| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
108,169 | 100,837 | 110,016 | 74,807 | 69,008 | 14,738 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
38,601 | 29,809 | 24,404 | 15,406 | 7,806 | 4,708 | |
Amortization of loan fees and debt premium | ||||||
1,780 | 1,717 | 1,488 | 1,678 | 1,315 | 365 | |
Accretion on discounted liabilities | ||||||
2,768 | 775 | 0 | 0 | - | - | |
Unit-based compensation expense | ||||||
6,765 | 5,757 | 5,345 | 4,360 | 4,279 | 1,086 | |
Change in contingent consideration | ||||||
790 | 0 | 0 | - | - | - | |
Changes in operating assets and liabilities: | ||||||
Accounts receivable - affiliates | ||||||
11,004 | -3,765 | 3,954 | 12,439 | 12,319 | 11,630 | |
Accounts receivable | ||||||
-810 | 6,088 | -2,871 | 4,294 | 0 | 0 | |
Prepaids and other current assets | ||||||
472 | 679 | 39 | -3,152 | 117 | 296 | |
Accounts payable - affiliates | ||||||
-1,645 | -253 | 721 | 3,513 | 215 | 3,223 | |
Accounts payable | ||||||
5,564 | -964 | 126 | - | - | - | |
Accrued liabilities | ||||||
509 | -1,372 | -2,212 | 7,920 | 3,488 | -2,176 | |
Deferred revenue | ||||||
229 | 1,522 | 486 | 952 | 0 | 0 | |
Other assets and liabilities | ||||||
2,277 | 1,685 | 1,070 | 1,002 | 19 | 0 | |
Net cash provided by operating activities | ||||||
149,007 | 133,141 | 138,182 | 94,053 | 73,656 | 10,018 | |
Cash flows from investing activities: | ||||||
Payments to Acquire Property, Plant, and Equipment | ||||||
31,746 | 42,351 | 80,161 | 25,573 | 10,005 | 47,805 | |
Cash paid in acquisition | ||||||
- | - | 10,097 | 98,373 | - | 0 | |
Purchases of marketable securities | ||||||
0 | 0 | 75,036 | 1,909,965 | 2,067,286 | 1,918,637 | |
Maturities of marketable securities | ||||||
0 | 0 | 115,060 | 2,104,209 | 2,067,983 | 1,683,708 | |
Net cash used in investing activities | ||||||
-31,746 | -175,696 | -50,234 | 70,298 | -9,308 | -282,734 | |
Cash flows from financing activities: | ||||||
Proceeds from issuance of common units | ||||||
132,483 | 34,820 | 0 | 138,378 | 0 | 340,957 | |
Acquisition of TVPC noncontrolling interest | ||||||
200,000 | 0 | 0 | - | - | - | |
Distribution to PBF LLC related to Acquisitions | ||||||
- | - | - | - | - | 270,000 | |
Distributions to unitholders | ||||||
123,910 | 98,786 | 85,430 | 67,534 | 49,524 | 14,916 | |
Offering costs for issuance of common units | ||||||
- | - | - | - | - | 5,000 | |
Distributions to TVPC members | ||||||
8,500 | 20,250 | 21,544 | 175,000 | 112,500 | 328,664 | |
Deferred payment for the East Coast Storage Assets Acquisition | ||||||
32,000 | 0 | 0 | - | - | - | |
Distribution to parent | ||||||
- | - | - | - | 1,036 | 0 | |
Contribution from parent | ||||||
0 | 4,201 | 10,439 | 15,184 | 12,849 | 56,946 | |
Proceeds from issuance of senior notes | ||||||
0 | 0 | 178,500 | 0 | 350,000 | 0 | |
Proceeds from term loan | ||||||
- | - | - | - | - | 300,000 | |
Repayment of term loan | ||||||
0 | 0 | 39,664 | 194,536 | 700 | 65,100 | |
Proceeds from revolving credit facility | ||||||
228,000 | 170,000 | 20,000 | 194,700 | 24,500 | 275,100 | |
Repayment of revolving credit facility | ||||||
101,000 | 43,700 | 179,500 | 30,000 | 275,100 | 0 | |
Repayments of Related Party Debt | ||||||
0 | 0 | 11,600 | 0 | 0 | - | |
Deferred financing costs and other | ||||||
2,724 | -3,486 | -3,706 | 0 | 8,324 | 2,517 | |
Net cash provided by (used in) financing activities | ||||||
-102,203 | 42,799 | -132,505 | -118,808 | -59,835 | 286,806 | |
Net change in cash and cash equivalents | ||||||
15,058 | 244 | -44,557 | 45,543 | 4,513 | 14,090 | |
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Accrued capital expenditures | ||||||
1,193 | 4,632 | 1,423 | 1,540 | 0 | 2,539 | |
Contribution of net assets from PBF LLC | ||||||
242 | 1,056 | 527 | 15 | 3,256 | 32,575 | |
Issuance of Affiliate Note Payable | ||||||
0 | 0 | 11,600 | 0 | 0 | - | |
East Coast Storage Assets contingent consideration | ||||||
0 | 21,100 | 0 | 0 | - | - | |
Assets acquired under operating leases | ||||||
482 | 0 | 0 | - | - | - | |
Interest, net of capitalized interest of $526, $143, and $1,219 in 2019, 2018 and 2017, respectively | ||||||
46,539 | 39,716 | 29,231 | 28,550 | 17,017 | 2,153 | |
Interest Paid, Capitalized, Investing Activities | ||||||
526 | 143 | 1,219 | 118 | 0 | - | |
Knoxville Terminals Purchase [Member] | ||||||
Cash paid in acquisition | ||||||
0 | 58,356 | 0 | 0 | - | - | |
East Coast Storage Assets Acquisition [Member] | ||||||
Cash paid in acquisition | ||||||
0 | 74,989 | 0 | 0 | - | - | |
Deferred payment for East Coast Storage Assets Acquisition | ||||||
0 | 30,900 | 0 | 0 | - | - | |
Plains Asset Purchase [Member] | ||||||
Payments to Acquire Businesses, Gross | ||||||
- | - | - | 98,373 | - | - | |
Toledo Terminal [Member] | ||||||
Cash paid in acquisition | ||||||
0 | 0 | 10,097 | 0 | - | - | |
PBF LLC [Member] | ||||||
Distribution to PBF LLC related to Offering | ||||||
- | - | - | 0 | - | - | |
Development Assets Acquisition [Member] | ||||||
Stock Issued During Period, Value, New Issues | ||||||
0 | 31,586 | 0 | 0 | - | - | |
IDR Restructuring [Member] | ||||||
Units issued in connection with the IDR Restructuring | ||||||
215,300 | 0 | 0 | - | - | - | |