v3.20.2
SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENT On November 1, 2020, we entered into a Stock Purchase and Sale Agreement to sell the equity interests in NuStar’s wholly owned subsidiaries that own two terminals in Texas City, TX for $106.0 million, subject to adjustment. During October 2020, sale negotiations with potential buyers progressed significantly and our Board of Directors approved the potential sale. The two terminals have an aggregate storage capacity of 3.0 million barrels and are included in our storage segment. We expect to complete the sale before the end of the year and will utilize the sales proceeds to improve our debt metrics. Because the book value of these terminals exceeds the agreed purchase price, we expect to record a non-cash loss of $25.0 million to $30.0 million at closing.