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Equity Investments

3 Months Ended

Mar. 31, 2026

Equity Method Investments and Joint Ventures [Abstract]

Equity Investments

7. EQUITY INVESTMENTS

The following table presents the financial statement impact of the Partnership’s equity investments:

thousands						Percentage Ownership Interest						Balance at December 31, 2025												Equity income, net						Contributions						Distributions						Distributions in excess of cumulative earnings (1)												Balance at March 31, 2026
FRP						33.33		%				$	176,806											$	8,311					$	—					$	(8,812)					$	(3,318)											$	172,987
Mi Vida						50.00		%				31,741												(2,005)						1,768						1,979						(1,979)												31,504
Red Bluff Express						30.00		%				111,795												4,825						—						(4,825)						(461)												111,334
Rendezvous (2)						22.00		%				372												(171)						—						(101)						(100)												—
TEG						20.00		%				13,935												135						—						(141)						(154)												13,775
TEP						20.00		%				164,034												2,908						—						(3,090)						(2,996)												160,856
White Cliffs						10.00		%				6,176												773						—						(773)						(881)												5,295
Total												$	504,859											$	14,776					$	1,768					$	(15,763)					$	(9,889)											$	495,751

_________________________________________________________________________________________

(1)Distributions in excess of cumulative earnings, classified as investing cash flows in the consolidated statements of cash flows, are calculated on an individual-investment basis.

(2)Carrying value reduced to zero as of March 31, 2026, as cumulative equity method losses exceeded our investment balance. Further losses have been suspended as the Partnership has no obligation to fund losses or provide other financial support.

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- References

No definition available.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478156/740-323-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 323
-Publisher FASB
-URI https://asc.fasb.org/323/tableOfContent

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