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Net Income Per Limited Partner Unit (Tables)
12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Computation of net income per unit
Net income per unit for the year ended December 31, 2014 and for the period from the date of the Offering (December 16, 2013) to December 31, 2013 was computed as follows (in thousands, except per unit amounts):
 
 
Year Ended December 31, 2014
 
 
 
 
Limited Partners
 
 
 
 
 
 
General
Partner
 
Common
Units
 
Subordinated
Units
 
Restricted
Units
 
Total
Allocation of net income to determine
net income available to limited
partners:
 
 
 
 
 
 
 
 
 
 
Distributions, excluding general
partner’s IDRs
 
$
1,110

 
$
27,091

 
$
27,091

 
$

 
$
55,292

General partner’s IDRs
 
194

 

 

 

 
194

DERs
 

 

 

 
6

 
6

Distributions and DERs declared
 
1,304

 
27,091

 
27,091

 
6

 
55,492

Undistributed earnings
 
75

 
1,857

 
1,857

 

 
3,789

Net income available to
limited partners – basic
 
$
1,379

 
28,948

 
28,948

 
$
6

 
$
59,281

Add: DERs
 
 
 
6

 

 
 
 


Net income available to
limited partners – diluted
 
 
 
$
28,954

 
$
28,948

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per limited partner unit –
basic:
 
 
 
 
 
 
 
 
 
 
Weighted-average units outstanding
 
 
 
28,790

 
28,790

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per limited partner unit –
basic
 
 
 
$
1.01

 
$
1.01

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per limited partner unit – diluted:
 
 
 
 
 
 
 
 
 
 
Weighted-average units outstanding
 
 
 
28,790

 
28,790

 
 
 
 
Common equivalent units for
restricted units
 
 
 
1

 

 
 
 
 
Weighted-average units outstanding –
diluted
 
 
 
28,791

 
28,790

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income per limited partner unit –
diluted
 
 
 
$
1.01

 
$
1.01

 
 
 
 

 
 
December 16, 2013 through December 31, 2013
 
 
 
 
Limited Partners
 
 
 
 
General
Partner
 
Common
Units
 
Subordinated
Units
 
Total
Allocation of net income to determine net
income available to limited partners:
 
 
 
 
 
 
 
 
Distributions
 
$
44

 
$
1,065

 
$
1,065

 
$
2,174

Excess distributions over earnings
 
(3
)
 
(65
)
 
(65
)
 
(133
)
Net income available to limited partners
basic and diluted
 
$
41

 
$
1,000

 
$
1,000

 
$
2,041

 
 
 
 
 
 
 
 
 
Net income per limited partner unit –
basic and diluted:
 
 
 
 
 
 
 
 
Weighted-average units outstanding
 
 
 
28,790

 
28,790

 
 
 
 
 
 
 
 
 
 
 
Net income per limited partner unit  
basic and diluted:
 
 
 
$
0.03

 
$
0.03