Equity

As of September 30, 2013, SUSS owned 79,308 common units and 10,939,436 subordinated units, which together constitute a 50.2% ownership interest in us. During the third quarter and in conjunction with the GFI Contribution and related transfer, we issued 64,872 common units to SUSS. As of September 30, 2013 the public owned 10,932,834 units.

Allocations of Net Income

Our partnership agreement contains provisions for the allocation of net income and loss to the unitholders. For purposes of maintaining partner capital accounts, the partnership agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect, if any, to priority income allocations in an amount equal to incentive cash distributions allocated 100% to SUSS.

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 Units - Common Units
	Three Months Ended						Nine Months Ended
	September 30, 2012			September 30, 2013			September 30, 2012			September 30, 2013
Distributions (a)	$	312		$	5,165		$	312		$	14,904
Distributions in excess of income	(25		)	(361		)	(25		)	(1,146		)
Limited partners' interest in net income	$	287		$	4,804		$	287		$	13,758

Net Income Attributable to Susser Petroleum Partners LP Limited Partner Units - Subordinated Units
	Three Months Ended						Nine Months Ended
	September 30, 2012			September 30, 2013			September 30, 2012			September 30, 2013
Distributions (a)	$	312		$	5,124		$	312		$	14,863
Distributions in excess of income	(25		)	(331		)	(25		)	(1,116		)
Limited partners' interest in net income	$	287		$	4,793		$	287		$	13,747

(a) Distributions declared per unit to unitholders as of record date	$0.0285			$0.4687			$0.0285			$1.359

Incentive Distribution Rights

The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and SUSS (in its capacity as the holder of our incentive distribution rights or "IDRs") based on the specified target distribution levels. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of SUSS and the unitholders in any available cash from operating surplus we distribute up to and including the corresponding amount in the column “total quarterly distribution per unit target amount”. The percentage interests shown for our unitholders and SUSS for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for SUSS assume that there are no arrearages on common units and that SUSS continues to own all of the IDRs.



		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	%

Cash Distributions

Our partnership agreement, as amended, sets forth the calculation to be used to determine the amount and priority of cash distributions that the common and subordinated unitholders will receive. On August 5, 2013, we declared a quarterly cash distribution, based on the results for the three months ended June 30, 2013, totaling $9.9 million, or $0.4528 per unit. The distribution was paid on August 29, 2013 to unitholders of record on August 19, 2013 bringing the total paid for the year to $29.1 million. On November 4, 2013, we declared a quarterly distribution totaling $10.3 million, based on the results for the three months ended September 30, 2013, or $0.4687 per unit. The distribution will be paid on November 29, 2013 to unitholders of record on November 19, 2013.