Distributions and Net Income Per Limited Partner Unit (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution

The distributions are declared subsequent to quarter end; therefore, the table below represents total distributions declared from earnings of the related periods pertaining to such distributions.

	Three Months Ended March 31,
	2019			2018
Net income attributable to the Partnership	$	14,955		$	12,295
Less:
Limited partners' distributions declared on common units	15,666			12,814
Distributions declared with respect to the incentive distribution rights	—			733
Net income in excess of distribution (distribution in excess of net income)	$	(711	)	$	(1,252	)

Schedule of Earnings Per Share, Basic and Diluted

Net income attributable to the Partnership is allocated to the unitholders in accordance with their respective ownership percentages in preparation of the consolidated statement of equity. However, when distributions related to the incentive distribution rights are made, net income equal to the amount of those distributions is first allocated to the general partner before the remaining net income is allocated to the unitholders based on their respective ownership percentages. Basic and diluted net income per unit is the same because the Partnership does not have any potentially dilutive units outstanding for the periods presented.

	Three Months Ended March 31, 2019
	Limited Partners' Common Units			Incentive Distribution Rights		Total
Net income attributable to the Partnership:
Distribution declared	$	15,666		$	—	$	15,666
Distribution in excess of net income	(711		)	—		(711		)
Net income	$	14,955		$	—	$	14,955
Weighted average units outstanding:
Basic and diluted	32,345,398					32,345,398
Net income per limited partner unit:
Basic and diluted	$	0.46

	Three Months Ended March 31, 2018
	Limited Partners' Common Units			Incentive Distribution Rights		Total
Net income attributable to the Partnership:
Distribution declared	$	12,814		$	733	$	13,547
Distribution in excess of net income	(1,252		)	—		(1,252		)
Net income	$	11,562		$	733	$	12,295
Weighted average units outstanding:
Basic and diluted	32,236,449					32,236,449
Net income per limited partner unit:
Basic and diluted	$	0.36

The amended Partnership Agreement provides that the Partnership will distribute cash each quarter to all the unitholders, pro rata, until each unit has received a distribution of $1.2938. If cash distributions to the Partnership's unitholders exceed $1.2938 per unit in any quarter, the Partnership's unitholders and Westlake, as the holder of the Partnership's incentive distribution rights, will receive distributions according to the following percentage allocations:

	Marginal Percentage Interest in Distributions
Total Quarterly Distribution Per Unit	Unitholders		IDR Holders
Above $1.2938 up to $1.4063	85.0	%	15.0	%
Above $1.4063 up to $1.6875	75.0	%	25.0	%
Above $1.6875	50.0	%	50.0	%

The Partnership's distribution for the three months ended March 31, 2019 did not exceed the $1.2938 per unit threshold, and, as a result, no distribution was made with respect to the Partnership's incentive distribution rights to Westlake, as the holder of the Partnership's incentive distribution rights.

Distribution Per Common Unit

Distributions per common unit for the three months ended March 31, 2019 and 2018 were as follows:

	Three Months Ended March 31,
	2019		2018
Distributions per common unit	$	0.4328	$	0.3864