v2.4.0.8
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION

Our reportable business segments consist of storage, pipeline (formerly known as the transportation segment), and fuels marketing. In 2013, we changed the name of the “Asphalt and Fuels Marketing” segment to the “Fuels Marketing” segment since this name more accurately reflects the operations that remain after the Asphalt Sale and the San Antonio Refinery Sale.

Our segments represent strategic business units that offer different services and products. We evaluate the performance of each segment based on its respective operating income, before general and administrative expenses and certain non-segmental depreciation and amortization expense. General and administrative expenses are not allocated to the operating segments since those expenses relate primarily to the overall management at the entity level. Our principal operations include terminalling and storage of petroleum products, the transportation of petroleum products and anhydrous ammonia, and fuels marketing. Intersegment revenues result from storage and throughput agreements with wholly owned subsidiaries of NuStar Energy at lease rates consistent with rates charged to third parties for storage and at pipeline tariff rates based upon the applicable published tariff. Related party revenues mainly result from storage agreements with our joint ventures and the noncontrolling shareholder of our Turkey subsidiary.
Results of operations for the reportable segments were as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(Thousands of Dollars)
Revenues:
 
 
 
 
 
Storage:
 
 
 
 
 
Third parties
$
518,253

 
$
517,699

 
$
500,303

Intersegment
32,044

 
59,168

 
46,324

Related party
6,252

 
1,199

 
—

Total storage
556,549

 
578,066

 
546,627

Pipeline:
 
 
 
 
 
Third parties
411,529

 
340,455

 
311,449

Intersegment
—

 
—

 
65

Total pipeline
411,529

 
340,455

 
311,514

Fuels marketing:
 
 
 
 
 
Third parties
2,519,053

 
5,085,592

 
5,445,877

Intersegment
—

 
—

 
9,782

Related party
8,645

 
791

 
—

Total fuels marketing
2,527,698

 
5,086,383

 
5,455,659

Consolidation and intersegment eliminations
(32,044
)
 
(59,168
)
 
(56,171
)
Total revenues
$
3,463,732

 
$
5,945,736

 
$
6,257,629

 
 
 
 
 
 
Depreciation and amortization expense:
 
 
 
 
 
Storage
$
99,868

 
$
88,217

 
$
82,921

Pipeline
68,871

 
52,878

 
51,165

Fuels marketing
27

 
11,253

 
20,949

Total segment depreciation and amortization expense
168,766

 
152,348

 
155,035

Other depreciation and amortization expense
10,155

 
7,441

 
6,738

Total depreciation and amortization expense
$
178,921

 
$
159,789

 
$
161,773

 
 
 
 
 
 
Operating (loss) income:
 
 
 
 
 
Storage
$
(127,484
)
 
$
198,842

 
$
196,508

Pipeline
208,293

 
158,590

 
146,403

Fuels marketing
(126
)
 
(296,785
)
 
71,854

Consolidation and intersegment eliminations
1,437

 
7,939

 
5,906

Total segment operating income
82,120

 
68,586

 
420,671

Less general and administrative expenses
91,086

 
104,756

 
103,050

Less other depreciation and amortization expense
10,155

 
7,441

 
6,738

Other asset impairment loss
—

 
3,295

 
—

Gain on legal settlement
—

 
(28,738
)
 
—

Total operating (loss) income
$
(19,121
)
 
$
(18,168
)
 
$
310,883


 
Revenues by geographic area are shown in the table below.
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(Thousands of Dollars)
United States
$
2,340,694

 
$
4,230,607

 
$
4,521,553

Netherlands
1,027,260

 
1,438,297

 
1,564,062

Other
95,778

 
276,832

 
172,014

Consolidated revenues
$
3,463,732

 
$
5,945,736

 
$
6,257,629



For the years ended December 31, 2013, 2012 and 2011, Valero Energy Corporation accounted for approximately 15%, or $534.2 million, 11%, or $668.1 million, and 11%, or $684.1 million, of our consolidated revenues, respectively. These revenues were included in all of our reportable business segments. No other single customer accounted for 10% or more of our consolidated revenues.

Total amounts of property, plant and equipment, net by geographic area were as follows:
 
December 31,
 
2013
 
2012
 
(Thousands of Dollars)
United States
$
2,635,792

 
$
2,560,608

Netherlands
467,660

 
454,560

Other
207,201

 
223,292

Consolidated long-lived assets
$
3,310,653

 
$
3,238,460


Total assets by reportable segment were as follows:
 
December 31,
 
2013
 
2012
 
(Thousands of Dollars)
Storage
$
2,275,183

 
$
2,627,946

Pipeline
1,797,698

 
1,720,711

Fuels marketing
445,882

 
885,661

Total segment assets
4,518,763

 
5,234,318

Other partnership assets
513,423

 
378,771

Total consolidated assets
$
5,032,186

 
$
5,613,089



Capital expenditures, including acquisitions and investments in other noncurrent assets, by reportable segment were as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(Thousands of Dollars)
Storage
$
170,637

 
$
161,672

 
$
263,918

Pipeline
165,096

 
493,028

 
45,170

Fuels marketing
69

 
20,333

 
90,683

Other partnership assets
7,518

 
53,982

 
45,569

Total capital expenditures
$
343,320

 
$
729,015

 
$
445,340