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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net revenues:        
Affiliates (1) [1] $ 95,410 $ 66,647 $ 289,739 $ 191,530
Third party 46,858 70,909 133,567 253,852
Net revenues 142,268 137,556 423,306 445,382
Cost of sales:        
Cost of materials and other 60,692 72,594 205,877 262,713
Operating expenses (excluding depreciation and amortization presented below) 13,694 17,490 39,271 49,318
Depreciation and amortization 8,931 6,138 22,957 18,450
Total cost of sales 83,317 96,222 268,105 330,481
Operating expenses (excluding depreciation and amortization presented below) 536 945 2,152 2,502
General and administrative expenses 6,122 5,280 16,973 15,046
Depreciation and amortization 528 450 1,495 1,351
Other operating income, net 0 (70) (107) (95)
Total operating costs and expenses 90,503 102,827 288,618 349,285
Operating income 51,765 34,729 134,688 96,097
Interest expense, net 10,360 12,509 32,854 35,164
Income from equity method investments (4,860) (8,394) (16,875) (14,860)
Other expense, net 105 0 103 461
Total non-operating expenses, net 5,605 4,115 16,082 20,765
Income before income tax expense 46,160 30,614 118,606 75,332
Income tax (benefit) expense (168) 84 67 220
Net income attributable to partners 46,328 30,530 118,539 75,112
Comprehensive income attributable to partners 46,328 30,530 118,539 75,112
Less: General partner's interest in net income, including incentive distribution rights [2] 0 8,895 18,724 24,244
Limited partners' interest in net income $ 46,328 $ 21,635 $ 99,815 $ 50,868
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.905 $ 0.880 $ 2.695 $ 2.550
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 1.26 0.89 3.30 2.08
Common units - (diluted) (in dollars per share) $ 1.26 $ 0.89 $ 3.30 $ 2.08
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 36,889,761 24,417,285 30,290,051 24,411,308
Common units - (diluted) (in shares) 36,894,043 24,420,582 30,292,261 24,417,466
[1] See Note 3 for a description of our material affiliate revenue transactions.
[2] See Note 3 for a description of the IDR Restructuring Transaction.