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v3.23.2

Segment Data (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following is a summary of business segment operating performance as measured by EBITDA for the periods indicated (in thousands):
|  | Three Months Ended June 30, 2023
(In thousands) |  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Affiliate |  | $ | 49,182 |  |  | $ | 52,076 |  |  | $ | 31,735 |  |  | $ | — |  |  | $ | — |  |  | $ | 132,993 |
Third party |  | 44,055 |  |  | 66,751 |  |  | 3,112 |  |  | — |  |  | — |  |  | 113,918 |
Total revenue |  | $ | 93,237 |  |  | $ | 118,827 |  |  | $ | 34,847 |  |  | $ | — |  |  | $ | — |  |  | $ | 246,911 |
Segment EBITDA |  | $ | 52,663 |  |  | $ | 27,983 |  |  | $ | 14,978 |  |  | $ | 7,285 |  |  | $ | (10,129) |  |  | $ | 92,780 |
Depreciation and amortization |  | 18,801 |  |  | 1,880 |  |  | 2,304 |  |  | — |  |  | 742 |  |  | 23,727 |
Amortization of customer contract intangible |  | — |  |  | 1,802 |  |  | — |  |  | — |  |  | — |  |  | 1,802 |
Interest expense, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 35,099 |  |  | 35,099 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 256 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 31,896 |
Capital spending |  | $ | 18,877 |  |  | $ | (2,712) |  |  | $ | 3,215 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,380 |
|  | Three Months Ended June 30, 2022
(In thousands) |  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Affiliate |  | $ | 45,605 |  |  | $ | 46,110 |  |  | $ | 32,651 |  |  | $ | — |  |  | $ | — |  |  | $ | 124,366 |
Third party |  | 19,221 |  |  | 119,430 |  |  | 3,733 |  |  | — |  |  | — |  |  | 142,384 |
Total revenue |  | $ | 64,826 |  |  | $ | 165,540 |  |  | $ | 36,384 |  |  | $ | — |  |  | $ | — |  |  | $ | 266,750 |
Segment EBITDA |  | $ | 38,497 |  |  | $ | 18,807 |  |  | $ | 14,529 |  |  | $ | 7,073 |  |  | $ | (14,400) |  |  | $ | 64,506 |
Depreciation and amortization |  | 8,640 |  |  | 1,668 |  |  | 2,180 |  |  | — |  |  | 934 |  |  | 13,422 |
Amortization of customer contract intangible |  | — |  |  | 1,803 |  |  | — |  |  | — |  |  | — |  |  | 1,803 |
Interest expense, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,812 |  |  | 16,812 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 305 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 32,164 |
Capital spending |  | $ | 26,630 |  |  | $ | 96 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 26,726 |
|  | Six Months Ended June 30, 2023
(In thousands) |  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Affiliate |  | $ | 101,943 |  |  | $ | 85,827 |  |  | $ | 70,222 |  |  | $ | — |  |  | $ | — |  |  | $ | 257,992 |
Third party |  | 83,726 |  |  | 145,309 |  |  | 3,409 |  |  | — |  |  | — |  |  | 232,444 |
Total revenue |  | $ | 185,669 |  |  | $ | 231,136 |  |  | $ | 73,631 |  |  | $ | — |  |  | $ | — |  |  | $ | 490,436 |
Segment EBITDA |  | $ | 108,108 |  |  | $ | 49,937 |  |  | $ | 28,400 |  |  | $ | 13,601 |  |  | $ | (14,108) |  |  | $ | 185,938 |
Depreciation and amortization |  | 35,248 |  |  | 3,569 |  |  | 4,406 |  |  | — |  |  | 1,609 |  |  | 44,832 |
Amortization of customer contract intangible |  | — |  |  | 3,605 |  |  | — |  |  | — |  |  | — |  |  | 3,605 |
Interest expense, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 67,680 |  |  | 67,680 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 558 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 69,263 |
Capital spending |  | $ | 51,666 |  |  | $ | 404 |  |  | $ | 3,411 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,481 |
|  | Six Months Ended June 30, 2022
(In thousands) |  | Gathering and Processing |  | Wholesale Marketing and Terminalling |  | Storage and Transportation |  | Investments in Pipeline Joint Ventures |  | Corporate and Other |  | Consolidated
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |
Affiliate |  | $ | 85,938 |  |  | $ | 98,842 |  |  | $ | 63,340 |  |  | $ | — |  |  | $ | — |  |  | $ | 248,120 |
Third party |  | 20,932 |  |  | 197,474 |  |  | 6,805 |  |  | — |  |  | — |  |  | 225,211 |
Total revenue |  | $ | 106,870 |  |  | $ | 296,316 |  |  | $ | 70,145 |  |  | $ | — |  |  | $ | — |  |  | $ | 473,331 |
Segment EBITDA |  | $ | 70,578 |  |  | $ | 39,541 |  |  | $ | 25,637 |  |  | $ | 14,099 |  |  | $ | (19,346) |  |  | $ | 130,509 |
Depreciation and amortization |  | 14,481 |  |  | 3,046 |  |  | 4,276 |  |  | — |  |  | 1,954 |  |  | 23,757 |
Amortization of customer contract intangible |  | — |  |  | 3,606 |  |  | — |  |  | — |  |  | — |  |  | 3,606 |
Interest expense, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,062 |  |  | 31,062 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 406 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 71,678 |
Capital spending |  | $ | 35,485 |  |  | $ | 327 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 35,812 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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