XML 56 R33.htm IDEA: XBRL DOCUMENT v3.21.2

Segment Data (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Pipelines and Transportation
Net revenues:
Affiliate			$	70,879					$	68,444					$	199,591					$	168,285
Third party			5,323						3,035						12,021						14,587
Total pipelines and transportation			76,202						71,479						211,612						182,872
Cost of materials and other			15,170						14,342						42,595						31,622
Operating expenses (excluding depreciation and amortization)			13,680						10,749						34,710						31,936
Segment contribution margin			$	47,352					$	46,388					$	134,307					$	119,314
Capital spending			$	2,570					$	2,552					$	9,946					$	3,424
Wholesale Marketing and Terminalling
Net revenues:
Affiliate (1)			$	52,640					$	26,966					$	108,844					$	121,454
Third party			60,785						43,823						190,562						118,980
Total wholesale marketing and terminalling			113,425						70,789						299,406						240,434
Cost of materials and other			89,959						46,350						232,400						174,255
Operating expenses (excluding depreciation and amortization)			3,665						3,481						12,232						9,487
Segment contribution margin			$	19,801					$	20,958					$	54,774					$	56,692
Capital spending			$	1,566					$	676					$	4,580					$	3,494
Consolidated
Net revenues:
Affiliate			$	123,519					$	95,410					$	308,435					$	289,739
Third party			66,108						46,858						202,583						133,567
Total Consolidated			189,627						142,268						511,018						423,306
Cost of materials and other			105,129						60,692						274,995						205,877
Operating expenses (excluding depreciation and amortization presented below)			17,345						14,230						46,942						41,423
Contribution margin			$	67,153					$	67,346					189,081						176,006
General and administrative expenses			6,141						6,122						17,018						16,973
Depreciation and amortization			10,156						9,459						30,862						24,452
Other operating expense (income), net			273						—						54						(107)
Operating income			$	50,583					$	51,765					$	141,147					$	134,688
Capital spending			$	4,136					$	3,228					$	14,526					$	6,918

(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 September 30, 2021 and December 31, 2020 (in thousands). Assets for each segment include property, plant and equipment, equity method investments, intangible assets and inventory.

			September 30, 2021						December 31, 2020
Pipelines and transportation			$	692,901					$	723,317
Wholesale marketing and terminalling			213,277						206,918
Other			24,365						26,182
Total assets			930,543						$	956,417

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

			Pipelines and Transportation						Wholesale Marketing and Terminalling						Consolidated
Property, plant and equipment			$	589,729					$	115,176					$	704,905
Less: accumulated depreciation			(199,867)						(56,829)						(256,696)
Property, plant and equipment, net			$	389,862					$	58,347					$	448,209
Depreciation expense for the three months ended September 30, 2021			$	8,056					$	2,100					$	10,156
Depreciation expense for the nine months ended September 30, 2021			$	24,918					$	5,944					$	30,862

X

- 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

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration