DELEK LOGISTICS PARTNERS, LP DKL Cash Flow

Delek logistics partners, lp (DKL)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Cash flows from operating activities:
Net income
104,849	96,749	96,391	89,186	89,883	90,182	87,817	81,414	74,809	69,409	65,807	62,035	61,951	62,804	62,787	68,238	67,656	66,211	71,095	67,332	70,509	70,058	53,631	54,600	39,685	33,404	42,158	22,713	18,626	13,866	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
26,426	26,701	26,070	26,184	26,564	25,990	25,238	23,998	22,721	21,914	22,046	21,940	21,010	20,813	21,071	20,256	20,188	19,692	17,860	17,166	16,045	15,022	15,611	14,013	13,674	13,738	12,697	13,774	12,750	11,343	0	0	0
Non-cash lease expense
-549	193	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of customer contract intangible assets
7,200	7,200	7,200	7,200	7,199	6,000	4,200	2,400	601	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Amortization of deferred revenue
1,759	1,688	1,650	1,577	1,549	1,497	1,325	1,356	1,304	1,234	1,246	1,107	1,169	1,085	1,122	954	657	596	-1,378	-806	-225	307	250	204	204	204	0	0	0	-	-	-	-
Amortization of deferred financing costs and debt discount
2,298	2,629	2,647	2,723	2,826	2,577	2,594	2,552	2,339	2,048	1,803	1,560	1,460	1,460	1,460	1,460	1,460	1,460	1,411	1,363	1,315	1,267	1,398	1,267	1,136	1,007	795	661	522	381	0	0	0
Accretion of asset retirement obligations
405	397	390	382	380	359	340	321	297	292	286	281	272	266	263	258	256	251	152	147	174	232	328	284	283	224	278	290	230	194	0	0	0
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-15	-54	-148	-173	-9	-52	-212	14	-167	-95	122	-109	348	378	305	309	-18,585	-18,771	-20,497	-18,762	0	0	0
Income (Loss) from Equity Method Investments
23,434	19,832	16,409	9,939	7,323	6,230	6,629	6,289	5,566	4,953	2,570	678	-704	-1,178	-889	-874	-817	-588	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends from equity method investments
19,533	16,108	10,996	8,467	7,391	6,936	6,709	4,370	3,379	2,346	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on asset disposals
306	197	-148	-935	-833	-891	-626	96	-28	20	-2	-35	-40	16	-106	-78	-55	-104	9	9	-88	-83	0	0	0	-	-	-	-	-	-	-	0
Other non-cash adjustments
1,456	1,557	792	814	1,635	826	583	548	583	610	730	730	665	599	522	445	440	406	376	347	290	274	481	473	522	464	88	60	-15	1	0	0	0
Changes in assets and liabilities:
Accounts receivable
-9,146	-8,382	-1,817	4,971	-3,827	-1,427	1,498	3,611	1,553	3,811	6,825	1,053	-5,355	-15,847	-23,462	-21,766	-1,046	7,197	-4,348	-736	-3,082	-2,892	4,923	-58	-6,359	1,251	-2,571	7,557	6,846	5,148	0	0	0
Inventories and other current assets
-1,898	7,702	5,134	-8,263	-6,363	-15,178	-3,302	5,507	6,529	11,692	-265	-2,506	-300	-2,045	2,744	5,618	2,592	907	-6,211	-21,964	-10,554	-7,894	-11,306	9,775	-10,592	3,333	-11,348	-9,616	6,580	-4,917	0	0	0
Accounts payable and other current liabilities
-4,351	-4,836	-5,049	-1,552	-14,015	-1,747	-1,953	257	15,654	10,859	11,277	7,143	3,694	3,551	-7,909	-16,039	-7,797	-13,734	-12,304	-25,797	-8,509	-7,117	-2,438	13,538	-11,573	7,332	-10,628	-1,045	4,495	-4,401	0	0	0
Accounts receivable/payable to related parties
8,447	-1,065	-54,052	-19,287	-27,517	-9,038	50,440	5,412	17,257	-1,682	781	3,004	-3,522	6,983	11,419	11,813	2,320	-1,737	-188	-6,251	2,020	885	-4,098	-437	2,799	8,635	-10,637	-6,609	-7,522	-15,766	0	0	0
Non-current assets and liabilities, net
-3,840	-3,662	-5,007	-4,824	-3,760	-3,019	-2,248	-2,471	-3,217	-3,762	447	584	-151	-401	-666	-154	-289	5	894	494	1,764	1,550	7,574	3,884	3,523	4,030	-1,005	908	901	478	0	0	0
Net cash provided by operating activities
138,216	130,399	179,947	151,642	156,319	152,958	71,661	95,945	91,394	91,212	91,097	90,028	97,807	100,707	88,023	79,053	78,629	68,024	87,417	87,196	87,441	85,084	65,513	68,802	52,000	36,568	57,128	25,877	8,555	17,112	0	0	0
Cash flows from investing activities:
Payments to Acquire Assets From Asset Acquisition
100,000	0	158	4	4	72,380	72,222	78,819	78,819	6,443	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business combinations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,272	0	0	0
Purchases of property, plant and equipment
12,053	9,070	9,221	9,419	10,859	12,931	17,671	18,266	17,673	18,184	14,841	14,179	13,140	11,287	7,991	9,396	14,294	19,956	21,680	18,347	14,269	9,012	22,646	22,658	24,198	25,597	21,997	35,752	33,518	30,816	0	0	0
Proceeds from sales of property, plant and equipment
239	144	181	221	423	502	511	402	137	46	0	0	0	175	184	190	213	1,198	1,189	1,183	1,160	0	0	0	0	-	-	-	-	-	-	-	-
Purchases of intangible assets
-	-	-	-	-	144,219	144,219	146,779	146,779	2,560	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from equity method investments
110	804	1,009	1,306	1,306	1,162	957	912	1,413	753	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Equity Method Investments
144,122	139,294	137,362	134,999	3,574	173	172	766	1,881	3,531	10,408	31,398	48,411	61,580	65,068	55,764	50,067	37,434	27,069	14,789	2,186	0	0	0	0	-	-	-	-	-	-	-	-
Net cash (used in) investing activities
-255,826	-147,416	-145,551	-142,895	-12,708	-228,039	-232,816	-243,316	-243,602	-29,919	-33,499	-45,076	-61,551	-72,692	-72,875	-64,970	-64,548	-56,592	-70,610	-55,003	-37,945	-31,662	-27,661	-33,395	-34,935	-36,334	-27,700	-35,733	-33,497	-54,067	0	0	0
Cash flows from financing activities:
Proceeds from issuance of additional units to maintain 2% General Partner interest
12	8	14	21	15	26	20	13	34	21	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to general partner
33,492	31,654	29,450	27,491	25,777	23,698	21,862	20,270	18,797	17,691	16,222	14,388	12,437	10,244	8,174	6,431	5,013	3,918	3,150	2,542	1,884	1,382	1,035	805	785	690	0	0	0	-	-	-	-
Distributions to common unitholders - public
31,355	30,626	29,801	29,083	28,483	27,721	27,270	26,625	26,277	25,978	25,454	25,072	24,546	23,847	23,163	22,545	21,544	20,755	19,901	19,044	18,020	17,099	16,362	15,477	15,045	13,223	9,252	5,602	2,060	0	0	0	0
Distributions to common unitholders - Delek Holdings
52,535	51,388	50,011	48,788	47,717	46,417	45,270	44,276	43,326	42,490	41,248	39,788	33,872	25,271	17,174	9,390	6,269	6,046	5,822	5,612	5,319	5,053	4,815	4,591	4,479	3,944	119,345	118,240	117,162	116,535	0	0	0
Distributions to subordinated unitholders - Delek Holdings
-	-	-	-	-	-	-	-	-	-	-	-	-	11,503	18,343	24,943	26,880	25,919	24,958	24,057	22,797	21,658	20,639	19,677	19,197	16,907	12,047	7,310	2,690	0	0	0	0
Distributions to Delek Holdings unitholders and general partner related to Big Spring Logistic Assets Acquisition
-	-	-	-	-	98,798	98,798	98,798	98,798	0	0	0	0	-	-	-	-	61,890	61,890	61,890	61,890	95,900	0	0	0	-	-	0	0	-	-	-	-
Proceeds from revolving credit facility
707,100	564,700	533,400	582,300	444,800	735,000	749,400	654,700	617,200	277,100	291,300	296,300	299,450	314,750	323,486	350,736	342,936	396,400	405,914	420,164	452,414	499,750	464,200	489,400	391,500	206,300	263,700	194,600	268,800	351,900	0	0	0
Payments on revolving credit facility
473,300	433,000	470,300	479,500	478,300	458,200	375,000	315,300	514,500	489,800	507,500	504,350	265,350	273,750	273,636	305,086	301,400	296,550	310,764	342,264	396,550	412,800	395,200	340,400	221,000	131,500	155,900	155,500	227,900	292,200	0	0	0
Tax benefit from exercise of equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	0	0	0
Distributions to common unitholders - Delek
52,535	51,388	50,011	48,788	47,717	46,417	45,270	44,276	43,326	42,490	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Distributions to subordinated unitholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Predecessor division equity contribution
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	115	161	212	1,303	3,722	0	0	0	-	-	0	0	-	-	-	-
Capital contributions by Predecessors
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Reimbursement of capital expenditures by Delek Holdings
-	-	-	-	-	-	0	0	3,527	-	4,606	4,913	4,722	1,880	1,822	3,419	4,243	5,220	6,504	4,181	2,764	1,578	374	374	527	837	4,961	4,961	4,808	4,498	0	0	0
Net increase (decrease) in cash and cash equivalents
-1,180	1,023	-12,653	263	569	-153	13,716	278	4,754	4,616	5,290	4,899	-171	59	0	-124	204	-1,861	-733	-2,293	-4,126	937	-5,979	-24,886	-14,854	-22,528	6,499	26,618	18,953	23,417	0	0	0
Net cash provided by financing activities
116,430	18,040	-47,049	-8,484	-143,042	74,928	174,871	147,649	156,962	-56,677	-52,308	-40,053	-36,427	-27,956	-15,148	-14,207	-13,877	-13,293	-17,540	-34,486	-53,622	-52,485	-43,831	-60,293	-31,919	-22,762	-22,929	36,474	43,895	60,372	0	0	0
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest
45,697	44,791	43,516	42,137	41,947	38,959	34,599	30,391	18,757	19,441	12,592	13,291	13,009	12,206	11,622	11,001	10,225	9,009	8,151	8,016	7,810	7,661	7,135	5,524	4,128	3,242	2,279	2,217	2,209	2,006	0	0	0
Income taxes
89	144	144	276	195	137	0	0	0	-	-	-	-	-	-	-	-	4	5	5	8	18	18	48	45	30	0	0	0	-	-	-	-
Non-cash investing activities:
Equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,832	3,832	3,832	3,832	0	0	0	0	-	-	-	-	-	-	-	-
Decrease in accrued capital expenditures
-27	917	1,747	-25	-635	-1,363	-1,151	-378	163	194	613	415	334	480	1,715	1,579	1,644	2,471	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Partners' Capital Account, Acquisitions
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash financing activities:
Sponsor contribution of fixed assets
-	-	-	-	-	-	-	-	-	67	4,625	4,625	4,625	5,167	775	775	839	584	1,111	1,278	1,920	1,566	0	0	0	-	-	-	-	-	-	-	-
Non-cash lease liability arising from recognition of right of use assets upon adoption of ASU 2016-02
9	2,654	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-