XML 26 R30.htm IDEA: XBRL DOCUMENT

Equity (Tables)

9 Months Ended

Sep. 30, 2012

Equity [Abstract]

Schedule of Changes In Partners' Capital

he summarized changes in the carrying amount of our equity are as follows (in thousands):



					Partnership
	Susser Petroleum Company LLC Predecessor				Common - Public				Common - Affiliates				Subordinated - Affiliates				Total
Balance at December 31, 2011	$	115,813			$	—			$	—			$	—			$	115,813
Predecessor income through September 24, 2012	8,420				—				—				—				8,420
Balance at September 25, 2012 (date of the IPO)	$	124,233			$	—			$	—			$	—			$	124,233
Net liabilities not assumed by SUSP	(56,163		)		—				—				—				(56,163		)
Allocation of net Parent investment to unitholders	(68,070		)		—				90				67,980				—
Proceeds from initial public offering, net of underwriters' discount	—				210,647				—				—				210,647
Offering costs	—				(4,617		)		—				—				(4,617		)
Cash distributions	—				—				(273		)		(205,757		)		(206,030		)
Non-cash stock based compensation	—				3				—				3				6
Partnership earnings September 25 through September 30, 2012	—				287				—				287				574
Balance at September 30, 2012	$	—			$	206,320			$	(183	)		$	(137,487	)		$	68,650

Schedule of Net Income Allocation By Partners

The calculation of net income allocated to the partners is as follows (in thousands, except per unit amounts):



Net Income Attributable to Susser Petroleum Partners LP Limited Partner Unit - Common Units
	Three Months Ended September 30, 2012				Nine Months Ended September 30, 2012
Distributions (a)	$	312			$	312
Undistributed earnings	(25		)		(25		)
Limited partners' interest in net income subsequent to initial public offering	$	287			$	287

Net Income Attributable to Susser Petroleum Partners LP Limited Partner Unit - Subordinated Units
	Three Months Ended September 30, 2012				Nine Months Ended September 30, 2012
Distributions (a)	$	312			$	312
Undistributed earnings	(25		)		(25		)
Limited partners' interest in net income subsequent to initial public offering	$	287			$	287

(a) Distributions declared per unit	$0.0285				$0.0285

Schedule of Incentive Distribution Rights to Limited Partners



					Marginal percentage interest in distributions
	Total quarterly distribution per unit target amount				Unitholders			SUSS
Minimum Quarterly Distribution	$	0.4375			100	%		—
First Target Distribution	Above $0.4375 up to $0.503125				100	%		—
Second Target Distribution	Above $0.503125 up to $0.546875				85	%		15	%
Third Target Distribution	Above $0.546875 up to $0.656250				75	%		25	%
Thereafter	Above $0.656250				50	%		50	%