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Revenue Recognition | 3 Months Ended
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Mar. 31, 2019
Revenue Recognition [Abstract] |
Revenue Recognition | Revenue Recognition Revenue from Contracts with Customers The following tables reflect the disaggregation of our revenues by major category for the three months ended March 31, 2019 and March 31, 2018, respectively:
| Three Months Ended March 31, 2019
| Onshore Facilities & Transportation |  | Sodium Minerals & Sulfur Services |  | Offshore Pipeline Transportation |  | Marine Transportation |  | Consolidated
Fee-based revenues | $ | 38,012 |  |  | $ | — |  |  | $ | 78,317 |  |  | $ | 56,650 |  |  | $ | 172,979 |
Product Sales | 171,544 |  |  | 257,843 |  |  | — |  |  | — |  |  | 429,387 |
Refinery Services | — |  |  | 17,643 |  |  | — |  |  | — |  |  | 17,643 |
| $ | 209,556 |  |  | $ | 275,486 |  |  | $ | 78,317 |  |  | $ | 56,650 |  |  | $ | 620,009 |
| Three Months Ended March 31, 2018
| Onshore Facilities & Transportation |  | Sodium Minerals & Sulfur Services |  | Offshore Pipeline Transportation |  | Marine Transportation |  | Consolidated
Fee-based revenues | $ | 30,338 |  |  | $ | — |  |  | $ | 73,260 |  |  | $ | 48,929 |  |  | $ | 152,527 |
Product Sales | 287,371 |  |  | 263,965 |  |  | — |  |  | — |  |  | 551,336 |
Refinery Services | — |  |  | 21,945 |  |  | — |  |  | — |  |  | 21,945 |
| $ | 317,709 |  |  | $ | 285,910 |  |  | $ | 73,260 |  |  | $ | 48,929 |  |  | $ | 725,808 |
The Company recognizes revenue upon the satisfaction of its performance obligations under its contracts. The timing of revenue recognition varies for our different revenue streams. In general, the timing includes recognition of revenue over time as services are being performed as well as recognition of revenue at a point in time, for delivery of products. Contract Assets and Liabilities The table below depicts our contract asset and liability balances at December 31, 2018 and March 31, 2019:
| Contract Assets |  | Contract Liabilities
| Current |  | Non-Current |  | Non-Current
Balance at December 31, 2018 | $ | — |  |  | $ | 72,241 |  |  | $ | 26,271 |
Balance at March 31, 2019 | 3,456 |  |  | 73,584 |  |  | 27,684 |
During the three months ended March 31, 2019, there were no balances that were previously classified as contract liabilities at the beginning of the period that were recognized as revenues. Accounts receivable-trade, net does not include consideration received in kind from our refinery services process. We did not have any material contract modifications during the period that would affect our contract asset and liability balances. Transaction Price Allocations to Remaining Performance Obligations We are required to disclose the amount of our transaction prices that are allocated to unsatisfied performance obligations as of March 31, 2019. However, ASC 606 does provide the following practical expedients and exemptions that we utilized:
1) | Performance obligations that are part of a contract with an expected duration of one year or less;
2) | Revenue recognized from the satisfaction of performance obligations where we have a right to consideration in an amount that corresponds directly with the value provided to customers; and
3) | Contracts that contain variable consideration, such as index-based pricing or variable volumes, that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that is part of a series.
We apply these practical expedients and exemptions to our revenue streams recognized over time. The majority of our contracts qualify for one of these expedients or exemptions. After considering these practical expedients and identifying the remaining contract types that involve revenue recognition over a long-term period and include long-term fixed consideration (adjusted for indexing as required), we determined our allocations of transaction price that relate to unsatisfied performance obligations. As it relates to our tiered pricing offshore transportation contracts, we provide firm capacity for both fixed and variable consideration over a long term period. Therefore, we have allocated the remaining contract value (as estimated and discussed above) to future periods. The following chart depicts how we expect to recognize revenues for future periods related to these contracts:
| Offshore Pipeline Transportation | Onshore Facilities and Transportation
Remainder of 2019 | $ | 67,074 |  | $ | 48,393 |
2020 | 54,414 |  | 57,090 |
2021 | 37,806 |  | 20,139 |
2022 | 26,170 |  | 4,283 |
2023 | 15,518 |  | — |
Thereafter | 123,665 |  | — |
Total | $ | 324,647 |  | $ | 129,905 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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