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Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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,
			2022						2021
Land			$	17,367					$	14,533
Building and building improvements			5,072						2,742
Pipelines, tanks and terminals			1,103,857						654,154
Asset retirement obligation assets			2,073						2,073
Other equipment			30,849						30,774
Construction in process			81,466						11,594
Property, plant and equipment			1,240,684						715,870
Less: accumulated depreciation			(316,680)						(266,482)
Property, plant and equipment, net			$	924,004					$	449,388

Schedule of Change in Asset Retirement Obligation

The reconciliation of the beginning and ending carrying amounts of asset retirement obligations as of December 31, 2022 and 2021 is as follows (in thousands):

			December 31,
			2022						2021
Beginning balance			$	6,476					$	6,015
Liabilities acquired			2,261						—
Accretion expense			596						461
Ending balance			$	9,333					$	6,476

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- References

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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 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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- Definition

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://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6392692&loc=d3e7535-110849

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