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v3.24.3

Segment Data (Tables) | 9 Months Ended
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Sep. 30, 2024
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 September 30, 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) |  | $ | 39,910 |  |  | $ | 51,682 |  |  | $ | 23,307 |  |  | $ | — |  |  | $ | — |  |  | $ | 114,899 |
Third party |  | 41,617 |  |  | 55,256 |  |  | 2,298 |  |  | — |  |  | — |  |  | 99,171 |
Total revenue |  | $ | 81,527 |  |  | $ | 106,938 |  |  | $ | 25,605 |  |  | $ | — |  |  | $ | — |  |  | $ | 214,070 |
Segment EBITDA |  | $ | 42,380 |  |  | $ | 20,245 |  |  | $ | 7,526 |  |  | $ | 15,602 |  |  | $ | (16,572) |  |  | $ | 69,181 |
Depreciation and amortization |  | 16,424 |  |  | 2,796 |  |  | 1,218 |  |  | — |  |  | 766 |  |  | 21,204 |
Amortization of customer contract intangible |  | — |  |  | 601 |  |  | — |  |  | — |  |  | — |  |  | 601 |
Interest income |  | (11,531) |  |  | (3,707) |  |  | (8,232) |  |  | — |  |  | — |  |  | (23,470) |
Interest expense |  | — |  |  | — |  |  | — |  |  | — |  |  | 37,022 |  |  | 37,022 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 150 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 33,674 |
Capital spending (2) |  | $ | 62,086 |  |  | $ | 1,202 |  |  | $ | 1,910 |  |  | $ | — |  |  | $ | — |  |  | $ | 65,198 |
|  | Three Months Ended September 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 (1) |  | $ | 55,419 |  |  | $ | 70,610 |  |  | $ | 30,382 |  |  | $ | — |  |  | $ | — |  |  | $ | 156,411 |
Third party |  | 39,406 |  |  | 76,500 |  |  | 3,507 |  |  | — |  |  | — |  |  | 119,413 |
Total revenue |  | $ | 94,825 |  |  | $ | 147,110 |  |  | $ | 33,889 |  |  | $ | — |  |  | $ | — |  |  | $ | 275,824 |
Segment EBITDA |  | $ | 52,906 |  |  | $ | 28,135 |  |  | $ | 17,914 |  |  | $ | 9,288 |  |  | $ | (10,002) |  |  | $ | 98,241 |
Depreciation and amortization |  | 19,263 |  |  | 1,769 |  |  | 2,704 |  |  | — |  |  | 849 |  |  | 24,585 |
Amortization of customer contract intangible |  | — |  |  | 1,803 |  |  | — |  |  | — |  |  | — |  |  | 1,803 |
Interest expense |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,901 |  |  | 36,901 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 127 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 34,825 |
Capital spending (2) |  | $ | 12,002 |  |  | $ | 2,123 |  |  | $ | 522 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,647 |
|  | Nine Months Ended September 30, 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) |  | $ | 143,992 |  |  | $ | 175,463 |  |  | $ | 91,897 |  |  | $ | — |  |  | $ | — |  |  | $ | 411,352 |
Third party |  | 126,061 |  |  | 186,345 |  |  | 7,015 |  |  | — |  |  | — |  |  | 319,421 |
Total revenue |  | $ | 270,053 |  |  | $ | 361,808 |  |  | $ | 98,912 |  |  | $ | — |  |  | $ | — |  |  | $ | 730,773 |
Segment EBITDA |  | $ | 154,819 |  |  | $ | 75,724 |  |  | $ | 42,405 |  |  | $ | 31,974 |  |  | $ | (31,848) |  |  | $ | 273,074 |
Depreciation and amortization |  | 56,640 |  |  | 6,143 |  |  | 6,515 |  |  | — |  |  | 2,608 |  |  | 71,906 |
Amortization of marketing contract intangible |  | — |  |  | 4,206 |  |  | — |  |  | — |  |  | — |  |  | 4,206 |
Interest income |  | (11,559) |  |  | (3,707) |  |  | (8,232) |  |  | — |  |  | — |  |  | (23,498) |
Interest expense |  | — |  |  | — |  |  | — |  |  | — |  |  | 112,547 |  |  | 112,547 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 533 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 107,380 |
Capital spending (2) |  | $ | 84,160 |  |  | $ | 1,223 |  |  | $ | 5,167 |  |  | $ | — |  |  | $ | — |  |  | $ | 90,550 |
|  | Nine Months Ended September 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 (1) |  | $ | 157,362 |  |  | $ | 156,437 |  |  | $ | 100,604 |  |  | $ | — |  |  | $ | — |  |  | $ | 414,403 |
Third party |  | 123,132 |  |  | 221,809 |  |  | 6,916 |  |  | — |  |  | — |  |  | 351,857 |
Total revenue |  | $ | 280,494 |  |  | $ | 378,246 |  |  | $ | 107,520 |  |  | $ | — |  |  | $ | — |  |  | $ | 766,260 |
Segment EBITDA |  | $ | 161,014 |  |  | $ | 78,071 |  |  | $ | 46,316 |  |  | $ | 22,889 |  |  | $ | (24,111) |  |  | $ | 284,179 |
Depreciation and amortization |  | 54,511 |  |  | 5,338 |  |  | 7,109 |  |  | — |  |  | 2,459 |  |  | 69,417 |
Amortization of marketing contract intangible |  | — |  |  | 5,408 |  |  | — |  |  | — |  |  | — |  |  | 5,408 |
Interest expense |  | — |  |  | — |  |  | — |  |  | — |  |  | 104,581 |  |  | 104,581 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | 685 |
Net income |  |  |  |  |  |  |  |  |  |  |  | $ | 104,088 |
Capital spending (2) |  | $ | 62,168 |  |  | $ | 2,527 |  |  | $ | 3,933 |  |  | $ | — |  |  | $ | — |  |  | $ | 68,628 |
(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible. This intangible was assigned to Delek Holdings on August 5, 2024. (2) Capital spending includes additions on an accrual basis.

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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