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Business Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
We currently manage our businesses through four reportable segments. Our reportable segments are primarily organized around the different products and services we provide to our customers and include the following: (i) offshore pipeline transportation; (ii) soda and sulfur services; (iii) marine transportation; and (iv) onshore facilities and transportation.
Our offshore pipeline transportation segment consists of our offshore transportation of crude oil and natural gas in the Gulf of America, which focuses on provided a suite of services to integrated and large independent energy companies.
Our soda and sulfur services segment is composed of our Alkali Business and our sulfur services business which have similarities in the nature of products sold, production processes and the types and class of customers we sell our products to. Our Alkali Business is comprised of our trona and trona-based exploring, mining, processing, producing, marketing, logistics and selling activities. Our sulfur services business performs the processing of high sulfur (or “sour”) gas streams for refineries to remove the sulfur and selling the related by-product, NaHS.
Our marine transportation segment provides waterborne transportation of petroleum products (primarily fuel oil, asphalt and other heavy refined products) and crude oil throughout North America primarily to customers such as refiners and large energy companies.
Our onshore facilities and transportation segment provides services through a combination of purchasing, transporting, storing, blending and marketing crude oil and petroleum products primarily to crude oil refiners and producers.
Substantially all of our revenues are derived from, and substantially all of our assets are located in, the United States.
Our chief operating decision maker (our Chief Executive Officer) evaluates segment performance based on a variety of measures including Segment Margin, segment volumes, and, where relevant, capital investment.
Segment Margin is viewed by our chief operating decision maker as the primary measure that is most aligned with the measurement principles most consistent with those used in calculating the corresponding amounts in our Consolidated Financial Statements. We define Segment Margin as revenues less product costs, operating expenses (excluding non-cash gains and charges, such as depreciation, depletion, amortization and accretion), segment general and administrative expenses, all of which are net of the effects of our noncontrolling interests, plus our equity in distributable cash generated by our equity investees and unrestricted subsidiaries. In addition, our Segment Margin definition excludes the non-cash effects of our long-term incentive compensation plan.
Segment information for each year presented below is as follows:
Year Ended December 31, 2024
Offshore Pipeline Transportation Soda and Sulfur ServicesMarine TransportationOnshore Facilities and TransportationTotal
Revenues:
External customers$404,919 $1,549,060 $321,616 $690,621 $2,966,216 
Intersegment(1)
— (8,337)— 8,337 — 
Total revenues of reportable segments(2)
$404,919 $1,540,723 $321,616 $698,958 $2,966,216 
Segment Operating Expenses(117,207)(1,352,044)(196,602)(71,749)(1,737,602)
Segment Product Costs— — — (599,925)(599,925)
Other Segment Items(3)
45,074 (5,193)(11)4,484 44,354 
Segment Margin(4)
$332,786 $183,486 $125,003 $31,768 $673,043 
Year Ended December 31, 2023
Offshore Pipeline TransportationSoda and Sulfur ServicesMarine TransportationOnshore Facilities and TransportationTotal
Revenues:
External customers$377,842 $1,743,327 $327,464 $728,363 $3,176,996 
Intersegment(1)
4,312 (9,079)— 4,767 — 
Total revenues of reportable segments(2)
$382,154 $1,734,248 $327,464 $733,130 $3,176,996 
Segment Operating Expenses(96,025)(1,479,425)(218,403)(70,576)(1,864,429)
Segment Product Costs— — — (637,179)(637,179)
Other Segment Items(3)
120,543 27,191 1,362 2,578 151,674 
Segment Margin(4)
$406,672 $282,014 $110,423 $27,953 $827,062 
Year Ended December 31, 2022
Offshore Pipeline TransportationSoda and Sulfur ServicesMarine TransportationOnshore Facilities and TransportationTotal
Revenues:
External customers$319,045 $1,258,236 $292,925 $918,751 $2,788,957 
Intersegment(1)
— (10,151)370 9,781 — 
Total revenues of reportable segments(2)
$319,045 $1,248,085 $293,295 $928,532 $2,788,957 
Segment Operating Expenses(99,881)(926,743)(228,300)(68,066)(1,322,990)
Segment Product Costs— — — (828,152)(828,152)
Other Segment Items(3)
144,209 (14,624)1,214 1,441 132,240 
Segment Margin(4)
$363,373 $306,718 $66,209 $33,755 $770,055 
(1)Intersegment sales were conducted under terms that we believe were no more or less favorable than then-existing market conditions.
(2)Total revenues of reportable segments in the table above agrees to “Total revenues” as seen in our Consolidated Statements of Operations for each respective year. See Note 3 for more detailed information on the revenues reported by major category of products and services by reportable segment.
(3)Other Segment Items primarily includes adjustments related to the difference in timing of cash receipts for certain contractual agreements (applicable to our offshore pipeline transportation and onshore facilities and transportation segments), segment general and administrative expenses less the non-cash effects of our LTIP plan (applicable to all reportable segments), net effects of our noncontrolling interests (applicable to our offshore pipeline transportation segment), adjustments to include distributable cash generated by our equity investees (applicable to our offshore pipeline transportation and onshore facilities and transportation segments), unrealized gains and losses from the valuation of our commodity derivative transactions (excluding fair value hedges) (applicable to our soda and sulfur services and onshore facilities and transportation segment), plus distributions from unrestricted subsidiaries not included in income (applicable to our offshore pipeline transportation segment).
(4)A reconciliation of Net income (loss) from operations before income taxes to total Segment Margin to for each year is presented below.
Total assets by reportable segment were as follows:
December 31, 2024December 31, 2023
Offshore pipeline transportation$2,748,296 $2,580,032 
Soda and sulfur services2,597,039 2,705,350 
Marine transportation641,082 645,020 
Onshore facilities and transportation1,013,468 1,019,113 
Total reportable segment assets$6,999,885 $6,949,515 
Other assets37,807 69,263 
Total consolidated assets$7,037,692 $7,018,778 
Total growth and maintenance capital expenditures for fixed and intangible assets (including enhancements to existing facilities and construction of growth projects as well as contributions to equity investees) by reportable segment were as follows:
December 31, 2024December 31, 2023
Offshore pipeline transportation(1)
$255,640 $410,237 
Soda and sulfur services95,343 219,393 
Marine transportation91,752 42,681 
Onshore facilities and transportation16,283 19,018 
Total reportable segment$459,018 $691,329 
Other12,044 12,173 
Total consolidated capital expenditures$471,062 $703,502 
(1)Capital expenditures in our offshore pipeline transportation segment for 2024 and 2023 represent 100% of the costs incurred, including those funded by our noncontrolling interest holder.
Reconciliation of Net income (loss) from operations before income taxes to total Segment Margin:
 Year Ended
December 31,
202420232022
Income (loss) from operations before income taxes$(31,215)$146,328 $132,304 
Net income attributable to noncontrolling interests(30,940)(28,627)(23,235)
Net income attributable to redeemable noncontrolling interests— — (30,443)
Corporate general and administrative expenses57,929 73,876 71,820 
Depreciation, depletion, amortization and accretion324,249 291,731 307,519 
Interest expense287,235 244,663 226,156 
Adjustment to include distributable cash generated by equity investees not included in income and exclude equity in investees net income(1)
23,461 24,635 21,199 
Other non-cash items(2)
(15,445)13,488 (8,315)
Distributions from unrestricted subsidiaries not included in income(3)
— — 32,000 
Cancellation of debt income (Note 11)
— — (8,618)
Loss on extinguishment of debt (Note 11)
15,367 4,627 794 
Differences in timing of cash receipts for certain contractual arrangements(4)
(601)56,341 51,102 
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)
Redeemable noncontrolling interest redemption value adjustments(5)
— — 30,443 
Impairment expense (Note 10)
43,003 — — 
Total Segment Margin$673,043 $827,062 $770,055 
(1)Includes distributions attributable to the period and received during or promptly following such period.
(2)2024 includes unrealized gains of $7.8 million from the valuation of our commodity derivative transactions (excluding fair value hedges). 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.
(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.
(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. Refer to Note 12 for additional information.