Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Impact on Consolidated Balance Sheet and Statement of Operations

Adoption of ASC 606 and its related Transition Effects

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

Current Impact of New Revenue Recognition Guidance

The tables below summarize the impact of adoption on our consolidated balance sheet and statement of operations as of and for the year ended December 31, 2018:



	As of December 31, 2018
Consolidated Balance Sheet	As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)
ASSETS
Accounts receivable-trade, net	$	323,462	$	371,490	$	(48,028	)
Inventories	73,531		69,367		4,164
Other Assets, net of amortization	121,707		49,466		72,241

LIABILITIES AND CAPITAL
Other Long-Term Liabilities	259,198		232,927		26,271
Partners' Capital	1,690,799		1,688,693		2,106



	Year ended December 31, 2018
Consolidated Statement of Operations	As Reported		Without adoption of ASC 606		Effect of Change Increase/(Decrease)

Offshore pipeline transportation services	$	284,544	$	277,915	$	6,629
Sodium minerals and sulfur services	1,174,434		1,071,634		102,800
Marine transportation	219,937		219,937		—
Onshore facilities and transportation	1,233,855		1,233,855		—
Total revenues	2,912,770		2,803,341		109,429

Onshore facilities and transportation product costs	1,037,688		1,037,688		—
Onshore facilities and transportation operating costs	89,042		89,042		—
Marine transportation operating costs	172,527		172,527		—
Sodium minerals and sulfur services operating costs	912,491		808,718		103,773
Offshore pipeline transportation operating costs	66,668		66,668		—

OPERATING INCOME	170,248		164,592		5,656

Schedule of Disaggregation of Revenue

The following table reflects the disaggregation of our revenues by major category for the year ended December 31, 2018:



	Year Ended December 31,
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	156,266	$	—	$	284,544	$	219,937	$	660,747
Product Sales	1,077,589		1,071,634		—		—		2,149,223
Refinery Services	—		102,800		—		—		102,800
	$	1,233,855	$	1,174,434	$	284,544	$	219,937	$	2,912,770

Schedule of Contract Asset and Liabilities Balances Activity

The table below depicts our contract asset and liability balances at January 1, 2018 and December 31, 2018:



	Contract Assets		Contract Liabilities
	Non-Current		Non-Current
Balance at January 1, 2018	$	59,204	$	19,864
Balance at December 31, 2018	72,241		26,271

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

2019	$	74,200	$	27,010	$	65,436
2020	51,256		20,128		57,090
2021	34,562		—		20,139
2022	22,828		—		4,283
2023	12,076		—		—
Thereafter	123,371		—		—
Total	$	318,293	$	47,138	$	146,948