Revenue |
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| Revenue | (8) Revenue The following table presents the Partnership’s revenue, disaggregated by major products:
(1)Consists mainly of freight revenue and includes sales of carbon oxide (“CO”) made in connection with the joint venture created to monetize certain tax credits under Section 45Q of the Internal Revenue Code of 1986 (“45Q Transaction”), as well as the noncash consideration received, which is recognized as the performance obligation associated with the carbon oxide contract (“CO Contract”) is satisfied over its term through April 2030. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. Remaining Performance Obligations The Partnership has spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). The Partnership does not disclose remaining performance obligations for contracts that have terms of one year or less and for contracts where the variable consideration was entirely allocated to an unsatisfied performance obligation. As of June 30, 2025, the Partnership had approximately $6.3 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Partnership expects to recognize $2.8 million of these performance obligations as revenue by the end of 2025, an additional $3.2 million in 2026, and the remaining balance in 2027. Contract Balances During the six months ended June 30, 2025 and 2024, the Partnership recognized revenue of $47.3 million and $12.5 million, respectively, that was included in the deferred revenue balances as of December 31, 2024 and December 31, 2023, respectively. |
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