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Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of 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			10-40
Asset retirement obligation assets			15-50
Other equipment			3-15

Property, plant and equipment, at cost, consist of the following (in thousands):

			December 31,
			2023						2022
Land			$	17,367					$	17,367
Building and building improvements			5,072						5,072
Pipelines, tanks and terminals			1,228,676						1,103,857
Asset retirement obligation assets			2,073						2,073
Other equipment			27,604						30,849
Construction in process			39,718						81,466
Property, plant and equipment			1,320,510						1,240,684
Less: accumulated depreciation			(384,359)						(316,680)
Property, plant and equipment, net			$	936,151					$	924,004

Schedule of Change in Asset Retirement Obligation

The reconciliation of the beginning and ending carrying amounts of asset retirement obligations as of December 31, 2023 and 2022 is as follows (in thousands):

			December 31,
			2023						2022
Beginning balance			$	9,333					$	6,476
Liabilities acquired			—						2,261
Accretion expense			705						596
Ending balance			$	10,038					$	9,333

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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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
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481850/410-20-50-1

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