XML 59 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - Scenario, Unspecified [Domain] - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
 [1]
Jun. 30, 2015
 [2]
Jun. 30, 2014
 [1]
Net Sales:        
Affiliate $ 39,871 $ 28,893 $ 72,151 $ 54,175
Third-Party 132,263 207,450 243,495 385,695
Net sales 172,134 236,343 [3] 315,646 439,870 [3]
Operating costs and expenses:        
Cost of goods sold 132,494 196,574 [3] 240,901 368,783 [3]
Operating expenses [4],[5] 10,798 9,719 [3] 21,575 19,215 [3]
General and administrative expenses 2,982 2,242 [3] 6,391 4,905 [3]
Depreciation and amortization 4,744 3,623 [3] 9,244 7,100 [3]
(Gain) loss on asset disposals (23) 74 (18) [6] 74 [3],[7]
Total operating costs and expenses 150,995 212,232 [3] 278,093 400,077 [3]
Operating income 21,139 24,111 [3] 37,553 39,793 [3]
Interest expense, net 2,616 2,342 [3] 4,773 4,325 [3]
Loss on equity method investments 149 0 149 [6] 0 [7]
Total non-operating expenses 2,765 2,342 4,922 4,325
Income before income tax expense 18,374 21,769 [3] 32,631 35,468 [3]
Income tax expense 63 281 [3] 317 428 [3]
Net income 18,311 21,488 [3] 32,314 [6] 35,040 [3],[7]
Less: loss attributable to Predecessors 0 (266) [3] (637) (1,386) [3]
Net income attributable to partners 18,311 21,754 [3] 32,951 36,426 [3]
Comprehensive income attributable to partners 18,311 21,754 32,951 36,426
Less: General partner's interest in net income, including incentive distribution rights (1,109) (620) (1,996) (914)
Limited partners' interest in net income $ 17,202 $ 21,134 $ 30,955 $ 35,512
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit $ 0.550 $ 0.475 $ 1.080 $ 0.900
Common Units [Member]        
Net income per limited partner unit:        
Common units - (basic) 0.71 [2] 0.88 1.28 1.47
Common units - (diluted) $ 0.70 [2] $ 0.87 $ 1.27 $ 1.46
Weighted average limited partner units outstanding:        
Common units - (basic) 12,224,007 [2] 12,159,732 12,220,248 12,156,135
Common units - (diluted) 12,360,519 [2] 12,291,273 12,350,621 12,281,598
Subordinated unitholders - Delek        
Net income per limited partner unit:        
Subordinated units - Delek (basic and diluted) $ 0.71 $ 0.87 $ 1.28 $ 1.47
Weighted average limited partner units outstanding:        
Subordinated units - Delek (basic and diluted) 11,999,258 11,999,258 11,999,258 11,999,258
[1] Adjusted to include the historical results of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.
[2] The information presented includes the results of operations 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 and six months ended June 30, 2014 as the Tyler Assets were not fully constructed and were not placed into service until January 2015.
[4] 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 six months ended June 30, 2014.
[5] 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 six months ended June 30, 2015.
[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.