Commission file
number: 01-32665
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||
BOARDWALK
PIPELINE PARTNERS, LP
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||
(Exact
name of registrant as specified in its charter)
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DELAWARE
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(State
or other jurisdiction of incorporation or organization)
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20-3265614
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(I.R.S.
Employer Identification No.)
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||
9
Greenway Plaza, Suite 2800
Houston,
Texas 77046
(866)
913-2122
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(Address
and Telephone Number of Registrant’s Principal Executive
Office)
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Securities
registered pursuant to Section 12(b) of the Act:
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Title
of each class
|
Name
of each exchange on which registered
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|
Common
Units Representing Limited Partner Interests
|
New
York Stock Exchange
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|
Securities registered pursuant
to Section 12(g) of the Act: NONE
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Item
1. Financial Statements
|
March
31,
|
December
31,
|
|||||||
ASSETS
|
2009
|
2008
|
||||||
Current
Assets:
|
||||||||
Cash
and cash equivalents
|
$ | 114.6 | $ | 137.7 | ||||
Short-term
investments
|
- | 175.0 | ||||||
Receivables:
|
||||||||
Trade,
net
|
76.2 | 67.3 | ||||||
Other
|
20.4 | 18.0 | ||||||
Gas
transportation receivables
|
40.5 | 13.5 | ||||||
Inventories
|
3.4 | 2.6 | ||||||
Costs
recoverable from customers
|
5.4 | 5.4 | ||||||
Gas
stored underground
|
0.9 | 0.2 | ||||||
Prepayments
|
5.0 | 17.3 | ||||||
Other
current assets
|
17.0 | 14.8 | ||||||
Total
current assets
|
283.4 | 451.8 | ||||||
Property,
Plant and Equipment:
|
||||||||
Natural
gas transmission plant
|
6,044.6 | 3,871.0 | ||||||
Other
natural gas plant
|
216.9 | 215.2 | ||||||
6,261.5 | 4,086.2 | |||||||
Less—accumulated
depreciation and amortization
|
427.2 | 382.4 | ||||||
5,834.3 | 3,703.8 | |||||||
Construction
work in progress
|
267.9 | 2,196.4 | ||||||
Property,
plant and equipment, net
|
6,102.2 | 5,900.2 | ||||||
Other
Assets:
|
||||||||
Goodwill
|
163.5 | 163.5 | ||||||
Gas
stored underground
|
129.0 | 124.8 | ||||||
Costs
recoverable from customers
|
15.3 | 15.4 | ||||||
Other
|
86.8 | 65.9 | ||||||
Total
other assets
|
394.6 | 369.6 | ||||||
Total
Assets
|
$ | 6,780.2 | $ | 6,721.6 |
March
31,
|
December
31,
|
|||||||
LIABILITIES
AND PARTNERS’ CAPITAL
|
2009
|
2008
|
||||||
Current
Liabilities:
|
||||||||
Payables:
|
||||||||
Trade
|
$ | 113.0 | $ | 216.4 | ||||
Affiliates
|
1.3 | 1.8 | ||||||
Other
|
8.0 | 7.4 | ||||||
Gas
transportation payables
|
34.8 | 11.6 | ||||||
Accrued
taxes, other
|
40.8 | 35.2 | ||||||
Accrued
interest
|
30.3 | 40.1 | ||||||
Accrued
payroll and employee benefits
|
9.6 | 16.3 | ||||||
Construction
retainage
|
69.9 | 76.3 | ||||||
Deferred
income
|
4.9 | 1.8 | ||||||
Other
current liabilities
|
40.1 | 27.1 | ||||||
Total
current liabilities
|
352.7 | 434.0 | ||||||
Long
–Term Debt
|
3,051.3 | 2,889.4 | ||||||
Other
Liabilities and Deferred Credits:
|
||||||||
Pension
liability
|
37.0 | 35.7 | ||||||
Asset
retirement obligation
|
16.7 | 18.0 | ||||||
Provision
for other asset retirement
|
47.0 | 45.6 | ||||||
Payable
to affiliate
|
20.6 | 20.6 | ||||||
Other
|
40.5 | 33.3 | ||||||
Total
other liabilities and deferred credits
|
161.8 | 153.2 | ||||||
Commitments
and Contingencies
|
||||||||
Partners’
Capital:
|
||||||||
Common
units – 154.9 million units issued and outstanding as of
March
31, 2009, and December 31, 2008
|
2,472.4 | 2,504.8 | ||||||
Class
B units – 22.9 units issued and outstanding as of
March
31, 2009, and December 31, 2008
|
692.1 | 692.8 | ||||||
General
partner
|
62.2 | 62.9 | ||||||
Accumulated
other comprehensive loss, net of tax
|
(12.3 | ) | (15.5 | ) | ||||
Total
partners’ capital
|
3,214.4 | 3,245.0 | ||||||
Total
Liabilities and Partners’ Capital
|
$ | 6,780.2 | $ | 6,721.6 |
For
the Three Months Ended
March
31,
|
||||||||
2009
|
2008
|
|||||||
Operating
Revenues:
|
||||||||
Gas
transportation
|
$ | 200.9 | $ | 176.5 | ||||
Parking
and lending
|
7.4 | 5.1 | ||||||
Gas
storage
|
13.6 | 10.7 | ||||||
Other
|
1.5 | 5.0 | ||||||
Total
operating revenues
|
223.4 | 197.3 | ||||||
Operating
Costs and Expenses:
|
||||||||
Fuel
and gas transportation
|
15.7 | 15.9 | ||||||
Operation
and maintenance
|
30.8 | 24.9 | ||||||
Administrative
and general
|
28.9 | 25.2 | ||||||
Depreciation
and amortization
|
46.4 | 27.4 | ||||||
Contract
settlement gain
|
- | (11.2 | ) | |||||
Asset
impairment
|
- | 1.4 | ||||||
Net
loss on disposal of operating assets and related contracts
|
0.9 | 0.2 | ||||||
Taxes
other than income taxes
|
22.1 | 12.0 | ||||||
Total
operating costs and expenses
|
144.8 | 95.8 | ||||||
Operating
income
|
78.6 | 101.5 | ||||||
Other
Deductions (Income):
|
||||||||
Interest
expense
|
26.6 | 19.0 | ||||||
Interest
income
|
(0.1 | ) | (1.0 | ) | ||||
Miscellaneous
other income, net
|
(0.2 | ) | (4.9 | ) | ||||
Total
other deductions
|
26.3 | 13.1 | ||||||
Income
before income taxes
|
52.3 | 88.4 | ||||||
Income
taxes
|
0.3 | 0.3 | ||||||
Net
income
|
$ | 52.0 | $ | 88.1 | ||||
Net
Income per Unit:
|
For
the Three Months Ended
March
31,
|
|||||||
2009
|
2008
|
|||||||
Basic
and diluted net income per unit:
|
||||||||
Common
units (a)
|
$ | 0.29 | $ | 0.68 | ||||
Class
B units
|
$ | 0.11 | $ | - | ||||
Subordinated
units (a)
|
$ | - | $ | 0.68 | ||||
Cash
distribution to common and subordinated units (a)
|
$ | 0.48 | $ | 0.46 | ||||
Cash
distribution to class B units
|
$ | 0.30 | $ | - | ||||
Weighted-average
number of units outstanding:
|
||||||||
Common
units (a)
|
154.9 | 90.7 | ||||||
Class
B units
|
22.9 | - | ||||||
Subordinated
units (a)
|
- | 33.1 | ||||||
(a)
All of the 33.1 million subordinated units converted to common units on a
one-for-one basis in November 2008.
|
For
the Three Months Ended
March
31,
|
||||||||
2009
|
2008
|
|||||||
OPERATING
ACTIVITIES:
|
||||||||
Net
income
|
$ | 52.0 | $ | 88.1 | ||||
Adjustments
to reconcile to cash provided by operations:
|
||||||||
Depreciation
and amortization
|
46.4 | 27.4 | ||||||
Amortization
of deferred costs
|
2.4 | 2.4 | ||||||
Amortization
of acquired executory contracts
|
- | (0.1 | ) | |||||
Asset
impairment
|
- | 1.4 | ||||||
Net
loss on disposal of operating assets and related contracts
|
0.9 | 0.2 | ||||||
Changes
in operating assets and liabilities:
|
||||||||
Trade
and other receivables
|
(9.3 | ) | 1.1 | |||||
Gas
receivables and storage assets
|
(31.9 | ) | 19.6 | |||||
Costs
recoverable from customers
|
- | (0.8 | ) | |||||
Inventories
|
(14.2 | ) | (2.4 | ) | ||||
Other
assets
|
(39.3 | ) | (8.2 | ) | ||||
Trade
and other payables
|
(4.7 | ) | (24.2 | ) | ||||
Gas
payables
|
29.0 | (15.6 | ) | |||||
Accrued
liabilities
|
(18.5 | ) | (12.5 | ) | ||||
Other
liabilities
|
15.6 | (2.1 | ) | |||||
Net
cash provided by operating activities
|
28.4 | 74.3 | ||||||
INVESTING
ACTIVITIES:
|
||||||||
Capital
expenditures
|
(301.9 | ) | (542.5 | ) | ||||
Advances
to affiliates, net
|
- | (0.3 | ) | |||||
Sales
of short-term investments
|
175.0 | - | ||||||
Net
cash used in investing activities
|
(126.9 | ) | (542.8 | ) | ||||
FINANCING
ACTIVITIES:
|
||||||||
Proceeds
from long-term debt, net of issuance costs
|
- | 247.2 | ||||||
Proceeds
from borrowings on revolving credit agreement
|
161.5 | 153.0 | ||||||
Repayment
of borrowings on revolving credit agreement
|
- | (153.0 | ) | |||||
Payments
on note payable
|
(0.3 | ) | - | |||||
Distributions
|
(85.8 | ) | (59.6 | ) | ||||
Net
cash provided by financing activities
|
75.4 | 187.6 | ||||||
Decrease
in cash and cash equivalents
|
(23.1 | ) | (280.9 | ) | ||||
Cash
and cash equivalents at beginning of period
|
137.7 | 317.3 | ||||||
Cash
and cash equivalents at end of period
|
$ | 114.6 | $ | 36.4 |
Common
Units
|
Class
B Units
|
Subordinated Units
|
General
Partner
|
Accumulated
Other Comp Income (Loss)
|
Total
Partners’ Capital
|
|||||||||||||||||||
Balance
January 1, 2008
|
$ | 1,473.9 | $ | - | $ | 291.7 | $ | 33.2 | $ | 4.2 | $ | 1,803.0 | ||||||||||||
Add
(deduct):
|
||||||||||||||||||||||||
Net
income
|
62.1 | - | 22.7 | 3.3 | - | 88.1 | ||||||||||||||||||
Distributions
paid
|
(41.7 | ) | - | (15.2 | ) | (2.7 | ) | - | (59.6 | ) | ||||||||||||||
Other
comprehensive loss
|
- | - | - | - | (26.0 | ) | (26.0 | ) | ||||||||||||||||
Balance
March 31, 2008
|
$ | 1,494.3 | $ | - | $ | 299.2 | $ | 33.8 | $ | (21.8 | ) | $ | 1,805.5 | |||||||||||
Balance
January 1, 2009
|
$ | 2,504.8 | $ | 692.8 | $ | - | $ | 62.9 | $ | (15.5 | ) | $ | 3,245.0 | |||||||||||
Add
(deduct):
|
||||||||||||||||||||||||
Net
income
|
42.0 | 6.2 | - | 3.8 | - | 52.0 | ||||||||||||||||||
Distributions
paid
|
(74.4 | ) | (6.9 | ) | - | (4.5 | ) | - | (85.8 | ) | ||||||||||||||
Other
comprehensive income
|
- | - | - | - | 3.2 | 3.2 | ||||||||||||||||||
Balance
March 31, 2009
|
$ | 2,472.4 | $ | 692.1 | $ | - | $ | 62.2 | $ | (12.3 | ) | $ | 3,214.4 |
For
the Three Months Ended March 31,
|
||||||||
2009
|
2008
|
|||||||
Net
income
|
$ | 52.0 | $ | 88.1 | ||||
Other
comprehensive income (loss):
|
||||||||
Gain
(loss) on cash flow hedges
|
8.0 | (24.4 | ) | |||||
Reclassification
adjustment transferred to Net income from cash flow hedges
|
(0.9 | ) | 0.6 | |||||
Pension
and other postretirement benefits costs
|
(3.9 | ) | (2.2 | ) | ||||
Total
comprehensive income
|
$ | 55.2 | $ | 62.1 |
Asset
Derivatives
|
Liability
Derivatives
|
|||||||||||||||||||
March
31, 2009
|
December
31, 2008
|
March
31, 2009
|
December
31, 2008
|
|||||||||||||||||
Balance
sheet location
|
Fair
Value
|
Balance sheet
location
|
Fair
Value
|
Balance
sheet location
|
Fair
Value
|
Balance
sheet
location
|
Fair
Value
|
|||||||||||||
Derivatives
designated as hedging instruments under SFAS No. 133
|
||||||||||||||||||||
Commodity
contracts
|
Other
current
assets
|
$ | 14.3 |
Other
current
assets
|
$ | 10.5 |
Other
current
liabilities
|
$ | - |
Other
current
liabilities
|
$ | 0.1 | ||||||||
Other
assets
|
5.2 |
Other
assets
|
3.7 |
Other
liabilities
|
0.3 |
Other
liabilities
|
- | |||||||||||||
$ | 19.5 | $ | 14.2 | $ | 0.3 | $ | 0.1 |
Amount
of gain/(loss) recognized in AOCI on derivatives (effective
portion)
|
Location
of gain/(loss) reclassified from AOCI into income (effective
portion)
|
Amount of gain/(loss)
reclassified from AOCI into income (effective
portion)
|
Location
of gain/(loss) recognized in income on derivative (in- effective portion
and amount excluded from effectiveness testing)
|
Amount
of gain/(loss) recognized in income on derivative (in- effective portion
and amount excluded from effectiveness testing)
|
|||||||||||||
Derivatives
in SFAS No. 133 Cash Flow Hedging Relationship
|
|||||||||||||||||
Commodity
contracts
|
$ | 8.0 |
Operating
revenues
|
$ | 1.3 | N/A | $ | - | |||||||||
Interest
rate contracts (1)
|
- |
Interest
expense
|
(0.4 | ) | N/A | - | |||||||||||
$ | 8.0 | $ | 0.9 | $ | - |
|
(1)
|
Related
to amounts deferred in AOCI from Treasury rate locks used in hedging
interest payments associated with debt offerings which were settled in
previous periods and are being amortized to earnings over the terms of
related anticipated interest payments, generally the terms of the related
debt.
|
Less
than 1 year
|
$ | 161.6 | ||
1-3
years
|
1.3 | |||
4-5
years
|
- | |||
More
than 5 years
|
- | |||
Total
|
$ | 162.9 |
|
Total
Quarterly Distribution
|
Marginal Percentage
Interest in
Distributions
|
|||||||||||||
|
Target
Amount
|
Limited
Partner
Unitholders
(1)
|
General
Partner
and
IDRs
|
||||||||||||
First
Target Distribution
|
|
up to $0.4025
|
|
98%
|
2%
|
||||||||||
Second
Target Distribution
|
|
above $0.4025 up to $0.4375
|
|
85%
|
15%
|
||||||||||
Third
Target Distribution
|
|
above
$0.4375 up to $0.5250
|
|
75%
|
25%
|
||||||||||
Thereafter
|
|
above
$0.5250
|
|
50%
|
50%
|
(1)
|
The
class B unitholders participate in distributions on a pari passu basis
with the Partnership’s common units up to $0.30 per unit per quarter. The
class B units do not participate in quarterly distributions above $0.30
per unit.
|
Total
|
Common
Units
|
Class
B Units
|
General
Partner and IDRs
|
|||||||||||||
Net
income
|
$ | 52.0 | ||||||||||||||
Declared
distribution
|
86.8 | $ | 75.1 | $ | 6.9 | $ | 4.8 | |||||||||
Assumed
allocation of undistributed net loss
|
(34.8 | ) | (29.7 | ) | (4.4 | ) | (0.7 | ) | ||||||||
Assumed
allocation of net income
|
$ | 52.0 | $ | 45.4 | $ | 2.5 | $ | 4.1 | ||||||||
Weighted
average units outstanding
|
154.9 | 22.9 | ||||||||||||||
Net
income per unit
|
$ | 0.29 | $ | 0.11 |
Total
|
Common
Units
|
Subordinated
Units
|
General
Partner and IDRs
|
|||||||||||||
Net
income
|
$ | 88.1 | ||||||||||||||
Declared
distribution
|
60.5 | $ | 42.2 | $ | 15.4 | $ | 2.9 | |||||||||
Assumed
allocation of undistributed net income
|
27.6 | 19.8 | 7.2 | 0.6 | ||||||||||||
Assumed
allocation of net income
|
$ | 88.1 | $ | 62.0 | $ | 22.6 | $ | 3.5 | ||||||||
Weighted
average units outstanding
|
90.7 | 33.1 | ||||||||||||||
Net
income per unit
|
$ | 0.68 | $ | 0.68 |
Retirement
Plans
|
PBOP
|
|||||||||||||||
For
the Three Months Ended
|
For
the Three Months Ended
|
|||||||||||||||
March
31,
|
March
31,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Service
cost
|
$ | 0.9 | $ | 0.9 | $ | 0.1 | $ | 0.2 | ||||||||
Interest
cost
|
1.7 | 1.6 | 0.8 | 0.8 | ||||||||||||
Expected
return on plan assets
|
(1.4 | ) | (1.7 | ) | (1.0 | ) | (1.3 | ) | ||||||||
Amortization
of prior service credit
|
- | - | (1.9 | ) | (1.9 | ) | ||||||||||
Amortization
of unrecognized net loss
|
0.5 | - | 0.3 | - | ||||||||||||
Regulatory
asset decrease
|
- | - | 1.4 | 1.4 | ||||||||||||
Net
periodic pension expense
|
$ | 1.7 | $ | 0.8 | $ | (0.3 | ) | $ | (0.8 | ) |
As
of
|
As
of
|
|||||||
March
31, 2009
|
December
31, 2008
|
|||||||
Gain
(loss) on cash flow hedges, net of tax
|
$ | 6.4 | $ | (0.7 | ) | |||
Deferred
components of net periodic benefit cost, net of tax
|
(18.7 | ) | (14.8 | ) | ||||
Total
Accumulated other comprehensive loss
|
$ | (12.3 | ) | $ | (15.5 | ) |
Estimated
Total
Cost
(1)
|
Cash
Invested through
March
31, 2009
|
|||||||
Southeast
Expansion
|
$ | 775 | $ | 735.5 | ||||
Gulf
Crossing Project
|
1,800 | 1,518.6 | ||||||
Fayetteville
and Greenville Laterals
|
1,290 | 803.0 | ||||||
Total
|
$ | 3,865 | $ | 3,057.1 |
(1)
|
Our
cost estimates are based on internally developed financial models and
timelines. Factors in the estimates include, but are not limited to, those
related to pipeline costs based on mileage, size and type of pipe,
materials and construction and engineering
costs.
|
Total
|
Less
than 1 Year
|
1-3
Years
|
4-5
Years
|
More
than 5 Years
|
||||||||||||||||
Principal
payments on long-term debt (1)
|
$ | 3,063.5 | $ | - | $ | - | $ | 1,428.5 | $ | 1,635.0 | ||||||||||
Interest
on long-term debt (2)
|
887.9 | 83.5 | 234.9 | 214.4 | 355.1 | |||||||||||||||
Capital
commitments (3)
|
162.9 | 161.6 | 1.3 | - | - | |||||||||||||||
Total
|
$ | 4,114.3 | $ | 245.1 | $ | 236.2 | $ | 1,642.9 | $ | 1,990.1 |
(1)
|
Includes
our senior unsecured notes, having maturity dates from 2012 to 2027 and
$953.5 million of loans outstanding under our revolving credit facility,
having a maturity date of June 29,
2012.
|
(2)
|
Interest
obligations represent interest due on our senior unsecured notes at fixed
rates. Future interest obligations under our revolving credit facility are
uncertain, due to the variable interest rate and fluctuating balances.
Based on a 0.79% weighted-average interest rate on amounts outstanding
under our revolving credit facility as of March 31, 2009, $5.6 million,
$15.1 million and $3.7 million would be due under the credit facility in
less than one year, 1-3 years, and 4-5
years.
|
(3)
|
Capital
commitments represent binding commitments under purchase orders for
materials ordered but not received and firm commitments under binding
construction service agreements existing at March 31, 2009. The amounts
shown do not reflect commitments we have made after March 31,
2009.
|
·
|
A
portion of the transportation capacity on each of our expansion project
pipelines that we expect will ultimately be available is contingent upon
our receipt of authority to operate each of these pipelines at higher
operating pressures under a special permit issued by PHMSA. To the extent
that PHMSA does not grant us authority to operate any of our expansion
pipelines under a special permit or withdraws previously granted authority
to operate under a special permit, transportation capacity made available
to the market and transportation revenues received in the future would be
reduced.
|
·
|
The
successful completion, timing, cost, scope and future financial
performance of our expansion projects could differ materially from our
expectations due to anomalies or defects in pipe segments, availability of
contractors or equipment, ground conditions, weather, difficulties or
delays in obtaining regulatory approvals or denied applications, land
owner opposition, the lack of adequate materials, labor difficulties or
shortages and numerous other factors beyond our
control.
|
·
|
We
may not complete projects, including growth or expansion projects, that we
have commenced or will commence, or we may complete projects on materially
different terms, cost or timing than anticipated and we may not be able to
achieve the intended economic or operational benefits of any such
projects, if completed.
|
·
|
Global
financial markets and economic conditions have been, and continue to be,
experiencing extraordinary disruption and volatility following adverse
changes in global capital markets. The cost of raising money in the debt
and equity capital markets and commercial credit markets has increased
substantially while the availability of funds from those markets has
diminished significantly.
|
·
|
Our
FERC gas tariffs only allow us to require limited credit support in the
event that our transportation customers are unable to pay for our
services. If any of our significant customers have credit or financial
problems which result in a delay or failure to pay for services provided
by us, or contracted for with us, or repay the gas they owe us, it could
adversely affect our business, financial condition and results of
operations.
|
·
|
The
gas transmission and storage operations of our subsidiaries are subject to
rate-making policies and actions by FERC or customers that could have an
adverse impact on the services we offer and the rates we charge and our
ability to recover the full cost of operating our pipelines, including
earning a reasonable return.
|
·
|
We
are subject to laws and regulations relating to the environment and
pipeline operations which may expose us to significant costs, liabilities
and loss of revenues. Any changes in such regulations or their application
generally or through enforcement actions could adversely affect our
business, financial condition and results of
operations.
|
·
|
Our
operations are subject to operational hazards and unforeseen interruptions
for which we may not be adequately
insured.
|
·
|
The
cost of insuring our assets may increase
dramatically.
|
·
|
Because
of the natural decline in gas production connected to our system, our
success depends on our ability to obtain access to new sources of natural
gas, which is dependent on factors beyond our control. Any decrease in
supplies of natural gas in our supply areas could adversely affect our
business, financial condition and results of
operations.
|
·
|
We
may not be able to maintain or replace expiring gas transportation and
storage contracts at favorable
rates.
|
·
|
Significant
changes in natural gas prices could affect supply and demand, reducing
system throughput and adversely affecting our
revenues.
|
March
31, 2009
|
December
31, 2008
|
|||||||
Carrying
value of debt
|
$ | 2,097.8 | $ | 2,097.4 | ||||
Fair
value of debt
|
$ | 1,781.2 | $ | 1,863.3 | ||||
100
basis point increase in interest rates and resulting debt
decrease
|
$ | 113.8 | $ | 117.1 | ||||
100
basis point decrease in interest rates and resulting debt
increase
|
$ | 122.4 | $ | 126.1 | ||||
Weighted-average
interest rate
|
5.89 | % | 5.89 | % |
Period
|
Total
number of units purchased
|
Average
price paid per unit
|
Total
number of units purchased as part of publicly announced plans or
programs
|
Maximum
number of units that may yet be purchased under the plans or
programs
|
||||||||||||
March
1, 2009 to March 31, 2009 (1)
|
1,500 | $ | 20.58 | - | - |
(1)
|
Our
general partner purchased these units and subsequently granted them to our
independent directors as part of their annual director
compensation.
|
Exhibit
Number
|
Description
|
*31.1
|
Certification
of Rolf A. Gafvert, Chief Executive Officer, pursuant to Rule 13a-14(a)
and Rule 15d-14(a).
|
|
*31.2
|
Certification
of Jamie L. Buskill, Chief Financial Officer, pursuant to Rule 13a-14(a)
and Rule 15d-14(a).
|
|
*32.1
|
Certification
of Rolf A. Gafvert, Chief Executive Officer, pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002.
|
|
*32.2
|
Certification
of Jamie L. Buskill, Chief Financial Officer, pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002.
|
|
*
Filed herewith
|
Boardwalk
Pipeline Partners, LP
|
||||
By:
Boardwalk GP, LP
|
||||
its
general partner
|
||||
By:
Boardwalk GP, LLC
|
||||
its
general partner
|
||||
Dated:
April 29, 2009
|
By:
|
/s/ Jamie L.
Buskill
|
||
Jamie
L. Buskill
|
||||
Senior
Vice President, Chief Financial Officer and
Treasurer
|