XML 31 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net revenues:      
Affiliate [1] $ 240,809 $ 156,280 $ 149,564
Third party 416,800 381,795 298,495
Net revenues 657,609 538,075 448,059
Cost of sales:      
Cost of materials and other 429,061 372,890 302,158
Operating expenses (excluding depreciation and amortization presented below) 55,924 40,154 34,896
Depreciation and amortization 24,108 19,026 17,897
Total cost of sales 509,093 432,070 354,951
Operating expenses related to wholesale business (excluding depreciation and amortization presented below) 2,820 3,120 2,302
General and administrative expenses 17,166 11,840 10,256
Depreciation and amortization 1,882 2,888 2,916
Loss (gain) on asset disposals 891 (20) (16)
Total operating costs and expenses 531,852 449,898 370,409
Operating income 125,757 88,177 77,650
Interest expense, net 41,263 23,944 13,587
(Income) loss from equity method investments (6,230) (4,953) 1,178
Other expense (income), net 8 (1) 0
Total non-operating expenses, net 35,041 18,990 14,765
Income before income tax expense (benefit) 90,716 69,187 62,885
Income tax expense (benefit) 534 (222) 81
Net income 90,182 69,409 62,804
Net income attributable to partners 90,182 69,409 62,804
Comprehensive income attributable to partners 90,182 69,409 62,804
Less: General partner's interest in net income, including incentive distribution rights 25,543 18,429 12,193
Limited partners' interest in net income $ 64,639 $ 50,980 $ 50,611
Weighted average limited partner units outstanding (2):      
Cash distributions per limited partner unit (in usd per unit) $ 3.120 $ 2.835 $ 2.575
Common Units      
Common units - (basic)      
Common units - (basic) (in usd per unit) 2.65 2.09 2.08
Common units - (diluted) (in usd per unit) $ 2.65 $ 2.09 $ 2.07
Weighted average limited partner units outstanding (2):      
Common units - (basic) (in units) [2] 24,390,286 24,348,063 22,490,264
Common units - (diluted) (in units) [2] 24,396,881 24,376,972 22,558,717
Subordinated- Delek      
Common units - (basic)      
Subordinated units - Delek Holdings (basic and diluted) (in usd per unit) $ 0 $ 0 $ 2.19
Weighted average limited partner units outstanding (2):      
Subordinated units - Delek Holdings (basic and diluted) (in units) [2] 0 0 1,803,167
[1] See Note 4 for a description of our material affiliate revenue transactions.
[2] 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 6 and 12 for further discussion.