Segment Data (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024
(In thousands)	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate (1)	$	52,553	$	52,882	$	34,190	$	—	$	—	$	139,625
Third party	43,330		66,388		2,732		—		—		112,450
Total revenue	$	95,883	$	119,270	$	36,922	$	—	$	—	$	252,075

Segment EBITDA	$	57,772	$	25,274	$	18,127	$	8,477	$	(8,149)	$	101,501
Depreciation and amortization	21,154		1,712		2,775		—		854		26,495
Amortization of customer contract intangible	—		1,803		—		—		—		1,803
Interest expense, net	—		—		—		—		40,229		40,229
Income tax expense											326
Net income											$	32,648

Capital spending (2)	$	14,723	$	(84)	$	526	$	—	$	—	$	15,165

	Three Months Ended March 31, 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 (1)	$	52,761	$	33,751	$	38,487	$	—	$	—	$	124,999
Third party	39,671		78,558		297		—		—		118,526
Total revenue	$	92,432	$	112,309	$	38,784	$	—	$	—	$	243,525

Segment EBITDA	$	55,445	$	21,954	$	13,422	$	6,316	$	(3,979)	$	93,158
Depreciation and amortization	16,447		1,689		2,102		—		867		21,105
Amortization of customer contract intangible	—		1,803		—		—		—		1,803
Interest expense, net	—		—		—		—		32,581		32,581
Income tax expense											302
Net income											$	37,367

Capital spending (2)	$	32,789	$	3,116	$	196	$	—	$	—	$	36,101

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

(2) Capital spending includes additions on an accrual basis.