XML 47 R36.htm IDEA: XBRL DOCUMENT v3.19.2
Business Segment Information (Tables)
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Segment information for the periods presented below was as follows:
 
Offshore Pipeline Transportation
 
Sodium Minerals & Sulfur Services
 
Onshore Facilities & Transportation
 
Marine Transportation
 
Total
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
Segment margin (a)
$
76,528

 
$
57,705

 
$
35,920

 
$
13,959

 
$
184,112

Capital expenditures (b)
$
2,521

 
$
26,137

 
$
3,009

 
$
7,696

 
$
39,363

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
78,427

 
$
276,513

 
$
223,778

 
$
56,067

 
$
634,785

Intersegment (c)
—

 
(1,907
)
 
(732
)
 
2,639

 
—

Total revenues of reportable segments
$
78,427

 
$
274,606

 
$
223,046

 
$
58,706

 
$
634,785

Three Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
Segment margin (a)
$
71,602

 
$
64,542

 
$
25,744

 
$
11,966

 
$
173,854

Capital expenditures (b)
$
1,447

 
$
18,560

 
$
12,570

 
$
9,814

 
$
42,391

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
69,969

 
$
300,928

 
$
328,134

 
$
53,357

 
$
752,388

Intersegment (c)
—

 
(2,047
)
 
(781
)
 
2,828

 
—

Total revenues of reportable segments
$
69,969

 
$
298,881

 
$
327,353

 
$
56,185

 
$
752,388

Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
Segment Margin (a)
$
152,918

 
$
116,344

 
$
61,523

 
$
26,891

 
$
357,676

Capital expenditures (b)
$
2,979

 
$
48,843

 
$
3,784

 
$
16,924

 
$
72,530

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
156,744

 
$
553,862

 
$
434,803

 
$
109,385

 
1,254,794

Intersegment (c)
—

 
(3,770
)
 
(2,201
)
 
5,971

 
—

Total revenues of reportable segments
$
156,744

 
$
550,092

 
$
432,602

 
$
115,356

 
$
1,254,794

Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
Segment Margin (a)
$
144,775

 
$
128,933

 
$
47,433

 
$
22,953

 
$
344,094

Capital expenditures (b)
$
2,101

 
$
28,259

 
$
35,859

 
$
20,679

 
$
86,898

Revenues:
 
 
 
 
 
 
 
 
 
External customers
$
143,229

 
$
588,331

 
$
648,349

 
$
98,287

 
1,478,196

Intersegment (c)
—

 
(3,540
)
 
(3,287
)
 
6,827

 
—

Total revenues of reportable segments
$
143,229

 
$
584,791

 
$
645,062

 
$
105,114

 
$
1,478,196

Total assets by reportable segment were as follows:
 
June 30,
2019
 
December 31,
2018
Offshore pipeline transportation
$
2,336,898

 
$
2,359,013

Sodium minerals and sulfur services
1,947,472

 
1,844,845

Onshore facilities and transportation
1,446,972

 
1,431,910

Marine transportation
780,565

 
800,243

Other assets
43,036

 
43,060

Total consolidated assets
$
6,554,943

 
$
6,479,071

 
(a)
A reconciliation of total Segment Margin to net income attributable to Genesis Energy, L.P. for the periods is presented below.
(b)
Capital expenditures include maintenance and growth capital expenditures, such as fixed asset additions (including enhancements to existing facilities and construction of growth projects) as well as acquisitions of businesses and contributions to equity investees related to same.
(c)
Intersegment sales were conducted under terms that we believe were no more or less favorable than then-existing market conditions.
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciliation of total Segment Margin to net income attributable to Genesis Energy, L.P:
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
Total Segment Margin
$
184,112

 
$
173,854

 
$
357,676

 
$
344,094

Corporate general and administrative expenses
(13,502
)
 
(13,466
)
 
(24,602
)
 
(23,926
)
Depreciation, depletion, amortization and accretion
(66,104
)
 
(79,862
)
 
(146,041
)
 
(157,870
)
Interest expense
(55,507
)
 
(57,909
)
 
(111,208
)
 
(114,045
)
Adjustment to exclude distributable cash generated by equity investees not included in income and include equity in investees net income (1)
(5,675
)
 
(10,037
)
 
(10,503
)
 
(19,094
)
Other non-cash items
(11,012
)
 
(638
)
 
(17,103
)
 
(6,775
)
Cash payments from direct financing leases in excess of earnings
(2,079
)
 
(1,884
)
 
(4,107
)
 
(3,723
)
Loss on extinguishment of debt
—

 
—

 
—

 
(3,339
)
Differences in timing of cash receipts for certain contractual arrangements (2)
9,848

 
1,148

 
12,135

 
4,479

Non-cash provision for leased items no longer in use
182

 
47

 
372

 
(139
)
Income tax expense
(143
)
 
(256
)
 
(545
)
 
(631
)
Net income attributable to Genesis Energy, L.P.
$
40,120

 
$
10,997

 
$
56,074

 
$
19,031


(1)
Includes distributions attributable to the quarter and received during or promptly following such quarter.
(2)
Includes the difference in timing of cash receipts from customers during the period and the revenue we recognize in accordance with GAAP on our related contracts.