Valero energy partners lp (VLP)
Income statement / Quarterly
Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Revenues – related party:
Operating Leases, Income Statement, Lease Revenue

110,954

112,078

108,251

105,326

99,952

85,811

84,657

81,112

-

-

-

-

-

-

-

-

-

-

-

-

Revenues from contracts with customer

28,314

28,512

26,376

26,616

26,352

23,529

25,888

24,704

-

-

-

-

-

-

-

-

-

-

-

-

Revenue from Related Parties

139,268

140,590

134,627

131,942

126,304

109,340

110,545

105,816

104,148

92,040

87,664

78,767

79,456

62,037

60,245

41,886

34,182

33,666

31,843

29,489

Costs and expenses:
Cost of revenues from lease contracts (excluding depreciation expense reflected below)

26,909

26,753

26,596

24,518

23,762

20,202

20,848

18,520

-

-

-

-

-

-

-

-

-

-

-

-

Cost of revenues from contracts with customer (excluding depreciation expense reflected below)

-

-

-

6,783

-

-

-

5,025

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation expense associated with lease contracts

16,115

15,946

15,849

15,589

13,182

9,288

9,450

9,030

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation expense associated with contracts with customer

-

-

-

2,951

-

-

-

2,745

-

-

-

-

-

-

-

-

-

-

-

-

Cost of revenues (excluding depreciation expense reflected below)

-

-

-

-

-

-

-

-

-

24,089

24,086

24,286

33,676

27,482

22,191

22,624

61,052

17,510

16,315

16,237

Depreciation expense

-

-

-

-

-

-

-

-

-

11,319

11,821

11,512

13,704

13,760

9,904

8,310

18,683

7,178

6,132

5,916

Other operating expenses

-

0

-

-

-

537

-

-

-

0

-

-

-

-

-

-

-

-

-

-

General and administrative expenses

8,350

4,082

4,158

4,112

3,991

3,865

3,863

3,830

3,791

4,094

3,715

4,365

3,825

3,731

3,312

3,652

4,011

3,133

3,361

3,097

Total costs and expenses

61,518

56,077

56,377

53,953

51,409

42,993

43,423

39,150

38,758

39,502

39,622

40,163

51,205

44,973

35,407

34,586

83,746

27,821

25,808

25,250

Operating Income (Loss)

77,750

84,513

78,250

77,989

74,895

66,347

67,122

66,666

65,390

52,538

48,042

38,604

28,251

17,064

24,838

7,300

-49,564

5,845

6,035

4,239

Other income, net

811

610

411

382

207

300

182

64

74

76

57

77

57

29

26

111

189

156

493

666

Interest Expense

14,541

14,348

14,271

11,908

10,428

8,747

8,551

8,289

5,333

3,672

3,251

2,659

2,748

1,353

1,411

601

209

214

221

228

Income before income tax expense

64,020

70,775

64,390

66,463

64,674

57,900

58,753

58,441

60,131

48,942

44,848

36,022

25,560

15,740

23,453

6,810

-49,584

5,787

6,307

4,677

Income Tax Expense (Benefit)

372

426

371

384

410

311

310

304

332

235

303

242

313

115

-51

-126

112

129

150

157

Net Income (Loss) Attributable to Parent

63,648

70,349

64,019

66,079

64,264

57,589

58,443

58,137

59,799

48,707

44,545

35,780

25,247

15,625

23,504

6,936

-49,696

5,658

6,157

4,520

Income (Loss) Attributable to Predecessor

-

-

-

-

-

-

-

-

0

-3,002

-4,902

-7,518

-19,420

-15,803

-10,158

-15,185

-68,752

-11,885

-6,043

-5,962

Income (Loss) Attributable To Partners

-

-

-

-

-

-

-

-

59,799

51,709

49,447

43,298

44,667

31,428

33,662

22,121

19,056

17,543

12,200

10,482

Less: Net income attributable to Predecessor

63,648

70,349

64,019

66,079

64,264

57,589

58,443

58,137

-

48,707

-

-

-

-

-

-

-

-

-

-

Net income attributable to partners

63,648

70,349

64,019

66,079

64,264

57,589

58,443

58,137

-

48,707

-

-

-

-

-

-

-

-

-

-

Less: General partner’s interest in net income

1,273

18,203

18,077

16,555

15,190

13,037

11,419

9,467

8,202

6,634

5,213

3,504

2,248

1,612

1,357

852

574

351

244

210

Limited partners’ interest in net income

62,375

52,146

45,942

49,524

49,074

44,552

47,024

48,670

51,597

45,075

44,234

39,794

42,419

29,816

32,305

21,269

18,482

17,192

11,956

10,272

Net income per limited partner unit – basic and diluted:
Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic and Diluted, Net of Tax

0.90

0.75

0.66

0.72

0.71

0.65

0.69

0.72

0.80

0.77

0.67

0.61

0.70

0.51

0.54

0.37

0.32

0.30

0.21

0.18

Subordinated units (in dollars per unit)

-

-

-

-

-

-

-

-

0.81

0.29

0.67

0.61

0.68

0.49

0.54

0.36

0.32

0.30

0.21

0.18

Weighted-average limited partner units outstanding – basic and diluted:
Common units  basic

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,790

-

28,790

Common units  diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,791

-

28,792

Weighted Average Number of Limited Partnership Units Outstanding, Basic and Diluted

69,248

69,251

69,251

69,250

68,896

68,163

68,157

67,664

67,601

53,899

37,248

36,520

34,066

30,698

30,698

29,426

-

-

28,790

-

Subordinated units (units)

-

-

-

-

-

-

-

-

-245

12,517

28,790

28,790

28,790

28,790

28,790

28,790

28,790

28,790

28,790

28,790

Cash distribution declared per unit (dollars per unit)

-

-

0.55

0.52

-

-

0.45

0.42

-

0.38

0.36

0.34

0.32

0.30

0.29

0.27

0.26

0.24

0.22

0.21