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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Revenues $ 88,735 $ 111,774 $ 218,130 $ 206,950
Costs and expenses:        
Direct operating expenses 37,378 26,406 70,252 46,592
Cost of goods sold (exclusive of depreciation and amortization) 4,744 15,849 20,705 28,902
Real estate operating expenses 590 695 1,318 1,221
Depreciation, amortization and accretion 12,100 10,158 24,606 20,062
General and administrative expenses 4,175 3,068 8,689 4,437
Loss (gain) on disposal of property, plant and equipment 1,243 (4) 2,781 (4)
Total costs and expenses 60,230 56,172 128,351 101,210
Income from operations 28,505 55,602 89,779 105,740
Other expense:        
Interest expense, net (1,926) (85) (4,547) (85)
Loss from equity method investments (13,034) (114) (13,279) (64)
Total other expense, net (14,960) (199) (17,826) (149)
Net income before income taxes 13,545 55,403 71,953 105,591
Provision for income taxes 1,083 8,724 4,903 19,556
Net income 12,462 46,679 67,050 86,035
Net income before initial public offering 0 26,639 0 65,995
Net income subsequent to initial public offering 0 20,040 0 20,040
Net income attributable to non-controlling interest 9,640 15,237 51,197 15,237
Net income attributable to Rattler Midstream LP $ 2,822 $ 4,803 $ 15,853 $ 4,803
Net income attributable to limited partners per common unit:        
Basic (in dollars per share) $ 0.05 $ 0.11 $ 0.33 $ 0.11
Diluted (in dollars per share) $ 0.05 $ 0.11 $ 0.33 $ 0.11
Weighted average number of limited partner common units outstanding:        
Basic (in shares) 43,812 43,197 43,756 43,197
Diluted (in shares) 43,812 44,340 43,756 44,340
Revenues—related party        
Revenues:        
Revenues $ 78,031 $ 103,066 $ 194,614 $ 191,642
Revenues—third party        
Revenues:        
Revenues 7,175 5,078 16,275 8,565
Rental income—related party        
Revenues:        
Revenues 1,417 1,256 2,819 1,971
Rental income—third party        
Revenues:        
Revenues 1,885 2,038 3,786 4,105
Other real estate income—related party        
Revenues:        
Revenues 53 81 169 154
Other real estate income—third party        
Revenues:        
Revenues $ 174 $ 255 $ 467 $ 513