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Discontinued Operations, Divestitures, and Assets Held for Sale
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations, Divestitures, and Assets Held for Sale DISCONTINUED OPERATIONS, DIVESTITURES, AND ASSETS HELD FOR SALE

Divestitures

Divestiture of East Texas Pipeline. On August 12, 2019, the Partnership completed the sale of its East Texas Pipeline for $17,500. The Partnership recorded a gain on the disposition of $16,154, which was included in "Other operating income, net" on the Partnership's Consolidated Statements of Operations. The net proceeds were used to reduce outstanding borrowings under the Partnership's revolving credit facility. The divestiture of the East Texas Pipeline assets did not qualify for discontinued operations presentation under the guidance of ASC 205-20.
    
Divestiture of Natural Gas Storage Assets. On June 28, 2019, the Partnership completed the sale of the Natural Gas Storage Assets to Hartree, a subsidiary of Hartree Bulk Storage, LLC. The Natural Gas Storage Assets consist of approximately 50 billion cubic feet of working capacity located in northern Louisiana and Mississippi. In consideration of the sale of these assets, the Partnership received cash proceeds of $210,067 after transaction fees and expenses. The net proceeds were used to reduce outstanding borrowings under the Partnership's revolving credit facility. The Partnership has concluded the disposition represents a strategic shift and will have a major effect on its financial results going forward. As a result, the Partnership has presented the results of operations and cash flows relating to the Natural Gas Storage Assets as discontinued operations for the years ended December 31, 2019, 2018, and 2017.

The operating results, which are included in income (loss) from discontinued operations, were as follows:
 
For the Year Ended December 31,
 
2019
 
2018
 
2017
 
 
 
 
 
 
Total revenues
$
22,836

 
$
52,108

 
$
59,360

Total costs and expenses and other, net, excluding depreciation and amortization
(15,360
)
 
(20,703
)
 
(19,940
)
Depreciation and amortization
(8,161
)
 
(18,795
)
 
(22,370
)
Other operating loss, net1
(178,781
)
 
(824
)
 
(82
)
Other, net
—

 
—

 
3

Income (loss) from discontinued operations before income taxes
(179,466
)
 
11,786

 
16,971

Income tax expense
—

 
—

 
—

Income (loss) from discontinued operations, net of income taxes
$
(179,466
)
 
$
11,786

 
$
16,971


1 The year ended December 31, 2019 includes a loss on the disposition of the Natural Gas Storage Assets of $178,781.

As the disposition of the Natural Gas Storage Assets was completed prior to meeting the criteria in ASC 210-20-14 to be classified as held for sale, the Partnership has adjusted the Balance Sheet as of December 31, 2018 to present separately the assets and liabilities of the Natural Gas Storage Assets. See table below for more information.
 
December 31, 2018
 
 
Accounts and other receivables
$
7,269

Inventories
1,942

Other current assets
217

Current assets - Natural Gas Storage Assets
$
9,428

 
 
Property, plant and equipment, at cost
$
425,138

Accumulated depreciation
(49,238
)
Intangibles and other assets, net
19,489

Non-current assets - Natural Gas Storage Assets
$
395,389

 
 
Trade and other accounts payable
$
1,682

Product exchange payable
1,134

Due to affiliates
2

Other accrued liabilities
422

Current liabilities - Natural Gas Storage Assets
$
3,240

 
 
Other long-term obligations
$
669

Non-current liabilities - Natural Gas Storage Assets
$
669



Divestiture of WTLPG Partnership Interest. On July 31, 2018, the Partnership completed the sale of its 20 percent non-operating interest in WTLPG to ONEOK. WTLPG owns an approximate 2,300 mile common-carrier pipeline system that primarily transports NGLs from New Mexico and Texas to Mont Belvieu, Texas for fractionation. A wholly-owned subsidiary of ONEOK is the operator of the assets. In consideration for the sale of these assets, the Partnership received cash proceeds of $193,705, after transaction fees and expenses. The proceeds from the sale were used to reduce outstanding borrowings under the Partnership's revolving credit facility.  The Partnership has concluded the disposition represents a strategic shift and will have a major effect on its financial results going forward. As a result, the Partnership has presented the results of operations and cash flows relating to its equity method investment in WTLPG as discontinued operations for the years ended December 31, 2018 and 2017.

The operating results, which are included in income from discontinued operations, were as follows:
 
For the Year Ended December 31,
 
2019
 
2018
 
2017
 
 
 
 
 
 
Total costs and expenses and other, net, excluding depreciation and amortization1
$
—

 
$
(247
)
 
$
(186
)
Other operating income2
—

 
48,564

 
—

Equity in earnings
—

 
3,383

 
4,314

Income from discontinued operations before income taxes
—

 
51,700

 
4,128

Income tax expense
—

 
—

 
—

Income from discontinued operations, net of income taxes
$
—

 
$
51,700

 
$
4,128


1 These expenses represent direct operating expenses as a result of the Partnership's ownership interest in WTLPG.

2 Other operating income represents the gain on the disposition of the investment in WTLPG.

Long-Lived Assets Held for Sale

In the fourth quarter of 2017, the Partnership identified certain assets that were no longer deemed core to the operations of the Partnership in the Marine division of the Transportation segment. Additionally, the Partnership recorded an adjustment to the fair value less cost to sell of a certain asset classified as held for sale in the Martin Lubricants division of the Terminalling and Storage segment. As a result, an impairment charge of $600 and $1,625 was recorded in the Terminalling and Storage and Transportation segments, respectively, in the fourth quarter of 2017 and was presented as "Impairment of long-lived assets" in the Partnership's Consolidated Statements of Operations.

At December 31, 2019 and 2018, the assets met the criteria to be classified as held for sale in accordance with ASC 360-10 and are presented at the assets' fair value less cost to sell by segment in current assets as follows:
 
December 31, 2019
 
December 31, 2018
 
 
 
 
Terminalling and storage
$
3,552

 
$
3,552

Transportation
1,500

 
2,100

    Assets held for sale
$
5,052

 
$
5,652



During 2018, the Partnership received $1,002 in proceeds from the sale of assets classified as held for sale resulting in a loss of $1,022, which was presented as a component of "Other operating income (loss), net" in the Partnership's Consolidated Statements of Operations.

During 2017, the Partnership received $8,341 in proceeds from the sale of assets classified as held for sale resulting in a gain of $822, which was presented as a component of "Other operating income (loss), net" in the Partnership's Consolidated Statements of Operations.

The non-core assets discussed above did not qualify for discontinued operations presentation under the guidance of ASC 205-20.