Equity (Tables)

9 Months Ended

Sep. 30, 2014

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



	Equity of Predecessors			Common - Public			Common - Delek			Subordinated			General Partner			Total
Balance at December 31, 2013	$	25,161		$	183,839		$	(176,680	)	$	59,386		$	(4,504	)	$	87,202
Sponsor contributions of equity to the El Dorado Predecessor	1,006			—			—			—			—			1,006
Loss attributable to the El Dorado Predecessor	(943		)	—			—			—			—			(943		)
Allocation of net assets acquired by the unitholders	(25,224		)	—			24,720			—			504			—
Cash distributions ⁽¹⁾	—			(12,391		)	(97,663		)	(15,779		)	(2,755		)	(128,588		)
Sponsorship contribution of fixed assets	—			—			855			—			18			873
Net income attributable to partners	—			19,579			5,845			25,057			1,030			51,511
Unit-based compensation	—			452			135			579			(970		)	196
Other	—			—			—			—			22			22
Balance at September 30, 2014	$	—		$	191,479		$	(242,788	)	$	69,243		$	(6,655	)	$	11,279

⁽¹⁾ Cash distributions include $95.9 million in cash payments for the El Dorado 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 basis instead of fair value. Additionally, any excess of cash paid over the historical book basis of the assets acquired from Delek is recorded within equity. As a result of the El Dorado Acquisition, our equity balance decreased $70.7 million during the nine months ended September 30, 2014. Distributions also include $0.1 million related to distribution equivalents on vested phantom units.

Schedule of Allocation of Net Income to General Partner [Table Text Block]

The following table presents the allocation of the general partner's interest in net income (in thousands, except percentage of ownership interest):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net income attributable to partners	$	15,085		$	12,545		$	51,511		$	36,505
Less: General partner's IDR's	(302		)	—			(491		)	—
Net income available to partners	$	14,783		$	12,545		$	51,020		$	36,505
General partner's ownership interest	2.0		%	2.0		%	2.0		%	2.0		%
General partner's allocated interest in net income	$	296		$	250		$	1,020		$	729
General partner's IDRs	302			—			491			—
Total general partner's interest in net income	$	598		$	250		$	1,511		$	729

Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]

The following table illustrates the percentage allocations of available cash from operating surplus between our unitholders and our general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of our general partner and our unitholders in any available cash from operating surplus that 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 our general partner 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 our general partner include its 2.0% general partner interest and assume that (i) our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (ii) our general partner has not transferred its incentive distribution rights, and (iii) there are no arrearages on common units.



		Target Quarterly Distribution per Unit		Marginal Percentage Interest in Distributions
		Target Amount		Unitholders		General Partner
Minimum Quarterly Distribution		$	0.37500	98.0	%	2.0	%
First Target Distribution	above	$	0.37500	98.0	%	2.0	%
	up to	$	0.43125
Second Target Distribution	above	$	0.43125	85.0	%	15.0	%
	up to	$	0.46875
Third Target Distribution	above	$	0.46875	75.0	%	25.0	%
	up to	$	0.56250
Thereafter	thereafter	$	0.56250	50.0	%	50.0	%

Distributions Made to Limited Partner, by Distribution [Table Text Block]

The table below summarizes the quarterly distributions related to our quarterly financial results:



Quarter Ended	Total Quarterly Distribution Per Limited Partner Unit		Total Quarterly Distribution Per Limited Partner Unit, Annualized		Total Cash Distribution, including general partner IDRs (in thousands)		Date of Distribution	Unitholders Record Date
December 31, 2013	$	0.415	$	1.66	$	10,228	February 13, 2014	February 4, 2014
March 31, 2014	$	0.425	$	1.70	$	10,474	May 14, 2014	May 6, 2014
June 30, 2014	$	0.475	$	1.90	$	11,910	August 14, 2014	August 7, 2014
September 30, 2014	$	0.490	$	1.96	$	12,394	November 14, 2014 ⁽¹⁾	November 6, 2014

⁽¹⁾ Expected date of distribution.

The allocation of total quarterly cash distributions expected to be made to general and limited partners for the three and nine months ended September 30, 2014 is set forth in the table below. Our distributions earned with respect to a given period are declared subsequent to quarter end. Therefore, the table below presents 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,
	2014		2013		2014		2013
General partner's distributions:
General partner's distributions	$	242	$	198	$	686	$	580
General partner's incentive distribution rights	302		—		491		—
Total general partner's distributions	544		198		1,177		580

Limited partners' distributions:
Common	5,970		4,875		16,922		14,249
Subordinated	5,880		4,860		16,679		14,219
Total limited partners' distributions	11,850		9,735		33,601		28,468
Total cash distributions	$	12,394	$	9,933	$	34,778	$	29,048

Cash distributions per limited partner unit	$	0.490	$	0.405	$	1.390	$	1.185

- Definition

Tabular disclosure of incentive payments in cash or stock or units paid during the accounting period to managing members or general partners of a limited liability corporation or limited partnership, as governed by the operating or partnership agreement. Disclosure may include identification of recipient, payments made, minimum distribution level, date payments are received, distributions per unit and per year, subsequent distribution amount and date.

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