XML 49 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Affiliates $ 67,450 $ 65,523 $ 203,762 $ 190,222
Third parties 14,680 12,200 40,370 37,084
Total revenues 82,130 77,723 244,132 227,306
Operating costs and expenses:        
Operations (exclusive of depreciation and amortization) 25,456 21,686 72,835 72,089
Depreciation and amortization 15,483 19,449 46,953 48,730
General and administrative 2,266 2,415 7,933 8,747
Total operating costs and expenses 43,205 43,550 127,721 129,566
Operating income 38,925 34,173 116,411 97,740
Other income (expense):        
Equity in earnings of SLC Pipeline 880 835 2,150 2,238
Interest expense (8,585) (11,816) (27,368) (35,929)
Interest income 0 3 3 110
Loss on early extinguishment of debt 0 0 (7,677) 0
Gain (loss) on sale of assets 0 (159) 0 1,863
Other income 11 61 45 61
Total other income (expense) (7,694) (11,076) (32,847) (31,657)
Income before income taxes 31,231 23,097 83,564 66,083
State income tax expense (42) (40) (145) (440)
Net Income 31,189 23,057 83,419 65,643
Allocation of Net Income Attributable to Noncontrolling Interest (1,509) (1,172) (6,562) (5,192)
Net income attributable to Holly Energy Partners 29,680 21,885 76,857 60,451
General partner interest in net income, including incentive distributions (8,940) (7,128) (25,334) (20,038)
Limited partners’ interest in net income $ 20,740 $ 14,757 $ 51,523 $ 40,413
Limited partners’ per unit interest in earnings—basic and diluted: $ 0.35 $ 0.25 $ 0.87 $ 0.69
Weighted average limited partners’ units outstanding 58,657 58,657 58,657 58,108