Alon USA Partners, LP

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Financials

v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 73,524 $ 132,953
Accounts and other receivables, net 82,292 59,581
Accounts and other receivables, net - related parties 11,425 8,005
Inventories 49,682 35,444
Prepaid expenses and other current assets 4,949 6,745
Total current assets 221,872 242,728
Property, plant and equipment, net 420,554 434,619
Other assets, net 53,211 71,237
Total assets 695,637 748,584
Current liabilities:    
Accounts payable 249,835 253,325
Accrued liabilities 43,100 40,707
Current portion of long-term debt 2,500 2,500
Total current liabilities 295,435 296,532
Other non-current liabilities 62,880 31,513
Long-term debt 233,819 289,582
Total liabilities 592,134 617,627
Commitments and contingencies (Note 15)
Partners’ equity:    
General Partner 0 0
Common unitholders - 62,520,220 and 62,510,039 units issued and outstanding at December 31, 2016 and 2015, respectively 103,503 130,957
Total partners’ equity 103,503 130,957
Total liabilities and partners’ equity $ 695,637 $ 748,584
v3.6.0.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net sales (1) [1] $ 1,807,732 $ 2,157,191 $ 3,221,373
Operating costs and expenses:      
Cost of sales 1,588,219 1,767,291 2,823,694
Direct operating expenses 97,338 98,929 105,760
Selling, general and administrative expenses 31,983 32,353 26,446
Depreciation and amortization 57,524 55,112 47,494
Total operating costs and expenses 1,775,064 1,953,685 3,003,394
Operating income 32,668 203,506 217,979
Interest expense (37,128) (45,987) (46,706)
Other income, net 593 52 646
Income (loss) before state income tax expense (3,867) 157,571 171,919
State income tax expense 537 672 2,784
Net income (loss) $ (4,404) $ 156,899 $ 169,135
Earnings (loss) per unit $ (0.07) $ 2.51 $ 2.71
Weighted average common units outstanding (in thousands) 62,516 62,509 62,505
Cash distribution per unit $ 0.37 $ 3.43 $ 2.02
[1] Includes sales to related parties of $307,497, $358,194 and $563,008 for the years ended December 31, 2016, 2015 and 2014, respectively.
v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ (4,404) $ 156,899 $ 169,135
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 57,524 55,112 47,494
Unit-based compensation 82 61 87
Deferred income taxes 0 (921) 657
Amortization of debt issuance costs 1,736 2,408 2,057
Amortization of original issuance discount 650 599 554
Changes in operating assets and liabilities:      
Accounts and other receivables, net (22,711) 8,964 55,236
Accounts and other receivables, net - related parties (3,420) 1,461 5,155
Inventories (14,238) 9,718 3,984
Prepaid expenses and other current assets 1,796 2,418 (4,521)
Other assets, net 6,068 (3,065) (12,371)
Accounts payable 59,549 27,031 (87,829)
Accrued liabilities 3,636 (14,325) 13,671
Other non-current liabilities (8,153) (6,615) 3,195
Net cash provided by operating activities 78,115 239,745 196,504
Cash flows from investing activities:      
Capital expenditures (23,587) (23,566) (16,064)
Capital expenditures for turnarounds and catalysts (9,764) (5,984) (58,736)
Net cash used in investing activities (33,351) (29,550) (74,800)
Cash flows from financing activities:      
Distributions paid to common unitholders (4,262) (39,475) (23,242)
Distributions paid to unitholders - Alon Energy (18,870) (174,930) (103,020)
RINs financing transactions (23,561) 40,138 (200)
Deferred debt issuance costs 0 (1,800) 0
Revolving credit facility, net (55,000) (5,000) (40,000)
Payments on long-term debt (2,500) (2,500) (2,500)
Net cash used in financing activities (104,193) (183,567) (168,962)
Net increase (decrease) in cash and cash equivalents (59,429) 26,628 (47,258)
Cash and cash equivalents, beginning of period 132,953 106,325 153,583
Cash and cash equivalents, end of period 73,524 132,953 106,325
Supplemental cash flow information:      
Cash paid for interest, net of capitalized interest 35,061 43,247 44,948
Cash paid for income tax 537 1,593 2,127
Supplemental disclosure of non-cash activity:      
Capital expenditures included in accounts payable and accrued liabilities $ 0 $ 466 $ 0