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Subsequent Events | 12 Months Ended
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Dec. 31, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Distribution Declaration On January 23, 2018, our general partner's board of directors declared a quarterly cash distribution of $0.725 per share, paid on February 12, 2018, to unitholders of record on February 2, 2018. Big Spring Asset Dropdown On February 26, 2018, a definitive agreement was entered into between the Partnership and Delek for the Partnership to acquire certain logistics assets primarily located adjacent to Delek's Big Spring, Texas refinery (“Big Spring Refinery”), which are discussed in more detail below (“Big Spring Logistics Assets”). In addition, the parties entered into a new wholesale marketing agreement, whereby the Partnership will market certain finished products produced at the Big Spring refinery to various branded and unbranded customers in return for a marketing fee. The Big Spring Logistics Assets will include:
• | Approximately 60 storage tanks and certain ancillary assets (such as tank pumps and piping) primarily located adjacent to the Big Spring Refinery;
• | An asphalt terminal and a light products terminal;
• | Certain crude oil and refined product pipelines; and
• | Other logistics assets, such as four underground saltwells used for natural gas liquids storage.
The purchase price is $315.0 million, financed through a combination of cash on hand and borrowings on the Partnership’s revolving credit facility, with closing expected to occur in March 2018. In connection with the closing of the transaction, Delek, the Partnership and various of their subsidiaries expect to enter into and amend certain existing contracts, such as a new throughput and tankage agreement for the Big Spring Logistics Assets. The transaction has been and related agreements are expected to be approved by the Conflicts Committee of Delek Logistics’ general partner, which is comprised solely of independent directors. Formation of Green Plains Joint Venture On February 20, 2018, the Partnership and Green Plains Partners LP ("Green Plains") announced the companies have formed DKGP Energy Terminals, LLC ("DKGP Energy"), a joint venture engaging in the light products terminalling business. The Partnership and Green Plains will each own a 50% membership interest in DKGP Energy. DKGP Energy signed a membership interest purchase agreement to acquire two light products terminals located in Caddo Mills, Texas and North Little Rock, Arkansas from an affiliate of American Midstream Partners, L.P. ("American Midstream"). Subject to customary closing conditions and regulatory approvals, this transaction is expected to close in the first half of 2018. DKGP Energy will consist of the assets purchased from the affiliate of American Midstream and assets contributed by the Partnership. Immediately prior to the closing of the acquisition by the joint venture of the two terminals from American Midstream, the Partnership will contribute to the joint venture its North Little Rock, Arkansas terminal and its Greenville tank farm located in Caddo Mills, Texas. The DKGP Energy board will oversee the newly formed joint venture and will appoint an affiliate of the Partnership as the operator with day-to-day operational responsibilities of the four terminals.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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