|
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Revenues: |
|
|
|
| Gathering services and other fees |
$ 174,506 |
$ 149,371 |
$ 91,421 |
| Natural gas, NGLs and condensate sales and other |
69,332 |
16,320 |
12,439 |
| Amortization of favorable and unfavorable contracts |
(1,032) |
(192) |
(308) |
| Total revenues |
242,806 |
165,499 |
103,552 |
| Costs and expenses: |
|
|
|
| Operation and maintenance |
59,972 |
51,658 |
29,855 |
| Cost of natural gas and NGLs |
31,036 |
0 |
0 |
| General and administrative |
24,558 |
21,357 |
17,476 |
| Transaction costs |
2,770 |
2,020 |
3,166 |
| Depreciation and amortization |
60,824 |
35,299 |
11,367 |
| Total costs and expenses |
179,160 |
110,334 |
61,864 |
| Other (expense) income |
(108) |
9 |
12 |
| Interest expense |
(19,173) |
(7,340) |
(1,029) |
| Affiliated interest expense |
0 |
(5,426) |
(2,025) |
| Income before income taxes |
44,365 |
42,408 |
38,646 |
| Income tax expense |
(729) |
(682) |
(695) |
| Net income |
43,636 |
41,726 |
37,951 |
| Less: net income attributable to the pre-IPO period |
0 |
24,112 |
|
| Less: net income attributable to SMP Holdings (Note 1) |
52 |
0 |
|
| Net income attributable to SMLP |
43,584 |
17,614 |
|
| Less: net income attributable to general partner, including IDRs |
1,035 |
352 |
|
| Net income attributable to limited partners |
$ 42,549 |
$ 17,262 |
|
| Earnings per common unit – basic (in dollars per unit) |
$ 0.86 |
$ 0.35 |
|
| Earnings per common unit – diluted (in dollars per unit) |
$ 0.86 |
$ 0.35 |
|
| Earnings per subordinated unit – basic and diluted (in dollars per unit) |
$ 0.79 |
$ 0.35 |
|
| Weighted-average common units outstanding – basic (in units) |
26,951,346 |
24,412,427 |
|
| Weighted-average common units outstanding – diluted (in units) |
27,101,479 |
24,543,985 |
|
| Weighted-average subordinated units outstanding – basic and diluted (in units) |
24,409,850 |
24,409,850 |
|