BASIS OF CONSOLIDATION AND PRESENTATION

 

The accompanying consolidated financial statements and related notes present and discuss the Partnership’s consolidated financial position as of December 31, 2015 and 2016, and the consolidated results of the Partnership’s operations, cash flows and changes in partners’ capital for the years ended December 31, 2014, 2015 and 2016. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).  All significant intercompany accounts and transactions have been eliminated in the preparation of the accompanying consolidated financial statements. Certain reclassifications have been made in the consolidated financial statements for the years ended December 31, 2014 and 2015 to conform to the 2016 financial statement presentation. These were reclassifications of product sales from third party service revenue and cost of product sales from operating expenses. The reclassifications have no impact on net income.