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Segment Data (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Summary Segment Data

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

(in thousands)			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Pipelines and Transportation
Net revenues:
Affiliate			$	65,664					$	61,394					$	128,712					$	99,897
Third party			4,771						2,032						6,698						11,496
Total pipelines and transportation			70,435						63,426						135,410						111,393
Cost of materials and other			14,346						11,182						27,425						17,280
Operating expenses (excluding depreciation and amortization)			10,858						9,731						21,030						21,187
Segment contribution margin			$	45,231					$	42,513					$	86,955					$	72,926
Capital spending			$	1,531					$	417					$	7,376					$	863
Wholesale Marketing and Terminalling
Net revenues:
Affiliate (1)			$	23,058					$	26,235					$	56,204					$	94,431
Third party			74,985						27,976						129,777						75,214
Total wholesale marketing and terminalling			98,043						54,211						185,981						169,645
Cost of materials and other			74,349						32,710						142,441						127,905
Operating expenses (excluding depreciation and amortization)			4,623						2,718						8,507						6,006
Segment contribution margin			$	19,071					$	18,783					$	35,033					$	35,734
Capital spending			$	1,060					$	235					$	3,014					$	2,818
Consolidated
Net revenues:
Affiliate			$	88,722					$	87,629					$	184,916					$	194,328
Third party			79,756						30,008						136,475						86,710
Total Consolidated			168,478						117,637						321,391						281,038
Cost of materials and other			88,695						43,892						169,866						145,185
Operating expenses (excluding depreciation and amortization presented below)			15,481						12,449						29,537						27,193
Contribution margin			$	64,302					$	61,296					121,988						108,660
General and administrative expenses			6,077						4,721						10,937						10,851
Depreciation and amortization			9,967						8,694						20,706						14,993
Other operating income, net			(136)						—						(219)						(107)
Operating income			$	48,394					$	47,881					$	90,564					$	82,923
Capital spending			$	2,591					$	652					$	10,390					$	3,681

(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense related to a customer contract intangible asset. See Note 4 for additional information.

The following table summarizes the total assets for each segment as of June 30, 2021 and December 31, 2020 (in thousands). Assets for each segment include property, plant and equipment, equity method investments, intangible assets and inventory.

			June 30, 2021						December 31, 2020
Pipelines and transportation			$	699,588					$	723,317
Wholesale marketing and terminalling			214,750						206,918
Other			21,138						26,182
Total assets			$	935,476					$	956,417

Property, plant and equipment and accumulated depreciation as of June 30, 2021 and depreciation expense by reporting segment for the three and six months ended June 30, 2021 were as follows (in thousands):

			Pipelines and Transportation						Wholesale Marketing and Terminalling						Consolidated
Property, plant and equipment			$	587,821					$	114,002					$	701,823
Less: accumulated depreciation			(192,077)						(54,995)						(247,072)
Property, plant and equipment, net			$	395,744					$	59,007					$	454,751
Depreciation expense for the three months ended June 30, 2021			$	8,035					$	1,932					$	9,967
Depreciation expense for the six months ended June 30, 2021			$	16,862					$	3,844					$	20,706

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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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No definition available.

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