XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.22.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2022
Leases [Abstract] |
Leases | LEASES The Partnership has numerous operating leases primarily for terminal facilities and transportation and other equipment. The leases generally provide that all expenses related to the equipment are to be paid by the lessee. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Partnership's leases do not provide an implicit rate of return, the Partnership uses its imputed collateralized rate based on the information available at commencement date in determining the present value of lease payments. The estimated rate is based on a risk-free rate plus a risk-adjusted margin. The Partnership's leases have remaining lease terms of 1 year to 14 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year. The Partnership includes extension periods and excludes termination periods from its lease term if, at commencement, it is reasonably likely that the Partnership will exercise the option. The components of lease expense for the years ended December 31, 2022, 2021, and 2020 were as follows:
| 2022 |  | 2021 |  | 2020
Operating lease cost | $ | 10,752 |  |  | $ | 9,266 |  |  | $ | 10,672 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 92 |  |  | 164 |  |  | 1,755 |
Interest on lease liabilities | 9 |  |  | 26 |  |  | 294 |
Short-term lease cost | 11,546 |  |  | 10,290 |  |  | 13,187 |
Variable lease cost | 185 |  |  | 115 |  |  | 109 |
Total lease cost | $ | 22,584 |  |  | $ | 19,861 |  |  | $ | 26,017 |
Supplemental cash flow information for the years ended December 31, 2022, 2021, and 2020 related to leases were as follows:
| 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 20,153 |  |  | $ | 19,678 |  |  | $ | 23,996 |
Operating cash flows from finance leases | 9 |  |  | 26 |  |  | 294 |
Financing cash flows from finance leases | 279 |  |  | 2,707 |  |  | 4,562 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 22,433 |  |  | $ | 7,668 |  |  | $ | 7,779 |
Finance leases | — |  |  | — |  |  | 83 |
Supplemental balance sheet information related to leases was as follows at December 31, 2022 and 2021:
| 2022 |  | 2021
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 34,963 |  |  | $ | 21,861 |
Current portion of operating lease liabilities included in "Other accrued liabilities" | $ | 9,084 |  |  | $ | 6,600 |
Operating lease liabilities | 26,268 |  |  | 15,704 |
Total operating lease liabilities | $ | 35,352 |  |  | $ | 22,304 |
Finance Leases |  |  |
Property, plant and equipment, at cost | $ | 83 |  |  | $ | 1,071 |
Accumulated depreciation | (44) |  |  | (364) |
Property, plant and equipment, net | $ | 39 |  |  | $ | 707 |
Current installments of finance lease obligations | $ | 9 |  |  | $ | 280 |
Finance lease obligations | 0 |  |  | 9 |
Total finance lease obligations | $ | 9 |  |  | $ | 289 |
Weighted Average Remaining Lease Term (years) |  |  |
Operating leases | 5.74 |  | 6.46
Finance leases | 0.41 |  | 0.97
Weighted Average Discount Rate |  |  |
Operating leases | 5.24 | % |  | 4.96 | %
Finance leases | 3.61 | % |  | 5.74 | %
The Partnership’s future minimum lease obligations as of December 31, 2022 consist of the following:
| Operating Leases |  | Finance Leases
Year 1 | $ | 12,151 |  |  | $ | 9 |
Year 2 | 9,726 |  |  | — |
Year 3 | 8,034 |  |  | — |
Year 4 | 5,610 |  |  | — |
Year 5 | 3,182 |  |  | — |
Thereafter | 7,053 |  |  | — |
Total | 45,756 |  |  | 9 |
Less amounts representing interest costs | (10,404) |  |  | — |
Total lease liability | $ | 35,352 |  |  | $ | 9 |
As of December 31, 2022, we have additional operating leases for land, buildings and equipment that have not yet commenced of $4,040. These operating leases will commence during the first quarter of 2023 with lease terms of 3 to 5 years. The Partnership has non-cancelable revenue arrangements that are under the scope of ASC 842 whereby we have committed certain terminalling and storage assets in exchange for a minimum fee. Future minimum revenues the Partnership expects to receive under these non-cancelable arrangements as of December 31, 2022 are as follows: 2023 - $21,294; 2024 - $15,459; 2025 - $14,877; 2026 - $8,997; 2027 - $8,300; subsequent years - $24,636.
Leases | LEASES The Partnership has numerous operating leases primarily for terminal facilities and transportation and other equipment. The leases generally provide that all expenses related to the equipment are to be paid by the lessee. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Partnership's leases do not provide an implicit rate of return, the Partnership uses its imputed collateralized rate based on the information available at commencement date in determining the present value of lease payments. The estimated rate is based on a risk-free rate plus a risk-adjusted margin. The Partnership's leases have remaining lease terms of 1 year to 14 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year. The Partnership includes extension periods and excludes termination periods from its lease term if, at commencement, it is reasonably likely that the Partnership will exercise the option. The components of lease expense for the years ended December 31, 2022, 2021, and 2020 were as follows:
| 2022 |  | 2021 |  | 2020
Operating lease cost | $ | 10,752 |  |  | $ | 9,266 |  |  | $ | 10,672 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 92 |  |  | 164 |  |  | 1,755 |
Interest on lease liabilities | 9 |  |  | 26 |  |  | 294 |
Short-term lease cost | 11,546 |  |  | 10,290 |  |  | 13,187 |
Variable lease cost | 185 |  |  | 115 |  |  | 109 |
Total lease cost | $ | 22,584 |  |  | $ | 19,861 |  |  | $ | 26,017 |
Supplemental cash flow information for the years ended December 31, 2022, 2021, and 2020 related to leases were as follows:
| 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 20,153 |  |  | $ | 19,678 |  |  | $ | 23,996 |
Operating cash flows from finance leases | 9 |  |  | 26 |  |  | 294 |
Financing cash flows from finance leases | 279 |  |  | 2,707 |  |  | 4,562 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 22,433 |  |  | $ | 7,668 |  |  | $ | 7,779 |
Finance leases | — |  |  | — |  |  | 83 |
Supplemental balance sheet information related to leases was as follows at December 31, 2022 and 2021:
| 2022 |  | 2021
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 34,963 |  |  | $ | 21,861 |
Current portion of operating lease liabilities included in "Other accrued liabilities" | $ | 9,084 |  |  | $ | 6,600 |
Operating lease liabilities | 26,268 |  |  | 15,704 |
Total operating lease liabilities | $ | 35,352 |  |  | $ | 22,304 |
Finance Leases |  |  |
Property, plant and equipment, at cost | $ | 83 |  |  | $ | 1,071 |
Accumulated depreciation | (44) |  |  | (364) |
Property, plant and equipment, net | $ | 39 |  |  | $ | 707 |
Current installments of finance lease obligations | $ | 9 |  |  | $ | 280 |
Finance lease obligations | 0 |  |  | 9 |
Total finance lease obligations | $ | 9 |  |  | $ | 289 |
Weighted Average Remaining Lease Term (years) |  |  |
Operating leases | 5.74 |  | 6.46
Finance leases | 0.41 |  | 0.97
Weighted Average Discount Rate |  |  |
Operating leases | 5.24 | % |  | 4.96 | %
Finance leases | 3.61 | % |  | 5.74 | %
The Partnership’s future minimum lease obligations as of December 31, 2022 consist of the following:
| Operating Leases |  | Finance Leases
Year 1 | $ | 12,151 |  |  | $ | 9 |
Year 2 | 9,726 |  |  | — |
Year 3 | 8,034 |  |  | — |
Year 4 | 5,610 |  |  | — |
Year 5 | 3,182 |  |  | — |
Thereafter | 7,053 |  |  | — |
Total | 45,756 |  |  | 9 |
Less amounts representing interest costs | (10,404) |  |  | — |
Total lease liability | $ | 35,352 |  |  | $ | 9 |
As of December 31, 2022, we have additional operating leases for land, buildings and equipment that have not yet commenced of $4,040. These operating leases will commence during the first quarter of 2023 with lease terms of 3 to 5 years. The Partnership has non-cancelable revenue arrangements that are under the scope of ASC 842 whereby we have committed certain terminalling and storage assets in exchange for a minimum fee. Future minimum revenues the Partnership expects to receive under these non-cancelable arrangements as of December 31, 2022 are as follows: 2023 - $21,294; 2024 - $15,459; 2025 - $14,877; 2026 - $8,997; 2027 - $8,300; subsequent years - $24,636.
Leases | LEASES The Partnership has numerous operating leases primarily for terminal facilities and transportation and other equipment. The leases generally provide that all expenses related to the equipment are to be paid by the lessee. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Partnership's leases do not provide an implicit rate of return, the Partnership uses its imputed collateralized rate based on the information available at commencement date in determining the present value of lease payments. The estimated rate is based on a risk-free rate plus a risk-adjusted margin. The Partnership's leases have remaining lease terms of 1 year to 14 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year. The Partnership includes extension periods and excludes termination periods from its lease term if, at commencement, it is reasonably likely that the Partnership will exercise the option. The components of lease expense for the years ended December 31, 2022, 2021, and 2020 were as follows:
| 2022 |  | 2021 |  | 2020
Operating lease cost | $ | 10,752 |  |  | $ | 9,266 |  |  | $ | 10,672 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 92 |  |  | 164 |  |  | 1,755 |
Interest on lease liabilities | 9 |  |  | 26 |  |  | 294 |
Short-term lease cost | 11,546 |  |  | 10,290 |  |  | 13,187 |
Variable lease cost | 185 |  |  | 115 |  |  | 109 |
Total lease cost | $ | 22,584 |  |  | $ | 19,861 |  |  | $ | 26,017 |
Supplemental cash flow information for the years ended December 31, 2022, 2021, and 2020 related to leases were as follows:
| 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 20,153 |  |  | $ | 19,678 |  |  | $ | 23,996 |
Operating cash flows from finance leases | 9 |  |  | 26 |  |  | 294 |
Financing cash flows from finance leases | 279 |  |  | 2,707 |  |  | 4,562 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 22,433 |  |  | $ | 7,668 |  |  | $ | 7,779 |
Finance leases | — |  |  | — |  |  | 83 |
Supplemental balance sheet information related to leases was as follows at December 31, 2022 and 2021:
| 2022 |  | 2021
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 34,963 |  |  | $ | 21,861 |
Current portion of operating lease liabilities included in "Other accrued liabilities" | $ | 9,084 |  |  | $ | 6,600 |
Operating lease liabilities | 26,268 |  |  | 15,704 |
Total operating lease liabilities | $ | 35,352 |  |  | $ | 22,304 |
Finance Leases |  |  |
Property, plant and equipment, at cost | $ | 83 |  |  | $ | 1,071 |
Accumulated depreciation | (44) |  |  | (364) |
Property, plant and equipment, net | $ | 39 |  |  | $ | 707 |
Current installments of finance lease obligations | $ | 9 |  |  | $ | 280 |
Finance lease obligations | 0 |  |  | 9 |
Total finance lease obligations | $ | 9 |  |  | $ | 289 |
Weighted Average Remaining Lease Term (years) |  |  |
Operating leases | 5.74 |  | 6.46
Finance leases | 0.41 |  | 0.97
Weighted Average Discount Rate |  |  |
Operating leases | 5.24 | % |  | 4.96 | %
Finance leases | 3.61 | % |  | 5.74 | %
The Partnership’s future minimum lease obligations as of December 31, 2022 consist of the following:
| Operating Leases |  | Finance Leases
Year 1 | $ | 12,151 |  |  | $ | 9 |
Year 2 | 9,726 |  |  | — |
Year 3 | 8,034 |  |  | — |
Year 4 | 5,610 |  |  | — |
Year 5 | 3,182 |  |  | — |
Thereafter | 7,053 |  |  | — |
Total | 45,756 |  |  | 9 |
Less amounts representing interest costs | (10,404) |  |  | — |
Total lease liability | $ | 35,352 |  |  | $ | 9 |
As of December 31, 2022, we have additional operating leases for land, buildings and equipment that have not yet commenced of $4,040. These operating leases will commence during the first quarter of 2023 with lease terms of 3 to 5 years. The Partnership has non-cancelable revenue arrangements that are under the scope of ASC 842 whereby we have committed certain terminalling and storage assets in exchange for a minimum fee. Future minimum revenues the Partnership expects to receive under these non-cancelable arrangements as of December 31, 2022 are as follows: 2023 - $21,294; 2024 - $15,459; 2025 - $14,877; 2026 - $8,997; 2027 - $8,300; subsequent years - $24,636.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration