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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net revenues:        
Affiliates (1) [1] $ 87,629 $ 61,918 $ 194,328 $ 124,883
Third party 30,008 93,424 86,710 182,942
Net revenues 117,637 155,342 281,038 307,825
Cost of sales:        
Cost of materials and other 43,892 93,854 145,185 190,119
Operating expenses (excluding depreciation and amortization presented below) 11,623 16,521 25,577 31,828
Depreciation and amortization 8,223 6,188 14,026 12,312
Total cost of sales 63,738 116,563 184,788 234,259
Operating expenses (excluding depreciation and amortization presented below) 826 806 1,616 1,557
General and administrative expenses 4,721 5,293 10,851 9,766
Depreciation and amortization 471 451 967 901
Other operating income, net 0 (27) (107) (25)
Total operating costs and expenses 69,756 123,086 198,115 246,458
Operating income 47,881 32,256 82,923 61,367
Interest expense, net 10,670 11,354 22,494 22,655
Income from equity method investments (6,462) (4,515) (12,015) (6,466)
Other (income) expense, net (2) 461 (2) 461
Total non-operating expenses, net 4,206 7,300 10,477 16,650
Income before income tax expense 43,675 24,956 72,446 44,717
Income tax (benefit) expense (740) 71 235 136
Net income attributable to partners 44,415 24,885 72,211 44,581
Comprehensive income attributable to partners 44,415 24,885 72,211 44,581
Less: General partner's interest in net income, including incentive distribution rights 9,647 8,079 18,724 15,348
Limited partners' interest in net income $ 34,768 $ 16,806 $ 53,487 $ 29,233
Weighted average limited partner units outstanding:        
Cash distributions per limited partner unit (in dollars per share) $ 0.900 $ 0.850 $ 1.790 $ 1.670
Common Units        
Net income per limited partner unit:        
Common units - (basic) (in dollars per share) 1.18 0.69 1.98 1.20
Common units - (diluted) (in dollars per share) $ 1.18 $ 0.69 $ 1.98 $ 1.20
Weighted average limited partner units outstanding:        
Common units - (basic) (in shares) 29,427,298 24,409,359 26,953,934 24,408,270
Common units - (diluted) (in shares) 29,430,555 24,414,343 26,956,523 24,414,077
[1]
See Note 3 for a description of our material affiliate revenue transactions.