SEGMENT INFORMATION

Our reportable business segments consist of pipeline, storage and fuels marketing. 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 the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. Intersegment revenues result from storage agreements with wholly owned subsidiaries of NuStar Energy at rates consistent with the rates charged to third parties for storage.

Results of operations for the reportable segments were as follows:



	Year Ended December 31,
	2017			2016			2015
	(Thousands of Dollars)
Revenues:
Pipeline	$	516,288		$	485,650		$	508,522
Storage:
Third parties	604,847			589,098			599,302
Intersegment	12,106			20,944			25,606
Total storage	616,953			610,042			624,908
Fuels marketing	692,884			681,934			976,216
Consolidation and intersegment eliminations	(12,106		)	(20,944		)	(25,606		)
Total revenues	$	1,814,019		$	1,756,682		$	2,084,040

Depreciation and amortization expense:
Pipeline	$	128,061		$	89,554		$	84,951
Storage	127,473			118,663			116,768
Total segment depreciation and amortization expense	255,534			208,217			201,719
Other depreciation and amortization expense	8,698			8,519			8,491
Total depreciation and amortization expense	$	264,232		$	216,736		$	210,210

Operating income:
Pipeline	$	231,795		$	248,238		$	270,349
Storage	219,439			214,801			217,818
Fuels marketing	5,983			3,406			13,507
Consolidation and intersegment eliminations	(1		)	—			42
Total segment operating income	457,216			466,445			501,716
General and administrative expenses	112,240			98,817			102,521
Other depreciation and amortization expense	8,698			8,519			8,491
Total operating income	$	336,278		$	359,109		$	390,704

Revenues by geographic area are shown in the table below:



	Year Ended December 31,
	2017		2016		2015
	(Thousands of Dollars)
United States	$	1,406,626	$	1,352,936	$	1,599,088
Netherlands	322,251		313,395		386,282
Other	85,142		90,351		98,670
Consolidated revenues	$	1,814,019	$	1,756,682	$	2,084,040

For the years ended December 31, 2017, 2016 and 2015, Valero Energy Corporation accounted for approximately 17%, or $300.0 million, 18%, or $310.0 million, and 16%, or $331.7 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,
	2017		2016
	(Thousands of Dollars)
United States	$	3,519,965	$	3,086,337
Netherlands	572,817		469,061
Other	208,151		166,885
Consolidated long-lived assets	$	4,300,933	$	3,722,283

Total assets by reportable segment were as follows:



	December 31,
	2017		2016
	(Thousands of Dollars)
Pipeline	$	3,492,417	$	2,024,633
Storage	2,735,563		2,522,586
Fuels marketing	118,746		168,347
Total segment assets	6,346,726		4,715,566
Other partnership assets	188,507		314,979
Total consolidated assets	$	6,535,233	$	5,030,545

Capital expenditures, including acquisitions and investments in other noncurrent assets, by reportable segment were as follows:



	Year Ended December 31,
	2017		2016		2015
	(Thousands of Dollars)
Pipeline	$	1,596,311	$	88,373	$	175,657
Storage	244,398		206,641		285,258
Other partnership assets	5,648		5,001		9,957
Total capital expenditures	$	1,846,357	$	300,015	$	470,872