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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Affiliates $ 68,297 $ 64,480 $ 140,552 $ 136,312
Third parties 15,182 10,518 32,683 25,690
Total revenues 83,479 74,998 173,235 162,002
Operating costs and expenses:        
Operations (exclusive of depreciation and amortization) 25,289 24,567 53,255 47,379
Depreciation and amortization 15,063 15,882 29,757 31,470
General and administrative 2,696 2,516 5,986 5,667
Total operating costs and expenses 43,048 42,965 88,998 84,516
Operating income 40,431 32,033 84,237 77,486
Other income (expense):        
Equity in earnings of SLC Pipeline 631 748 1,365 1,270
Interest expense (9,056) (8,329) (17,824) (18,783)
Interest income 3 0 3 3
Loss on early extinguishment of debt 0 0 0 (7,677)
Other income 71 26 230 34
Total other income (expense) (8,351) (7,555) (16,226) (25,153)
Income before income taxes 32,080 24,478 68,011 52,333
State income tax expense (benefit) 64 (28) (37) (103)
Net Income 32,144 24,450 67,974 52,230
Allocation of Net Income Attributable to Noncontrolling Interest (1,743) (1,416) (5,770) (5,053)
Net income attributable to Holly Energy Partners 30,401 23,034 62,204 47,177
General partner interest in net income, including incentive distributions (10,196) (8,393) (20,006) (16,394)
Limited partners’ interest in net income $ 20,205 $ 14,641 $ 42,198 $ 30,783
Limited partners’ per unit interest in earnings—basic and diluted: $ 0.34 $ 0.25 $ 0.71 $ 0.52
Weighted average limited partners’ units outstanding 58,657 58,657 58,657 58,657