XML 78 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows ( Unaudited) - Scenario, Unspecified [Domain] - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
 [1]
Jun. 30, 2014
 [3]
Cash flows from operating activities:    
Net income $ 32,314 [2] $ 35,040 [4],[5]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,244 7,100
Amortization of unfavorable contract liability to revenue 0 (1,334)
Amortization of deferred financing costs 730 634
Accretion of asset retirement obligations 124 209
Deferred income taxes 66 52
Loss on equity method investments 149 [2] 0 [4]
(Gain) loss on asset disposals (18) [2] 74 [4],[5]
Unit-based compensation expense 194 121
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (11,131) (8,975)
Inventories and other current assets 6,291 (7,779)
Accounts payable and other current liabilities 192 18,872
Accounts payable to related parties 8,219 1,083
Non-current assets and liabilities, net 186 (649)
Net cash provided by operating activities 46,560 44,448
Cash flows from investing activities:    
Business combinations (400) 0
Purchases of property, plant and equipment [6],[7] (13,535) (4,200)
Proceeds from sales of property, plant and equipment 1,183 0
Equity method investments (14,789) 0
Net cash used in investing activities (27,541) (4,200)
Cash flows from financing activities:    
Proceeds from issuance of additional units to maintain 2% General Partner interest 31 22
Distributions to general partner (1,574) (414)
Distributions to common unitholders - public (9,801) (7,856)
Distributions to common unitholders - Delek (2,911) (2,352)
Distributions to subordinated unitholders (12,479) (10,080)
Distributions to Delek for acquisitions (61,890) (95,900)
Proceeds from revolving credit facility 203,514 283,100
Payments of revolving credit facility (138,364) (208,900)
Predecessor division equity contribution 115 3,625
Reimbursement of capital expenditures by Sponsor 2,603 0
Net cash used in financing activities (20,756) (38,755)
Net (decrease) increase in cash and cash equivalents (1,737) 1,493
Cash and cash equivalents at the beginning of the period 1,861 [8] 924
Cash and cash equivalents at the end of the period 124 2,417
Cash paid during the period for:    
Interest 3,863 3,508
Income taxes 5 18
Non-cash investing activities:    
Equity method investments 3,832 0
Non-cash financing activities:    
Sponsor contribution of fixed assets $ 418 $ 706
[1] Includes the historical cash flows 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] Adjusted to include the historical cash flows of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.
[4] Adjusted to include the historical results of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.
[5] 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.
[6] 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.
[7] 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.
[8] Adjusted to include the historical balances of the Logistics Assets Predecessor. See Notes 1 and 2 for further discussion.