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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net revenues:        
Affiliates (1) [1] $ 123,519 $ 95,410 $ 308,435 $ 289,739
Third party 66,108 46,858 202,583 133,567
Net Revenues 189,627 142,268 511,018 423,306
Cost of sales:        
Cost of materials and other 105,129 60,692 274,995 205,877
Operating expenses (excluding depreciation and amortization presented below) 16,830 13,694 45,201 39,271
Depreciation and amortization 9,666 8,931 29,393 22,957
Total cost of sales 131,625 83,317 349,589 268,105
Operating expenses (excluding depreciation and amortization presented below) 515 536 1,741 2,152
General and administrative expenses 6,141 6,122 17,018 16,973
Depreciation and amortization 490 528 1,469 1,495
Other operating expense (income), net 273 0 54 (107)
Total operating costs and expenses 139,044 90,503 369,871 288,618
Operating income 50,583 51,765 141,147 134,688
Interest expense, net 14,529 10,360 35,924 32,854
Income from equity method investments (7,261) (4,860) (17,952) (16,875)
Other (income) expense, net (115) 105 (118) 103
Total non-operating expenses, net 7,153 5,605 17,854 16,082
Income before income tax (benefit) expense 43,430 46,160 123,293 118,606
Income tax (benefit) expense (194) (168) 156 67
Net income attributable to partners 43,624 46,328 123,137 118,539
Comprehensive income attributable to partners 43,624 46,328 123,137 118,539
Less: General partner's interest in net income, including incentive distribution rights [2] 0 0 0 18,724
Limited partners' interest in net income $ 43,624 $ 46,328 $ 123,137 $ 99,815
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.950 $ 0.905 $ 3.800 $ 2.695
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 1.00 1.26 2.83 3.30
Common units - (diluted) (in dollars per share) $ 1.00 $ 1.26 $ 2.83 $ 3.30
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 43,454,535 36,889,761 43,447,739 30,290,051
Common units - (diluted) (in shares) 43,468,289 36,894,043 43,457,857 30,292,261
[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.