Blueknight Energy Partners, L.P.

2014 Q2 Form 10-Q Financial Statement

#000139209114000036 Filed on May 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.600M $900.0K $200.0K
YoY Change -66.67% 350.0% -95.92%
Cash & Equivalents $1.598M $906.0K $176.0K
Short-Term Investments
Other Short-Term Assets $3.985M $3.948M $1.794M
YoY Change 118.84% 120.07% -40.87%
Inventory
Prepaid Expenses
Receivables $12.56M $11.53M $12.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $25.02M $21.90M $17.01M
YoY Change -5.17% 28.76% -29.31%
LONG-TERM ASSETS
Property, Plant & Equipment $303.6M $301.3M $276.0M
YoY Change 4.65% 9.16% 4.74%
Goodwill $7.216M $7.216M $7.216M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $19.60M $19.30M $13.90M
YoY Change 16.67% 38.85%
Other Assets $1.772M $1.907M $1.567M
YoY Change 20.22% 21.7% -21.88%
Total Long-Term Assets $335.3M $333.1M $301.7M
YoY Change 4.95% 10.39% 8.81%
TOTAL ASSETS
Total Short-Term Assets $25.02M $21.90M $17.01M
Total Long-Term Assets $335.3M $333.1M $301.7M
Total Assets $360.4M $355.0M $318.7M
YoY Change 4.18% 11.37% 5.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.601M $7.811M $8.512M
YoY Change -39.54% -8.24% 13.48%
Accrued Expenses $7.400M $5.300M $5.600M
YoY Change 4.23% -5.36% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.600M
YoY Change -5.88%
Total Short-Term Liabilities $20.93M $18.95M $23.96M
YoY Change -25.12% -20.92% -2.79%
LONG-TERM LIABILITIES
Long-Term Debt $287.0M $281.0M $237.0M
YoY Change 9.37% 18.57% 11.79%
Other Long-Term Liabilities $6.000M $4.200M $100.0K
YoY Change 5900.0% 4100.0% 0.0%
Total Long-Term Liabilities $287.0M $281.0M $237.0M
YoY Change 9.37% 18.57% 11.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.93M $18.95M $23.96M
Total Long-Term Liabilities $287.0M $281.0M $237.0M
Total Liabilities $307.9M $299.9M $261.0M
YoY Change 6.05% 14.94% 10.27%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $46.40M $50.80M $57.00M
YoY Change
Total Liabilities & Shareholders Equity $360.4M $355.0M $318.7M
YoY Change 4.18% 11.37% 5.76%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
6537000 USD
CY2014Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
7811000 USD
CY2014Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11525000 USD
CY2013Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12244000 USD
CY2013Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1810000 USD
CY2014Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1379000 USD
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
69000 USD
CY2014Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
69000 USD
CY2014Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
0 USD
CY2013Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
31000 USD
CY2014Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000 USD
CY2013Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
500000 USD
CY2014Q1 us-gaap Assets
Assets
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CY2013Q4 us-gaap Assets
Assets
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CY2013Q4 us-gaap Assets Current
AssetsCurrent
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CY2014Q1 us-gaap Assets Current
AssetsCurrent
21900000 USD
CY2013Q4 us-gaap Assets Held For Sale Current
AssetsHeldForSaleCurrent
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CY2014Q1 us-gaap Assets Held For Sale Current
AssetsHeldForSaleCurrent
338000 USD
CY2014Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF CONSOLIDATION AND PRESENTATION</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The financial statements have been prepared in accordance with accounting principles and practices generally accepted in the United States of America (&#8220;GAAP&#8221;).&#160;&#160;The consolidated statements of operations for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;">, the consolidated statement of changes in partners&#8217; capital for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">three months ended March 31,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;">, the statement of cash flows for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">three months ended March 31,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">2014</font><font style="font-family:inherit;font-size:10pt;">, and the consolidated balance sheet as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> are unaudited.&#160;&#160;In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments necessary to state fairly the financial position and results of operations for the respective interim periods.&#160;&#160;All adjustments are of a recurring nature unless otherwise disclosed herein.&#160;&#160;The 2013 year-end consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP.&#160;&#160;These consolidated financial statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership&#8217;s annual report on Form 10-K for the year ended December&#160;31, 2013 filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;12, 2014</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;2013 Form 10-K&#8221;).&#160;&#160;Interim financial results are not necessarily indicative of the results to be expected for an annual period.&#160;&#160;The Partnership&#8217;s significant accounting policies are consistent with those disclosed in Note 4 of the Notes to Consolidated Financial Statements in its 2013 Form 10-K. A reclassification has been made to the consolidated statements of operations for the three months ended March 31, 2013 to conform to the current financial statement presentation.&#160; This was a recasting of amounts related to discontinued operations (see Note 3). The reclassification has no impact on net income.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Partnership&#8217;s investment in Advantage Pipeline, L.L.C. (&#8220;Advantage Pipeline&#8221;), over which the Partnership has significant influence but not control, is accounted for by the equity method. The Partnership does not consolidate any part of the assets or liabilities of its equity investee. The Partnership&#8217;s share of net income or loss is reflected as one line item on the Partnership&#8217;s Consolidated Statements of Operations entitled &#8220;Equity earnings in unconsolidated affiliate&#8221; and will increase or decrease, as applicable, the carrying value of the Partnership&#8217;s investment in the unconsolidated affiliate on the balance sheet. Distributions to the Partnership will reduce the carrying value of its investment and will be reflected in the Partnership&#8217;s Consolidated Statements of Cash Flows in the line item &#8220;Distributions from unconsolidated affiliate.&#8221; In turn, contributions will increase the carrying value of the Partnership&#8217;s investment and will be reflected in the Partnership&#8217;s Consolidated Statements of Cash Flows in investing activities. The Partnership evaluates its equity investment for impairment in accordance with FASB guidance with respect to the equity method of accounting for investments in common stock. An impairment of an equity investment results when factors indicate that the investment&#8217;s fair value is less than its carrying value and the reduction in value is other than temporary in nature.</font></div></div>
CY2013Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
-140000 USD
CY2014Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
906000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3182000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
176000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3177000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2276000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3001000 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2014Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2014Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2013Q4 us-gaap Common Stock Shares Outstanding
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CY2014Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
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CY2013Q1 us-gaap Debt Instrument Interest Rate During Period
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CY2014Q1 us-gaap Deferred Finance Costs Noncurrent Net
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CY2013Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
3580000 USD
CY2013Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2326000 USD
CY2014Q1 us-gaap Deferred Revenue Current
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2000000 USD
CY2014Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1000000 USD
CY2014Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2014Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
1000000 USD
CY2014Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1000000 USD
CY2013Q1 us-gaap Depreciation
Depreciation
5800000 USD
CY2014Q1 us-gaap Depreciation
Depreciation
6300000 USD
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5823000 USD
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6317000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
0 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
355000 USD
CY2014Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
3100000 USD
CY2013Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
3149000 USD
CY2014Q1 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
2716000 USD
CY2013Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
153000 USD
CY2014Q1 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
144000 USD
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2014Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2014Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3706000 USD
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7379000 USD
CY2014Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
397000 USD
CY2013Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-216000 USD
CY2014Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
397000 USD
CY2013Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-222000 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4487000 USD
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4667000 USD
CY2013Q4 us-gaap General Partners Capital Account
GeneralPartnersCapitalAccount
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CY2014Q1 us-gaap General Partners Capital Account
GeneralPartnersCapitalAccount
-610350000 USD
CY2014Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
1127755 shares
CY2013Q4 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
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CY2013Q4 us-gaap Goodwill
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7216000 USD
CY2014Q1 us-gaap Goodwill
Goodwill
7216000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5307000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3892000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3993000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
5381000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5381000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3993000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.07
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.07
CY2013Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.01
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
715000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.03
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.03
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-56000 USD
CY2014Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-204000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
101000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
74000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1072000 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1680000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-719000 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2080000 USD
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
450000 USD
CY2014Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
832000 USD
CY2013Q1 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-1171000 USD
CY2014Q1 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-433000 USD
CY2014Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-3673000 USD
CY2013Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2819000 USD
CY2014Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-238000 USD
CY2013Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
131000 USD
CY2013Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-401000 USD
CY2014Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1569000 USD
CY2014Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-373000 USD
CY2013Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-28000 USD
CY2014Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-76000 USD
CY2013Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-15000 USD
CY2014Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-261000 USD
CY2013Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-659000 USD
CY2014Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-431000 USD
CY2013Q1 us-gaap Interest Expense
InterestExpense
2732000 USD
CY2013Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2900000 USD
CY2014Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2400000 USD
CY2013Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
241686 USD
CY2014Q1 us-gaap Interest Expense
InterestExpense
2655000 USD
CY2013Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
19498000 USD
CY2014Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
19294000 USD
CY2013Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-470000 USD
CY2014Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
79769.93 USD
CY2013Q4 us-gaap Interest Payable Current
InterestPayableCurrent
482000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1071000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
23583000 USD
CY2014Q1 us-gaap Liabilities Current
LiabilitiesCurrent
18948000 USD
CY2014Q1 us-gaap Interest Payable Current
InterestPayableCurrent
244000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7425000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27906000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7999000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6220000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
354748000 USD
CY2014Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
354957000 USD
CY2014Q1 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
899000 USD
CY2013Q1 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 USD
CY2014Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
355000 USD
CY2013Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
461149000 USD
CY2014Q1 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
456574000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
273000000 USD
CY2014Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
281000000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
3892000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
6022000 USD
CY2014Q1 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
93000 USD
CY2013Q1 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
187000 USD
CY2014Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-1592000 USD
CY2013Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
444000 USD
CY2014Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.07
CY2013Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.02
CY2014Q1 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Description
NewAccountingPronouncementOrChangeInAccountingPrincipleDescription
RECENTLY ISSUED ACCOUNTING STANDARDSIn July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” The amendment provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Partnership adopted this update in January 2014, and the impact was not material.In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements and Property, Plant, and Equipment.” The amendments in this update change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The amendments in this update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Partnership is evaluating the impact of this guidance, which will be adopted beginning with the Partnership’s quarterly report for the period ending March 31, 2015.
CY2013Q1 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
5391000 USD
CY2014Q1 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable
5391000 USD
CY2014Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 Operating-segments
CY2014Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
22 States
CY2014Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
35500000 USD
CY2013Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
31484000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
39987000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
36151000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
8169000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4321000 USD
CY2014Q1 us-gaap Other Assets Current
OtherAssetsCurrent
3948000 USD
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3717000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6852000 USD
CY2013Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
2554000 USD
CY2014Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2014Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
8511000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2126000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1907000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4959000 USD
CY2014Q1 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
3687000 USD
CY2013Q4 us-gaap Partners Capital
PartnersCapital
55458000 USD
CY2014Q1 us-gaap Partners Capital
PartnersCapital
50823000 USD
CY2014Q1 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
8511000 USD
CY2013Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
223000 USD
CY2014Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2013Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
8222000 USD
CY2013Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
14000000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7878000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13907000 USD
CY2014Q1 us-gaap Preferred Units Issued
PreferredUnitsIssued
30158619 shares
CY2013Q4 us-gaap Preferred Units Issued
PreferredUnitsIssued
30158619 shares
CY2014Q1 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
30158619 shares
CY2013Q4 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
30158619 shares
CY2014Q1 us-gaap Preferred Units Preferred Partners Capital Accounts
PreferredUnitsPreferredPartnersCapitalAccounts
204599000 USD
CY2013Q4 us-gaap Preferred Units Preferred Partners Capital Accounts
PreferredUnitsPreferredPartnersCapitalAccounts
204599000 USD
CY2014Q1 us-gaap Prepaid Insurance
PrepaidInsurance
2467000 USD
CY2013Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1694000 USD
CY2013Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
30000000 USD
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000 USD
CY2013Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-240000 USD
CY2014Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-597000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
453000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1000 USD
CY2013Q1 bkep Weighted Average Restrictedand Phantom Partnership Units Outstanding Basic
WeightedAverageRestrictedandPhantomPartnershipUnitsOutstandingBasic
564000 shares
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
468456000 USD
CY2014Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
476457000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
301259000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
297400000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7000000 USD
CY2013Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4000000 USD
CY2014Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2013Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
446000 USD
CY2014Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
12206000 USD
CY2013Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
12479000 USD
CY2014Q1 us-gaap Revenues
Revenues
46442000 USD
CY2013Q1 us-gaap Revenues
Revenues
44536000 USD
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
34236000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
32057000 USD
CY2014Q1 bkep Weighted Average Restrictedand Phantom Partnership Units Outstanding Basic
WeightedAverageRestrictedandPhantomPartnershipUnitsOutstandingBasic
526000 shares
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-53000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
526000 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-355000 USD
CY2013Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
22675000 shares
CY2014Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
22900000 shares
CY2014Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
22900000 shares
CY2013Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
22675000 shares
CY2013Q4 bkep Accumulated Depreciationand Impairments Assetsheldforsale
AccumulatedDepreciationandImpairmentsAssetsheldforsale
166000 USD
CY2014Q1 bkep Accumulated Depreciationand Impairments Assetsheldforsale
AccumulatedDepreciationandImpairmentsAssetsheldforsale
166000 USD
CY2014Q1 bkep Accumulated Depreciationand Impairmentspropertyplantandequipment
AccumulatedDepreciationandImpairmentspropertyplantandequipment
175198000 USD
CY2013Q4 bkep Accumulated Depreciationand Impairmentspropertyplantandequipment
AccumulatedDepreciationandImpairmentspropertyplantandequipment
171056000 USD
CY2013Q4 bkep Allowance For Doubtful Accounts Receivables Due From Related Parties Current
AllowanceForDoubtfulAccountsReceivablesDueFromRelatedPartiesCurrent
0 USD
CY2014Q1 bkep Allowance For Doubtful Accounts Receivables Due From Related Parties Current
AllowanceForDoubtfulAccountsReceivablesDueFromRelatedPartiesCurrent
0 USD
CY2014Q1 bkep Amortizationof Financing Costsand Write Offof Debt Issuance Costs
AmortizationofFinancingCostsandWriteOffofDebtIssuanceCosts
199000 USD
CY2013Q1 bkep Amortizationof Financing Costsand Write Offof Debt Issuance Costs
AmortizationofFinancingCostsandWriteOffofDebtIssuanceCosts
455000 USD
CY2014Q1 bkep Chief Executive Officer Non Voting Economic Interest In Company Capital Contribution Related To Profit Interests
ChiefExecutiveOfficerNonVotingEconomicInterestInCompanyCapitalContributionRelatedToProfitInterests
37000 USD
CY2013Q1 bkep Chief Executive Officer Non Voting Economic Interest In Company Capital Contribution Related To Profit Interests
ChiefExecutiveOfficerNonVotingEconomicInterestInCompanyCapitalContributionRelatedToProfitInterests
37000 USD
CY2014Q1 bkep Chief Executive Officer Non Voting Economic Interest In Company Profit Interest Contributions
ChiefExecutiveOfficerNonVotingEconomicInterestInCompanyProfitInterestContributions
37000 USD
CY2013Q4 bkep Deferred Related Party Revenue Current
DeferredRelatedPartyRevenueCurrent
90000 USD
CY2014Q1 bkep Deferred Related Party Revenue Current
DeferredRelatedPartyRevenueCurrent
91000 USD
CY2014Q1 bkep Depreciation Depletionand Amortizationon Continuing Operations
DepreciationDepletionandAmortizationonContinuingOperations
6317000 USD
CY2013Q1 bkep Depreciation Depletionand Amortizationon Continuing Operations
DepreciationDepletionandAmortizationonContinuingOperations
5736000 USD
CY2013Q4 bkep General Partner Percentage Interest
GeneralPartnerPercentageInterest
0.021
CY2014Q1 bkep General Partner Percentage Interest
GeneralPartnerPercentageInterest
0.021
CY2014Q1 bkep Gross Income Of Partnership For Any Taxable Year Is Qualifying Income Will Be Taxable As Corporation For Federal Income Tax Purposes For That Taxable Year And All Subsequent Years Maximum
GrossIncomeOfPartnershipForAnyTaxableYearIsQualifyingIncomeWillBeTaxableAsCorporationForFederalIncomeTaxPurposesForThatTaxableYearAndAllSubsequentYearsMaximum
0.90
CY2014Q1 bkep Increase Decrease In Accrued Interest Payable To Related Parties
IncreaseDecreaseInAccruedInterestPayableToRelatedParties
0 USD
CY2013Q1 bkep Increase Decrease In Accrued Interest Payable To Related Parties
IncreaseDecreaseInAccruedInterestPayableToRelatedParties
69000 USD
CY2013Q1 bkep Increase Decrease In Deferred Revenue Related Parties
IncreaseDecreaseInDeferredRevenueRelatedParties
-71000 USD
CY2014Q1 bkep Increase Decrease In Deferred Revenue Related Parties
IncreaseDecreaseInDeferredRevenueRelatedParties
-8000 USD
CY2013Q1 bkep Operating Margin Excluding Depreciation And Amortization
OperatingMarginExcludingDepreciationAndAmortization
18788000 USD
CY2014Q1 bkep Operating Margin Excluding Depreciation And Amortization
OperatingMarginExcludingDepreciationAndAmortization
17259000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001392091
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
22925092 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Blueknight Energy Partners, L.P.
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
200000000 USD

Files In Submission

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0001392091-14-000036.txt Edgar Link pending
0001392091-14-000036-xbrl.zip Edgar Link pending
bkep-03x31x14x10q.htm Edgar Link pending
bkep-20140331.xml Edgar Link completed
bkep-20140331.xsd Edgar Link pending
bkep-20140331_cal.xml Edgar Link unprocessable
bkep-20140331_def.xml Edgar Link unprocessable
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