Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Impact on Balance Sheet and Operating Income

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 nine months ended September 30, 2018:



	As of September 30, 2018
Unaudited Condensed Consolidated Balance Sheet	As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)
ASSETS
Accounts receivable-trade, net	$	365,646	$	413,674	$	(48,028	)
Inventories	85,722		83,329		2,393
Other Assets, net of amortization	120,102		50,742		69,360

LIABILITIES AND CAPITAL
Other Long-Term Liabilities	275,823		251,075		24,748
Partners' Capital	1,799,409		1,800,432		(1,023		)



	Three months ended September 30, 2018							Nine months ended September 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	$	70,115	$	69,323	$	792		$	213,344	$	208,073	$	5,271
Sodium minerals and sulfur services	291,722		268,207		23,515			876,513		801,323		75,190
Marine transportation	56,296		56,296		—			161,410		161,410		—
Onshore facilities and transportation	327,145		327,145		—			972,207		972,207		—
Total revenues	745,278		720,971		24,307			2,223,474		2,143,013		80,461

Onshore facilities and transportation product costs	273,251		273,251		—			834,128		834,128		—
Onshore facilities and transportation operating costs	22,005		22,005		—			67,346		67,346		—
Marine transportation operating costs	44,195		44,195		—			126,259		126,259		—
Sodium minerals and sulfur services operating costs	229,204		204,013		25,191			685,219		607,285		77,934
Offshore pipeline transportation operating costs	17,753		17,753		—			53,533		53,533		—

OPERATING INCOME	46,148		47,032		(884		)	166,129		163,602		2,527

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

Schedule of Disaggregation of Revenue

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



	Three Months Ended September 30,
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	42,188	$	—	$	70,115	$	56,296	$	168,599
Product Sales	284,957		268,207		—		—		553,164
Refinery Services	—		23,515		—		—		23,515
	$	327,145	$	291,722	$	70,115	$	56,296	$	745,278



	Nine Months Ended September 30,
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	107,536	$	—	$	213,344	$	161,410	$	482,290
Product Sales	864,671		801,323		—		—		1,665,994
Refinery Services	—		75,190		—		—		75,190
	$	972,207	$	876,513	$	213,344	$	161,410	$	2,223,474

Schedule of Contract Asset and Liabilities Balances Activity

The table below depicts our contract asset and liability balances at January 1, 2018 and September 30, 2018:



	Contract Assets		Contract Liabilities
	Non-Current		Non-Current
Balance at January 1, 2018	$	59,204	$	19,864
Balance at September 30, 2018	69,360		24,748

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	$	21,154	$	6,808	$	14,297
2019	73,918		27,010		57,090
2020	50,883		20,128		57,090
2021	34,261		—		20,139
2022	22,558		—		4,283
Thereafter	134,623		—		—
Total	$	337,397	$	53,946	$	152,899