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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net revenues:        
Affiliates (1) [1] $ 88,722 $ 87,629 $ 184,916 $ 194,328
Third party 79,756 30,008 136,475 86,710
Net Revenues 168,478 117,637 321,391 281,038
Cost of sales:        
Cost of materials and other 88,695 43,892 169,866 145,185
Operating expenses (excluding depreciation and amortization presented below) 14,876 11,623 28,371 25,577
Depreciation and amortization 9,480 8,223 19,727 14,026
Total cost of sales 113,051 63,738 217,964 184,788
Operating expenses (excluding depreciation and amortization presented below) 605 826 1,166 1,616
General and administrative expenses 6,077 4,721 10,937 10,851
Depreciation and amortization 487 471 979 967
Other operating income, net (136) 0 (219) (107)
Total operating costs and expenses 120,084 69,756 230,827 198,115
Operating income 48,394 47,881 90,564 82,923
Interest expense, net 11,658 10,670 21,395 22,494
Income from equity method investments (6,642) (6,462) (10,691) (12,015)
Other income, net (34) (2) (3) (2)
Total non-operating expenses, net 4,982 4,206 10,701 10,477
Income before income tax expense (benefit) 43,412 43,675 79,863 72,446
Income tax expense (benefit) 166 (740) 350 235
Net income attributable to partners 43,246 44,415 79,513 72,211
Comprehensive income attributable to partners 43,246 44,415 79,513 72,211
Less: General partner's interest in net income, including incentive distribution rights [2] 0 9,647 0 18,724
Limited partners' interest in net income $ 43,246 $ 34,768 $ 79,513 $ 53,487
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.940 $ 0.900 $ 1.860 $ 1.790
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 1.00 1.18 1.83 1.98
Common units - (diluted) (in dollars per share) $ 1.00 $ 1.18 $ 1.83 $ 1.98
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 43,445,222 29,427,298 43,444,284 26,953,934
Common units - (diluted) (in shares) 43,460,366 29,430,555 43,453,806 26,956,523
[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.