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v3.22.2.2

Segment Data (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Summary Segment Data | The following is a summary of business segment operating performance as measured by contribution margin, with the exception of investments in pipeline joint ventures segment, which is measured based on equity method income (loss), for the periods indicated (in thousands):
(in thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Pipelines and Transportation |  |  |  |  |  |  |
Net revenues: |  |  |  |  |  |  |
Affiliate | $ | 79,395 |  |  | $ | 70,879 |  |  | $ | 225,711 |  |  | $ | 199,591 |
Third party | 5,883 |  |  | 5,323 |  |  | 15,978 |  |  | 12,021 |
Total pipelines and transportation | 85,278 |  |  | 76,202 |  |  | 241,689 |  |  | 211,612 |
Cost of materials and other | 20,004 |  |  | 15,170 |  |  | 58,272 |  |  | 42,595 |
Operating expenses (excluding depreciation and amortization presented below) | 11,292 |  |  | 13,680 |  |  | 37,789 |  |  | 34,710 |
Segment contribution margin | $ | 53,982 |  |  | $ | 47,352 |  |  | $ | 145,628 |  |  | $ | 134,307 |
Depreciation and amortization | $ | 7,847 |  |  | $ | 8,056 |  |  | $ | 23,668 |  |  | $ | 24,918 |
Capital spending | $ | 21,151 |  |  | $ | 2,570 |  |  | $ | 50,793 |  |  | $ | 9,946 |
Wholesale Marketing and Terminalling |  |  |  |  |  |  |
Net revenues: |  |  |  |  |  |  |
Affiliate | $ | 45,162 |  |  | $ | 52,640 |  |  | $ | 144,004 |  |  | $ | 108,844 |
Third party | 102,703 |  |  | 60,785 |  |  | 300,177 |  |  | 190,562 |
Total wholesale marketing and terminalling | 147,865 |  |  | 113,425 |  |  | 444,181 |  |  | 299,406 |
Cost of materials and other | 122,614 |  |  | 89,959 |  |  | 373,126 |  |  | 232,400 |
Operating expenses (excluding depreciation and amortization presented below) | 6,952 |  |  | 3,908 |  |  | 17,397 |  |  | 13,317 |
Segment contribution margin | $ | 18,299 |  |  | $ | 19,558 |  |  | $ | 53,658 |  |  | $ | 53,689 |
Depreciation and amortization | $ | 2,640 |  |  | $ | 2,100 |  |  | $ | 7,641 |  |  | $ | 5,944 |
Capital spending | $ | 278 |  |  | $ | 1,566 |  |  | $ | 1,337 |  |  | $ | 4,580 |
3 Bear Operations |  |  |  |  |  |  |
Net revenues: |  |  |  |  |  |  |
Affiliate | $ | 2,593 |  |  | $ | — |  |  | $ | 5,555 |  |  | $ | — |
Third party | 58,289 |  |  | — |  |  | 75,931 |  |  | — |
Total 3 Bear | 60,882 |  |  | — |  |  | 81,486 |  |  | — |
Cost of materials and other | 35,122 |  |  | — |  |  | 48,897 |  |  | — |
Operating expenses (excluding depreciation and amortization presented below) | 7,657 |  |  | — |  |  | 9,811 |  |  | — |
Segment contribution margin | $ | 18,103 |  |  | $ | — |  |  | $ | 22,778 |  |  | $ | — |
Depreciation and amortization | $ | 9,053 |  |  | $ | — |  |  | $ | 11,988 |  |  | $ | — |
Capital spending | $ | 10,531 |  |  | $ | — |  |  | $ | 15,642 |  |  | $ | — |
Investments in Pipeline Joint Ventures |  |  |  |  |  |  |
Income from equity method investments | $ | 8,567 |  |  | $ | 7,261 |  |  | $ | 22,666 |  |  | $ | 17,952 |
Equity method investments contributions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,393) |
Consolidated |  |  |  |  |  |  |
Net revenues: |  |  |  |  |  |  |
Affiliate | $ | 127,150 |  |  | $ | 123,519 |  |  | $ | 375,270 |  |  | $ | 308,435 |
Third party | 166,875 |  |  | 66,108 |  |  | 392,086 |  |  | 202,583 |
Total Consolidated | 294,025 |  |  | 189,627 |  |  | 767,356 |  |  | 511,018 |
Cost of materials and other | 177,740 |  |  | 105,129 |  |  | 480,295 |  |  | 274,995 |
Operating expenses (excluding depreciation and amortization presented below) | 25,901 |  |  | 17,588 |  |  | 64,997 |  |  | 48,027 |
Contribution margin | 90,384 |  |  | 66,910 |  |  | 222,064 |  |  | 187,996 |
General and administrative expenses | 11,959 |  |  | 5,898 |  |  | 30,826 |  |  | 15,933 |
Depreciation and amortization | 19,540 |  |  | 10,156 |  |  | 43,297 |  |  | 30,862 |
Other operating (income) expense, net | (132) |  |  | 273 |  |  | (120) |  |  | 54 |
Operating income | $ | 59,017 |  |  | $ | 50,583 |  |  | $ | 148,061 |  |  | $ | 141,147 |
Capital spending and capital contributions to equity method investments | $ | 31,960 |  |  | $ | 4,136 |  |  | $ | 67,772 |  |  | $ | 14,526 |
Assets by segment are not a measure used to assess the performance of the company by the chief operating decision maker and thus are not disclosed. Property, plant and equipment, accumulated depreciation and depreciation expense for the Partnership's reportable segments, excluding the investment in pipeline joint ventures segment, as of and for the three and nine months ended September 30, 2022 were as follows (in thousands):
| Pipelines and Transportation |  | Wholesale Marketing and Terminalling |  | 3 Bear Operations |  | Consolidated
Property, plant and equipment | $ | 657,788 |  |  | $ | 122,096 |  |  | $ | 398,450 |  |  | $ | 1,178,334 |
Less: accumulated depreciation | (229,206) |  |  | (67,817) |  |  | (5,711) |  |  | (302,734) |
Property, plant and equipment, net | $ | 428,582 |  |  | $ | 54,279 |  |  | $ | 392,739 |  |  | $ | 875,600 |
Depreciation expense for the three months ended September 30, 2022 | $ | 7,847 |  |  | $ | 2,640 |  |  | $ | 4,284 |  |  | $ | 14,771 |
Depreciation expense for the nine months ended September 30, 2022 | $ | 23,668 |  |  | $ | 7,641 |  |  | $ | 6,277 |  |  | $ | 37,586 |

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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