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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net revenues:        
Affiliates (1) [1] $ 66,647 $ 63,835 $ 191,530 $ 178,559
Third party 70,909 100,275 253,852 319,752
Net revenues 137,556 164,110 445,382 498,311
Cost of sales:        
Cost of materials and other 72,594 105,596 262,713 330,644
Operating expenses (excluding depreciation and amortization presented below) 17,490 14,489 49,318 40,501
Depreciation and amortization 6,138 6,252 18,450 18,287
Total cost of sales 96,222 126,337 330,481 389,432
Operating expenses (excluding depreciation and amortization presented below) 945 906 2,502 2,388
General and administrative expenses 5,280 3,076 15,046 9,798
Depreciation and amortization 450 450 1,351 1,434
(Gain) loss on asset disposals (70) 717 (95) 648
Total operating costs and expenses 102,827 131,486 349,285 403,700
Operating income 34,729 32,624 96,097 94,611
Interest expense, net 12,509 11,108 35,164 30,096
Income from equity method investments (8,394) (1,924) (14,860) (4,681)
Other expense, net 0 8 461 8
Total non-operating expenses, net 4,115 9,192 20,765 25,423
Income before income tax expense 30,614 23,432 75,332 69,188
Income tax expense 84 106 220 285
Net income attributable to partners 30,530 23,326 75,112 68,903
Comprehensive income attributable to partners 30,530 23,326 75,112 68,903
Less: General partner's interest in net income, including incentive distribution rights 8,895 6,636 24,244 18,478
Limited partners' interest in net income $ 21,635 $ 16,690 $ 50,868 $ 50,425
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.880 $ 0.790 $ 2.550 $ 2.310
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 0.89 0.68 2.08 2.07
Common units - (diluted) (in dollars per share) $ 0.89 $ 0.68 $ 2.08 $ 2.07
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 24,417,285 24,395,183 24,411,308 24,387,995
Common units - (diluted) (in shares) 24,420,582 24,401,908 24,417,466 24,395,880
[1]
See Note 3 for a description of our material affiliate revenue transactions.