Revenue Recognition

3 Months Ended

Mar. 31, 2020

Revenue from Contracts with Customers

The following tables reflect the disaggregation of our revenues by major category for the three months ended March 31, 2020 and 2019, respectively:



	Three Months Ended March 31, 2020
	Offshore Pipeline Transportation		Sodium Minerals & Sulfur Services		Marine Transportation		Onshore Facilities and Transportation		Consolidated
Fee-based revenues	$	78,429	$	—	$	62,346	$	40,990	$	181,765
Product Sales	—		215,366		—		114,768		330,134
Refinery Services	—		28,024		—		—		28,024
	$	78,429	$	243,390	$	62,346	$	155,758	$	539,923



	Three Months Ended March 31, 2019
	Offshore Pipeline Transportation		Sodium Minerals & Sulfur Services		Marine Transportation		Onshore Facilities & Transportation		Consolidated
Fee-based revenues	$	78,317	$	—	$	56,650	$	38,012	$	172,979
Product Sales	—		257,843		—		171,544		429,387
Refinery Services	—		17,643		—		—		17,643
	$	78,317	$	275,486	$	56,650	$	209,556	$	620,009

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, 2019 and March 31, 2020:



	Contract Assets				Contract Liabilities
	Current		Non-Current		Current		Non-Current
Balance at December 31, 2019	$	21,912	$	54,232	$	2,896	$	23,170
Balance at March 31, 2020	33,672		37,277		2,983		22,376

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 March 31, 2020. We are exempted from disclosing performance obligations with a duration of one year or less, revenue recognized related to performance obligations where the consideration corresponds directly with the value provided to customers, and contracts with variable consideration that is allocated wholly to an unsatisfied performance obligation or promise to transfer a good or service that is part of a series in accordance with ASC 606.

The majority of our contracts qualify for one of these expedients or exemptions. For the remaining contract types that involve revenue recognition over a long-term period with long-term fixed consideration (adjusted for indexing as required), we determined our allocations of transaction price that relate to unsatisfied performance obligations. For 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 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 2020	$	54,873	$	43,220
2021	58,623		20,269
2022	69,134		4,283
2023	58,540		—
2024	52,812		—
Thereafter	154,899		—
Total	$	448,881	$	67,772