Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Impact on Balance Sheet and Operating Income

Adoption of ASC 606 and its related Transition effects

The modified retrospective method of adoption required us to apply the new revenue standard to all new revenue contracts entered into after January 1, 2018 and revenue contracts that were not completed as of January 1, 2018. Our consolidated revenues for periods prior to January 1, 2018 were not revised and the cumulative effect of our adoption of ASC 606 was recorded as an adjustment to partners' capital at January 1, 2018. Based on this application, the following adjustments were made to our consolidated balance sheet as of January 1, 2018:



	December 31, 2017		Adjustments			January 1, 2018
ASSETS
Accounts receivable- trade, net	$	495,449	$	(48,028	)	$	447,421
Inventories	88,653		5,138			93,791
Other assets, net of amortization	56,628		59,204			115,832

LIABILITIES AND CAPITAL
Other long-term liabilities	256,571		19,864			276,435

Partners' capital	2,026,147		(3,550		)	2,022,597

The tables below summarize the impact of adoption on our unaudited condensed consolidated balance sheet and statement of operations as of and for the three months ended March 31, 2018:



	As of March 31, 2018
Unaudited Condensed Consolidated Balance Sheet	As Reported	Without adoption of ASC 606	Effect of Change Increase/(Decrease)
ASSETS
Accounts receivable-trade, net	419,903	472,116	(52,213	)
Inventories	95,667	92,628	3,039
Other Assets, net of amortization	116,190	51,948	64,242

LIABILITIES AND CAPITAL
Other Long-Term Liabilities	290,401	268,832	21,569
Partners' Capital	1,951,590	1,958,091	(6,501	)



	Three months ended March 31, 2018
Unaudited Condensed Consolidated Statement of Operations	As Reported	Without adoption of ASC 606	Effect of Change Increase/(Decrease)

Offshore pipeline transportation services	73,260	74,111	(851	)
Sodium minerals and sulfur services	285,910	263,965	21,945
Marine transportation	48,929	48,929	—
Onshore facilities and transportation	317,709	317,709	—
Total revenues	725,808	704,714	21,094

Onshore facilities and transportation product costs	277,818	277,818	—
Onshore facilities and transportation operating costs	22,295	22,295	—
Marine transportation operating costs	37,847	37,847	—
Sodium minerals and sulfur services operating costs	223,498	199,454	24,044
Offshore pipeline transportation operating costs	18,340	18,340	—

OPERATING INCOME	59,081	62,032	(2,951	)

Schedule of Disaggregation of Revenue

The following table reflects the disaggregation of our revenues by major category for the three months ended March 31, 2018:



	Period ended March 31, 2018
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	30,338		—		73,260		48,929		152,527
Product Sales	287,371		263,965		—		—		551,336
Refinery Services	—		21,945		—		—		21,945
	$	317,709	$	285,910	$	73,260	$	48,929	$	725,808

Schedule of Contract Asset and Liabilities Balances Activity

The table below depicts our contract asset and liability balances and related activity from January 1, 2018 to March 31, 2018:



	Contract Assets	Contract Liabilities
	Non-Current	Non-Current
Balance at January 1, 2018	59,204	19,864
Balance at March 31, 2018	64,240	21,570

Schedule of Revenue Expected to be Recognized in Future Periods

The following chart depicts how we expect to recognize revenues for future periods related to these contracts:



	Offshore Pipeline Transportation		Marine Transportation		Onshore Facilities and Transportation

Remainder of 2018	$	63,672	$	20,350	$	49,773
2019	73,918		27,010		66,267
2020	50,883		20,128		60,689
2021	34,261		—		21,714
2022	22,558		—		4,283
Thereafter	134,623		—		—
Total	$	379,915	$	67,488	$	202,726