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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Affiliates $ 79,179 $ 68,297 $ 162,025 $ 140,552
Third parties 15,718 15,182 34,882 32,683
Total revenues 94,897 83,479 196,907 173,235
Operating costs and expenses:        
Operations (exclusive of depreciation and amortization) 27,255 25,400 [1] 54,177 53,465 [1]
Depreciation and amortization 15,709 15,179 [1] 32,260 29,977 [1]
General and administrative 2,863 2,696 5,954 5,986
Total operating costs and expenses 45,827 43,275 [1] 92,391 89,428 [1]
Operating income 49,070 40,204 [1] 104,516 83,807 [1]
Other income (expense):        
Equity in Earnings of Equity Method Investments 3,623 631 6,388 1,365
Interest expense (11,276) (9,056) (21,811) (17,824)
Interest income 112 3 224 3
Gain (loss) on sale of assets (5) 50 (5) 209
Other (income) expense 5 21 (3) 21
Total other income (expense) (7,541) (8,351) (15,207) (16,226)
Income before income taxes 41,529 31,853 [1] 89,309 67,581 [1]
State income tax (expense) benefit (54) 64 (149) (37)
Net Income 41,475 31,917 [1] 89,160 67,544 [1]
Allocation of Net Income Attributable to Noncontrolling Interest (2,355) (1,743) (7,282) (5,770)
Net income attributable to Holly Energy Partners 39,120 30,174 81,878 61,774
General partner interest in net income, including incentive distributions (12,677) (9,969) [1] (24,562) (19,576) [1]
Limited partners’ interest in net income $ 26,443 $ 20,205 [1] $ 57,316 $ 42,198 [1]
Limited partners’ per unit interest in earnings—basic and diluted: $ 0.45 $ 0.34 $ 0.96 $ 0.71
Weighted average limited partners’ units outstanding 58,865 58,657 58,761 58,657
[1] Retrospectively adjusted as described in Note 1.