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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Tyler and El Dorado Terminal and Tank Assets [Member]

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

The following amounts associated with the El Dorado Terminal and Tanks Assets and the Tyler Terminal and Tank Assets, subsequent to each respective acquisition date, are included in the condensed consolidated statements of operations of the Partnership (in thousands):

		Three Months Ended				Nine Months Ended
		September 30, 2014				September 30, 2014
Tyler Terminal and Tank Assets:
Total operating revenues		$	4,486			$	13,488
Net income attributable to the Partnership		$	2,341			$	7,625
El Dorado Terminal and Tank Assets:
Total operating revenues		$	4,471			$	11,326
Net income attributable to the Partnership		$	3,021			$	6,962
Costs associated with the acquisition		$	—			$	186

Business Combination, Financial Information [Table Text Block]

The tables on the following page present our results of operations, the effect of including the results of the El Dorado Terminal and Tank Assets and the Tyler Terminal and Tank Assets and the adjusted total amounts included in our condensed consolidated financial statements.

Condensed Combined Balance Sheet as of December 31, 2013

		Delek Logistics				El Dorado Terminal and Tank Assets
		Partners, LP				(El Dorado Predecessor)				December 31, 2013
		(In thousands)
ASSETS
Current Assets:
Cash and cash equivalents		$	924			$	—			$	924
Accounts receivable		28,976				—				28,976
Inventory		17,512				—				17,512
Deferred tax assets		12				—				12
Other current assets		341				—				341
Total current assets		47,765				—				47,765
Property, plant and equipment:
Property, plant and equipment		235,588				29,800				265,388
Less: accumulated depreciation		(36,306		)		(3,260		)		(39,566		)
Property, plant and equipment, net		199,282				26,540				225,822
Goodwill		10,454				—				10,454
Intangible assets, net		12,258				—				12,258
Other non-current assets		5,045				—				5,045
Total assets		$	274,804			$	26,540			$	301,344
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	26,045			$	—			$	26,045
Accounts payable to related parties		1,513				—				1,513
Fuel and other taxes payable		5,700				—				5,700
Accrued expenses and other current liabilities		5,776				675				6,451
Total current liabilities		39,034				675				39,709
Non-current liabilities:
Revolving credit facility		164,800				—				164,800
Asset retirement obligations		2,993				94				3,087
Deferred tax liabilities		324				—				324
Other non-current liabilities		5,612				610				6,222
Total non-current liabilities		173,729				704				174,433
Equity:
Predecessors division equity		—				25,161				25,161
Common unitholders - public (9,353,240 units issued and outstanding)		183,839				—				183,839
Common unitholders - Delek (2,799,258 units issued and outstanding)		(176,680		)		—				(176,680		)
Subordinated unitholders - Delek (11,999,258 units issued and outstanding)		59,386				—				59,386
General Partner unitholders - Delek (492,893 units issued and outstanding)		(4,504		)		—				(4,504		)
Total equity		62,041				25,161				87,202
Total liabilities and equity		$	274,804			$	26,540			$	301,344

Condensed Combined Statements of Operations

						El Dorado Terminal and Tank Assets
		Delek Logistics Partners, LP				(El Dorado Predecessor)				Nine Months Ended September 30, 2014
		(In thousands)
Net sales		$	667,906			$	—			$	667,906
Operating costs and expenses:
Cost of goods sold		562,916				—				562,916
Operating expenses		28,293				783				29,076
General and administrative expenses		7,312				46				7,358
Depreciation and amortization		10,644				114				10,758
Loss on asset disposals		74				—				74
Total operating costs and expenses		609,239				943				610,182
Operating income (loss)		58,667				(943		)		57,724
Interest expense, net		6,551				—				6,551
Net income (loss) before income tax expense		52,116				(943		)		51,173
Income tax expense		605				—				605
Net income (loss)		51,511				(943		)		50,568
Less: Loss attributable to Predecessors		—				(943		)		(943		)
Net income attributable to partners		$	51,511			$	—			$	51,511

						Tyler Terminal and Tank Assets				El Dorado Terminal and Tank Assets
		Delek Logistics Partners, LP				(Tyler Predecessor)				(El Dorado Predecessor)				Three Months Ended September 30, 2013
		(In thousands)
Net Sales		$	243,295			$	—			$	—			$	243,295
Operating costs and expenses:
Cost of goods sold		218,222				—				—				218,222
Operating expenses		6,645				829				1,499				8,973
General and administrative expenses		1,782				86				105				1,973
Depreciation and amortization		2,600				244				297				3,141
Total operating costs and expenses		229,249				1,159				1,901				232,309
Operating income (loss)		14,046				(1,159		)		(1,901		)		10,986
Interest expense, net		1,194				—				—				1,194
Net income (loss) before income tax expense		12,852				(1,159		)		(1,901		)		9,792
Income tax expense		307				—				—				307
Net income (loss)		12,545				(1,159		)		(1,901		)		9,485
Less: Loss attributable to Predecessors		—				(1,159		)		(1,901		)		(3,060		)
Net income attributable to partners		$	12,545			$	—			$	—			$	12,545

						Tyler Terminal and Tank Assets				El Dorado Terminal and Tank Assets
		Delek Logistics Partners, LP				(Tyler Predecessor)				(El Dorado Predecessor)				Nine Months Ended September 30, 2013
		(In thousands)
Net Sales		$	684,331			$	—			$	—			$	684,331
Operating costs and expenses:
Cost of goods sold		614,048				—				—				614,048
Operating expenses		18,574				4,501				4,907				27,982
General and administrative expenses		4,570				602				524				5,696
Depreciation and amortization		7,324				1,750				892				9,966
Total operating costs and expenses		644,516				6,853				6,323				657,692
Operating income (loss)		39,815				(6,853		)		(6,323		)		26,639
Interest expense, net		2,763				—				—				2,763
Net income (loss) before income tax expense		37,052				(6,853		)		(6,323		)		23,876
Income tax expense		547				—				—				547
Net income (loss)		36,505				(6,853		)		(6,323		)		23,329
Less: Loss attributable to Predecessors		—				(6,853		)		(6,323		)		(13,176		)
Net income attributable to partners		$	36,505			$	—			$	—			$	36,505

North Little Rock Terminal [Member]

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

Below are the unaudited pro forma consolidated results of operations of the Partnership for the three and nine months ended September 30, 2013, as if the acquisition had occurred on January 1, 2013 (in thousands):

		Three Months Ended				Nine Months Ended
		September 30, 2013				September 30, 2013
Net sales		$	243,673			$	685,432
Net income		$	9,687			$	23,953

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

During the second quarter of 2014, we finalized our purchase price allocation and adjusted certain of the acquisition-date fair values previously disclosed. The final allocation of the aggregate purchase price of the North Little Rock Terminal as of September 30, 2014 is summarized as follows (in thousands):

Property, plant and equipment	$	4,990
Intangible assets	10
Total	$	5,000

Hopewell [Member]

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

Below are the unaudited pro forma consolidated results of operations of the Partnership for the three and nine months ended September 30, 2013, as if the acquisition had occurred on January 1, 2013 (in thousands):

		Three Months Ended				Nine Months Ended
		September 30, 2013				September 30, 2013
Net sales		$	243,295			$	684,334
Net income		$	9,459			$	23,047

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The final allocation of the aggregate purchase price of the Hopewell Pipeline as of September 30, 2014 is summarized as follows (in thousands):

Property, plant and equipment	$	3,538
Intangible assets	984
Goodwill	1,200
Total	$	5,722

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Tabular disclosure of the combined results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

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-Subparagraph (h)(2)-(3)

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

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