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Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Property, Plant and Equipment

Depreciation is computed using the straight-line method over management’s estimated useful lives of the related assets. The estimated useful lives are as follows:

			Years
Buildings and building improvements			15-40
Pipelines, tanks and terminals			15-40
Asset retirement obligation assets			15-50
Other equipment			3-15

Property, plant and equipment, at cost, consist of the following (in thousands):

			December 31,
			2020						2019
Land			$	14,533					$	4,458
Building and building improvements			2,742						1,853
Pipelines, tanks and terminals			606,116						427,287
Asset retirement obligation assets			2,073						2,073
Other equipment			30,803						16,634
Construction in process			36,015						9,020
Property, plant and equipment			692,282						461,325
Less: accumulated depreciation			(227,470)						(166,281)
Property, plant and equipment, net			$	464,812					$	295,044

Property, plant and equipment, accumulated depreciation and depreciation expense by reporting segment as of and for the years ended December 31, 2020 and 2019 are as follows (in thousands):

			As of and For the Year Ended December 31, 2020
			Pipelines and Transportation						Wholesale Marketing and Terminalling						Consolidated
Property, plant and equipment			$	580,631					$	111,651					$	692,282
Less: accumulated depreciation			(176,020)						(51,450)						(227,470)
Property, plant and equipment, net			$	404,611					$	60,201					$	464,812
Depreciation expense			$	27,682					$	8,049					$	35,731

			As of and For the Year Ended December 31, 2019
			Pipelines and Transportation						Wholesale Marketing and Terminalling						Consolidated
Property, plant and equipment			$	354,429					$	106,896					$	461,325
Less: Accumulated depreciation			(125,771)						(40,510)						(166,281)
Property, plant and equipment, net			$	228,658					$	66,386					$	295,044
Depreciation expense			$	20,803					$	5,898					$	26,701

Schedule of Change in Asset Retirement Obligation

The reconciliation of the beginning and ending carrying amounts of asset retirement obligations as of December 31, 2020 and 2019 is as follows (in thousands):

			December 31,
			2020						2019
Beginning balance			$	5,588					$	5,191
Accretion expense			427						397
Ending balance			$	6,015					$	5,588

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859

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