Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment information for each year presented below is as follows:


	Offshore Pipeline Transportation		Soda and Sulfur Services		Marine Transportation		Onshore Facilities and Transportation		Total
Year Ended December 31, 2023
Segment Margin(1)	$	406,672	$	282,014	$	110,423	$	27,953	$	827,062
Capital expenditures(2)	$	410,237	$	219,393	$	42,681	$	19,018	$	691,329
Revenues:
External customers	$	377,842	$	1,743,327	$	327,464	$	728,363	$	3,176,996
Intersegment(3)	4,312		(9,079)		—		4,767		$	—
Total revenues of reportable segments	$	382,154	$	1,734,248	$	327,464	$	733,130	$	3,176,996
Year Ended December 31, 2022
Segment Margin(1)	$	363,373	$	306,718	$	66,209	$	33,755	$	770,055
Capital expenditures(2)	$	241,446	$	174,518	$	39,084	$	5,878	$	460,926
Revenues:
External customers	$	319,045	$	1,258,236	$	292,925	$	918,751	$	2,788,957
Intersegment(3)	—		(10,151)		370		9,781		$	—
Total revenues of reportable segments	$	319,045	$	1,248,085	$	293,295	$	928,532	$	2,788,957
Year Ended December 31, 2021
Segment Margin(1)	$	317,560	$	166,773	$	34,572	$	98,824	$	617,729
Capital expenditures(2)	$	50,546	$	227,118	$	34,456	$	4,609	$	316,729
Revenues:
External customers	$	278,459	$	973,354	$	188,011	$	685,652	$	2,125,476
Intersegment(3)	—		(8,722)		2,816		5,906		$	—
Total revenues of reportable segments	$	278,459	$	964,632	$	190,827	$	691,558	$	2,125,476

(1)A reconciliation of Net income (loss) attributable to Genesis Energy, L.P. to total Segment Margin to for each year is presented below.

(2)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.

(3)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:


	December 31, 2023		December 31, 2022
Offshore pipeline transportation	$	2,580,032	$	2,290,488
Soda and sulfur services	2,705,350		2,358,086
Marine Transportation	645,020		681,231
Onshore facilities and transportation	1,019,113		981,354
Other assets	69,263		54,833
Total consolidated assets	$	7,018,778	$	6,365,992

Schedule of Reconciliation of Segment Margin To (Loss) Income Before Income Taxes

Reconciliation of Net income (loss) attributable to Genesis Energy, L.P. to total Segment Margin:


	Year Ended December 31,
	2023		2022		2021
Net income (loss) attributable to Genesis Energy, L.P.	$	117,720	$	75,457	$	(165,067)
Corporate general and administrative expenses	73,876		71,820		61,287
Depreciation, depletion, amortization and accretion	291,731		307,519		315,896
Interest expense	244,663		226,156		233,724
Adjustment to include distributable cash generated by equity investees not included in income and exclude equity in investees net income(1)	24,635		21,199		26,207

Other non-cash items(2)	13,488		(8,315)		30,907
Distributions from unrestricted subsidiaries not included in income(3)	—		32,000		70,000
Cancellation of debt income (Note 1 1)	—		(8,618)		—
Loss on extinguishment of debt (Note 1 1 )	4,627		794		1,627
Differences in timing of cash receipts for certain contractual arrangements(4)	56,341		51,102		15,482
Gain on sale of asset, net to our ownership interest (Note 8 )	—		(32,000)		—

Change in provision for leased items no longer in use	—		(671)		598
Income tax expense (benefit)	(19)		3,169		1,670
Redeemable noncontrolling interest redemption value adjustments(5)	—		30,443		25,398

Total Segment Margin	$	827,062	$	770,055	$	617,729

(1)Includes distributions attributable to the period and received during or promptly following such period.

(2)2023 includes unrealized losses of $36.7 million from the valuation of our commodity derivative transactions (excluding fair value hedges). 2022 includes unrealized gains of $24.4 million from the valuation of our commodity derivative transactions (excluding fair value hedges) and unrealized losses of $18.6 million from the valuation of the embedded derivative associated with our Class A Convertible Preferred Units. 2021 includes unrealized gains of $0.1 million from the valuation of our commodity derivative transactions (excluding fair value hedges) and unrealized losses of $30.8 million from the valuation of the embedded derivative associated with our Class A Convertible Preferred Units.

(3)2022 includes $32.0 million in cash receipts associated with the sale of the Independence Hub platform by our 80% owned unrestricted subsidiary (as defined under our credit agreement), Independence Hub, LLC. 2021 includes $70.0 million in cash receipts associated with principal repayments on our previously owned NEJD pipeline not included in income.

(4)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.

(5)2022 includes PIK distributions and accretion on the redemption feature of our Alkali Holdings preferred units, and valuation adjustments to the redemption feature as the associated Alkali Holdings preferred units were redeemed during the year ended December 31, 2022. 2021 includes PIK distributions and accretion on the redemption feature attributable to our Alkali Holdings preferred units. Refer to Note 1 2 for additional information.