XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Net Sales:    
Affiliate $ 32,280us-gaap_RevenueFromRelatedParties [1] $ 25,282us-gaap_RevenueFromRelatedParties [2]
Third-Party 111,232us-gaap_SalesRevenueServicesNet [1] 178,245us-gaap_SalesRevenueServicesNet [2]
Net sales 143,512us-gaap_SalesRevenueNet [1] 203,527us-gaap_SalesRevenueNet [2],[3]
Operating costs and expenses:    
Cost of goods sold 108,407us-gaap_CostOfGoodsSold [1] 172,209us-gaap_CostOfGoodsSold [2],[3]
Operating expenses 10,777us-gaap_OperatingCostsAndExpenses [1],[4] 9,496us-gaap_OperatingCostsAndExpenses [2],[3],[5]
General and administrative expenses 3,409us-gaap_SellingGeneralAndAdministrativeExpense [1] 2,663us-gaap_SellingGeneralAndAdministrativeExpense [2],[3]
Depreciation and amortization 4,500us-gaap_DepreciationAndAmortization [1] 3,477us-gaap_DepreciationAndAmortization [2],[3]
Loss on asset disposals 5us-gaap_GainLossOnDispositionOfAssets [1],[6] 0us-gaap_GainLossOnDispositionOfAssets [2],[7]
Total operating costs and expenses 127,098us-gaap_CostsAndExpenses [1] 187,845us-gaap_CostsAndExpenses [2],[3]
Operating income 16,414us-gaap_OperatingIncomeLoss [1] 15,682us-gaap_OperatingIncomeLoss [2],[3]
Interest expense, net 2,157us-gaap_InterestExpense [1] 1,983us-gaap_InterestExpense [2],[3]
Income before income tax expense 14,257us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [1] 13,699us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest [2],[3]
Income tax expense 254us-gaap_IncomeTaxExpenseBenefit [1] 147us-gaap_IncomeTaxExpenseBenefit [2],[3]
Net income 14,003us-gaap_NetIncomeLoss [1],[6] 13,552us-gaap_NetIncomeLoss [2],[3],[7]
Less: Loss attributable to Predecessors (637)dkl_NetIncomeLossAttributableToPredecessors [1] (1,120)dkl_NetIncomeLossAttributableToPredecessors [2],[3]
Net income attributable to partners 14,640dkl_NetIncomeLossAttributableToPartners [1] 14,672dkl_NetIncomeLossAttributableToPartners [2],[3]
Comprehensive income attributable to partners 14,640dkl_Comprehensiveincomeattributabletopartners [1] 14,672dkl_Comprehensiveincomeattributabletopartners [2]
Less: General partner's interest in net income, including incentive distribution rights (887)us-gaap_NetIncomeLossAllocatedToGeneralPartners [1] (293)us-gaap_NetIncomeLossAllocatedToGeneralPartners [2]
Limited partners' interest in net income $ 13,753us-gaap_NetIncomeLossAllocatedToLimitedPartners [1] $ 14,379us-gaap_NetIncomeLossAllocatedToLimitedPartners [2]
Weighted average limited partner units outstanding:    
Cash distributions per limited partner unit $ 0.530us-gaap_DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit $ 0.425us-gaap_DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
Common Units [Member]    
Net income per limited partner unit:    
Common units - (basic) $ 0.57us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[1] $ 0.60us-gaap_NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[2]
Common units - (diluted) $ 0.56us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[1] $ 0.59us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[2]
Weighted average limited partner units outstanding:    
Common units - (basic) 12,216,447us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[1] 12,152,498us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[2]
Common units - (diluted) 12,356,331us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[1] 12,281,344us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_CommonUnitsMember
[2]
Subordinated unitholders - Delek    
Net income per limited partner unit:    
Subordinated units - Delek (basic and diluted) $ 0.57us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_SubordinatedDelekMember
[1] $ 0.60us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_SubordinatedDelekMember
[2]
Weighted average limited partner units outstanding:    
Subordinated units - Delek (basic and diluted) 11,999,258dkl_WeightedAverageLimitedPartnerUnitsOutstandingSubordinatedUnitsBasicAndDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_SubordinatedDelekMember
[1] 11,999,258dkl_WeightedAverageLimitedPartnerUnitsOutstandingSubordinatedUnitsBasicAndDiluted
/ us-gaap_LimitedPartnersCapitalAccountByClassAxis
= dkl_SubordinatedDelekMember
[2]
[1] The information presented includes the results of operations of the Logistics Assets Predecessor. Prior to the El Dorado Offloading Racks Acquisition and the Tyler Crude Tank Acquisition, the Logistics Assets Predecessor did not record revenues for intercompany throughput and storage services. See Notes 1 and 2 for further discussion.
[2] Adjusted to include the historical results of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.
[3] There were no revenues or expenses associated with the Tyler Assets Predecessor included in our condensed consolidated financial statements for the three months ended March 31, 2014 as the Tyler Assets were not fully constructed and were not placed into service until January 2015.
[4] Includes operating expenses and capital spending expenditures incurred in connection with the El Dorado Offloading Racks Acquisition and the Tyler Crude Tank Acquisition for the three months ended March 31, 2015.
[5] Adjusted to include operating expenses and capital spending expenditures incurred in connection with the assets acquired in the El Dorado Offloading Racks Acquisition and the Tyler Crude Tank Acquisition for the three months ended March 31, 2014.
[6] Includes the historical cash flows of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.
[7] Adjusted to include the historical cash flows of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.