22 unchanged sentences
As of August 12, 2020, the IDRs held by our general partner were entitled to receive the maximum distribution.
−Removed: Financial Data
−Removed: SELECTED FINANCIAL DATA
−Removed: The following tables set forth certain selected consolidated financial data as of and for each of the five years in the period ended December 31, 2020, along with descriptions of certain transactions that occurred during the year ended December 31, 2015.
−Removed: All financial results have been adjusted for subsequent transactions with our Predecessors as noted below.
−Removed: During the year ended December 31, 2016, the Partnership entered into various transactions with Delek Holdings and our general partner pursuant to which we acquired the following assets from Delek Holdings:
−Removed: • two crude oil rail offloading racks, which are designed to receive up to 25,000 bpd of light crude oil or 12,000 bpd of heavy crude oil, or any combination of the two, delivered by rail to Delek Holdings' El Dorado Refinery (the "El Dorado Refinery") and related ancillary assets (the “El Dorado Assets”) effective March 31, 2015 (such transaction, the "El Dorado Rail Offloading Racks Acquisition");
−Removed: • a crude oil storage tank (the "Tyler Crude Tank") with a shell capacity of approximately 350,000 barrels located adjacent to Delek Holdings' Tyler Refinery (the "Tyler Refinery") and certain ancillary assets (collectively, with the Tyler Crude Tank, the "Tyler Assets") effective March 31, 2015 (such transaction, the "Tyler Crude Tank Acquisition");
−Removed: the Tyler Assets, together with the El Dorado Assets, are hereinafter collectively referred to as the "Logistics Assets".
−Removed: The El Dorado Rail Offloading Racks Acquisition and the Tyler Crude Tank Acquisition were accounted for as transfers between entities under common control;
−Removed: such acquisitions hereinafter collectively referred to as the "Acquisitions from Delek Holdings." As entities under common control with Delek Holdings, transfers between entities under common control are accounted for as if the transfer occurred at the beginning of the period, and prior years have been retrospectively adjusted to include the historical results of the assets acquired in the Acquisitions from Delek Holdings prior to the effective date of each acquisition for all periods presented.
−Removed: Prior to each acquisition date, we refer to the Acquisitions from Delek Holdings collectively as our “Predecessors.”
−Removed: During the year ended December 31, 2019, the Partnership, through its wholly-owned subsidiary DKL Big Spring, LLC, acquired the Big Spring Logistics Assets from Delek Holdings, which are primarily located at or adjacent to the Big Spring Refinery.
−Removed: The Big Spring Logistic Assets Acquisition was considered a transaction between entities under common control.
−Removed: During the year ended December 31, 2020, the Partnership, through its wholly-owned subsidiary DKL Permian Gathering, LLC, acquired the Big Spring Gathering Assets from Delek Holdings, located in Howard, Borden and Martin Counties, Texas.
−Removed: In addition, the Partnership, through its wholly-owned subsidiary DKL Transportation, LLC acquired the Trucking Assets from Delek Holdings.
−Removed: The Big Spring Gathering Assets Acquisition and the Trucking Assets Acquisition were considered transactions between entities under common control.
−Removed: However, prior periods have not been recast, as these assets did not constitute a business in accordance with Accounting Standard Update 2017-01, "Clarifying the Definition of a Business."
−Removed: As our Predecessors recorded revenues, general and administrative expenses and financed operations differently than the Partnership, our financial results may not be comparable.
−Removed: See "Factors Affecting the Comparability of Our Financial Results" in Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, in this Annual Report on Form 10-K for additional information.
−Removed: The following tables should be read in conjunction with Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations and our consolidated financial statements in Item 8, Financial Statements and Supplementary Data, in this Annual Report on Form 10-K.
−Removed: Financial Data
−Removed: Year Ended December 31,
−Removed: (In thousands, except units and per unit data) 2020 2019 2018 2017 2016
−Removed: Statements of Income and Other Comprehensive Income Data:
−Removed: Net revenues $ 563,418 $ 583,992 $ 657,609 $ 538,075 $ 448,059
−Removed: Operating costs and expenses 383,625 458,180 531,852 449,898 370,409
−Removed: Operating income 179,793 125,812 125,757 88,177 77,650
−Removed: Non-operating costs and expenses 20,314 28,096 35,041 18,990 14,765
−Removed: Income before income tax expense (benefit) 159,479 97,716 90,716 69,187 62,885
−Removed: Income tax expense (benefit) 223 967 534 (222) 81
−Removed: Net income attributable to partners $ 159,256 $ 96,749 $ 90,182 $ 69,409 $ 62,804
−Removed: General partners' interest in net income, including incentive distribution rights 18,724 33,080 25,543 18,429 12,193
−Removed: Limited partners' interest in net income $ 140,532 $ 63,669 $ 64,639 $ 50,980 $ 50,611
−Removed: Net income per limited partner unit:
−Removed: Common - basic
−Removed: $ 4.18 $ 2.61 $ 2.65 $ 2.09 $ 2.08
−Removed: Common - diluted
−Removed: $ 4.18 $ 2.61 $ 2.65 $ 2.09 $ 2.07
−Removed: Subordinated - Delek Holdings basic and diluted
−Removed: $ — $ — $ — $ — $ 2.19
−Removed: Weighted average limited partner units outstanding:
−Removed: Common units - basic 33,594,284 24,413,294 24,390,286 24,348,063 22,490,264
−Removed: Common units - diluted
−Removed: 33,597,418 24,418,641 24,396,881 24,367,972 22,558,717
−Removed: Subordinated units - Delek Holdings basic and diluted
−Removed: — — — — 1,803,167
−Removed: Cash distributions per limited partner unit
−Removed: $ 3.605 $ 3.440 $ 3.120 $ 2.835 $ 2.575
−Removed: Year Ended December 31,
−Removed: (In thousands) 2020 2019 2018 2017 2016
−Removed: Balance Sheet Data:
−Removed: Property, plant and equipment, net $ 464,812 $ 295,044 $ 312,562 $ 255,068 $ 251,029
−Removed: Total assets 956,417 744,447 624,593 443,530 415,547
−Removed: Total debt, including current maturities 992,291 833,110 700,430 422,649 392,600
−Removed: Total liabilities 1,064,718 895,566 759,416 472,755 428,831
−Removed: Total deficit (108,301) (151,119) (134,823) (29,225) (13,284)
Management's Discussion and Analysis
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.