v3.19.3

Revenue from Contract with Customers | 9 Months Ended
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Sep. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer | Revenue from Contracts with Customers Statement of Income Disclosures 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 September 30, 2018
|  | Refined Products |  | Crude Oil |  | Marine Storage |  | Intersegment Eliminations |  | Total
Transportation |  | $ | 197,235 |  |  | $ | 91,086 |  |  | $ | — |  |  | $ | — |  |  | $ | 288,321 |
Terminalling |  | 46,213 |  |  | 2,528 |  |  | 616 |  |  | — |  |  | 49,357 |
Storage |  | 25,137 |  |  | 29,094 |  |  | 33,890 |  |  | (923 | ) |  | 87,198 |
Ancillary services |  | 28,808 |  |  | 6,278 |  |  | 5,857 |  |  | — |  |  | 40,943 |
Lease revenue |  | 2,641 |  |  | 16,132 |  |  | 4,183 |  |  | — |  |  | 22,956 |
Transportation and terminals revenue |  | 300,034 |  |  | 145,118 |  |  | 44,546 |  |  | (923 | ) |  | 488,775 |
Product sales revenue |  | 129,926 |  |  | 12,666 |  |  | 1,811 |  |  | — |  |  | 144,403 |
Affiliate management fee revenue |  | 351 |  |  | 3,463 |  |  | 1,028 |  |  | — |  |  | 4,842 |
Total revenue |  | 430,311 |  |  | 161,247 |  |  | 47,385 |  |  | (923 | ) |  | 638,020 |
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: |  |  |  |  |  |  |  |  |  |
Lease revenue(1) |  | (2,641 | ) |  | (16,132 | ) |  | (4,183 | ) |  | — |  |  | (22,956 | )
Losses from futures contracts included in product sales revenue(2) |  | 24,253 |  |  | 102 |  |  | — |  |  | — |  |  | 24,355 |
Affiliate management fee revenue |  | (351 | ) |  | (3,463 | ) |  | (1,028 | ) |  | — |  |  | (4,842 | )
Total revenue from contracts with customers under ASC 606 |  | $ | 451,572 |  |  | $ | 141,754 |  |  | $ | 42,174 |  |  | $ | (923 | ) |  | $ | 634,577 |
(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 September 30, 2019
|  | Refined Products |  | Crude Oil |  | Marine Storage |  | Intersegment Eliminations |  | Total
Transportation |  | $ | 205,824 |  |  | $ | 85,859 |  |  | $ | — |  |  | $ | — |  |  | $ | 291,683 |
Terminalling |  | 47,483 |  |  | 3,176 |  |  | 946 |  |  | — |  |  | 51,605 |
Storage |  | 25,788 |  |  | 35,371 |  |  | 34,230 |  |  | (1,556 | ) |  | 93,833 |
Ancillary services |  | 29,284 |  |  | 7,164 |  |  | 7,205 |  |  | — |  |  | 43,653 |
Lease revenue |  | 2,103 |  |  | 19,356 |  |  | 4,199 |  |  | — |  |  | 25,658 |
Transportation and terminals revenue |  | 310,482 |  |  | 150,926 |  |  | 46,580 |  |  | (1,556 | ) |  | 506,432 |
Product sales revenue |  | 134,755 |  |  | 8,343 |  |  | 1,709 |  |  | — |  |  | 144,807 |
Affiliate management fee revenue |  | 432 |  |  | 3,592 |  |  | 1,333 |  |  | — |  |  | 5,357 |
Total revenue |  | 445,669 |  |  | 162,861 |  |  | 49,622 |  |  | (1,556 | ) |  | 656,596 |
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: |  |  |  |  |  |  |  |  |  |
Lease revenue(1) |  | (2,103 | ) |  | (19,356 | ) |  | (4,199 | ) |  | — |  |  | (25,658 | )
(Gains) losses from futures contracts included in product sales revenue(2) |  | (17,061 | ) |  | (564 | ) |  | — |  |  | — |  |  | (17,625 | )
Affiliate management fee revenue |  | (432 | ) |  | (3,592 | ) |  | (1,333 | ) |  | — |  |  | (5,357 | )
Total revenue from contracts with customers under ASC 606 |  | $ | 426,073 |  |  | $ | 139,349 |  |  | $ | 44,090 |  |  | $ | (1,556 | ) |  | $ | 607,956 |
(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.
|  | Nine Months Ended September 30, 2018
|  | Refined Products |  | Crude Oil |  | Marine Storage |  | Intersegment Eliminations |  | Total
Transportation |  | $ | 548,733 |  |  | $ | 254,964 |  |  | $ | — |  |  | $ | — |  |  | $ | 803,697 |
Terminalling |  | 136,135 |  |  | 2,528 |  |  | 1,920 |  |  | — |  |  | 140,583 |
Storage |  | 75,353 |  |  | 87,620 |  |  | 101,420 |  |  | (2,753 | ) |  | 261,640 |
Ancillary services |  | 83,055 |  |  | 19,512 |  |  | 18,928 |  |  | — |  |  | 121,495 |
Lease revenue |  | 8,216 |  |  | 44,705 |  |  | 12,624 |  |  | — |  |  | 65,545 |
Transportation and terminals revenue |  | 851,492 |  |  | 409,329 |  |  | 134,892 |  |  | (2,753 | ) |  | 1,392,960 |
Product sales revenue |  | 513,634 |  |  | 32,387 |  |  | 6,771 |  |  | — |  |  | 552,792 |
Affiliate management fee revenue |  | 1,000 |  |  | 11,328 |  |  | 2,810 |  |  | — |  |  | 15,138 |
Total revenue |  | 1,366,126 |  |  | 453,044 |  |  | 144,473 |  |  | (2,753 | ) |  | 1,960,890 |
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: |  |  |  |  |  |  |  |  |  |
Lease revenue(1) |  | (8,216 | ) |  | (44,705 | ) |  | (12,624 | ) |  | — |  |  | (65,545 | )
Losses from futures contracts included in product sales revenue(2) |  | 64,558 |  |  | 5,582 |  |  | — |  |  | — |  |  | 70,140 |
Affiliate management fee revenue |  | (1,000 | ) |  | (11,328 | ) |  | (2,810 | ) |  | — |  |  | (15,138 | )
Total revenue from contracts with customers under ASC 606 |  | $ | 1,421,468 |  |  | $ | 402,593 |  |  | $ | 129,039 |  |  | $ | (2,753 | ) |  | $ | 1,950,347 |
(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.
|  | Nine Months Ended September 30, 2019
|  | Refined Products |  | Crude Oil |  | Marine Storage |  | Intersegment Eliminations |  | Total
Transportation |  | $ | 578,024 |  |  | $ | 262,551 |  |  | $ | — |  |  | $ | — |  |  | $ | 840,575 |
Terminalling |  | 136,435 |  |  | 13,145 |  |  | 2,535 |  |  | — |  |  | 152,115 |
Storage |  | 77,698 |  |  | 104,661 |  |  | 103,933 |  |  | (3,835 | ) |  | 282,457 |
Ancillary services |  | 83,308 |  |  | 19,796 |  |  | 20,671 |  |  | — |  |  | 123,775 |
Lease revenue |  | 8,237 |  |  | 53,950 |  |  | 12,520 |  |  | — |  |  | 74,707 |
Transportation and terminals revenue |  | 883,702 |  |  | 454,103 |  |  | 139,659 |  |  | (3,835 | ) |  | 1,473,629 |
Product sales revenue |  | 473,122 |  |  | 19,351 |  |  | 5,318 |  |  | — |  |  | 497,791 |
Affiliate management fee revenue |  | 1,314 |  |  | 10,724 |  |  | 3,772 |  |  | — |  |  | 15,810 |
Total revenue |  | 1,358,138 |  |  | 484,178 |  |  | 148,749 |  |  | (3,835 | ) |  | 1,987,230 |
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers: |  |  |  |  |  |  |  |  |  |
Lease revenue(1) |  | (8,237 | ) |  | (53,950 | ) |  | (12,520 | ) |  | — |  |  | (74,707 | )
Losses from futures contracts included in product sales revenue(2) |  | 39,761 |  |  | 1,743 |  |  | — |  |  | — |  |  | 41,504 |
Affiliate management fee revenue |  | (1,314 | ) |  | (10,724 | ) |  | (3,772 | ) |  | — |  |  | (15,810 | )
Total revenue from contracts with customers under ASC 606 |  | $ | 1,388,348 |  |  | $ | 421,247 |  |  | $ | 132,457 |  |  | $ | (3,835 | ) |  | $ | 1,938,217 |
(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. Balance Sheet Disclosures The following table summarizes our accounts receivable, contract assets and contract liabilities resulting from contracts with customers (in thousands):
|  | December 31, 2018 |  | September 30, 2019
Accounts receivable from contracts with customers |  | $ | 102,684 |  |  | $ | 129,017 |
Contract assets |  | $ | 8,487 |  |  | $ | 7,685 |
Contract liabilities |  | $ | 122,129 |  |  | $ | 110,519 |
For the three and nine months ended September 30, 2019, we recognized $6.0 million and $90.0 million of transportation and terminals revenue that was recorded in deferred revenue as of December 31, 2018. Unfulfilled Performance Obligations The following table provides the aggregate amount of the transaction price allocated to our unfulfilled performance obligations (“UPOs”) as of September 30, 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 September 30, 2019 |  | $ | 2,034,378 |  |  | $ | 1,206,147 |  |  | $ | 223,219 |  |  | $ | 3,463,744 |
Remaining terms |  | 1 - 19 years |  |  | 1 - 10 years |  |  | 1 - 5 years |  |  |
Estimated revenues from UPOs to be recognized in the next 12 months |  | $ | 289,478 |  |  | $ | 337,928 |  |  | $ | 122,047 |  |  | $ | 749,453 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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