Our reportable segments are strategic business units that offer different products and services. Our segments are managed separately as each segment requires different marketing strategies and business knowledge. Management evaluates performance based on segment operating margin, which is calculated in the tables below.

We believe that investors benefit from having access to the same financial measures used by management. Operating margin, which is presented in the following tables, is an important measure used by management to evaluate the economic performance of our core operations. Operating margin is not a GAAP measure, but the components of operating margin are computed using amounts that are determined in accordance with GAAP. A reconciliation of operating margin to operating profit, which is its nearest comparable GAAP financial measure, is included in the tables below (presented in thousands). Operating profit includes depreciation, amortization and impairment expense and general and administrative (“G&A”) expense that management does not consider when evaluating the core profitability of our separate operating segments.



	Three Months Ended June 30, 2018
	Refined Products		Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation and terminals revenue	$	291,064	$	137,953		$	44,146		$	(915	)	$	472,248
Product sales revenue	150,934		13,282			2,581			—			166,797
Affiliate management fee revenue	352		3,849			845			—			5,046
Total revenue	442,350		155,084			47,572			(915		)	644,091
Operating expenses	113,342		31,177			17,693			(2,367		)	159,845
Cost of product sales	137,543		13,761			2,375			—			153,679
(Earnings) losses of non-controlled entities	97		(41,851		)	(756		)	—			(42,510		)
Operating margin	191,368		151,997			28,260			1,452			373,077
Depreciation, amortization and impairment expense	30,508		12,741			8,918			1,452			53,619
G&A expense	33,187		13,455			6,648			—			53,290
Operating profit	$	127,673	$	125,801		$	12,694		$	—		$	266,168



	Three Months Ended June 30, 2019
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation and terminals revenue	$	306,215		$	155,569		$	45,962		$	(1,341	)	$	506,405
Product sales revenue	183,211			5,295			1,483			—			189,989
Affiliate management fee revenue	470			3,646			1,189			—			5,305
Total revenue	489,896			164,510			48,634			(1,341		)	701,699
Operating expenses	115,811			37,217			18,586			(2,685		)	168,929
Cost of product sales	146,516			4,710			1,650			—			152,876
Other operating (income) expense	(738		)	6,056			(294		)	—			5,024
(Earnings) losses of non-controlled entities	4,218			(43,735		)	(1,268		)	—			(40,785		)
Operating margin	224,089			160,262			29,960			1,344			415,655
Depreciation, amortization and impairment expense	34,738			15,743			10,705			1,344			62,530
G&A expense	31,020			14,097			7,266			—			52,383
Operating profit	$	158,331		$	130,422		$	11,989		$	—		$	300,742



	Six Months Ended June 30, 2018
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation and terminals revenue	$	551,458		$	264,211		$	90,346		$	(1,830	)	$	904,185
Product sales revenue	383,708			19,721			4,960			—			408,389
Affiliate management fee revenue	649			7,865			1,782			—			10,296
Total revenue	935,815			291,797			97,088			(1,830		)	1,322,870
Operating expenses	207,391			64,768			35,657			(4,675		)	303,141
Cost of product sales	327,876			20,811			4,584			—			353,271
Earnings of non-controlled entities	(2,221		)	(73,459		)	(1,368		)	—			(77,048		)
Operating margin	402,769			279,677			58,215			2,845			743,506
Depreciation, amortization and impairment expense	59,415			25,503			17,735			2,845			105,498
G&A expense	62,074			25,361			12,411			—			99,846
Operating profit	$	281,280		$	228,813		$	28,069		$	—		$	538,162



	Six Months Ended June 30, 2019
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation and terminals revenue	$	573,220		$	303,177		$	93,079		$	(2,279	)	$	967,197
Product sales revenue	338,367			11,008			3,609			—			352,984
Affiliate management fee revenue	882			7,132			2,439			—			10,453
Total revenue	912,469			321,317			99,127			(2,279		)	1,330,634
Operating expenses	205,489			81,040			33,483			(5,058		)	314,954
Cost of product sales	306,670			11,374			3,926			—			321,970
Other operating (income) expense	(1,352		)	4,483			(5,048		)	—			(1,917		)
(Earnings) losses of non-controlled entities	5,648			(76,037		)	(1,651		)	—			(72,040		)
Operating margin	396,014			300,457			68,417			2,779			767,667
Depreciation, amortization and impairment expense	70,272			31,002			20,348			2,779			124,401
G&A expense	58,735			26,712			12,931			—			98,378
Operating profit	$	267,007		$	242,743		$	35,138		$	—		$	544,888