Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Business Combination, Financial Information [Table Text Block]

Consolidated Balance Sheet as of December 31, 2014



	Delek Logistics Partners, LP			El Dorado Assets Predecessor			Tyler Assets Predecessor		December 31, 2014
	(In thousands)
ASSETS
Current Assets:
Cash and cash equivalents	$	1,861		$	—		$	—	$	1,861
Accounts receivable	27,986			—			—		27,986
Inventory	10,316			—			—		10,316
Deferred tax assets	28			—			—		28
Other current assets	768			—			—		768
Total current assets	40,959			—			—		40,959
Property, plant and equipment:
Property, plant and equipment	288,045			8,267			11,776		308,088
Less: accumulated depreciation	(52,992		)	(317		)	—		(53,309		)
Property, plant and equipment, net	235,053			7,950			11,776		254,779
Goodwill	11,654			—			—		11,654
Intangible assets, net	16,520			—			—		16,520
Other non-current assets	7,374			—			—		7,374
Total assets	$	311,560		$	7,950		$	11,776	$	331,286
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	17,929		$	—		$	—	$	17,929
Accounts payable to related parties	628			—			—		628
Excise and other taxes payable	5,443			—			—		5,443
Tank inspection liabilities	2,829			—			—		2,829
Pipeline release liabilities	1,899			—			—		1,899
Accrued expenses and other current liabilities	1,588			—					1,588
Total current liabilities	30,316			—			—		30,316
Non-current liabilities:
Revolving credit facility	251,750			—			—		251,750
Asset retirement obligations	3,319			—			—		3,319
Deferred tax liabilities	231			—			—		231
Other non-current liabilities	5,889			—			—		5,889
Total non-current liabilities	261,189			—			—		261,189
Equity:
Predecessors division equity	—			7,950			11,776		19,726
Common unitholders - public (9,417,189 units issued and outstanding)	194,737			—			—		194,737
Common unitholders - Delek (2,799,258 units issued and outstanding)	(241,112		)	—			—		(241,112		)
Subordinated unitholders - Delek (11,999,258 units issued and outstanding)	73,515			—			—		73,515
General Partner unitholders - Delek (494,197 units issued and outstanding)	(7,085		)	—			—		(7,085		)
Total equity	20,055			7,950			11,776		39,781
Total liabilities and equity	$	311,560		$	7,950		$	11,776	$	331,286

Consolidated Statements of Income



	Delek Logistics Partners, LP			El Dorado Assets Predecessor			Tyler Assets Predecessor			Year Ended December 31, 2015
	(In thousands)
Net Sales	$	589,669		$	—		$	—		$	589,669
Operating costs and expenses:
Cost of goods sold	436,304			—			—			436,304
Operating expenses	44,756			167			—			44,923
General and administrative expenses	11,384			—			—			11,384
Depreciation and amortization	19,222			372			98			19,692
Loss on asset disposals	104			—			—			104
Total operating costs and expenses	511,770			539			98			512,407
Operating income (loss)	77,899			(539		)	(98		)	77,262
Interest expense, net	10,658			—			—			10,658
Loss on equity method investments	588			—			—			588
Total non-operating expenses	11,246			—			—			11,246
Income (loss) before income tax benefit	66,653			(539		)	(98		)	66,016
Income tax benefit	(195		)	—			—			(195		)
Net income (loss)	66,848			(539		)	(98		)	66,211
Less: loss attributable to Predecessors	—			(539		)	(98		)	(637		)
Net income attributable to partners	$	66,848		$	—		$	—		$	66,848



	Delek Logistics Partners, LP		El Dorado Assets Predecessor			Year Ended December 31, 2014 ⁽¹⁾
	(In thousands)
Net Sales	$	841,253	$	—		$	841,253
Operating costs and expenses:
Cost of goods sold	697,221		—			697,221
Operating expenses	38,003		679			39,465
General and administrative expenses	10,570		—			10,616
Depreciation and amortization	14,591		317			15,022
Loss on asset disposals	83		—			83
Total operating costs and expenses	760,468		996			762,407
Operating income (loss)	80,785		(996		)	78,846
Interest expense, net	8,656		—			8,656
Income (loss) before income tax expense	72,129		(996		)	70,190
Income tax expense	132		—			132
Net income (loss)	71,997		(996		)	70,058
Less: loss attributable to Predecessors	—		(996		)	(1,939		)
Net income attributable to partners	$	71,997	$	—		$	71,997



	Delek Logistics Partners, LP			El Dorado Assets Predecessor			Year Ended December 31, 2013 ⁽¹⁾
	(In thousands)
Net Sales	$	907,428		$	—		$	907,428
Operating costs and expenses:
Cost of goods sold	811,364			—			811,364
Operating expenses	35,640			263			35,903
General and administrative expenses	7,526			—			7,526
Depreciation and amortization	13,738			—			13,738
Loss on asset disposals	166			—			166
Total operating costs and expenses	868,434			263			868,697
Operating income (loss)	38,994			(263		)	38,731
Interest expense, net	4,570			—			4,570
Income (loss) before income tax expense	34,424			(263		)	34,161
Income tax expense	757			—			757
Net income (loss)	33,667			(263		)	33,404
Less: loss attributable to Predecessors	(14,163		)	(263		)	(14,426		)
Net income attributable to partners	$	47,830		$	—		$	47,830

⁽¹⁾

There were no expenses associated with the Tyler Assets Predecessor included in our consolidated financial statements for the years ended December 31, 2014 and 2013, as the Tyler Assets were not fully constructed and were not placed into service until January 2015. Additionally, prior to the Tyler Crude Tank Acquisition, the Tyler Assets Predecessor did not record revenues for intercompany storage services.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the allocation of the aggregate purchase price for each of the third party acquisitions described above (in thousands):



	FTT Assets ⁽¹⁾			Greenville-Mount Pleasant Assets ⁽²⁾		North Little Rock Terminal		Hopewell
Property, plant and equipment	$	10,790		$	4,829	$	4,990	$	3,538
Intangible assets	—			5,171		10		984
Goodwill ⁽³⁾	549			—		—		1,200
Inventory	—			1,125		—		—
Accounts Receivable	1,767			—		—		—
Accounts Payable	(1,181		)	—		—		—
Total	$	11,925		$	11,125	$	5,000	$	5,722


⁽¹⁾	During the fourth quarter of 2015, we finalized our purchase price allocation and adjusted certain of the acquisition-date fair values previously disclosed in connection with working capital adjustments and an additional $0.4 million of consideration paid for additional assets.


⁽²⁾	During the third quarter of 2015, we finalized our purchase price allocation and adjusted certain of the acquisition-date fair values previously disclosed.


⁽³⁾	All goodwill is expected to be deductible for tax purposes.

Business Acquisition, Pro Forma Information [Table Text Block]

Third Parties

Below are the unaudited pro forma consolidated results of operations of the Partnership for the years ended December 31, 2014 and 2013, as if our 2014 acquisitions had occurred on January 1, 2013 (in thousands):



	Year Ended December 31, 2014				Year Ended December 31, 2013
	As Reported		Pro Forma		As Reported		Pro Forma
FTT Assets:
Net Sales	$	841,253	$	854,842	$	907,428	$	921,017
Net income	$	70,058	$	70,824	$	33,404	$	34,170
Greenville-Mount Pleasant Assets:
Net Sales	$	841,253	$	841,943	$	907,428	$	908,118
Net income	$	70,058	$	69,621	$	33,404	$	32,967

Below are the unaudited pro forma consolidated results of operations of the Partnership for the year ended December 31, 2013, as if our 2013 acquisitions had occurred on January 1, 2012 (in thousands):



	Year Ended December 31, 2013
	As Reported		Pro Forma
North Little Rock Terminal:
Net Sales	$	907,428	$	908,867
Net income	$	33,404	$	34,695
Hopewell:
Net Sales	$	907,428	$	908,382
Net income	$	33,404	$	33,718

The following amounts associated with the El Dorado Assets and the Tyler Assets subsequent to March 31, 2015, are included in the consolidated statements of income and comprehensive income of the Partnership (in thousands):



	Year Ended
	December 31, 2015
El Dorado Assets
Total operating revenues	$	4,449
Net income attributable to the Partnership	$	3,277
Costs associated with the acquisition	$	235

Tyler Assets
Total operating revenues	$	1,620
Net income attributable to the Partnership	$	1,035
Costs associated with the acquisition	$	240