Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 05, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | OCI Partners LP | ||
Trading Symbol | OCIP | ||
Entity Central Index Key | 1,578,932 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Common Stock, Shares Outstanding | 86,997,590 | ||
Entity Public Float | $ 154.9 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 16,275 | $ 8,080 |
Accounts receivable | 32,032 | 22,170 |
Accounts receivable—related party | 6,503 | 1,322 |
Inventories | 6,041 | 7,543 |
Advances due from related parties | 188 | 525 |
Other current assets and prepaid expenses | 3,917 | 2,712 |
Total current assets | 64,956 | 42,352 |
Property, plant, and equipment, net of accumulated depreciation of $227,050 and $166,948 respectively | 558,206 | 620,214 |
Other non-current assets | 942 | 1,176 |
Total assets | 624,104 | 663,742 |
Current liabilities: | ||
Accounts payable | 14,812 | 20,557 |
Accounts payable—related party | 14,268 | 13,357 |
Other payables and accruals | 2,652 | 2,620 |
Revolving credit facility, net | 15,977 | 0 |
Revolving credit facility—related party | 0 | 35,000 |
Current maturities of the term loan facility | 4,480 | 4,480 |
Accrued interest | 2,402 | 2,523 |
Accrued interest—related party | 1,468 | 1,675 |
Other current liabilities | 1,150 | 1,942 |
Total current liabilities | 57,209 | 82,154 |
Term loan facility, net | 223,428 | 225,748 |
Term loan facility—related party | 200,000 | 200,000 |
Other non-current liabilities | 3,146 | 2,589 |
Total liabilities | 483,783 | 510,491 |
Partners’ capital: | ||
Common unitholders—86,997,590 units issued and outstanding at December 31, 2017 and 2016 | 140,321 | 153,251 |
General partner’s interest | 0 | 0 |
Total partners’ capital | 140,321 | 153,251 |
Total liabilities and partners’ capital | $ 624,104 | $ 663,742 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Accumulated depreciation | $ 227,050 | $ 166,948 |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Statement [Abstract] | |||
Revenues | $ 324,883 | $ 247,234 | $ 298,690 |
Revenues—related party | 18,442 | 10,995 | 10,753 |
Total Revenue | 343,325 | 258,229 | 309,443 |
Cost of goods sold (exclusive of depreciation) | 181,466 | 162,810 | 149,463 |
Cost of goods sold (exclusive of depreciation)—related party | 17,384 | 16,259 | 16,353 |
Total cost of goods sold (exclusive of depreciation) | 198,850 | 179,069 | 165,816 |
Selling, general, and administrative expenses | 12,322 | 15,856 | 16,906 |
Selling, general, and administrative expenses—related party | 3,476 | 4,160 | 4,326 |
Total selling, general, and administrative expenses | 15,798 | 20,016 | 21,232 |
Depreciation expense | 61,045 | 61,441 | 49,663 |
Income (loss) from operations before interest expense, other income (expense) and income tax expense | 67,632 | (2,297) | 72,732 |
Interest expense | 22,857 | 45,096 | 20,018 |
Interest expense—related party | 17,339 | 1,777 | 203 |
Other income (expense) | (2,082) | (577) | 123 |
Income (loss) from operations before tax expense | 25,354 | (49,747) | 52,634 |
Income tax expense | 875 | 806 | 613 |
Net income (loss) | $ 24,479 | $ (50,553) | $ 52,021 |
Earnings (loss) per limited partner unit: | |||
Common unit (basic and diluted, in dollars per share) | $ 0.28 | $ (0.58) | $ 0.61 |
Weighted average number of limited partner units outstanding: | |||
Common units (basic and diluted, in units) | 86,997,590 | 86,997,590 | 85,970,912 |
Consolidated Statements of Part
Consolidated Statements of Partners' Capital - USD ($) $ in Thousands | Total | Common Units |
Beginning Balance, LP, Units at Dec. 31, 2014 | 86,997,590 | 83,495,372 |
Beginning 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 |
Partners' Capital | ||
Distributions | (7,525) | (7,525) |
Distributions—related party | (29,884) | (29,884) |
Net income (loss) | $ 24,479 | $ 24,479 |
Ending Balance, LP, Units at Dec. 31, 2017 | 86,997,590 | 86,997,590 |
Ending Balance, LP at Dec. 31, 2017 | $ 140,321 | $ 140,321 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 24,479 | $ (50,553) | $ 52,021 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation expense | 61,045 | 61,441 | 49,663 |
Amortization of debt issuance costs | 2,273 | 11,552 | 3,710 |
(Gain) loss on disposition of fixed assets | 2,043 | 567 | (16) |
Deferred income tax expense | 557 | 855 | 557 |
Decrease (increase) in: | |||
Accounts receivable | (9,862) | 6,384 | 7,253 |
Accounts receivable—related party | (5,181) | 3,858 | (5,180) |
Inventories | 1,502 | (1,569) | 178 |
Advances due from related parties | 337 | (469) | 41 |
Other non-current assets, other current assets and prepaid expenses | (971) | 2,021 | (858) |
Increase (decrease) in: | |||
Accounts payable | (4,681) | 491 | (2,106) |
Accounts payable—related party | 1,162 | 861 | 1,511 |
Other payables, accruals, and current liabilities | (803) | (4,710) | 1,672 |
Accrued interest | (121) | (893) | (7,480) |
Accrued interest—related party | (207) | 1,776 | (17) |
Net cash provided by operating activities | 71,572 | 31,612 | 100,949 |
Cash flows from investing activities: | |||
Purchase of property, plant, and equipment | (2,128) | (6,785) | (223,540) |
Proceeds from sale of scrap equipment | 27 | 24 | 2,503 |
Net cash used in investing activities | (2,101) | (6,761) | (221,037) |
Cash flows from financing activities: | |||
Proceeds from revolving credit facility | 102,500 | 69,500 | 40,000 |
Proceeds from term loan B credit facility | 0 | 0 | 50,000 |
Repayment of revolving credit facility | (86,500) | (94,500) | (15,000) |
Repayment of term loan B credit facility | (4,480) | (204,480) | (4,230) |
Repayment of revolving credit facility—related party | (40,000) | (34,170) | 0 |
Cash contributions by member | 0 | 0 | 60,000 |
Debt issuance costs | (136) | (2,038) | (5,701) |
Remittance of cash to OCI USA for transferred trade receivables | (251) | (432) | (331) |
Distribution to Unitholders | (7,525) | (6,650) | (12,950) |
Distribution to Unitholders—related party | (29,884) | (26,409) | (50,272) |
Net cash provided by (used in) financing activities | (61,276) | (30,009) | 61,516 |
Net increase (decrease) in cash and cash equivalents | 8,195 | (5,158) | (58,572) |
Cash and cash equivalents, beginning of period | 8,080 | 13,238 | 71,810 |
Cash and cash equivalents, end of period | 16,275 | 8,080 | 13,238 |
Supplemental cash disclosures: | |||
Cash paid for income taxes | 0 | 100 | 1,200 |
Cash paid for interest, net of amount capitalized | 20,654 | 34,376 | 15,166 |
Cash paid for interest, net of amount capitalized—related party | 17,546 | 0 | 220 |
Supplemental non-cash disclosures: | |||
Accruals of property, plant and equipment purchases | 338 | 1,359 | 598 |
Capitalized interest | 0 | 0 | 8,586 |
Noncash settlement for accrued interest—related party | 0 | 304 | 0 |
Revolving Credit Facility | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Amortization of debt issuance costs | 112 | 103 | 295 |
Cash flows from financing activities: | |||
Proceeds from related party debt | 5,000 | 69,170 | 0 |
Term Loan Facility | |||
Cash flows from financing activities: | |||
Proceeds from related party debt | $ 0 | $ 200,000 | $ 0 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2017 | |
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. Termination of Negotiations on Proposed Transaction On April 14, 2017, OCI terminated negotiations with the conflicts committee of the board of directors of our general partner regarding OCI's previously announced offer to acquire all publicly held common units of the Partnership in exchange for OCI shares, at an exchange ratio of 0.5200 OCI shares for each common unit. OCI, together with its affiliates, currently owns approximately 89.26% of the issued and outstanding common units of the Partnership. After negotiations with the conflicts committee established by the board of directors of our general partner reached an impasse, OCI informed representatives of the conflicts committee that no acceptable definitive agreement could be reached. 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, 2017 | |
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, 2017 , 2016 and 2015 . The Partnership does not have any off-balance-sheet credit exposure related to its customers. During the years ended December 31, 2017 , 2016 and 2015 , the following customers accounted for 10% or more of the Partnership’s revenues: Percentage of Revenues Customer name 2017 2016 2015 Methanex 40 % 35 % 26 % Southern Chemical Distribution 14 % * * Koch (1) * 24 % 26 % Interoceanic Corporation (IOC) * 14 % 15 % _____________________________________ (1) Figure presented includes sales to Koch Fertilizer LLC and Koch Methanol LLC. * Customer accounted for less than 10% of the Partnership's revenues for the period presented. 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 net realizable value, 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 receipt. (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 the 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, 2017 , 2016 and 2015 : 2017 2016 2015 Ammonia $ 76,546 $ 83,978 $ 99,443 Methanol 266,764 174,236 209,654 Other 15 15 346 Total $ 343,325 $ 258,229 $ 309,443 (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 Costs 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, 2017 , 2016 and 2015 , we expensed approximately $16,001 , $17,520 and $22,952 , 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, 2017 , the tax basis of our assets and liabilities were $412,155 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, 2017 , 2016 and 2015 , we recorded Texas Margin Taxes of $875 , $806 and $613 , 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, 2017 , 2016 and 2015 , 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 to 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, 2017 , 2016 and 2015 , 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 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Interest cost capitalized $ — $ — $ 8,586 Interest cost charged to income (1) 22,857 45,096 20,018 Interest cost charged to income—related party 17,339 1,777 203 Total interest cost $ 40,196 $ 46,873 $ 28,807 _____________________________________ (1) Includes $2,273 , $11,552 and $3,710 of amortized debt issuance costs for the years ended December 31, 2017 , 2016 and 2015 (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, 2017 and 2016 . 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, 2017 and 2016 . |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
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 May 28, 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), 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 or modified retrospective 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 has elected the modified retrospective approach as the transition method. Other than additional required disclosures, the adoption of ASU 2014-09 is not expected to have a material impact on the Partnership's consolidated financial statements. Effective January 1, 2017 we adopted ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The FASB issued this ASU on November 20, 2015 as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and International Financial Reporting Standards (“IFRS”). Previously, GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify 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 has been applied prospectively and did not have any impact on the Partnership’s consolidated financial statements. Effective January 1, 2017 we adopted ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The FASB issued this ASU on July 22, 2015 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 or 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 did not have any impact on the Partnership’s consolidated financial statements. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment 2017 2016 Land $ 3,371 $ 3,371 Plant and equipment 765,651 766,263 Buildings 14,933 14,685 Vehicles 55 55 Furniture, Fixtures & Office Equipment 629 629 Construction in progress 617 2,159 785,256 787,162 Less: accumulated depreciation 227,050 166,948 $ 558,206 $ 620,214 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories As of December 31, 2017 and 2016 , 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, 2017 and 2016 : 2017 2016 Ammonia $ 2,050 $ 4,192 Methanol 3,991 3,351 Total $ 6,041 $ 7,543 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt | Debt (a) Debt—Related Party December 31, Interest Rate Interest Rate as of Maturity Date Term Loan Facility — Related Party $ 200,000 6.75% + Adjusted LIBOR + 0.25% 8.42 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility—Related Party $ 35,000 3.50% + Adjusted 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 The intercompany revolving credit facility between OCIB and OCI USA (the “Revolving Credit Facility—Related Party”) became effective on November 30, 2016 and 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, 2017 , OCIB had no amounts drawn under the Revolving Credit Facility—Related Party. The intercompany term loan facility between OCIB and OCI USA (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) 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, 2017 , OCIB had $200,000 drawn under the Term Loan Facility—Related Party. (b) Debt—Third Party December 31, Interest Rate Interest Rate as of December 31, Maturity Date Revolving Credit Facility $ 16,000 4.75% + LIBOR 6.30 % March 31, 2018 Less: Unamortized Debit Issue Costs 23 Revolving Credit Facility, Net $ 15,977 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 231,825 6.75% + Adjusted LIBOR 8.17 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 3,917 Term Loan Facility, Net $ 223,428 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 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. The Term Loan B Credit Facility is comprised of three tranches of term debt in the amounts of $235,000 (the “Term B-2 Loan”), $165,000 (the “Term B-3 Loan”) and $50,000 (the “Term B-4 Loan”) and, together with the Term B-2 Loan and the Term B-3 Loan, the “Term B Loans”). On March 17, 2016, OCIB, the Partnership and OCI USA entered into Amendment No. 6 to the Term Loan B Credit Facility (“Term Loan Amendment No. 6”) 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 each of 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 each of 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 each of 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 each of 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) 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. 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 was included as a component of interest expense in the consolidated statement of operations for the year ended December 31, 2016. 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. Interest on the Term Loan B Credit Facility accrues, at OCIB's option, at adjusted LIBOR plus 6.75% per annum or the alternate base rate (as each such term is defined in the Term Loan B Credit Facility) plus 5.75% . 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 at December 31, 2017 are as follows: Fiscal Year 2018 $ 4,480 2019 227,345 Total $ 231,825 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). In addition, 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. Under the Term Loan B Credit Facility, OCIB is also subject to certain financial covenants that are tested on a quarterly basis. As of December 31, 2017 , 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, 2017, 5.25 to 1.00, and (b) 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 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 (excluding interest recorded on subordinated debt). As of December 31, 2017 , OCIB’s consolidated senior secured net leverage ratio was 1.79 to 1.00, and its consolidated interest coverage ratio was 5.63 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, 2017 , the OCIB was in compliance with all of 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 aggregate borrowing capacity of the Revolving Credit Facility was reduced by $2,500 on the last day of each fiscal quarter commencing with the fiscal quarter ending June 30, 2017, leaving an aggregate borrowing capacity of $32,500 as of December 31, 2017. All proceeds from this facility are used by OCIB for working capital, capital expenditures and other general corporate purposes. On March 11, 2016, OCIB, the Partnership and OCI USA entered into Amendment No. 4 to the Revolving Credit Facility (“Revolving Credit Amendment No. 4”) 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 each of 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 each of 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 to the Revolving Credit Facility (“Revolving Credit Amendment No. 6”) 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 each of 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 each of 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 repay borrowings outstanding under the Revolving Credit Facility, (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. Outstanding principal amounts under the Revolving Credit Facility bear interest at OCIB’s option at either LIBOR plus a margin of 4.75% or a base rate plus a margin of 3.75% . 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. As of December 31, 2017, OCIB had $16,000 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, 2017 , OCIB may not permit, on the last day of any fiscal quarter (i) the consolidated senior secured net leverage ratio to exceed 5.25 to 1.00, for the fiscal quarter ending December 31, 2017 and (ii) the consolidated interest coverage ratio on the last day of the fiscal quarter to be less than 2.25 to 1.00, for the fiscal quarter ending December 31, 2017. 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 (excluding interest recorded on subordinated debt). As of December 31, 2017 , OCIB’s consolidated senior secured net leverage ratio was 1.79 to 1.00, and its consolidated interest coverage ratio was 5.63 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, 2017 , the OCIB was in compliance with all of 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 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. 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 was included as a component of interest expense in the consolidated statements of operations for the year ended December 31, 2016. 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 $2,161 , $11,419 and $3,415 during the years ended December 31, 2017 , 2016 , and 2015 , 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. 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 $112 , $103 and $295 during the years ended December 31, 2017 , 2016 , and 2015 , 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, 2017 | |
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 following table represents the effect of related party transactions of the consolidated results of operations for the years ended December 31, 2017 , 2016 and 2015 : Years Ended December 31, 2017 2016 2015 Revenue $ 18,442 $ 10,995 $ 10,753 Cost of goods sold (exclusive of depreciation) (1) 17,384 16,259 16,353 Selling, general and administrative expenses (2) 3,476 4,160 4,326 Interest expense 17,339 1,777 203 (1) Amounts represented in cost of goods sold (exclusive of depreciation) were incurred to the following related parties: Years Ended December 31, 2017 2016 2015 OCI GP LLC $ 15,264 $ 16,259 $ 16,353 OCI USA 2,120 — — Total cost of goods sold (exclusive of depreciation)—related party $ 17,384 $ 16,259 $ 16,353 (2) Amounts represented in selling, general and administrative expense were incurred to the following related parties: Years Ended December 31, 2017 2016 2015 OCI GP LLC $ 2,467 $ 3,044 $ 3,071 OCI Nitrogen B.V. 20 24 50 OCI Personnel B.V. 30 308 621 OCI USA 300 — — Contrack International Inc. 641 700 546 OCI Fertilizers BV 18 40 38 OCI Fertilizer Trade & Supply B.V. — 44 — Total selling, general and administrative expenses—related party $ 3,476 $ 4,160 $ 4,326 Our Agreements with OCI Omnibus Agreement We are party to an omnibus agreement with 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 has agreed to 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 has agreed to 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, 2017 , 2016 and 2015 , costs totaling $17,731 , $19,303 and $19,424 , 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, 2017 , 2016 and 2015 , $15,264 , $16,259 and $16,353 , respectively, were recorded in cost of goods sold (exclusive of depreciation)—related party and $ 2,467 , $ 3,044 and $ 3,071 , 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 $4,433 and $3,147 as of December 31, 2017 and December 31, 2016 , 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., an indirect, wholly-owned subsidiary of OCI, (iii) Contrack International Inc., an affiliate of OCI, (iv) OCI Fertilizers BV, an indirect, wholly-owned subsidiary of OCI (“OCI Fertilizers”), and (v) OCI Fertilizer Trade & Supply B.V., an indirect, wholly-owned subsidiary of OCI Fertilizers (“OCI Fertilizer Trade & Supply”), 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 $1,009 , $1,116 and $1,255 during the years ended December 31, 2017 , 2016 and 2015 , respectively. Accounts payable—related party include amounts incurred but unpaid to the aforementioned parties of $506 and $631 as of December 31, 2017 and December 31, 2016 , respectively. Distributions and Payments to OCI USA and Its Affiliates Prior to the completion of our initial public offering, certain assets of OCIB were distributed 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, 2017 and 2016, we remitted $251 and $ 432 , 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 International B.V. (“OCI Fertilizer International”), an indirect, wholly-owned subsidiary of OCI, 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 International. 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 $9,329 and $ 9,579 as of December 31, 2017 and 2016 , respectively. Advances due from Related Parties Advances due from related parties represent unreimbursed expenses incurred on behalf of OCI and its affiliates. These advances are unsecured, non-interest bearing and are due on demand. As of December 31, 2017 and December 31, 2016 , the Partnership had $ 188 and $ 525 , respectively, due from related parties. Set forth below is a table showing the amounts due from the following related parties: Years Ended December 31, 2017 2016 OCI N.V. $ 27 $ 56 NatGasoline, LLC (1) 150 446 Iowa Fertilizer Company LLC (2) — 23 Orascom E&C USA Inc. (3) 7 — Texam, LLC (4) 4 — Total advances due from related party $ 188 $ 525 ____________________________________ (1) OCI indirectly owns a 50% interest in NatGasoline, LLC. (2) Iowa Fertilizer Company LLC is an indirect, wholly-owned subsidiary of OCI. (3) Orascom E&C USA Inc. is an affiliate of OCI. (4) Texam, LLC is an indirect, wholly-owned subsidiary of OCI. 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, 2017 , 2016 and 2015 of $17,339 , $1,777 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. Accrued interest—related party includes amounts incurred but unpaid to OCI USA of $ 1,468 and $ 1,675 as of December 31, 2017 and December 31, 2016 , respectively. 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 ended on May 31, 2017 and renews automatically on an annual basis 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, 2017 , 2016 and 2015 , we had related party sales of $ 10,080 , $ 7,731 and $ 6,546 , respectively, for the sale of ammonia to OCI Fertilizers USA. Accounts Receivable—related party includes amounts due from OCI Fertilizers USA of $ 1,382 and $ 1,322 as of December 31, 2017 and December 31, 2016 , respectively. On December 14, 2015, OCIB entered into an agreement with OCI Fertilizer Trade & Supply, an international trader of ammonia, to supply OCI Fertilizer Trade & Supply with commercial grade anhydrous ammonia. OCI Fertilizer Trade & Supply purchased 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. On July 1, 2017, OCIB entered into an ammonia purchase agreement with OCI Fertilizer Trade & Supply to supply OCI Fertilizer Trade & Supply with approximately 22,500 metric tons of commercial grade anhydrous ammonia during July and August of 2017. On December 20, 2017, OCIB entered into an ammonia purchase agreement with OCI Fertilizer Trade & Supply to supply OCI Fertilizer Trade & Supply with approximately 16,300 metric tons of commercial grade anhydrous ammonia during December of 2017. During the years ended December 31, 2017 , 2016 and 2015 , we had related party sales of $ 8,362 , $ 3,265 and $ 4,208 , respectively, for the sale of ammonia to OCI Fertilizer Trade & Supply Accounts Receivable—related party includes amounts due from OCI Fertilizer Trade & Supply of $5,121 as of December 31, 2017 . No amounts were due from Fertilizer Trade & Supply as of December 31, 2016 . Methanol Supply and Sales Agreement On May 18, 2017, in order to fulfill its contracted sales commitments during the unplanned shutdown that occurred in April and May of 2017, OCIB entered into a methanol purchase and sale agreement with OCI USA pursuant to which OCI USA agreed to sell and deliver a methanol volume of approximately 7,000 metric tons to OCIB, and OCIB agreed to purchase and receive the methanol volume. Under the terms of the agreement, OCIB purchased the methanol from OCI USA at the May 2017 spot price of $303 per metric ton and paid the costs associated with delivery of the methanol to the Beaumont facility. During the year ended December 31, 2017 , the cost of the methanol purchased from OCI USA of approximately $2,120 was included in cost of goods sold (exclusive of depreciation)—related party in the accompanying consolidated statements of operations. No methanol was purchased from OCI USA during the years ended December 31, 2016 or 2015 . No amounts were payable to OCI USA in relation to the methanol supply and sales agreement as of December 31, 2017 or 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 agreed to 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 had liquidity needs for working capital or other needs and the restrictions under the Term Loan B Credit Facility or any other debt instrument prohibited the Partnership or OCIB from incurring sufficient additional debt to fund such liquidity needs; or (b) OCIB failed to comply with any of the financial covenants as of the last day of any fiscal quarter. Due to 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, 2017 | |
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 January 1, 2015 86,997,590 Limited partner units outstanding at December 31, 2015 86,997,590 Limited partner units outstanding at December 31, 2016 86,997,590 Limited partner units outstanding at December 31, 2017 86,997,590 On April 17, 2015, pursuant to the Intercompany Equity Commitment, 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, 2017 | |
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, 2017 | |
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, 2017 and 2016 . 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, 2017 are summarized in the following table: Total 2018 2019 2020 2021 2022 Thereafter Purchase Obligations $ 37,538 $ 5,775 $ 5,775 $ 5,775 $ 5,775 $ 5,775 $ 8,663 Total payments relating to our nitrogen supply contract were approximately $7,403 in 2017 , $10,194 in 2016 and $7,742 in 2015 . |
Earnings per Limited Partner Un
Earnings per Limited Partner Unit | 12 Months Ended |
Dec. 31, 2017 | |
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) $ 24,479 $ (50,553 ) $ 52,021 Basic and diluted weighted average number of limited partner units outstanding 86,997,590 86,997,590 85,970,912 Basic and diluted net income (loss) per limited partner unit $ 0.28 $ (0.58 ) $ 0.61 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 and 2015 is presented in the tables below. First Quarter Second Quarter Third Quarter Fourth Quarter For the 2017 Fiscal Year Revenues $ 89,312 $ 72,327 $ 73,225 $ 90,019 Revenues—related party 3,579 1,643 5,124 8,096 Income from operations before interest expense, other income and income tax expense 24,306 8,602 9,806 24,918 Income (loss) from operations before tax expense 14,210 (1,333 ) (421 ) 12,898 Net income (loss) 13,744 (1,426 ) (523 ) 12,684 Basic and diluted net income (loss) per limited partner unit 0.16 (0.02 ) (0.01 ) 0.15 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 Second Third Fourth 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, 2017 | |
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, 2015(2) $ — $ — — — Second Quarter, ended June 30, 2015(2) $ — $ — — — 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(2) $ — $ — — — Third Quarter, ended September 30, 2016(2) $ — $ — — — Fourth Quarter, ended December 31, 2016(2) $ — $ — — — First Quarter, ended March 31, 2017 $ 0.23 $ 20,009 May 19, 2017 June 5, 2017 Second Quarter, ended June 30, 2017 $ 0.12 $ 10,440 August 18, 2017 September 8, 2017 Third Quarter, ended September 30, 2017 $ 0.08 $ 6,960 November 17, 2017 December 8, 2017 Fourth Quarter, ended December 31, 2017 $ 0.27 $ 23,489 March 23, 2018 April 6, 2018 (1) Cash distributions for a quarter are declared and paid in the following quarter. (2) No distribution was declared for this three-month period. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On February 20, 2018 , we announced that we had priced a proposed $455,000 term loan B facility (the “New Term Loan”) and proposed $40,000 revolving credit facility (the “New Revolving Credit Facility”). The proposed New Term Loan is expected to mature in 2025 , and is expected to be priced at the London Interbank Offered Rate (“LIBOR”) plus 425 basis points. We intend to use the expected net proceeds of the New Term Loan to repay in full our Term Loan B Credit Facility and to repay in full outstanding intercompany loans from OCI. The commitments in respect of the New Term Loan and New Revolving Credit Facility and the terms and conditions thereof (including the applicable interest rates) remain subject to the execution of definitive documentation with respect to the New Term Loan and New Revolving Credit Facility. The closing of the New Term Loan and New Revolving Credit Facility is expected to occur in March 2018 and is subject to customary closing conditions. On March 5, 2018 , the Partnership announced that the board of directors of our general partner declared a cash distribution to our common unitholders for the period October 1, 2017 through and including December 31, 2017 of $ 0.27 per unit, or approximately $ 23,489 in the aggregate. The cash distribution will be paid on April 6, 2018 to unitholders of record at the close of business on March 23, 2018 . |
Summary of Significant Accoun21
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 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 net realizable value, 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 receipt. |
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 the 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 Costs | Maintenance Costs 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, 2017 , the tax basis of our assets and liabilities were $412,155 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 to 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, 2017 , 2016 and 2015 , 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, 2017 and 2016 . 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, 2017 and 2016 . |
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 May 28, 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), 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 or modified retrospective 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 has elected the modified retrospective approach as the transition method. Other than additional required disclosures, the adoption of ASU 2014-09 is not expected to have a material impact on the Partnership's consolidated financial statements. Effective January 1, 2017 we adopted ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. The FASB issued this ASU on November 20, 2015 as part of its initiative to reduce complexity in accounting standards and improve comparability between GAAP and International Financial Reporting Standards (“IFRS”). Previously, GAAP required an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify 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 has been applied prospectively and did not have any impact on the Partnership’s consolidated financial statements. Effective January 1, 2017 we adopted ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The FASB issued this ASU on July 22, 2015 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 or 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 did not have any impact on the Partnership’s consolidated financial statements. |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Schedule of Revenue by Major Customers | During the years ended December 31, 2017 , 2016 and 2015 , the following customers accounted for 10% or more of the Partnership’s revenues: Percentage of Revenues Customer name 2017 2016 2015 Methanex 40 % 35 % 26 % Southern Chemical Distribution 14 % * * Koch (1) * 24 % 26 % Interoceanic Corporation (IOC) * 14 % 15 % _____________________________________ (1) Figure presented includes sales to Koch Fertilizer LLC and Koch Methanol LLC. * Customer accounted for less than 10% of the Partnership's revenues for the period presented. |
Summary of Revenues by Product | Below is a summary of revenues by product for the years ended December 31, 2017 , 2016 and 2015 : 2017 2016 2015 Ammonia $ 76,546 $ 83,978 $ 99,443 Methanol 266,764 174,236 209,654 Other 15 15 346 Total $ 343,325 $ 258,229 $ 309,443 |
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 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Interest cost capitalized $ — $ — $ 8,586 Interest cost charged to income (1) 22,857 45,096 20,018 Interest cost charged to income—related party 17,339 1,777 203 Total interest cost $ 40,196 $ 46,873 $ 28,807 _____________________________________ (1) Includes $2,273 , $11,552 and $3,710 of amortized debt issuance costs for the years ended December 31, 2017 , 2016 and 2015 (note 6(b)). |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | 2017 2016 Land $ 3,371 $ 3,371 Plant and equipment 765,651 766,263 Buildings 14,933 14,685 Vehicles 55 55 Furniture, Fixtures & Office Equipment 629 629 Construction in progress 617 2,159 785,256 787,162 Less: accumulated depreciation 227,050 166,948 $ 558,206 $ 620,214 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories Balances by Product | Below is a summary of inventories balances by product as of December 31, 2017 and 2016 : 2017 2016 Ammonia $ 2,050 $ 4,192 Methanol 3,991 3,351 Total $ 6,041 $ 7,543 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Components of Debt | December 31, Interest Rate Interest Rate as of December 31, Maturity Date Revolving Credit Facility $ 16,000 4.75% + LIBOR 6.30 % March 31, 2018 Less: Unamortized Debit Issue Costs 23 Revolving Credit Facility, Net $ 15,977 December 31, Interest Rate Interest Rate as of Maturity Date Term Loan B Credit Facility $ 231,825 6.75% + Adjusted LIBOR 8.17 % August 20, 2019 Less: Current Portion 4,480 Less: Unamortized Discount and Debit Issue Costs 3,917 Term Loan Facility, Net $ 223,428 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 Term Loan Facility — Related Party $ 200,000 6.75% + Adjusted LIBOR + 0.25% 8.42 % January 20, 2020 December 31, Interest Rate Interest Rate as of Maturity Date Revolving Credit Facility—Related Party $ 35,000 3.50% + Adjusted 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 |
Scheduled Maturities with Respect to Amended Term Loan Facility | Scheduled maturities with respect to the Term Loan B Credit Facility at December 31, 2017 are as follows: Fiscal Year 2018 $ 4,480 2019 227,345 Total $ 231,825 |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Effect of Related Party Transactions | Set forth below is a table showing the amounts due from the following related parties: Years Ended December 31, 2017 2016 OCI N.V. $ 27 $ 56 NatGasoline, LLC (1) 150 446 Iowa Fertilizer Company LLC (2) — 23 Orascom E&C USA Inc. (3) 7 — Texam, LLC (4) 4 — Total advances due from related party $ 188 $ 525 ____________________________________ (1) OCI indirectly owns a 50% interest in NatGasoline, LLC. (2) Iowa Fertilizer Company LLC is an indirect, wholly-owned subsidiary of OCI. (3) Orascom E&C USA Inc. is an affiliate of OCI. (4) Texam, LLC is an indirect, wholly-owned subsidiary of OCI. The following table represents the effect of related party transactions of the consolidated results of operations for the years ended December 31, 2017 , 2016 and 2015 : Years Ended December 31, 2017 2016 2015 Revenue $ 18,442 $ 10,995 $ 10,753 Cost of goods sold (exclusive of depreciation) (1) 17,384 16,259 16,353 Selling, general and administrative expenses (2) 3,476 4,160 4,326 Interest expense 17,339 1,777 203 (1) Amounts represented in cost of goods sold (exclusive of depreciation) were incurred to the following related parties: Years Ended December 31, 2017 2016 2015 OCI GP LLC $ 15,264 $ 16,259 $ 16,353 OCI USA 2,120 — — Total cost of goods sold (exclusive of depreciation)—related party $ 17,384 $ 16,259 $ 16,353 (2) Amounts represented in selling, general and administrative expense were incurred to the following related parties: Years Ended December 31, 2017 2016 2015 OCI GP LLC $ 2,467 $ 3,044 $ 3,071 OCI Nitrogen B.V. 20 24 50 OCI Personnel B.V. 30 308 621 OCI USA 300 — — Contrack International Inc. 641 700 546 OCI Fertilizers BV 18 40 38 OCI Fertilizer Trade & Supply B.V. — 44 — Total selling, general and administrative expenses—related party $ 3,476 $ 4,160 $ 4,326 |
Partners' Capital (Tables)
Partners' Capital (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 January 1, 2015 86,997,590 Limited partner units outstanding at December 31, 2015 86,997,590 Limited partner units outstanding at December 31, 2016 86,997,590 Limited partner units outstanding at December 31, 2017 86,997,590 |
Commitments, Contingencies an28
Commitments, Contingencies and Legal Proceedings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 are summarized in the following table: Total 2018 2019 2020 2021 2022 Thereafter Purchase Obligations $ 37,538 $ 5,775 $ 5,775 $ 5,775 $ 5,775 $ 5,775 $ 8,663 |
Earnings per Limited Partner 29
Earnings per Limited Partner Unit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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) $ 24,479 $ (50,553 ) $ 52,021 Basic and diluted weighted average number of limited partner units outstanding 86,997,590 86,997,590 85,970,912 Basic and diluted net income (loss) per limited partner unit $ 0.28 $ (0.58 ) $ 0.61 |
Selected Quarterly Financial 30
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Unaudited Condensed Financial Information | Selected unaudited condensed financial information for the fiscal years ended December 31, 2017 , 2016 and 2015 is presented in the tables below. First Quarter Second Quarter Third Quarter Fourth Quarter For the 2017 Fiscal Year Revenues $ 89,312 $ 72,327 $ 73,225 $ 90,019 Revenues—related party 3,579 1,643 5,124 8,096 Income from operations before interest expense, other income and income tax expense 24,306 8,602 9,806 24,918 Income (loss) from operations before tax expense 14,210 (1,333 ) (421 ) 12,898 Net income (loss) 13,744 (1,426 ) (523 ) 12,684 Basic and diluted net income (loss) per limited partner unit 0.16 (0.02 ) (0.01 ) 0.15 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 Second Third Fourth 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, 2017 | |
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, 2015(2) $ — $ — — — Second Quarter, ended June 30, 2015(2) $ — $ — — — 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(2) $ — $ — — — Third Quarter, ended September 30, 2016(2) $ — $ — — — Fourth Quarter, ended December 31, 2016(2) $ — $ — — — First Quarter, ended March 31, 2017 $ 0.23 $ 20,009 May 19, 2017 June 5, 2017 Second Quarter, ended June 30, 2017 $ 0.12 $ 10,440 August 18, 2017 September 8, 2017 Third Quarter, ended September 30, 2017 $ 0.08 $ 6,960 November 17, 2017 December 8, 2017 Fourth Quarter, ended December 31, 2017 $ 0.27 $ 23,489 March 23, 2018 April 6, 2018 (1) Cash distributions for a quarter are declared and paid in the following quarter. (2) No distribution was declared for this three-month period. |
Description of Business - Addit
Description of Business - Additional Information (Detail) | Apr. 14, 2017 | Dec. 31, 2017t |
Subsidiary, Sale of Stock [Line Items] | ||
State of formation | Delaware | |
Date of formation | Feb. 7, 2013 | |
Exchange of stock ratio | 0.5200 | |
OCI Beaumont LLC | ||
Subsidiary, Sale of Stock [Line Items] | ||
Ownership interest | 89.26% | |
Methanol | Maximum | ||
Subsidiary, Sale of Stock [Line Items] | ||
Annual production capacity | 912,500 | |
Ammonia | Maximum | ||
Subsidiary, Sale of Stock [Line Items] | ||
Annual production capacity | 331,000 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Past-due balances | 90 days | ||
Allowance for doubtful accounts receivable | $ 0 | $ 0 | $ 0 |
Bad debt write-offs | 0 | 0 | 0 |
Repair and maintenance costs | 16,001,000 | 17,520,000 | 22,952,000 |
Tax basis of assets and liabilities less than reported amount | 412,155,000 | ||
Environmental remediation obligations | 0 | 0 | 0 |
Texas | |||
Property, Plant and Equipment [Line Items] | |||
Margin Taxes | $ 875,000 | $ 806,000 | $ 613,000 |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Methanex | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 40.00% | 35.00% | 26.00% |
Southern Chemical Distribution, L.L.C. | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 14.00% | ||
Koch | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 24.00% | 26.00% | |
Interoceanic Corporation | |||
Concentration Risk [Line Items] | |||
Percentage of Revenues | 14.00% | 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, 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 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue from External Customer [Line Items] | |||||||||||||||
Total Revenue | $ 90,019 | $ 73,225 | $ 72,327 | $ 89,312 | $ 64,121 | $ 64,641 | $ 54,460 | $ 64,012 | $ 81,587 | $ 100,402 | $ 78,956 | $ 37,745 | $ 343,325 | $ 258,229 | $ 309,443 |
Ammonia | |||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||
Total Revenue | 76,546 | 83,978 | 99,443 | ||||||||||||
Methanol | |||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||
Total Revenue | 266,764 | 174,236 | 209,654 | ||||||||||||
Other | |||||||||||||||
Revenue from External Customer [Line Items] | |||||||||||||||
Total Revenue | $ 15 | $ 15 | $ 346 |
Summary of Significant Accoun36
Summary of Significant Accounting Policies - Schedule of Useful Life of Asset for Depreciation (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounting Policies [Abstract] | |||
Interest cost capitalized | $ 0 | $ 0 | $ 8,586 |
Interest cost charged to income | 22,857 | 45,096 | 20,018 |
Interest cost charged to income—related party | 17,339 | 1,777 | 203 |
Total interest cost | 40,196 | 46,873 | 28,807 |
Amortized debt issuance costs | $ 2,273 | $ 11,552 | $ 3,710 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 785,256 | $ 787,162 |
Less: accumulated depreciation | 227,050 | 166,948 |
Total property, plant and equipment, net | 558,206 | 620,214 |
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 | 765,651 | 766,263 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 14,933 | 14,685 |
Vehicles | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 55 | 55 |
Furniture, Fixtures & Office Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 629 | 629 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 617 | $ 2,159 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
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, 2017 | Dec. 31, 2016 |
Inventory [Line Items] | ||
Total inventory | $ 6,041 | $ 7,543 |
Ammonia | ||
Inventory [Line Items] | ||
Total inventory | 2,050 | 4,192 |
Methanol | ||
Inventory [Line Items] | ||
Total inventory | $ 3,991 | $ 3,351 |
Debt - Components of Debt (Deta
Debt - Components of Debt (Detail) - USD ($) | Nov. 30, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | |||
Revolving Credit Facility, Net | $ 15,977,000 | $ 0 | |
Term Loan B Credit Facility | 231,825,000 | ||
Less: Current Portion | 4,480,000 | 4,480,000 | |
Term Loan Facility, Net | 223,428,000 | $ 225,748,000 | |
Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 200,000,000 | $ 200,000,000 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Current interest rate | 6.30% | ||
Revolving Credit Facility | $ 16,000,000 | ||
Less: Unamortized Debit Issue Costs | 23,000 | ||
Revolving Credit Facility, Net | $ 15,977,000 | ||
Term Loan B Credit Facility | |||
Debt Instrument [Line Items] | |||
Current interest rate | 8.17% | 8.03% | |
Term Loan B Credit Facility | $ 231,825,000 | $ 236,305,000 | |
Less: Current Portion | 4,480,000 | 4,480,000 | |
Less: Unamortized Discount and Debit Issue Costs | 3,917,000 | 6,077,000 | |
Term Loan Facility, Net | $ 223,428,000 | $ 225,748,000 | |
LIBOR | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 4.75% | ||
LIBOR | Term Loan B Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 6.75% | 6.75% | |
OCI Beaumont LLC | Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 200,000,000 | $ 200,000,000 | |
Stated interest rate | 6.75% | 6.75% | |
Additional interest rate over base rate | 0.25% | ||
Current interest rate | 8.42% | 8.28% | |
OCI Beaumont LLC | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Debt outstanding | $ 0 | $ 35,000,000 | |
Stated interest rate | 3.50% | ||
Additional interest rate over base rate | 0.25% | ||
Current interest rate | 4.63% | ||
OCI Beaumont LLC | LIBOR | Term Loan Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% | 0.25% | |
OCI Beaumont LLC | LIBOR | Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Additional interest rate over base rate | 0.25% |
Debt - Additional Information (
Debt - Additional Information (Detail) | Jun. 30, 2017USD ($) | Jan. 04, 2017USD ($) | Nov. 30, 2016USD ($) | Mar. 17, 2016USD ($) | Jul. 02, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2018 | Sep. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016USD ($) | Jun. 30, 2016 | Apr. 04, 2014USD ($) | Aug. 20, 2013USD ($)tranch |
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 1.79 | ||||||||||||||
Write off of deferred debt issuance cost | $ 7,600,000 | ||||||||||||||
Debt instrument, additional term | 1 year | ||||||||||||||
Amortization of debt issuance costs | $ 2,273,000 | $ 11,552,000 | $ 3,710,000 | ||||||||||||
Revolving Credit Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Consent fee percentage | 0.25% | ||||||||||||||
Other Fees and Expenses | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Legal and structuring fees | $ 12,000 | ||||||||||||||
OCI Beaumont LLC | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Borrowing capacity | 200,000,000 | ||||||||||||||
Revolving Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Borrowing capacity | $ 32,500,000 | $ 40,000,000 | |||||||||||||
Rate of commitment fee | 1.40% | ||||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | ||||||||||||
Interest coverage ratio | 5 | ||||||||||||||
Decrease in borrowing capacity | $ 2,500,000 | ||||||||||||||
Debt instrument term | 1 year | ||||||||||||||
Lines of credit current gross | $ 16,000,000 | ||||||||||||||
Interest coverage ratio, actual | 5.63 | ||||||||||||||
Amortization of debt issuance costs | $ 112,000 | $ 103,000 | 295,000 | ||||||||||||
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 | 5 | 4.75 | 4.25 | |||||||||||
Interest coverage ratio | 2.5 | 2.50 | 3 | ||||||||||||
Legal fees | $ 31,000 | ||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Four | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Legal fees | $ 30,000 | ||||||||||||||
Revolving Credit Facility | Revolving Credit Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 5.5 | 2.75 | 5.25 | 5,500 | 6.25 | ||||||||||
Interest coverage ratio | 1.50 | 2.25 | 1.25 | 1.75 | 1.25 | ||||||||||
Debt fee amount | $ 100,000 | ||||||||||||||
Legal fees | $ 36,000 | ||||||||||||||
Revolving Credit Facility | LIBOR | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 4.75% | ||||||||||||||
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 | LIBOR | Revolving Credit Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Basis spread on variable rate, period increase (decrease) | 4.75% | ||||||||||||||
Revolving Credit Facility | Alternate Base Rate | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 3.75% | ||||||||||||||
Revolving Credit Facility | OCI Beaumont LLC | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Borrowing capacity | $ 40,000,000 | ||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||
Rate of commitment fee | 0.50% | ||||||||||||||
Debt outstanding | $ 0 | $ 35,000,000 | |||||||||||||
Revolving Credit Facility | OCI Beaumont LLC | LIBOR | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||
Before Reduction for Amended Revolving Credit Agreement Indebtedness | OCI Beaumont LLC | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Borrowing capacity | 40,000,000 | ||||||||||||||
Term Loan Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt outstanding | $ 200,000,000 | $ 200,000,000 | |||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | 5 | |||||||||||
Interest coverage ratio | 5 | 5 | 2.50 | 5 | 2.5 | ||||||||||
Proceeds from lines of credit | $ 200,000,000 | ||||||||||||||
Term Loan Facility | Scenario, Forecast | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 1.75 | ||||||||||||||
Term Loan Facility | Term Loan Facility Amendment Seven | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 5.5 | 5.25 | 5.5 | 6.25 | |||||||||||
Interest coverage ratio | 1.50 | 2.25 | 1.25 | 1.75 | 1.25 | ||||||||||
Term Loan Facility | Term Loan Facility Amendment Seven | Scenario, Forecast | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 4.75 | ||||||||||||||
Term Loan Facility | OCI Beaumont LLC | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 0.25% | ||||||||||||||
Debt outstanding | $ 200,000,000 | $ 200,000,000 | |||||||||||||
Term Loan Facility | OCI Beaumont LLC | LIBOR | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 0.25% | 0.25% | |||||||||||||
Term B Loans [Member] | LIBOR | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 6.75% | ||||||||||||||
Term B Loans [Member] | Alternate Base Rate | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 5.75% | ||||||||||||||
Senior Secured Term Loan Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Number of tranches of debt | tranch | 3 | ||||||||||||||
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 | 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 Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 5.75% | ||||||||||||||
Term Loan B Facility | OCI Beaumont LLC | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Term Loan B credit facility | $ 50,000,000 | ||||||||||||||
Term Loans B Three | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 1.75 | 1.75 | 1.75 | 1.75 | |||||||||||
Principal payment reductions | $ 1,120,000 | ||||||||||||||
Term Loans B Three | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 5 | 5 | 4.75 | 4.25 | |||||||||||
Term Loan B Credit Facility | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Net leverage ratio | 1.79 | ||||||||||||||
Interest coverage ratio | 5.63 | 5 | |||||||||||||
Amortization of debt issuance costs | $ 2,161,000 | $ 11,419,000 | $ 3,415,000 | ||||||||||||
Term Loan B Credit Facility | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Interest coverage ratio | 2.5 | 2.5 | 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 | LIBOR | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Additional interest rate over base rate | 6.75% | 6.75% | |||||||||||||
Term Loan B Credit Facility | Legal Fees | Term Loan Facility Amendment Six | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Legal and structuring fees | $ 31,000 | ||||||||||||||
Letter of Credit | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Borrowing capacity | $ 20,000,000 |
Debt - Scheduled Maturities wit
Debt - Scheduled Maturities with Respect to Amended Term Loan Facility (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Debt Disclosure [Abstract] | |
2,018 | $ 4,480 |
2,019 | 227,345 |
Total | $ 231,825 |
Related-Party Transactions - Ef
Related-Party Transactions - Effect of Related Party Transactions (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
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 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||||||||||||||
Revenue | $ 8,096 | $ 5,124 | $ 1,643 | $ 3,579 | $ 1,813 | $ 1,435 | $ 1,818 | $ 5,929 | $ 6,860 | $ 3,281 | $ 612 | $ 0 | $ 18,442 | $ 10,995 | $ 10,753 |
Cost of goods sold (exclusive of depreciation) | 17,384 | 16,259 | 16,353 | ||||||||||||
Selling, general, and administrative expenses—related party | 3,476 | 4,160 | 4,326 | ||||||||||||
Interest expense | 17,339 | 1,777 | 203 | ||||||||||||
Affiliated Entity | |||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||
Revenue | 18,442 | 10,995 | 10,753 | ||||||||||||
Cost of goods sold (exclusive of depreciation) | 17,384 | 16,259 | 16,353 | ||||||||||||
Selling, general, and administrative expenses—related party | 3,476 | 4,160 | 4,326 | ||||||||||||
Interest expense | $ 17,339 | $ 1,777 | $ 203 |
Related-Party Transactions - 45
Related-Party Transactions - Effect of Related Party Transaction, Amounts Represented in Costs of Goods Sold (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Cost of goods sold | $ 17,384 | $ 16,259 | $ 16,353 |
Affiliated Entity | |||
Related Party Transaction [Line Items] | |||
Cost of goods sold | 17,384 | 16,259 | 16,353 |
OCI GP LLC | Affiliated Entity | |||
Related Party Transaction [Line Items] | |||
Cost of goods sold | 15,264 | 16,259 | 16,353 |
OCI USA Inc. | Affiliated Entity | |||
Related Party Transaction [Line Items] | |||
Cost of goods sold | $ 2,120 | $ 0 | $ 0 |
Related-Party Transactions - 46
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | $ 3,476 | $ 4,160 | $ 4,326 |
Affiliated Entity | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 3,476 | 4,160 | 4,326 |
Affiliated Entity | OCI GP LLC | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 2,467 | 3,044 | 3,071 |
Affiliated Entity | OCI Nitrogen B.V. | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 20 | 24 | 50 |
Affiliated Entity | OCI Personnel B.V. | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 30 | 308 | 621 |
Affiliated Entity | OCI USA | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 300 | 0 | 0 |
Affiliated Entity | Contrack International Inc. | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 641 | 700 | 546 |
Affiliated Entity | OCI Fertilizers BV | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | 18 | 40 | 38 |
Affiliated Entity | OCI Fertilizer Trade & Supply B.V. | |||
Related Party Transaction [Line Items] | |||
Selling, general, and administrative expenses—related party | $ 0 | $ 44 | $ 0 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) | Dec. 20, 2017t | Jul. 01, 2017t | May 18, 2017usdPerTont | Jun. 30, 2016USD ($) | Nov. 27, 2013USD ($) | Oct. 31, 2013USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Apr. 17, 2015USD ($) |
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Total cost of goods sold (exclusive of depreciation) | $ 198,850,000 | $ 179,069,000 | $ 165,816,000 | |||||||||||||||||||
Total selling, general, and administrative expenses | 15,798,000 | 20,016,000 | 21,232,000 | |||||||||||||||||||
Accounts payable—related party | $ 0 | $ 35,000,000 | 0 | 35,000,000 | ||||||||||||||||||
Selling, general, and administrative expenses—related party | 3,476,000 | 4,160,000 | 4,326,000 | |||||||||||||||||||
Accounts receivable distribution to Partnership | 251,000 | 432,000 | 331,000 | |||||||||||||||||||
Due from related parties | 188,000 | 525,000 | 188,000 | 525,000 | ||||||||||||||||||
Interest expense | 17,339,000 | 1,777,000 | 203,000 | |||||||||||||||||||
Revenues—related party | 8,096,000 | $ 5,124,000 | $ 1,643,000 | $ 3,579,000 | 1,813,000 | $ 1,435,000 | $ 1,818,000 | $ 5,929,000 | $ 6,860,000 | $ 3,281,000 | $ 612,000 | $ 0 | 18,442,000 | 10,995,000 | 10,753,000 | |||||||
Accounts receivable—related party | 6,503,000 | 1,322,000 | 6,503,000 | 1,322,000 | ||||||||||||||||||
Cost of goods sold | 17,384,000 | 16,259,000 | 16,353,000 | |||||||||||||||||||
Intercompany Equity Commitment Agreement | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Due from affiliates | $ 0 | |||||||||||||||||||||
OCI GP LLC | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Total selling, general, and administrative expenses | 2,467,000 | 3,044,000 | 3,071,000 | |||||||||||||||||||
OCI GP LLC | Omnibus Agreement | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Costs incurred under contract | 17,731,000 | 19,303,000 | 19,424,000 | |||||||||||||||||||
Total cost of goods sold (exclusive of depreciation) | 15,264,000 | 16,259,000 | 16,353,000 | |||||||||||||||||||
Accounts payable—related party | 4,433,000 | 3,147,000 | 4,433,000 | 3,147,000 | ||||||||||||||||||
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 | 1,009,000 | 1,116,000 | 1,255,000 | |||||||||||||||||||
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 | 506,000 | 631,000 | 506,000 | 631,000 | ||||||||||||||||||
OCI USA Inc. | Trade Receivables | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Accounts receivable distribution to Partnership | $ 27,560,000 | |||||||||||||||||||||
Capital distributions | 251,000 | 432,000 | ||||||||||||||||||||
OCI USA Inc. | Accounts Payable-Related Party | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Accounts payable—related party | 9,329,000 | 9,579,000 | $ 9,329,000 | 9,579,000 | ||||||||||||||||||
OCI USA Inc. | Intercompany Equity Commitment Agreement | Maximum | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Equity contributions commitment amount | $ 100,000,000 | |||||||||||||||||||||
O C I Fertilizers U S A L L C | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Accounts payable, related party | $ 304,000 | |||||||||||||||||||||
Sales commission fee, percent | 1.50% | |||||||||||||||||||||
Revenues—related party | $ 10,080,000 | 7,731,000 | 6,546,000 | |||||||||||||||||||
Accounts receivable—related party | 1,382,000 | 1,322,000 | 1,382,000 | 1,322,000 | ||||||||||||||||||
O C I Fertilizers U S A L L C | Settlement of Accrued Interest | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Cash paid for interest, net of amount capitalized—related party | $ 304,000 | |||||||||||||||||||||
Affiliated Entity | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Selling, general, and administrative expenses—related party | 3,476,000 | 4,160,000 | 4,326,000 | |||||||||||||||||||
Interest expense | 17,339,000 | 1,777,000 | 203,000 | |||||||||||||||||||
Revenues—related party | 18,442,000 | 10,995,000 | 10,753,000 | |||||||||||||||||||
Cost of goods sold | 17,384,000 | 16,259,000 | 16,353,000 | |||||||||||||||||||
Affiliated Entity | Advances | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Due from related parties | 188,000 | 525,000 | 188,000 | 525,000 | ||||||||||||||||||
OCI Fertilized Trade & Supply B.V. | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Revenues—related party | 8,362,000 | 3,265,000 | 4,208,000 | |||||||||||||||||||
Accounts receivable—related party | 5,121,000 | 0 | 5,121,000 | 0 | ||||||||||||||||||
OCI USA Inc. | Accrued interest payable | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Due to related parties | 1,468,000 | 1,675,000 | 1,468,000 | 1,675,000 | ||||||||||||||||||
OCI USA Inc. | Affiliated Entity | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Selling, general, and administrative expenses—related party | 300,000 | 0 | 0 | |||||||||||||||||||
Cost of goods sold | 2,120,000 | 0 | 0 | |||||||||||||||||||
OCI Fertilized Trade & Supply B.V. | Affiliated Entity | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Sale commitment, mass of product | t | 16,300 | 22,500 | ||||||||||||||||||||
Methanol | OCIB | Affiliated Entity | ||||||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||||||
Accounts payable, related party | $ 0 | $ 0 | 0 | 0 | ||||||||||||||||||
Sale commitment, mass of product | t | 7,000 | |||||||||||||||||||||
Sale commitment, spot price per unit | usdPerTon | 303 | |||||||||||||||||||||
Cost of goods sold | $ 2,120,000 | $ 0 | $ 0 |
Related-Party Transactions - 48
Related-Party Transactions - Advances Due From Related Party (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Related Party Transaction [Line Items] | ||
Due from Related Parties | $ 188 | $ 525 |
Affiliated Entity | OCI N.V. | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | 27 | 56 |
Affiliated Entity | NatGasoline LLC | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | 150 | 446 |
Affiliated Entity | Iowa Fertilizer Company | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | 0 | 23 |
Affiliated Entity | Orascom E&C USA | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | 7 | 0 |
Affiliated Entity | Texam LLC | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | 4 | 0 |
Advances | Affiliated Entity | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties | $ 188 | $ 525 |
Partners' Capital - Reconciliat
Partners' Capital - Reconciliation of Limited Partner Units Outstanding (Detail) - shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Reconciliation of Limited Partner Units Outstanding | ||||
Common units, outstanding (in shares) | 86,997,590 | 86,997,590 | 86,997,590 | 86,997,590 |
Partners' Capital - Additional
Partners' Capital - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Apr. 17, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Subsidiary, Sale of Stock [Line Items] | ||||
Total amount of capital contribution from subsidiary | $ 0 | $ 0 | $ 60,000 | |
Intercompany Equity Commitment Agreement | ||||
Subsidiary, Sale of Stock [Line Items] | ||||
Common units issued by Partnership (in units) | 3,502,218 | |||
Capital contribution from the affiliates | $ 40,000 | |||
Cash contribution from affiliates | $ 20,000 | |||
Price per common unit (in dollars per unit) | $ 17.132 | |||
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 |
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, 2017bonus | 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 an52
Commitments, Contingencies and Legal Proceedings - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Environmental remediation expense | $ 0 | $ 0 | |
Nitrogen | |||
Unrecorded Unconditional Purchase Obligation [Line Items] | |||
Nitrogen purchased | $ 7,403,000 | $ 10,194,000 | $ 7,742,000 |
Commitments, Contingencies an53
Commitments, Contingencies and Legal Proceedings Purchase Obligations (Details) - Nitrogen $ in Thousands | Dec. 31, 2017USD ($) |
Unrecorded Unconditional Purchase Obligation [Line Items] | |
Total purchase obligation | $ 37,538 |
2,018 | 5,775 |
2,019 | 5,775 |
2,020 | 5,775 |
2,021 | 5,775 |
2,022 | 5,775 |
Thereafter | $ 8,663 |
Earnings per Limited Partner 54
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, 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 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |||||||||||||||
Net income (loss) | $ 24,479 | $ (50,553) | $ 52,021 | ||||||||||||
Basic and diluted weighted average number of limited partner units outstanding (in units) | 86,997,590 | 86,997,590 | 85,970,912 | ||||||||||||
Basic and diluted net income (loss) per limited partner unit (in dollars per share) | $ 0.15 | $ (0.01) | $ (0.02) | $ 0.16 | $ (0.20) | $ (0.13) | $ (0.18) | $ (0.07) | $ 0.17 | $ 0.27 | $ 0.16 | $ 0.01 | $ 0.28 | $ (0.58) | $ 0.61 |
Selected Quarterly Financial 55
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, 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 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||
Revenues | $ 90,019 | $ 73,225 | $ 72,327 | $ 89,312 | $ 64,121 | $ 64,641 | $ 54,460 | $ 64,012 | $ 81,587 | $ 100,402 | $ 78,956 | $ 37,745 | $ 343,325 | $ 258,229 | $ 309,443 |
Revenues—related party | 8,096 | 5,124 | 1,643 | 3,579 | 1,813 | 1,435 | 1,818 | 5,929 | 6,860 | 3,281 | 612 | 0 | 18,442 | 10,995 | 10,753 |
Income from operations before interest expense, other income and income tax expense | 24,918 | 9,806 | 8,602 | 24,306 | 743 | (874) | (5,435) | 3,269 | 22,968 | 30,834 | 17,494 | 1,436 | 67,632 | (2,297) | 72,732 |
Income (loss) from operations before tax expense | 12,898 | (421) | (1,333) | 14,210 | (17,138) | (11,141) | (15,494) | (5,974) | 14,474 | 23,496 | 13,706 | 958 | 25,354 | (49,747) | 52,634 |
Net income (loss) | $ 12,684 | $ (523) | $ (1,426) | $ 13,744 | $ (17,355) | $ (11,697) | $ (15,447) | $ (6,054) | $ 14,507 | $ 23,143 | $ 13,478 | $ 893 | $ 24,479 | $ (50,553) | $ 52,021 |
Basic and diluted net income (loss) per limited partner unit (in dollars per share) | $ 0.15 | $ (0.01) | $ (0.02) | $ 0.16 | $ (0.20) | $ (0.13) | $ (0.18) | $ (0.07) | $ 0.17 | $ 0.27 | $ 0.16 | $ 0.01 | $ 0.28 | $ (0.58) | $ 0.61 |
Distributions - Schedule of Cas
Distributions - Schedule of Cash Distributions to Unitholders (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||||||||||
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 | |
Equity [Abstract] | ||||||||||||
Distribution Per Common Unit, (dollars per share) | $ 0.27 | $ 0.08 | $ 0.12 | $ 0.23 | $ 0 | $ 0 | $ 0 | $ 0.06 | $ 0.32 | $ 0.41 | $ 0 | $ 0 |
Total Cash Distribution | $ 23,489 | $ 6,960 | $ 10,440 | $ 20,009 | $ 0 | $ 0 | $ 0 | $ 5,220 | $ 27,839 | $ 35,669 | $ 0 | $ 0 |
Date of Record | Mar. 23, 2018 | Nov. 17, 2017 | Aug. 18, 2017 | May 19, 2017 | Jun. 24, 2016 | Mar. 30, 2016 | Nov. 30, 2015 | |||||
Date of Distribution | Apr. 6, 2018 | Dec. 8, 2017 | Sep. 8, 2017 | Jun. 5, 2017 | Jul. 8, 2016 | Apr. 8, 2016 | Dec. 17, 2015 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) | Mar. 05, 2018 | Feb. 20, 2018 | Dec. 31, 2017 | Apr. 04, 2014 |
Revolving Credit Facility | ||||
Subsequent Event [Line Items] | ||||
Borrowing capacity | $ 32,500,000 | $ 40,000,000 | ||
LIBOR | Revolving Credit Facility | ||||
Subsequent Event [Line Items] | ||||
Additional interest rate over base rate | 4.75% | |||
Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Dividends declared (in dollars per share) | $ 0.27 | |||
Dividends declared | $ 23,489,000 | |||
Subsequent Event | Term Loan B Facility | ||||
Subsequent Event [Line Items] | ||||
Debt instrument, face amount | $ 455,000,000 | |||
Subsequent Event | Term Loan B Facility | LIBOR | ||||
Subsequent Event [Line Items] | ||||
Additional interest rate over base rate | 4.25% | |||
Subsequent Event | New Revolving Credit Facility | Revolving Credit Facility | ||||
Subsequent Event [Line Items] | ||||
Borrowing capacity | $ 40,000,000 |