VALERO ENERGY PARTNERS LP
CIK:0001583103|SEC Filings
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
||||||||||
| Revenues – related party: | ||||||||||||
| Revenues from lease contracts | $ 436,609 | $ 351,532 | $ 273,730 | |||||||||
| Revenues from contracts with customer | 109,818 | 100,473 | 88,889 | |||||||||
| Total revenues – related party | 546,427 | 452,005 | 362,619 | |||||||||
| Costs and expenses: | ||||||||||||
| Cost of revenues from lease contracts (excluding depreciation expense reflected below) | [1] | 104,776 | 83,332 | 75,380 | ||||||||
| Depreciation expense associated with lease contracts | 63,499 | 40,950 | 33,961 | |||||||||
| Other operating expenses | 0 | 577 | 0 | |||||||||
| General and administrative expenses | [2] | 20,702 | 15,549 | 15,965 | ||||||||
| Total costs and expenses | 227,925 | 176,975 | 158,045 | |||||||||
| Operating income | 318,502 | 275,030 | 204,574 | |||||||||
| Other income, net | 2,214 | 753 | 284 | |||||||||
| Interest and debt expense, net of capitalized interest | [3] | (55,068) | (36,015) | (14,915) | ||||||||
| Income before income tax expense | 265,648 | 239,768 | 189,943 | |||||||||
| Income tax expense | 1,553 | 1,335 | 1,112 | |||||||||
| Net income | 264,095 | 238,433 | 188,831 | |||||||||
| Less: Net loss attributable to Predecessor | 0 | 0 | (15,422) | |||||||||
| Net income attributable to partners | 264,095 | 238,433 | 204,253 | |||||||||
| Less: General partner’s interest in net income | 54,108 | 49,113 | 23,553 | |||||||||
| Limited partners’ interest in net income | $ 209,987 | $ 189,320 | $ 180,700 | |||||||||
| Net income per limited partner unit – basic and diluted: | ||||||||||||
| Common units (in dollars per unit) | $ 3.03 | $ 2.77 | $ 2.85 | |||||||||
| Subordinated units (in dollars per unit) | $ 0.00 | $ 0.00 | $ 2.38 | |||||||||
| Weighted-average limited partner units outstanding – basic and diluted: | ||||||||||||
| Common units (units) | 69,250 | 68,220 | 48,817 | |||||||||
| Subordinated units (units) | 0 | 0 | 17,463 | |||||||||
| Services [Member] | ||||||||||||
| Revenues – related party: | ||||||||||||
| Revenues from contracts with customer | $ 109,818 | $ 100,473 | $ 88,889 | |||||||||
| Costs and expenses: | ||||||||||||
| Cost of revenues from contracts with customer (excluding depreciation expense reflected below) | [4] | 26,319 | 25,042 | 20,735 | ||||||||
| Depreciation expense associated with contracts with customer | $ 12,629 | $ 11,525 | $ 12,004 | |||||||||
| ||||||||||||