XML 22 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net Sales:    
Affiliate $ 38,760 $ 32,280
Third-Party 65,296 111,232
Net sales 104,056 143,512
Operating costs and expenses:    
Cost of goods sold 66,753 108,407
Operating expenses 10,464 10,777
General and administrative expenses 2,913 3,409
Depreciation and amortization 4,996 4,500
(Gain) loss on asset disposals (44) 5
Total operating costs and expenses 85,082 127,098
Operating income 18,974 16,414
Interest expense, net 3,199 2,157
Loss on equity method investments 229 0
Total non-operating expenses 3,428 2,157
Income before income tax expense 15,546 14,257
Income tax expense 98 254
Net income 15,448 14,003
Less: loss attributable to the Logistics Assets Predecessor 0 (637)
Net income attributable to partners 15,448 14,640
Comprehensive income attributable to partners 15,448 14,640
Less: General partner's interest in net income, including incentive distribution rights 2,253 887
Limited partners' interest in net income $ 13,195 $ 13,753
Weighted average limited partner units outstanding:    
Cash distributions per limited partner unit $ 0.610 $ 0.530
Common Units [Member]    
Net income per limited partner unit:    
Common units - (basic) [1] 0.54 0.57
Common units - (diluted) [1] $ 0.54 $ 0.56
Weighted average limited partner units outstanding:    
Common units - (basic) [1] 17,024,490 12,216,447
Common units - (diluted) [1] 17,115,198 12,356,331
Subordinated unitholders - Delek    
Net income per limited partner unit:    
Subordinated units - Delek (basic and diluted) [1] $ 0.54 $ 0.57
Weighted average limited partner units outstanding:    
Subordinated units - Delek (basic and diluted) [1] 7,252,299 11,999,258
[1] We base our calculation of net income per unit on the weighted-average number of common and subordinated limited partner units outstanding during the period. The weighted-average number of common and subordinated units reflect the conversion of the subordinated units to common units on February 25, 2016. See Notes 7 and 8 for further discussion