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Business Segment Information | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information We currently manage our businesses through four divisions that constitute our reportable segments:
• | Offshore pipeline transportation – offshore transportation of crude oil and natural gas in the Gulf of Mexico;
• | Sodium minerals and sulfur services – trona and trona-based exploring, mining, processing, producing, marketing and selling activities, as well as processing high sulfur (or “sour”) gas streams for refineries to remove the sulfur, and selling the related by-product, NaHS;
• | Onshore facilities and transportation – terminalling, blending, storing, marketing and transporting crude oil, petroleum products (primarily fuel oil, asphalt, and other heavy refined products) and CO 2 ;and
• | Marine transportation – marine transportation to provide waterborne transportation of petroleum products and crude oil throughout North America.
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, depletion 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 long-term incentive compensation 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 |  | Sodium Minerals & Sulfur Services |  | Onshore Facilities & Transportation |  | Marine Transportation |  | Total
Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |
Segment margin (a) | $ | 71,602 |  |  | $ | 64,542 |  |  | $ | 25,744 |  |  | $ | 11,966 |  |  | $ | 173,854 |
Capital expenditures (b) | $ | 1,447 |  |  | $ | 18,560 |  |  | $ | 12,570 |  |  | $ | 9,814 |  |  | 42,391 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 69,969 |  |  | $ | 300,928 |  |  | $ | 328,134 |  |  | $ | 53,357 |  |  | $ | 752,388 |
Intersegment (c) | — |  |  | (2,047 | ) |  | (781 | ) |  | 2,828 |  |  | — |
Total revenues of reportable segments | $ | 69,969 |  |  | $ | 298,881 |  |  | $ | 327,353 |  |  | $ | 56,185 |  |  | $ | 752,388 |
Three Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Segment margin (a) | $ | 78,211 |  |  | $ | 16,337 |  |  | $ | 25,296 |  |  | $ | 14,156 |  |  | $ | 134,000 |
Capital expenditures (b) | $ | 3,903 |  |  | $ | 432 |  |  | $ | 42,383 |  |  | $ | 11,132 |  |  | 57,850 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 78,577 |  |  | $ | 45,210 |  |  | $ | 233,625 |  |  | $ | 49,311 |  |  | $ | 406,723 |
Intersegment (c) | (939 | ) |  | (2,142 | ) |  | (810 | ) |  | 3,891 |  |  | — |
Total revenues of reportable segments | $ | 77,638 |  |  | $ | 43,068 |  |  | $ | 232,815 |  |  | $ | 53,202 |  |  | $ | 406,723 |
Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |
Segment Margin (a) | $ | 144,775 |  |  | $ | 128,933 |  |  | $ | 47,433 |  |  | $ | 22,953 |  |  | $ | 344,094 |
Capital expenditures (b) | $ | 2,101 |  |  | $ | 28,259 |  |  | $ | 35,859 |  |  | $ | 20,679 |  |  | 86,898 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 143,229 |  |  | $ | 588,331 |  |  | $ | 648,349 |  |  | $ | 98,287 |  |  | 1,478,196 |
Intersegment (c) | — |  |  | (3,540 | ) |  | (3,287 | ) |  | 6,827 |  |  | — |
Total revenues of reportable segments | $ | 143,229 |  |  | $ | 584,791 |  |  | $ | 645,062 |  |  | $ | 105,114 |  |  | $ | 1,478,196 |
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Segment Margin (a) | $ | 165,300 |  |  | $ | 33,833 |  |  | $ | 46,393 |  |  | $ | 27,119 |  |  | $ | 272,645 |
Capital expenditures (b) | $ | 6,142 |  |  | $ | 945 |  |  | $ | 89,085 |  |  | $ | 20,665 |  |  | 116,837 |
Revenues: |  |  |  |  |  |  |  |  |
External customers | $ | 163,982 |  |  | $ | 92,481 |  |  | $ | 468,236 |  |  | $ | 97,515 |  |  | 822,214 |
Intersegment (c) | (1,216 | ) |  | (4,367 | ) |  | (406 | ) |  | 5,989 |  |  | — |
Total revenues of reportable segments | $ | 162,766 |  |  | $ | 88,114 |  |  | $ | 467,830 |  |  | $ | 103,504 |  |  | $ | 822,214 |
Total assets by reportable segment were as follows:
| June 30, 2018 |  | December 31, 2017
Offshore pipeline transportation | $ | 2,451,743 |  |  | $ | 2,486,803 |
Sodium minerals and sulfur services | 1,850,695 |  |  | 1,848,188 |
Onshore facilities and transportation | 1,891,988 |  |  | 1,927,976 |
Marine transportation | 815,858 |  |  | 824,777 |
Other assets | 47,348 |  |  | 49,737 |
Total consolidated assets | $ | 7,057,632 |  |  | $ | 7,137,481 |
(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,
| 2018 |  | 2017 |  | 2018 |  | 2017
Total Segment Margin | $ | 173,854 |  |  | $ | 134,000 |  |  | $ | 344,094 |  |  | $ | 272,645 |
Corporate general and administrative expenses | (13,466 | ) |  | (7,137 | ) |  | (23,926 | ) |  | (15,464 | )
Depreciation, depletion, amortization and accretion | (79,862 | ) |  | (59,382 | ) |  | (157,870 | ) |  | (117,777 | )
Interest expense | (57,909 | ) |  | (37,990 | ) |  | (114,045 | ) |  | (74,729 | )
Adjustment to exclude distributable cash generated by equity investees not included in income and include equity in investees net income (1) | (10,037 | ) |  | (9,140 | ) |  | (19,094 | ) |  | (18,430 | )
Non-cash items not included in Segment Margin | (638 | ) |  | (1,867 | ) |  | (6,775 | ) |  | (1,430 | )
Cash payments from direct financing leases in excess of earnings | (1,884 | ) |  | (1,709 | ) |  | (3,723 | ) |  | (3,376 | )
Loss on extinguishment of debt | — |  |  | — |  |  | (3,339 | ) |  | — |
Differences in timing of cash receipts for certain contractual arrangements (2) | 1,148 |  |  | 3,166 |  |  | 4,479 |  |  | 5,847 |
Gain on sale of assets | — |  |  | 26,684 |  |  | — |  |  | 26,684 |
Non-cash provision for leased items no longer in use | 47 |  |  | (12,589 | ) |  | (139 | ) |  | (12,589 | )
Income tax expense | (256 | ) |  | (303 | ) |  | (631 | ) |  | (558 | )
Net income attributable to Genesis Energy, L.P. | $ | 10,997 |  |  | $ | 33,733 |  |  | $ | 19,031 |  |  | $ | 60,823 |
(1) | Includes distributions attributable to the quarter and received during or promptly following such quarter.
(2) | Includes the difference in timing of cash receipts from customers during the period and the revenue we recognize in accordance with GAAP on our related contracts.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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