Equity

We had 9,237,563 common limited partner units held by the public outstanding as of June 30, 2013. Additionally, as of June 30, 2013, Delek owned a 60.3% limited partner interest in us, consisting of 2,799,258 common limited partner units and 11,999,258 subordinated limited partner units as well as a 98.6% interest in our general partner, which owns the entire 2.0% general partner interest consisting of 489,766 general partner units. In accordance with our partnership agreement, Delek's subordinated units will convert to common units once specified distribution targets and other requirements have been met.

Equity Activity

The summarized changes in the carrying amount of our equity are as follows:



	Common - public			Common - Delek			Subordinated			General Partner			Total
Balance at December 31, 2012	$	178,728		$	(127,129	)	$	52,875		$	(49	)	$	104,425
Cash Distributions	(5,602		)	(1,705		)	(7,310		)	(298		)	(14,915		)
Partnership Earnings	9,013			2,737			11,732			478			23,960
Unit-based compensation	924			—			—			(812		)	112
Balance at June 30, 2013	$	183,063		$	(126,097	)	$	57,297		$	(681	)	$	113,582

Allocations of Net Income

Our partnership agreement contains provisions for the allocation of net income and loss to the unitholders and our general partner. 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 our general partner.

Cash Distributions

Our first amended and restated partnership agreement sets forth the calculation to be used to determine the amount and priority of cash distributions that the common and subordinated unitholders and general partner will receive. Our distributions are declared subsequent to quarter end. The table below summarizes the quarterly distributions related to our quarterly financial results:



Quarter Ended	Total Quarterly Distribution Per Unit	Total Quarterly Distribution Per Unit, Annualized	Total Cash Distribution (in thousands)	Date of Distribution	Unitholders Record Date
December 31, 2012	$0.224	$0.896	$5,486	February 14, 2013	February 6, 2013
March 31, 2013	$0.385	$1.54	$9,429	May 15, 2013	May 7, 2013
June 30, 2013	$0.395	$1.58	$9,688	August 13, 2013	August 6, 2013

The allocation of total quarterly cash distributions expected to be made to general and limited partners is as follows for the three and six months ended June 30, 2013. Our distributions are declared subsequent to quarter end. Therefore, the table represents total cash distributions applicable to the period in which the distributions are earned (in thousands, except per unit amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
General partner's interest	$	193	$	—	$	382	$	—

Limited partners' distribution:
Common	$	4,755	$	—	$	9,375	$	—
Subordinated	4,740		—		9,360		—
Total cash distributions	$	9,688	$	—	$	19,117	$	—

Cash distributions per unit	$	0.395			$	0.780