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Segment Data (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following is a summary of business segment operating performance as measured by contribution margin for the periods indicated (in thousands):

	Year Ended December 31,
	2019				2018				2017
Pipelines and Transportation
Net revenues:
Affiliate	$	155,211			$	138,418			$	109,298
Third party	23,107				15,149				12,431
Total pipelines and transportation	178,318				153,567				121,729
Cost of materials and other	22,826				19,878				18,210
Operating expenses (excluding depreciation and amortization)	54,827				39,934				33,240
Segment contribution margin	$	100,665			$	93,755			$	70,279
Capital spending (1)	$	6,600			$	6,840			$	14,262
Wholesale Marketing and Terminalling
Net revenues:
Affiliate (2)	$	105,803			$	102,391			$	46,982
Third party	299,871				401,651				369,364
Total wholesale marketing and terminalling	405,674				504,042				416,346
Cost of materials and other	313,647				409,183				354,680
Operating expenses (excluding depreciation and amortization)	19,330				18,810				10,034
Segment contribution margin	$	72,697			$	76,049			$	51,632
Capital spending (1)	$	3,387			$	4,725			$	4,141
Consolidated
Net revenues:
Affiliate	$	261,014			$	240,809			$	156,280
Third party	322,978				416,800				381,795
Total Consolidated	583,992				657,609				538,075
Cost of materials and other	336,473				429,061				372,890
Operating expenses (excluding depreciation and amortization presented below)	74,157				58,744				43,274
Contribution margin	173,362				169,804				121,911
General and administrative expenses	20,815				17,166				11,840
Depreciation and amortization	26,701				25,990				21,914
Other operating expense/(income), net	34				891				(20		)
Operating income	$	125,812			$	125,757			$	88,177
Capital spending (1)	$	9,987			$	11,565			$	18,403

⁽¹⁾ Capital spending excludes transaction costs capitalized in the amount of $0.4 million that relate to the Big Spring Logistic Assets Acquisition for the year ended December 31, 2018.

⁽²⁾ Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the Marketing Contract Intangible Acquisition. See Note 3 for additional information.

The following table summarizes the total assets for each segment as of December 31, 2019 and 2018 (in thousands).

	Year Ended December 31,
	2019				2018
Pipelines and transportation	$	537,580			$	387,333
Wholesale marketing and terminalling	206,867				237,260
Total assets	$	744,447			$	624,593

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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