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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues – related party:        
Revenues from lease contracts $ 108,251 $ 84,657 $ 213,577 $ 165,769
Revenues from contracts with customer 26,376 25,888 52,992 50,592
Total revenues – related party 134,627 110,545 266,569 216,361
Costs and expenses:        
Cost of revenues from lease contracts (excluding depreciation expense reflected below) [1] 26,596 20,848 51,114 39,368
Depreciation expense associated with lease contracts 15,849 9,450 31,438 18,480
General and administrative expenses [2] 4,158 3,863 8,270 7,693
Total costs and expenses 56,377 43,423 110,330 82,573
Operating income 78,250 67,122 156,239 133,788
Other income, net 411 182 793 246
Interest and debt expense, net of capitalized interest [3] (14,271) (8,551) (26,179) (16,840)
Income before income tax expense 64,390 58,753 130,853 117,194
Income tax expense 371 310 755 614
Net income 64,019 58,443 130,098 116,580
Less: General partner’s interest in net income 18,077 11,419 34,632 20,886
Limited partners’ interest in net income $ 45,942 $ 47,024 $ 95,466 $ 95,694
Net income per limited partner common unit – basic and diluted:        
Net income per limited partner common unit – basic and diluted (dollars per unit) $ 0.66 $ 0.69 $ 1.38 $ 1.41
Weighted-average limited partner common units outstanding – basic and diluted:        
Weighted-average limited partner common units outstanding – basic and diluted (units) 69,251 68,157 69,250 67,912
Cash distribution declared per unit (dollars per unit) $ 0.551 $ 0.455 $ 1.0785 $ 0.8825
Services [Member]        
Revenues – related party:        
Revenues from contracts with customer $ 26,376 $ 25,888 $ 52,992 $ 50,592
Costs and expenses:        
Cost of revenues from contracts with customer (excluding depreciation expense reflected below) [4] 6,758 6,207 13,541 11,232
Depreciation expense associated with contracts with customer $ 3,016 $ 3,055 $ 5,967 $ 5,800
[1] Includes cost of revenues from lease contracts (excluding depreciation expense) – related party of $17,075 thousand and $14,369 thousand for the three months ended June 30, 2018 and 2017, respectively, and $35,010 thousand and $28,715 thousand for the six months ended June 30, 2018 and 2017, respectively.
[2] Includes general and administrative expenses – related party of $3,361 thousand and $3,185 thousand for the three months ended June 30, 2018 and 2017, respectively, and $6,722 thousand and $6,371 thousand for the six months ended June 30, 2018 and 2017, respectively.
[3] Includes interest and debt expense – related party of $2,464 thousand and $2,343 thousand for the three months ended June 30, 2018 and 2017, respectively, and $5,310 thousand and $4,450 thousand for the six months ended June 30, 2018 and 2017, respectively.
[4] Includes cost of revenues from contracts with customer (excluding depreciation expense) – related party of $2,018 thousand and $1,767 thousand for the three months ended June 30, 2018 and 2017, respectively, and $4,139 thousand and $3,053 thousand for the six months ended June 30, 2018 and 2017, respectively.