XML 49 R35.htm IDEA: XBRL DOCUMENT v3.21.2
Business Segment Information (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Segment information for the periods presented below was as follows:
Offshore Pipeline TransportationSodium Minerals & Sulfur ServicesOnshore Facilities & TransportationMarine TransportationTotal
Three Months Ended June 30, 2021
Segment margin (a)$83,106 $38,194 $22,368 $8,468 $152,136 
Capital expenditures (b)$19,421 $80,560 $2,487 $11,157 $113,625 
Revenues:
External customers$73,221 $239,258 $144,406 $46,970 $503,855 
Intersegment (c)— (2,171)1,515 656 — 
Total revenues of reportable segments$73,221 $237,087 $145,921 $47,626 $503,855 
Three Months Ended June 30, 2020
Segment margin (a)$75,148 $24,824 $21,215 $18,138 $139,325 
Capital expenditures (b)$1,983 $33,462 $829 $3,493 $39,767 
Revenues:
External customers$64,964 $194,543 $74,690 $54,270 $388,467 
Intersegment (c)— (1,919)(531)2,450 — 
Total revenues of reportable segments$64,964 $192,624 $74,159 $56,720 $388,467 
Six Months Ended June 30, 2021
Segment Margin (a)$167,375 $81,914 $43,367 $15,577 $308,233 
Capital expenditures (b)$30,949 $90,598 $3,586 $22,871 $148,004 
Revenues:
External customers$137,605 $468,564 $332,556 $86,349 $1,025,074 
Intersegment (c)— (4,190)2,582 1,608 — 
Total revenues of reportable segments$137,605 $464,374 $335,138 $87,957 $1,025,074 
Six Months Ended June 30, 2020
Segment Margin (a)$160,394 $61,765 $49,314 $37,140 $308,613 
Capital expenditures (b)$3,010 $48,437 $1,986 $17,725 $71,158 
Revenues:
External customers$143,393 $440,078 $231,489 $113,430 $928,390 
Intersegment (c)— (4,064)(1,572)5,636 — 
Total revenues of reportable segments$143,393 $436,014 $229,917 $119,066 $928,390 
(a)A reconciliation of total Segment Margin to net loss 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 contributions to equity investees, if any.
(c)Intersegment sales were conducted under terms that we believe were no more or less favorable than then-existing market conditions.
    Total assets by reportable segment were as follows:
June 30,
2021
December 31, 2020
Offshore pipeline transportation$2,152,939 $2,187,083 
Sodium minerals and sulfur services2,041,083 1,962,146 
Onshore facilities and transportation1,011,805 1,035,662 
Marine transportation710,870 711,058 
Other assets46,790 37,670 
Total consolidated assets$5,963,487 $5,933,619 
Schedule of Reconciliation of Operating Loss from Segments to Consolidated
Reconciliation of total Segment Margin to net loss attributable to Genesis Energy, L.P.:
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2021202020212020
Total Segment Margin$152,136 $139,325 $308,233 $308,613 
Corporate general and administrative expenses(12,359)(24,867)(23,511)(31,359)
Depreciation, depletion, amortization and accretion(69,684)(82,580)(138,681)(158,558)
Interest expense(59,169)(51,618)(116,998)(106,583)
Adjustment to exclude distributable cash generated by equity investees not included in income and include equity in investees net income (1)
(7,692)(5,776)(16,548)(12,182)
Other non-cash items (2)
(14,683)(23,291)(33,127)8,777 
Distribution from unrestricted subsidiaries not included in income (3)
(17,500)(2,294)(35,000)(4,532)
Cancellation of debt income (4)
— 18,532 — 19,725 
Loss on extinguishment of debt (4)
— — (1,627)(23,480)
Differences in timing of cash receipts for certain contractual arrangements (5)
(6,446)(11,638)(6,745)(16,128)
Impairment expense (6)
— (277,495)— (277,495)
Provision for leased items no longer in use(58)(598)72 
Redeemable noncontrolling interest redemption value adjustments (7)
(5,766)(4,159)(10,557)(8,245)
Income tax expense(525)(795)(747)(430)
Net loss attributable to Genesis Energy, L.P.$(41,682)$(326,714)$(75,906)$(301,805)
(1)    Includes distributions attributable to the quarter and received during or promptly following such quarter.
(2)     The three and six months ended June 30, 2021 include a $14.3 million unrealized loss and $32.8 million unrealized loss, respectively, from the valuation of the embedded derivative associated with our Class A Convertible Preferred Units. The three and six months ended June 30, 2020 include a $21.8 million unrealized loss and $10.7 million unrealized gain, respectively, from the valuation of the embedded derivative. Refer to Note 16 for details.
(3)    The three and six months ended June 30, 2021 include $17.5 million and $35.0 million, respectively, in cash receipts not included in income associated with principal repayments on our previously owned NEJD pipeline. The three and six months ended June 30, 2020 include $2.3 million and $4.5 million, respectively, in cash receipts not included in income associated with principal repayments on our NEJD pipeline. Genesis NEJD Pipeline, LLC is defined as an unrestricted subsidiary under our credit facility. See Note 4 for details.
(4)     Refer to Note 9 for details surrounding the repurchases of certain of our senior unsecured notes and the extinguishment of our 2022 Notes and 2023 Notes.
(5)    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.
(6)    Refer to Note 6 for details surrounding our non-cash impairment expense recorded for the three and six months ended June 30, 2020.
(7) Includes PIK distributions attributable to the period and accretion on the redemption feature.