td (08/14/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.10 389.22 Td (....................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 389.22 Td (0.7400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 389.22 Td (168,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 377.22 Td (11/13/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.10 377.22 Td (....................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 377.22 Td (0.7625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 377.22 Td (173,413) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.10 365.22 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.60 365.22 Td (.......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 365.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 365.22 Td (2.9150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 365.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 365.22 Td (662,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 341.22 Td (2/12/2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.10 341.22 Td (......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 341.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 341.22 Td (0.7850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 341.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 341.22 Td (178,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.10 329.17 Td (5/13/2016) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 199.66 333.70 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 329.17 Td (0.8025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 329.17 Td (182,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.10 315.22 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.60 315.22 Td (.......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 315.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.25 315.22 Td (1.5875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.10 315.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.25 315.22 Td (361,605) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 175.50 289.90 Td (\(1\) Our general partner) Tj ET Q q 0 0 0 rg BT 251.76 289.90 Td () Tj ET Q q 0 0 0 rg BT 253.98 289.90 Td (s board of directors declared this cash distribution ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.00 280.30 Td (in ) Tj ET Q q 0 0 0 rg BT 196.78 280.30 Td (April 2016 to be paid on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.21 280.30 Td (May 13, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 321.88 280.30 Td ( to unitholders of record at ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.00 270.70 Td (the close of business on ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.99 270.70 Td (May2, 2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.65 270.70 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 180.00 261.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 239.50 Td (12. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 239.50 Td (Fair) Tj ET Q q 0 0 0 rg BT 103.64 239.50 Td ( ) Tj ET Q q 0 0 0 rg BT 105.96 239.50 Td (V) Tj ET Q q 0 0 0 rg BT 112.27 239.50 Td (alue) Tj ET Q BT /F3 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 87 214.1669921875 m 127.546875 214.1669921875 l s q 0 0 0 rg BT 87.00 215.50 Td (Recurring) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 191.50 Td (Fair V) Tj ET Q q 0 0 0 rg BT 112.28 191.50 Td (alue Methods and ) Tj ET Q q 0 0 0 rg BT 186.25 191.50 Td (Assumptions - Financial ) Tj ET Q q 0 0 0 rg BT 286.35 191.50 Td (Assets and Liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 167.50 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 167.50 Td (e used the following methods and assumptions in estimating fair value of our financial assets and liabilities:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 143.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 143.50 Td (Ener) Tj ET Q q 0 0 0 rg BT 154.07 143.50 Td (gy commodity derivatives contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.97 143.50 Td (. ) Tj ET Q q 0 0 0 rg BT 303.29 143.50 Td (These include NYMEX futures agreements related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 131.50 Td (petroleum products. ) Tj ET Q q 0 0 0 rg BT 219.80 131.50 Td (These contracts are carried at fair value on our consolidated balance sheets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 119.50 Td (and are valued based on quoted prices in active markets. See Note 8 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.35 119.50 Td (Derivative Financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 107.50 Td (Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.22 107.50 Td ( for further disclosures regarding these contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 83.50 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 83.50 Td (Inter) Tj ET Q q 0 0 0 rg BT 154.07 83.50 Td (est rate contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.50 83.50 Td (These include forward-starting interest rate swap agreements to hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 71.50 Td (against the risk of variability of interest payments on future debt. ) Tj ET Q q 0 0 0 rg BT 396.97 71.50 Td (These contracts are carried at fair ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.05 696.00 Td (MAGELLAN MIDSTREAM P) Tj ET Q q 0 0 0 rg BT 328.64 696.00 Td (AR) Tj ET Q q 0 0 0 rg BT 342.73 696.00 Td (TNERS, L.P) Tj ET Q q 0 0 0 rg BT 395.44 696.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 659.10 Td (value on our consolidated balance sheets and are valued based on an assumed exchange, at the end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 647.10 Td (of each period, in an orderly transaction with a market participant in the market in which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 635.10 Td (financial instrument is traded. ) Tj ET Q q 0 0 0 rg BT 256.73 635.10 Td (The exchange value was calculated using present value techniques ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 623.10 Td (on estimated future cash flows based on forward interest rate curves. See Note 8 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.00 623.10 Td (Derivative ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 611.10 Td (Financial Instruments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.10 611.10 Td (for further disclosures regarding these contracts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 587.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 587.10 Td (Long-term r) Tj ET Q q 0 0 0 rg BT 183.24 587.10 Td (eceivables. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.88 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.20 587.10 Td (These include primarily lease payments receivable under a direct-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 575.10 Td (financing leasing arrangement. Fair value was determined by estimating the present value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 563.10 Td (future cash flows using current market rates.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 108.00 539.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 135.00 539.10 Td (Debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.94 539.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.26 539.10 Td (The fair value of our publicly traded notes was based on the prices of those notes at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 527.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.58 527.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.02 527.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.62 527.10 Td (; however) Tj ET Q q 0 0 0 rg BT 335.93 527.10 Td (, where recent observable market trades were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 515.10 Td (not available, prices were determined using adjustments to the last traded value for that debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 503.10 Td (issuance or by adjustments to the prices of similar debt instruments of peer entities that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 491.10 Td (actively traded.) Tj ET Q q 0 0 0 rg BT 198.96 491.10 Td (The carrying amount of borrowings, if any) Tj ET Q q 0 0 0 rg BT 369.09 491.10 Td (, under our revolving credit facility and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 479.10 Td (our commercial paper program approximates fair value due to the frequent repricing of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.00 467.10 Td (obligations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 443.10 Td (Fair V) Tj ET Q q 0 0 0 rg BT 112.28 443.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 162.18 443.10 Td (ements - Financial ) Tj ET Q q 0 0 0 rg BT 239.48 443.10 Td (Assets and Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 419.10 Td (The following tables summarize the carrying amounts, fair values and recurring fair value measurements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.10 Td (recorded or disclosed as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.68 407.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.27 407.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.71 407.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 407.10 Td (, based on the three levels established by ) Tj ET Q q 0 0 0 rg BT 498.98 407.10 Td (ASC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 395.10 Td (820, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 83.00 395.10 Td (Fair V) Tj ET Q q 0 0 0 rg BT 108.28 395.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 158.18 395.10 Td (ements and Disclosur) Tj ET Q q 0 0 0 rg BT 244.46 395.10 Td (es ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.29 395.10 Td (\(in thousands\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 373.6 m 255.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 373.6 m 259.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 373.6 m 315.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 373.6 m 319.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 373.6 m 375.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 373.6 m 379.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 373.6 m 435.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 373.6 m 439.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 373.6 m 495.5 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 362.6 m 375.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 362.6 m 379.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 362.6 m 435.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 362.6 m 439.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 362.6 m 495.5 362.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 310.6 m 196.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 310.6 m 255.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 310.6 m 315.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 310.6 m 375.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 310.6 m 435.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 310.6 m 495.5 310.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 305.45 376.68 Td (As of December 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 98.05 314.83 Td (Assets \(Liabilities\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.00 365.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.70 365.68 Td (Fair Value Measurements using:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.70 322.83 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.45 314.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.15 314.83 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 354.68 Td (QuotedPrices ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.00 346.68 Td (in ) Tj ET Q q 0 0 0 rg BT 341.23 346.68 Td (Active ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.55 338.68 Td (Markets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.85 330.68 Td (for) Tj ET Q q 0 0 0 rg BT 335.92 330.68 Td ( Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.30 322.68 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.00 314.68 Td (\(Level 1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.55 346.83 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.85 338.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.40 330.83 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.85 322.83 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 314.83 Td (\(Level 2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.55 338.83 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.40 330.83 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.85 322.83 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 314.83 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 301.17 Td (Energy commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 291.17 Td (contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 291.17 Td (................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 290.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.15 290.27 Td (42,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 290.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 290.27 Td (42,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 290.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 290.27 Td (42,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 290.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 290.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 290.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 290.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 276.17 Td (Interest rate contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 276.17 Td (................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 276.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.15 276.17 Td (1,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 276.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 276.17 Td (1,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 276.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 276.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 276.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.15 276.17 Td (1,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 276.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 276.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 262.17 Td (Long-term receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 262.17 Td (..............) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.15 262.17 Td (20,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 262.17 Td (20,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 262.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 262.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 262.17 Td (20,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 248.17 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 248.17 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.30 248.17 Td (\(3,439,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 248.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.30 248.17 Td (\(3,284,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 248.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 248.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.30 248.22 Td (\(3,284,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 248.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 248.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 248.17 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 210.60000000000002 m 255.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255.5 210.60000000000002 m 259.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 210.60000000000002 m 315.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 210.60000000000002 m 319.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 210.60000000000002 m 375.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 210.60000000000002 m 379.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 210.60000000000002 m 435.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 210.60000000000002 m 439.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 210.60000000000002 m 495.5 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 199.60000000000002 m 375.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 199.60000000000002 m 379.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 199.60000000000002 m 435.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 199.60000000000002 m 439.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 199.60000000000002 m 495.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 147.60000000000002 m 196.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 147.60000000000002 m 255.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 147.60000000000002 m 315.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 147.60000000000002 m 375.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 147.60000000000002 m 435.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 147.60000000000002 m 495.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 147.60000000000002 m 196.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200.5 147.60000000000002 m 255.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 147.60000000000002 m 315.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.5 147.60000000000002 m 375.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 147.60000000000002 m 435.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 147.60000000000002 m 495.5 147.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 311.20 213.68 Td (As of March 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 98.05 151.83 Td (Assets \(Liabilities\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 203.00 202.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.70 202.68 Td (Fair Value Measurements using:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 211.70 159.83 Td (Carrying) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.45 151.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.15 151.83 Td (Fair Value) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.85 191.68 Td (Quoted Prices ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.00 183.68 Td (in ) Tj ET Q q 0 0 0 rg BT 340.23 183.68 Td (Active ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.55 175.68 Td (Markets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.85 167.68 Td (for) Tj ET Q q 0 0 0 rg BT 335.92 167.68 Td ( Identical) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.30 159.68 Td (Assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.00 151.68 Td (\(Level 1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 388.55 183.83 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.85 175.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.40 167.83 Td (Observable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.85 159.83 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 392.00 151.83 Td (\(Level 2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 448.55 175.83 Td (Significant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.40 167.83 Td (Unobservable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.85 159.83 Td (Inputs) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.00 151.83 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 138.17 Td (Energy commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 128.17 Td (contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.00 128.17 Td (................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 127.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.15 127.27 Td (22,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 127.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 127.27 Td (22,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 127.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 127.27 Td (22,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 127.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 127.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 127.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 127.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 113.17 Td (Interest rate contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 113.17 Td (................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 112.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.80 112.27 Td (\(10,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 112.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 112.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.80 112.27 Td (\(10,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.65 112.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 112.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 112.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 112.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.80 112.32 Td (\(10,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.65 112.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 112.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 112.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 98.17 Td (Long-term receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 98.17 Td (..............) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.00 97.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.15 97.27 Td (20,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.00 97.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.15 97.27 Td (21,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 97.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.65 97.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 97.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 97.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 97.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.15 97.27 Td (21,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 83.17 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 83.17 Td (...........................................) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.20 684.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 175.42 684.00 Td (T) Tj ET Q q 0 0 0 rg BT 181.91 684.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 252.01 684.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 331.19 684.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 345.18 684.00 Td (A) Tj ET Q q 0 0 0 rg BT 351.66 684.00 Td (TEMENTS \(Continued\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (13. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 647.10 Td (Related Party ) Tj ET Q q 0 0 0 rg BT 146.96 647.10 Td (T) Tj ET Q q 0 0 0 rg BT 152.89 647.10 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 623.10 Td (Barry R. Pearl is an independent member of our general partner) Tj ET Q q 0 0 0 rg BT 345.00 623.10 Td () Tj ET Q q 0 0 0 rg BT 347.78 623.10 Td (s board of directors and was also a director of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 611.10 Td (the general partner of ) Tj ET Q q 0 0 0 rg BT 151.11 611.10 Td (T) Tj ET Q q 0 0 0 rg BT 156.52 611.10 Td (ar) Tj ET Q q 0 0 0 rg BT 164.10 611.10 Td (ga Resources Partners, L.P) Tj ET Q q 0 0 0 rg BT 270.47 611.10 Td (. \(T) Tj ET Q q 0 0 0 rg BT 291.15 611.10 Td (ar) Tj ET Q q 0 0 0 rg BT 298.74 611.10 Td (ga\) through February 29, 2016. In the normal course of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (business, we purchase butane from subsidiaries of ) Tj ET Q q 0 0 0 rg BT 265.55 599.10 Td (T) Tj ET Q q 0 0 0 rg BT 270.96 599.10 Td (ar) Tj ET Q q 0 0 0 rg BT 278.55 599.10 Td (ga. For the three-month period ended March 31, 2015 and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (two-month period ended February 29, 2016, we made purchases of butane from subsidiaries of ) Tj ET Q q 0 0 0 rg BT 444.94 587.10 Td (T) Tj ET Q q 0 0 0 rg BT 450.35 587.10 Td (ar) Tj ET Q q 0 0 0 rg BT 457.94 587.10 Td (ga of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.71 587.10 Td ($8.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.60 587.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 575.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 575.10 Td ($4.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.83 575.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 181.49 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 188.81 575.10 Td (These purchases were based on the then-current index prices. ) Tj ET Q q 0 0 0 rg BT 438.81 575.10 Td (W) Tj ET Q q 0 0 0 rg BT 447.44 575.10 Td (e had recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (payables to ) Tj ET Q q 0 0 0 rg BT 110.58 563.10 Td (T) Tj ET Q q 0 0 0 rg BT 115.99 563.10 Td (ar) Tj ET Q q 0 0 0 rg BT 123.58 563.10 Td (ga of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.35 563.10 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.24 563.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.46 563.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.04 563.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 539.10 Td (Stacy P) Tj ET Q q 0 0 0 rg BT 119.17 539.10 Td (. Methvin was elected as an independent member of our general partner) Tj ET Q q 0 0 0 rg BT 406.09 539.10 Td () Tj ET Q q 0 0 0 rg BT 408.87 539.10 Td (s board of directors on ) Tj ET Q q 0 0 0 rg BT 500.80 539.10 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (23, 2015 and is also a director of one of our customers. ) Tj ET Q q 0 0 0 rg BT 288.04 527.10 Td (W) Tj ET Q q 0 0 0 rg BT 296.68 527.10 Td (e received tarif) Tj ET Q q 0 0 0 rg BT 356.46 527.10 Td (f revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.26 527.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 527.10 Td ( for the three-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.48 515.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.08 515.10 Td ( and recorded receivables of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.29 515.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.19 515.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.62 515.10 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.52 515.10 Td ( from this customer at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 503.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.58 503.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.02 503.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.62 503.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 277.28 503.10 Td (. ) Tj ET Q q 0 0 0 rg BT 284.60 503.10 Td (The tarif) Tj ET Q q 0 0 0 rg BT 319.12 503.10 Td (f revenue we recognized from this customer was in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 491.10 Td (the normal course of business, with rates determined in accordance with published tarif) Tj ET Q q 0 0 0 rg BT 411.88 491.10 Td (fs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 467.10 Td (See Note 4 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 143.88 467.10 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 246.83 467.10 Td (olled Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.88 467.10 Td ( for a discussion of af) Tj ET Q q 0 0 0 rg BT 386.06 467.10 Td (filiate joint venture transactions we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 455.10 Td (account for under the equity method.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 419.10 Td (14. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 419.10 Td (Subsequent Events) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 395.10 Td (Recognizable events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 371.10 Td (No recognizable events occurred subsequent to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.04 371.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.64 371.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 347.10 Td (Non-r) Tj ET Q q 0 0 0 rg BT 110.52 347.10 Td (ecognizable events) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 87.00 323.10 Td (Cash Distribution.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.14 323.10 Td ( In ) Tj ET Q q 0 0 0 rg BT 178.42 323.10 Td (April 2016, our general partner) Tj ET Q q 0 0 0 rg BT 303.47 323.10 Td () Tj ET Q q 0 0 0 rg BT 306.25 323.10 Td (s board of directors declared a quarterly distribution of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 311.10 Td ($0.8025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.50 311.10 Td ( per unit to be paid on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.76 311.10 Td (May 13, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.59 311.10 Td ( to unitholders of record at the close of business on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.93 311.10 Td (May2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.76 311.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.58 311.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 299.10 Td (total cash distributions expected to be paid under this declaration are approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.11 299.10 Td ($182.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.01 299.10 Td (.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 704.25 Td (ITEM 2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.00 704.25 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 303.02 704.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 326.64 704.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 354.05 704.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 392.31 704.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 450.92 704.25 Td ( CONDITION ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.00 692.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 209.59 692.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 237.84 692.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 274.60 692.25 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 668.25 Td (Intr) Tj ET Q q 0 0 0 rg BT 104.04 668.25 Td (oduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 644.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 644.25 Td (e are a publicly traded limited partnership principally engaged in the transportation, storage and distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 632.25 Td (of refined petroleum products and crude oil. ) Tj ET Q q 0 0 0 rg BT 241.28 632.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.72 632.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.32 632.25 Td (, our asset portfolio, including the assets of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.25 Td (joint ventures, consisted of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 602.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 602.25 Td (our refined products segment, comprised of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.72 602.25 Td (9,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.22 602.25 Td (-mile refined products pipeline system with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.85 602.25 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.85 602.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 590.25 Td (terminals as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.09 590.25 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.09 590.25 Td ( independent terminals not connected to our pipeline system and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.85 590.25 Td (1,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.35 590.25 Td (-mile ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 578.25 Td (ammonia pipeline system; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 554.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 554.25 Td (our crude oil segment, comprised of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.16 554.25 Td (1,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.66 554.25 Td ( miles of crude oil pipelines and storage facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 542.25 Td (with an aggregate storage capacity of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.86 542.25 Td (22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.25 542.25 Td ( barrels, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.72 542.25 Td (14 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.11 542.25 Td ( barrels are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 530.25 Td (used for leased storage; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 506.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 506.25 Td (our marine storage segment, consisting of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.68 506.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.23 506.25 Td ( marine terminals located along coastal waterways with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 494.25 Td (aggregate storage capacity of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.64 494.25 Td (26 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.03 494.25 Td ( barrels.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 470.25 Td (The following discussion provides an analysis of the results for each of our operating segments, an overview ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 458.25 Td (of our liquidity and capital resources and other items related to our partnership. ) Tj ET Q q 0 0 0 rg BT 382.17 458.25 Td (The following discussion and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 446.25 Td (analysis should be read in conjunction with \(i\)our accompanying interim consolidated financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 434.25 Td (related notes and \(ii\)our consolidated financial statements, related notes and management) Tj ET Q q 0 0 0 rg BT 425.65 434.25 Td (s discussion and analysis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 422.25 Td (of financial condition and results of operations included in our ) Tj ET Q q 0 0 0 rg BT 314.61 422.25 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 410.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.58 410.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 374.25 Td (Recent Developments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 350.25 Td (Cash Distribution.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.64 350.25 Td ( In ) Tj ET Q q 0 0 0 rg BT 174.42 350.25 Td (April 2016, the board of directors of our general partner declared a quarterly cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 338.25 Td (distribution of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.44 338.25 Td ($0.8025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.94 338.25 Td ( per unit for the period of January 1, 2016 through March 31, 2016. ) Tj ET Q q 0 0 0 rg BT 426.65 338.25 Td (This quarterly cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.25 Td (distribution will be paid on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.83 326.25 Td (May 13, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.66 326.25 Td ( to unitholders of record on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.30 326.25 Td (May2, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.13 326.25 Td (. ) Tj ET Q q 0 0 0 rg BT 396.95 326.25 Td (T) Tj ET Q q 0 0 0 rg BT 402.36 326.25 Td (otal distributions expected to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 314.25 Td (paid under this declaration are approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.82 314.25 Td ($182.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.71 314.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 278.25 Td (Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 254.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 254.25 Td (e believe that investors benefit from having access to the same financial measures utilized by management. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 242.25 Td (Operating mar) Tj ET Q q 0 0 0 rg BT 120.85 242.25 Td (gin, which is presented in the following table, is an important measure used by management to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 230.25 Td (evaluate the economic performance of our core operations. Operating mar) Tj ET Q q 0 0 0 rg BT 358.80 230.25 Td (gin is not a generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 218.25 Td (principles \(GAAP\) measure, but the components of operating mar) Tj ET Q q 0 0 0 rg BT 335.79 218.25 Td (gin are computed using amounts that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 206.25 Td (determined in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 214.62 206.25 Td (. ) Tj ET Q q 0 0 0 rg BT 221.56 206.25 Td (A) Tj ET Q q 0 0 0 rg BT 228.23 206.25 Td ( reconciliation of operating mar) Tj ET Q q 0 0 0 rg BT 354.67 206.25 Td (gin to operating profit, which is its nearest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 194.25 Td (comparable GAAP) Tj ET Q q 0 0 0 rg BT 139.00 194.25 Td ( financial measure, is included in the following table. Operating profit includes expense items, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 182.25 Td (such as depreciation and amortization expense and general and administrative \(G&A\) expense, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 170.25 Td (management does not focus on when evaluating the core profitability of our separate operating segments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 158.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 112.90 158.25 Td (, product mar) Tj ET Q q 0 0 0 rg BT 166.32 158.25 Td (gin, which management primarily uses to evaluate the profitability of our commodity-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 146.25 Td (related activities, is provided in this table. Product mar) Tj ET Q q 0 0 0 rg BT 281.65 146.25 Td (gin is a non-GAAP) Tj ET Q q 0 0 0 rg BT 358.22 146.25 Td ( measure; however) Tj ET Q q 0 0 0 rg BT 433.35 146.25 Td (, its components of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 134.25 Td (product sales revenue and cost of product sales are determined in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 419.82 134.25 Td (. Our butane blending, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 122.25 Td (fractionation and other commodity-related activities generate significant product revenue. ) Tj ET Q q 0 0 0 rg BT 426.84 122.25 Td (W) Tj ET Q q 0 0 0 rg BT 435.48 122.25 Td (e believe the product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 110.25 Td (mar) Tj ET Q q 0 0 0 rg BT 78.37 110.25 Td (gin from these activities, which takes into account the related cost of product sales, better represents its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 98.25 Td (importance to our results of operations.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 88.65 Td ( ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (25) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 693.50 Td (Three Months Ended March 31, 2015 compared to Three Months Ended March 31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 682.70 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 651.2 m 373.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 651.2 m 377.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 651.2 m 423.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 651.2 m 477.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 651.2 m 481.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 651.2 m 531.5 651.2 l s 0 0 0 RG /GS0 gs 1.00 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Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.40 365.51 Td (0.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 405.40 365.51 Td (\(2.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.65 365.51 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.75 365.51 Td (2.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 365.51 Td (n/a) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 354.51 Td (Income before provision for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 218.25 354.51 Td (...............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.40 354.51 Td (184.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.40 354.51 Td (208.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 354.51 Td (23.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.50 354.51 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 343.51 Td (Provision for income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 164.25 343.51 Td (.......................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.40 343.51 Td (1.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.40 343.51 Td (0.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.75 343.51 Td (0.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.50 343.51 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 332.51 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 108.00 332.51 Td (................................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 332.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.40 332.51 Td (183.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.00 332.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.40 332.51 Td (207.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 332.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.25 332.51 Td (23.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.50 332.51 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 66.00 312.65 Td (Operating Statistics:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 299.51 Td (Refined products:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 288.51 Td (Transportation revenue per barrel shipped) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.25 288.51 Td (.......................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 288.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.40 288.51 Td (1.369) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.00 288.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.40 288.51 Td (1.416) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 277.51 Td (Volume shipped \(million barrels\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 266.51 Td (Gasoline) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 135.00 266.51 Td (....................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 266.51 Td (62.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 266.51 Td (61.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 255.51 Td (Distillates) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 139.50 255.51 Td (..................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 255.51 Td (36.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 255.51 Td (36.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 244.51 Td (Aviation fuel) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.75 244.51 Td (.............................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.40 244.51 Td (5.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.40 244.51 Td (5.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 233.51 Td (Liquefied petroleum gases) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 198.00 233.51 Td (........................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.40 233.51 Td (1.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 408.40 233.51 Td (1.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 132.00 222.51 Td (Total volume shipped) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.50 222.51 Td (..................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.40 222.51 Td (105.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.40 222.51 Td (104.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 211.51 Td (Crude oil:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 200.51 Td (Magellan 100%-owned assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 189.51 Td (Transportation revenue per barrel shipped) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.25 189.51 Td (...............................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.00 189.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.40 189.51 Td (1.112) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.00 189.51 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.40 189.51 Td (1.447) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 178.51 Td (Volume shipped \(million barrels\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 222.75 178.51 Td (.............................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 178.51 Td (50.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 178.51 Td (43.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 167.46 Td (Crude oil terminal average utilization \(million barrels per) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 158.46 Td (month\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 128.25 158.46 Td (.......................................................................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 159.66 Td (12.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 159.66 Td (14.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 146.46 Td (Select joint venture pipelines:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 102.00 133.46 Td (BridgeT) Tj ET Q q 0 0 0 rg BT 131.36 133.46 Td (ex - volume shipped \(million barrels\)) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 265.58 137.54 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 274.50 133.46 Td (......................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 133.46 Td (15.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 133.46 Td (18.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.00 109.51 Td (Marine storage:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 98.51 Td (Marine terminal average utilization \(million barrels per month\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 312.75 98.51 Td (.....) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.90 98.51 Td (23.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 403.90 98.51 Td (23.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 77.50 Td (\(1\) Product mar) Tj ET Q q 0 0 0 rg BT 115.51 77.50 Td (gin does not include depreciation or amortization expense.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 67.90 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 76.18 67.90 Td (These volumes reflect the total shipments for the BridgeT) Tj ET Q q 0 0 0 rg BT 260.46 67.90 Td (ex pipeline, which is owned 50% by us.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 693.50 Td (T) Tj ET Q q 0 0 0 rg BT 95.76 693.50 Td (ransportation and terminals revenue increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.07 693.50 Td ($16.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.57 693.50 Td ( million resulting from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 675.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 675.50 Td (an increase in refined products revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.20 675.50 Td ($4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.70 675.50 Td ( million primarily attributable to higher tarif) Tj ET Q q 0 0 0 rg BT 481.14 675.50 Td (f rates. ) Tj ET Q q 0 0 0 rg BT 513.17 675.50 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 663.50 Td (average rate per barrel in the current period was favorably impacted by the mid-year 2015 tarif) Tj ET Q q 0 0 0 rg BT 495.81 663.50 Td (f rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 651.50 Td (increase of 4.6%;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 633.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 633.50 Td (an increase in crude oil revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.21 633.50 Td ($10.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.71 633.50 Td ( million primarily due to higher average rates and more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 621.50 Td (shipments on our Longhorn pipeline system and new leased storage contracts. Overall crude oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 609.50 Td (shipments declined and average rate per barrel increased due to fewer barrels moving on our lower) Tj ET Q q 0 0 0 rg BT 511.91 609.50 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 597.50 Td (priced Houston distribution system tarif) Tj ET Q q 0 0 0 rg BT 276.24 597.50 Td (f structure to their ultimate destination. Instead, customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 585.50 Td (utilized space available on our capacity lease for shipments from BridgeT) Tj ET Q q 0 0 0 rg BT 411.19 585.50 Td (ex pipeline or the longer) Tj ET Q q 0 0 0 rg BT 508.74 585.50 Td (-haul ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 573.50 Td (committed tarif) Tj ET Q q 0 0 0 rg BT 178.74 573.50 Td (fs for Longhorn pipeline movements; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 555.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 555.50 Td (an increase in marine storage revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.09 555.50 Td ($1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.59 555.50 Td ( million primarily due to higher average storage rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 543.50 Td (from recently negotiated contract terms and annual rate escalations on existing agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 522.50 Td (Operating expenses increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.84 522.50 Td ($16.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.34 522.50 Td ( million primarily resulting from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 504.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 504.50 Td (an increase in refined products expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.65 504.50 Td ($1) Tj ET Q q 0 0 0 rg BT 301.28 504.50 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.78 504.50 Td ( million primarily due to less favorable product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 492.50 Td (overages \(which reduce operating expenses\), higher environmental accruals and more product handling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 480.50 Td (costs related to the receipt of of) Tj ET Q q 0 0 0 rg BT 242.88 480.50 Td (f-spec product in the current period;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 462.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 462.50 Td (an increase in crude oil expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.66 462.50 Td ($3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.16 462.50 Td ( million primarily due to higher product handling costs related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 450.50 Td (to the receipt of of) Tj ET Q q 0 0 0 rg BT 190.68 450.50 Td (f-spec product and increased personnel costs, partially of) Tj ET Q q 0 0 0 rg BT 418.19 450.50 Td (fset by more favorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 438.50 Td (product overages; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 420.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 420.50 Td (an increase in marine storage expenses of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.54 420.50 Td ($1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.04 420.50 Td ( million primarily due to higher asset integrity spending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 408.50 Td (related to the timing of tank maintenance work.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 387.50 Td (Product sales revenue resulted from our butane blending activities, transmix fractionation and product gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 375.50 Td (from our operations. ) Tj ET Q q 0 0 0 rg BT 147.24 375.50 Td (W) Tj ET Q q 0 0 0 rg BT 155.88 375.50 Td (e utilize New ) Tj ET Q q 0 0 0 rg BT 211.32 375.50 Td (Y) Tj ET Q q 0 0 0 rg BT 217.54 375.50 Td (ork Mercantile Exchange \(NYMEX\) contracts to hedge against changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 363.50 Td (the price of petroleum products we expect to sell in the future, and we use butane futures agreements to hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 351.50 Td (against changes in the price of butane we expect to purchase in future periods. See Note 8 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.04 351.50 Td (Derivative Financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 339.50 Td (Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.22 339.50 Td ( in Item 1 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 158.83 339.50 Td (Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.37 339.50 Td ( for a discussion of our hedging strategies and how our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 327.50 Td (use of NYMEX contracts and butane futures agreements impacts our product mar) Tj ET Q q 0 0 0 rg BT 389.66 327.50 Td (gin. Product mar) Tj ET Q q 0 0 0 rg BT 461.41 327.50 Td (gin decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 315.50 Td ($4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.50 315.50 Td ( million compared to first quarter 2015 due to lower sales prices as a result of reduced commodity prices, mostly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 303.50 Td (of) Tj ET Q q 0 0 0 rg BT 71.15 303.50 Td (fset by the gains recognized from changes in related NYMEX contracts. See ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.60 303.50 Td (Other ItemsCommodity Derivative ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 291.50 Td (Agr) Tj ET Q q 0 0 0 rg BT 77.63 291.50 Td (eementsImpact of Commodity Derivatives on Results of Operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.14 291.50 Td (below for more information about our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 279.50 Td (NYMEX contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 258.50 Td (Earnings of non-controlled entities increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.88 258.50 Td ($8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.38 258.50 Td ( million primarily attributable to our share of earnings from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 246.50 Td (BridgeT) Tj ET Q q 0 0 0 rg BT 95.63 246.50 Td (ex Pipeline Company) Tj ET Q q 0 0 0 rg BT 181.08 246.50 Td (, LLC and Double Eagle Pipeline LLC, which both benefited from increased shipments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 234.50 Td (during the current period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 213.50 Td (Depreciation and amortization increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.37 213.50 Td ($2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.87 213.50 Td ( million primarily due to expansion capital projects placed into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 201.50 Td (service.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 180.50 Td (G&A) Tj ET Q q 0 0 0 rg BT 108.67 180.50 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.22 180.50 Td ($5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.72 180.50 Td ( million higher primarily due to additional headcount, increased payout expectations for our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 168.50 Td (equity-based incentive compensation program and higher deferred board of director fees due to a decreasing price in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 156.50 Td (our limited partner units during the first quarter of 2015, which reduced the corresponding 2015 expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 135.50 Td (Interest expense, net of interest income and interest capitalized, increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.54 135.50 Td ($2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.04 135.50 Td ( million in first quarter 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 123.50 Td (primarily because our debt balance was higher in the current period compared to the same period in 2015, partially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 111.50 Td (of) Tj ET Q q 0 0 0 rg BT 71.15 111.50 Td (fset by higher capitalized interest. Our average outstanding debt increased from $3.1 billion in first quarter 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 99.50 Td (to $3.7 billion in first quarter 2016 primarily due to borrowings for expansion capital expenditures, including $650.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 87.50 Td (million of senior notes issued in February 2016. Our weighted-average interest rate of 4.6% in first quarter 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 75.50 Td (was slightly lower than the 4.7% rate incurred in first quarter 2015. ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 704.10 Td (In first quarter 2016, we recognized a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.71 704.10 Td ($26.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.21 704.10 Td ( million non-cash gain related to the transfer of our 50% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td (membership interest in Osage Pipe Line Company) Tj ET Q q 0 0 0 rg BT 263.98 692.10 Td (, LLC. See Note 4 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.24 692.10 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 452.19 692.10 Td (olled Entities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.24 692.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 680.10 Td (consolidated financial statements included in Item 1 of this report for more details regarding this transaction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 659.10 Td (Other expense \(income\) was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.62 659.10 Td ($2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.12 659.10 Td ( million favorable due to a favorable non-cash adjustment for the change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (the dif) Tj ET Q q 0 0 0 rg BT 88.64 647.10 Td (ferential between the current spot price and forward price on fair value hedges associated with our crude oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 635.10 Td (tank bottoms and linefill assets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 599.10 Td (Distributable Cash Flow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 575.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 575.10 Td (e calculate the non-GAAP) Tj ET Q q 0 0 0 rg BT 200.51 575.10 Td ( measures of distributable cash flow \(DCF\) and adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 473.49 575.10 Td ( in the table ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 563.10 Td (below) Tj ET Q q 0 0 0 rg BT 86.79 563.10 Td (. Management uses DCF as a basis for recommending to our general partner) Tj ET Q q 0 0 0 rg BT 394.29 563.10 Td () Tj ET Q q 0 0 0 rg BT 397.07 563.10 Td (s board of directors the amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (of cash distributions to be paid to our limited partners each period. Management also uses DCF as a basis for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (determining the payouts for the performance-based awards issued under our equity-based compensation plan. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (Adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 137.72 527.10 Td ( is an important measure that we and the investment community use to assess the financial results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (of an entity) Tj ET Q q 0 0 0 rg BT 107.89 515.10 Td (. ) Tj ET Q q 0 0 0 rg BT 115.21 515.10 Td (W) Tj ET Q q 0 0 0 rg BT 123.85 515.10 Td (e believe that investors benefit from having access to the same financial measures utilized by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 503.10 Td (management for these evaluations. ) Tj ET Q q 0 0 0 rg BT 206.29 503.10 Td (A) Tj ET Q q 0 0 0 rg BT 212.96 503.10 Td ( reconciliation of DCF and adjusted EBITDA) Tj ET Q q 0 0 0 rg BT 394.59 503.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.96 503.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.95 503.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 491.10 Td (March31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.60 491.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.04 491.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.04 491.10 Td ( to net income, which is its nearest comparable GAAP) Tj ET Q q 0 0 0 rg BT 382.83 491.10 Td ( financial measure, follows \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 479.10 Td (millions\): ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 439.6 m 422.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 439.6 m 426.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 439.6 m 474.5 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 424.6 m 422.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 424.6 m 474.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 424.6 m 530.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 424.6 m 422.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 424.6 m 474.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 254.60000000000002 m 422.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 254.60000000000002 m 474.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 254.60000000000002 m 530.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 214.60000000000002 m 422.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 214.60000000000002 m 474.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 214.60000000000002 m 530.5 214.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 169.60000000000002 m 422.5 169.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 169.60000000000002 m 422.5 169.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 155.60000000000002 m 422.5 155.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 153.60000000000002 m 422.5 153.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 169.60000000000002 m 474.5 169.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 155.60000000000002 m 474.5 155.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 153.60000000000002 m 474.5 153.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 169.60000000000002 m 530.5 169.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 155.60000000000002 m 530.5 155.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 153.60000000000002 m 530.5 153.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.50 454.28 Td (Three Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 444.28 Td (March 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.00 439.28 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.60 429.28 Td (\(Decrease\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.00 429.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.00 429.28 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 414.27 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.00 414.17 Td (............................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 414.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 414.27 Td (183.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 414.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 414.27 Td (207.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 414.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 414.27 Td (23.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 399.27 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 176.91 403.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.50 399.17 Td (.........................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 399.27 Td (34.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 399.27 Td (37.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 399.27 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 384.27 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 384.17 Td (............................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 384.27 Td (41.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 384.27 Td (43.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 384.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 369.27 Td (Equity-based incentive compensation) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 244.96 373.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.50 369.17 Td (.............................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 369.32 Td (\(13.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 369.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 369.32 Td (\(7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 369.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 369.27 Td (5.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 354.27 Td (Loss on sale and retirement of assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.00 354.17 Td (..................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 354.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 354.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 354.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 339.27 Td (Gain on exchange of interest in non-controlled entity) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 306.88 343.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 339.32 Td (\(26.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 339.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 339.32 Td (\(26.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 339.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 324.27 Td (Commodity-related adjustments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 309.27 Td (Derivative \(gains\) losses recognized in the period associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.00 299.27 Td (future product transactions) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 217.19 303.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.00 299.17 Td (........................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 299.27 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 299.32 Td (\(8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 299.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 299.32 Td (\(12.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 299.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 284.27 Td (Derivative gains recognized in previous periods associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.00 274.27 Td (product sales completed in the period) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 259.68 278.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.50 274.17 Td (.......................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 274.27 Td (56.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 274.27 Td (21.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 274.32 Td (\(34.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 274.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 259.27 Td (Lower) Tj ET Q q 0 0 0 rg BT 126.90 259.27 Td (-of-cost-or) Tj ET Q q 0 0 0 rg BT 169.46 259.27 Td (-market adjustments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 250.82 263.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.50 259.17 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 259.32 Td (\(29.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 259.32 Td (\(1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 259.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.15 259.27 Td (27.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.00 244.27 Td (Total commodity-related adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.50 244.17 Td (.......................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 244.27 Td (31.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 244.27 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 244.32 Td (\(19.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 244.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.50 229.27 Td (Cash distributions received from non-controlled entities in excess of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.50 219.27 Td (earnings for the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.50 219.17 Td (.....................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 219.27 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 219.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 219.32 Td (\(2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 219.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 204.27 Td (Adjusted EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.50 204.17 Td (.................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 204.27 Td (283.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 204.27 Td (270.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 204.32 Td (\(13.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 204.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 189.27 Td (Interest expense, net, excluding debt issuance cost amortization) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 349.08 193.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 189.17 Td (....) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 189.32 Td (\(34.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 189.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 189.32 Td (\(36.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 189.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 189.32 Td (\(2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 189.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 174.27 Td (Maintenance capital) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 175.79 178.80 Td (\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.50 174.17 Td (.........................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.80 174.32 Td (\(16.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 174.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.80 174.32 Td (\(28.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 174.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 174.32 Td (\(11.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 174.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 159.27 Td (DCF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.50 159.17 Td (.......................................................................................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 159.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 159.27 Td (233.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.00 159.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 159.27 Td (205.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 159.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.80 159.32 Td (\(27.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 159.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 136.50 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 99.00 136.50 Td (In 2015, we adopted ) Tj ET Q q 0 0 0 rg BT 165.88 136.50 Td (Accounting Standards Update \(ASU\) No. 2015-03, Interest: ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 366.94 136.50 Td (Simplifying the Pr) Tj ET Q q 0 0 0 rg BT 424.86 136.50 Td (esentation of Debt Issuance ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 99.00 126.90 Td (Costs.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 118.79 126.90 Td ( Under this new accounting standard, we have reclassified debt issuance cost amortization expense as interest expense. ) Tj ET Q q 0 0 0 rg BT 504.51 126.90 Td (W) Tj ET Q q 0 0 0 rg BT 511.42 126.90 Td (e ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 117.30 Td (have added back debt issuance cost amortization expense included in interest expense of $0.6 million and $0.7 million for purposes of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 107.70 Td (calculating DCF for the three months ended March 31, 2015 and 2016, respectively) Tj ET Q q 0 0 0 rg BT 365.96 107.70 Td (. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 93.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 99.00 93.10 Td (Because we intend to satisfy vesting of units under our equity-based incentive compensation program with the issuance of limited ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 83.50 Td (partner units, expenses related to this program generally are deemed non-cash and added back for DCF purposes. ) Tj ET Q q 0 0 0 rg BT 464.96 83.50 Td (T) Tj ET Q q 0 0 0 rg BT 469.29 83.50 Td (otal equity-based ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 73.90 Td (incentive compensation expense for the three months ended March 31, 2015 and 2016 was $4.8 million and $6.7 million, respectively) Tj ET Q q 0 0 0 rg BT 527.05 73.90 Td (. ) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (28) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 705.50 Td (However) Tj ET Q q 0 0 0 rg BT 128.00 705.50 Td (, the figures above include an adjustment for minimum statutory tax withholdings we paid in 2015 and 2016 of $17.8 million ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 695.90 Td (and $14.4 million, respectively) Tj ET Q q 0 0 0 rg BT 197.79 695.90 Td (, for equity-based incentive compensation units that vested on the previous year end, which reduce ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 686.30 Td (DCF) Tj ET Q q 0 0 0 rg BT 113.92 686.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 671.70 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 99.00 671.70 Td (In February 2016, we transferred our 50% membership interest in Osage Pipe Line Company) Tj ET Q q 0 0 0 rg BT 396.63 671.70 Td (, LLC to an af) Tj ET Q q 0 0 0 rg BT 441.58 671.70 Td (filiate of HollyFrontier ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 662.10 Td (Corporation. In conjunction with this transaction, we entered into several commercial agreements with af) Tj ET Q q 0 0 0 rg BT 437.41 662.10 Td (filiates of HollyFrontier ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 652.50 Td (Corporation, which we recorded as intangible assets and other receivables in our consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 452.96 652.50 Td (W) Tj ET Q q 0 0 0 rg BT 459.87 652.50 Td (e recorded a $26.9 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 642.90 Td (million non-cash gain in relation to this transaction.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 628.30 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 99.00 628.30 Td (Certain derivatives we use as economic hedges have not been designated as hedges for accounting purposes and the mark-to-market ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 618.70 Td (changes of these derivatives are recognized currently in earnings. In addition, we have designated certain derivatives we use to hedge ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 609.10 Td (our crude oil tank bottoms and linefill assets as fair value hedges, and the change in the dif) Tj ET Q q 0 0 0 rg BT 388.99 609.10 Td (ferential between the current spot price and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 599.50 Td (forward price on these hedges is recognized currently in earnings. ) Tj ET Q q 0 0 0 rg BT 313.44 599.50 Td (W) Tj ET Q q 0 0 0 rg BT 320.35 599.50 Td (e exclude the net impact of both of these adjustments from our ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 589.90 Td (determination of DCF until the hedged products are physically sold. In the period in which these products are physically sold, the net ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 580.30 Td (impact of the associated hedges is included in our determination of DCF) Tj ET Q q 0 0 0 rg BT 330.08 580.30 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 565.70 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 99.00 565.70 Td (W) Tj ET Q q 0 0 0 rg BT 105.91 565.70 Td (e add the amount of lower) Tj ET Q q 0 0 0 rg BT 189.50 565.70 Td (-of-cost-or) Tj ET Q q 0 0 0 rg BT 223.55 565.70 Td (-market \(LCM\) adjustments on inventory and firm purchase commitments we recognize in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 556.10 Td (each applicable period to determine DCF as these are non-cash char) Tj ET Q q 0 0 0 rg BT 316.10 556.10 Td (ges against income. In subsequent periods when we physically ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 546.50 Td (sell or purchase the related products, we deduct the LCM adjustments previously recognized to determine DCF) Tj ET Q q 0 0 0 rg BT 454.26 546.50 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 85.50 531.90 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 99.00 531.90 Td (Maintenance capital expenditure projects maintain our existing assets and do not generate incremental DCF \(i.e. incremental returns to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 522.30 Td (our unitholders\). For this reason, we deduct maintenance capital expenditures to determine DCF) Tj ET Q q 0 0 0 rg BT 408.27 522.30 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 486.30 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 212.68 486.30 Td (ces) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 462.30 Td (Cash Flows and Capital Expenditur) Tj ET Q q 0 0 0 rg BT 231.08 462.30 Td (es) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 87.00 438.30 Td (Operating ) Tj ET Q q 0 0 0 rg BT 130.80 438.30 Td (Activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.07 438.30 Td ( Operating cash flows consist of net income adjusted for certain non-cash items and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 426.30 Td (changes in certain assets and liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 409.30 Td (Net cash provided by operating activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.67 409.30 Td ($191.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.56 409.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 409.30 Td ($209.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.89 409.30 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.27 409.30 Td (three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 397.30 Td (March 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.10 397.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.60 397.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.60 397.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.04 397.30 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.04 397.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 218.70 397.30 Td (. ) Tj ET Q q 0 0 0 rg BT 223.52 397.30 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.56 397.30 Td ($18.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.46 397.30 Td ( increase from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.15 397.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.15 397.30 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.93 397.30 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.93 397.30 Td ( was due to higher net income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 385.30 Td (related to activities previously described and changes in our working capital, partially of) Tj ET Q q 0 0 0 rg BT 416.32 385.30 Td (fset by adjustments to non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 373.30 Td (cash items.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 87.00 352.30 Td (Investing ) Tj ET Q q 0 0 0 rg BT 127.47 352.30 Td (Activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.74 352.30 Td ( Investing cash flows consist primarily of capital expenditures, investments in non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 340.30 Td (controlled entities and acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 319.30 Td (Net cash used by investing activities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.18 319.30 Td (three months ended March 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.09 319.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.59 319.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.59 319.30 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.03 319.30 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.03 319.30 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.58 319.30 Td ($134.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.47 319.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 307.30 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 307.30 Td ($199.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.83 307.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 191.49 307.30 Td (. During 2016, we spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.09 307.30 Td ($139.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.98 307.30 Td ( for capital expenditures, which included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 295.30 Td ($28.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 295.30 Td ( for maintenance capital and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.67 295.30 Td ($1) Tj ET Q q 0 0 0 rg BT 242.30 295.30 Td (1) Tj ET Q q 0 0 0 rg BT 246.93 295.30 Td (1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.82 295.30 Td ( for expansion capital. ) Tj ET Q q 0 0 0 rg BT 381.62 295.30 Td (Also during the 2016 period, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 283.30 Td (contributed capital of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.02 283.30 Td ($61.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.91 283.30 Td ( in conjunction with our joint venture capital projects, which we account for as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 271.30 Td (investments in non-controlled entities. During 2015, we spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.40 271.30 Td ($127.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.30 271.30 Td ( for capital expenditures, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 259.30 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.93 259.30 Td ($16.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.83 259.30 Td ( for maintenance capital and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 259.30 Td ($1) Tj ET Q q 0 0 0 rg BT 279.23 259.30 Td (1) Tj ET Q q 0 0 0 rg BT 283.86 259.30 Td (1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.75 259.30 Td ( for expansion capital. ) Tj ET Q q 0 0 0 rg BT 418.56 259.30 Td (Also during the 2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 247.30 Td (period, we contributed capital of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.73 247.30 Td ($13.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.62 247.30 Td ( in conjunction with our joint venture capital projects, which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 235.30 Td (account for as investments in non-controlled entities. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 87.00 214.30 Td (Financing ) Tj ET Q q 0 0 0 rg BT 132.48 214.30 Td (Activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.75 214.30 Td ( Financing cash flows consist primarily of distributions to our unitholders and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 202.30 Td (borrowings and repayments under long-term notes and our commercial paper program.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 181.30 Td (Net cash used by financing activities for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.28 181.30 Td (three months ended March 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.19 181.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.69 181.30 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.69 181.30 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.24 181.30 Td ($20.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.13 181.30 Td ( and net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 169.30 Td (cash provided by financing activities for the three months ended March 31, 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.52 169.30 Td ($170.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.41 169.30 Td (. During 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 157.30 Td (we paid cash distributions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.48 157.30 Td ($178.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.37 157.30 Td ( to our unitholders. ) Tj ET Q q 0 0 0 rg BT 317.42 157.30 Td (Additionally) Tj ET Q q 0 0 0 rg BT 367.33 157.30 Td (, we received net proceeds of $649.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 145.30 Td (million from borrowings under long-term notes, which were used in part to repay borrowings outstanding under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 133.30 Td (commercial paper program and for general partnership purposes, including expansion capital. ) Tj ET Q q 0 0 0 rg BT 439.26 133.30 Td (Also, in February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 121.30 Td (2016, the cumulative amounts of the January 2013 equity-based incentive compensation award grants were settled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 109.30 Td (by issuing 350,552 limited partner units and distributing those units to the long-term incentive plan \(L) Tj ET Q q 0 0 0 rg BT 474.80 109.30 Td (TIP\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 97.30 Td (participants, resulting in payments of associated tax withholdings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.95 97.30 Td ($14.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.84 97.30 Td (. During 2015, we paid cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 85.30 Td (distributions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.33 85.30 Td ($158.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.23 85.30 Td ( to our unitholders. ) Tj ET Q q 0 0 0 rg BT 263.28 85.30 Td (Additionally) Tj ET Q q 0 0 0 rg BT 313.18 85.30 Td (, we received net proceeds of $499.6 million from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 73.30 Td (borrowings under long-term notes, which were or will be used in part to repay borrowings outstanding under our ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td (commercial paper program and for general partnership purposes, including expansion capital. In connection with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td (borrowings under long-term notes, we paid $42.9 million in settlement of associated interest rate swap agreements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 680.10 Td (Also, in January 2015, the cumulative amounts of the January 2012 equity-based incentive compensation award ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 668.10 Td (grants were settled by issuing 354,529 limited partner units and distributing those units to the L) Tj ET Q q 0 0 0 rg BT 443.70 668.10 Td (TIP) Tj ET Q q 0 0 0 rg BT 458.33 668.10 Td ( participants, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 656.10 Td (resulting in payments of associated tax withholdings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.30 656.10 Td ($17.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.19 656.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 635.10 Td (The quarterly distribution amount related to our first-quarter 2016 financial results \(to be paid in second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 623.10 Td (quarter 2016\) is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.82 623.10 Td ($0.8025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.32 623.10 Td ( per unit. If we are able to meet management) Tj ET Q q 0 0 0 rg BT 345.40 623.10 Td (s tar) Tj ET Q q 0 0 0 rg BT 362.16 623.10 Td (geted distribution growth of 10% during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 611.10 Td (2016 and the number of outstanding limited partner units remains at 227.8million, total cash distributions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (approximately $755.0 million will be paid to our unitholders related to 2016 earnings. Management believes we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (will have suf) Tj ET Q q 0 0 0 rg BT 114.47 587.10 Td (ficient DCF to fund these distributions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 563.10 Td (Capital Requir) Tj ET Q q 0 0 0 rg BT 146.35 563.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 539.10 Td (Our businesses require continual investments to maintain, upgrade or enhance existing operations and to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (ensure compliance with safety and environmental regulations. Capital spending consists primarily of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 509.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 509.10 Td (Maintenance capital expenditures. ) Tj ET Q q 0 0 0 rg BT 258.70 509.10 Td (These expenditures include costs required to maintain equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 497.10 Td (reliability and safety and to address environmental or other regulatory requirements rather than to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 485.10 Td (generate incremental DCF; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 467.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 467.10 Td (Expansion capital expenditures. ) Tj ET Q q 0 0 0 rg BT 249.28 467.10 Td (These expenditures are undertaken primarily to generate incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 455.10 Td (DCF and include costs to acquire additional assets to grow our business and to expand or upgrade our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 443.10 Td (existing facilities, which we refer to as or) Tj ET Q q 0 0 0 rg BT 282.32 443.10 Td (ganic growth projects. Or) Tj ET Q q 0 0 0 rg BT 386.83 443.10 Td (ganic growth projects include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 431.10 Td (capital expenditures that increase storage or throughput volumes or develop pipeline connections to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 419.10 Td (new supply sources.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 395.10 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.61 395.10 Td (three months ended March 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.52 395.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.02 395.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.02 395.10 Td (, our maintenance capital spending was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.69 395.10 Td ($28.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.58 395.10 Td (. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.97 395.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.97 395.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 383.10 Td (we expect to spend approximately $90.0 million on maintenance capital.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 359.10 Td (During the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.66 359.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.64 359.10 Td ( months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.92 359.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.92 359.10 Td (, we spent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.69 359.10 Td ($1) Tj ET Q q 0 0 0 rg BT 287.32 359.10 Td (1) Tj ET Q q 0 0 0 rg BT 291.95 359.10 Td (1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.84 359.10 Td ( for or) Tj ET Q q 0 0 0 rg BT 360.65 359.10 Td (ganic growth capital and contributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.10 Td ($61.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 347.10 Td ( for capital projects in conjunction with our joint ventures. Based on the progress of expansion projects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 335.10 Td (already underway) Tj ET Q q 0 0 0 rg BT 133.70 335.10 Td (, we expect to spend approximately $800.0 million for expansion capital during 2016, with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 323.10 Td (additional $150.0 million thereafter to complete our current projects. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 299.10 Td (Liquidity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 275.10 Td (Cash generated from operations is our primary source of liquidity for funding debt service, maintenance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 263.10 Td (capital expenditures and quarterly distributions to our unitholders. ) Tj ET Q q 0 0 0 rg BT 329.33 263.10 Td (Additional liquidity for purposes other than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 251.10 Td (quarterly distributions, such as expansion capital expenditures and debt repayments, is available through borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.10 Td (under our commercial paper program and revolving credit facilities, as well as from other borrowings or issuances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 227.10 Td (of debt or limited partner units \(see Note 7 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.51 227.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.95 227.10 Td ( of the consolidated financial statements included in Item 1 of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 215.10 Td (report for detail of our borrowings and debt outstanding at December 31, 2015 and March 31, 2016\). If capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 203.10 Td (markets do not permit us to issue additional debt and equity securities, our business may be adversely af) Tj ET Q q 0 0 0 rg BT 479.39 203.10 Td (fected, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 191.10 Td (we may not be able to acquire additional assets and businesses, fund or) Tj ET Q q 0 0 0 rg BT 346.91 191.10 Td (ganic growth projects or continue paying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 179.10 Td (cash distributions at the current level. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 143.10 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 166.43 143.10 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 119.10 Td (None.) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 704.25 Td (Envir) Tj ET Q q 0 0 0 rg BT 111.27 704.25 Td (onmental) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 680.25 Td (Our operations are subject to federal, state and local environmental laws and regulations. ) Tj ET Q q 0 0 0 rg BT 444.75 680.25 Td (W) Tj ET Q q 0 0 0 rg BT 453.39 680.25 Td (e have accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 668.25 Td (liabilities for estimated costs at our facilities and properties. ) Tj ET Q q 0 0 0 rg BT 304.42 668.25 Td (W) Tj ET Q q 0 0 0 rg BT 313.05 668.25 Td (e record liabilities when environmental costs are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 656.25 Td (probable and can be reasonably estimated. ) Tj ET Q q 0 0 0 rg BT 234.69 656.25 Td (The determination of amounts recorded for environmental liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 644.25 Td (involves significant judgments and assumptions by management.Due to the inherent uncertainties involved in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 632.25 Td (determining environmental liabilities, it is reasonably possible that the actual amounts required to extinguish these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.25 Td (liabilities could be materially dif) Tj ET Q q 0 0 0 rg BT 193.34 620.25 Td (ferent from those we have recognized.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 584.25 Td (Other) Tj ET Q q 0 0 0 rg BT 110.87 584.25 Td ( Items) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 560.25 Td (Commodity Derivative ) Tj ET Q q 0 0 0 rg BT 179.55 560.25 Td (Agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.44 560.25 Td (. Certain of the business activities in which we engage result in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 548.25 Td (owning various commodities, which exposes us to commodity price risk. ) Tj ET Q q 0 0 0 rg BT 357.22 548.25 Td (W) Tj ET Q q 0 0 0 rg BT 365.86 548.25 Td (e use forward physical commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 536.25 Td (contracts and NYMEX contracts to help manage this commodity price risk. ) Tj ET Q q 0 0 0 rg BT 367.18 536.25 Td (W) Tj ET Q q 0 0 0 rg BT 375.82 536.25 Td (e use forward physical contracts to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 524.25 Td (purchase butane and sell refined products. ) Tj ET Q q 0 0 0 rg BT 233.59 524.25 Td (W) Tj ET Q q 0 0 0 rg BT 242.23 524.25 Td (e account for these forward physical contracts as normal purchase and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 512.25 Td (sale contracts, using traditional accrual accounting. ) Tj ET Q q 0 0 0 rg BT 272.46 512.25 Td (W) Tj ET Q q 0 0 0 rg BT 281.10 512.25 Td (e use NYMEX contracts to hedge against changes in prices of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 500.25 Td (refined products and crude oil that we expect to sell and of butane that we expect to purchase in future periods. ) Tj ET Q q 0 0 0 rg BT 508.77 500.25 Td (W) Tj ET Q q 0 0 0 rg BT 517.41 500.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 488.25 Td (use and account for those NYMEX contracts that qualify for hedge accounting treatment as either cash flow or fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 476.25 Td (value hedges, and we use and account for those NYMEX contracts that do not qualify for hedge accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 464.25 Td (treatment as economic hedges. ) Tj ET Q q 0 0 0 rg BT 190.18 464.25 Td (As of and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.44 464.25 Td (three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.85 464.25 Td (, our open derivative contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 452.25 Td (and the impact of the derivatives we settled during the period were as follows:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 428.25 Td (Derivative Contracts Designated as Hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 404.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 404.25 Td (NYMEX contracts covering 0.7 million barrels of crude oil to hedge against future price changes of crude ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 392.25 Td (oil tank bottoms and linefill.) Tj ET Q q 0 0 0 rg BT 214.92 392.25 Td (These contracts, which we are accounting for as fair value hedges, mature ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 380.25 Td (between ) Tj ET Q q 0 0 0 rg BT 134.26 380.25 Td (April 2016 and November 2017. ) Tj ET Q q 0 0 0 rg BT 266.84 380.25 Td (Through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.78 380.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.37 380.25 Td (, the cumulative amount of gains from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 368.25 Td (these agreements was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.13 368.25 Td ($27.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.02 368.25 Td (. ) Tj ET Q q 0 0 0 rg BT 246.84 368.25 Td (The cumulative gains from these fair value hedges were recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 356.25 Td (adjustments to the asset being hedged, and there has been no inef) Tj ET Q q 0 0 0 rg BT 359.30 356.25 Td (fectiveness recognized for these hedges. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 344.25 Td (W) Tj ET Q q 0 0 0 rg BT 107.64 344.25 Td (e exclude the dif) Tj ET Q q 0 0 0 rg BT 173.81 344.25 Td (ferential between the current spot price and forward price from our assessment of hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 332.25 Td (ef) Tj ET Q q 0 0 0 rg BT 106.59 332.25 Td (fectiveness for these fair value hedges. ) Tj ET Q q 0 0 0 rg BT 266.34 332.25 Td (The net change in the amounts excluded from our assessment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 320.25 Td (hedge ef) Tj ET Q q 0 0 0 rg BT 132.96 320.25 Td (fectiveness during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.21 320.25 Td (three months ended March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.62 320.25 Td ( was a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.66 320.25 Td ($2.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.55 320.25 Td (, which we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 308.25 Td (recognized as other income on our consolidated statements of income.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 284.25 Td (Derivative Contracts Not Designated as Hedges Open) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 262.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 262.25 Td (NYMEX contracts covering 2.1 million barrels of refined products and crude oil related to our butane ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 250.25 Td (blending, fractionation and certain crude oil inventory) Tj ET Q q 0 0 0 rg BT 314.66 250.25 Td (. ) Tj ET Q q 0 0 0 rg BT 321.98 250.25 Td (These contracts mature between ) Tj ET Q q 0 0 0 rg BT 452.48 250.25 Td (April and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 238.25 Td (December 2016 and are being accounted for as economic hedges. ) Tj ET Q q 0 0 0 rg BT 363.43 238.25 Td (Through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.37 238.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.97 238.25 Td (, the cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 226.25 Td (amount of net unrealized gains associated with these agreements was $18.0 million. ) Tj ET Q q 0 0 0 rg BT 436.50 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 445.14 226.25 Td (e recorded these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 214.25 Td (gains as an adjustment to product sales revenue, of which $15.9 million was recognized in 2015 and $2.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 202.25 Td (million was recognized in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 178.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 178.25 Td (NYMEX contracts covering 1.5 million barrels of refined products and crude oil related to inventory we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 166.25 Td (carry that resulted from pipeline product overages. ) Tj ET Q q 0 0 0 rg BT 306.24 166.25 Td (These contracts, which mature between ) Tj ET Q q 0 0 0 rg BT 466.18 166.25 Td (April and June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 154.25 Td (2016, are being accounted for as economic hedges. ) Tj ET Q q 0 0 0 rg BT 305.41 154.25 Td (Through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.34 154.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.94 154.25 Td (, the cumulative amount of net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 142.25 Td (unrealized gains associated with these agreements was $1.1 million. ) Tj ET Q q 0 0 0 rg BT 373.46 142.25 Td (W) Tj ET Q q 0 0 0 rg BT 382.10 142.25 Td (e recorded these gains as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 130.25 Td (adjustment to operating expense, of which $0.6 million was recognized in 2015 and $0.5 million was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 118.25 Td (recognized in 2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 94.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 94.25 Td (NYMEX contracts covering 0.3 million barrels of butane purchases that mature between ) Tj ET Q q 0 0 0 rg BT 455.28 94.25 Td (April and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 82.25 Td (December 2016, which are being accounted for as economic hedges. ) Tj ET Q q 0 0 0 rg BT 375.93 82.25 Td (Through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.87 82.25 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.47 82.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 70.25 Td (cumulative amount of net unrealized losses associated with these agreements was $1.5 million. ) Tj ET Q q 0 0 0 rg BT 481.22 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 489.85 70.25 Td (e ) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 704.10 Td (recorded these losses as an adjustment to cost of product sales, of which $1.6 million of net losses was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 692.10 Td (recognized in 2015 and $0.1 million of net gains was recognized in 2016. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 668.10 Td (Derivative Contracts Not Designated as Hedges Settled) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 644.10 Td (NYMEX contracts covering 2.3 million barrels of refined products related to economic hedges of products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 632.10 Td (from our butane blending, fractionation and certain crude oil inventory activities that we sold during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.77 632.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.77 632.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 620.10 Td (W) Tj ET Q q 0 0 0 rg BT 107.64 620.10 Td (e recognized a gain of $13.9 million in 2016 related to these contracts, which we recorded as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 608.10 Td (adjustment to product sales revenue.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 584.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 584.10 Td (NYMEX contracts covering 1.4 million barrels of refined products and crude oil related to economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 572.10 Td (hedges of product inventories from product overages on our pipeline system that we sold during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.86 572.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.86 572.10 Td (. ) Tj ET Q q 0 0 0 rg BT 513.17 572.10 Td (W) Tj ET Q q 0 0 0 rg BT 521.81 572.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 560.10 Td (recognized a gain of $2.1 million in 2016 on the settlement of these contracts, which we recorded as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 548.10 Td (adjustment to operating expense.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 524.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 524.10 Td (NYMEX contracts covering 0.6 million barrels related to economic hedges of butane purchases we made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 512.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.61 512.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.61 512.10 Td ( associated with our butane blending activities. ) Tj ET Q q 0 0 0 rg BT 339.88 512.10 Td (W) Tj ET Q q 0 0 0 rg BT 348.52 512.10 Td (e recognized a loss of $0.5 million in 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 500.10 Td (on the settlement of these contracts, which we recorded as an adjustment to cost of product sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 476.10 Td (Impact of Commodity Derivatives on Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 452.10 Td (The following tables provide a summary of the positive and \(negative\) impacts of the mark-to-market gains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 440.10 Td (and losses associated with NYMEX contracts on our results of operations for the respective periods presented \(in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 428.10 Td (millions\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 390.6 m 290.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 390.6 m 294.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 390.6 m 339.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 390.6 m 343.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 390.6 m 388.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 390.6 m 392.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 390.6 m 437.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 390.6 m 441.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 390.6 m 486.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 360.6 m 290.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 360.6 m 339.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 360.6 m 388.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 360.6 m 437.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 360.6 m 486.5 360.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 310.6 m 290.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 296.6 m 290.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 294.6 m 290.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 310.6 m 339.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 296.6 m 339.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 294.6 m 339.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 310.6 m 388.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 296.6 m 388.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 294.6 m 388.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 310.6 m 437.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 296.6 m 437.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 294.6 m 437.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 310.6 m 486.5 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 296.6 m 486.5 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 294.6 m 486.5 294.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.60 394.83 Td (Three Months Ended March 31, 2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.75 380.83 Td (Product) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.80 372.83 Td (Sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.80 364.83 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.35 380.83 Td (Cost of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 372.83 Td (Product) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 364.83 Td (Sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.90 372.83 Td (Operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.25 364.83 Td (Expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.35 372.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 400.25 364.83 Td (Expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.25 380.83 Td (Net Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.25 372.83 Td (on Net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.80 364.83 Td (Income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 343.85 Td (NYMEX gains \(losses\) recorded on open) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 335.85 Td (contracts during the period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.00 335.55 Td (............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.80 336.27 Td (\(1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 336.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 336.27 Td (\(1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 336.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 336.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.80 336.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 336.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 336.32 Td (\(0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 336.27 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 322.85 Td (NYMEX gains \(losses\) recognized on settled) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 314.85 Td (contracts during the period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.00 314.55 Td (............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 315.27 Td (5.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 315.27 Td (\(0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 315.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.80 315.32 Td (\(0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 315.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 315.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 315.27 Td (4.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 299.85 Td (Net impact of NYMEX contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.00 299.55 Td (......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 300.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 300.27 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 300.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 300.27 Td (\(1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 300.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 300.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 300.27 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 300.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.80 300.32 Td (\(0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 300.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 300.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 300.27 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 258.6 m 290.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 258.6 m 294.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 258.6 m 339.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 258.6 m 343.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 258.6 m 388.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 258.6 m 392.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 258.6 m 437.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 258.6 m 441.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 258.6 m 486.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 258.6 m 290.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 228.60000000000002 m 290.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 258.6 m 339.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 228.60000000000002 m 339.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 228.60000000000002 m 388.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 228.60000000000002 m 437.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 258.6 m 486.5 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 228.60000000000002 m 486.5 228.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 186.60000000000002 m 290.5 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 172.60000000000002 m 290.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 170.60000000000002 m 290.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 186.60000000000002 m 339.5 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 172.60000000000002 m 339.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 170.60000000000002 m 339.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 186.60000000000002 m 388.5 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 172.60000000000002 m 388.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 170.60000000000002 m 388.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 186.60000000000002 m 437.5 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 172.60000000000002 m 437.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 170.60000000000002 m 437.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 186.60000000000002 m 486.5 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 172.60000000000002 m 486.5 172.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 170.60000000000002 m 486.5 170.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.60 262.83 Td (Three Months Ended March 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.75 248.83 Td (Product) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.80 240.83 Td (Sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.80 232.83 Td (Revenue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 304.35 248.83 Td (Cost of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 240.83 Td (Product) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.80 232.83 Td (Sales) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.90 240.83 Td (Operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 351.25 232.83 Td (Expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.35 240.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.80 232.83 Td (Income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.25 248.83 Td (Net Impact) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 452.25 240.83 Td (on Net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.80 232.83 Td (Income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 219.85 Td (NYMEX gains recorded on open contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 211.85 Td (during the period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 156.00 211.55 Td (...........................................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 212.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 212.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 212.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 212.27 Td (0.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 212.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 212.27 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 212.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 212.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 212.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 212.27 Td (5.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 198.85 Td (NYMEX gains \(losses\) recognized on settled) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 99.00 190.85 Td (contracts during the period) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.00 190.55 Td (............................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 191.27 Td (13.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 191.27 Td (\(0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 191.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 191.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 191.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 191.27 Td (15.5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 90.00 175.85 Td (Net impact of NYMEX contracts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.00 175.55 Td (......................) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 176.27 Td (16.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 176.27 Td (\(0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 176.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 176.27 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 176.27 Td (2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 176.27 Td (20.5) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 87.00 136.10 Td (Related Party T) Tj ET Q q 0 0 0 rg BT 151.06 136.10 Td (ransactions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.35 136.10 Td (See Note 13 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.23 136.10 Td (Related Party T) Tj ET Q q 0 0 0 rg BT 328.00 136.10 Td (ransactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.67 136.10 Td ( in Item 1 of this report for detail of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 124.10 Td (our related party transactions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 100.10 Td (Board of Director Changes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.95 100.10 Td (On March 25, 2016, Patrick C. Eilers, an independent member of our general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 88.10 Td (partner) Tj ET Q q 0 0 0 rg BT 91.69 88.10 Td () Tj ET Q q 0 0 0 rg BT 94.46 88.10 Td (s board of directors, resigned from the board to pursue other interests. Mr) Tj ET Q q 0 0 0 rg BT 390.22 88.10 Td (. Eilers accepted a full-time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 76.10 Td (position with a firm that has a policy restricting its employees from serving on the board of directors of a public ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td (company) Tj ET Q q 0 0 0 rg BT 99.01 704.10 Td (. Mr) Tj ET Q q 0 0 0 rg BT 118.18 704.10 Td (. Eilers) Tj ET Q q 0 0 0 rg BT 149.09 704.10 Td ( resignation was not the result of any disagreement with us on any matter relating to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td (operations, policies or practices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 656.10 Td (ITEM 3. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.00 656.10 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 198.93 656.10 Td (A) Tj ET Q q 0 0 0 rg BT 205.41 656.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 231.81 656.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 294.69 656.10 Td (A) Tj ET Q q 0 0 0 rg BT 301.17 656.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 400.65 656.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 436.03 656.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 483.35 656.10 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 632.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 632.10 Td (e may be exposed to market risk through changes in commodity prices and interest rates. ) Tj ET Q q 0 0 0 rg BT 453.13 632.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.77 632.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.10 Td (established policies to monitor and control these market risks. ) Tj ET Q q 0 0 0 rg BT 312.77 620.10 Td (W) Tj ET Q q 0 0 0 rg BT 321.40 620.10 Td (e use derivative agreements to help manage our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 608.10 Td (exposure to commodity price and interest rate risks. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 584.10 Td (Commodity Price Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 560.10 Td (Our commodity price risk primarily arises from our butane blending and fractionation activities, and from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 548.10 Td (managing product overages associated with our refined products and crude oil pipelines. ) Tj ET Q q 0 0 0 rg BT 421.60 548.10 Td (W) Tj ET Q q 0 0 0 rg BT 430.24 548.10 Td (e use derivatives such as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 536.10 Td (forward physical contracts and NYMEX contracts to help us manage commodity price risk. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 512.10 Td (Forward physical contracts that qualify for and are elected as normal purchases and sales are accounted for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 500.10 Td (using traditional accrual accounting. ) Tj ET Q q 0 0 0 rg BT 212.95 500.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.39 500.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.99 500.10 Td (, we had commitments under forward purchase and sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 488.10 Td (contracts used in our butane blending and fractionation activities as follows \(in millions\):) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.25 456.6 m 378.25 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.25 456.6 m 432.25 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.25 456.6 m 486.25 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.25 456.6 m 378.25 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.25 456.6 m 432.25 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.25 456.6 m 486.25 456.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 342.90 461.05 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 390.90 461.05 Td (< 1 Year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 440.75 461.05 Td (1 - 3 Years) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 131.75 445.06 Td (Forward purchase contracts notional value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 293.25 444.86 Td (..............) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.75 445.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 445.06 Td (50.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.85 445.06 Td (39.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.85 445.06 Td (10.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 131.75 429.06 Td (Forward purchase contracts barrels) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 428.86 Td (..........................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.50 429.06 Td (1.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.10 429.06 Td (1.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.10 429.06 Td (0.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 131.75 413.06 Td (Forward sales contracts notional value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 277.50 412.86 Td (.....................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 330.75 413.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.00 413.06 Td (15.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 398.85 413.06 Td (14.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.10 413.06 Td (1.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 131.75 397.06 Td (Forward sales contracts barrels) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 250.50 396.86 Td (.................................) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.50 397.06 Td (0.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 401.10 397.06 Td (0.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.25 397.06 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 381.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 369.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.64 369.10 Td (e use NYMEX contracts to hedge against changes in the price of petroleum products we expect to sell or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 357.10 Td (purchase. Some of these NYMEX contracts qualify for hedge accounting treatment, and we designate and account ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 345.10 Td (for these contracts as either cash flow or fair value hedges. ) Tj ET Q q 0 0 0 rg BT 302.44 345.10 Td (W) Tj ET Q q 0 0 0 rg BT 311.08 345.10 Td (e account for those NYMEX contracts that do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 333.10 Td (qualify for hedge accounting treatment as economic hedges. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 309.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.50 309.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.10 309.10 Td (, we had open NYMEX contracts representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.82 309.10 Td (4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.71 309.10 Td ( barrels of petroleum products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 297.10 Td (we expect to sell in the future. ) Tj ET Q q 0 0 0 rg BT 188.24 297.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 238.14 297.10 Td (, we had open NYMEX contracts for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.10 297.10 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.99 297.10 Td ( barrels of butane we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 285.10 Td (expect to purchase in the future. ) Tj ET Q q 0 0 0 rg BT 195.73 285.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.23 285.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.83 285.10 Td (, the fair value of our open NYMEX contracts was a net asset of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 273.10 Td ($22.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 273.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 249.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.50 249.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.10 249.10 Td (, open NYMEX contracts, primarily sales contracts, representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.96 249.10 Td (3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.86 249.10 Td ( barrels of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 237.10 Td (petroleum products did not qualify for hedge accounting treatment. ) Tj ET Q q 0 0 0 rg BT 333.48 237.10 Td (A) Tj ET Q q 0 0 0 rg BT 340.15 237.10 Td ( $10.00 per barrel increase in the price of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 225.10 Td (NYMEX contracts for the related petroleum products would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.75 225.10 Td ($36.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.64 225.10 Td ( decrease in our operating profit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 213.10 Td (and a $10.00 per barrel decrease in the price of these NYMEX contracts would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.42 213.10 Td ($36.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.32 213.10 Td ( increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 201.10 Td (our operating profit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 177.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.50 177.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.10 177.10 Td (, we had open NYMEX contracts, primarily purchase contracts, representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.16 177.10 Td (0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.05 177.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 165.10 Td (barrels of butane we expect to purchase in the future. Relative to these agreements, a $10.00 per barrel increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 153.10 Td (the price of butane would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.62 153.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.51 153.10 Td ( increase in our operating profit and a $10.00 per barrel decrease in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 141.10 Td (the price of butane would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.62 141.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.51 141.10 Td ( decrease in our operating profit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 117.10 Td (The increases or decreases in operating profit we recognize from our open NYMEX forward sales and price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 105.10 Td (swap contracts would be substantially of) Tj ET Q q 0 0 0 rg BT 225.29 105.10 Td (fset by higher or lower product sales revenue or cost of product sales when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 93.10 Td (the physical sale or purchase of those products occur) Tj ET Q q 0 0 0 rg BT 273.49 93.10 Td (. ) Tj ET Q q 0 0 0 rg BT 278.31 93.10 Td (These contracts may be for the purchase or sale of product in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 81.10 Td (markets dif) Tj ET Q q 0 0 0 rg BT 108.08 81.10 Td (ferent from those in which we are attempting to hedge our exposure and the resulting hedges may not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 69.10 Td (eliminate all price risks.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 87.00 692.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 106.07 692.10 Td (est Rate Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 668.10 Td (Our use of variable rate debt and any forecasted issuances of fixed rate debt expose us to interest rate risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 644.10 Td (During 2015 and 2016, we entered into $250.0 million of forward-starting interest rate swap agreements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 632.10 Td (hedge against the risk of variability of future interest payments on a portion of debt we anticipate issuing in 2016. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.10 Td (The fair value of these contracts at March 31, 2016 was a liability of $1) Tj ET Q q 0 0 0 rg BT 348.92 620.10 Td (1.0 million. ) Tj ET Q q 0 0 0 rg BT 400.13 620.10 Td (W) Tj ET Q q 0 0 0 rg BT 408.77 620.10 Td (e account for these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 608.10 Td (agreements as cash flow hedges. ) Tj ET Q q 0 0 0 rg BT 197.68 608.10 Td (A) Tj ET Q q 0 0 0 rg BT 204.35 608.10 Td ( 0.125% decrease in the interest rates would result in an increase in the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 596.10 Td (of this liability of approximately $3.1 million. ) Tj ET Q q 0 0 0 rg BT 251.32 596.10 Td (A) Tj ET Q q 0 0 0 rg BT 257.99 596.10 Td ( 0.125% increase in the interest rates would result in a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 584.10 Td (this liability of approximately $3.0 million.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 543.10 Td (ITEM 4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.00 543.10 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 211.07 543.10 Td (AND PROCEDURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 519.10 Td (W) Tj ET Q q 0 0 0 rg BT 95.64 519.10 Td (e performed an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 235.95 519.10 Td (fectiveness of the design and operation of our disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 507.10 Td (procedures \(as defined in rule 13a-14\(c\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 334.56 507.10 Td (Act\) as of the end of the period covered by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 495.10 Td (date of this report. ) Tj ET Q q 0 0 0 rg BT 138.63 495.10 Td (W) Tj ET Q q 0 0 0 rg BT 147.27 495.10 Td (e performed this evaluation under the supervision and with the participation of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 483.10 Td (management, including our general partner) Tj ET Q q 0 0 0 rg BT 235.80 483.10 Td () Tj ET Q q 0 0 0 rg BT 238.58 483.10 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 322.54 483.10 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 435.09 483.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 452.86 483.10 Td (. Based upon that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 471.10 Td (evaluation, our general partner) Tj ET Q q 0 0 0 rg BT 186.09 471.10 Td () Tj ET Q q 0 0 0 rg BT 188.87 471.10 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 272.83 471.10 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 385.38 471.10 Td (ficer concluded that these disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 459.10 Td (controls and practices are ef) Tj ET Q q 0 0 0 rg BT 174.98 459.10 Td (fective in providing reasonable assurance that all required disclosures are included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 447.10 Td (current report. ) Tj ET Q q 0 0 0 rg BT 122.14 447.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 172.04 447.10 Td (, these disclosure controls and practices are ef) Tj ET Q q 0 0 0 rg BT 355.12 447.10 Td (fective in ensuring that information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 435.10 Td (required to be disclosed is accumulated and communicated to our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 404.93 435.10 Td (ficer and Chief Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 423.10 Td (Of) Tj ET Q q 0 0 0 rg BT 73.37 423.10 Td (ficer to allow timely decisions regarding required disclosures. ) Tj ET Q q 0 0 0 rg BT 322.84 423.10 Td (There has been no change in our internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 411.10 Td (over financial reporting \(as defined in Rule 13a-15\(f\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 387.33 411.10 Td (Act\) during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 399.10 Td (March 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.60 399.10 Td ( that has materially af) Tj ET Q q 0 0 0 rg BT 213.05 399.10 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 394.46 399.10 Td (fect, our internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 387.10 Td (financial reporting. ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.00 692.10 Td (Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 668.10 Td (Certain matters discussed in this Quarterly Report on Form 10-Q include forward-looking statements within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 656.10 Td (the meaning of Section 27A) Tj ET Q q 0 0 0 rg BT 174.65 656.10 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 244.07 656.10 Td (Act and Section 21E of the Exchange ) Tj ET Q q 0 0 0 rg BT 395.97 656.10 Td (Act that discuss our expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 644.10 Td (future results based on current and pending business operations. ) Tj ET Q q 0 0 0 rg BT 321.09 644.10 Td (W) Tj ET Q q 0 0 0 rg BT 329.73 644.10 Td (e make these forward-looking statements in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 632.10 Td (reliance on the safe harbor protections provided under the Private Securities Litigation Reform ) Tj ET Q q 0 0 0 rg BT 443.71 632.10 Td (Act of 1995. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 620.10 Td (Forward-looking statements can be identified by words such as anticipates, tar) Tj ET Q q 0 0 0 rg BT 389.66 620.10 Td (gets, believes, continue, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 608.10 Td (could, estimates, expects, forecasts, goal, guidance, intends, may) Tj ET Q q 0 0 0 rg BT 388.29 608.10 Td (, might, plans, potential, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 596.10 Td (projected, scheduled, should, will and other similar expressions. ) Tj ET Q q 0 0 0 rg BT 356.79 596.10 Td (Although we believe our forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 584.10 Td (statements are based on reasonable assumptions, statements made regarding future results are not guarantees of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 572.10 Td (future performance and subject to numerous assumptions, uncertainties and risks that are dif) Tj ET Q q 0 0 0 rg BT 431.88 572.10 Td (ficult to predict. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 560.10 Td (Therefore, actual outcomes and results may be materially dif) Tj ET Q q 0 0 0 rg BT 305.78 560.10 Td (ferent from the results stated or implied in such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 548.10 Td (forward-looking statements included in this report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 536.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 524.10 Td (The following are among the important factors that could cause future results to dif) Tj ET Q q 0 0 0 rg BT 419.77 524.10 Td (fer materially from any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 512.10 Td (projected, forecasted, estimated or budgeted amounts we have discussed in this report:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 500.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 488.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 488.10 Td (overall demand for refined products, crude oil, liquefied petroleum gases and ammonia in the U.S.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 476.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 476.10 Td (price fluctuations for refined products, crude oil, liquefied petroleum gases and ammonia and expectations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 464.10 Td (about future prices for these products;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 452.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 452.10 Td (decreases in the production of crude oil in the basins served by our pipelines;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 440.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 440.10 Td (changes in general economic conditions, interest rates and price levels;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 428.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 428.10 Td (changes in the financial condition of our customers, vendors, derivatives counterparties, lenders or joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 416.10 Td (venture co-owners;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 404.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 404.10 Td (our ability to secure financing in the credit and capital markets in amounts and on terms that will allow us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 392.10 Td (to execute our growth strategy) Tj ET Q q 0 0 0 rg BT 219.98 392.10 Td (, refinance our existing obligations when due and maintain adequate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 380.10 Td (liquidity;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 368.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 368.10 Td (development of alternative ener) Tj ET Q q 0 0 0 rg BT 225.70 368.10 Td (gy sources, including but not limited to natural gas, solar power) Tj ET Q q 0 0 0 rg BT 480.25 368.10 Td (, wind ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 356.10 Td (power and geothermal ener) Tj ET Q q 0 0 0 rg BT 207.94 356.10 Td (gy) Tj ET Q q 0 0 0 rg BT 217.29 356.10 Td (, increased use of biofuels such as ethanol and biodiesel, increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 344.10 Td (conservation or fuel ef) Tj ET Q q 0 0 0 rg BT 189.06 344.10 Td (ficiency) Tj ET Q q 0 0 0 rg BT 220.61 344.10 Td (, as well as regulatory developments or other trends that could af) Tj ET Q q 0 0 0 rg BT 479.24 344.10 Td (fect demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 332.10 Td (for our services;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 320.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 320.10 Td (changes in the throughput or interruption in service of refined products or crude oil pipelines owned and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 308.10 Td (operated by third parties and connected to our assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 296.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 296.10 Td (changes in demand for storage in our refined products, crude oil or marine terminals;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 284.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 284.10 Td (changes in supply and demand patterns for our facilities due to geopolitical events, the activities of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 272.10 Td (Or) Tj ET Q q 0 0 0 rg BT 109.37 272.10 Td (ganization of the Petroleum Exporting Countries, changes in U.S. trade policies or in laws governing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 260.10 Td (importing and exporting of petroleum products, technological developments or other factors;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 248.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 248.10 Td (our ability to manage interest rate and commodity price exposures;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 236.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 236.10 Td (changes in our tarif) Tj ET Q q 0 0 0 rg BT 176.29 236.10 Td (f rates implemented by the Federal Ener) Tj ET Q q 0 0 0 rg BT 336.60 236.10 Td (gy Regulatory Commission, the U.S. Surface ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 224.10 Td (T) Tj ET Q q 0 0 0 rg BT 104.76 224.10 Td (ransportation Board or state regulatory agencies;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 212.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 212.10 Td (shut-downs or cutbacks at refineries, oil wells, petrochemical plants, ammonia production facilities or other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 200.10 Td (customers or businesses that use or supply our services;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 188.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 188.10 Td (the ef) Tj ET Q q 0 0 0 rg BT 121.30 188.10 Td (fect of weather patterns and other natural phenomena, including climate change, on our operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 176.10 Td (and demand for our services;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 164.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 164.10 Td (an increase in the competition our operations encounter;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 152.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 152.10 Td (the occurrence of natural disasters, terrorism, operational hazards, equipment failures, system failures or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 140.10 Td (unforeseen interruptions;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 128.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 128.10 Td (our ability to obtain adequate levels of insurance at a reasonable cost, and the potential for losses to exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 116.10 Td (the insurance coverage we do obtain;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 104.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 104.10 Td (the treatment of us as a corporation for federal or state income tax purposes or if we become subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 92.10 Td (significant forms of other taxation or more aggressive enforcement or increased assessments under existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 80.10 Td (forms of taxation;) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 704.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 704.10 Td (our ability to identify expansion projects or to complete identified expansion projects on time and at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 692.10 Td (projected costs;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 680.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 680.10 Td (our ability to make and integrate accretive acquisitions and joint ventures and successfully execute our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 668.10 Td (business strategy;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 656.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 656.10 Td (uncertainty of estimates, including accruals and costs of environmental remediation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 644.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 644.10 Td (our ability to cooperate with and rely on our joint venture co-owners;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 632.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 632.10 Td (actions by rating agencies concerning our credit ratings;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 620.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 620.10 Td (our ability to timely obtain and maintain all necessary approvals, consents and permits required to operate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 608.10 Td (our existing assets and to construct, acquire and operate any new or modified assets; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 596.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 596.10 Td (our ability to promptly obtain all necessary services, materials, labor) Tj ET Q q 0 0 0 rg BT 372.69 596.10 Td (, supplies and rights-of-way required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 584.10 Td (for construction of our growth projects, and to complete construction without significant delays, disputes or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 572.10 Td (cost overruns;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 560.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 560.10 Td (risks inherent in the use and security of information systems in our business and implementation of new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 548.10 Td (software and hardware;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 536.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 536.10 Td (changes in laws and regulations that govern product quality specifications or renewable fuel obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 524.10 Td (that could impact our ability to produce gasoline volumes through our blending activities or that could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 512.10 Td (require significant capital outlays for compliance;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 500.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 500.10 Td (changes in laws and regulations to which we or our customers are or become subject, including tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 488.10 Td (withholding requirements, safety) Tj ET Q q 0 0 0 rg BT 230.26 488.10 Td (, security) Tj ET Q q 0 0 0 rg BT 266.27 488.10 Td (, employment, hydraulic fracturing, derivatives transactions, trade ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 476.10 Td (and environmental laws and regulations, including laws and regulations designed to address climate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 464.10 Td (change;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 452.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 452.10 Td (the cost and ef) Tj ET Q q 0 0 0 rg BT 156.85 452.10 Td (fects of legal and administrative claims and proceedings against us or our subsidiaries;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 440.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 440.10 Td (the amount of our indebtedness, which could make us vulnerable to general adverse economic and industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 428.10 Td (conditions, limit our ability to borrow additional funds, place us at competitive disadvantages compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 416.10 Td (our competitors that have less debt or have other adverse consequences;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 404.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 404.10 Td (the ef) Tj ET Q q 0 0 0 rg BT 121.30 404.10 Td (fect of changes in accounting policies;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 392.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 392.10 Td (the potential that our internal controls may not be adequate, weaknesses may be discovered or remediation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 380.10 Td (of any identified weaknesses may not be successful;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 368.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 368.10 Td (the ability of our customers, vendors, lenders, joint venture co-owners or other third parties to perform on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 356.10 Td (their contractual obligations to us;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 344.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 344.10 Td (petroleum product supply disruptions; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 332.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 332.10 Td (global and domestic repercussions from terrorist activities, including cyber attacks, and the government) Tj ET Q q 0 0 0 rg BT 516.10 332.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 320.10 Td (response thereto; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 308.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 308.10 Td (other factors and uncertainties inherent in the transportation, storage and distribution of petroleum products ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 296.10 Td (and ammonia, and the operation, acquisition and construction of assets related to such activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 284.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 272.10 Td (This list of important factors is not exclusive. ) Tj ET Q q 0 0 0 rg BT 269.46 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.09 272.10 Td (e undertake no obligation to publicly update or revise any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 260.10 Td (forward-looking statement, whether as a result of new information, future events, changes in assumptions or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 248.10 Td (otherwise.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.85 692.10 Td (P) Tj ET Q q 0 0 0 rg BT 284.22 692.10 Td (AR) Tj ET Q q 0 0 0 rg BT 298.31 692.10 Td (T) Tj ET Q q 0 0 0 rg BT 304.80 692.10 Td ( II) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.80 671.10 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 327.56 671.10 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 647.10 Td (ITEM 1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 647.10 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 169.46 647.10 Td ( PROCEEDINGS) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 626.10 Td (Clean) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 109.39 626.10 Td ( W) Tj ET Q q 0 0 0 rg BT 119.30 626.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 137.73 626.10 Td (Act Information Requests and Claims.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.22 626.10 Td ( In July 201) Tj ET Q q 0 0 0 rg BT 337.35 626.10 Td (1, we received an information request from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 614.10 Td (EP) Tj ET Q q 0 0 0 rg BT 73.75 614.10 Td (A) Tj ET Q q 0 0 0 rg BT 80.42 614.10 Td ( pursuant to Section 308 of the Clean ) Tj ET Q q 0 0 0 rg BT 231.33 614.10 Td (W) Tj ET Q q 0 0 0 rg BT 239.96 614.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 256.90 614.10 Td (Act regarding a pipeline release near ) Tj ET Q q 0 0 0 rg BT 406.08 614.10 Td (T) Tj ET Q q 0 0 0 rg BT 411.49 614.10 Td (exas City) Tj ET Q q 0 0 0 rg BT 448.34 614.10 Td (, ) Tj ET Q q 0 0 0 rg BT 453.16 614.10 Td (T) Tj ET Q q 0 0 0 rg BT 458.57 614.10 Td (exas in February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 602.10 Td (201) Tj ET Q q 0 0 0 rg BT 77.63 602.10 Td (1 \(the "T) Tj ET Q q 0 0 0 rg BT 112.67 602.10 Td (exas Release"\). In ) Tj ET Q q 0 0 0 rg BT 189.22 602.10 Td (April 2012, we received a similar information request from the EP) Tj ET Q q 0 0 0 rg BT 454.06 602.10 Td (A) Tj ET Q q 0 0 0 rg BT 460.73 602.10 Td ( pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 590.10 Td (Section 308 of the Clean ) Tj ET Q q 0 0 0 rg BT 164.19 590.10 Td (W) Tj ET Q q 0 0 0 rg BT 172.82 590.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 189.76 590.10 Td (Act regarding a pipeline release near Nemaha, Nebraska in December 201) Tj ET Q q 0 0 0 rg BT 486.19 590.10 Td (1 \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 578.10 Td ("Nebraska Release"\). In October 2015, we received a letter from the U.S. Department of Justice \("DOJ Letter"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 566.10 Td (stating that the Clean ) Tj ET Q q 0 0 0 rg BT 150.02 566.10 Td (W) Tj ET Q q 0 0 0 rg BT 158.66 566.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 175.59 566.10 Td (Act claims arising out of the ) Tj ET Q q 0 0 0 rg BT 291.50 566.10 Td (T) Tj ET Q q 0 0 0 rg BT 296.91 566.10 Td (exas Release, the Nebraska Release and a pipeline release ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 554.10 Td (near El Dorado, Kansas in May 2015 have all been referred to the U.S. Department of Justice for enforcement. ) Tj ET Q q 0 0 0 rg BT 510.44 554.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 542.10 Td (DOJ Letter proposed a settlement of Clean ) Tj ET Q q 0 0 0 rg BT 236.38 542.10 Td (W) Tj ET Q q 0 0 0 rg BT 245.02 542.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 261.95 542.10 Td (Act claims related to the three releases in the form of an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 530.10 Td (enforceable commitment from us to take certain yet to be determined steps to prevent future releases and a civil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 518.10 Td (penalty of $2.8 million. In response to the DOJ Letter) Tj ET Q q 0 0 0 rg BT 279.78 518.10 Td (, we are engaged in discussions with the U.S. Department of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 506.10 Td (Justice in an ef) Tj ET Q q 0 0 0 rg BT 122.52 506.10 Td (fort to settle the Clean ) Tj ET Q q 0 0 0 rg BT 213.70 506.10 Td (W) Tj ET Q q 0 0 0 rg BT 222.34 506.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 239.27 506.10 Td (Act claims on terms that are mutually agreeable. ) Tj ET Q q 0 0 0 rg BT 437.91 506.10 Td (While the results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 494.10 Td (cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 198.41 494.10 Td (, we believe the ultimate resolution of these matters will not have a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 482.10 Td (impact on our results of operations, financial position or cash flows.) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 461.10 Td (U.S) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 100.22 461.10 Td (. Oil Recovery) Tj ET Q q 0 0 0 rg BT 157.14 461.10 Td (, EP) Tj ET Q q 0 0 0 rg BT 173.07 461.10 Td (A) Tj ET Q q 0 0 0 rg BT 179.00 461.10 Td ( ID No.: TXN000607093 Superfund Site.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.49 461.10 Td () Tj ET Q q 0 0 0 rg BT 343.81 461.10 Td (W) Tj ET Q q 0 0 0 rg BT 352.45 461.10 Td (e have liability at the U.S. Oil Recovery ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 449.10 Td (Superfund Site in Pasadena, ) Tj ET Q q 0 0 0 rg BT 177.52 449.10 Td (T) Tj ET Q q 0 0 0 rg BT 182.93 449.10 Td (exas as a potential responsible party \(PRP\) under Section 107\(a\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 437.10 Td (Comprehensive Environmental Response, Compensation, and Liability ) Tj ET Q q 0 0 0 rg BT 349.62 437.10 Td (Act of 1980, as amended \(CERCLA\). ) Tj ET Q q 0 0 0 rg BT 511.25 437.10 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 425.10 Td (result of the EP) Tj ET Q q 0 0 0 rg BT 124.02 425.10 Td (A) Tj ET Q q 0 0 0 rg BT 130.13 425.10 Td () Tj ET Q q 0 0 0 rg BT 132.91 425.10 Td (s ) Tj ET Q q 0 0 0 rg BT 138.75 425.10 Td (Administrative Settlement ) Tj ET Q q 0 0 0 rg BT 245.95 425.10 Td (Agreement and Order on Consent for Removal ) Tj ET Q q 0 0 0 rg BT 435.63 425.10 Td (Action, filed ) Tj ET Q q 0 0 0 rg BT 488.12 425.10 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 413.10 Td (25, 201) Tj ET Q q 0 0 0 rg BT 92.63 413.10 Td (1, EP) Tj ET Q q 0 0 0 rg BT 113.38 413.10 Td (A) Tj ET Q q 0 0 0 rg BT 120.05 413.10 Td ( Region 6, CERCLA) Tj ET Q q 0 0 0 rg BT 202.83 413.10 Td ( Docket No. 06-10-1) Tj ET Q q 0 0 0 rg BT 285.22 413.10 Td (1, we voluntarily entered into the PRP) Tj ET Q q 0 0 0 rg BT 437.88 413.10 Td ( group responsible for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 401.10 Td (the site investigation, stabilization and subsequent site cleanup. ) Tj ET Q q 0 0 0 rg BT 318.32 401.10 Td (W) Tj ET Q q 0 0 0 rg BT 326.96 401.10 Td (e have paid $15,000 associated with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 389.10 Td (assessment phase. Until this assessment phase has been completed, we cannot reasonably estimate our proportionate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 377.10 Td (share of the remediation costs associated with this site. ) Tj ET Q q 0 0 0 rg BT 286.93 377.10 Td (While the results cannot be reasonably estimated, we believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 365.10 Td (the ultimate resolution of this matter will not have a material impact on our results of operations, financial position ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 353.10 Td (or cash flows.) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 332.10 Td (Lake) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 104.94 332.10 Td ( Calumet Cluster Site, EP) Tj ET Q q 0 0 0 rg BT 206.70 332.10 Td (A) Tj ET Q q 0 0 0 rg BT 212.62 332.10 Td ( ID No.: ILD000716852 Superfund Site. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.89 332.10 Td (W) Tj ET Q q 0 0 0 rg BT 386.53 332.10 Td (e have liability at the Lake Calumet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 320.10 Td (Cluster Superfund Site in Chicago, Illinois as a PRP) Tj ET Q q 0 0 0 rg BT 271.23 320.10 Td ( under Sections 107\(a\) and 1) Tj ET Q q 0 0 0 rg BT 385.55 320.10 Td (13\(f\)\(1\) of CERCLA. ) Tj ET Q q 0 0 0 rg BT 476.93 320.10 Td (As a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 308.10 Td (the EP) Tj ET Q q 0 0 0 rg BT 88.47 308.10 Td (A) Tj ET Q q 0 0 0 rg BT 94.58 308.10 Td () Tj ET Q q 0 0 0 rg BT 97.36 308.10 Td (s ) Tj ET Q q 0 0 0 rg BT 103.20 308.10 Td (Administrative Settlement ) Tj ET Q q 0 0 0 rg BT 210.41 308.10 Td (Agreement and Order for Remedial Investigation/Feasibility Study of June ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 296.10 Td (2013, we are in the process of voluntarily entering the PRP) Tj ET Q q 0 0 0 rg BT 298.97 296.10 Td ( group responsible for the investigation, cleanup and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 284.10 Td (installation of an appropriate clay cap over the site. ) Tj ET Q q 0 0 0 rg BT 272.46 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 281.10 284.10 Td (e have paid $8,000 associated with the Remedial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 272.10 Td (Investigation/Feasibility Study and cleanup costs to date. Our projected portion of the estimated cap installation is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 260.10 Td ($55,000. ) Tj ET Q q 0 0 0 rg BT 102.82 260.10 Td (While the results cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 308.48 260.10 Td (, we believe the ultimate resolution of this matter will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 248.10 Td (not have a material impact on our results of operations, financial position or cash flows.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 85.50 227.10 Td (W) Tj ET Q q 0.13725490196078433 0.12156862745098039 0.12549019607843137 rg BT 94.14 227.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 98.58 227.10 Td ( are a party to various other claims, legal actions and complaints arising in the ordinary course of business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 215.10 Td (While the results cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 268.66 215.10 Td (, management believes the ultimate resolution of these claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 203.10 Td (legal actions and complaints after consideration of amounts accrued, insurance coverage or other indemnification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 191.10 Td (arrangements will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 256.90 191.10 Td (fect on our future results of operations, financial position or cash ) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 27.22 0 0 10.09 63.00 176.94 cm /I13 Do Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 143.10 Td (ITEM 1A. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 143.10 Td (RISK F) Tj ET Q q 0 0 0 rg BT 167.32 143.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 188.25 143.10 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 119.10 Td (In addition to the information set forth in this report, you should carefully consider the factors discussed in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 107.10 Td (Part I, Item1A. Risk Factors in our ) Tj ET Q q 0 0 0 rg BT 215.20 107.10 Td (Annual Report on Form 10-K for the year ended December31, 2015, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 95.10 Td (could materially af) Tj ET Q q 0 0 0 rg BT 138.34 95.10 Td (fect our business, financial condition or future results. ) Tj ET Q q 0 0 0 rg BT 356.44 95.10 Td (The risks described in our ) Tj ET Q q 0 0 0 rg BT 462.25 95.10 Td (Annual Report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 83.10 Td (on Form 10-K are not our only risks. ) Tj ET Q q 0 0 0 rg BT 212.16 83.10 Td (Additional risks and uncertainties not currently known to us or that we ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 704.10 Td (currently deem to be immaterial also could materially adversely af) Tj ET Q q 0 0 0 rg BT 328.55 704.10 Td (fect our business, financial condition or operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 692.10 Td (results.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 644.10 Td (ITEM 2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 644.10 Td (UNREGISTERED SALES OF) Tj ET Q q 0 0 0 rg BT 265.22 644.10 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 306.80 644.10 Td ( SECURITIES ) Tj ET Q q 0 0 0 rg BT 371.83 644.10 Td (AND USE OF) Tj ET Q q 0 0 0 rg BT 431.46 644.10 Td ( PROCEEDS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 620.10 Td (None.) Tj ET Q BT /F1 14.00 Tf ET q 0 0 0 rg BT 63.00 603.30 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 574.50 Td (ITEM 3. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 574.50 Td (DEF) Tj ET Q q 0 0 0 rg BT 154.26 574.50 Td (AUL) Tj ET Q q 0 0 0 rg BT 174.45 574.50 Td (TS UPON SENIOR SECURITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 550.50 Td (None.) Tj ET Q BT /F1 14.00 Tf ET q 0 0 0 rg BT 63.00 533.70 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 504.90 Td (ITEM 4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 504.90 Td (MINE SAFETY) Tj ET Q q 0 0 0 rg BT 203.80 504.90 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 480.90 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 444.90 Td (ITEM 5. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 444.90 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 221.76 444.90 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 420.90 Td (None.) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 704.25 Td (ITEM 6. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.00 704.25 Td (EXHIBITS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 62.5 666.75 m 139.5 666.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 666.75 m 530.5 666.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 671.43 Td (Exhibit Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.00 671.43 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 653.32 Td (Exhibit 4.1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 653.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 653.32 Td (Sixth Supplemental Indenture dated as of February29, 2016, between Magellan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 643.32 Td (Midstream Partners, L.P. and U.S. Bank National Association, as trustee \(filed as Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 633.32 Td (4.2 to Form 8-K filed February 29, 2016\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 615.42 Td (Exhibit 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 615.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 615.42 Td (Ratio of earnings to fixed charges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 595.42 Td (Exhibit 31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 595.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 595.42 Td (Certification of Michael N. Mears, principal executive officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 577.32 Td (Exhibit 31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 577.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 577.32 Td (Certification of Aaron L. Milford, principal financial officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 559.32 Td (Exhibit 32.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 559.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 559.32 Td (Section 1350 Certification of Michael N. Mears, Chief Executive Officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 541.32 Td (Exhibit 32.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 541.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 541.32 Td (Section 1350 Certification of Aaron L. Milford, Chief Financial Officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 523.32 Td (Exhibit 101.INS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 523.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 523.32 Td (XBRL Instance Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 505.32 Td (Exhibit 101.SCH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 505.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 505.32 Td (XBRL Taxonomy Extension Schema.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 487.32 Td (Exhibit 101.CAL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 487.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 487.32 Td (XBRL Taxonomy Extension Calculation Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 469.32 Td (Exhibit 101.DEF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 469.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 469.32 Td (XBRL Taxonomy Extension Definition Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 451.32 Td (Exhibit 101.LAB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 451.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 451.32 Td (XBRL Taxonomy Extension Label Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 433.32 Td (Exhibit 101.PRE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 433.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 433.32 Td (XBRL Taxonomy Extension Presentation Linkbase.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 406.05 Td (* Each such exhibit has heretofore been filed with the Securities and Exchange Commission as part of the filing indicated and is incorporated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 396.45 Td (herein by reference.) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.85 692.10 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 295.78 692.10 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 671.10 Td (Pursuant to the requirements of the Securities and Exchange ) Tj ET Q q 0 0 0 rg BT 329.99 671.10 Td (Act of 1934, the registrant has duly caused this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 659.10 Td (report to be signed on its behalf by the undersigned thereunto duly authorized in ) Tj ET Q q 0 0 0 rg BT 386.07 659.10 Td (T) Tj ET Q q 0 0 0 rg BT 391.83 659.10 Td (ulsa, Oklahoma on May 4, 2016.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 648.30 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 558.8 m 322.5 558.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 558.8 m 326.5 558.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 558.8 m 529.5 558.8 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 627.47 Td (MAGELLAN MIDSTREAM PARTNERS, L.P.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 608.47 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 608.47 Td (Magellan GP, LLC,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.00 593.05 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 593.47 Td (its general partner) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 563.47 Td (/s/ Aaron L. Milford) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 548.47 Td (Aaron L. Milford) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 533.47 Td (Chief Financial Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 518.47 Td (\(Principal Accounting and Financial Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 756.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 756.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 51.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 692.10 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 283.07 692.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.00 692.10 Td (O EXHIBITS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 617.6 m 139.5 617.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 159.5 617.6 m 519.5 617.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 622.27 Td (Exhibit Number) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 162.00 621.83 Td (Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 604.17 Td (Exhibit 4.1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 604.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 604.17 Td (Sixth Supplemental Indenture dated as of February29, 2016, between Magellan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 594.17 Td (Midstream Partners, L.P. and U.S. Bank National Association, as trustee \(filed as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 584.17 Td (Exhibit 4.2 to Form 8-K filed February 29, 2016\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 566.17 Td (Exhibit 12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 564.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 566.17 Td (Ratio of earnings to fixed charges.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 547.17 Td (Exhibit 31.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 545.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 547.17 Td (Certification of Michael N. Mears, principal executive officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 528.17 Td (Exhibit 31.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 526.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 528.17 Td (Certification of Aaron L. Milford, principal financial officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 509.17 Td (Exhibit 32.1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 507.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 509.17 Td (Section 1350 Certification of Michael N. Mears, Chief Executive Officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 490.17 Td (Exhibit 32.2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 488.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 490.17 Td (Section 1350 Certification of Aaron L. Milford, Chief Financial Officer.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 471.17 Td (Exhibit 101.INS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 469.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 471.17 Td (XBRL Instance Document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 452.17 Td (Exhibit 101.SCH) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 450.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 452.17 Td (XBRL Taxonomy Extension Schema.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 433.17 Td (Exhibit 101.CAL) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 431.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 433.17 Td (XBRL Taxonomy Extension Calculation Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 413.27 Td (Exhibit 101.DEF) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 413.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 413.27 Td (XBRL Taxonomy Extension Definition Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 394.27 Td (Exhibit 101.LAB) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.00 394.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 394.27 Td (XBRL Taxonomy Extension Label Linkbase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 375.27 Td (Exhibit 101.PRE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 142.00 374.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 375.27 Td (XBRL Taxonomy Extension Presentation Linkbase.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.00 347.90 Td (* Each such exhibit has heretofore been filed with the Securities and Exchange Commission as part of the filing indicated and is incorporated ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.00 338.30 Td (herein by reference.) Tj ET Q endstream endobj 85 0 obj <> /View <>>>>> endobj 86 0 obj <> /View <>>>>> endobj 87 0 obj <> endobj 88 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;