v3.19.3.a.u2

SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
SEGMENT INFORMATION | 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:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (Thousands of Dollars)
Revenues: |  |  |  |  |
Pipeline | $ | 701,830 |  |  | $ | 611,065 |  |  | $ | 516,288 |
Storage: |  |  |  |  |
Third parties | 453,976 |  |  | 443,546 |  |  | 438,677 |
Intersegment | 25 |  |  | 42 |  |  | 4,339 |
Total storage | 454,001 |  |  | 443,588 |  |  | 443,016 |
Fuels marketing | 342,215 |  |  | 465,651 |  |  | 489,807 |
Consolidation and intersegment eliminations | (25 | ) |  | (42 | ) |  | (4,339 | )
Total revenues | $ | 1,498,021 |  |  | $ | 1,520,262 |  |  | $ | 1,444,772 |
Depreciation and amortization expense: |  |  |  |  |
Pipeline | $ | 166,991 |  |  | $ | 153,943 |  |  | $ | 128,061 |
Storage | 97,573 |  |  | 93,345 |  |  | 91,696 |
Total segment depreciation and amortization expense | 264,564 |  |  | 247,288 |  |  | 219,757 |
Other depreciation and amortization expense | 8,360 |  |  | 8,604 |  |  | 8,435 |
Total depreciation and amortization expense | $ | 272,924 |  |  | $ | 255,892 |  |  | $ | 228,192 |
Operating income: |  |  |  |  |
Pipeline | $ | 332,480 |  |  | $ | 272,695 |  |  | $ | 231,795 |
Storage | 154,105 |  |  | 155,708 |  |  | 172,720 |
Fuels marketing | 20,578 |  |  | 15,964 |  |  | 1,987 |
Consolidation and intersegment eliminations | (32 | ) |  | 32 |  |  | (1 | )
Total segment operating income | 507,131 |  |  | 444,399 |  |  | 406,501 |
General and administrative expenses | 107,855 |  |  | 100,067 |  |  | 107,556 |
Other depreciation and amortization expense | 8,360 |  |  | 8,604 |  |  | 8,435 |
Total operating income | $ | 390,916 |  |  | $ | 335,728 |  |  | $ | 290,510 |
Revenues by geographic area are shown in the table below:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (Thousands of Dollars)
United States | $ | 1,465,135 |  |  | $ | 1,481,844 |  |  | $ | 1,406,776 |
Foreign | 32,886 |  |  | 38,418 |  |  | 37,996 |
Consolidated revenues | $ | 1,498,021 |  |  | $ | 1,520,262 |  |  | $ | 1,444,772 |
For the years ended December 31, 2019, 2018 and 2017, Valero Energy Corporation accounted for approximately 21%, or $307.2 million, 20%, or $303.7 million, and 20%, or $294.5 million, of our 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,
| 2019 |  | 2018
| (Thousands of Dollars)
United States | $ | 4,000,647 |  |  | $ | 3,688,631 |
Foreign | 118,332 |  |  | 86,171 |
Consolidated property, plant and equipment, net | $ | 4,118,979 |  |  | $ | 3,774,802 |
Total assets by reportable segment were as follows:
| December 31,
| 2019 |  | 2018
| (Thousands of Dollars)
Pipeline | $ | 3,884,819 |  |  | $ | 3,637,226 |
Storage | 2,082,832 |  |  | 1,902,764 |
Fuels marketing | 31,064 |  |  | 37,252 |
Total segment assets | 5,998,715 |  |  | 5,577,242 |
Assets held for sale | — |  |  | 599,347 |
Other partnership assets | 187,277 |  |  | 172,551 |
Total consolidated assets | $ | 6,185,992 |  |  | $ | 6,349,140 |
Capital expenditures, including acquisitions, by reportable segment were as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (Thousands of Dollars)
Pipeline | $ | 387,702 |  |  | $ | 288,035 |  |  | $ | 1,596,311 |
Storage | 141,972 |  |  | 202,782 |  |  | 244,398 |
Other partnership assets | 3,894 |  |  | 4,137 |  |  | 5,648 |
Total capital expenditures | $ | 533,568 |  |  | $ | 494,954 |  |  | $ | 1,846,357 |
Capital expenditures have not been adjusted to separately disclose those capital expenditures related to discontinued operations, which are included in the storage segment totaling $28.0 million, $114.8 million, and $153.8 million for the years ended December 31, 2019, 2018 and 2017, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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