XML 45 R27.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity (Tables)
3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Schedule of Capital Units [Table Text Block]
The table below summarizes the changes in the number of units outstanding from December 31, 2016 through March 31, 2017.

 
 
Common - Public
 
Common - Delek
 
General Partner
 
Total
Balance at December 31, 2016
 
9,263,415

 
15,065,192

 
496,502

 
24,825,109

Delek unit repurchases from public
 
(132,379
)
 
132,379

 

 

Balance at March 31, 2017
 
9,131,036

 
15,197,571

 
496,502

 
24,825,109

Equity Activity [Table Text Block]
The summarized changes in the carrying amount of our equity from December 31, 2016 through March 31, 2017 are as follows (in thousands):
 
 
 
Common - Public
 
Common - Delek
 
General Partner
 
Total
Balance at December 31, 2016
 
$
188,013

 
$
(195,076
)
 
$
(6,221
)
 
$
(13,284
)
Cash distributions
(6,291
)
 
(10,252
)
 
(3,994
)
 
(20,537
)
Sponsor contribution of fixed assets

 
65

 
2

 
67

Net income attributable to partners
3,936

 
6,550

 
4,109

 
14,595

Unit-based compensation
154

 
257

 
(237
)
 
174

Delek unit repurchases from public
(4,037
)
 
4,037

 

 

Balance at March 31, 2017
 
$
181,775

 
$
(194,419
)
 
$
(6,341
)
 
$
(18,985
)
Schedule of Allocation of Net Income to General Partner [Table Text Block]
The following table presents the allocation of the general partner's interest in net income (in thousands, except percentage of ownership interest):
 
 
Three Months Ended March 31,
 
 
2017
 
2016
Net income attributable to partners
 
$
14,595

 
$
15,448

Less: General partner's IDRs
 
(3,895
)
 
(1,984
)
Net income available to partners
 
$
10,700

 
$
13,464

General partner's ownership interest
 
2.0
%
 
2.0
%
General partner's allocated interest in net income
 
$
214

 
$
269

General partner's IDRs
 
3,895

 
1,984

Total general partner's interest in net income
 
$
4,109

 
$
2,253

Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]
The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and our general partner based on the specified target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of our general partner and our unitholders in any available cash from operating surplus that we distribute up to and including the corresponding amount in the column “Total Quarterly Distribution per Unit Target Amount.” The percentage interests shown for our unitholders and our general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for our general partner include its 2.0% general partner interest and assume that (i) our general partner has contributed any additional capital necessary to maintain its 2.0% general partner interest, (ii) our general partner has not transferred its IDRs, and (iii) there are no arrearages on common units.

 
 
 
Target Quarterly Distribution per Unit
 
Marginal Percentage Interest in Distributions
 
 
 
Target Amount
 
Unitholders
 
General Partner
Minimum Quarterly Distribution
 
 
$
0.37500

 
98.0
%
 
2.0
%
First Target Distribution
 
above
$
0.37500

 
98.0
%
 
2.0
%
 
 
up to
$
0.43125

 
 
 
 
Second Target Distribution
 
above
$
0.43125

 
85.0
%
 
15.0
%
 
 
up to
$
0.46875

 
 
 
 
Third Target Distribution
 
above
$
0.46875

 
75.0
%
 
25.0
%
 
 
up to
$
0.56250

 
 
 
 
Thereafter
 
thereafter
$
0.56250

 
50.0
%
 
50.0
%
Distributions Made to Limited Partner, by Distribution [Table Text Block]
The table below summarizes the quarterly distributions related to our quarterly financial results:
Quarter Ended
 
Total Quarterly Distribution Per Limited Partner Unit
 
Total Quarterly Distribution Per Limited Partner Unit, Annualized
 
Total Cash Distribution, including general partner interest and IDRs (in thousands)
 
Date of Distribution
 
Unitholders Record Date
March 31, 2016
 
$
0.610

 
$
2.44

 
$
17,095

 
May 13, 2016
 
May 5, 2016
June 30, 2016
 
$
0.630

 
$
2.52

 
$
18,085

 
August 12, 2016 
 
August 5, 2016
September 30, 2016
 
$
0.655

 
$
2.62

 
$
19,302

 
November 14, 2016
 
November 7, 2016
December 31, 2016
 
$
0.680

 
$
2.72

 
$
20,537

 
February 14, 2017
 
February 3, 2017
March 31, 2017
 
$
0.690

 
$
2.76

 
$
21,024

 
May 12, 2017 (1)
 
May 5, 2017
            
(1) Expected date of distribution.

The allocation of total quarterly cash distributions expected to be made on May 12, 2017 to general and limited partners for the three months ended March 31, 2017 and the allocation of total quarterly cash distributions for the three months ended March 31, 2016 are set forth in the table below. Distributions earned with respect to a given period are declared subsequent to quarter end. Therefore, the table below presents total cash distributions applicable to the period in which the distributions are earned (in thousands, except per unit amounts):
 
 
 
Three Months Ended March 31,
 
 
2017
 
2016
General partner's distributions:
 
 
 
 
     General partner's distributions
 
$
342

 
$
302

     General partner's IDRs
 
3,895

 
1,984

          Total general partner's distributions
 
4,237

 
2,286

 
 
 
 
 
Limited partners' distributions:
 
 
 
 
     Common
 
16,787

 
10,385

     Subordinated
 

 
4,424

          Total limited partners' distributions
 
16,787

 
14,809

               Total cash distributions
 
$
21,024

 
$
17,095

 
 
 
 
 
Cash distributions per limited partner unit
 
$
0.690

 
$
0.610