Commitments and Contingencies |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies |
Capital Leases The Partnership holds leases for office and warehouse space, dock facilities, transportation equipment and other equipment, which are recorded as capital leases. At December 31, 2015 and 2014, the Partnership had short-term capital lease obligations of $1.0 million and $1.3 million, respectively, and long-term capital lease obligations of $3.6 million and $5.4 million, respectively. These balances exclude the obligations related to its Searsport, Maine terminal. See Note 13. Capital lease repayments are due as follows:
Operating Leases The Partnership has leases for a refined products terminal, refined products storage, maritime charters, office and plant facilities, computer and other equipment for periods extending to 2034 which are recorded as operating leases. Renewal options exist for a substantial portion of these leases. For operating leases, rental expense was $22.1 million, $17.4 million and $11.8 million for the years ended December 31, 2015, 2014 and 2013, respectively. The following table summarizes the future minimum payments for the following five fiscal years for operating lease obligations as of December 31, 2015 with non-cancellable lease terms of one year or more:
Legal, Environmental and Other Proceedings The Partnership is involved in various lawsuits, other proceedings and environmental matters, all of which arose in the normal course of business. The Partnership believes, based upon its examination of currently available information, its experience to date, and advice from legal counsel, that the individual and aggregate liabilities resulting from the resolution of these contingent matters will not have a material adverse impact on the Partnership’s consolidated results of operations, financial position or cash flows. |
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