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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Net revenues:      
Affiliate [1] $ 382,666 $ 261,014 $ 240,809
Third party 180,752 322,978 416,800
Net revenues 563,418 583,992 657,609
Cost of sales:      
Cost of materials and other 269,094 336,473 429,061
Operating expenses (excluding depreciation and amortization presented below) 53,846 71,341 55,924
Depreciation and amortization 33,737 24,893 24,108
Total cost of sales 356,677 432,707 509,093
Operating expenses related to wholesale business (excluding depreciation and amortization presented below) 2,433 2,816 2,820
General and administrative expenses 22,587 20,815 17,166
Depreciation and amortization 1,994 1,808 1,882
Other operating (income) expense, net (66) 34 891
Total operating costs and expenses 383,625 458,180 531,852
Operating income 179,793 125,812 125,757
Interest expense, net 42,874 47,328 41,263
Income from equity method investments (22,693) (19,832) (6,230)
Other expense, net 133 600 8
Total non-operating expenses, net 20,314 28,096 35,041
Income before income tax expense 159,479 97,716 90,716
Income tax expense 223 967 534
Net income attributable to partners 159,256 96,749 90,182
Comprehensive income attributable to partners 159,256 96,749 90,182
General partner's interest in net income, including incentive distribution rights [2] 18,724 33,080 25,543
Limited partners' interest in net income $ 140,532 $ 63,669 $ 64,639
Net income per limited partner unit:      
Common units - basic (in usd per unit) $ 4.18 $ 2.61 $ 2.65
Common - diluted (in usd per unit) $ 4.18 $ 2.61 $ 2.65
Weighted average limited partner units outstanding:      
Common units - (basic) (in units) 33,594,284 24,413,294 24,390,286
Common units - (diluted) (in units) 33,597,418 24,418,641 24,396,881
Cash distributions per limited partner unit (in usd per unit) $ 3.605 $ 3.440 $ 3.120
[1] See Note 4 for a description of our material affiliate revenue transactions.
[2] See Note 4 for a description of the IDR Restructuring Transaction.