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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net revenues      
Affiliate [1] $ 479,411 $ 418,826 $ 382,666
Third Party 556,996 282,076 180,752
Net revenues 1,036,407 700,902 563,418
Cost of sales:      
Operating expenses (excluding depreciation and amortization presented below) 85,438 59,483 53,846
Depreciation and amortization 60,210 40,945 33,737
Total cost of sales 787,011 484,837 356,677
Operating expenses related to wholesale business (excluding depreciation and amortization presented below) 2,869 2,337 2,433
General and administrative expenses 34,181 21,460 22,587
Depreciation and amortization 2,778 1,825 1,994
Other operating income, net (114) (59) (66)
Total operating costs and expenses 826,725 510,400 383,625
Operating income 209,682 190,502 179,793
Interest expense, net 82,304 50,221 42,874
Income from equity method investments (31,683) (24,575) (22,693)
Other (income) expense, net (373) (119) 133
Total non-operating expenses, net 50,248 25,527 20,314
Income before income tax expense 159,434 164,975 159,479
Income tax expense 382 153 223
Net income attributable to partners 159,052 164,822 159,256
Comprehensive income attributable to partners 159,052 164,822 159,256
Less: General partner's interest in net income, including incentive distribution rights [2] 0 0 18,724
Limited partners' interest in net income $ 159,052 $ 164,822 $ 140,532
Net income per limited partner unit:      
Basic (in dollars per unit) $ 3.66 $ 3.79 $ 4.18
Diluted (in dollars per unit) $ 3.66 $ 3.79 $ 4.18
Weighted average limited partner units outstanding:      
Basic (in units) 43,487,910 43,447,739 33,594,284
Diluted (in units) 43,511,650 43,460,470 33,597,418
Cash distributions per limited partner unit (in dollars per unit) $ 3.975 $ 3.785 $ 3.605
Affiliate      
Cost of sales:      
Cost of materials and other $ 496,184 $ 321,939 $ 205,581
Third Party      
Cost of sales:      
Cost of materials and other $ 145,179 $ 62,470 $ 63,513
[1] See Note 4 for a description of our material affiliate revenue and purchases transactions.
[2] See Note 4 for a description of the IDR Restructuring Transaction.