SEGMENT INFORMATION

Our reportable business segments consist of the pipeline, storage and fuels marketing segments. 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, and the terminalling, storage and 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:



	Three Months Ended March 31,
	2018			2017
	(Thousands of Dollars)
Revenues:
Pipeline	$	136,790		$	121,240
Storage:
Third parties	153,253			143,488
Intersegment	2,075			3,943
Total storage	155,328			147,431
Fuels marketing	185,838			222,702
Consolidation and intersegment eliminations	(2,075		)	(3,943		)
Total revenues	$	475,881		$	487,430

Operating income:
Pipeline	$	57,794		$	65,028
Storage	56,261			53,759
Fuels marketing	6,320			5,140
Consolidation and intersegment eliminations	(3		)	—
Total segment operating income	120,372			123,927
General and administrative expenses	19,774			24,595
Other depreciation and amortization expense	2,118			2,193
Total operating income	$	98,480		$	97,139

Total assets by reportable segment were as follows:



	March 31, 2018		December 31, 2017
	(Thousands of Dollars)
Pipeline	$	3,516,435	$	3,492,417
Storage	2,761,667		2,735,563
Fuels marketing	121,489		118,746
Total segment assets	6,399,591		6,346,726
Other partnership assets	187,122		188,507
Total consolidated assets	$	6,586,713	$	6,535,233