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Segment Data (Tables)

12 Months Ended

Dec. 31, 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):

						Year Ended December 31, 2023
(In thousands)						Gathering and Processing (1)						Wholesale Marketing and Terminalling						Storage and Transportation						Investments in Pipeline Joint Ventures						Corporate and Other						Consolidated
Net revenues:
Affiliate (2)						$	212,537					$	218,997					$	132,269					$	—					$	—					$	563,803
Third party						158,573						286,704						11,329						—						—						456,606
Total revenue						$	371,110					$	505,701					$	143,598					$	—					$	—					$	1,020,409
Segment EBITDA						$	199,463					$	106,512					$	63,850					$	31,424					$	(30,969)					$	370,280
Depreciation and amortization						72,181						7,055						9,839						—						3,309						92,384
Amortization of marketing contract intangible						—						7,211						—						—						—						7,211
Interest expense, net						—						—						—						—						143,244						143,244
Income tax expense																																				1,205
Net income																																				$	126,236
Capital spending (3)						$	74,683					$	2,111					$	4,548					$	—					$	—					$	81,342

						Year Ended December 31, 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 (2)						$	185,845					$	173,084					$	120,482					$	—					$	—					$	479,411
Third party						119,582						415,800						21,614						—						—						556,996
Total revenue						$	305,427					$	588,884					$	142,096					$	—					$	—					$	1,036,407
Segment EBITDA						$	175,250					$	83,098					$	56,269					$	31,683					$	(34,363)					$	311,937
Depreciation and amortization						47,206						6,308						8,591						—						883						62,988
Amortization of marketing contract intangible						—						7,211						—						—						—						7,211
Interest expense, net						—						—						—						—						82,304						82,304
Income tax expense																																				382
Net income																																				$	159,052
Capital spending (3)						$	122,594					$	1,548					$	6,528					$	—					$	—					$	130,670

						Year ended December 31, 2021
(In thousands)						Gathering and Processing						Wholesale Marketing and Terminalling						Storage and Transportation						Investments in Pipeline Joint Ventures						Corporate and Other						Consolidated
Net revenues:
Affiliate (2)						$	157,182					$	147,793					$	113,851					$	—					$	—					$	418,826
Third party						4,670						265,464						11,942						—						—						282,076
Total revenue						$	161,852					$	413,257					$	125,793					$	—					$	—					$	700,902
Segment EBITDA						$	126,818					$	79,597					$	56,929					$	24,575					$	(22,742)					$	265,177
Depreciation and amortization						22,394						5,547						8,588						—						6,241						42,770
Amortization of marketing contract intangible						—						7,211						—						—						—						7,211
Interest expense, net						—						—						—						—						50,221						50,221
Income tax expense																																				153
Net income																																				$	164,822
Capital spending (3)						$	22,262					$	3,622					$	1,567					$	—					$	—					$	27,451

(1) EBITDA includes $14.8 million of goodwill impairment expense for the year ended December 31, 2023. Refer to Note 8 - Goodwill for further information.

(2) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible.

(3) Capital spending includes additions on an accrual basis. Capital spending for the year ended December 31, 2021 excludes contributions to equity method investments amounting to $1.4 million. There were no contributions made during the years ended December 31, 2023 and 2022.

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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

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- References

No definition available.

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