XML 29 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net revenues:        
Affiliates (1) [1] $ 124,366 $ 88,722 $ 248,120 $ 184,916
Third party 142,384 79,756 225,211 136,475
Net Revenues 266,750 168,478 473,331 321,391
Cost of sales:        
Cost of materials and other 176,360 88,695 302,554 169,866
Operating expenses (excluding depreciation and amortization presented below) 20,284 14,963 37,827 29,213
Depreciation and amortization 12,948 9,480 22,809 19,727
Total cost of sales 209,592 113,138 363,190 218,806
Operating expenses (excluding depreciation and amortization presented below) 705 605 1,269 1,166
General and administrative expenses 13,773 5,990 18,868 10,095
Depreciation and amortization 474 487 948 979
Other operating expense (income), net 0 (136) 12 (219)
Total operating costs and expenses 224,544 120,084 384,287 230,827
Operating income 42,206 48,394 89,044 90,564
Interest expense, net 16,812 11,658 31,062 21,395
Income from equity method investments (7,073) (6,642) (14,099) (10,691)
Other income, net (2) (34) (3) (3)
Total non-operating expenses, net 9,737 4,982 16,960 10,701
Income before income tax expense 32,469 43,412 72,084 79,863
Income tax (benefit) expense 305 166 406 350
Net income attributable to partners 32,164 43,246 71,678 79,513
Comprehensive income attributable to partners $ 32,164 $ 43,246 $ 71,678 $ 79,513
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.985 $ 0.940 $ 1.965 $ 1.860
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 0.74 1.00 1.65 1.83
Common units - (diluted) (in dollars per share) $ 0.74 $ 1.00 $ 1.65 $ 1.83
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 43,475,931 43,445,222 43,473,746 43,444,284
Common units - (diluted) (in shares) 43,502,983 43,460,366 43,491,796 43,453,806
[1] See Note 3 for a description of our material affiliate revenue transactions.