Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Impact on Balance Sheet and Operating Income

The modified retrospective method of adoption required us to apply ASC 606 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 and six months ended June 30, 2018:



	As of June 30, 2018
Unaudited Condensed Consolidated Balance Sheet	As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)
ASSETS
Accounts receivable-trade, net	$	432,777	$	484,990	$	(52,213	)
Inventories	92,520		88,451		4,069
Other Assets, net of amortization	118,170		51,098		67,072

LIABILITIES AND CAPITAL
Other Long-Term Liabilities	293,524		270,274		23,250
Partners' Capital	1,881,957		1,886,279		(4,322		)



	Three months ended June 30, 2018						Six months ended June 30, 2018
Unaudited Condensed Consolidated Statement of Operations	As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)		As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)

Offshore pipeline transportation services	$	69,969	$	68,822	$	1,147	$	143,229	$	142,933	$	296
Sodium minerals and sulfur services	298,881		269,151		29,730		584,791		533,116		51,675
Marine transportation	56,185		56,185		—		105,114		105,114		—
Onshore facilities and transportation	327,353		327,353		—		645,062		645,062		—
Total revenues	752,388		721,511		30,877		1,478,196		1,426,225		51,971

Onshore facilities and transportation product costs	283,059		283,059		—		560,877		560,877		—
Onshore facilities and transportation operating costs	23,046		23,046		—		45,341		45,341		—
Marine transportation operating costs	44,217		44,217		—		82,064		82,064		—
Sodium minerals and sulfur services operating costs	232,517		203,818		28,699		456,015		403,272		52,743
Offshore pipeline transportation operating costs	17,440		17,440		—		35,780		35,780		—

OPERATING INCOME	60,900		58,721		2,179		119,981		120,753		(772		)

Schedule of Disaggregation of Revenue

The following table reflects the disaggregation of our revenues by major category for the three and six months ended June 30, 2018:



	Three Months Ended June 30,
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	35,010	$	—	$	69,969	$	56,185	$	161,164
Product Sales	292,343		269,151		—		—		561,494
Refinery Services	—		29,730		—		—		29,730
	$	327,353	$	298,881	$	69,969	$	56,185	$	752,388



	Six Months Ended June 30,
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	65,348	$	—	$	143,229	$	105,114	$	313,691
Product Sales	579,714		533,116		—		—		1,112,830
Refinery Services	—		51,675		—		—		51,675
	$	645,062	$	584,791	$	143,229	$	105,114	$	1,478,196

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 June 30, 2018:



	Contract Assets		Contract Liabilities
	Non-Current		Non-Current
Balance at January 1, 2018	$	59,204	$	19,864
Balance at June 30, 2018	67,072		23,253

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	$	41,715	$	13,616	$	33,633
2019	73,918		27,010		67,083
2020	50,883		20,128		61,328
2021	34,261		—		21,892
2022	22,558		—		4,283
Thereafter	134,623		—		—
Total	$	357,958	$	60,754	$	188,219