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NET INCOME PER LIMITED PARTNER INTEREST (Tables)
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Schedule of Distribution Method to Limited and General Partners
The formula for distributing available cash as set forth in our partnership agreement is as follows:
Distribution Targets
 
Portion of Quarterly
Distribution Per Unit
 
Percentage Distributed to Limited Partners
 
Percentage Distributed to
General Partner
(including IDRs) (1)
Minimum Quarterly Distribution
 
Up to $0.2875
 
98%
 
2%
First Target Distribution
 
> $0.2875 to $0.330625
 
98%
 
2%
Second Target Distribution
 
> $0.330625 to $0.359375
 
85%
 
15%
Third Target Distribution
 
> $0.359375 to $0.431250
 
75%
 
25%
Thereafter
 
Amounts above $0.431250
 
50%
 
50%
    
(1)    Assumes our general partner maintains a 2% general partner interest in us.
Schedule of Earnings Per Share, Basic and Diluted
We determined basic and diluted net income per limited partner unit as set forth in the following tables:
 
 
Three Months Ended September 30, 2016
 
 
Common
Units
 
Subordinated
Units
 
Class A
Units
 
General
Partner
Units
 
Total
 
 
(in thousands, except per unit amounts)
Net income attributable to general and limited partner interests in USD Partners LP (1) 
 
$
7,859

 
$
4,639

 
$
77

 
$
256

 
$
12,831

Less: Distributable earnings (2)
 
4,733

 
2,792

 
46

 
154

 
7,725

Excess net income
 
$
3,126

 
$
1,847

 
$
31

 
$
102

 
$
5,106

Weighted average units outstanding (3)
 
14,182

 
8,371

 
139

 
461

 
23,153

Distributable earnings per unit (4)
 
$
0.33

 
$
0.33

 
$
0.33

 
 
 
 
Undistributed earnings per unit (5)
 
0.16

 
0.16

 
0.16

 
 
 
 
Net income per limited partner unit (basic and diluted)
 
$
0.49

 
$
0.49

 
$
0.49

 
 
 
 
 
(1) 
Represents earnings allocated to each class of units based on the actual ownership of the Partnership during the period.
(2) 
Represents the distributions payable for the period based upon the quarterly distribution amount of $0.3225 per unit, or $1.29 per unit on an annualized basis. Amounts presented for each class of unit include a proportionate amount of the $257 thousand distributable to holders of the Equity-classified Phantom Units pursuant to the distribution equivalent rights granted under the USD Partners LP 2014 Long-Term Incentive Plan.
(3) 
Represents the weighted average units outstanding for the period.
(4) 
Represents the total distributable earnings divided by the weighted average number of units outstanding for the period.
(5) 
Represents the additional amount per unit necessary to distribute the excess net income for the period among our limited partners, our general partner and the holder of the IDRs according to the distribution formula for available cash as set forth in our partnership agreement.
 
 
Three Months Ended September 30, 2015
 
 
Common
Units
 
Subordinated
Units
 
Class A
Units
 
General
Partner
Units
 
Total
 
 
(in thousands, except per unit amounts)
Net income attributable to general and limited partner interests in USD Partners LP (1) 
 
$
3,030

 
$
3,112

 
$
56

 
$
127

 
$
6,325

Less: Distributable earnings (2)
 
3,033

 
3,107

 
55

 
127

 
6,322

Excess net income (distributions)
 
$
(3
)
 
$
5

 
$
1

 
$
—

 
$
3

Weighted average units outstanding (3)
 
10,214

 
10,464

 
185

 
427

 
21,290

Distributable earnings per unit (4)
 
$
0.30

 
$
0.30

 
$
0.30

 
 
 
 
Undistributed earnings per unit (5)
 
—

 
—

 
—

 
 
 
 
Net income per limited partner unit (basic and diluted)
 
$
0.30

 
$
0.30

 
$
0.30

 
 
 
 
 
(1) 
Represents earnings allocated to each class of units based on the actual ownership of the Partnership during the period.
(2) 
Represents the distributions paid for the period of $0.2925 per unit for the three months ended September 30, 2015, or $1.17 per unit on an annualized basis. Amounts presented for each class of unit include a proportionate amount of the $95 thousand distributed for the period to holders of the Equity-classified Phantom Units pursuant to the distribution equivalent rights granted under the USD Partners LP 2014 Long-Term Incentive Plan.
(3) 
Represents the weighted average units outstanding for the period.
(4) 
Represents the total distributable earnings divided by the weighted average number of units outstanding for the period.
(5) 
Represents the additional amount per unit necessary to distribute the excess net income for the period among our limited partners, our general partner and the holder of the IDRs according to the distribution formula for available cash as set forth in our partnership agreement.

 
 
Nine Months Ended September 30, 2016
 
 
Common
Units
 
Subordinated
Units
 
Class A
Units
 
General
Partner
Units
 
Total
 
 
(in thousands, except per unit amounts)
Net income attributable to general and limited partner interests in USD Partners LP (1) 
 
$
12,220

 
$
7,468

 
$
125

 
$
403

 
$
20,216

Less: Distributable earnings (2)
 
13,867

 
8,183

 
135

 
451

 
22,636

Distributions in excess of earnings
 
$
(1,647
)
 
$
(715
)
 
$
(10
)
 
$
(48
)
 
$
(2,420
)
Weighted average units outstanding (3)
 
13,760

 
8,768

 
148

 
461

 
23,137

Distributable earnings per unit (4)
 
$
1.01

 
$
0.93

 
$
0.91

 
 
 
 
Overdistributed earnings per unit (5)
 
(0.12
)
 
(0.08
)
 
(0.07
)
 
 
 
 
Net income per limited partner unit (basic and diluted)
 
$
0.89

 
$
0.85

 
$
0.84

 
 
 
 
 
(1) 
Represents earnings allocated to each class of units based on the actual ownership of the Partnership during the period.
(2) 
Represents the per unit distributions paid of $0.3075 for the three months ended March 31, 2016, $0.3150 for the three months ended June 30, 2016, and $0.3225 distributable for the three months ended September 30, 2016, representing a year-to-date distribution amount of $0.9450 per unit. Amounts presented for each class of unit include a proportionate amount of the $499 thousand distributed and $257 thousand distributable to holders of the Equity-classified Phantom Units pursuant to the distribution equivalent rights granted under the USD Partners LP 2014 Long-Term Incentive Plan.
(3) 
Represents the weighted average units outstanding for the period.
(4) 
Represents the total distributable earnings divided by the weighted average number of units outstanding for the period.
(5) 
Represents the distributions in excess of earnings divided by the weighted average number of units outstanding for the period.
 
 
Nine Months Ended September 30, 2015
 
 
Common
Units
 
Subordinated
Units
 
Class A
Units
 
General
Partner
Units
 
Total
 
 
(in thousands, except per unit amounts)
Net income attributable to general and limited partner interests in USD Partners LP (1) 
 
$
5,280

 
$
5,421

 
$
96

 
$
221

 
$
11,018

Less: Distributable earnings (2)
 
9,040

 
9,262

 
164

 
378

 
18,844

Distributions in excess of earnings
 
$
(3,760
)
 
$
(3,841
)
 
$
(68
)
 
$
(157
)
 
$
(7,826
)
Weighted average units outstanding (3)
 
10,214

 
10,464

 
206

 
427

 
21,311

Distributable earnings per unit (4)
 
$
0.89

 
$
0.89

 
$
0.80

 
 
 
 
Overdistributed earnings per unit (5)
 
(0.37
)
 
(0.37
)
 
(0.33
)
 
 
 
 
Net income per limited partner unit (basic and diluted)
 
$
0.52

 
$
0.52

 
$
0.47

 
 
 
 
 
(1) 
Represents earnings allocated to each class of units based on the actual ownership of the Partnership during the period.
(2) 
Represents the per unit distributions paid of $0.2875 for the three months ended March 31, 2015, $0.2900 for the three months ended June 30, 2015, and $0.2925 for the three months ended September 30, 2015, representing a year-to-date distribution amount of $0.8700 per unit. Amounts presented for each class of unit include a proportionate amount of the $322 thousand distributed to holders of the Equity-classified Phantom Units pursuant to the distribution equivalent rights granted under the USD Partners LP 2014 Long-Term Incentive Plan.
(3) 
Represents the weighted average units outstanding for the period.
(4) 
Represents the total distributable earnings divided by the weighted average number of units outstanding for the period.
(5) 
Represents the distributions in excess of earnings divided by the weighted average number of units outstanding for the period.