Equity

We had 9,237,563 common limited partner units held by the public outstanding as of September 30, 2013. Additionally, as of September 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 490,532 general partner units. In accordance with our partnership agreement, Delek's subordinated units may 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:



	Equity of Predecessors			Common - public			Common - Delek			Subordinated			General Partner			Total
Balance at December 31, 2012	$	35,590		$	178,728		$	(127,129	)	$	52,875		$	(49	)	$	140,015
Income attributable to Predecessors	(6,853		)	—			—			—			—			(6,853		)
Sponsor contributions of equity to the Predecessors	9,317			—			—			—			—			9,317
Liabilities not assumed by the Partnership	213			—			—			—			—			213
Allocation of net assets acquired by the unitholders ⁽¹⁾	(38,267		)	—			37,502			—			765			—
Cash Distributions ⁽¹⁾	—			(9,252		)	(95,714		)	(12,047		)	(2,388		)	(119,401		)
Sponsor contribution of fixed assets	—			—			101			—			4			105
Partnership Earnings	—			13,738			4,169			17,869			729			36,505
Unit-based compensation	—			1,442			—			—			(1,263		)	179
Balance at September 30, 2013	$	—		$	184,656		$	(181,071	)	$	58,697		$	(2,202	)	$	60,080

⁽¹⁾ Cash distributions include $94.8 million in cash payments for the Tyler Acquisition. As an entity under common control with Delek, we record the assets that we acquire from Delek on our balance sheet at Delek's historical book value instead of fair value. Additionally, any excess of cash paid over the historical book value of the assets acquired from Delek is recorded within equity. As a result of the Tyler Acquisition, our equity balance decreased $56.5 million from December 31, 2012 to September 30, 2013.

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 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 ⁽¹⁾	$	0.224	$	0.90	$	5,486	February 14, 2013	February 6, 2013
March 31, 2013	$	0.385	$	1.54	$	9,428	May 15, 2013	May 7, 2013
June 30, 2013	$	0.395	$	1.58	$	9,687	August 13, 2013	August 6, 2013
September 30, 2013 ⁽²⁾	$	0.405	$	1.62	$	9,933	November 14, 2013	November 7, 2013

⁽¹⁾Represents the period from November 7, 2012, the date of the Offering, to December 31, 2012

⁽²⁾ Declared on October 25, 2013.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
General partner's interest	$	198	$	—	$	580	$	—

Limited partners' distribution:
Common	4,875		$	—	14,249		$	—
Subordinated	4,860		—		14,219		—
Total cash distributions	$	9,933	$	—	$	29,048	$	—

Cash distributions per unit	$	0.405			$	1.185