v3.20.1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS [Text Block] REVENUE FROM CONTRACTS WITH CUSTOMERS

Contract Assets and Contract Liabilities
The following table provides information about contract assets and contract liabilities from contracts with customers:
 
2020
 
2019
 
Contract Assets
 
Contract Liabilities
 
Contract Assets
 
Contract Liabilities
 
(Thousands of Dollars)
Balances as of January 1:
 
 
 
 
 
 
 
Current portion
$
2,140

 
$
(21,083
)
 
$
2,066

 
$
(21,579
)
Noncurrent portion
1,003

 
(40,289
)
 
539

 
(38,945
)
Held for sale
—

 
—

 
—

 
(25,357
)
Total
3,143

 
(61,372
)
 
2,605

 
(85,881
)
 
 
 
 
 
 
 
 
Activity:
 
 
 
 
 
 
 
Additions
1,357

 
(11,883
)
 
941

 
(11,094
)
Transfer to accounts receivable
(1,289
)
 
—

 
(1,272
)
 
—

Transfer to revenues, including amounts
reported in discontinued operations
—

 
10,765

 
—

 
34,714

Total
68

 
(1,118
)
 
(331
)
 
23,620

 
 
 
 
 
 
 
 
Balances as of March 31:
 
 
 
 
 
 
 
Current portion
1,812

 
(20,421
)
 
1,381

 
(21,798
)
Noncurrent portion
1,399

 
(42,069
)
 
893

 
(40,463
)
Total
$
3,211

 
$
(62,490
)
 
$
2,274

 
$
(62,261
)


As previously discussed in Note 3, the inclusion of PDVSA on the SDN List prevented us from providing services to PDVSA unless the sanctions were lifted or otherwise modified. As a result, in the first quarter of 2019 we accelerated the recognition of revenue totaling $16.3 million, representing the amount remaining from a third quarter 2018 settlement we entered into with PDVSA.

Remaining Performance Obligations
The following table presents our estimated revenue from contracts with customers for remaining performance obligations that has not yet been recognized, representing our contractually committed revenue as of March 31, 2020 (in thousands of dollars):
2020 (remaining)
 
$
407,852

2021
 
410,418

2022
 
332,087

2023
 
251,772

2024
 
185,094

Thereafter
 
274,160

Total
 
$
1,861,383



Our contractually committed revenue, for purposes of the tabular presentation above, is generally limited to customer service contracts that have fixed pricing and fixed volume terms and conditions, generally including contracts with payment obligations for take-or-pay minimum volume commitments.

Disaggregation of Revenues
The following table disaggregates our revenues:
 
Three Months Ended March 31,
 
2020
 
2019
 
(Thousands of Dollars)
Pipeline segment:
 
 
 
Crude oil pipelines
$
91,722

 
$
68,478

Refined products and ammonia pipelines (excluding lessor revenues)
103,134

 
85,106

Total pipeline segment revenues from contracts with customers
194,856

 
153,584

Lessor revenues
825

 
2,667

Total pipeline segment revenues
195,681

 
156,251

 
 
 
 
Storage segment:
 
 
 
Throughput terminals
38,723

 
21,686

Storage terminals (excluding lessor revenues)
74,166

 
71,621

Total storage segment revenues from contracts with customers
112,889

 
93,307

Lessor revenues
10,328

 
10,193

Total storage segment revenues
123,217

 
103,500

 
 
 
 
Fuels marketing segment:
 
 
 
Revenues from contracts with customers
73,902

 
88,079

 
 
 
 
Consolidation and intersegment eliminations
(9
)
 
(4
)
 
 
 
 
Total revenues
$
392,791

 
$
347,826