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Business Segment Information
 12 Months Ended
Dec. 31, 2019
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 of high sulfur (or “sour”) gas streams for refineries to remove the sulfur, and selling the related by-product, NaHS;
•
Onshore facilities and transportation – terminaling, blending, storing, marketing, and transporting crude oil, petroleum products (primarily fuel oil, asphalt, and other heavy refined products), and CO2; 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 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 each year presented below is as follows:
 
Offshore Pipeline Transportation
 
Sodium Minerals & Sulfur Services
 
Onshore Facilities & Transportation
 
Marine Transportation
 
Total
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
Segment Margin (a)
$
320,023

 
$
223,908

 
$
111,412

 
$
57,919

 
$
713,262

Capital expenditures (b)
$
17,809

 
$
107,837

 
$
6,576

 
$
40,820

 
$
173,042

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
318,116

 
$
1,113,623

 
$
824,148

 
$
224,933

 
$
2,480,820

Intersegment (c)
—

 
(7,636
)
 
(3,076
)
 
10,712

 
$
—

Total revenues of reportable segments
$
318,116

 
$
1,105,987

 
$
821,072

 
$
235,645

 
$
2,480,820

Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
Segment Margin (a)
$
285,014

 
$
260,488

 
$
119,918

 
$
47,338

 
$
712,758

Capital expenditures (b)
$
4,703

 
$
74,712

 
$
51,110

 
$
30,868

 
$
161,393

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
284,544

 
$
1,181,578

 
$
1,240,382

 
$
206,266

 
$
2,912,770

Intersegment (c)
—

 
(7,144
)
 
(6,527
)
 
13,671

 
$
—

Total revenues of reportable segments
$
284,544

 
$
1,174,434

 
$
1,233,855

 
$
219,937

 
$
2,912,770

Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
Segment Margin (a)
$
317,540

 
$
130,333

 
$
96,376

 
$
50,294

 
$
594,543

Capital expenditures (b)
$
8,815

 
$
1,354,469

 
$
149,123

 
$
68,414

 
$
1,580,821

Revenues:
 
 
 
 
 
 
 
 


External customers
$
319,455

 
$
470,789

 
$
1,044,083

 
$
194,050

 
$
2,028,377

Intersegment (c)
(1,216
)
 
(8,167
)
 
(1,854
)
 
11,237

 
$
—

Total revenues of reportable segments
$
318,239

 
$
462,622

 
$
1,042,229

 
$
205,287

 
$
2,028,377

Total assets by reportable segment were as follows:
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Offshore pipeline transportation
$
2,306,946

 
$
2,359,013

 
$
2,486,803

Sodium minerals and sulfur services
2,019,905

 
1,844,845

 
1,848,188

Onshore facilities and transportation
1,457,190

 
1,431,910

 
1,927,976

Marine transportation
772,383

 
800,243

 
824,777

Other assets
41,217

 
43,060

 
49,737

Total consolidated assets
$
6,597,641

 
$
6,479,071

 
$
7,137,481


(a)
A reconciliation of total Segment Margin to net income (loss) attributable to Genesis Energy, L.P. for each year 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. In addition to construction of growth projects, capital spending in our sodium minerals and sulfur services segment included $1.3 billion during the year ended December 31, 2017 related to the acquisition of our Alkali Business.
(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 (loss) attributable to Genesis Energy, L.P.:
 
Year Ended December 31
 
2019
 
2018
 
2017
Total Segment Margin
$
713,262

 
$
712,758

 
$
594,543

Corporate general and administrative expenses
(52,755
)
 
(64,683
)
 
(60,029
)
Depreciation, depletion, amortization and accretion
(308,115
)
 
(317,186
)
 
(262,021
)
Interest expense
(219,440
)
 
(229,191
)
 
(176,762
)
Adjustment to exclude distributable cash generated by equity investees not included in income and include equity in investees net income (1)
(20,847
)
 
(28,088
)
 
(31,852
)
Non-cash items not included in Segment Margin
(14,642
)
 
9,698

 
(14,305
)
Cash payments from direct financing leases in excess of earnings
(8,421
)
 
(7,633
)
 
(6,921
)
Loss on extinguishment of debt
—

 
(3,339
)
 
(6,242
)
Differences in timing of cash receipts for certain contractual arrangements (2)
8,478

 
6,629

 
17,540

Gain on sales of assets
—

 
42,264

 
40,311

Other, net
—

 
—

 
(2,985
)
Non-cash provision for leased items no longer in use
1,367

 
476

 
(12,589
)
Income tax (expense) benefit
(655
)
 
(1,498
)
 
3,959

Redeemable noncontrolling interest redemption value adjustments(3)
(2,233
)
 
—

 
—

Impairment expense
—

 
(126,282
)
 
—

Net income (loss) attributable to Genesis Energy, L.P.
$
95,999

 
$
(6,075
)
 
$
82,647

(1)
Includes distributions attributable to the period and received during or promptly following such period.
(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.
(3)
Includes distributions paid in kind attributable to the period and accretion on the redemption feature.