Net Income Per Unit (Tables)

9 Months Ended

Sep. 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. The calculation of net income per unit is as follows (dollars in thousands, except per unit amounts):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Net Income	$	12,545	$	—	$	36,505	$	—
Less: General partner's distribution	198		—		580		—
Less: Limited partners' distribution	4,875		—		14,249		—
Less: Subordinated partner's distribution	4,860		—		14,219		—
Earnings in excess of distributions	$	2,612	$	—	$	7,457	$	—

General partner's earnings:
Distributions	$	198	—		$	580	—
Allocation of earnings in excess of distributions	52		—		149		—
Total general partner's earnings	$	250	$	—	$	729	$	—

Limited partners' earnings on common units:
Distributions	$	4,875	—		$	14,249	—
Allocation of earnings in excess of distributions	1,282		—		3,658		—
Total limited partners' earnings on common units	$	6,157	$	—	$	17,907	$	—

Limited partners' earnings on subordinated units:
Distributions	$	4,860	—		$	14,219	—
Allocation of earnings in excess of distributions	1,278		—		3,650		—
Total limited partner's earnings on subordinated units	$	6,138	$	—	$	17,869	$	—

Weighted average limited partner units outstanding:
Common units - (basic)	12,036,821				12,014,445
Common units - (diluted)	12,188,342				12,152,657
Subordinated units - Delek (basic and diluted)	11,999,258				11,999,258

Net income per limited partner unit:
Common - (basic)	$	0.51			$	1.49
Common - (diluted)	$	0.51			$	1.48
Subordinated - (basic and diluted)	$	0.51			$	1.49