Exit of Butane Optimization Business

6 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

EXIT OF BUTANE OPTIMIZATION BUSINESS

During the second quarter of 2023, the Partnership completed its previously announced exit of its butane optimization business at the conclusion of the butane selling season. This exit did not qualify as discontinued operations in accordance with ASC 205. Going forward, with respect to butane, the Partnership will operate as a fee-based butane logistics business, primarily continuing to utilize its north Louisiana underground storage assets, which have both truck and rail capability. This logistics business will also utilize the Partnership's truck transportation assets for fee-based product movements. As a result of this new business model, the Partnership will no longer carry butane inventory, enabling the Partnership to reduce commodity risk exposure, cash flow and earnings volatility, and working capital requirements. The following revenues and costs, which are included in the financial results for all periods presented, are not expected to be incurred under the new fee-based butane logistics business model. The butane optimization business has historically been included in the Partnership's Specialty Products operating segment.


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Products revenue	$	13,650	$	31,264	$	70,539	$	88,447
Cost of products sold	16,074		32,135		72,282		82,414
Selling, general and administrative expenses	140		71		512		1,281
	$	(2,564)	$	(942)	$	(2,255)	$	4,752