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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
[1]
Sep. 30, 2016
Sep. 30, 2015
[1]
Revenues:        
Affiliates $ 77,398 $ 73,716 $ 239,423 $ 214,268
Third parties 15,212 14,673 50,094 47,356
Total revenues 92,610 88,389 289,517 261,624
Operating costs and expenses:        
Operations (exclusive of depreciation and amortization) 27,954 24,196 82,131 77,661
Depreciation and amortization 15,520 16,444 47,780 46,421
General and administrative 2,664 3,673 8,618 9,659
Total operating costs and expenses 46,138 44,313 138,529 133,741
Operating income 46,472 44,076 150,988 127,883
Other income (expense):        
Equity in earnings of equity method investments 3,767 1,269 10,155 2,634
Interest expense (14,447) (9,486) (36,258) (27,310)
Interest income 108 381 332 384
Gain (Loss) on Sale of Assets and Other 112 176 104 406
Total other income (expense) (10,460) (7,660) (25,667) (23,886)
Income before income taxes 36,012 36,416 125,321 103,997
State income tax (expense) benefit (61) (69) (210) (106)
Net Income 35,951 36,347 125,111 103,891
Allocation of net income attributable to noncontrolling interests (1,166) (2,081) (8,448) (7,851)
Net income attributable to Holly Energy Partners 34,785 34,266 116,663 96,040
General partner interest in net income, including incentive distributions (15,222) (10,611) (39,784) (30,186)
Limited partners’ interest in net income $ 19,563 $ 23,655 $ 76,879 $ 65,854
Limited partners’ per unit interest in earnings—basic and diluted: $ 0.33 $ 0.40 $ 1.29 $ 1.11
Weighted average limited partners’ units outstanding 59,223 58,657 58,895 58,657
[1] Retrospectively adjusted as described in Note 1.