Revenue Recognition

6 Months Ended

Jun. 30, 2019

Revenue from Contracts with Customers

The following tables reflect the disaggregation of our revenues by major category for the three months ended June 30, 2019 and 2018, respectively:



	Three Months Ended June 30, 2019
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	37,764	$	—	$	78,427	$	58,706	$	174,897
Product Sales	185,282		252,089		—		—		437,371
Refinery Services	—		22,517		—		—		22,517
	$	223,046	$	274,606	$	78,427	$	58,706	$	634,785



	Three Months Ended June 30, 2018
	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

The following tables reflect the disaggregation of our revenues by major category for the six months ended June 30, 2019 and 2018, respectively:



	Six Months Ended June 30, 2019
	Onshore Facilities & Transportation		Sodium Minerals & Sulfur Services		Offshore Pipeline Transportation		Marine Transportation		Consolidated
Fee-based revenues	$	75,776	$	—	$	156,744	$	115,356	$	347,876
Product Sales	356,826		509,932		—		—		866,758
Refinery Services	—		40,160		—		—		40,160
	$	432,602	$	550,092	$	156,744	$	115,356	$	1,254,794



	Six Months Ended June 30, 2018
	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

The Company recognizes revenue upon the satisfaction of its performance obligations under its contracts. The timing of revenue recognition varies for our different revenue streams. In general, the timing includes recognition of revenue over time as services are being performed as well as recognition of revenue at a point in time, for delivery of products.

Contract Assets and Liabilities

The table below depicts our contract asset and liability balances at December 31, 2018 and June 30, 2019:



	Contract Assets				Contract Liabilities
	Current		Non-Current		Non-Current
Balance at December 31, 2018	$	—	$	72,241	$	26,271
Balance at June 30, 2019	6,972		74,279		27,056

During both the three and six months ended June 30, 2019, $0.7 million that was previously classified as a contract liability at the beginning of the period was recognized as revenue. Additionally, no revenues were recognized in the period related to performance obligations satisfied or partially satisfied from a previous period. Accounts receivable-trade, net does not include consideration received in kind from our refinery services process. We did not have any material contract modifications during the period that would affect our contract asset and liability balances.

Transaction Price Allocations to Remaining Performance Obligations

We are required to disclose the amount of our transaction prices that are allocated to unsatisfied performance obligations as of June 30, 2019. However, ASC 606 does provide the following practical expedients and exemptions that we utilized:


1)	Performance obligations that are part of a contract with an expected duration of one year or less;


2)	Revenue recognized from the satisfaction of performance obligations where we have a right to consideration in an amount that corresponds directly with the value provided to customers; and


3)	Contracts that contain variable consideration, such as index-based pricing or variable volumes, that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that is part of a series.

We apply these practical expedients and exemptions to our revenue streams recognized over time. The majority of our contracts qualify for one of these expedients or exemptions. After considering these practical expedients and identifying the remaining contract types that involve revenue recognition over a long-term period and include long-term fixed consideration (adjusted for indexing as required), we determined our allocations of transaction price that relate to unsatisfied performance obligations. As it relates to our tiered pricing offshore transportation contracts, we provide firm capacity for both fixed and variable consideration over a long term period. Therefore, we have allocated the remaining contract value (as estimated and discussed above) to future periods.

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



	Offshore Pipeline Transportation		Onshore Facilities and Transportation
Remainder of 2019	$	47,476	$	32,170
2020	67,600		57,615
2021	52,479		20,269
2022	38,152		4,283
2023	25,353		—
Thereafter	142,114		—
Total	$	373,174	$	114,337