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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Impact of Revision

The following table details the impact of these revisions for the three and nine months ended September 30, 2016, on the Condensed Consolidated Statement of Operations:

 

 

Quarter to date September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As previously

 

 

 

 

 

 

 

 

 

 

 

reported

 

 

Adjustments (a)

 

 

As revised

 

Gain (loss) on revaluation of contingent consideration

 

$

-

 

 

$

(545

)

 

$

(545

)

Operating income

 

 

6,353

 

 

 

(545

)

 

 

5,808

 

Net income

 

 

6,336

 

 

 

(545

)

 

 

5,791

 

Net income attributable to partners' capital

 

 

4,458

 

 

 

(326

)

 

 

4,132

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per unit - common

 

$

0.22

 

 

$

(0.02

)

 

$

0.20

 

Basic and diluted earnings per unit - subordinated

 

$

0.22

 

 

$

(0.02

)

 

$

0.20

 

 

 

 

Year to date September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As previously

 

 

 

 

 

 

 

 

 

 

 

reported

 

 

Adjustments (a)

 

 

As revised

 

Gain (loss) on revaluation of contingent consideration

 

$

-

 

 

$

303

 

 

$

303

 

Operating income

 

 

17,356

 

 

 

303

 

 

 

17,659

 

Net income

 

 

17,462

 

 

 

303

 

 

 

17,765

 

Net income attributable to partners' capital

 

 

12,029

 

 

 

183

 

 

 

12,212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted earnings per unit - common

 

$

0.58

 

 

$

0.01

 

 

$

0.59

 

Basic and diluted earnings per unit - subordinated

 

$

0.58

 

 

$

0.01

 

 

$

0.59

 

 

 

 

(a)

The corresponding amounts have been revised within the statement of cash flows for the nine months ended September 30, 2016, with no net impact to operating cash flow.  
Schedule of Goodwill

A summary of the changes in the carrying amount of goodwill is as follows (in thousands):

 

 

As of

 

 

September 30,

 

 

December 31,

 

 

2017

 

 

2016

 

Beginning Balance

$

39,871

 

 

$

39,871

 

Goodwill acquired

 

-

 

 

 

-

 

Ending Balance

$

39,871

 

 

$

39,871

 

 
Schedule of Reconciliation of Contingent Consideration

The following is a reconciliation of the beginning and ending amounts of the contingent consideration obligation related to the JBBR Acquisition (in thousands):

 

 

Balance at

 

 

 

 

 

 

 

 

 

 

Balance at

 

 

December 31

 

 

Revaluation

 

 

Earn-out

 

 

September 30,

 

 

2016

 

 

Adjustments

 

 

payments

 

 

2017

 

Liabilities at fair value:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

JBBR contingent consideration

$

18,000

 

 

$

1,465

 

 

$

(1,865

)

 

$

17,600

 

Total liabilities at fair value

$

18,000

 

 

$

1,465

 

 

$

(1,865

)

 

$

17,600