Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 13, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | OCIP | ||
Entity Registrant Name | OCI Partners LP | ||
Entity Central Index Key | 1,578,932 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 86,997,590 | ||
Entity Public Float | $ 132.1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 8,080 | $ 13,238 |
Accounts receivable | 22,170 | 28,554 |
Accounts receivable—related party | 1,322 | 5,180 |
Inventories | 7,543 | 5,974 |
Advances due from related parties | 525 | 56 |
Other current assets and prepaid expenses | 2,712 | 4,721 |
Total current assets | 42,352 | 57,723 |
Property, plant, and equipment, net of accumulated depreciation of $166,948 and $105,769 respectively | 620,214 | 674,699 |
Other non-current assets | 1,176 | 1,188 |
Total assets | 663,742 | 733,610 |
Current liabilities: | ||
Accounts payable | 20,557 | 19,363 |
Accounts payable—related party | 13,357 | 12,624 |
Other payables and accruals | 2,620 | 4,239 |
Revolving credit facility, net | 0 | 24,928 |
Revolving credit facility—related party | 35,000 | 0 |
Current maturities of the term loan facility | 4,480 | 4,480 |
Accrued interest | 2,523 | 3,416 |
Accrued interest—related party | 1,675 | 203 |
Other current liabilities | 1,942 | 4,975 |
Total current liabilities | 82,154 | 74,228 |
Term loan facility, net | 225,748 | 420,785 |
Term loan facility—related party | 200,000 | 0 |
Other non-current liabilities | 2,589 | 1,734 |
Total liabilities | 510,491 | 496,747 |
Partners’ capital: | ||
Common unitholders—86,997,590 units issued and outstanding at December 31, 2016 and 2015 | 153,251 | 236,863 |
General partner’s interest | 0 | 0 |
Total partners’ capital | 153,251 | 236,863 |
Total liabilities and partners’ capital | $ 663,742 | $ 733,610 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accumulated depreciation | $ 166,948 | $ 105,769 |
Common units, issued (in shares) | 86,997,590 | 86,997,590 |
Common units, outstanding (in shares) | 86,997,590 | 86,997,590 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Revenues | $ 247,234 | $ 298,690 | $ 402,780 |
Revenues—related party | 10,995 | 10,753 | 0 |
Total Revenue | 258,229 | 309,443 | 402,780 |
Cost of goods sold (exclusive of depreciation) | 162,810 | 149,463 | 205,529 |
Cost of goods sold (exclusive of depreciation)—related party | 16,259 | 16,353 | 13,266 |
Total cost of goods sold (exclusive of depreciation) | 179,069 | 165,816 | 218,795 |
Selling, general, and administrative expenses | 15,856 | 16,906 | 17,928 |
Selling, general, and administrative expenses—related party | 4,160 | 4,326 | 4,428 |
Total selling, general, and administrative expenses | 20,016 | 21,232 | 22,356 |
Depreciation expense | 61,441 | 49,663 | 23,105 |
Income (loss) from operations before interest expense, other income (expense) and income tax expense | (2,297) | 72,732 | 138,524 |
Interest expense | 45,096 | 20,018 | 18,250 |
Interest expense—related party | 1,777 | 203 | 203 |
Other income (expense) | (577) | 123 | 941 |
Income (loss) from operations before tax expense | (49,747) | 52,634 | 121,012 |
Income tax expense | 806 | 613 | 1,564 |
Net income (loss) | $ (50,553) | $ 52,021 | $ 119,448 |
Earnings (loss) per limited partner unit: | |||
Common unit (basic and diluted, in dollars per share) | $ (0.58) | $ 0.61 | $ 1.48 |
Weighted average number of limited partner units outstanding: | |||
Common units (basic and diluted, in units) | 86,997,590 | 85,970,912 | 80,918,531 |
Consolidated Statements of Part
Consolidated Statements of Partners' Capital - USD ($) $ in Thousands | Total | Common Units |
Beginning Balance, LP, Units at Dec. 31, 2013 | 80,500,000 | 80,500,000 |
Beginning Balance, LP at Dec. 31, 2013 | $ 151,371 | $ 151,371 |
Partners' Capital | ||
Distributions | (30,864) | (30,864) |
Distributions—related party | (111,891) | $ (111,891) |
Capital Contribution, Units | 2,995,372 | |
Capital contribution | 60,000 | $ 60,000 |
Net income (loss) | $ 119,448 | $ 119,448 |
Ending Balance, LP, Units at Dec. 31, 2014 | 83,495,372 | 83,495,372 |
Ending Balance, LP at Dec. 31, 2014 | $ 188,064 | $ 188,064 |
Partners' Capital | ||
Distributions | (12,950) | (12,950) |
Distributions—related party | (50,272) | $ (50,272) |
Capital Contribution, Units | 3,502,218 | |
Capital contribution | 60,000 | $ 60,000 |
Net income (loss) | $ 52,021 | $ 52,021 |
Ending Balance, LP, Units at Dec. 31, 2015 | 86,997,590 | 86,997,590 |
Ending Balance, LP at Dec. 31, 2015 | $ 236,863 | $ 236,863 |
Partners' Capital | ||
Distributions | (6,650) | (6,650) |
Distributions—related party | (26,409) | (26,409) |
Net income (loss) | $ (50,553) | $ (50,553) |
Ending Balance, LP, Units at Dec. 31, 2016 | 86,997,590 | 86,997,590 |
Ending Balance, LP at Dec. 31, 2016 | $ 153,251 | $ 153,251 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Cash flows from operating activities: | |||
Net income (loss) | $ (50,553) | $ 52,021 | $ 119,448 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation expense | 61,441 | 49,663 | 23,105 |
Amortization of debt issuance costs | 11,552 | 3,710 | 2,815 |
(Gain) loss on disposition of fixed assets | 567 | (16) | 0 |
Deferred income tax expense | 855 | 557 | 419 |
Decrease (increase) in: | |||
Restricted cash | 0 | 0 | 282 |
Accounts receivable | 6,384 | 7,253 | 9,207 |
Accounts receivable—related party | 3,858 | (5,180) | 0 |
Inventories | (1,569) | 178 | (2,166) |
Advances due from related parties | (469) | 41 | 253 |
Other non-current assets, other current assets and prepaid expenses | 2,021 | (858) | (596) |
Increase (decrease) in: | |||
Accounts payable | 491 | (2,106) | 2,246 |
Accounts payable—related party | 861 | 1,511 | (671) |
Other payables, accruals, and current liabilities | (4,710) | 1,672 | 3,438 |
Accrued interest | (893) | (7,480) | (6,746) |
Accrued interest—related party | 1,776 | (17) | 203 |
Net cash provided by operating activities | 31,612 | 100,949 | 151,237 |
Cash flows from investing activities: | |||
Purchase of property, plant, and equipment | (6,785) | (223,540) | (152,160) |
Proceeds from sale of scrap equipment | 24 | 2,503 | 0 |
Net cash used in investing activities | (6,761) | (221,037) | (152,160) |
Cash flows from financing activities: | |||
Proceeds from revolving credit facility | 69,500 | 40,000 | 0 |
Proceeds from term loan B credit facility | 0 | 50,000 | 0 |
Repayment of revolving credit facility | (94,500) | (15,000) | 0 |
Repayment of term loan B credit facility | (204,480) | (4,230) | (3,985) |
Repayment of revolving credit facility—related party | (34,170) | 0 | 0 |
Cash contributions by member | 0 | 60,000 | 60,000 |
Debt issuance costs | (2,038) | (5,701) | (5,982) |
Remittance of cash to OCI USA for transferred trade receivables | (432) | (331) | (17,522) |
Distribution to Unitholders | (6,650) | (12,950) | (30,864) |
Distribution to Unitholders—related party | (26,409) | (50,272) | (111,891) |
Net cash provided by (used in) financing activities | (30,009) | 61,516 | (110,244) |
Net decrease in cash and cash equivalents | (5,158) | (58,572) | (111,167) |
Cash and cash equivalents, beginning of period | 13,238 | 71,810 | 182,977 |
Cash and cash equivalents, end of period | 8,080 | 13,238 | 71,810 |
Supplemental cash disclosures: | |||
Cash paid for income taxes | 100 | 1,200 | 1,350 |
Cash paid for interest, net of amount capitalized | 34,376 | 15,166 | 15,772 |
Cash paid for interest, net of amount capitalized—related party | 0 | 220 | 0 |
Supplemental non-cash disclosures: | |||
Accruals of property, plant and equipment purchases | 1,359 | 598 | 25,298 |
Accruals of property, plant and equipment purchases—related party | 0 | 0 | 25,834 |
Capitalized interest | 0 | 8,586 | 6,410 |
Noncash settlement for accrued interest—related party | 304 | 0 | 0 |
Revolving Credit Facility | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Amortization of debt issuance costs | 103 | 295 | 395 |
Cash flows from financing activities: | |||
Proceeds from related party debt | 69,170 | 0 | 0 |
Term Loan Facility | |||
Cash flows from financing activities: | |||
Proceeds from related party debt | $ 200,000 | $ 0 | $ 0 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | Description of Business Description of Business OCI Partners LP (the “Partnership,” “OCIP,” “we,” “us,” or “our”) is a Delaware limited partnership formed on February 7, 2013 whose focus is on the production, marketing and distribution of methanol and anhydrous ammonia. Our production facility is strategically located on the U.S. Gulf Coast near Beaumont, Texas and commenced full operations during August 2012. Our facility has pipeline connections to adjacent customers, port access with dedicated methanol and ammonia import/export jetties, allowing us to ship both products along the Gulf Coast, and truck loading facilities for both methanol and ammonia. We are currently one of the larger merchant methanol producers in the United States with an annual methanol production design capacity of approximately 912,500 metric tons and an annual ammonia production design capacity of approximately 331,000 metric tons. During 2015, we executed a debottlenecking project on our production facility that included a maintenance turnaround and environmental upgrades, which we collectively refer to as our “debottlenecking project.” This project increased our annual methanol and ammonia production design capacity by 25% . Beginning in January of 2015, we shut down our methanol production unit for 82 days and our ammonia production unit for 71 days in order to complete the debottlenecking project. We began start-up of the ammonia production facility on April 9, 2015 , and reached daily ammonia production design capacity on May 5, 2015 . We began start-up of the methanol production facility on April 22, 2015 , and we reached daily methanol design capacity on May 23, 2015 . As discussed further below, the Partnership completed its initial public offering (“IPO”), and OCI USA, Inc. (“OCI USA”) contributed all of its equity interests in OCI Beaumont LLC (“OCIB”) to the Partnership on October 9, 2013. Prior to the completion of the IPO, OCIB was a direct, wholly-owned subsidiary of OCI USA, a Delaware corporation, which is an indirect, wholly-owned subsidiary of OCI Fertilizer International B.V. (“OCI Fertilizer”), a Dutch private limited liability company. OCI Fertilizer is an indirect, wholly-owned subsidiary of OCI N.V. (“OCI”), a Dutch public limited liability company, which is the ultimate parent for a group of related entities. OCIB is a Texas limited liability company formed on December 10, 2010 as the acquisition vehicle to purchase the manufacturing facility and related assets offered for sale by Eastman Chemical Company on May 5, 2011 for $26,500 . OCI, through its subsidiaries, is a global producer of natural gas based fertilizers and chemicals. OCI is listed on the NYSE Euronext Amsterdam and trades under the symbol “OCI.” Initial Public Offering On October 4, 2013, the Partnership priced 17,500,000 common units in its IPO to the public at a price of $18.00 per unit, and the aggregate gross proceeds totaled $315,000 . On October 4, 2013 , the Partnership’s common units began trading on the New York Stock Exchange (“NYSE”) under the symbol “OCIP.” On October 9, 2013, the Partnership closed its IPO of 17,500,000 common units. In connection with the closing of the IPO, OCI USA contributed its interests in OCIB to the Partnership, and the Partnership issued an aggregate of 60,375,000 common units to OCI USA on October 9, 2013. On November 4, 2013, in connection with the expiration of the underwriters’ over-allotment option period, the Partnership issued an additional 2,625,000 common units to OCI USA pursuant to the terms of the underwriting agreement and contribution agreement entered into in connection with the IPO. Unless the context otherwise requires, references in this report to the “Predecessor,” “Company,” “we,” “our,” “us,” or like terms, when used in a historical context (periods prior to October 9, 2013, the closing date of the IPO), refer to OCIB, our Predecessor for accounting purposes. References in this report to “OCI Partners LP,” “Partnership,” “we,” “our,” “us,” or like terms, when used in the present tense or prospectively (after October 9, 2013, the closing date of the IPO), refer to OCI Partners LP and its subsidiaries. Prior to the completion of the IPO, certain assets of OCIB were distributed to OCI USA. In October 2013, OCIB distributed $56,700 of cash and $35,616 of accounts receivable to OCI USA, which was comprised of $8,056 of advances due from related party and $27,560 of trade receivables. All collections of transferred advances due from related parties have been received directly by OCI USA and all collections of transferred trade receivables have been received by the Partnership and will be remitted to OCI USA. As of December 31, 2016 , we have remitted a total of $ 18,285 of the collections of the transferred trade receivables to OCI USA, and the remaining balance of $ 9,579 is recorded in accounts payable—related party on the consolidated balance sheet as of December 31, 2016 . Presentation The consolidated financial statements include the accounts of the Partnership and its subsidiary. A subsidiary is an entity over which the Partnership has control. Subsidiaries are fully consolidated from the date on which control is transferred to the Partnership and are deconsolidated from the date that control ceases. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies (a) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accuracy of estimates is based on accuracy of information used. Significant items subject to such estimates and assumptions include the useful lives of property, plant, and equipment, the valuation of property, plant, and equipment, and other contingencies. (b) Cash and Cash Equivalents Cash and cash equivalents consist of balances held in the Partnership’s bank accounts less outstanding payments. (c) Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the consolidated statements of cash flows. The Partnership maintains a customer-specific allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers customers’ financial condition, the amount of receivables in dispute, the current receivables aging, and current payment patterns. The Partnership reviews its allowance for doubtful accounts monthly. Past–due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. There was no allowance for doubtful accounts and no bad debt write-offs during the years ended December 31, 2016 and 2015 . The Partnership does not have any off-balance-sheet credit exposure related to its customers. During the years ended December 31, 2016 , 2015 and 2014 , the following customers accounted for 10% or more of the Partnership’s revenues: Percentage of Revenues Customer name 2016 2015 2014 Methanex 35 % 26 % 33 % Koch (1) 24 % 26 % 29 % Interoceanic Corporation (IOC) 14 % 15 % 15 % _____________________________________ (1) Figure presented includes sales to Koch Nitrogen International Sarl, Koch Fertilizier LLC and Koch Methanol LLC. The loss of any one or more of the Partnership’s significant customers noted above may have a material adverse effect on the Partnership’s future results of operations. (d) Inventories Inventories are stated at the lower of cost or market, using standard cost method for finished goods, work in process, raw materials, and supplies inventory. The standard cost of finished goods is the product of the standard cost of our raw materials and quantities of raw materials consumed, based on normal capacity. We review our standard costs monthly and update them as appropriate to approximate actual costs. We also allocate a portion of fixed production overhead to inventory based on the normal capacity of our production facilities. Normal capacity is defined as “the production expected to be achieved over a number of periods under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.” The Partnership records variances, abnormal amounts of idle facility expense, freight, handling costs, and wasted material (spoilage) as current period charges. The Partnership’s raw materials are consumed immediately upon delivery. (e) Revenue Recognition The Partnership recognizes revenue when products are shipped and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists, and the sales price is fixed or determinable. Revenue for barge sales is recognized when risk and title to the product transfer to the customer, which occurs at the time shipment is made (free on board shipping point). Revenue for pipeline sales is recognized when risk and title to the product transfer to the customer, which occurs at the time when meter ticket delivery is received (free on board shipping destination). Revenue for truck sales is recognized when risk and title to the product transfer to the customer, which occurs when the Partnership’s product is received by the common carrier (free on board shipping point). Below is a summary of revenues by product for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Ammonia $ 83,978 $ 99,443 $ 126,808 Methanol 174,236 209,654 275,553 Other 15 346 419 Total $ 258,229 $ 309,443 $ 402,780 (f) Property, Plant, and Equipment Property, plant, and equipment are stated at cost. Depreciation is computed using principally the straight-line method over the estimated useful life of the various classes of depreciable assets. The lives used in computing depreciation for such assets are as follows: Asset Range of Useful Lives, in Years Buildings 30 Machinery and equipment 4 to 15 Automotive equipment 5 Furniture and fixtures 5 In the accompanying consolidated statements of operations, the Partnership’s policy is to exclude depreciation expense from cost of sales. (g) Maintenance and Turnaround Activities The Partnership incurs maintenance costs on its facilities and equipment. Routine repair and maintenance costs are expensed as incurred. For the years ended December 31, 2016 , 2015 and 2014 , we expensed approximately $17,520 , $22,952 and $27,287 , respectively, of routine repair and maintenance costs. (h) Income Taxes The Partnership is a Delaware limited partnership and is not a taxable entity; however, the Partnership is subject to Texas Margin Taxes. Each partner of a partnership is required to take into account his share of items of income, gain, loss and deduction of the Partnership in computing his federal income tax liability. As of December 31, 2016 , the tax basis of our assets and liabilities were $379,479 less than the reported amount of our assets and liabilities. OCIB is a Texas limited liability company with disregarded tax status (i.e., nontaxable pass-through entity) for U.S. federal income tax purposes and, therefore, is not subject to U.S. federal income taxes; however, OCIB is subject to Texas Margin Taxes. As of and for the years ended December 31, 2016 , 2015 and 2014 , we recorded Texas Margin Taxes of $806 , $613 and $1,564 , respectively, in income tax expense in the accompanying consolidated statements of operations. (i) Commitments and Contingencies Liabilities for loss contingencies, including environmental remediation costs not within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations , arising from claims, assessments, litigation, fines, and penalties and other sources, are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study. Such accruals are adjusted as further information develops or circumstances change. Costs of expected future expenditures for environment remediation obligations are not discounted to their present value. As of December 31, 2016 , 2015 and 2014 , the Partnership had no environmental remediation obligations. (j) Impairment of Long-Lived Assets Long-lived assets, such as property, plant, and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Partnership first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. No events or changes in circumstances occurred during the years ended December 31, 2016 , 2015 and 2014 , that indicated the carrying amount of an asset may not be recoverable. (k) Capitalized Interest The Partnership’s policy is to capitalize interest costs incurred on indebtedness during the construction of major projects. A reconciliation of total interest costs to interest expense as reported in the consolidated statements of operations for 2016 , 2015 and 2014 is as follows: 2016 2015 2014 Interest cost capitalized $ — $ 8,586 $ 6,410 Interest cost charged to income (1) 45,096 20,018 18,250 Interest cost charged to income—related party 1,777 203 203 Total interest cost $ 46,873 $ 28,807 $ 24,863 _____________________________________ (1) Includes $11,552 , $3,710 and $2,815 of amortized debt issuance costs for the years ended December 31, 2016 , 2015 and 2014 (note 6(b)). (l) Fair Value Measurement The Partnership’s receivables and payables are short–term nature and therefore, the carrying amount approximates their respective fair values as of December 31, 2016 and 2015 . Debt (including related party debt) accrues interest at a variable rate, and as such, the fair value approximates its carrying amount as of December 31, 2016 and 2015 . |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues Accounting Standards Updates (“ASU”) to communicate changes to the codification. The Partnership considers the applicability and impact of all ASU’s. The following are those ASU’s that are relevant to the Partnership. On August 29, 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 provides guidance on the cash flow reporting of certain issues that were either unclear or not addressed under existing U.S. GAAP. The standard requires the retrospective transition method and is effective for annual and interim periods in the fiscal years beginning after December 15, 2017, although early adoption is permitted. The adoption of ASU 2016-15 on January 1, 2018 is not expected to have a material impact on the Partnership's consolidated financial statements or disclosures. On November 20, 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The FASB issued this ASU as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and International Financial Reporting Standards (“IFRS”). Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simply the presentation of deferred income taxes and to align the presentation of deferred income tax assets and liabilities with IFRS, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. A reporting entity can apply the amendments either prospectively or retrospectively, with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-17 on January 1, 2017 is not expected to have a material impact on the Partnership’s consolidated financial statements or disclosures. On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The FASB issued this ASU as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and IFRS. The amendments in ASU 2015-11 change the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within fiscal years beginning after December 15, 2017. A reporting entity should apply the amendments prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-11 on January 1, 2017 is not expected to have a material impact on the Partnership’s consolidated financial statements or disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern.” ASU 2014-15 requires a Company's management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The adoption of ASU 2014-15 as of December 31, 2016 did not impact the Partnership’s consolidated financial statements or disclosures. On May 28, 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard is effective for interim and annual periods beginning after December 15, 2017 and permits the use of either retrospective, modified retrospective, or cumulative effect transition method. Early adoption is permitted for annual periods beginning after December 15, 2016. The Partnership will adopt ASU 2014-09 on January 1, 2018 and is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Partnership has formed a project team that has completed training on the new ASU and has started contract review and documentation. The Partnership has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment 2016 2015 Land $ 3,371 $ 3,371 Plant and equipment 766,263 759,209 Buildings 14,685 14,612 Vehicles 55 118 Furniture, Fixtures & Office Equipment 629 423 Construction in progress 2,159 2,735 787,162 780,468 Less: accumulated depreciation 166,948 105,769 $ 620,214 $ 674,699 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories As of December 31, 2016 and 2015 , the Partnership’s inventories consisted of finished goods produced from normal production, and the Partnership had no raw materials and/or work-in-progress inventories. Below is a summary of inventories balances by product as of December 31, 2016 and 2015 : 2016 2015 Ammonia $ 4,192 $ 2,982 Methanol 3,351 2,992 Total $ 7,543 $ 5,974 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt | Debt (a) Debt—Related Party December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility—Related Party $ 35,000 3.50% + LIBOR + 0.25% 4.63 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan Facility — Related Party $ 200,000 6.75% + Adjusted LIBOR + 0.25% 8.28 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Original Revolving Credit Facility—Related Party $ — 5.50% + Adjusted LIBOR + 0.25% 6.75 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Original Term Loan Facility—Related Party $ — 5.50% + Adjusted LIBOR + 0.25% 6.75 % January 20, 2020 On September 15, 2016, the previously existing $40,000 intercompany revolving facility agreement between OCIB and OCI Fertilizer (the "Original Revolving Credit Facility—Related Party") was terminated and replaced with an revolving credit facility—related party agreement with OCI USA (the “Revolving Credit Facility—Related Party”), which became effective on November 30, 2016. The Revolving Credit Facility—Related Party has a borrowing capacity of $ 40,000 and a maturity date of January 20, 2020 . The amount that can be drawn under the Revolving Credit Facility—Related Party is limited by the Revolving Credit Facility (as defined below) to $ 40,000 minus the amount of indebtedness outstanding under the Revolving Credit Facility. Borrowings under the Revolving Credit Facility—Related Party bear interest at a rate equal to the sum of (i) the rate per annum applicable to the Revolving Credit Facility (including as such per annum rate may fluctuate from time to time in accordance with the terms of the agreement governing the Revolving Credit Facility) discussed in note 6(b), plus (ii) 0.25% . OCIB pays a commitment fee to OCI USA under the Revolving Credit Facility—Related Party on the undrawn available portion at a rate of 0.5% per annum, which is included as a component of interest expense—related party on the consolidated statements of operations. The Revolving Credit Facility—Related Party is subordinated to indebtedness under the Term Loan B Credit Facility (as defined below) and the Revolving Credit Facility. As of December 31, 2016 , OCIB had $35,000 drawn under the Revolving Credit Facility—Related Party. On September 15, 2016, the previously existing intercompany term facility between OCIB and OCI Fertilizer (the "Original Term Loan Facility—Related Party") was terminated and replaced with a term loan facility—related party agreement with OCI USA. On November 30, 2016, the term loan facility—related party agreement was amended and restated (as so amended and restated, the “Term Loan Facility—Related Party”) to provide for the option by OCIB to pay PIK Interest (as described below). The Term Loan Facility—Related Party became effective on November 30, 2016 and has a borrowing capacity of $200,000 and a maturity date of January 20, 2020 . Borrowings under the Term Loan Facility—Related Party are subordinated to the Term B Loans (as defined below) under the Term Loan B Credit Facility and the Revolving Credit Facility. Borrowings under the Term Loan Facility—Related Party bear interest at a rate equal to the sum of (i) the rate per annum applicable to the Term B Loans (including as such per annum rate may fluctuate from time to time in accordance with the terms of the agreement governing the Term Loan B Credit Facility) discussed in note 6(b) plus (ii) 0.25% . Such interest is payable on or before the date that is two business days after each payment of interest under the Term Loan B Credit Facility either, at the election of OCIB, (i) in cash or (ii) in-kind (“PIK Interest”) on which date (in the case of PIK Interest) such accrued interest shall be added to the principal amount of the loan outstanding and accrue interest as set forth in the Term Loan Facility—Related Party. On November 30, 2016, OCIB borrowed $200,000 under the Term Loan Facility—Related Party to prepay a portion of the Term B Loans as discussed in note 6(b). As of December 31, 2016 , OCIB had $200,000 drawn under the Term Loan Facility—Related Party. (b) Debt—Third Party December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 236,305 6.75% + Adjusted LIBOR 8.03 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 6,077 Term Loan Facility, Net $ 225,748 December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility $ 25,000 2.75% + LIBOR 3.08 % March 12, 2016 Less: Unamortized Debit Issue Costs 72 Revolving Credit Facility, Net $ 24,928 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 440,785 5.50% + Adjusted LIBOR 6.50 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 15,520 Term Loan Facility, Net $ 420,785 Term Loan B Credit Facility and Amendments Thereto On August 20, 2013, OCIB and OCI USA entered into a senior secured term loan facility agreement (as amended, supplemented or restated from time to time, the “Term Loan B Credit Facility”) with a syndicate of lenders. The Partnership subsequently became a party to the Term Loan B Credit Facility through a credit agreement joinder, dated as of October 18, 2013. After the payment in full of one tranche during October 2013 and prior to July 2015, the Term Loan B Credit Facility was comprised of two tranches of term debt in the amounts of $235,000 (the “Term B-2 Loan”) and $165,000 (the “Term B-3 Loan” and together with the Term B-2 Loan, the “Existing Term B Loans”), respectively. On March 12, 2015, OCIB, the Partnership and OCI USA entered into Amendment No. 4 (“Term Loan Amendment No. 4”) to the Term Loan B Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto to (i) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.25 for the quarter ending March 31, 2015, (ii) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.50 for the quarters ending June 30, 2015 and September 30, 2015, (iii) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.25 for the quarter ending December 31, 2015, (iv) increase the interest rate margin on the outstanding term loans under the Term Loan B Facility such that OCIB may select an interest rate of (a) 4.50% above London Interbank Offered Rate ("LIBOR") for LIBO Rate Term Loans (as defined in the Term Loan B Credit Facility) or (b) 3.50% above the Base Rate for Base Rate Term Loans (as each such term is defined in the Term Loan B Credit Facility), (v) applied a prepayment premium (A) with respect to any voluntary prepayment of Existing Term B-3 Loans (including in connection with the incurrence of refinancing indebtedness), of 3% of the principal amount of the Existing Term B-3 Loans so prepaid on or prior to the first anniversary of the Term Loan Amendment No. 4 effective date, stepping down to 2% after the first anniversary thereof but on or prior to the second anniversary thereof, and to par thereafter and (B) with respect to any amendment to the Term Loan B Credit Facility resulting in a Repricing Transaction (as defined in the Term Loan B Credit Facility), of 3% of the principal amount of the Existing Term B-3 Loans so repriced on or prior to the first anniversary of the Term Loan Amendment No. 4 effective date, stepping down to 2% after the first anniversary thereof but on or prior to the second anniversary thereof and to 1% after the second anniversary thereof but on or prior to the third anniversary thereof and to par thereafter and (vi) make certain technical changes to certain defined terms. On July 2, 2015, OCIB, the Partnership and OCI USA entered into an Incremental Term Loan Commitment Agreement (the “Incremental Term Loan Agreement”) with Bank of America, N.A., as administrative agent and lender thereunder, pursuant to which OCIB incurred an incremental term loan in the principal amount of $50,000 (the “Term B-4 Loan”) under the Term Loan B Credit Facility. The Term B-4 Loan has terms and provisions identical to the Existing Term B-3 Loans, and the Term B-4 Loan and the Existing Term B-3 Loans collectively comprise a single tranche of Term B Loans under the Term Loan B Credit Facility. On October 16, 2015, OCIB, the Partnership and OCI USA entered into Amendment No. 5 and Waiver (“Term Loan Amendment No. 5”) to the Term Loan B Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Term Loan Amendment No. 5 (i) increased the maximum consolidated senior secured net leverage ratio from 2.50 to 3.75 for the quarter ending September 30, 2015, (ii) increased the maximum consolidated senior secured net leverage ratio from 2.25 to 3.75 for the quarter ending December 31, 2015, (iii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 3.75 for the quarter ending March 31, 2016, (iv) decreased the minimum consolidated interest coverage ratio from 5.00 to 3.50 for the quarters ending September 30, 2015, December 31, 2015 and March 31, 2016, and (v) increased the interest rate margin on the outstanding term loans under the Term Loan B Credit Facility such that OCIB may select an interest rate of (a) 5.50% above LIBOR for the Term B Tranche of LIBO Rate Term Loans (as defined in the Term Loan B Credit Facility) or (b) 4.50% above the Base Rate for the Term B Tranche of Base Rate Term Loans (as each such term is defined in the Term Loan B Credit Facility). On March 17, 2016, OCIB, the Partnership and OCI USA entered into Amendment No. 6 (“Term Loan Amendment No. 6”) to the Term Loan B Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Term Loan Amendment No. 6 (i) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 4.25 for the quarter ending June 30, 2016, (ii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 4.75 for the quarter ending September 30, 2016, (iii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 5.00 for the quarters ending December 31, 2016 and March 31, 2017, (iv) decreased the minimum consolidated interest coverage ratio from 5.00 to 3.00 for the quarter ending June 30, 2016 and to 2.50 for the quarters ending September 30, 2016, December 31, 2016 and March 31, 2017, and (v) increased the interest rate margin on the outstanding term loans under the Term Loan B Credit Facility such that OCIB may select an interest rate of (a) 6.75% above LIBOR for the Term B Tranche of LIBO Rate Term Loans (as defined in the Term Loan B Credit Facility) or (b) 5.75% above the Base Rate for the Term B Tranche of Base Rate Term Loans (as each such term is defined in the Term Loan B Credit Facility. On November 30, 2016, OCIB utilized the funds borrowed under the Term Loan Facility—Related Party (see note 6(a)) to prepay $200,000 of Term B Loans under the Term B Loan Credit Facility and entered into Amendment No. 7 to the Term Loan B Credit Facility ("Term Loan Amendment No. 7”) with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Term Loan Amendment No. 7, among other things, (i) increased the maximum consolidated senior secured net leverage ratio covenant (a) from 5.00 to 6.25 for the quarter ending March 31, 2017, (b) from 1.75 to 5.50 for the quarters ending June 30, 2017 and September 30, 2017, (c) from 1.75 to 5.25 for the quarter ending December 31, 2017, and (d) from 1.75 to 4.75 for the quarter ending March 31, 2018 and for each fiscal quarter ending thereafter, (ii) decreased the minimum consolidated interest coverage ratio covenant (a) from 2.50 to 1.25 for the quarters ending December 31, 2016 and March 31, 2017, (b) from 5.00 to 1.50 for the quarter ending June 30, 2017, (c) from 5.00 to 1.75 for the quarter ending September 30, 2017 and (d) from 5.00 to 2.25 for the quarter ending December 31, 2017 and for each fiscal quarter ending thereafter, and (iii) amended the calculation of the interest coverage ratio by excluding interest recorded on subordinated debt from the calculation. As a result of the $200,000 principal prepayment on November 30, 2016, we accelerated amortization in the amount of $7,600 of unamortized deferred financing fees, which is included as a component of interest expense in the accompanying consolidated statement of operations. The Term B Loans mature on August 20, 2019 and are subject to certain mandatory prepayment obligations upon the disposition of certain assets and the incurrence of certain indebtedness. The Term B Loans are also subject to mandatory quarterly repayments equal to $1,120 . Scheduled maturities with respect to the Term Loan B Credit Facility are as follows: Fiscal Year 2017 $ 4,480 2018 4,480 2019 227,345 Total $ 236,305 The Term B Loans, as well as related fees and expenses, are unconditionally guaranteed by OCI USA, the Partnership and certain of its future subsidiaries other than OCIB. The Term B Loans, and related fees and expenses, are secured by a first priority lien on substantially all of OCIB’s and the Partnership's assets (OCI USA does not provide any security with its guarantee). The Term Loan B Credit Facility contains customary covenants and conditions, including limitations on our ability to finance future operations or capital needs or to engage in other business activities. These restrictions and covenants will limit our ability, among other things, to: • incur additional indebtedness; • create liens on assets; • engage in mergers or consolidations; • sell assets; • pay dividends and distributions or repurchase our common units; • make investments, loans or advances; • prepay certain subordinated indebtedness; • make certain acquisitions or enter into agreements with respect to our equity interests; and • engage in certain transactions with affiliates. In addition, as of December 31, 2016 , OCIB may not permit, on the last day of any fiscal quarter (i) the consolidated senior secured net leverage ratio to exceed (a) in the fiscal quarter ending December 31, 2016, 5.00 to 1.00, (b) in the fiscal quarter ending March 31, 2017, 6.25 to 1.00, (c) in the fiscal quarters ending June 30, 2017 and September 30, 2017, 5.50 to 1.00, (d) in the fiscal quarter ending December 31, 2017, 5.25 to 1.00, and (e) 4.75 to 1.00, each fiscal quarter thereafter and (ii) the consolidated interest coverage ratio on the last day of any fiscal quarter to be less than (a) 1.25 to 1.00, for the fiscal quarters ending December 31, 2016 and March 31, 2017, (b) 1.50 to 1.00, for the fiscal quarter ending June 30, 2017, (c) 1.75 to 1.00, for the fiscal quarter ending September 30, 2017, and (d) 2.25 to 1.00 for the fiscal quarter ending December 31, 2017 and for each fiscal quarter ending thereafter. The consolidated senior secured net leverage ratio is defined as the ratio of (i) (A) consolidated senior secured debt less (B) the aggregate amount of unrestricted cash and cash equivalents included on the consolidated balance sheet to (ii) consolidated EBITDA for the last four quarters. The consolidated interest coverage ratio is defined as the ratio of (i) consolidated EBITDA for the last four quarters to (ii) consolidated interest expense for the last four quarters. For the period ending December 31, 2016 , we applied the Consolidated EBITDA Material Project Adjustments (as defined in the Term Loan B Credit Facility) to our calculation of Consolidated EBITDA (as defined in the Term Loan B Credit Facility) in computing the aforementioned ratios. As of December 31, 2016 , OCIB’s consolidated senior secured net leverage ratio was 3.18 to 1.00, and its consolidated interest coverage ratio was 1.57 to 1.00. Upon the occurrence of certain events of default under the Term Loan B Credit Facility OCIB’s obligations under the Term Loan B Credit Facility may be accelerated. The Term Loan B Credit Facility also contains various nonfinancial covenants, which include, among others, undertakings with respect to reporting requirements, maintenance of specified insurance coverage, and compliance with applicable laws and regulations. As of December 31, 2016 , the Partnership was in compliance with all these covenants. The Term Loan B Credit Facility contains events of default customary for credit facilities of this nature, including, but not limited to, the failure to pay any principal, interest or fees when due, failure to satisfy any covenant, untrue representations or warranties, impairment of liens, events of default under any other loan document, default under any other material debt agreements, insolvency, certain bankruptcy proceedings, change of control and material litigation resulting in a final judgment against any borrower or subsidiary guarantor. Upon the occurrence and during the continuation of an event of default under the Term Loan B Credit Facility, the lenders may, among other things, accelerate and declare the outstanding loans to be immediately due and payable and exercise remedies against OCIB, the Partnership and the collateral as may be available to the lenders under the Term Loan B Credit Facility and other loan documents. Revolving Credit Facility and Amendments Thereto On April 4, 2014, OCIB as borrower, the Partnership as a guarantor, Bank of America, N.A. as administrative agent and a syndicate of lenders entered into a revolving credit facility agreement (as amended, supplemented or restated from time to time, the “Revolving Credit Facility”), with an initial aggregate borrowing capacity of up to $40,000 (less any amounts borrowed under the Revolving Credit Facility—Related Party (as defined in note 6(a)), including a $20,000 sublimit for letters of credit. The proceeds from this facility are used by OCIB for working capital, capital expenditures and other general corporate purposes. On March 12, 2015, OCIB and the Partnership entered into Revolving Credit Amendment No. 2 (“Revolving Credit Amendment No. 2”) to the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto to (i) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.25 for the quarter ending March 31, 2015, (ii) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.50 for the quarters ending June 30, 2015 and September 30, 2015, (iii) increase the maximum consolidated senior secured net leverage ratio from 1.75 to 2.25 for the quarter ending December 31, 2015, (iv) extend the maturity of the Revolving Credit Facility until March 12, 2016 , (v) suspended the requirement to repay in full all outstanding revolving loans under the Revolving Credit Facility on the last business day of each June and December for the calendar year 2015 and (vii) made certain technical changes to certain defined terms. On October 16, 2015, OCIB, the Partnership and OCI USA entered into Amendment No. 3 and Waiver (“Revolving Credit Amendment No. 3”) to the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Revolving Credit Amendment No. 3 (i) increased the maximum consolidated senior secured net leverage ratio from 2.50 to 3.75 for the quarter ending September 30, 2015, (ii) increased the maximum consolidated senior secured net leverage ratio from 2.25 to 3.75 for the quarter ending December 31, 2015, (iii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 3.75 for the quarter ending March 31, 2016, and (iv) decreased the minimum consolidated interest coverage ratio from 5.00 to 3.50 for the quarters ending September 30, 2015, December 31, 2015 and March 31, 2016. On March 11, 2016, OCIB, the Partnership and OCI USA entered into Amendment No. 4 (“Revolving Credit Amendment No. 4”) to the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Revolving Credit Amendment No. 4 extended the maturity of the Revolving Credit Facility until March 31, 2016 . On March 17, 2016, OCIB, the Partnership and OCI USA entered into Amendment No. 5 (“Revolving Credit Amendment No. 5”) to the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Revolving Credit Amendment No. 5, among other things (i) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 4.25 for the quarter ending June 30, 2016, (ii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 4.75 for the quarter ending September 30, 2016, (iii) increased the maximum consolidated senior secured net leverage ratio from 1.75 to 5.00 for the quarters ending December 31, 2016 and March 31, 2017, (iv) decreased the minimum consolidated interest coverage ratio from 5.00 to 3.00 for the quarter ending June 30, 2016 and to 2.50 for the quarters ending September 30, 2016 and December 31, 2016, (v) extended the maturity of the Revolving Credit Facility until March 31, 2017 , (vi) increased the interest rate margin to 3.50% , (vii) introduced specified liquidity targets to meet on a quarterly basis for each of the three quarters ending June 30, 2016, September 30, 2016 and December 31, 2016 (viii) imposed the requirement that OCIB repay in full all outstanding revolving loans under the Revolving Credit Facility on the last business day of each fiscal quarter, commencing September 30, 2016 provided that with respect to the repayment occurring on September 30, 2016, OCIB shall only be required to repay an amount such that no more than $20,000 in aggregate principal amount of the revolving loans remain outstanding on such date after giving effect to such repayment and (ix) increased the applicable commitment fee to 1.40% per annum. On January 4, 2017, OCIB, the Partnership and OCI USA entered into Amendment No. 6 (“Revolving Credit Amendment No. 6”) to the Revolving Credit Facility with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Revolving Credit Amendment No. 6, among other things (i) added a maximum consolidated senior secured net leverage ratio covenant of (a) 6.25 for the quarter ending March 31, 2017, (b) 5.50 for the quarters ending June 30, 2017 and September 30, 2017 and (c) 5.25 for the quarter ending December 31, 2017, (ii) added a minimum consolidated interest coverage ratio of (a) 1.25 for the quarters ending December 31, 2016 and March 31, 2017, (b) 1.50 for the quarter ending June 30, 2017, (c) 1.75 for the quarter ending September 30, 2017 and (d) 2.25 for the quarter ending December 31, 2017, (iii) extended the maturity of the Revolving Credit Facility until March 31, 2018 , (iv) increased the interest rate margin to 4.75% , (v) set the specified liquidity target to be met on a quarterly basis, (vi) added a requirement that proceeds from certain types of debt incurrences be used to clean-up the revolver, (vii) introduced the recurring reduction of the total revolving loan commitment beginning with the quarter ending June 30, 2017 and continuing at the end of each quarter thererafter, (viii) added a requirement that the general liens basket only be used when the consolidated senior secured net leverage ratio does not exceed 2.75 to 1.00 and (ix) updated the computation of certain financial covenants to exclude interest incurred under the Term Loan Facility—Related Party and the Revolving Credit Facility—Related Party. Please read note 14—Subsequent Events for additional information regarding Revolving Credit Facility Amendment No. 6. As of December 31, 2016, outstanding principal amounts under the Revolving Credit Facility bear interest at OCIB’s option at either LIBOR plus a margin of 3.50% or a base rate plus a margin of 2.50% . OCIB also pays a commitment fee of 1.40% per annum on the unused portion of the Revolving Credit Facility. The Revolving Credit Facility has a one -year term that may be extended for additional one -year periods subject to the consent of the lenders. OCIB is required to repay in full all outstanding revolving loans under the Revolving Credit Facility on the last business day of each June and December. As of December 31, 2016, OCIB had no amounts outstanding under the Revolving Credit Facility. OCIB’s obligations under the Revolving Credit Facility are guaranteed by the Partnership and certain of its future subsidiaries other than OCIB. OCIB’s obligations under the Revolving Credit Facility are secured by a first priority lien (which is pari passu with the first priority lien securing obligations under the Term Loan B Credit Facility) on substantially all of the tangible and intangible assets of OCIB and the Partnership. In addition, the Revolving Credit Facility contains covenants and provisions that affect OCIB and the Partnership, including, among others, customary covenants and provisions: • prohibiting OCIB from incurring indebtedness (subject to customary exceptions); • limiting OCIB’s ability and that of the Partnership from creating or incurring specified liens on their respective properties (subject to customary exceptions); • limiting OCIB’s ability and that of the Partnership to make distributions and equity repurchases (which shall be permitted if no default exists and in the case of distributions and equity repurchases from a subsidiary to its parent); and • prohibiting consolidations, mergers and asset transfers by OCIB and the Partnership (subject to customary exceptions). Under the Revolving Credit Facility, OCIB is also subject to certain financial covenants that are tested on a quarterly basis. As of December 31, 2016 , OCIB may not permit, on the last day of any fiscal quarter (i) the consolidated senior secured net leverage ratio to exceed 5.00 to 1.00, in the fiscal quarter ending December 31, 2016 and (ii) the consolidated interest coverage ratio on the last day of any fiscal quarter to be less than 2.50 to 1.00, for the fiscal quarters ending December 31, 2016 and March 31, 2017. Please read note 14—Subsequent Events for additional information regarding Revolving Credit Facility Amendment No. 6 as the consolidated interest coverage ratio requirement for December 31, 2016 has been retroactively adjusted by this amendment. The consolidated senior secured net leverage ratio is defined as the ratio of (i) (A) consolidated senior secured debt less (B) the aggregate amount of unrestricted cash and cash equivalents included on the consolidated balance sheet to (ii) consolidated EBITDA for the last four quarters. The consolidated interest coverage ratio is defined as the ratio of (i) consolidated EBITDA for the last four quarters to (ii) consolidated interest expense for the last four quarters. For the period ending December 31, 2016 , we applied the Consolidated EBITDA Material Project Adjustments (as defined in the Revolving Credit Facility) to our calculation of Consolidated EBITDA (as defined in the Revolving Credit Facility) in computing the aforementioned ratios. As of December 31, 2016 , OCIB’s consolidated senior secured net leverage ratio was 3.18 to 1.00, and its consolidated interest coverage ratio was 1.57 to 1.00. Upon the occurrence of certain events of default under the Revolving Credit Facility OCIB’s obligations under the Revolving Credit Facility may be accelerated. The Revolving Credit Facility also contains various nonfinancial covenants, which include, among others, undertaking with respect to reporting requirements, maintenance of specified insurance coverage, and compliance with applicable laws and regulations. As of December 31, 2016 , the Partnership was in compliance with all these covenants. The Revolving Credit Facility contains events of default customary for credit facilities of this nature, including, but not limited to, the failure to pay any principal, interest or fees when due, failure to satisfy any covenant, untrue representations or warranties, impairment of liens, events of default under any other loan document under the new credit facility, default under any other material debt agreements, insolvency, certain bankruptcy proceedings, change of control and material litigation resulting in a final judgment against any borrower or subsidiary guarantor. Upon the occurrence and during the continuation of an event of default under the Revolving Credit Facility, the lenders may, among other things, accelerate and declare the outstanding loans to be immediately due and payable and exercise remedies against OCIB, the Partnership and the collateral as may be available to the lenders under the Revolving Credit Facility and other loan documents. (c) Debt Issuance Costs Term Loan B Credit Facility and Amendments Thereto The Term Loan Amendment No. 4 included a 0.75% consent fee of $2,963 , a 0.25% arranger fee of $988 , and $44 of other fees and expenses. The Incremental Term Loan Agreement included an arranger fee of $595 , legal fees of $183 , and $128 of other fees and expenses. The Term Loan Amendment No. 5 included an arranger fee of $500 , legal fees of $64 , and $13 of other fees and expenses. The Term Loan Amendment No. 6 included an amendment fee of $1,102 , legal fees of $31 , and $12 of other fees and expenses. The Term Loan Amendment No. 7 included a prepayment fee of $776 paid to nonconsenting lenders and legal fees of $55 . OCIB recorded the debt issuance costs as a reduction of long-term debt in the accompanying consolidated balance sheet. As a result of the $200,000 principal prepayment on November 30, 2016, we accelerated amortization in the amount of $7,600 of unamortized deferred financing fees, which is included as a component of interest expense in the accompanying consolidated statements of operations. All debt discount and debt issuance costs are being amortized over the term of the Term Loan B Credit Facility using the effective-interest method. The amortization of the debt issuance costs related to the Term Loan B Credit Facility was $11,419 , $3,415 and $2,420 during the years ended December 31, 2016 , 2015 , and 2014 , respectively. The amortization of the debt issuance costs is presented as a component of interest expense in the accompanying consolidated statements of operations. Revolving Credit Facility and Amendments Thereto The Revolving Credit Agreement Amendment No. 2 included a 0.25% consent fee of $100 and $24 of other fees and expenses. The Revolving Credit Agreement Amendment No. 3 included a 0.25% amendment fee of $100 . The Revolving Credit Agreement Amendment No. 4 included $30 of legal fees and expenses. The Revolving Credit Agreement Amendment No. 5 included $31 of legal fees and expenses. The Revolving Credit Agreement Amendment No. 6 included a 0.25% consent fee of $100 and $36 of legal fees and expenses. OCIB recorded the debt issuance costs as a reduction of short-term debt in the accompanying consolidated balance sheets and is amortizing them over the term of the Revolving Credit Facility using the effective-interest method. OCIB amortized debt issuance costs related to the Revolving Credit Facility of $103 , $295 and $395 during the years ended December 31, 2016 , 2015 , and 2014 , respectively. The amortization of the debt issuance costs is presented as a component of interest expense in the accompanying consolidated statement of operations. |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | Related–Party Transactions The Partnership has maintained and been involved with certain arrangements and transactions with OCI and its affiliates. The material effects of such arrangements and transactions are reported in the accompanying consolidated financial statements as related party transactions. The Partnership’s IPO on October 9, 2013 and associated contribution by OCI USA of its interests in OCIB gave rise to certain transfers, contributions, and capital distributions described in note 1. In addition, the Partnership entered into certain contractual arrangements with related parties in connection with the IPO, such as the Omnibus Agreement and other agreements discussed below. The following table represents the effect of related party transactions of the consolidated results of operations for the years ended December 31, 2016 , 2015 and 2014 : Years Ended December 31, 2016 2015 2014 Revenue $ 10,995 $ 10,753 $ — Cost of goods sold (exclusive of depreciation) 16,259 16,353 13,266 Selling, general and administrative expenses (1) 4,160 4,326 4,428 Interest expense 1,777 203 203 (1) Amounts represented in selling, general and administrative expense were incurred to the following related parties: Years Ended December 31, 2016 2015 2014 OCI GP LLC $ 3,044 $ 3,071 $ 2,563 OCI Nitrogen B.V. 24 50 183 OCI Personnel B.V. 308 621 857 Contrack International Inc. 700 546 805 OCI Fertilizer BV 40 38 20 OCI Fertilizers Trade & Supply B.V. 44 — — Total selling, general and administrative expenses—related party $ 4,160 $ 4,326 $ 4,428 Our Agreements with OCI Omnibus Agreement On October 9, 2013, in connection with the closing of the IPO, the Partnership entered into an omnibus agreement by and between the Partnership, OCI, OCI USA, OCI GP LLC and OCIB (the “Omnibus Agreement”). The Omnibus Agreement addresses certain aspects of the Partnership’s relationship with OCI and OCI USA, including: (i) certain indemnification obligations, (ii) the provision by OCI USA to the Partnership of certain services, including selling, general and administrative services and management and operating services relating to operating the Partnership’s business, (iii) the Partnership’s use of the name “OCI” and related marks and (iv) the allocation among the Partnership and OCI USA of certain tax attributes. Under the Omnibus Agreement, OCI USA will provide, or cause one or more of its affiliates to provide, the Partnership with such selling, general and administrative services and management and operating services as may be necessary to manage and operate the business and affairs of the Partnership. Pursuant to the Omnibus Agreement, the Partnership will reimburse OCI USA for all reasonable direct or indirect costs and expenses incurred by OCI USA or its affiliates in connection with the provision of such services, including the compensation and employee benefits of employees of OCI USA or its affiliates. During the years ended December 31, 2016 , 2015 and 2014 , costs totaling $19,303 , $19,424 and $15,827 , respectively, were incurred under this contract and payable to OCI GP LLC in connection with reimbursement of providing selling, general and administrative services and management and operating services to manage and operate the business and affairs of the Partnership. Of these amounts, the wages directly attributable to revenue-producing operations were included in cost of goods sold (exclusive of depreciation)—related party and the remaining amounts incurred were included in selling, general and administrative expense—related party. During the years ended December 31, 2016 , 2015 and 2014 , $16,259 , $16,353 and $13,264 , respectively, were recorded in cost of goods sold (exclusive of depreciation)—related party and $ 3,044 , $ 3,071 and $ 2,563 , respectively, were recorded in selling, general and administrative expense—related party. Accounts payable—related party include amounts incurred but unpaid to OCI GP LLC of $3,147 and $1,522 as of December 31, 2016 and December 31, 2015 , respectively. As shown in the table above, the Partnership recorded amounts due to (i) OCI Nitrogen B.V. (“OCI Nitrogen”), an indirect, wholly-owned subsidiary of OCI, (ii) OCI Personnel B.V. (“OCI Personnel”), an indirect, wholly-owned subsidiary of OCI, (iii) Contrack International Inc. (“Contrack”), an affiliate of OCI, (iv) OCI Fertilizer BV, and indirect, wholly-owned subsidiary of OCI, and (v) OCI Fertilizer Trade & Supply B.V., in selling, general and administrative expense as shown on the consolidated statement of operations, in relation to officers’ salaries, wages and travel expenses, and asset management information-technology-related project expenses in the amount of $1,116 , $1,255 and $1,865 during the years ended December 31, 2016 , 2015 and 2014 , respectively. Accounts payable—related party include amounts incurred but unpaid to the aforementioned parties of $631 and $1,394 as of December 31, 2016 and December 31, 2015 , respectively. Contribution Agreement On October 9, 2013, in connection with the closing of the IPO, the Partnership entered into a Contribution, Conveyance and Assumption Agreement (the “Contribution Agreement”) with its general partner, OCI USA and OCIB. Immediately prior to the closing of the IPO, OCI USA contributed to the Partnership its right, title and interest in and to all of the limited liability company interests in OCIB in exchange for 60,375,000 common units. These transactions, among others, were made in a series of steps outlined in the Contribution Agreement. On November 4, 2013, after the expiration of the underwriters’ over-allotment option period, pursuant to the IPO underwriting agreement and the Contribution Agreement, the Partnership issued 2,625,000 additional common units that were subject to the underwriters’ over-allotment option to OCI USA for no additional consideration as part of OCI USA’s contribution of its membership interests in OCIB to the Partnership. Distributions and Payments to OCI USA and Its Affiliates Prior to the completion of the IPO, certain assets of OCIB were transferred to OCI USA including $27,560 of trade receivables. All collections of transferred trade receivables have been received by the Partnership and will be remitted to OCI USA. During the years ended December 31, 2016 and 2015, we remitted $432 and $ 331 , respectively, of the collections of the transferred trade receivables to OCI USA. On June 30, 2016, OCIB entered into a non-cash settlement agreement with OCI USA and OCI Fertilizer to settle $304 of the accrued interest—related party due to OCI Fertilizer in relation to the commitment fee on the unused portion of the intercompany revolving facility agreement between OCIB and OCI Fertilizer. As a result of this settlement agreement, OCIB incurred $304 of accounts payable—related party due to OCI USA. Accounts payable—related party includes amounts incurred but unpaid to OCI USA of $9,579 and $ 9,707 as of December 31, 2016 and 2015, respectively. Revolving Credit Facility—Related Party and Term Loan Facility—Related Party As indicated above in note 6(a), OCIB recorded interest expense—related party during the years ended December 31, 2016 , 2015 and 2014 of $1,777 , $203 and $203 , respectively. Interest expense—related party relates to interest expense and commitment fees on the unused portion of the Revolving Credit Facility—Related Party and interest expense on our Term Loan Facility—Related Party, both payable to OCI USA. Construction Agreement with Orascom E&C USA Inc. In June 2013, OCIB entered into a procurement and construction contract with Orascom E&C USA Inc. ("Orascom E&C"), an affiliate of OCI, pursuant to which Orascom E&C undertook the debottlenecking of OCIB’s methanol and ammonia production units (the “Construction Contract”). Upon execution of the Construction Contract, a technical service agreement that was previously entered into by OCIB and OCI Construction Limited, an affiliate of OCI, providing for the management and construction services relating to the debottlenecking project was subsumed within the Construction Contract. Under the terms of the Construction Contract, Orascom E&C was paid on a cost-reimbursable basis, plus a fixed fee equal to 9% of the costs of the project, excluding any discounts. The contract allocated customary responsibilities to OCIB and Orascom E&C. The agreement did not provide for the imposition of liquidated or consequential damages. Costs (including the fixed fee) were incurred under the Construction Contract in the amount of $239 and $101,454 during the years ended December 31, 2015 and 2014 , respectively. No amounts were incurred under this contract during the year ended December 31, 2016 . All amounts incurred under this contact were capitalized into construction in progress, which is a component of property plant and equipment shown in the consolidated balance sheet. We had no amounts due to Orascom E&C as of December 31, 2016 and December 31, 2015 . Related Party Sales On May 12, 2015, OCIB entered into an agreement with OCI Fertilizers USA LLC (“OCI Fertilizers USA”), an indirect, wholly-owned subsidiary of OCI that is a wholesaler of ammonia, to supply OCI Fertilizers USA with commercial grade anhydrous ammonia. OCI Fertilizers USA purchases the ammonia to resell to third parties. The term of the agreement began on June 1, 2015 and ends on May 31, 2017 and renews automatically unless a party cancels with 90 days’ notice. Under the terms of the agreement, OCI Fertilizers USA is paid a 1.5% commission of the sales price to third parties. During the years ended December 31, 2016 , 2015 and 2014 , we had related party sales of $ 7,731 , $ 6,546 and $ 0 , respectively, for the sale of ammonia to OCI Fertilizers USA. Accounts Receivable—related party includes amounts due from OCI Fertilizer USA of $ 1,322 and $ 660 as of December 31, 2016 and December 31, 2015 , respectively. On December 14, 2015, OCIB entered into an agreement with OCI Fertilizer Trade & Supply B.V., an indirect, wholly-owned subsidiary of OCI that is an international trader of ammonia, to supply OCI Fertilizers Trade & Supply B.V. with commercial grade anhydrous ammonia. OCI Fertilizers Trade & Supply B.V. purchases the ammonia to resell to OCI Nitrogen at its facilities in the Netherlands. The term of the agreement began in December 2015 and ended in February 2016. During the years ended December 31, 2016 , 2015 and 2014 , we had related party sales of $ 3,265 , $ 4,208 and $ 0 , respectively, for the sale of ammonia to OCI Fertilizers Trade & Supply B.V. Accounts Receivable—related party includes amounts due from OCI Fertilizer Trade & Supply B.V. of $ 4,208 as of December 31, 2015 . We had no amounts due from Fertilizer Trade & Supply B.V. as of December 31, 2016 . Other Transactions with Related Parties Equity Commitment Agreement On November 27, 2013, the Partnership entered into an intercompany equity commitment agreement with OCI USA (the “Intercompany Equity Commitment”). Under the terms of the Intercompany Equity Commitment, OCI USA shall make an equity contribution not to exceed $100,000 to the Partnership if (a) prior to the completion of the debottlenecking project, the Partnership or OCIB have liquidity needs for working capital or other needs and the restrictions under the Term Loan B Credit Facility or any other debt instrument prohibit the Partnership or OCIB from incurring sufficient additional debt to fund such liquidity needs; or (b) OCIB fails to comply with any of the financial covenants as of the last day of any fiscal quarter. On November 10, 2014, pursuant to the Intercompany Equity Commitment, the Partnership received a capital contribution of $60,000 from OCIP Holding LLC (“OCIP Holding”), an indirect, wholly-owned subsidiary of OCI, to help finance the funding required to complete the debottlenecking project, and, in exchange, the Partnership issued 2,995,372 common units to OCIP Holding. The common units were issued pursuant to a contribution agreement, dated November 10, 2014, by and among the Partnership, OCIP Holding and OCI USA, at a price per common unit equal to $20.0309 (the volume-weighted average trading price of a common unit on the NYSE, calculated over the consecutive 20 -trading day period ending on the close of trading on the trading day immediately prior to the issue date). Immediately following the issuance of common units to OCIP Holding on November 10, 2014, OCIP Holding held 65,995,372 common units in the Partnership, representing a 79.04% limited partner interest. On April 17, 2015, the Partnership received a capital contribution of $60,000 from OCIP Holding to partially fund capital expenditures and other costs and expenses incurred in connection with the debottlenecking project, and, in exchange, the Partnership issued 3,502,218 common units to OCIP Holding. The capital contribution consisted of the remaining available $40,000 under the Intercompany Equity Commitment and an additional $20,000 cash contribution. The common units were issued pursuant to a contribution agreement, dated April 17, 2015, by and among the Partnership, OCIP Holding and OCI USA, at a price per common unit equal to $17.132 (the volume-weighted average trading price of a common unit on the NYSE, calculated over the consecutive 21 -trading day period ending on the close of trading on the trading day immediately prior to the issue date). Immediately following the issuance of common units to OCIP Holding on April 17, 2015, OCIP Holding held 69,497,590 common units in the Partnership, representing a 79.88% limited partner interest. Due to the capital contributions by OCIP Holding on November 10, 2014 and April 17, 2015, and the completion of the debottlenecking project, OCI USA has no further obligation to make equity contributions to us under the Intercompany Equity Commitment. Guarantee of Term Loan B Credit Facility and Revolving Credit Facility The term loans under the Term Loan B Credit Facility and related fees and expenses are unconditionally guaranteed by OCIP and OCI USA and are each secured by pari passu senior secured liens on substantially all of OCIB’s and OCIP’s assets, as well as the assets of certain future subsidiaries of OCIP (OCI USA does not provide any security in connection with its guarantee). The revolving loans and letters of credit under the Revolving Credit Facility and related fees and expenses, are unconditionally guaranteed by OCIP and are secured by pari passu senior secured liens on substantially all of OCIB’s and OCIP’s assets, as well as the assets of certain future subsidiaries of OCIP . |
Partners' Capital
Partners' Capital | 12 Months Ended |
Dec. 31, 2016 | |
Partners' Capital [Abstract] | |
Partners' Capital | Partners’ Capital Summary of Changes in Outstanding Units The following is a reconciliation of our limited partner units outstanding for the periods indicated: Limited Partner Limited partner units outstanding at December 31, 2013 80,500,000 Units issued in connection with the Equity Commitment Agreement 2,995,372 Limited partner units outstanding at December 31, 2014 83,495,372 Limited partner units outstanding at Units issued in connection with the Equity Commitment Agreement 3,502,218 Limited partner units outstanding at December 31, 2015 86,997,590 Limited partner units outstanding at December 31, 2016 86,997,590 On November 10, 2014, pursuant to the Intercompany Equity Commitment, the Partnership received a capital contribution of $60,000 from OCIP Holding, to help finance the funding required to complete the debottlenecking project, and, in exchange, the Partnership issued 2,995,372 common units to OCIP Holding. The common units were issued pursuant to a contribution agreement, dated November 10, 2014, by and among the Partnership, OCIP Holding and OCI USA, at a price per common unit equal to $20.0309 (the volume-weighted average trading price of a common unit on the NYSE, calculated over the consecutive 20 -trading day period ending on the close of trading on the trading day immediately prior to the issue date). Immediately following the issuance of common units to OCIP Holding on November 10, 2014, OCIP Holding held 65,995,372 common units in the Partnership, representing a 79.04% limited partner interest. On April 17, 2015, the Partnership received a capital contribution of $60,000 from OCIP Holding to partially fund capital expenditures and other costs and expenses incurred in connection with the debottlenecking project, and, in exchange, the Partnership issued 3,502,218 common units to OCIP Holding. The capital contribution consisted of the remaining available $40,000 under the Intercompany Equity Commitment and an additional $20,000 cash contribution. The common units were issued pursuant to a contribution agreement, dated April 17, 2015, by and among the Partnership, OCIP Holding and OCI USA, at a price per common unit equal to $17.132 (the volume-weighted average trading price of a common unit on the NYSE, calculated over the consecutive 21 -trading day period ending on the close of trading on the trading day immediately prior to the issue date). Immediately following the issuance of common units to OCIP Holding on April 17, 2015, OCIP Holding held 69,497,590 common units in the Partnership, representing a 79.88% limited partner interest. Due to the capital contributions by OCIP Holding on November 10, 2014 and April 17, 2015, and the completion of the debottlenecking project, OCI USA has no further obligation to make equity contributions to us under the Intercompany Equity Commitment. |
Retention Bonus Plan
Retention Bonus Plan | 12 Months Ended |
Dec. 31, 2016 | |
Compensation Related Costs [Abstract] | |
Retention Bonus Plan | Retention Bonus Plan On November 29, 2013, the Board of Directors approved a retention bonus plan to reinforce and encourage the continued dedication of the employees of OCI GP LLC, our general partner, and its affiliates who provide services to the Partnership by providing a retention bonus opportunity. Each non-executive employee was eligible to receive up to two retention bonuses, pursuant to this plan. Each retention bonus equaled three times the employee’s base monthly salary or wages in effect on the applicable retention bonus payment date. The first retention bonus of $2,190 was accrued during the year-ended December 31, 2014 and paid during January 2015, and the second retention bonus of $2,738 was accrued during the year-ended December 31 2015 and paid during January 2016. Due to the two retention bonus payments that occurred in January 2015 and January 2016, OCI GP LLC has no further obligation to make retention bonus payments to its employees. |
Commitments, Contingencies and
Commitments, Contingencies and Legal Proceedings | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Legal Proceedings | Commitments, Contingencies and Legal Proceedings Litigation: In the ordinary course of business, we are, and will continue to be, involved in various claims and legal proceedings, some of which are covered in whole or in part by insurance. We may not be able to predict the timing or outcome of these or future claims and proceedings with certainty, and an unfavorable resolution of one or more of such matters could have a material adverse effect on our financial condition, results of operations or cash flows. Currently, we are not party to any legal proceedings that, individually or in the aggregate, are reasonably likely to have a material adverse effect on our financial condition, results of operations or cash flows. Environmental: The Partnership’s facilities could be subject to potential environmental liabilities primarily relating to contamination caused by current and/or former operations at those facilities. Some environmental laws could impose on the Partnership the entire costs of cleanup regardless of fault, legality of the original disposal or ownership of the disposal site. In some cases, the governmental entity with jurisdiction could seek an assessment for damage to the natural resources caused by contamination from those sites. The Partnership had no significant operating expenditures for environmental fines, penalties or government-imposed remedial or corrective actions during the years ended December 31, 2016 and 2015 . Contractual Purchase Commitments: We are obligated to make payments under contractual purchase commitments, including unconditional purchase obligations. Our unconditional purchase obligation relates to the supply of nitrogen. The contract requires the purchase of minimum quantities of nitrogen, at current market prices. We have estimated our payment obligations under the existing contract using current market prices and currently expect our purchases to exceed our minimum payment obligations. Our obligations to make future payments under the nitrogen supply contract as of December 31, 2016 are summarized in the following table: Total 2017 2018 2019 2020 2021 Thereafter Purchase Obligations $ 55,215 $ 7,362 $ 7,362 $ 7,362 $ 7,362 $ 7,362 $ 18,405 Total payments relating to our nitrogen supply contract were approximately $10,194 in 2016 , $7,742 in 2015 and $6,354 in 2014 . |
Earnings per Limited Partner Un
Earnings per Limited Partner Unit | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Limited Partner Unit | Earnings per Limited Partner Unit The following table sets forth the computation of basic and diluted earnings per limited partner unit for the period indicated: Year Ended Year Ended Year Ended Net income (loss) $ (50,553 ) $ 52,021 $ 119,448 Basic and diluted weighted average number of limited partner units outstanding 86,997,590 85,970,912 80,918,531 Basic and diluted net income (loss) per limited partner unit $ (0.58 ) $ 0.61 $ 1.48 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) Selected unaudited condensed financial information for the fiscal years ended December 31, 2016 , 2015 and 2014 is presented in the tables below. First Quarter Second Quarter Third Quarter Fourth Quarter For the 2016 Fiscal Year Revenues 64,012 54,460 64,641 64,121 Revenues—related party 5,929 1,818 1,435 1,813 Income (loss) from operations before interest expense, other income and income tax expense 3,269 (5,435 ) (874 ) 743 Loss from operations before tax expense (5,974 ) (15,494 ) (11,141 ) (17,138 ) Net loss (6,054 ) (15,447 ) (11,697 ) (17,355 ) Basic and diluted net loss per limited partner unit (0.07 ) (0.18 ) (0.13 ) (0.20 ) First Quarter Second Quarter Third Quarter Fourth Quarter For the 2015 Fiscal Year Revenues $ 37,745 $ 78,956 $ 100,402 $ 81,587 Revenues—related party — 612 3,281 6,860 Income from operations before interest expense, other income and income tax expense 1,436 17,494 30,834 22,968 Income from operations before tax expense 958 13,706 23,496 14,474 Net income 893 13,478 23,143 14,507 Basic and diluted net income per limited partner unit 0.01 0.16 0.27 0.17 |
Distributions
Distributions | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Distributions | Distributions The Partnership declared the following cash distributions to its unitholders of record for the periods presented: Period of Cash Distribution Distribution Per Common Unit(1) Total Cash Distribution Date of Record Date of Distribution First Quarter, ended March 31, 2014 $ 0.41 $ 33,005 May 22, 2014 May 29, 2014 Second Quarter, ended June 30, 2014 $ 0.48 $ 38,640 August 22, 2014 August 28, 2014 Third Quarter, ended September 30, 2014 $ 0.26 $ 21,709 November 21, 2014 December 3, 2014 Fourth Quarter, ended December 31, 2014 $ 0.33 $ 27,553 March 26, 2015 April 10, 2015 First Quarter, ended March 31, 2015 (2) $ — $ — — — Second Quarter, ended June 30, 2015 (3) $ — $ — — — Third Quarter, ended September 30, 2015 $ 0.41 $ 35,669 November 30, 2015 December 17, 2015 Fourth Quarter, ended December 31, 2015 $ 0.32 $ 27,839 March 30, 2016 April 8, 2016 First Quarter, ended March 31, 2016 $ 0.06 $ 5,220 June 24, 2016 July 8, 2016 Second Quarter, ended June 30, 2016 (4) $ — $ — — — Third Quarter, ended September 30, 2016 (5) $ — $ — — — Fourth Quarter, ended December 31, 2016 (6) $ — $ — — — (1) Cash distributions for a quarter are declared and paid in the following quarter. (2) No distribution was declared for the three-months ended March 31, 2015. (3) No distribution was declared for the three-months ended June 30, 2015. (4) No distribution was declared for the three-months ended June 30, 2016. (5) No distribution was declared for the three-months ended September 30, 2016. (6) No distribution was declared for the three-months ended December 31, 2016. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Amendment No. 6 to the Revolving Credit Facility On January 4, 2017 , OCIB and the Partnership entered into Revolving Credit Amendment No. 6 to the Revolving Credit Agreement dated as of April 4, 2014 (as previously amended by that certain Amendment No. 1 dated as of June 13, 2014, that certain Amendment No. 2 dated as of March 12, 2015, that certain Amendment No. 3 and Waiver dated as of October 16, 2015, that certain Amendment No. 4 dated as of March 11, 2016, that certain Amendment No. 5 dated as of March 17, 2016) with Bank of America, N.A., as administrative agent, and the other lenders party thereto. The Revolving Credit Amendment No. 6, among other things (i) added a maximum consolidated senior secured net leverage ratio covenant of (a) 6.25 for the quarter ending March 31, 2017, (b) 5.50 for the quarters ending June 30, 2017 and September 30, 2017 and (c) 5.25 for the quarter ending December 31, 2017, (ii) added a minimum consolidated interest coverage ratio of (a) 1.25 for the quarters ending December 31, 2016 and March 31, 2017, (b) 1.50 for the quarter ending June 30, 2017, (c) 1.75 for the quarter ending September 30, 2017 and (d) 2.25 for the quarter ending December 31, 2017, (iii) extended the maturity of the Revolving Credit Facility until March 31, 2018 , (iv) increased the interest margin to 4.75% , (v) set the specified liquidity target to be met on a quarterly basis, (vi) added a requirement that proceeds from certain types of debt incurrences be used to clean-up the revolver, (vii) introduced the recurring reduction of the total revolving loan commitment beginning with the quarter ending June 30, 2017 and continuing at the end of each quarter thererafter, (viii) added a requirement that the general liens basket only be used when the consolidated senior secured net leverage ratio does not exceed 2.75 to 1.00 and (ix) updated the computation of certain financial covenants to exclude interest incurred under the Term Loan Facility—Related Party and the Revolving Credit Facility—Related Party. In conjunction with this transaction, we incurred a 0.25% consent fee of $100 and legal expenses of $36 . |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Presentation | Presentation The consolidated financial statements include the accounts of the Partnership and its subsidiary. A subsidiary is an entity over which the Partnership has control. Subsidiaries are fully consolidated from the date on which control is transferred to the Partnership and are deconsolidated from the date that control ceases. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Accuracy of estimates is based on accuracy of information used. Significant items subject to such estimates and assumptions include the useful lives of property, plant, and equipment, the valuation of property, plant, and equipment, and other contingencies. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of balances held in the Partnership’s bank accounts less outstanding payments. |
Trade Accounts Receivable | Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the consolidated statements of cash flows. The Partnership maintains a customer-specific allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers customers’ financial condition, the amount of receivables in dispute, the current receivables aging, and current payment patterns. The Partnership reviews its allowance for doubtful accounts monthly. Past–due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. There was no allowance for doubtful accounts and no bad debt write-offs during the years ended December 31, 2016 and 2015 . The Partnership does not have any off-balance-sheet credit exposure related to its customers. |
Inventories | Inventories Inventories are stated at the lower of cost or market, using standard cost method for finished goods, work in process, raw materials, and supplies inventory. The standard cost of finished goods is the product of the standard cost of our raw materials and quantities of raw materials consumed, based on normal capacity. We review our standard costs monthly and update them as appropriate to approximate actual costs. We also allocate a portion of fixed production overhead to inventory based on the normal capacity of our production facilities. Normal capacity is defined as “the production expected to be achieved over a number of periods under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.” The Partnership records variances, abnormal amounts of idle facility expense, freight, handling costs, and wasted material (spoilage) as current period charges. The Partnership’s raw materials are consumed immediately upon delivery. |
Revenue Recognition | Revenue Recognition The Partnership recognizes revenue when products are shipped and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists, and the sales price is fixed or determinable. Revenue for barge sales is recognized when risk and title to the product transfer to the customer, which occurs at the time shipment is made (free on board shipping point). Revenue for pipeline sales is recognized when risk and title to the product transfer to the customer, which occurs at the time when meter ticket delivery is received (free on board shipping destination). Revenue for truck sales is recognized when risk and title to the product transfer to the customer, which occurs when the Partnership’s product is received by the common carrier (free on board shipping point). |
Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment are stated at cost. Depreciation is computed using principally the straight-line method over the estimated useful life of the various classes of depreciable assets. The lives used in computing depreciation for such assets are as follows: Asset Range of Useful Lives, in Years Buildings 30 Machinery and equipment 4 to 15 Automotive equipment 5 Furniture and fixtures 5 In the accompanying consolidated statements of operations, the Partnership’s policy is to exclude depreciation expense from cost of sales. |
Maintenance and Turnaround Activities | Maintenance and Turnaround Activities The Partnership incurs maintenance costs on its facilities and equipment. Routine repair and maintenance costs are expensed as incurred. |
Income Taxes | Income Taxes The Partnership is a Delaware limited partnership and is not a taxable entity; however, the Partnership is subject to Texas Margin Taxes. Each partner of a partnership is required to take into account his share of items of income, gain, loss and deduction of the Partnership in computing his federal income tax liability. As of December 31, 2016 , the tax basis of our assets and liabilities were $379,479 less than the reported amount of our assets and liabilities. OCIB is a Texas limited liability company with disregarded tax status (i.e., nontaxable pass-through entity) for U.S. federal income tax purposes and, therefore, is not subject to U.S. federal income taxes; however, OCIB is subject to Texas Margin Taxes. |
Commitments and Contingencies | Commitments and Contingencies Liabilities for loss contingencies, including environmental remediation costs not within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations , arising from claims, assessments, litigation, fines, and penalties and other sources, are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Accruals for estimated losses from environmental remediation obligations generally are recognized no later than completion of the remedial feasibility study. Such accruals are adjusted as further information develops or circumstances change. Costs of expected future expenditures for environment remediation obligations are not discounted to their present value. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets, such as property, plant, and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Partnership first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. No events or changes in circumstances occurred during the years ended December 31, 2016 , 2015 and 2014 , that indicated the carrying amount of an asset may not be recoverable. |
Capitalized Interest | Capitalized Interest The Partnership’s policy is to capitalize interest costs incurred on indebtedness during the construction of major projects. |
Fair Value Measurement | Fair Value Measurement The Partnership’s receivables and payables are short–term nature and therefore, the carrying amount approximates their respective fair values as of December 31, 2016 and 2015 . Debt (including related party debt) accrues interest at a variable rate, and as such, the fair value approximates its carrying amount as of December 31, 2016 and 2015 . |
New Accounting Pronouncements | New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues Accounting Standards Updates (“ASU”) to communicate changes to the codification. The Partnership considers the applicability and impact of all ASU’s. The following are those ASU’s that are relevant to the Partnership. On August 29, 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 provides guidance on the cash flow reporting of certain issues that were either unclear or not addressed under existing U.S. GAAP. The standard requires the retrospective transition method and is effective for annual and interim periods in the fiscal years beginning after December 15, 2017, although early adoption is permitted. The adoption of ASU 2016-15 on January 1, 2018 is not expected to have a material impact on the Partnership's consolidated financial statements or disclosures. On November 20, 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The FASB issued this ASU as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and International Financial Reporting Standards (“IFRS”). Current GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simply the presentation of deferred income taxes and to align the presentation of deferred income tax assets and liabilities with IFRS, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. A reporting entity can apply the amendments either prospectively or retrospectively, with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-17 on January 1, 2017 is not expected to have a material impact on the Partnership’s consolidated financial statements or disclosures. On July 22, 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The FASB issued this ASU as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and IFRS. The amendments in ASU 2015-11 change the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within fiscal years beginning after December 15, 2017. A reporting entity should apply the amendments prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The adoption of ASU 2015-11 on January 1, 2017 is not expected to have a material impact on the Partnership’s consolidated financial statements or disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern.” ASU 2014-15 requires a Company's management to evaluate, at each reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The adoption of ASU 2014-15 as of December 31, 2016 did not impact the Partnership’s consolidated financial statements or disclosures. On May 28, 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard is effective for interim and annual periods beginning after December 15, 2017 and permits the use of either retrospective, modified retrospective, or cumulative effect transition method. Early adoption is permitted for annual periods beginning after December 15, 2016. The Partnership will adopt ASU 2014-09 on January 1, 2018 and is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Partnership has formed a project team that has completed training on the new ASU and has started contract review and documentation. The Partnership has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. On May 28, 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard is effective for interim and annual periods beginning after December 15, 2017 and permits the use of either retrospective, modified retrospective, or cumulative effect transition method. Early adoption is permitted for annual periods beginning after December 15, 2016. The Partnership will adopt ASU 2014-09 on January 1, 2018 and is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Partnership has formed a project team that has completed training on the new ASU and has started contract review and documentation. The Partnership has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Revenue by Major Customers | During the years ended December 31, 2016 , 2015 and 2014 , the following customers accounted for 10% or more of the Partnership’s revenues: Percentage of Revenues Customer name 2016 2015 2014 Methanex 35 % 26 % 33 % Koch (1) 24 % 26 % 29 % Interoceanic Corporation (IOC) 14 % 15 % 15 % _____________________________________ (1) Figure presented includes sales to Koch Nitrogen International Sarl, Koch Fertilizier LLC and Koch Methanol LLC. |
Summary of Revenues by Product | Below is a summary of revenues by product for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Ammonia $ 83,978 $ 99,443 $ 126,808 Methanol 174,236 209,654 275,553 Other 15 346 419 Total $ 258,229 $ 309,443 $ 402,780 |
Schedule of Useful Life of Asset for Depreciation | The lives used in computing depreciation for such assets are as follows: Asset Range of Useful Lives, in Years Buildings 30 Machinery and equipment 4 to 15 Automotive equipment 5 Furniture and fixtures 5 |
Reconciliation of Total Interest Costs to Interest Expense | A reconciliation of total interest costs to interest expense as reported in the consolidated statements of operations for 2016 , 2015 and 2014 is as follows: 2016 2015 2014 Interest cost capitalized $ — $ 8,586 $ 6,410 Interest cost charged to income (1) 45,096 20,018 18,250 Interest cost charged to income—related party 1,777 203 203 Total interest cost $ 46,873 $ 28,807 $ 24,863 _____________________________________ (1) Includes $11,552 , $3,710 and $2,815 of amortized debt issuance costs for the years ended December 31, 2016 , 2015 and 2014 (note 6(b)). |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | 2016 2015 Land $ 3,371 $ 3,371 Plant and equipment 766,263 759,209 Buildings 14,685 14,612 Vehicles 55 118 Furniture, Fixtures & Office Equipment 629 423 Construction in progress 2,159 2,735 787,162 780,468 Less: accumulated depreciation 166,948 105,769 $ 620,214 $ 674,699 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories Balances by Product | Below is a summary of inventories balances by product as of December 31, 2016 and 2015 : 2016 2015 Ammonia $ 4,192 $ 2,982 Methanol 3,351 2,992 Total $ 7,543 $ 5,974 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Components of Debt | December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 236,305 6.75% + Adjusted LIBOR 8.03 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 6,077 Term Loan Facility, Net $ 225,748 December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility $ 25,000 2.75% + LIBOR 3.08 % March 12, 2016 Less: Unamortized Debit Issue Costs 72 Revolving Credit Facility, Net $ 24,928 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 440,785 5.50% + Adjusted LIBOR 6.50 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 15,520 Term Loan Facility, Net $ 420,785 December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility—Related Party $ 35,000 3.50% + LIBOR + 0.25% 4.63 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan Facility — Related Party $ 200,000 6.75% + Adjusted LIBOR + 0.25% 8.28 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Original Revolving Credit Facility—Related Party $ — 5.50% + Adjusted LIBOR + 0.25% 6.75 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Original Term Loan Facility—Related Party $ — 5.50% + Adjusted LIBOR + 0.25% 6.75 % January 20, 2020 |
Scheduled Maturities with Respect to Amended Term Loan Facility | Scheduled maturities with respect to the Term Loan B Credit Facility are as follows: Fiscal Year 2017 $ 4,480 2018 4,480 2019 227,345 Total $ 236,305 |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Effect of Related Party Transactions | The following table represents the effect of related party transactions of the consolidated results of operations for the years ended December 31, 2016 , 2015 and 2014 : Years Ended December 31, 2016 2015 2014 Revenue $ 10,995 $ 10,753 $ — Cost of goods sold (exclusive of depreciation) 16,259 16,353 13,266 Selling, general and administrative expenses (1) 4,160 4,326 4,428 Interest expense 1,777 203 203 (1) Amounts represented in selling, general and administrative expense were incurred to the following related parties: Years Ended December 31, 2016 2015 2014 OCI GP LLC $ 3,044 $ 3,071 $ 2,563 OCI Nitrogen B.V. 24 50 183 OCI Personnel B.V. 308 621 857 Contrack International Inc. 700 546 805 OCI Fertilizer BV 40 38 20 OCI Fertilizers Trade & Supply B.V. 44 — — Total selling, general and administrative expenses—related party $ 4,160 $ 4,326 $ 4,428 |
Partners' Capital (Tables)
Partners' Capital (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Partners' Capital [Abstract] | |
Reconciliation of Limited Partner Units Outstanding | The following is a reconciliation of our limited partner units outstanding for the periods indicated: Limited Partner Limited partner units outstanding at December 31, 2013 80,500,000 Units issued in connection with the Equity Commitment Agreement 2,995,372 Limited partner units outstanding at December 31, 2014 83,495,372 Limited partner units outstanding at Units issued in connection with the Equity Commitment Agreement 3,502,218 Limited partner units outstanding at December 31, 2015 86,997,590 Limited partner units outstanding at December 31, 2016 86,997,590 |
Commitments, Contingencies an28
Commitments, Contingencies and Legal Proceedings Commitments, Contingencies and Legal Proceedings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecorded Unconditional Purchase Obligations Disclosure | Our obligations to make future payments under the nitrogen supply contract as of December 31, 2016 are summarized in the following table: Total 2017 2018 2019 2020 2021 Thereafter Purchase Obligations $ 55,215 $ 7,362 $ 7,362 $ 7,362 $ 7,362 $ 7,362 $ 18,405 |
Earnings per Limited Partner 29
Earnings per Limited Partner Unit (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Limited Partner Unit | The following table sets forth the computation of basic and diluted earnings per limited partner unit for the period indicated: Year Ended Year Ended Year Ended Net income (loss) $ (50,553 ) $ 52,021 $ 119,448 Basic and diluted weighted average number of limited partner units outstanding 86,997,590 85,970,912 80,918,531 Basic and diluted net income (loss) per limited partner unit $ (0.58 ) $ 0.61 $ 1.48 |
Selected Quarterly Financial 30
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Unaudited Condensed Financial Information | Selected unaudited condensed financial information for the fiscal years ended December 31, 2016 , 2015 and 2014 is presented in the tables below. First Quarter Second Quarter Third Quarter Fourth Quarter For the 2016 Fiscal Year Revenues 64,012 54,460 64,641 64,121 Revenues—related party 5,929 1,818 1,435 1,813 Income (loss) from operations before interest expense, other income and income tax expense 3,269 (5,435 ) (874 ) 743 Loss from operations before tax expense (5,974 ) (15,494 ) (11,141 ) (17,138 ) Net loss (6,054 ) (15,447 ) (11,697 ) (17,355 ) Basic and diluted net loss per limited partner unit (0.07 ) (0.18 ) (0.13 ) (0.20 ) First Quarter Second Quarter Third Quarter Fourth Quarter For the 2015 Fiscal Year Revenues $ 37,745 $ 78,956 $ 100,402 $ 81,587 Revenues—related party — 612 3,281 6,860 Income from operations before interest expense, other income and income tax expense 1,436 17,494 30,834 22,968 Income from operations before tax expense 958 13,706 23,496 14,474 Net income 893 13,478 23,143 14,507 Basic and diluted net income per limited partner unit 0.01 0.16 0.27 0.17 |
Distributions (Tables)
Distributions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Cash Distributions to Unitholders | The Partnership declared the following cash distributions to its unitholders of record for the periods presented: Period of Cash Distribution Distribution Per Common Unit(1) Total Cash Distribution Date of Record Date of Distribution First Quarter, ended March 31, 2014 $ 0.41 $ 33,005 May 22, 2014 May 29, 2014 Second Quarter, ended June 30, 2014 $ 0.48 $ 38,640 August 22, 2014 August 28, 2014 Third Quarter, ended September 30, 2014 $ 0.26 $ 21,709 November 21, 2014 December 3, 2014 Fourth Quarter, ended December 31, 2014 $ 0.33 $ 27,553 March 26, 2015 April 10, 2015 First Quarter, ended March 31, 2015 (2) $ — $ — — — Second Quarter, ended June 30, 2015 (3) $ — $ — — — Third Quarter, ended September 30, 2015 $ 0.41 $ 35,669 November 30, 2015 December 17, 2015 Fourth Quarter, ended December 31, 2015 $ 0.32 $ 27,839 March 30, 2016 April 8, 2016 First Quarter, ended March 31, 2016 $ 0.06 $ 5,220 June 24, 2016 July 8, 2016 Second Quarter, ended June 30, 2016 (4) $ — $ — — — Third Quarter, ended September 30, 2016 (5) $ — $ — — — Fourth Quarter, ended December 31, 2016 (6) $ — $ — — — (1) Cash distributions for a quarter are declared and paid in the following quarter. (2) No distribution was declared for the three-months ended March 31, 2015. (3) No distribution was declared for the three-months ended June 30, 2015. (4) No distribution was declared for the three-months ended June 30, 2016. (5) No distribution was declared for the three-months ended September 30, 2016. (6) No distribution was declared for the three-months ended December 31, 2016. |
Description of Business - Addit
Description of Business - Additional Information (Detail) $ / shares in Units, $ in Thousands | Nov. 04, 2013shares | Oct. 09, 2013shares | Oct. 04, 2013USD ($)$ / sharesshares | May 05, 2011USD ($) | Oct. 31, 2013USD ($) | Dec. 31, 2016USD ($)t | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Subsidiary, Sale of Stock [Line Items] | ||||||||
State of formation | Delaware | |||||||
Date of formation | Feb. 7, 2013 | |||||||
Date of public offering | Oct. 4, 2013 | |||||||
Accounts receivable distribution to Partnership | $ 432 | $ 331 | $ 17,522 | |||||
Accounts payable—related party | 35,000 | 0 | ||||||
OCI USA Inc. | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Cash distribution to partnership | $ 56,700 | |||||||
Accounts receivable distribution to Partnership | 35,616 | |||||||
Trade receivables remitted to related party | 18,285 | |||||||
Related Party Assets | OCI USA Inc. | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Accounts receivable distribution to Partnership | 8,056 | |||||||
Trade Receivables | OCI USA Inc. | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Cash distribution to partnership | 432 | 331 | ||||||
Accounts receivable distribution to Partnership | $ 27,560 | |||||||
Accounts Payable-Related Party | OCI USA Inc. | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Accounts payable—related party | $ 9,579 | $ 9,707 | ||||||
Priced for Sale In IPO | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Number of common units (in units) | shares | 17,500,000 | |||||||
Price per common unit (in dollars per unit) | $ / shares | $ 18 | |||||||
IPO | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Number of common units (in units) | shares | 17,500,000 | |||||||
Aggregate gross proceeds | $ 315,000 | |||||||
Common units issued to OCI USA and its affiliates (in units) | shares | 60,375,000 | |||||||
Expiration of Underwriters' Over-Allotment Option Period | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Common units issued to OCI USA and its affiliates (in units) | shares | 2,625,000 | |||||||
OCI Beaumont LLC | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
State of formation | Texas | |||||||
Date of formation | Dec. 10, 2010 | |||||||
Business combination, consideration transferred | $ 26,500 | |||||||
Methanol | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Annual production capacity, percentage increase | 25.00% | |||||||
Period of Restructuring | 82 days | |||||||
Methanol | Maximum | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Annual production capacity | t | 912,500 | |||||||
Ammonia | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Period of Restructuring | 71 days | |||||||
Ammonia | Maximum | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Annual production capacity | t | 331,000 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Past-due balances | 90 days | ||
Repair and maintenance costs | $ 17,520,000 | $ 22,952,000 | $ 27,287,000 |
Tax basis of assets and liabilities less than reported amount | 379,479,000 | ||
Allowance for Doubtful Accounts Receivable | 0 | 0 | |
Bad debt write-offs | $ 0 | $ 0 | |
Significant customers benchmark | Customers accounted for 10% or more of the Partnership's revenues | Customers accounted for 10% or more of the Partnership's revenues | Customers accounted for 10% or more of the Partnership's revenues |
Environmental remediation obligations | $ 0 | $ 0 | $ 0 |
Texas | |||
Property, Plant and Equipment [Line Items] | |||
Margin Taxes | $ 806,000 | $ 613,000 | $ 1,564,000 |
Summary of Significant Accoun34
Summary of Significant Accounting Policies - Schedule of Customers Accounting for 10% or More of OCIP's Revenues (Detail) - Customer Concentration Risk - Revenues | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Methanex | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 35.00% | 26.00% | 33.00% |
Koch | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 24.00% | 26.00% | 29.00% |
Interoceanic Corporation | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 14.00% | 15.00% | 15.00% |
Summary of Significant Accoun35
Summary of Significant Accounting Policies - Summary of Revenues by Product (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue from External Customer [Line Items] | |||||||||||
Total Revenue | $ 64,121 | $ 64,641 | $ 54,460 | $ 64,012 | $ 81,587 | $ 100,402 | $ 78,956 | $ 37,745 | $ 258,229 | $ 309,443 | $ 402,780 |
Ammonia | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total Revenue | 83,978 | 99,443 | 126,808 | ||||||||
Methanol | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total Revenue | 174,236 | 209,654 | 275,553 | ||||||||
Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total Revenue | $ 15 | $ 346 | $ 419 |
Summary of Significant Accoun36
Summary of Significant Accounting Policies - Schedule of Useful Life of Asset for Depreciation (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Buildings | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 30 years |
Automotive equipment | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Furniture and fixtures | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Minimum | Machinery and equipment | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 4 years |
Maximum | Machinery and equipment | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 15 years |
Summary of Significant Accoun37
Summary of Significant Accounting Policies - Reconciliation of Total Interest Costs to Interest Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Abstract] | |||
Interest cost capitalized | $ 0 | $ 8,586 | $ 6,410 |
Interest cost charged to income | 45,096 | 20,018 | 18,250 |
Interest cost charged to income—related party | 1,777 | 203 | 203 |
Total interest cost | 46,873 | 28,807 | 24,863 |
Amortized debt issuance costs | $ 11,552 | $ 3,710 | $ 2,815 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 787,162 | $ 780,468 |
Less: accumulated depreciation | 166,948 | 105,769 |
Total property, plant and equipment, net | 620,214 | 674,699 |
Land | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 3,371 | 3,371 |
Plant and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 766,263 | 759,209 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 14,685 | 14,612 |
Vehicles | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 55 | 118 |
Furniture, Fixtures & Office Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 629 | 423 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 2,159 | $ 2,735 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Raw materials and work in progress | $ 0 | $ 0 |
Inventories - Summary of Invent
Inventories - Summary of Inventories Balances by Product (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory [Line Items] | ||
Total inventory | $ 7,543 | $ 5,974 |
Ammonia | ||
Inventory [Line Items] | ||
Total inventory | 4,192 | 2,982 |
Methanol | ||
Inventory [Line Items] | ||
Total inventory | $ 3,351 | $ 2,992 |
Debt - Components of Debt (Deta
Debt - Components of Debt (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Nov. 30, 2016 | |
Debt Instrument [Line Items] | |||
Term Loan B Credit Facility | $ 236,305 | ||
Less: Current Portion | 4,480 | $ 4,480 | |
Term Loan Facility, Net | 225,748 | 420,785 | |
Revolving Credit Facility, Net | 0 | $ 24,928 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 2.75% | ||
Interest Rate as of December 31, 2016 | 3.08% | ||
Revolving Credit Facility | $ 25,000 | ||
Less: Unamortized Debit Issue Costs | 72 | ||
Revolving Credit Facility, Net | $ 24,928 | ||
Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | 200,000 | $ 200,000 | |
Original Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 0 | ||
Stated interest rate | 5.50% | ||
Interest Rate as of December 31, 2016 | 6.75% | ||
Original Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 0 | ||
Stated interest rate | 5.50% | ||
Interest Rate as of December 31, 2016 | 6.75% | ||
Term Loan B Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 6.75% | 5.50% | |
Interest Rate as of December 31, 2016 | 8.03% | 6.50% | |
Term Loan B Credit Facility | $ 236,305 | $ 440,785 | |
Less: Current Portion | 4,480 | 4,480 | |
Less: Unamortized Discount and Debit Issue Costs | 6,077 | 15,520 | |
Term Loan Facility, Net | $ 225,748 | $ 420,785 | |
LIBOR | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 3.50% | ||
LIBOR | Original Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% | ||
LIBOR | Original Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% | ||
OCI Fertilizers Trade & Supply B.V. | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 35,000 | ||
Stated interest rate | 3.50% | ||
Interest Rate as of December 31, 2016 | 4.63% | ||
OCI Fertilizers Trade & Supply B.V. | Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 200,000 | ||
Stated interest rate | 6.75% | ||
Interest Rate as of December 31, 2016 | 8.28% | ||
OCI Fertilizers Trade & Supply B.V. | LIBOR | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% | ||
OCI Fertilizers Trade & Supply B.V. | LIBOR | Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% |
Debt - Additional Information (
Debt - Additional Information (Detail) | Jan. 04, 2017USD ($) | Nov. 30, 2016USD ($) | Sep. 15, 2016USD ($) | Mar. 17, 2016USD ($) | Oct. 16, 2015USD ($) | Jul. 02, 2015USD ($) | Mar. 12, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016USD ($) | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Apr. 04, 2014USD ($) | Aug. 20, 2013USD ($)tranch |
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 3.18 | ||||||||||||||||||||||
Debt instrument, additional term | 1 year | ||||||||||||||||||||||
Write off of deferred debt issuance cost | $ 7,600,000 | ||||||||||||||||||||||
Amortization of debt issuance costs | $ 11,552,000 | $ 3,710,000 | $ 2,815,000 | ||||||||||||||||||||
Term Loan Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Consent fee percentage | 0.75% | ||||||||||||||||||||||
Arranger fee, percentage of face value | 0.25% | ||||||||||||||||||||||
Revolving Credit Facility Amendment Two | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Consent fee percentage | 0.25% | ||||||||||||||||||||||
Consent Fee | Term Loan Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | $ 2,963,000 | ||||||||||||||||||||||
Consent Fee | Revolving Credit Facility Amendment Two | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | 100,000 | ||||||||||||||||||||||
Arranger Fee | Term Loan Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | 988,000 | ||||||||||||||||||||||
Other Fees and Expenses | Term Loan Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | 44,000 | ||||||||||||||||||||||
Other Fees and Expenses | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | $ 12,000 | ||||||||||||||||||||||
Other Fees and Expenses | Revolving Credit Facility Amendment Two | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | $ 24,000 | ||||||||||||||||||||||
Revolving Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 40,000,000 | ||||||||||||||||||||||
Additional interest rate over base rate | 2.75% | ||||||||||||||||||||||
Rate of commitment fee | 1.40% | ||||||||||||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | ||||||||||||||||
Interest coverage ratio | 2.50 | 5 | 5 | 5 | 5 | ||||||||||||||||||
Debt instrument term | 1 year | ||||||||||||||||||||||
Interest Coverage Ratio, Actual | 1.57 | ||||||||||||||||||||||
Amortization of debt issuance costs | $ 103,000 | $ 295,000 | 395,000 | ||||||||||||||||||||
Revolving Credit Facility | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 1.75 | ||||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Two | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 2.25 | 2.50 | 2.5 | 2.25 | |||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Three | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 3.75 | 3.75 | 3.75 | ||||||||||||||||||||
Interest coverage ratio | 3.5 | 3.5 | 3.5 | ||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 20,000,000 | ||||||||||||||||||||||
Rate of commitment fee | 1.40% | ||||||||||||||||||||||
Net leverage ratio | 5 | 4.75 | 4.25 | ||||||||||||||||||||
Interest coverage ratio | 2.5 | 2.50 | 3 | ||||||||||||||||||||
Legal fees | $ 31,000 | ||||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Five | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 5 | ||||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Interest coverage ratio | 1.25 | ||||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Six | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 5.25 | 5.5 | 5.5 | 6.25 | |||||||||||||||||||
Interest coverage ratio | 2.25 | 1.75 | 1.50 | 1.25 | |||||||||||||||||||
Revolving Credit Facility | Term Loan Credit Facility Amendment Three | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt fee amount | $ 100,000 | ||||||||||||||||||||||
Amendment fee | 0.25% | ||||||||||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal fees | 30,000 | ||||||||||||||||||||||
Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 3.50% | ||||||||||||||||||||||
Revolving Credit Facility | LIBOR | Revolving Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Basis spread on variable rate, period increase (decrease) | 3.50% | ||||||||||||||||||||||
Revolving Credit Facility | Alternate Base Rate | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 2.50% | ||||||||||||||||||||||
Revolving Credit Facility | OCI Fertilizers Trade & Supply B.V. | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 40,000,000 | $ 40,000,000 | |||||||||||||||||||||
Rate of commitment fee | 0.50% | ||||||||||||||||||||||
Debt outstanding | $ 35,000,000 | ||||||||||||||||||||||
Revolving Credit Facility | OCI Fertilizers Trade & Supply B.V. | LIBOR | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||||||||||
Before Reduction for Amended Revolving Credit Agreement Indebtedness | OCI Fertilizers Trade & Supply B.V. | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 40,000,000 | ||||||||||||||||||||||
Term Loan Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt outstanding | 200,000,000 | $ 200,000,000 | |||||||||||||||||||||
Interest coverage ratio | 2.50 | ||||||||||||||||||||||
Proceeds from Lines of Credit | 200,000,000 | ||||||||||||||||||||||
Term Loan Facility | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | 1.75 | 5 | ||||||||||||||||||
Interest coverage ratio | 5 | 5 | 5 | 2.5 | |||||||||||||||||||
Term Loan Facility | Term Loan Facility Amendment Seven | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 5 | ||||||||||||||||||||||
Interest coverage ratio | 1.25 | ||||||||||||||||||||||
Term Loan Facility | Term Loan Facility Amendment Seven | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 4.75 | 5.25 | 5.5 | 5.5 | 6.25 | ||||||||||||||||||
Interest coverage ratio | 2.25 | 1.75 | 1.50 | 1.25 | |||||||||||||||||||
Term Loan Facility | OCI Fertilizers Trade & Supply B.V. | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 200,000,000 | ||||||||||||||||||||||
Debt outstanding | $ 200,000,000 | ||||||||||||||||||||||
Term Loan Facility | OCI Fertilizers Trade & Supply B.V. | LIBOR | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||||||||||
Senior Secured Term Loan Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Number of tranches of debt | tranch | 2 | ||||||||||||||||||||||
Term Loan B Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 6.75% | 5.50% | |||||||||||||||||||||
Net leverage ratio | 3.18 | 1.75 | 1.75 | 1.75 | 1.75 | ||||||||||||||||||
Interest coverage ratio | 1.57 | 5 | 5 | 5 | 5 | ||||||||||||||||||
Amortization of debt issuance costs | $ 11,419,000 | $ 3,415,000 | $ 2,420,000 | ||||||||||||||||||||
Term Loan B Credit Facility | Term Loan Credit Facility Amendment Four | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 2.25 | 1.75 | 2.5 | 2.50 | 2.25 | ||||||||||||||||||
Term Loan B Credit Facility | Term Loan Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 3.75 | 3.75 | 3.75 | ||||||||||||||||||||
Interest coverage ratio | 3.5 | 3.5 | 3.5 | ||||||||||||||||||||
Legal fees | $ 64,000 | ||||||||||||||||||||||
Term Loan B Credit Facility | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Interest coverage ratio | 2.50 | 3 | |||||||||||||||||||||
Debt fee amount | $ 1,102,000 | ||||||||||||||||||||||
Term Loan B Credit Facility | Term Loan Facility Amendment Seven | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt fee amount | 776,000 | ||||||||||||||||||||||
Legal fees | $ 55,000 | ||||||||||||||||||||||
Term Loan B Credit Facility | Arranger Fee | Term Loan Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt fee amount | 500,000 | ||||||||||||||||||||||
Term Loan B Credit Facility | Other Fees and Expenses | Term Loan Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt fee amount | $ 13,000 | ||||||||||||||||||||||
Term Loan B Credit Facility | Legal Fees | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | $ 31,000 | ||||||||||||||||||||||
Term B-2 Loan | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Term Loan B credit facility | $ 235,000,000 | ||||||||||||||||||||||
Term B-3 Loan | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Term Loan B credit facility | $ 165,000,000 | ||||||||||||||||||||||
Term B-3 Loan | Term Loan Credit Facility Amendment Four | Prepayment Prior To First Anniversary | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument Pre Payment Premium Percentage | 3.00% | ||||||||||||||||||||||
Term B-3 Loan | Term Loan Credit Facility Amendment Four | Prepayment After First Anniversary And On Or Prior To Second Anniversary | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument Pre Payment Premium Percentage | 2.00% | ||||||||||||||||||||||
Term B-3 Loan | Term Loan Credit Facility Amendment Four | Prepayment After Second Anniversary | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Debt Instrument Pre Payment Premium Percentage | 1.00% | ||||||||||||||||||||||
Term B-3 Loan | LIBOR | Term Loan Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 5.50% | ||||||||||||||||||||||
Term B-3 Loan | LIBOR | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 6.75% | ||||||||||||||||||||||
Term B-3 Loan | Alternate Base Rate | Term Loan Credit Facility Amendment Five | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 4.50% | ||||||||||||||||||||||
Term B-3 Loan | Alternate Base Rate | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 5.75% | ||||||||||||||||||||||
Term Loans B Three | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | ||||||||||||||||||||
Principal payment reductions | $ 1,120,000 | ||||||||||||||||||||||
Term Loans B Three | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 1.75 | ||||||||||||||||||||||
Term Loans B Three | Term Loan Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 5 | 4.75 | 4.25 | ||||||||||||||||||||
Term Loans B Three | Term Loan Facility Amendment Six | Scenario, Forecast | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 5 | ||||||||||||||||||||||
Term Loans B Three | LIBOR | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 4.50% | ||||||||||||||||||||||
Term Loans B Three | Alternate Base Rate | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 3.50% | ||||||||||||||||||||||
Term Loan B Facility | OCI Beaumont LLC | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Credit facility, incremental borrowing capacity | 50,000,000 | ||||||||||||||||||||||
Letter of Credit | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Borrowing capacity | $ 20,000,000 | ||||||||||||||||||||||
Incremental Term Loan Credit Facility | Arranger Fee | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | 595,000 | ||||||||||||||||||||||
Incremental Term Loan Credit Facility | Other Fees and Expenses | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | 128,000 | ||||||||||||||||||||||
Incremental Term Loan Credit Facility | Legal Fees | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Legal and structuring fees | $ 183,000 | ||||||||||||||||||||||
OCI Fertilizers Trade & Supply B.V. | Revolving Credit Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||||||||||
OCI Fertilizers Trade & Supply B.V. | Term Loan Facility | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||||||||||
Subsequent Event | Revolving Credit Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Consent fee percentage | 0.25% | ||||||||||||||||||||||
Subsequent Event | Revolving Credit Facility | Revolving Credit Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Net leverage ratio | 2.75 | ||||||||||||||||||||||
Consent fee percentage | 0.25% | ||||||||||||||||||||||
Debt fee amount | $ 100,000 | ||||||||||||||||||||||
Legal fees | $ 36,000 | ||||||||||||||||||||||
Subsequent Event | Revolving Credit Facility | LIBOR | Revolving Credit Facility Amendment Six | |||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||
Basis spread on variable rate, period increase (decrease) | 4.75% |
Debt - Scheduled Maturities wit
Debt - Scheduled Maturities with Respect to Amended Term Loan Facility (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Debt Disclosure [Abstract] | |
2,017 | $ 4,480 |
2,018 | 4,480 |
2,019 | 227,345 |
Total | $ 236,305 |
Related-Party Transactions - Ef
Related-Party Transactions - Effect of Related Party Transactions (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |||||||||||
Revenue | $ 1,813 | $ 1,435 | $ 1,818 | $ 5,929 | $ 6,860 | $ 3,281 | $ 612 | $ 0 | $ 10,995 | $ 10,753 | $ 0 |
Cost of goods sold (exclusive of depreciation) | 179,069 | 165,816 | 218,795 | ||||||||
Selling, general and administrative expenses(1) | 20,016 | 21,232 | 22,356 | ||||||||
Interest expense | 1,777 | 203 | 203 | ||||||||
Related Party Transactions | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Revenue | 10,995 | 10,753 | 0 | ||||||||
Cost of goods sold (exclusive of depreciation) | 16,259 | 16,353 | 13,266 | ||||||||
Selling, general and administrative expenses(1) | 4,160 | 4,326 | 4,428 | ||||||||
Interest expense | $ 1,777 | $ 203 | $ 203 |
Related-Party Transactions - 45
Related-Party Transactions - Effect of Related Party Transactions, Amounts Represented in Selling, General and Administrative Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | $ 20,016 | $ 21,232 | $ 22,356 |
OCI GP LLC | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 3,044 | 3,071 | 2,563 |
OCI Nitrogen B.V. | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 24 | 50 | 183 |
OCI Personnel B.V. | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 308 | 621 | 857 |
Contrack International Inc. | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 700 | 546 | 805 |
OCI Fertilizer BV | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 40 | 38 | 20 |
OCI Fertilizers Trade & Supply B.V. | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | 44 | 0 | 0 |
Related Party Transactions | |||
Related Party Transaction [Line Items] | |||
Total selling, general, and administrative expenses | $ 4,160 | $ 4,326 | $ 4,428 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) - USD ($) | Jun. 30, 2016 | Apr. 17, 2015 | Nov. 10, 2014 | Nov. 27, 2013 | Nov. 04, 2013 | Oct. 09, 2013 | Oct. 31, 2013 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Related Party Transaction [Line Items] | ||||||||||||||||||
Total cost of goods sold (exclusive of depreciation) | $ 179,069,000 | $ 165,816,000 | $ 218,795,000 | |||||||||||||||
Total selling, general, and administrative expenses | 20,016,000 | 21,232,000 | 22,356,000 | |||||||||||||||
Accounts payable—related party | $ 35,000,000 | $ 0 | 35,000,000 | 0 | ||||||||||||||
Selling, general, and administrative expenses—related party | 4,160,000 | 4,326,000 | 4,428,000 | |||||||||||||||
Total amount of capital contribution from subsidiary | 0 | 60,000,000 | 60,000,000 | |||||||||||||||
Accounts receivable distribution to Partnership | 432,000 | 331,000 | 17,522,000 | |||||||||||||||
Cash paid for interest, net of amount capitalized—related party | 0 | 220,000 | 0 | |||||||||||||||
Accounts payable, related party | 304,000 | 0 | 304,000 | 0 | 0 | |||||||||||||
Interest expense | 1,777,000 | 203,000 | 203,000 | |||||||||||||||
Revenues—related party | 1,813,000 | $ 1,435,000 | $ 1,818,000 | $ 5,929,000 | 6,860,000 | $ 3,281,000 | $ 612,000 | $ 0 | 10,995,000 | 10,753,000 | 0 | |||||||
Accounts receivable—related party | 1,322,000 | 5,180,000 | $ 1,322,000 | 5,180,000 | ||||||||||||||
Weighted Average | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Price per common unit (in dollars per unit) | $ 17.132 | |||||||||||||||||
Construction Agreement With Orascom Eandc Usa Inc | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Construction Rate Fixed Fees Percentage | 9.00% | |||||||||||||||||
Construction and development costs | $ 0 | 239,000 | $ 101,454,000 | |||||||||||||||
Orascom E&C USA | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Accounts payable - related party | 0 | 0 | 0 | $ 0 | ||||||||||||||
Intercompany Equity Commitment Agreement | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Common units issued by Partnership (in units) | 3,502,218 | 2,995,372 | 3,502,218 | 2,995,372 | ||||||||||||||
Price per common unit (in dollars per unit) | $ 17.132 | $ 20.0309 | ||||||||||||||||
Threshold trading period for trading price calculation | 21 days | 20 days | ||||||||||||||||
Common units held by OCIP Holding (in units) | 69,497,590 | 65,995,372 | ||||||||||||||||
Limited partner interest, Percent | 79.88% | 79.04% | ||||||||||||||||
Due from Affiliates | $ 0 | |||||||||||||||||
IPO | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Common units issued to OCI USA and its affiliates (in units) | 60,375,000 | |||||||||||||||||
Expiration of Underwriters' Over-Allotment Option Period | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Common units issued to OCI USA and its affiliates (in units) | 2,625,000 | |||||||||||||||||
OCI GP LLC | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Total selling, general, and administrative expenses | 3,044,000 | $ 3,071,000 | $ 2,563,000 | |||||||||||||||
OCI GP LLC | Omnibus Agreement | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Costs incurred under contract | 19,303,000 | 19,424,000 | 15,827,000 | |||||||||||||||
Total cost of goods sold (exclusive of depreciation) | 16,259,000 | 16,353,000 | 13,264,000 | |||||||||||||||
Accounts payable—related party | 3,147,000 | 1,522,000 | 3,147,000 | 1,522,000 | ||||||||||||||
OCI Nitrogen B.V. and OCI Personnel B.V. and Contrack International Inc. and OCI Fertilizer | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Selling, general, and administrative expenses—related party | 1,116,000 | 1,255,000 | 1,865,000 | |||||||||||||||
OCI Nitrogen B.V. and OCI Personnel B.V. and Contrack International Inc. and OCI Fertilizer | Omnibus Agreement | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Accounts payable—related party | 631,000 | 1,394,000 | 631,000 | 1,394,000 | ||||||||||||||
OCI USA Inc. | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Accounts receivable distribution to Partnership | $ 35,616,000 | |||||||||||||||||
Capital distributions | 56,700,000 | |||||||||||||||||
OCI USA Inc. | Trade Receivables | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Accounts receivable distribution to Partnership | $ 27,560,000 | |||||||||||||||||
Capital distributions | 432,000 | 331,000 | ||||||||||||||||
OCI USA Inc. | Accounts Payable-Related Party | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Accounts payable—related party | 9,579,000 | 9,707,000 | $ 9,579,000 | 9,707,000 | ||||||||||||||
OCI USA Inc. | Intercompany Equity Commitment Agreement | Maximum | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Equity contributions commitment amount | $ 100,000,000 | |||||||||||||||||
OCI USA Inc. | Expiration of Underwriters' Over-Allotment Option Period | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Total amount of capital contribution from subsidiary | $ 0 | |||||||||||||||||
O C I Fertilizers U S A L L C | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Cash paid for interest, net of amount capitalized—related party | $ 304,000 | |||||||||||||||||
Accounts payable, related party | $ 304,000 | $ 304,000 | ||||||||||||||||
Sales Commission Fee, Percent | 1.50% | |||||||||||||||||
Revenues—related party | $ 7,731,000 | 6,546,000 | 0 | |||||||||||||||
Accounts receivable—related party | 1,322,000 | 660,000 | 1,322,000 | 660,000 | ||||||||||||||
OCI Fertilized Trade & Supply B.V. | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Revenues—related party | 3,265,000 | 4,208,000 | $ 0 | |||||||||||||||
Accounts receivable—related party | $ 0 | $ 4,208,000 | $ 0 | $ 4,208,000 | ||||||||||||||
OCIP Holding | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Total amount of capital contribution from subsidiary | $ 60,000,000 | |||||||||||||||||
Threshold trading period for trading price calculation | 21 days | |||||||||||||||||
Common units held by OCIP Holding (in units) | 69,497,590 | |||||||||||||||||
Limited partner interest, Percent | 79.88% | |||||||||||||||||
Capital contribution from the affiliates | $ 40,000,000 | |||||||||||||||||
Cash contribution from affiliates | 20,000,000 | |||||||||||||||||
OCIP Holding | Intercompany Equity Commitment Agreement | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Total amount of capital contribution from subsidiary | $ 60,000,000 | $ 60,000,000 | ||||||||||||||||
Common units issued by Partnership (in units) | 3,502,218 |
Partners' Capital - Reconciliat
Partners' Capital - Reconciliation of Limited Partner Units Outstanding (Detail) - shares | Apr. 17, 2015 | Nov. 10, 2014 | Dec. 31, 2015 | Dec. 31, 2014 |
Reconciliation of Limited Partner Units Outstanding | ||||
Beginning Balance, LP, Units | 83,495,372 | 80,500,000 | ||
Ending Balance, LP, Units | 86,997,590 | 83,495,372 | ||
Intercompany Equity Commitment Agreement | ||||
Reconciliation of Limited Partner Units Outstanding | ||||
Units issued in connection with the Equity Commitment Agreement (in units) | 3,502,218 | 2,995,372 | 3,502,218 | 2,995,372 |
Partners' Capital - Additional
Partners' Capital - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Apr. 17, 2015 | Nov. 10, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Subsidiary, Sale of Stock [Line Items] | |||||
Total amount of capital contribution from subsidiary | $ 0 | $ 60,000 | $ 60,000 | ||
Intercompany Equity Commitment Agreement | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Common units issued by Partnership (in units) | 3,502,218 | 2,995,372 | 3,502,218 | 2,995,372 | |
Price per common unit (in dollars per unit) | $ 17.132 | $ 20.0309 | |||
Threshold trading period for trading price calculation | 21 days | 20 days | |||
Common units held by OCIP Holding (in units) | 69,497,590 | 65,995,372 | |||
Limited partner interest, Percent | 79.88% | 79.04% | |||
Capital contribution from the affiliates | $ 40,000 | ||||
Cash contribution from affiliates | 20,000 | ||||
OCIP Holding | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Total amount of capital contribution from subsidiary | $ 60,000 | ||||
Threshold trading period for trading price calculation | 21 days | ||||
Common units held by OCIP Holding (in units) | 69,497,590 | ||||
Limited partner interest, Percent | 79.88% | ||||
OCIP Holding | Intercompany Equity Commitment Agreement | |||||
Subsidiary, Sale of Stock [Line Items] | |||||
Total amount of capital contribution from subsidiary | $ 60,000 | $ 60,000 | |||
Common units issued by Partnership (in units) | 3,502,218 |
Retention Bonus Plan - Addition
Retention Bonus Plan - Additional information (Detail) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2016USD ($) | Jan. 31, 2015USD ($) | Dec. 31, 2016bonus | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Compensation Related Costs [Abstract] | |||||
Retention bonus plan, description | Each non-executive employee was eligible to receive up to two retention bonuses, pursuant to this plan. Each retention bonus equaled three times the employee’s base monthly salary or wages in effect on the applicable retention bonus payment date. | ||||
Number of retention bonuses | bonus | 2 | ||||
Retention bonus plan, salary multiple | 300.00% | ||||
Retention bonus accrued | $ 2,738 | $ 2,190 | |||
Retention Bonus Paid | $ 2,738 | $ 2,190 |
Commitments, Contingencies an50
Commitments, Contingencies and Legal Proceedings - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Environmental remediation expense | $ 0 | $ 0 | |
Nitrogen | |||
Unrecorded Unconditional Purchase Obligation [Line Items] | |||
Nitrogen purchased | $ 10,194,000 | $ 7,742,000 | $ 6,354,000 |
Commitments, Contingencies an51
Commitments, Contingencies and Legal Proceedings Purchase Obligations (Details) - Nitrogen $ in Thousands | Dec. 31, 2016USD ($) |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Total purchase obligation | $ 55,215 |
2,017 | 7,362 |
2,018 | 7,362 |
2,019 | 7,362 |
2,020 | 7,362 |
2,021 | 7,362 |
Thereafter | $ 18,405 |
Earnings per Limited Partner 52
Earnings per Limited Partner Unit - Computation of Basic and Diluted Earnings per Limited Partner Unit (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net income (loss) | $ (50,553) | $ 52,021 | $ 119,448 | ||||||||
Basic and diluted weighted average number of limited partner units outstanding (in units) | 86,997,590 | 85,970,912 | 80,918,531 | ||||||||
Basic and diluted net income (loss) per limited partner unit (in dollars per share) | $ (0.20) | $ (0.13) | $ (0.18) | $ (0.07) | $ 0.17 | $ 0.27 | $ 0.16 | $ 0.01 | $ (0.58) | $ 0.61 | $ 1.48 |
Selected Quarterly Financial 53
Selected Quarterly Financial Data (Unaudited) - Selected Unaudited Condensed Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $ 64,121 | $ 64,641 | $ 54,460 | $ 64,012 | $ 81,587 | $ 100,402 | $ 78,956 | $ 37,745 | $ 258,229 | $ 309,443 | $ 402,780 |
Revenues—related party | 1,813 | 1,435 | 1,818 | 5,929 | 6,860 | 3,281 | 612 | 0 | 10,995 | 10,753 | 0 |
Income (loss) from operations before interest expense, other income and income tax expense | 743 | (874) | (5,435) | 3,269 | 22,968 | 30,834 | 17,494 | 1,436 | (2,297) | 72,732 | 138,524 |
Income (loss) from operations before tax expense | (17,138) | (11,141) | (15,494) | (5,974) | 14,474 | 23,496 | 13,706 | 958 | (49,747) | 52,634 | 121,012 |
Net income (loss) | $ (17,355) | $ (11,697) | $ (15,447) | $ (6,054) | $ 14,507 | $ 23,143 | $ 13,478 | $ 893 | $ (50,553) | $ 52,021 | $ 119,448 |
Basic and diluted net income (loss) per limited partner unit (in dollars per share) | $ (0.20) | $ (0.13) | $ (0.18) | $ (0.07) | $ 0.17 | $ 0.27 | $ 0.16 | $ 0.01 | $ (0.58) | $ 0.61 | $ 1.48 |
Distributions - Schedule of Cas
Distributions - Schedule of Cash Distributions to Unitholders (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | |
Equity [Abstract] | ||||||||||||
Distribution Per Common Unit, (dollars per share) | $ 0 | $ 0 | $ 0 | $ 0.06 | $ 0.32 | $ 0.41 | $ 0 | $ 0 | $ 0.33 | $ 0.26 | $ 0.48 | $ 0.41 |
Total Cash Distribution | $ 0 | $ 0 | $ 0 | $ 5,220 | $ 27,839 | $ 35,669 | $ 0 | $ 0 | $ 27,553 | $ 21,709 | $ 38,640 | $ 33,005 |
Date of Record | Jun. 24, 2016 | Mar. 30, 2016 | Nov. 30, 2015 | Mar. 26, 2015 | Nov. 21, 2014 | Aug. 22, 2014 | May 22, 2014 | |||||
Date of Distribution | Jul. 8, 2016 | Apr. 8, 2016 | Dec. 17, 2015 | Apr. 10, 2015 | Dec. 3, 2014 | Aug. 28, 2014 | May 29, 2014 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Thousands | Jan. 04, 2017USD ($) | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 |
Subsequent Event [Line Items] | |||||||||||||
Net leverage ratio | 3.18 | ||||||||||||
Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | 1.75 | ||||||
Interest coverage ratio | 2.50 | 5 | 5 | 5 | 5 | ||||||||
Revolving Credit Facility Amendment Six | Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Interest coverage ratio | 1.25 | ||||||||||||
Scenario, Forecast | Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Net leverage ratio | 1.75 | ||||||||||||
Scenario, Forecast | Revolving Credit Facility Amendment Six | Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Net leverage ratio | 5.25 | 5.5 | 5.5 | 6.25 | |||||||||
Interest coverage ratio | 2.25 | 1.75 | 1.50 | 1.25 | |||||||||
Subsequent Event | Revolving Credit Facility Amendment Six | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Consent fee percentage | 0.25% | ||||||||||||
Subsequent Event | Revolving Credit Facility Amendment Six | Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Net leverage ratio | 2.75 | ||||||||||||
Consent fee percentage | 0.25% | ||||||||||||
Debt fee amount | $ 100 | ||||||||||||
Legal fees | $ 36 | ||||||||||||
Subsequent Event | Revolving Credit Facility Amendment Six | LIBOR | Revolving Credit Facility | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Basis spread on variable rate, period increase (decrease) | 4.75% |