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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net revenues        
Revenues $ 246,911 $ 266,750 $ 490,436 $ 473,331
Cost of sales:        
Operating expenses (excluding depreciation and amortization presented below) 28,476 20,284 52,691 37,827
Depreciation and amortization 22,469 12,948 42,233 22,809
Total cost of sales 179,070 209,592 349,145 363,190
Operating expenses related to wholesale business (excluding depreciation and amortization presented below) 480 705 1,005 1,269
General and administrative expenses 6,611 13,773 14,121 18,868
Depreciation and amortization 1,258 474 2,599 948
(Gain) loss on disposal of assets (455) 0 (313) 12
Total operating costs and expenses 186,964 224,544 366,557 384,287
Operating income 59,947 42,206 123,879 89,044
Interest expense, net 35,099 16,812 67,680 31,062
Income from equity method investments (7,285) (7,073) (13,601) (14,099)
Other income, net (19) (2) (21) (3)
Total non-operating expenses, net 27,795 9,737 54,058 16,960
Income before income tax expense 32,152 32,469 69,821 72,084
Income tax expense 256 305 558 406
Net income attributable to partners 31,896 32,164 69,263 71,678
Comprehensive income attributable to partners $ 31,896 $ 32,164 $ 69,263 $ 71,678
Net income per limited partner unit:        
Basic (in dollars per unit) $ 0.73 $ 0.74 $ 1.59 $ 1.65
Diluted (in dollars per unit) $ 0.73 $ 0.74 $ 1.59 $ 1.65
Weighted average limited partner units outstanding:        
Basic (in units) 43,577,428 43,475,931 43,573,716 43,473,746
Diluted (in units) 43,597,282 43,502,983 43,591,726 43,491,796
Cash distributions per limited partner unit (in dollars per unit) $ 1.035 $ 0.985 $ 2.060 $ 1.965
Affiliated Entity        
Net revenues        
Revenues [1] $ 132,993 $ 124,366 $ 257,992 $ 248,120
Cost of sales:        
Cost of materials and other 92,042 143,730 183,113 249,615
Third Party        
Net revenues        
Revenues 113,918 142,384 232,444 225,211
Cost of sales:        
Cost of materials and other $ 36,083 $ 32,630 $ 71,108 $ 52,939
[1] See Note 3 for a description of our material affiliate revenue and purchases transactions.