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Western Refining Logistics, LP

SIC 4610 · Pipe Lines (No Natural Gas)
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Western Refining Logistics, LP

CIK:0001581908|SEC Filings
v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Total revenues $ 627,509 $ 578,602 $ 1,232,201 $ 1,046,641
Cost of products sold:        
Affiliate 137,150 123,870 259,849 219,019
Third-party 403,180 380,386 797,780 680,827
Operating and maintenance expenses 47,269 42,991 92,116 87,649
Selling, general and administrative expenses 8,023 6,007 14,766 11,371
Gain on disposal of assets, net (2,936) (802) (3,227) (901)
Depreciation and amortization 9,784 9,553 19,516 18,891
Total operating costs and expenses 602,470 562,005 1,180,800 1,016,856
Operating income 25,039 16,597 51,401 29,785
Other income (expense):        
Interest and debt expense 6,576 6,414 13,184 13,466
Other income (expense), net 15 14 37 (104)
Net income before income taxes 18,478 10,197 38,254 16,215
Benefit (provision) for income taxes 250 (217) 360 (478)
Net income 18,728 9,980 38,614 15,737
Less net loss attributable to General Partner 0 (7,894) [1] 0 (16,144) [1]
Net income attributable to limited partners $ 18,728 $ 17,874 $ 38,614 $ 31,881
Earnings Per Share [Abstract]        
Distribution Made to Limited Partner, Distributions Declared, Per Unit $ 0.4525 $ 0.4025 $ 0.8900 $ 0.7950
Fee Based Revenues [Member]        
Revenues:        
Revenues: Affiliate $ 67,783 $ 53,965 $ 133,260 $ 105,893
Revenues: Third-party 703 677 1,322 1,367
Sales Based Revenues [Member]        
Revenues:        
Revenues: Affiliate 139,770 126,525 264,837 224,054
Revenues: Third-party 419,253 397,435 832,782 715,327
Common Units [Member]        
Other income (expense):        
Net income attributable to limited partners $ 14,747 $ 8,739 $ 27,725 $ 15,558
Earnings Per Share [Abstract]        
Earnings Per Share, Basic $ 0.24 $ 0.33 $ 0.52 $ 0.61
Earnings Per Share, Diluted $ 0.24 $ 0.33 $ 0.52 $ 0.61
Weighted Average Number of Shares Outstanding, Basic 60,962 26,409 53,364 25,429
Weighted Average Number of Shares Outstanding, Diluted 60,971 26,427 53,372 25,441
Subordinated Units [Member]        
Other income (expense):        
Net income attributable to limited partners $ 0 $ 8,214 $ 3,845 $ 14,641
Earnings Per Share [Abstract]        
Earnings Per Share, Basic and Diluted $ 0.00 $ 0.36 $ 0.51 $ 0.64
Weighted Average Number of Shares Outstanding, Basic and Diluted 0 22,811 7,562 22,811
[1] We apply the two-class method to calculate earnings per unit and allocate the results of operations of the St. Paul Park Logistics Assets prior to the St. Paul Park Logistics Transaction entirely to our general partner. The limited partners had no rights to the results of operations before the acquisition.