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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
[1]
Sep. 30, 2015
[2]
Sep. 30, 2014
[1]
Net Sales:        
Affiliate $ 41,824 $ 29,682 $ 113,975 $ 83,855
Third-Party 123,268 198,354 366,763 584,051
Net sales 165,092 228,036 [3] 480,738 667,906 [3]
Operating costs and expenses:        
Cost of goods sold 124,385 194,133 [3] 365,286 562,916 [3]
Operating expenses [4],[5] 11,616 10,361 [3] 33,191 29,576 [3]
General and administrative expenses 2,703 2,453 [3] 9,094 7,358 [3]
Depreciation and amortization 4,541 3,847 [3] 13,785 10,947 [3]
(Gain) loss on asset disposals 0 0 (18) [6] 74 [3],[7]
Total operating costs and expenses 143,245 210,794 [3] 421,338 610,871 [3]
Operating income 21,847 17,242 [3] 59,400 57,035 [3]
Interest expense, net 2,843 2,226 [3] 7,616 6,551 [3]
Loss on equity method investments 293 0 442 [6] 0 [7]
Total non-operating expenses 3,136 2,226 8,058 6,551
Income before income tax expense 18,711 15,016 [3] 51,342 50,484 [3]
Income tax expense 109 177 [3] 426 605 [3]
Net income 18,602 14,839 [3] 50,916 [6] 49,879 [3],[7]
Less: loss attributable to Predecessors 0 (246) [3] (637) (1,632) [3]
Net income attributable to partners 18,602 15,085 [3] 51,553 51,511 [3]
Comprehensive income attributable to partners 18,602 15,085 51,553 51,511
Less: General partner's interest in net income, including incentive distribution rights (1,383) (598) (3,379) (1,511)
Limited partners' interest in net income $ 17,219 $ 14,487 $ 48,174 $ 50,000
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit $ 0.570 $ 0.490 $ 1.650 $ 1.390
Common Units [Member]        
Net income per limited partner unit:        
Common units - (basic) 0.71 0.60 1.99 2.07
Common units - (diluted) $ 0.70 $ 0.59 $ 1.97 $ 2.05
Weighted average limited partner units outstanding:        
Common units - (basic) 12,250,847 12,183,847 12,230,560 12,165,474
Common units - (diluted) 12,369,777 12,327,321 12,362,340 12,299,963
Subordinated unitholders - Delek        
Net income per limited partner unit:        
Subordinated units - Delek (basic and diluted) $ 0.71 $ 0.60 $ 1.99 $ 2.07
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 expenses associated with the Tyler Assets Predecessor included in our condensed consolidated financial statements for the three and nine months ended September 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 three and nine months ended September 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 nine months ended September 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.