BP Midstream Partners (BPMP) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-38260
Entity Registrant Name	BP Midstream Partners LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-1646447
Entity Address, Address Line One	501 Westlake Park Boulevard
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77079
City Area Code	281
Local Phone Number	366-2000
Title of 12(b) Security	Common Units, Representing Limited Partner Interests
Trading Symbol	BPMP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001708301
Common Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		52,402,967
Subordinated Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		52,375,535

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 105,500	$ 98,800
Accounts receivable – third parties	400	600
Accounts receivable – related parties	10,400	11,300
Prepaid expenses	2,900	5,100
Other current assets	4,900	5,000
Total current assets	124,100	120,800
Equity method investments (Note 3)	531,500	534,400
Property, plant and equipment, net (Note 4)	62,800	62,700
Other assets	4,400	4,200
Total assets	722,800	722,100
Current liabilities
Accounts payable – third parties	700	600
Accounts payable – related parties	1,900	1,700
Deferred revenue and credits	2,100	1,500
Other current liabilities (Note 5)	3,100	6,600
Total current liabilities	7,800	10,400
Long-term debt (Note 6)	468,000	468,000
Other liabilities	3,500	3,500
Total liabilities	479,300	481,900
Commitments and contingencies (Note 10)
EQUITY
General partner	1,200	1,200
Total partner's capital	107,500	103,300
Non-controlling interests	136,000	136,900
Total equity	243,500	240,200
Total liabilities and equity	722,800	722,100
Common Units | Public
EQUITY
Common stock	853,600	851,600
Common Units | BP Holdco
EQUITY
Common stock	(60,100)	(60,300)
Subordinated Units | BP Holdco
EQUITY
Common stock	$ (687,200)	$ (689,200)

CONSOLIDATED BALANCE SHEEETS (P

CONSOLIDATED BALANCE SHEEETS (Parenthetical) - shares	Mar. 31, 2020	Dec. 31, 2019
Public | Common Units
Units outstanding (in shares)	47,821,790	47,806,563
Units issued (in shares)	47,821,790	47,806,563
BP Holdco | Common Units
Units outstanding (in shares)	4,581,177	4,581,177
Units issued (in shares)	4,581,177	4,581,177
BP Holdco | Subordinated Units
Units outstanding (in shares)	52,375,535	52,375,535
Units issued (in shares)	52,375,535	52,375,535

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue
Third parties	$ 1,000	$ 800
Related parties	29,700	29,400
Total revenue	30,700	30,200
Costs and expenses
Operating expenses – third parties	3,700	3,300
Operating expenses – related parties	1,500	1,500
Maintenance expenses – related parties	100	0
General and administrative – third parties	900	1,000
General and administrative – related parties	3,900	3,400
Depreciation	700	600
Property and other taxes	100	100
Total costs and expenses	11,100	10,200
Operating income	19,600	20,000
Income from equity method investments	31,300	24,400
Interest expense, net	3,400	3,700
Net income	47,500	40,700
Less: Net income attributable to non-controlling interests	5,800	3,500
Net income attributable to the Partnership	41,700	37,200
Limited Partners Common Units
Costs and expenses
Net income attributable to the Partnership	$ 20,300	$ 18,500
Net income attributable to the Partnership per limited partner unit – basic and diluted (in dollars):
Net income attributable to the Partnership per limited partner unit – basic and diluted (in dollars per share)	$ 0.39	$ 0.35
Limited Partners Subordinated Units
Costs and expenses
Net income attributable to the Partnership	$ 20,200	$ 18,500
Net income attributable to the Partnership per limited partner unit – basic and diluted (in dollars):
Net income attributable to the Partnership per limited partner unit – basic and diluted (in dollars per share)	$ 0.39	$ 0.35
Common Units Public
Weighted average number of limited partner units outstanding - basic and diluted (in millions):
Weighted average number of limited partner units outstanding - basic and diluted (in shares)	47.8	47.8
BP Holdco | Common Units BP Holdco
Weighted average number of limited partner units outstanding - basic and diluted (in millions):
Weighted average number of limited partner units outstanding - basic and diluted (in shares)	4.6	4.6
BP Holdco | Subordinated Units
Weighted average number of limited partner units outstanding - basic and diluted (in millions):
Weighted average number of limited partner units outstanding - basic and diluted (in shares)	52.4	52.4
Maintenance
Costs and expenses
Maintenance expenses – third parties	$ 200	$ 300

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Millions	Total	Non-controlling Interests	Common UnitsPartners' CapitalGeneral Public	Common UnitsPartners' CapitalBP Holdco	Subordinated UnitsPartners' CapitalBP Holdco	General Partner
Beginning Balance at Dec. 31, 2018	$ 210.9	$ 141	$ 836.8	$ (61.7)	$ (705.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	40.7	3.5	16.9	1.6	18.5	$ 0.2
Distributions to unitholders	(31.6)		(14.4)	(1.4)	(15.8)
Distributions to non-controlling interests	(4.6)	(4.6)
Ending Balance at Mar. 31, 2019	215.4	139.9	839.3	(61.5)	(702.5)	0.2
Beginning Balance at Dec. 31, 2019	240.2	136.9	851.6	(60.3)	(689.2)	1.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47.5	5.8	18.5	1.8	20.2	1.2
Distributions to unitholders	(37.6)		(16.6)	(1.6)	(18.2)	(1.2)
Unit-based compensation	0.1		0.1
Distributions to non-controlling interests	(6.7)	(6.7)
Ending Balance at Mar. 31, 2020	$ 243.5	$ 136	$ 853.6	$ (60.1)	$ (687.2)	$ 1.2

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash distributions per unit paid (in dollars per unit)	$ 0.3237	$ 0.3126	$ 0.3015	$ 0.2725	$ 0.2675	$ 0.1798

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income	$ 47.5	$ 40.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	0.7	0.6
Non-cash expenses	0.1	0.1
Income from equity method investments	(31.3)	(24.4)
Distributions of earnings received from equity method investments	31.4	25.3
Changes in operating assets and liabilities
Accounts receivable	1.1	(1.6)
Prepaid expenses and other current assets	2.3	1.8
Accounts payable	0.3	(1.1)
Deferred revenue and credits	0.6	(0.4)
Other	(3.8)	(4)
Net cash provided by operating activities	48.9	37
Cash flows from investing activities
Capital expenditures	(0.7)	(0.2)
Distributions in excess of earnings from equity method investments	2.8	3.2
Net cash provided by investing activities	2.1	3
Cash flows from financing activities
Proceeds from issuance of term loan	(468)	0
Distributions to unitholders and general partner	(37.6)	(31.6)
Distributions to non-controlling interests	(6.7)	(4.6)
Net cash used in financing activities	(44.3)	(36.2)
Net change in cash and cash equivalents	6.7	3.8
Cash and cash equivalents at beginning of the period	98.8	57
Cash and cash equivalents at end of the period	105.5	60.8
Supplemental cash flow information
Cash paid for interest	7.5	8
Non-cash investing transactions
Accrued capital expenditures	0.2	0.2
Proceeds from Issuance of Long-term Debt	$ 468	$ 0

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation BP Midstream Partners LP (either individually or together with its subsidiaries, as the context requires, the “Partnership”) is a Delaware limited partnership formed on May 22, 2017 by BP Pipelines (North America) Inc. (“BP Pipelines”), an indirect wholly owned subsidiary of BP p.l.c. (“BP”), a “foreign private issuer” within the meaning of the Securities Exchange Act of 1934, as amended. Unless otherwise stated or the context otherwise indicates, all references to “we,” “our,” “us,” or similar expressions refer to the legal entity BP Midstream Partners LP. The term “our Parent” refers to BP Pipelines; any entity that wholly owns BP Pipelines, indirectly or directly, including BP and BP America Inc. (“BPA”), an indirect wholly owned subsidiary of BP; and any entity that is wholly owned by the aforementioned entities, excluding BP Midstream Partners LP. Business BP Midstream Partners LP is a master limited partnership formed by BP Pipelines to own, operate, develop and acquire pipelines and other midstream assets. The Partnership's assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines and refined product terminals serving as key infrastructure for BP and other customers to transport onshore crude oil production to BP’s refinery in Whiting, Indiana (the “Whiting Refinery”) and offshore crude oil and natural gas production to key refining markets and trading and distribution hubs. Certain assets deliver refined products and diluent from the Whiting Refinery and other U.S. supply hubs to major demand centers. As of March 31, 2020, the Partnership's assets consisted of the following: • BP Two Pipeline Company LLC, which owns the BP#2 crude oil pipeline system (“BP2”). • BP River Rouge Pipeline Company LLC, which owns the Whiting to River Rouge refined products pipeline system (“River Rouge”). • BP D-B Pipeline Company LLC, which owns the Diamondback diluent pipeline system (“Diamondback”). BP2, River Rouge, and Diamondback, together, are referred to as the "Wholly Owned Assets". • 28.5% ownership interest in Mars Oil Pipeline Company, LLC (“Mars”), which owns a major corridor crude oil pipeline system in the Gulf of Mexico. • 65% ownership interest and 100% managing member interest in Mardi Gras Transportation System Company, LLC ("Mardi Gras"), which holds the following investments in joint ventures located in the Gulf of Mexico: • 56% ownership interest in Caesar Oil Pipeline Company, LLC (“Caesar”), • 53% ownership interest in Cleopatra Gas Gathering Company, LLC (“Cleopatra”), • 65% ownership interest in Proteus Oil Pipeline Company, LLC (“Proteus”), and, • 65% ownership interest in Endymion Oil Pipeline Company, LLC (“Endymion”). • Together Endymion, Caesar, Cleopatra and Proteus are referred to as the “Mardi Gras Joint Ventures.” • 22.7% ownership interest in Ursa Oil Pipeline Company, LLC ("Ursa"). • 25% ownership interest in KM Phoenix Holdings, LLC ("KM Phoenix"). We generate a majority of revenue by charging fees for the transportation of crude oil, refined products and diluent through our pipelines under agreements with minimum volume commitments ("MVC"). We do not engage in the marketing and trading of any commodities. All operations are conducted in the United States, and all long-lived assets are located in the United States. Partnership operations consist of one reportable segment. Certain Partnership businesses are subject to regulation by various authorities including, but not limited to the Federal Energy Regulatory Commission ("FERC"). Regulatory bodies exercise statutory authority over matters such as common carrier tariffs, construction, rates and ratemaking and agreements with customers. Basis of Presentation Condensed consolidated financial statements have been prepared under the rules and regulations of the Securities and Exchange Commission (“SEC”). These rules and regulations conform to the accounting principles contained in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification, the single source of accounting principles generally accepted in the United States (“GAAP”). Certain information and footnote disclosures normally included in the annual consolidated financial statements have been condensed or omitted from these condensed consolidated financial statements. The condensed consolidated financial statements as of March 31, 2020, and for the three months ended March 31, 2020 and 2019, included herein, are unaudited. These financial statements include all known accruals and adjustments necessary, in the opinion of management, for a fair presentation of our condensed consolidated financial position, results of operations and cash flows. Unless otherwise specified, all such adjustments are of a normal and recurring nature. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These unaudited condensed consolidated financial statements and other information included in this quarterly report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the "Partnership's 2019 10-K"). Partnership financial position, results of operations and cash flows consist of consolidated BP Midstream Partners LP activities and balances. All intercompany accounts and transactions within the financial statements have been eliminated for all periods presented. Summary of Significant Accounting Policies There have been no significant changes to accounting policies as disclosed in Note 2 - Summary of Significant Accounting Policies in the Partnership's 2019 10-K.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2. Revenue Recognition We recognize revenue over time or at a point in time, depending on the nature of the performance obligations contained in the respective contract with customers. A performance obligation is our unit of account and it represents a promise in a contract to transfer goods or services to the customer. The contract transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is allocated to each performance obligation and recognized as revenue when or as the performance obligation is satisfied. The following is an overview of our significant revenue stream, including a description of the respective performance obligations and related methods of revenue recognition. Pipeline Transportation Revenue from pipeline transportation is comprised of tariffs and fees associated with the transportation of liquid petroleum products, generally at published tariffs and in certain instances, revenue from MVC contracts at negotiated rates. Tariff revenue is recognized either at the point of delivery or at the point of receipt, pursuant to specifications outlined in the respective tariffs. We record revenue for crude oil, refined products and diluent transportation during the period in which they are earned (i.e., either physical delivery of product has taken place or the services designated in the contract have been performed.) Partnership services are typically billed on a monthly basis, and we generally do not offer extended payment terms. We accrue revenue based on services rendered but not billed for that accounting month. Billings to BP Products for deficiency volumes under its MVCs, if any, are recorded as deferred revenue and credits, a contract liability, on the condensed consolidated balance sheets, as BP Products has the right to make up the deficiency volumes within the measurement period specified by the agreements. Deferred revenue under these arrangements is recognized into revenue once it is deemed remote that the customer will meet its required annual MVC. If the customer does satisfy its minimum volume commitment by shipping the deficiency volumes within the same calendar year, it may receive a refund of excess payments. We did not recognize deficiency revenue under the throughput and deficiency agreements with BP Products for the three months ended March 31, 2020 and 2019. Allowance Oil The tariff for crude oil transportation at BP2 includes a fixed loss allowance (“FLA”). An FLA factor per barrel, a fixed percentage, is a separate fee that is considered a part of the transaction price under the applicable crude oil tariff to cover evaporation and other losses in transit. The amount of revenue recognized is a product of the quantity transported, the applicable FLA factor and the settlement price during the month the product is transported. We recognized revenue of $1.5 million and $2.5 million in the three months ended March 31, 2020 and 2019, respectively, related to the FLA arrangements with our Parent with the decrease primarily due to lower volume on BP2 and a lower realized price per barrel in the first quarter of 2020. Disaggregation of Revenue The following table provides information about disaggregated revenue: Three Months Ended March 31, 2020 2019 Transportation services revenue - third parties $ 1.0 $ 0.8 Transportation services revenue - related parties 29.7 29.4 Total revenue $ 30.7 $ 30.2 Future Performance Obligations The fixed portion of existing customer contracts are summarized in the future performance obligations as of March 31, 2020. The unfulfilled performance obligations included in the table below are expected to be recognized in revenue in the specified periods: As of March 31, 2020 Remainder of 2020 $ 88.5 2021 1.7 Total $ 90.2 Contract Balances Contract assets and contract liabilities are the result of timing differences between revenue recognition, billings and cash collections. Contract liabilities or deferred revenue and credits primarily relate to consideration received from customers for temporary deficiency quantities under minimum volume contracts that the customer has the right to make up in a future period, which we subsequently recognize as revenue or amounts we credit back to the customer in a future period. The following table provides information about receivables from contracts with customers, contract assets and contract liabilities: March 31, 2020 December 31, 2019 Receivables from contracts with customers - third parties $ 0.4 $ 0.6 Receivables from contracts with customers - related parties 10.4 11.3 Deferred revenue and credits - related parties 2.1 1.5

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments We account for ownership interests in Mars, the Mardi Gras Joint Ventures, Ursa, and KM Phoenix using the equity method for financial reporting purposes. Financial results include the Partnership's proportionate share of Mars, the Mardi Gras Joint Ventures, Ursa and KM Phoenix, which is reflected in Income from equity method investments on the condensed consolidated statements of operations. We did not record any impairment loss on equity method investments during the three months ended March 31, 2020 and 2019. The table below summarizes the balances and activities related for each equity method investment ("EMI") recorded as of and for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Percentage Ownership Distributions Received Income from EMI Carrying Value Percentage Ownership Distributions Received Income from EMI Carrying Value Mars 28.5% $ (13.0) $ 12.5 $ 56.4 28.5% $ (12.2) $ 11.9 $ 58.8 Caesar 56.0% (4.9) 4.5 117.0 56.0% (5.3) 5.3 119.4 Cleopatra 53.0% (2.9) 2.0 116.7 53.0% (3.4) 2.7 118.9 Proteus 65.0% (5.5) 4.1 73.9 65.0% (2.3) 0.6 79.6 Endymion 65.0% (5.9) 6.0 81.1 65.0% (2.0) 1.2 81.7 Others (1) Various (2.0) 2.2 86.4 Various (3.3) 2.7 86.5 Total Equity Investments $ (34.2) $ 31.3 $ 531.5 $ (28.5) $ 24.4 $ 544.9 (1) Includes ownership in Ursa (22.7%) and KM Phoenix (25%). The following table presents aggregated selected income statement data for equity method investments on a 100% basis for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Statement of operations Revenue $ 144.6 $ 116.0 Operating expenses 64.3 45.8 Net income 80.5 70.3

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consisted of the following: March 31, 2020 December 31, 2019 Land $ 0.2 $ 0.2 Right-of-way assets 1.4 1.4 Buildings and improvements 6.9 6.9 Pipelines and equipment 94.6 94.4 Other 0.5 0.5 Construction in progress 1.2 0.6 Property, plant and equipment 104.8 104.0 Less: Accumulated depreciation (42.0) (41.3) Property, plant and equipment, net $ 62.8 $ 62.7 There were no impairments on property, plant and equipment for the three months ended March 31, 2020 and 2019.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consisted of the following: March 31, 2020 December 31, 2019 Current portion of environmental remediation obligation $ 0.6 $ 0.6 Current portion of lease liabilities 0.1 0.1 Accrued interest payable - related parties 0.4 4.2 Accrued liabilities 2.0 1.7 Other current liabilities $ 3.1 $ 6.6

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt On February 24, 2020, we entered i nto a $468 million Term Loan Facility Agreement ("term loan") with an affiliate of BP. On March 13, 2020, proceeds were used to repay outstanding borrowings under the exist ing credit facility. Please refer to Note 9 - Debt in the Partnership's 2019 10-K for further details. The term loan has a final repayment date of Februa ry 24, 2025, and provides for certain covenants, including the requirement to maintain a consolidated leverage ratio, which is calculated as total indebtedness to consolidated EBITDA, not to exceed 5.0 to 1.0, subject to a temporary increase in such ratio to 5.5 to 1.0 in connection with certain material acquisitions. Simultaneous with this transaction, we entered into the First Amendment to Short Term Credit Facility Agreement (the "First Amendment") whereby the lender added a provision that indebtedness under both the term loan and the credit facility shall not exceed $600 million. All other terms of the credit facility remain the same. As of March 31, 2020, the Partnership was in compliance with the covenants contained in the term loan facility and the credit facility. There were $468 million of outstanding borrowi ngs under the term loan at March 31, 2020, and $468 million under the credit facility at December 31, 2019. Interest charges and fees were $3.6 million for the three months ended March 31, 2020 and $4.1 million for the three months ended March 31, 2019. Indebtedness under the term loan bears interest at the 3-month LIBOR plus 0.73%. For the three months ended March 31, 2020, the weighted average interest rate for the term loan and the credit facility was 2.88%. For the year ended December 31, 2019, the weighted average interest rate for the credit facility was 3.25%. The credit facility includes customary fees, including a commitment fee of 0.10% and a utilization fee of 0.20% per annum.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions Related party transactions include transactions with our Parent and its affiliates, including those entities in which our Parent has an ownership interest but does not have control. In addition to the MVC and FLA arrangements discussed in Note 2 - Revenue Recognition and the credit facility and term loan in Note 6 - Debt , we have entered into the following transactions with related parties: Omnibus Agreement The Partnership has entered into an omnibus agreement with BP Pipelines and certain of its affiliates, including BP Midstream Partners GP LLC (our "General Partner"). This agreement addresses, among other things, (i) the Partnership's obligation to pay an annual fee for general and administrative services provided by BP Pipelines and its affiliates, (ii) the Partnership's obligation to reimburse BP Pipelines for personnel and other costs related to the direct operation, management and maintenance of the assets and (iii) the Partnership's obligation to reimburse BP Pipelines for services and certain direct or allocated costs and expenses incurred by BP Pipelines or its affiliates on behalf of the Partnership. BP Pipelines will indemnify us for all known and certain unknown environmental liabilities that are associated with the ownership or operation of Partnership assets and due to occurrences on or before October 30, 2017, subject to certain limitations. Indemnification for any unknown environmental liabilities will be limited to liabilities due to occurrences on or before October 30, 2017, which are identified prior to October 30, 2020. Further, the omnibus agreement addresses the granting of a license from BPA to the Partnership with respect to use of certain BP trademarks and trade name. Related Party Revenue We provide crude oil, refined products and diluent transportation services to related parties and generate revenue through published tariffs. We have commercial arrangements with BP Products that include MVCs. See Note 10 - Related Party Transactions in the Partnership's 2019 10-K for further discussion regarding these agreements. Revenue from related parties was $29.7 million and $29.4 million for the three months ended March 31, 2020 and 2019, respectively. We recognized $0 of deficiency revenue under the throughput and deficiency agreements with BP Products for the three months ended March 31, 2020 and 2019, respectively. The Partnership recorded $2.1 million and $1.5 million in Deferred revenue and credits on the condensed consolidated balance sheets at March 31, 2020 and December 31, 2019, respectively. Related Party Expenses All employees performing services on behalf of Partnership operations are employees of our Parent. Our Parent also procures insurance policies on our behalf and performs certain general corporate functions for us related to finance, accounting, treasury, legal, information technology, human resources, shared services, government affairs, insurance, health, safety, security, employee benefits, incentives, severance and environmental functional support. Personnel and operating costs incurred by our Parent on our behalf are included in either Operating expenses – related parties or General and administrative – related parties in the condensed consolidated statements of operations, depending on the nature of the service provided. We paid our Parent an annual fee of $13.6 million in 2019 in the form of monthly installments under the omnibus agreement for general and administrative services provided by our Parent and its affiliates. The annual fee was adjusted to $15.2 million per year, payable in equal monthly installments, beginning on January 1, 2020. We also reimburse our Parent for personnel and other costs related to the direct operation, management and maintenance of the assets and services and certain direct or allocated costs and expenses incurred by our Parent or its affiliates on our behalf pursuant to the terms in the omnibus agreement. For the three months ended March 31, 2020 and 2019, we recorded the following amounts for related party expenses, which also included the expenses related to share-based compensation discussed below: Three Months Ended 2020 2019 Operating expenses—related parties $ 1.5 $ 1.5 Maintenance expenses—related parties 0.1 — General and administrative—related parties 3.9 3.4 Total costs and expenses—related parties $ 5.5 $ 4.9 Share-based Compensation Our Parent operates share option plans and equity-settled employee share plans. These plans typically have a three-year Share-based compensation related to the employees of our Parent who provide services to us is charged to the Partnership pursuant to the terms of the omnibus agreement. The Partnership also issued its own unit-based compensation under a long-term incentive plan. See Note 11 - Unit-Based Compensation. Non-controlling Interests Non-controlling interests consist of the 35% ownership interest in Mardi Gras held by our Parent at March 31, 2020 and 2019. Net income attributable to non-controlling interests is the product of the non-controlling interests ownership percentage

Net Income Per Limited Partner

Net Income Per Limited Partner Unit	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Income Per Limited Partner Unit	Net Income Per Limited Partner Unit The following table details the distributions declared and/or paid for the periods presented: Three Months Ended Date Paid or General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions per Limited Partner Unit (in dollars) December 31, 2018 February 14, 2019 $ — $ 15.8 $ 15.8 $ 31.6 $ 0.3015 March 31, 2019 May 15, 2019 0.2 16.4 16.4 33.0 0.3126 December 31, 2019 February 13, 2020 1.2 18.2 18.2 37.6 0.3475 March 31, 2020 May 14, 2020 1.2 18.2 18.2 37.6 0.3475 Earnings in excess of distributions are allocated to the limited partners based on their respective percentage interests. Payments made to the Partnership’s unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of net income per unit. In addition to the common and subordinated units, the Partnership also identified the incentive distribution rights ("IDRs") currently held by the General Partner as a participating security and uses the two-class method when calculating the net income per unit applicable to limited partners that is based on the weighted-average number of common units outstanding during the period. When calculating basic earnings per unit under the two-class method for a master limited partnership, net income for the current reporting period is reduced by the amount of available cash that will be distributed to the General Partner and limited partners for that reporting period. The following tables show the allocation of net income to arrive at net income per limited partner unit for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Net income attributable to the Partnership $ 41.7 $ 37.2 Less: Incentive distribution rights currently held by the General Partner 1.2 0.2 Limited partners' distribution declared on common units 18.2 16.4 Limited partners' distribution declared on subordinated units 18.2 16.4 Net income attributable to the Partnership in excess of distributions $ 4.1 $ 4.2 Three Months Ended March 31, 2020 General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions declared $ 1.2 $ 18.2 $ 18.2 $ 37.6 Net income attributable to the Partnership in excess of distributions — 2.1 2.0 4.1 Net income attributable to the Partnership $ 1.2 $ 20.3 $ 20.2 $ 41.7 Weighted average units outstanding: Basic and Diluted 52.4 52.4 104.8 Net income per limited partner unit (in dollars): Basic and Diluted $ 0.39 $ 0.39 Three Months Ended March 31, 2019 General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions declared $ 0.2 $ 16.4 $ 16.4 $ 33.0 Net income attributable to the Partnership in excess of distributions — 2.1 2.1 4.2 Net income attributable to the Partnership $ 0.2 $ 18.5 $ 18.5 $ 37.2 Weighted average units outstanding: Basic and Diluted 52.4 52.4 104.8 Net income per limited partner unit (in dollars): Basic and Diluted $ 0.35 $ 0.35

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to their short-term nature. The carrying value of borrowings under the term loan as of March 31, 2020, and the credit facility as of December 31, 2019, approximate fair value as the interest rates are reflective of market rates.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Partnership is a party to ongoing legal proceedings in the ordinary course of business. For each outstanding legal matter, if any, we will evaluate the merits of the case, exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. While the outcome of these proceedings cannot be predicted with certainty, we do not believe the results of these proceedings, individually or in the aggregate, will have a material adverse effect on the Partnership's business, financial condition, results of operations or liquidity. Indemnification Under an omnibus agreement, our Parent will indemnify us for certain environmental liabilities, litigation and other matters attributable to the ownership or operation of assets prior to Partnership ownership. For the purposes of determining the indemnified amount of any loss suffered or incurred by the Partnership, the Partnership’s ownership of 28.5% in Mars, and 65% in Mardi Gras, and Mardi Gras’ 56% ownership in Caesar, 53% ownership in Cleopatra, 65% ownership in Endymion and 65% ownership in Proteus will be considered. Indemnification for certain identified environmental liabilities is subject to a cap of $25 million without any deductible. Other matters covered by the omnibus agreement are subject to a cap of $15 million and an aggregate deductible of $0.5 million before we are entitled to indemnification. Indemnification for any unknown environmental liabilities is limited to liabilities due to occurrences prior to the closing of the Initial Public Offering ("IPO") and that are identified before the third anniversary of the closing of the IPO. The Interest Purchase Agreement contains customary representations, warranties and covenants of our Parent and the Partnership. Our Parent, on the one hand, and the Partnership, on the other hand, have agreed to indemnify each other and their respective affiliates, officers, directors and other representatives against certain losses, including those resulting from any breach of their representations, warranties or covenants contained in the Interest Purchase Agreement, subject to certain limitations and survival periods. This agreement covers the Partnership’s ownership of 22.7% in Ursa and 25% in KM Phoenix. Environmental Matters We are subject to federal, state, and local environmental laws and regulations. We record provisions for environmental liabilities based on management’s best estimates, using all information that is available at the time. In making environmental liability estimations, we consider the material effect of environmental compliance, pending legal actions against us and potential third-party liability claims. Often, as the remediation evaluation and effort progress, additional information is obtained, requiring revisions to estimated costs. We are indemnified by our Parent under the omnibus agreement against environmental cleanup costs for incidents that occurred prior to Partnership ownership. Revisions to the estimated environmental liability for conditions that are not indemnified under the omnibus agreement with our Parent are reflected in the Partnership's condensed consolidated statements of operations in the year in which they are probable and reasonably estimable. We accru ed $3.6 million and $3.7 million for environmental liabilities at March 31, 2020 and December 31, 2019, respectively. These balances are broken down on the condensed consolidated balance sheets as follows: Balance sheet location March 31, 2020 December 31, 2019 Current portion of environmental remediation obligations Other current liabilities $ 0.6 $ 0.6 Long-term portion of environmental remediation obligations Other liabilities 3.0 3.1 Total $ 3.6 $ 3.7 The balances are related to incidents that occurre d prior to our ownership and are entirely indemnified by our Parent. As a result, we recorded corresponding indemnification assets $3.6 million and $3.7 million at March 31, 2020 and December 31, 2019, respectively. These balances are broken down on the condensed consolidated balance sheets as follows: Balance sheet location March 31, 2020 December 31, 2019 Current portion of indemnification assets Other current assets $ 0.6 $ 0.6 Non-current portion of indemnification assets Other assets 3.0 3.1 Total $ 3.6 $ 3.7 Griffith Station Incident

Unit-Based Compensation

Unit-Based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Unit-Based Compensation	11. Unit-Based Compensation Long-Term Incentive Plan On October 26, 2017, the General Partner adopted the BP Midstream Partners LP 2017 Long Term Incentive Plan (the “LTIP”). Awards under the LTIP are available for eligible officers, directors, employees and consultants of the General Partner and its affiliates, who perform services for the Partnership. The LTIP allows the Partnership to grant unit options, unit appreciation rights, restricted units, phantom units, unit awards, cash awards, performance awards, distribution equivalent rights, substitute awards and other unit-based awards. The maximum aggregate number of common units that may be issued pursuant to the awards granted under the LTIP shall not exceed 5,502,271, subject to proportionate adjustment in the event of unit splits and similar events. Unit-Based Awards under the LTIP The following is a summary of phantom unit award activities of the Partnership’s common units for the three months ended March 31, 2020: Phantom Units Number of Units (in units) Weighted Average Grant Date Fair Value per Unit (in dollars) Outstanding at December 31, 2019 15,227 $ 16.64 Granted 16,038 14.03 Vested (15,227) 16.64 Outstanding at March 31, 2020 16,038 $ 14.03

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity	12. Variable Interest Entity Mardi Gras is a Delaware limited liability company and a pass-through entity for U.S. federal and state income tax purposes. Mardi Gras holds equity interests in the Mardi Gras Joint Ventures and accounts for them as equity method investments. Mardi Gras does not have any other operations or activities. The remaining interests in each of the Mardi Gras Joint Ventures are owned by unaffiliated third-party investors. Each of the Mardi Gras Joint Ventures is managed by its respective management committee, and decisions made by these management committees require approval of two or more members that are not affiliates with equity interest holdings meeting certain thresholds. We have 65% ownership interest and 100% managing member interest in Mardi Gras. The remainder of the economic interest in Mardi Gras was held 34% by BP Pipelines and 1% by an affiliate of BP. Through our managing member interest in Mardi Gras, we have the right to vote 100% of Mardi Gras’ interest in each of the Mardi Gras Joint Ventures. We determined that Mardi Gras is a variable interest entity because (i) we hold disproportional voting rights as compared to our economic interest in Mardi Gras, and (ii) substantially all of Mardi Gras’ activities involve or are conducted on behalf of our Parent, which holds disproportionately few voting rights. The managing member interest in Mardi Gras provides us with the unilateral power to direct the activities of Mardi Gras that most significantly impact its economic performance including the right to exercise the voting rights of BP for each of the Mardi Gras Joint Ventures. In addition, our obligations to absorb the expected losses of and the right to receive the residual returns from Mardi Gras relative to our economic ownership is significant to Mardi Gras. As a result, we are the primary beneficiary of Mardi Gras and consolidate Mardi Gras. We have the obligation to provide financial support to Mardi Gras if all members unanimously determine that additional capital contributions are necessary to fund Mardi Gras’ operations. The assets of Mardi Gras can only be used to satisfy its own obligations, which were zero at March 31, 2020 and December 31, 2019. Under the current limited liability company agreement of Mardi Gras, creditors of Mardi Gras, if any, do not have any recourse to the general credit of the Partnership. The financial position of Mardi Gras at March 31, 2020 and December 31, 2019, its financial performance for the three months ended March 31, 2020 and 2019 and cash flows for the three months ended March 31, 2020 and 2019, as reflected in the condensed consolidated financial statements, are as follows: March 31, 2020 December 31, 2019 Balance sheet Equity method investments $ 388.7 $ 391.3 Non-controlling interests 136.0 136.9 Three Months Ended March 31, 2020 2019 Statement of operations Income from equity method investments $ 16.6 $ 9.9 Less: Net income attributable to non-controlling interests 5.8 3.5 Net impact on Net income attributable to the Partnership $ 10.8 $ 6.4 Three Months Ended March 31, 2020 2019 Statement of cash flows Cash flows from operating activities Distributions of earnings received from equity method investments $ 16.4 $ 9.9 Cash flows from investing activities Distribution in excess of earnings from equity method investments 2.8 3.2 Cash flows from financing activities Distributions to non-controlling interests (6.7) (4.6) Net change on the Partnership's cash and cash equivalents $ 12.5 $ 8.5

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated subsequent events through the issuance of these condensed consolidated financial statements. Based on this evaluation, it was determined that no subsequent events occurred, other than the distribution noted below, that require recognition or disclosure in the condensed consolidated financial statements. Distribution

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Condensed consolidated financial statements have been prepared under the rules and regulations of the Securities and Exchange Commission (“SEC”). These rules and regulations conform to the accounting principles contained in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification, the single source of accounting principles generally accepted in the United States (“GAAP”). Certain information and footnote disclosures normally included in the annual consolidated financial statements have been condensed or omitted from these condensed consolidated financial statements. The condensed consolidated financial statements as of March 31, 2020, and for the three months ended March 31, 2020 and 2019, included herein, are unaudited. These financial statements include all known accruals and adjustments necessary, in the opinion of management, for a fair presentation of our condensed consolidated financial position, results of operations and cash flows. Unless otherwise specified, all such adjustments are of a normal and recurring nature. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These unaudited condensed consolidated financial statements and other information included in this quarterly report on Form 10-Q should be read in conjunction with our audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the "Partnership's 2019 10-K"). Partnership financial position, results of operations and cash flows consist of consolidated BP Midstream Partners LP activities and balances. All intercompany accounts and transactions within the financial statements have been eliminated for all periods presented.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information about disaggregated revenue: Three Months Ended March 31, 2020 2019 Transportation services revenue - third parties $ 1.0 $ 0.8 Transportation services revenue - related parties 29.7 29.4 Total revenue $ 30.7 $ 30.2
Summary of Remaining Performance Obligation, Expected Timing of Satisfaction	The fixed portion of existing customer contracts are summarized in the future performance obligations as of March 31, 2020. The unfulfilled performance obligations included in the table below are expected to be recognized in revenue in the specified periods: As of March 31, 2020 Remainder of 2020 $ 88.5 2021 1.7 Total $ 90.2
Summary of Contract with Customer, Assets and Liabilities	The following table provides information about receivables from contracts with customers, contract assets and contract liabilities: March 31, 2020 December 31, 2019 Receivables from contracts with customers - third parties $ 0.4 $ 0.6 Receivables from contracts with customers - related parties 10.4 11.3 Deferred revenue and credits - related parties 2.1 1.5

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The table below summarizes the balances and activities related for each equity method investment ("EMI") recorded as of and for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 Percentage Ownership Distributions Received Income from EMI Carrying Value Percentage Ownership Distributions Received Income from EMI Carrying Value Mars 28.5% $ (13.0) $ 12.5 $ 56.4 28.5% $ (12.2) $ 11.9 $ 58.8 Caesar 56.0% (4.9) 4.5 117.0 56.0% (5.3) 5.3 119.4 Cleopatra 53.0% (2.9) 2.0 116.7 53.0% (3.4) 2.7 118.9 Proteus 65.0% (5.5) 4.1 73.9 65.0% (2.3) 0.6 79.6 Endymion 65.0% (5.9) 6.0 81.1 65.0% (2.0) 1.2 81.7 Others (1) Various (2.0) 2.2 86.4 Various (3.3) 2.7 86.5 Total Equity Investments $ (34.2) $ 31.3 $ 531.5 $ (28.5) $ 24.4 $ 544.9 (1) Includes ownership in Ursa (22.7%) and KM Phoenix (25%). The following table presents aggregated selected income statement data for equity method investments on a 100% basis for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Statement of operations Revenue $ 144.6 $ 116.0 Operating expenses 64.3 45.8 Net income 80.5 70.3

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	Property, plant and equipment consisted of the following: March 31, 2020 December 31, 2019 Land $ 0.2 $ 0.2 Right-of-way assets 1.4 1.4 Buildings and improvements 6.9 6.9 Pipelines and equipment 94.6 94.4 Other 0.5 0.5 Construction in progress 1.2 0.6 Property, plant and equipment 104.8 104.0 Less: Accumulated depreciation (42.0) (41.3) Property, plant and equipment, net $ 62.8 $ 62.7

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: March 31, 2020 December 31, 2019 Current portion of environmental remediation obligation $ 0.6 $ 0.6 Current portion of lease liabilities 0.1 0.1 Accrued interest payable - related parties 0.4 4.2 Accrued liabilities 2.0 1.7 Other current liabilities $ 3.1 $ 6.6

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	For the three months ended March 31, 2020 and 2019, we recorded the following amounts for related party expenses, which also included the expenses related to share-based compensation discussed below: Three Months Ended 2020 2019 Operating expenses—related parties $ 1.5 $ 1.5 Maintenance expenses—related parties 0.1 — General and administrative—related parties 3.9 3.4 Total costs and expenses—related parties $ 5.5 $ 4.9

Net Income Per Limited Partne_2

Net Income Per Limited Partner Unit (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Distributions	The following table details the distributions declared and/or paid for the periods presented: Three Months Ended Date Paid or General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions per Limited Partner Unit (in dollars) December 31, 2018 February 14, 2019 $ — $ 15.8 $ 15.8 $ 31.6 $ 0.3015 March 31, 2019 May 15, 2019 0.2 16.4 16.4 33.0 0.3126 December 31, 2019 February 13, 2020 1.2 18.2 18.2 37.6 0.3475 March 31, 2020 May 14, 2020 1.2 18.2 18.2 37.6 0.3475
Schedule of Earnings Per Share	The following tables show the allocation of net income to arrive at net income per limited partner unit for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 2019 Net income attributable to the Partnership $ 41.7 $ 37.2 Less: Incentive distribution rights currently held by the General Partner 1.2 0.2 Limited partners' distribution declared on common units 18.2 16.4 Limited partners' distribution declared on subordinated units 18.2 16.4 Net income attributable to the Partnership in excess of distributions $ 4.1 $ 4.2 Three Months Ended March 31, 2020 General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions declared $ 1.2 $ 18.2 $ 18.2 $ 37.6 Net income attributable to the Partnership in excess of distributions — 2.1 2.0 4.1 Net income attributable to the Partnership $ 1.2 $ 20.3 $ 20.2 $ 41.7 Weighted average units outstanding: Basic and Diluted 52.4 52.4 104.8 Net income per limited partner unit (in dollars): Basic and Diluted $ 0.39 $ 0.39 Three Months Ended March 31, 2019 General Partner Limited Partners' Common Units Limited Partners' Subordinated Units Total Distributions declared $ 0.2 $ 16.4 $ 16.4 $ 33.0 Net income attributable to the Partnership in excess of distributions — 2.1 2.1 4.2 Net income attributable to the Partnership $ 0.2 $ 18.5 $ 18.5 $ 37.2 Weighted average units outstanding: Basic and Diluted 52.4 52.4 104.8 Net income per limited partner unit (in dollars): Basic and Diluted $ 0.35 $ 0.35

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Balance Sheet Classification of Environmental Liabilities	These balances are broken down on the condensed consolidated balance sheets as follows: Balance sheet location March 31, 2020 December 31, 2019 Current portion of environmental remediation obligations Other current liabilities $ 0.6 $ 0.6 Long-term portion of environmental remediation obligations Other liabilities 3.0 3.1 Total $ 3.6 $ 3.7
Schedule Of Indemnification Asset For Environmental Loss Contingencies	These balances are broken down on the condensed consolidated balance sheets as follows: Balance sheet location March 31, 2020 December 31, 2019 Current portion of indemnification assets Other current assets $ 0.6 $ 0.6 Non-current portion of indemnification assets Other assets 3.0 3.1 Total $ 3.6 $ 3.7

Unit-Based Compensation (Tables

Unit-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Phantom Units Activity	The following is a summary of phantom unit award activities of the Partnership’s common units for the three months ended March 31, 2020: Phantom Units Number of Units (in units) Weighted Average Grant Date Fair Value per Unit (in dollars) Outstanding at December 31, 2019 15,227 $ 16.64 Granted 16,038 14.03 Vested (15,227) 16.64 Outstanding at March 31, 2020 16,038 $ 14.03

Variable Interest Entity (Table

Variable Interest Entity (Tables)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entity	The financial position of Mardi Gras at March 31, 2020 and December 31, 2019, its financial performance for the three months ended March 31, 2020 and 2019 and cash flows for the three months ended March 31, 2020 and 2019, as reflected in the condensed consolidated financial statements, are as follows: March 31, 2020 December 31, 2019 Balance sheet Equity method investments $ 388.7 $ 391.3 Non-controlling interests 136.0 136.9 Three Months Ended March 31, 2020 2019 Statement of operations Income from equity method investments $ 16.6 $ 9.9 Less: Net income attributable to non-controlling interests 5.8 3.5 Net impact on Net income attributable to the Partnership $ 10.8 $ 6.4 Three Months Ended March 31, 2020 2019 Statement of cash flows Cash flows from operating activities Distributions of earnings received from equity method investments $ 16.4 $ 9.9 Cash flows from investing activities Distribution in excess of earnings from equity method investments 2.8 3.2 Cash flows from financing activities Distributions to non-controlling interests (6.7) (4.6) Net change on the Partnership's cash and cash equivalents $ 12.5 $ 8.5

Business and Basis of Present_3

Business and Basis of Presentation (Details) - segment	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Variable Interest Entity [Line Items]
Number of reportable segments	1
KM Phoenix
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	25.00%
Total Mardi Gras Joint Ventures
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	65.00%
KM Phoenix
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	25.00%
Ursa
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	22.70%
Mars
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	28.50%	28500000.00%
Caesar
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	56.00%	56000000.00%
Cleopatra
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	53.00%	53000000.00%
Proteus
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	65.00%	65000000.00%
Endymion
Variable Interest Entity [Line Items]
Equity Method Investment, Ownership Percentage	65.00%	65000000.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Income related to FLA arrangements with Parent	$ 1.5	$ 2.5

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Transportation services revenue - third parties	$ 1	$ 0.8
Transportation services revenue - related parties	29.7	29.4
Total revenue	$ 30.7	$ 30.2

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation, Expected Timing of Satisfaction (Details) $ in Millions	Mar. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Unfulfilled performance obligations	$ 90.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue from Contract with Customer [Abstract]
Unfulfilled performance obligations	$ 88.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Unfulfilled performance obligations	$ 1.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer, Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from contracts with customers	$ 0.4	$ 0.6
Third parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from contracts with customers	0.4	0.6
Related parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from contracts with customers	10.4	11.3
Deferred revenue and credits	$ 2.1	$ 1.5

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Impairment loss on equity method investments	$ 0	$ 0

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 34,200	$ 28,500
Income from equity method investments	31,300	24,400
Equity method investments	531,500	544,900	$ 534,400
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Revenues	144,600	116,000
Operating expenses	64,300	45,800
Net income	$ 80,500	$ 70,300
Mars
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	28.50%	28500000.00%
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 13,000	$ 12,200
Income from equity method investments	12,500	11,900
Equity method investments	$ 56,400	$ 58,800
Caesar
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	56.00%	56000000.00%
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 4,900	$ 5,300
Income from equity method investments	4,500	5,300
Equity method investments	$ 117,000	$ 119,400
Cleopatra
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	53.00%	53000000.00%
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 2,900	$ 3,400
Income from equity method investments	2,000	2,700
Equity method investments	$ 116,700	$ 118,900
Proteus
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	65.00%	65000000.00%
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 5,500	$ 2,300
Income from equity method investments	4,100	600
Equity method investments	$ 73,900	$ 79,600
Endymion
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	65.00%	65000000.00%
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	$ 5,900	$ 2,000
Income from equity method investments	6,000	1,200
Equity method investments	81,100	81,700
Others
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Proceeds From Equity Method Investment, Dividends Or Distributions, Return On Capital And Return Of Capital	2,000	3,300
Income from equity method investments	2,200	2,700
Equity method investments	$ 86,400	$ 86,500
Total Mardi Gras Joint Ventures
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	65.00%
Ursa
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	22.70%
KM Phoenix
Equity Method Investment, Financial Statement, Reported Amounts [Abstract]
Equity Method Investment, Ownership Percentage	25.00%

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 104,800	$ 104,000
Less: Accumulated depreciation	(42,000)	(41,300)
Property, plant and equipment, net	62,800	62,700
Impairment charge	0
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	200	200
Rights-of-way
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,400	1,400
Building and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	6,900	6,900
Pipeline and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	94,600	94,400
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment	500	500
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 1,200	$ 600

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Current portion of environmental remediation obligations	$ 600	$ 600
Current portion of lease liabilities	100	100
Accrued interest payable - related parties	400	4,200
Accrued liabilities	2,000	1,700
Other current liabilities	$ 3,100	$ 6,600

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Line of Credit Facility [Line Items]
Weighted average interest rate	3.25%	2.24%
Long-term Debt, Gross	$ 468
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Outstanding borrowing	468,000,000	$ 468,000,000	$ 468,000,000
Interest expense	$ 3,600,000	$ 4,100,000
Commitment fee percentage	0.10%
Utilization fee percentage	0.20%

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Related parties	$ 29,700	$ 29,400
Deferred revenue and credits	2,100		$ 1,500
BP Pipelines
Related Party Transaction [Line Items]
Annual fee paid to related party	$ 15,200	13,600
Total Mardi Gras Joint Ventures
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by Parent	3500.00%
Parent
Related Party Transaction [Line Items]
Performance or restricted period	3 years
Parent [Member]
Related Party Transaction [Line Items]
Performance or restricted period	3 years
BP Products
Related Party Transaction [Line Items]
Deficiency revenue	$ 2,356	$ 3,857

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transactions [Abstract]
Operating expenses—related parties	$ 1,500	$ 1,500
Maintenance expenses—related parties	100	0
General and administrative—related parties	3,900	3,400
Total costs and expenses—related parties	$ 5,500	$ 4,900

Net Income Per Limited Partne_3

Net Income Per Limited Partner Unit - Schedule of Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 15, 2020	May 15, 2019	Mar. 31, 2020	Mar. 31, 2019
Distribution Made to Limited Partner [Line Items]
Partner distributions declared		$ 33,000	$ 37,600	$ 33,000
Dividends declared per share (in dollars per share)		$ 0.3126
General Partner
Distribution Made to Limited Partner [Line Items]
Partner distributions declared		$ 200	1,200	200
Limited Partners Common Units
Distribution Made to Limited Partner [Line Items]
Partner distributions declared		16,400	18,200	16,400
Limited Partners Subordinated Units
Distribution Made to Limited Partner [Line Items]
Partner distributions declared		$ 16,400	$ 18,200	$ 16,400
Subsequent Event
Distribution Made to Limited Partner [Line Items]
Dividends declared per share (in dollars per share)	$ 0.3475

Net Income Per Limited Partne_4

Net Income Per Limited Partner Unit - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	May 15, 2019	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Partner distributions declared	$ 33,000	$ 37,600	$ 33,000
Net income attributable to the Partnership in excess of distributions		4,100	4,200
Net income attributable to the Partnership		$ 41,700	$ 37,200
Weighted average units outstanding:
Basic and Diluted (in shares)		104.8	104.8
Incentive distribution rights currently held by the General Partner
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Partner distributions declared	200	$ 1,200	$ 200
Net income attributable to the Partnership in excess of distributions		0	0
Net income attributable to the Partnership		1,200	200
Limited partners' distribution declared on common units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Partner distributions declared	16,400	18,200	16,400
Net income attributable to the Partnership in excess of distributions		2,100	2,100
Net income attributable to the Partnership		$ 20,300	$ 18,500
Weighted average units outstanding:
Basic and Diluted (in shares)		52.4	52.4
Net income per limited partner unit (in dollars):
Basic and Diluted (in dollars per share)		$ 0.39	$ 0.35
Limited partners' distribution declared on subordinated units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Partner distributions declared	$ 16,400	$ 18,200	$ 16,400
Net income attributable to the Partnership in excess of distributions		2,000	2,100
Net income attributable to the Partnership		$ 20,200	$ 18,500
Weighted average units outstanding:
Basic and Diluted (in shares)		52.4	52.4
Net income per limited partner unit (in dollars):
Basic and Diluted (in dollars per share)		$ 0.39	$ 0.35

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Site Contingency [Line Items]
Environmental liabilities	$ 3,600	$ 3,700
Indemnification assets	3,600	$ 3,700
Impairment charge	$ 0
Mars
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	28.50%		28500000.00%
Mardi Gras Transportation System Company LLC
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	65.00%
Caesar
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	56.00%		56000000.00%
Cleopatra
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	53.00%		53000000.00%
Endymion
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	65.00%		65000000.00%
Proteus
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	65.00%		65000000.00%
Ursa
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	22.70%
KM Phoenix
Site Contingency [Line Items]
Equity Method Investment, Ownership Percentage	25.00%

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Balance Sheet Classification of Environmental Liabilities and Indemnification Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Current portion of environmental remediation obligations	$ 600	$ 600
Long-term portion of environmental remediation obligations	3,000	3,100
Total	3,600	3,700
Current portion of indemnification assets	600	600
Non-current portion of indemnification assets	3,000	3,100
Total	$ 3,600	$ 3,700

Unit-Based Compensation - Narra

Unit-Based Compensation - Narrative (Details) - Phantom Share Units (PSUs) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense	$ 63,000	$ 40
Unrecognized compensation cost related to phantom unit awards	$ 203,000
Weighted average recognition period	10 months 24 days
BP Midstream Partners LP 2017 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum aggregate number of common units that may be issued (in shares)	5,502,271

Unit-Based Compensation - Phant

Unit-Based Compensation - Phantom Units Activity (Details) - Phantom Share Units (PSUs)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Number of Units (in units)
Beginning balance outstanding (shares) | shares	15,227
Granted (in shares) | shares	16,038
Vested (in shares) | shares	(15,227)
Ending balance outstanding (shares) | shares	16,038
Weighted Average Grant Date Fair Value per Unit (in dollars)
Beginning balance outstanding (in dollars per share) | $ / shares	$ 16.64
Granted (in dollars per share) | $ / shares	14.03
Vested (in dollars per share) | $ / shares	16.64
Ending balance outstanding (in dollars per share) | $ / shares	$ 14.03

Variable Interest Entity (Detai

Variable Interest Entity (Details) - USD ($)	Oct. 30, 2017	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Equity method investments		$ 531,500,000	$ 544,900,000	$ 534,400,000
Non-controlling interests		136,000,000		136,900,000
Statement of operations
Income from equity method investments		31,300,000	24,400,000
Less: Net income attributable to non-controlling interests		5,800,000	3,500,000
Net income attributable to the Partnership		41,700,000	37,200,000
Cash flows from operating activities
Distributions of earnings received from equity method investments		31,400,000	25,300,000
Cash flows from financing activities
Distributions to non-controlling interests		$ (6,700,000)	(4,600,000)
Mardi Gras Transportation System Company LLC | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Managing member interest (as a percent)	100.00%
Remainder of economic interest held by affiliate (as a percent)	1.00%
Mardi Gras Transportation System Company LLC
Cash flows from financing activities
Equity Method Investment, Ownership Percentage		65.00%
Mardi Gras Transportation System Company LLC | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets of VIE		$ 0		0
Balance Sheet Related Disclosures [Abstract]
Equity method investments		388,700,000		391,300,000
Non-controlling interests		136,000,000		$ 136,900,000
Statement of operations
Income from equity method investments		16,600,000	9,900,000
Less: Net income attributable to non-controlling interests		5,800,000	3,500,000
Net income attributable to the Partnership		10,800,000	6,400,000
Cash flows from operating activities
Distributions of earnings received from equity method investments		16,400,000	9,900,000
Cash flows from investing activities
Distribution in excess of earnings from equity method investments		2,800,000	3,200,000
Cash flows from financing activities
Distributions to non-controlling interests		(6,700,000)	(4,600,000)
Net change in cash and cash equivalents		$ 12,500,000	$ 8,500,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	May 14, 2020	Apr. 15, 2020	May 15, 2019
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)			$ 0.3126
Scenario, Forecast
Subsequent Event [Line Items]
Total distribution paid	$ 37.6
Dividends paid to non-affiliated common unitholders	16.6
Net transfers to Parent	21
Incentive distribution rights	$ 1.2
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)		$ 0.3475