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Business Segment Information | 6 Months Ended
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Jun. 30, 2017
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information In the fourth quarter of 2016, we reorganized our operating segments as a result of the way our Chief Executive Officer, who is our chief operating decision maker, evaluates the performance of operations, develops strategy and allocates resources. The results of our onshore pipeline transportation segment, formerly reported under its own segment, are now reported in our onshore facilities and transportation segment. The onshore facilities and transportation segment was formerly named our supply and logistics segment. This segment has been renamed in the second quarter of 2017 to more accurately describe the nature of its operations. This change is consistent with the increasingly integrated nature of our onshore operations. As a result of the above changes, we currently manage our businesses through four divisions that constitute our reportable segments - offshore pipeline transportation, refinery services, marine transportation, and onshore facilities and transportation. Our disclosures related to prior periods have been recast to reflect our reorganized segments. We currently manage our businesses through four divisions that constitute our reportable segments:
• | Offshore pipeline transportation – offshore pipeline transportation and processing of crude oil and natural gas in the Gulf of Mexico;
• | Refinery services – processing high sulfur (or “sour”) gas streams as part of refining operations to remove the sulfur and selling the related by-product, NaHS;
• | Marine transportation – marine transportation to provide waterborne transportation of petroleum products and crude oil throughout North America; and
• | Onshore facilities and transportation – terminaling, blending, storing, marketing and transporting crude oil, petroleum products (primarily fuel oil, asphalt, and other heavy refined products) and CO 2.
Substantially all of our revenues are derived from, and substantially all of our assets are located in, the United States. We define Segment Margin as revenues less product costs, operating expenses (excluding non-cash gains and charges, such as depreciation and amortization), and segment general and administrative expenses, plus our equity in distributable cash generated by our equity investees. In addition, our Segment Margin definition excludes the non-cash effects of our legacy stock appreciation rights plan and includes the non-income portion of payments received under direct financing leases. Our chief operating decision maker (our Chief Executive Officer) evaluates segment performance based on a variety of measures including Segment Margin, segment volumes, where relevant, and capital investment. Segment information for the periods presented below was as follows:
| Offshore Pipeline Transportation |  | Refinery Services |  | Marine Transportation |  | Onshore Facilities & Transportation |  | Total
Three Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Segment margin (a) | $ | 78,211 |  |  | $ | 16,337 |  |  | $ | 14,156 |  |  | $ | 25,296 |  |  | $ | 134,000 |
Capital expenditures (b) | $ | 3,903 |  |  | $ | 432 |  |  | $ | 11,132 |  |  | $ | 42,383 |  |  | $ | 57,850 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 78,577 |  |  | $ | 45,210 |  |  | $ | 49,311 |  |  | $ | 233,625 |  |  | $ | 406,723 |
Intersegment (c) | (939 | ) |  | (2,142 | ) |  | 3,891 |  |  | (810 | ) |  | — |
Total revenues of reportable segments | $ | 77,638 |  |  | $ | 43,068 |  |  | $ | 53,202 |  |  | $ | 232,815 |  |  | $ | 406,723 |
Three Months Ended June 30 2016 |  |  |  |  |  |  |  |  |
Segment margin (a) | $ | 84,282 |  |  | $ | 19,861 |  |  | $ | 18,082 |  |  | $ | 20,261 |  |  | $ | 142,486 |
Capital expenditures (b) | $ | 2,373 |  |  | $ | 832 |  |  | $ | 27,562 |  |  | $ | 84,754 |  |  | $ | 115,521 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 76,829 |  |  | $ | 43,618 |  |  | $ | 50,964 |  |  | $ | 274,565 |  |  | $ | 445,976 |
Intersegment (c) | 2,165 |  |  | (2,294 | ) |  | 1,645 |  |  | (1,516 | ) |  | — |
Total revenues of reportable segments | $ | 78,994 |  |  | $ | 41,324 |  |  | $ | 52,609 |  |  | $ | 273,049 |  |  | $ | 445,976 |
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Segment Margin (a) | $ | 165,300 |  |  | $ | 33,833 |  |  | $ | 27,119 |  |  | $ | 46,393 |  |  | $ | 272,645 |
Capital expenditures (b) | $ | 6,142 |  |  | $ | 945 |  |  | $ | 20,665 |  |  | $ | 89,085 |  |  | $ | 116,837 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 163,982 |  |  | $ | 92,481 |  |  | $ | 97,515 |  |  | $ | 468,236 |  |  | $ | 822,214 |
Intersegment (c) | (1,216 | ) |  | (4,367 | ) |  | 5,989 |  |  | (406 | ) |  | — |
Total revenues of reportable segments | $ | 162,766 |  |  | $ | 88,114 |  |  | $ | 103,504 |  |  | $ | 467,830 |  |  | $ | 822,214 |
Six Months Ended June 30, 2016 |  |  |  |  |  |  |  |  |
Segment Margin (a) | $ | 162,900 |  |  | $ | 41,060 |  |  | $ | 36,998 |  |  | $ | 46,409 |  |  | $ | 287,367 |
Capital expenditures (b) | $ | 31,198 |  |  | $ | 1,157 |  |  | $ | 35,991 |  |  | $ | 173,333 |  |  | $ | 241,679 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 152,955 |  |  | $ | 88,368 |  |  | $ | 101,624 |  |  | $ | 481,443 |  |  | $ | 824,390 |
Intersegment (c) | 2,165 |  |  | (4,508 | ) |  | 3,021 |  |  | (678 | ) |  | — |
Total revenues of reportable segments | $ | 155,120 |  |  | $ | 83,860 |  |  | $ | 104,645 |  |  | $ | 480,765 |  |  | $ | 824,390 |
Total assets by reportable segment were as follows:
| June 30, 2017 |  | December 31, 2016
Offshore pipeline transportation | $ | 2,514,688 |  |  | $ | 2,575,335 |
Refinery services | 391,208 |  |  | 395,043 |
Marine transportation | 798,835 |  |  | 813,722 |
Onshore facilities and transportation | 1,878,944 |  |  | 1,875,403 |
Other assets | 56,701 |  |  | 43,089 |
Total consolidated assets | 5,640,376 |  |  | 5,702,592 |
(a) | A reconciliation of total Segment Margin to net income attributable to Genesis Energy, L.P. for the periods is presented below.
(b) | Capital expenditures include maintenance and growth capital expenditures, such as fixed asset additions (including enhancements to existing facilities and construction of growth projects) as well as acquisitions of businesses and contributions to equity investees related to same.
(c) | Intersegment sales were conducted under terms that we believe were no more or less favorable than then-existing market conditions.
Reconciliation of total Segment Margin to net income:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Total Segment Margin | $ | 134,000 |  |  | $ | 142,486 |  |  | $ | 272,645 |  |  | $ | 287,367 |
Corporate general and administrative expenses | (7,137 | ) |  | (10,491 | ) |  | (15,464 | ) |  | (21,849 | )
Depreciation, amortization and accretion | (59,382 | ) |  | (62,213 | ) |  | (117,777 | ) |  | (111,388 | )
Interest expense | (37,990 | ) |  | (35,535 | ) |  | (74,729 | ) |  | (69,922 | )
Adjustment to exclude distributable cash generated by equity investees not included in income and include equity in investees net income (1) | (9,140 | ) |  | (11,141 | ) |  | (18,430 | ) |  | (21,755 | )
Non-cash items not included in Segment Margin | (1,867 | ) |  | 15 |  |  | (1,430 | ) |  | (4,359 | )
Cash payments from direct financing leases in excess of earnings | (1,709 | ) |  | (1,548 | ) |  | (3,376 | ) |  | (3,059 | )
Differences in timing of cash receipts for certain contractual arrangements (2) | 3,166 |  |  | 3,163 |  |  | 5,847 |  |  | 6,005 |
Gain on sale of assets | 26,684 |  |  | — |  |  | 26,684 |  |  | — |
Non-cash provision for leased items no longer in use | (12,589 | ) |  | — |  |  | (12,589 | ) |  | — |
Income tax expense | (303 | ) |  | (1,009 | ) |  | (558 | ) |  | (2,010 | )
Net income attributable to Genesis Energy, L.P. | $ | 33,733 |  |  | $ | 23,727 |  |  | $ | 60,823 |  |  | $ | 59,030 |
(1) | Includes distributions attributable to the quarter and received during or promptly following such quarter.
(2) | Certain cash payments received from customers under certain of our minimum payment obligation contracts are not recognized as revenue under GAAP in the period in which such payments are received.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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