$DKL
Delek Logistics Partners, LP

2014 Q1 Form 10-Q Financial Statement

#000155279714000013 Filed on May 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $203.5M $223.1M $210.9M
YoY Change -3.49% -10.48% -11.79%
Cost Of Revenue $172.2M $197.9M $187.9M
YoY Change -8.33% 104.16% -16.66%
Gross Profit $31.32M $25.20M $23.03M
YoY Change 35.96% -83.45% 68.44%
Gross Profit Margin 15.39% 11.3% 10.92%
Selling, General & Admin $2.663M $1.800M $2.200M
YoY Change 21.05% -18.18% -8.33%
% of Gross Profit 8.5% 7.14% 9.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.477M $3.700M $3.541M
YoY Change -1.81% 207.05% 65.93%
% of Gross Profit 11.1% 14.68% 15.37%
Operating Expenses $2.663M $13.50M $14.80M
YoY Change -82.01% -6.25% 68.18%
Operating Profit $15.68M $12.36M $8.210M
YoY Change 91.01% 139.67% 120.11%
Interest Expense $1.983M -$1.200M $817.0K
YoY Change 142.72% -341.94% 67.42%
% of Operating Profit 12.65% -9.71% 9.95%
Other Income/Expense, Net
YoY Change
Pretax Income $13.70M $10.30M $7.393M
YoY Change 85.3% 21.55% 66.85%
Income Tax $147.0K $200.0K $122.0K
% Of Pretax Income 1.07% 1.94% 1.65%
Net Earnings $13.55M $10.34M $7.271M
YoY Change 86.38% -55.93% 189.57%
Net Earnings / Revenue 6.66% 4.63% 3.45%
Basic Earnings Per Share
Diluted Earnings Per Share $559.7K $419.1K $304.2K
COMMON SHARES
Basic Shares Outstanding 24.64M shares 24.51M shares 24.49M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.100M $900.0K $19.00M
YoY Change -78.42% -96.17%
Cash & Equivalents $4.126M $924.0K $18.98M
Short-Term Investments
Other Short-Term Assets $220.0K $341.0K $362.0K
YoY Change -39.23% 101.78%
Inventory $14.05M $17.51M $24.50M
Prepaid Expenses
Receivables $31.53M $28.98M $37.89M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $50.59M $47.77M $81.74M
YoY Change -38.12% -27.31%
LONG-TERM ASSETS
Property, Plant & Equipment $223.6M $224.5M $152.7M
YoY Change 46.38% 17.51%
Goodwill $10.45M $11.65M $10.45M
YoY Change 0.0% 11.48%
Intangibles $11.99M $12.37M $12.18M
YoY Change -1.52% -0.45%
Long-Term Investments
YoY Change
Other Assets $4.707M $5.045M $3.698M
YoY Change 27.29% 37.69%
Total Long-Term Assets $250.7M $253.6M $179.1M
YoY Change 40.02% 16.53%
TOTAL ASSETS
Total Short-Term Assets $50.59M $47.77M $81.74M
Total Long-Term Assets $250.7M $253.6M $179.1M
Total Assets $301.3M $301.3M $260.8M
YoY Change 15.53% 6.36% 13.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.58M $26.05M $33.38M
YoY Change -26.37% 19.2%
Accrued Expenses $11.20M $10.40M $13.40M
YoY Change -16.42% 25.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.80M $39.71M $48.97M
YoY Change -26.88% -1.46%
LONG-TERM LIABILITIES
Long-Term Debt $260.5M $164.8M $90.00M
YoY Change 189.44% 83.11%
Other Long-Term Liabilities $5.711M $6.222M $9.208M
YoY Change -37.98% -36.57%
Total Long-Term Liabilities $269.6M $174.4M $100.7M
YoY Change 167.78% 69.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.80M $39.71M $48.97M
Total Long-Term Liabilities $269.6M $174.4M $100.7M
Total Liabilities $305.4M $214.1M $149.7M
YoY Change 104.09% 49.44%
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 -$4.100M $87.20M $111.1M
YoY Change
Total Liabilities & Shareholders Equity $301.3M $301.3M $260.8M
YoY Change 15.53% 6.36%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $13.55M $10.34M $7.271M
YoY Change 86.38% -55.93% 189.57%
Depreciation, Depletion And Amortization $3.477M $3.700M $3.541M
YoY Change -1.81% 207.05% 65.93%
Cash From Operating Activities $13.59M $7.000M -$2.020M
YoY Change -772.72% -77.49% -130.9%
INVESTING ACTIVITIES
Capital Expenditures $2.316M -$15.80M $3.715M
YoY Change -37.66% 56.44% 266.73%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 -$5.000M
YoY Change
Cash From Investing Activities -$965.0K -$20.70M -$3.715M
YoY Change -74.02% 107.0% -84.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.422M 8.000M $1.263M
YoY Change -846.0% 280.95% -92.88%
NET CHANGE
Cash From Operating Activities $13.59M 7.000M -$2.020M
Cash From Investing Activities -$965.0K -20.70M -$3.715M
Cash From Financing Activities -$9.422M 8.000M $1.263M
Net Change In Cash $3.202M -5.700M -$4.472M
YoY Change -171.6% -124.57% 55800.0%
FREE CASH FLOW
Cash From Operating Activities $13.59M $7.000M -$2.020M
Capital Expenditures $2.316M -$15.80M $3.715M
Free Cash Flow $11.27M $22.80M -$5.735M
YoY Change -296.56% -44.66% -203.82%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC 360, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant &amp; Equipment</font><font style="font-family:inherit;font-size:10pt;">, we evaluate the realizability of property, plant and equipment as events occur that might indicate potential impairment.</font></div></div>
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CY2014Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div></div>
CY2014Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
12152498 shares
CY2013Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
11999258 shares
CY2013Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
12092922 shares
CY2014Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
12281344 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24644649 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24514527 shares
CY2014Q1 dkl Allocation Of Net Sponsor Investment To Unitholders
AllocationOfNetSponsorInvestmentToUnitholders
0 USD
CY2013Q4 dkl Common Unitholders Delek
CommonUnitholdersDelek
-176680000 USD
CY2014Q1 dkl Common Unitholders Delek
CommonUnitholdersDelek
-245393000 USD
CY2013Q4 dkl Common Unitholders Delek Units Issued
CommonUnitholdersDelekUnitsIssued
2799258 shares
CY2014Q1 dkl Common Unitholders Delek Units Issued
CommonUnitholdersDelekUnitsIssued
2799258 shares
CY2014Q1 dkl Common Unitholders Delek Units Outstanding
CommonUnitholdersDelekUnitsOutstanding
2799258 shares
CY2013Q4 dkl Common Unitholders Delek Units Outstanding
CommonUnitholdersDelekUnitsOutstanding
2799258 shares
CY2013Q4 dkl Common Unitholders Public
CommonUnitholdersPublic
183839000 USD
CY2014Q1 dkl Common Unitholders Public
CommonUnitholdersPublic
185671000 USD
CY2013Q4 dkl Commonunitholderspublicunitsissued
Commonunitholderspublicunitsissued
9353240 shares
CY2014Q1 dkl Commonunitholderspublicunitsissued
Commonunitholderspublicunitsissued
9353240 shares
CY2014Q1 dkl Commonunitholderspublicunitsoustanding
Commonunitholderspublicunitsoustanding
9353240 shares
CY2013Q4 dkl Commonunitholderspublicunitsoustanding
Commonunitholderspublicunitsoustanding
9353240 shares
CY2014Q1 dkl Comprehensiveincomeattributabletopartners
Comprehensiveincomeattributabletopartners
14672000 USD
CY2013Q1 dkl Comprehensiveincomeattributabletopartners
Comprehensiveincomeattributabletopartners
12204000 USD
CY2014Q1 dkl Distribution Made To Member Or Limited Partner Distributions Paid Annualized Per Unit
DistributionMadeToMemberOrLimitedPartnerDistributionsPaidAnnualizedPerUnit
1.66
CY2014Q1 dkl Distributionsto General Partner
DistributionstoGeneralPartner
204000 USD
CY2013Q1 dkl Distributionsto General Partner
DistributionstoGeneralPartner
109000 USD
CY2014Q1 dkl Distributionstocommonunitholders Delek
DistributionstocommonunitholdersDelek
1162000 USD
CY2013Q1 dkl Distributionstocommonunitholders Delek
DistributionstocommonunitholdersDelek
627000 USD
CY2013Q1 dkl Distributionstocommonunitholders Public
DistributionstocommonunitholdersPublic
2060000 USD
CY2014Q1 dkl Distributionstocommonunitholders Public
DistributionstocommonunitholdersPublic
3882000 USD
CY2013Q1 dkl Distributionstosubordinatedunitholders
Distributionstosubordinatedunitholders
2690000 USD
CY2014Q1 dkl Distributionstosubordinatedunitholders
Distributionstosubordinatedunitholders
4980000 USD
CY2014Q1 dkl General Partner Distributions Other
GeneralPartnerDistributionsOther
95900000 USD
CY2013Q1 dkl General Partner Distributions Other
GeneralPartnerDistributionsOther
0 USD
CY2014Q1 dkl Increase Decrease In Equity Balance Due To Acquisitions
IncreaseDecreaseInEquityBalanceDueToAcquisitions
70700000 USD
CY2014Q1 dkl Maximum Exposure For Environmental Remediation Under Omnibus Agreement
MaximumExposureForEnvironmentalRemediationUnderOmnibusAgreement
250000 USD
CY2013Q1 dkl Net Income Loss Attributable To Partners
NetIncomeLossAttributableToPartners
12204000 USD
CY2014Q1 dkl Net Income Loss Attributable To Partners
NetIncomeLossAttributableToPartners
14672000 USD
CY2014Q1 dkl Net Income Loss Attributable To Predecessors
NetIncomeLossAttributableToPredecessors
-943000 USD
CY2013Q1 dkl Net Income Loss Attributable To Predecessors
NetIncomeLossAttributableToPredecessors
-4933000 USD
CY2014Q1 dkl Net Income Lossper Subordinatedunitbasicanddiluted
NetIncomeLossperSubordinatedunitbasicanddiluted
0.60
CY2013Q1 dkl Net Income Lossper Subordinatedunitbasicanddiluted
NetIncomeLossperSubordinatedunitbasicanddiluted
0.50
CY2014Q1 dkl Ownership Interestin General Partner
OwnershipInterestinGeneralPartner
0.966
CY2013Q4 dkl Predecessor Division Equity
PredecessorDivisionEquity
25161000 USD
CY2014Q1 dkl Predecessor Division Equity
PredecessorDivisionEquity
0 USD
CY2013Q1 dkl Predecessordivisionequitycashdistributioncontribution
Predecessordivisionequitycashdistributioncontribution
6439000 USD
CY2014Q1 dkl Predecessordivisionequitycashdistributioncontribution
Predecessordivisionequitycashdistributioncontribution
1006000 USD
CY2014Q1 dkl Reimbursementofcapitalexpendituresby Sponsor
ReimbursementofcapitalexpendituresbySponsor
0 USD
CY2013Q1 dkl Reimbursementofcapitalexpendituresby Sponsor
ReimbursementofcapitalexpendituresbySponsor
310000 USD
CY2013Q1 dkl Segment Contribution Margin
SegmentContributionMargin
13953000 USD
CY2014Q1 dkl Segment Contribution Margin
SegmentContributionMargin
21999000 USD
CY2013Q1 dkl Weighted Average Limited Partner Units Outstanding Subordinated Units Basic And Diluted
WeightedAverageLimitedPartnerUnitsOutstandingSubordinatedUnitsBasicAndDiluted
11999258 shares
CY2014Q1 dkl Weighted Average Limited Partner Units Outstanding Subordinated Units Basic And Diluted
WeightedAverageLimitedPartnerUnitsOutstandingSubordinatedUnitsBasicAndDiluted
11999258 shares
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
0001552797
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Delek Logistics Partners, LP
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
45000000 USD

Files In Submission

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0001552797-14-000013-index-headers.html Edgar Link pending
0001552797-14-000013-index.html Edgar Link pending
0001552797-14-000013.txt Edgar Link pending
0001552797-14-000013-xbrl.zip Edgar Link pending
dkl-10qx33114.htm Edgar Link pending
dkl-20140331.xml Edgar Link completed
dkl-20140331.xsd Edgar Link pending
dkl-20140331_cal.xml Edgar Link unprocessable
dkl-20140331_def.xml Edgar Link unprocessable
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