v3.19.1

Revenue from Contract with Customers (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Products and Services

The following tables provide details of our revenues disaggregated by key activities that comprise our performance obligations by operating segment (in thousands):

		Three Months Ended March 31, 2018
		Refined Products				Crude Oil				Marine Storage				Intersegment Eliminations				Total
Transportation		$	166,902			$	79,123			$	—			$	—			$	246,025
Terminalling		39,348				—				712				—				40,060
Storage		25,247				29,990				34,211				(915		)		88,533
Ancillary services		25,788				5,035				7,034				—				37,857
Lease revenue		3,109				12,110				4,243				—				19,462
Transportation and terminals revenue		260,394				126,258				46,200				(915		)		431,937
Product sales revenue		232,774				6,439				2,379				—				241,592
Affiliate management fee revenue		297				4,016				937				—				5,250
Total revenue		493,465				136,713				49,516				(915		)		678,779
Revenue not under the guidance of ASC 606:
Lease revenue(1)		(3,109		)		(12,110		)		(4,243		)		—				(19,462		)
Losses from futures contracts included in product sales revenue(2)		5,465				1,910				—				—				7,375
Affiliate management fee revenue		(297		)		(4,016		)		(937		)		—				(5,250		)
Total revenue from contracts with customers under ASC 606		$	495,524			$	122,497			$	44,336			$	(915	)		$	661,442

⁽¹⁾ Lease revenue in 2018 is accounted for under ASC 840, Leases.

⁽²⁾ The impact on product sales revenue from futures contracts falls under the guidance of ASC 815, Derivatives and Hedging.

		Three Months Ended March 31, 2019
		Refined Products				Crude Oil				Marine Storage				Intersegment Eliminations				Total
Transportation		$	171,027			$	85,158			$	—			$	—			$	256,185
Terminalling		40,398				5,246				899				—				46,543
Storage		26,439				34,318				35,218				(938		)		95,037
Ancillary services		25,896				6,021				6,885				—				38,802
Lease revenue		3,245				16,865				4,115				—				24,225
Transportation and terminals revenue		267,005				147,608				47,117				(938		)		460,792
Product sales revenue		155,156				5,713				2,126				—				162,995
Affiliate management fee revenue		412				3,486				1,250				—				5,148
Total revenue		422,573				156,807				50,493				(938		)		628,935
Revenue not under the guidance of ASC 606:
Lease revenue(1)		(3,245		)		(16,865		)		(4,115		)		—				(24,225		)
Losses from futures contracts included in product sales revenue(2)		52,109				2,402				—				—				54,511
Affiliate management fee revenue		(412		)		(3,486		)		(1,250		)		—				(5,148		)
Total revenue from contracts with customers under ASC 606		$	471,025			$	138,858			$	45,128			$	(938	)		$	654,073

⁽¹⁾ Lease revenue in 2019 is accounted for under ASC 842, Leases.

⁽²⁾ The impact on product sales revenue from futures contracts falls under the guidance of ASC 815, Derivatives and Hedging.

Contract with Customer, Asset and Liability

The following table summarizes our accounts receivable, contract assets and contract liabilities resulting from contracts with customers (in thousands):

		December 31, 2018				March 31, 2019
Accounts receivable from contracts with customers		$	102,684			$	130,257
Contract assets		$	8,487			$	8,618
Contract liabilities		$	122,129			$	124,439

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table provides the aggregate amount of the transaction price allocated to our unfulfilled performance obligations (“UPOs”) as of March 31, 2019 by operating segment, including the range of years remaining on our contracts with customers and an estimate of revenues expected to be recognized over the next 12 months (dollars in thousands):

		Refined Products				Crude Oil				Marine Storage				Total
Balances at 3/31/2019		$	2,082,007			$	1,270,411			$	239,820			$	3,592,238
Remaining terms		1 - 19 years				1 - 10 years				1 - 5 years
Estimated revenues from UPOs to be recognized in the next 12 months		$	289,218			$	327,365			$	115,727			$	732,310

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Tabular disclosure of contract balances and changes in contract balances.

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- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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