Equity

We had 9,101,137 common limited partner units held by the public outstanding as of June 30, 2018. Additionally, as of June 30, 2018, Delek owned a 61.4% limited partner interest in us, consisting of 15,294,046 common limited partner units and a 94.6% interest in our general partner, which owns the entire 2.0% general partner interest consisting of 497,861 general partner units. Affiliates, who are also members of our general partner's management and board of directors, own the remaining 5.4% interest in our general partner.

Equity Activity

The table below summarizes the changes in the number of units outstanding from December 31, 2017 through June 30, 2018.



	Common - Public	Common - Delek	General Partner	Total
Balance at December 31, 2017	9,088,587	15,294,046	497,604	24,880,237
General partner units issued to maintain 2% interest	—	—	257	257
Unit-based compensation awards ⁽¹⁾	12,550	—	—	12,550
Balance at June 30, 2018	9,101,137	15,294,046	497,861	24,893,044

⁽¹⁾ Unit-based compensation awards are presented net of 598 units withheld for taxes.

The summarized changes in the carrying amount of our equity from December 31, 2017 through June 30, 2018 are as follows (in thousands):



	Common - Public			Common - Delek			General Partner			Total
Balance at December 31, 2017	$	174,378		$	(197,206	)	$	(6,397	)	$	(29,225	)
Distributions to unitholders and general partner related to Big Spring Logistic Assets Acquisition	—			(96,822		)	(1,976		)	(98,798		)
Cash distributions ⁽¹⁾	(13,463		)	(22,558		)	(10,810		)	(46,831		)
Net income attributable to partners	12,581			21,154			11,842			45,577
Unit-based compensation	111			185			6			302
Other	—			—			13			13
Balance at June 30, 2018	$	173,607		$	(295,247	)	$	(7,322	)	$	(128,962	)

⁽¹⁾ Cash distributions include $0.1 million related to distribution equivalents on vested phantom units.

Allocations of Net Income

Our Partnership Agreement contains provisions for the allocation of net income and loss to the unitholders and our general partner. For purposes of maintaining partner capital accounts, the Partnership Agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect to priority income allocations in an amount equal to incentive cash distributions allocated 100% to our general partner.

The following table presents the allocation of the general partner's interest in net income (in thousands, except percentage of ownership interest):



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Net income attributable to partners	$	25,582		$	18,977		$	45,577		$	33,572
Less: General partner's IDRs	(5,817		)	(4,258		)	(11,154		)	(8,153		)
Net income available to partners	$	19,765		$	14,719		$	34,423		$	25,419
General partner's ownership interest	2.0		%	2.0		%	2.0		%	2.0		%
General partner's allocated interest in net income	$	395		$	294		$	688		$	508
General partner's IDRs	5,817			4,258			11,154			8,153
Total general partner's interest in net income	$	6,212		$	4,552		$	11,842		$	8,661

Incentive Distribution Rights

The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of our general partner and our unitholders in any available cash from operating surplus that we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution per Unit Target Amount.” The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner include its 2.0% general partner interest and assume that (i) our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest and (ii) our general partner has not transferred its IDRs.



		Target Quarterly Distribution per Unit		Marginal Percentage Interest in Distributions
		Target Amount		Unitholders		General Partner
Minimum Quarterly Distribution		$	0.37500	98.0	%	2.0	%
First Target Distribution	above	$	0.37500	98.0	%	2.0	%
	up to	$	0.43125
Second Target Distribution	above	$	0.43125	85.0	%	15.0	%
	up to	$	0.46875
Third Target Distribution	above	$	0.46875	75.0	%	25.0	%
	up to	$	0.56250
Thereafter	thereafter	$	0.56250	50.0	%	50.0	%

Cash Distributions

Our Partnership Agreement sets forth the calculation to be used to determine the amount and priority of available cash distributions that our limited partner unitholders and general partner will receive. Our distributions earned with respect to a given period are declared subsequent to quarter end. The table below summarizes the quarterly distributions related to our quarterly financial results:



Quarter Ended	Total Quarterly Distribution Per Limited Partner Unit		Total Quarterly Distribution Per Limited Partner Unit, Annualized		Total Cash Distribution, including general partner interest and IDRs (in thousands)		Date of Distribution	Unitholders Record Date
June 30, 2017	$	0.705	$	2.82	$	21,783	August 11, 2017	August 4, 2017
September 30, 2017	$	0.715	$	2.86	$	22,270	November 14, 2017	November 7, 2017
December 31, 2017	$	0.725	$	2.90	$	22,777	February 12, 2018	February 2, 2018
March 31, 2018	$	0.750	$	3.00	$	23,997	May 15, 2018	May 7, 2018
June 30, 2018	$	0.770	$	3.08	$	24,984	August 13, 2018 ⁽¹⁾	August 3, 2018

⁽¹⁾ Expected date of distribution.

The allocation of total quarterly cash distributions expected to be made on August 13, 2018 to general and limited partners for the three and six months ended June 30, 2018 and the allocation of total quarterly cash distributions for the three and six months ended June 30, 2017 are set forth in the table below. Distributions earned with respect to a given period are declared subsequent to quarter end. Therefore, the table below presents total cash distributions applicable to the period in which the distributions are earned (in thousands, except per unit amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
General partner's distributions:
General partner's distributions	$	383	$	350	$	756	$	692
General partner's IDRs	5,817		4,258		11,154		8,153
Total general partner's distributions	6,200		4,608		11,910		8,845

Limited partners' distributions:
Common limited partners' distributions	18,784		17,175		37,071		33,962

Total cash distributions	$	24,984	$	21,783	$	48,981	$	42,807

Cash distributions per limited partner unit	$	0.770	$	0.705	$	1.520	$	1.395