Alon USA Partners, LP

Disclaimer

Links to third-party websites are provided solely as a convenience to you. By following the link below, you will be taken to an independent web site that is not maintained by Alon. We do not endorse or make any representations as to the accuracy or completeness of any information, product or materials contained in any of these sites. If you decide to access any of the third-party sites linked to our web site, you do so entirely at your own risk.

Investor Center

Financials

v3.7.0.1
Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 109,034 $ 73,524
Accounts and other receivables, net 75,518 82,292
Accounts and other receivables, net - related parties 12,085 11,425
Inventories 50,518 49,682
Prepaid expenses and other current assets 4,883 4,949
Total current assets 252,038 221,872
Property, plant and equipment, net 416,838 420,554
Other assets, net 50,611 53,211
Total assets 719,487 695,637
Current liabilities:    
Accounts payable 301,183 249,835
Accrued liabilities 40,626 43,100
Current portion of long-term debt 2,500 2,500
Total current liabilities 344,309 295,435
Other non-current liabilities 24,765 62,880
Long-term debt 233,652 233,819
Total liabilities 602,726 592,134
Commitments and contingencies (Note 11)
Partners’ equity:    
General Partner 0 0
Common unitholders - 62,520,220 units issued and outstanding at March 31, 2017 and December 31, 2016 116,761 103,503
Total partners’ equity 116,761 103,503
Total liabilities and partners’ equity $ 719,487 $ 695,637
v3.7.0.1
Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Net sales [1] $ 544,532 $ 368,009
Operating costs and expenses:    
Cost of sales 470,471 319,333
Direct operating expenses 24,760 25,044
Selling, general and administrative expenses 6,764 7,309
Depreciation and amortization 14,229 14,206
Total operating costs and expenses 516,224 365,892
Operating income 28,308 2,117
Interest expense (7,845) (10,587)
Other income (loss), net (95) 84
Income (loss) before state income tax expense 20,368 (8,386)
State income tax expense 256 176
Net income (loss) $ 20,112 $ (8,562)
Earnings (loss) per unit $ 0.32 $ (0.14)
Weighted average common units outstanding (in thousands) 62,520 62,510
Cash distribution per unit $ 0.11 $ 0.08
[1] Includes sales to related parties of $91,000 and $63,110 for the three months ended March 31, 2017 and 2016, respectively
v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 20,112 $ (8,562)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 14,229 14,206
Unit-based compensation 23 10
Amortization of debt issuance costs 402 563
Amortization of original issuance discount 171 154
Changes in operating assets and liabilities:    
Accounts and other receivables, net 6,774 (9,335)
Accounts and other receivables, net - related parties (660) (1,527)
Inventories (836) 4,114
Prepaid expenses and other current assets 66 2,136
Other assets, net (1,246) (6,661)
Accounts payable 4,755 5,586
Accrued liabilities (3,381) 3,385
Other non-current liabilities 1,363 2,593
Net cash provided by operating activities 41,772 6,662
Cash flows from investing activities:    
Capital expenditures (5,026) (8,112)
Capital expenditures for turnarounds and catalysts (849) (2,681)
Net cash used in investing activities (5,875) (10,793)
Cash flows from financing activities:    
Distributions paid to unitholders (1,267) (921)
Distributions paid to unitholders - Alon Energy (5,610) (4,080)
RINs financing transactions 7,115 0
Payments on long-term debt (625) (625)
Net cash used in financing activities (387) (5,626)
Net increase (decrease) in cash and cash equivalents 35,510 (9,757)
Cash and cash equivalents, beginning of period 73,524 132,953
Cash and cash equivalents, end of period 109,034 123,196
Supplemental cash flow information:    
Cash paid for interest, net of capitalized interest 8,971 10,144
Cash paid for income tax 256 176
Supplemental disclosure of non-cash activity:    
Capital expenditures included in accounts payable and accrued liabilities $ 907 $ 0