Exit Activities And Divestitures

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

EXIT ACTIVITIES AND DIVESTITURES

Exit from Butane Optimization Business. During the second quarter of 2023, the Partnership completed its previously announced exit from its butane optimization business at the conclusion of the butane selling season. This exit did not qualify as discontinued operations pursuant to ASC 205. Going forward, with respect to butane, the Partnership will operate as a fee-based butane logistics business, utilizing its north Louisiana underground storage assets, which have both truck and rail capability. This logistics business will also utilize the Partnership's truck transportation assets for fee-based product movements. As a result of this new business model, the Partnership will no longer carry butane inventory, enabling the Partnership to reduce commodity risk exposure, cash flow and earnings volatility, and working capital requirements. The following revenues and costs, which are included in the financial results for all periods presented, are not expected to be incurred under the new fee-based butane logistics business model. The butane optimization business has historically been included in the Partnership's Specialty Products operating segment.


	2023		2022		2021
Products revenue	$	70,539	$	172,756	$	223,290
Cost of products sold	72,283		190,677		196,475
Selling, general and administrative expenses	512		2,094		4,292
	$	(2,256)	$	(20,015)	$	22,523

Divestiture of Stockton, California Sulfur Terminal. On October 7, 2022, the Partnership closed on the sale of its Stockton Sulfur Terminal to Gulf Terminals LLC for net proceeds of approximately $5,250, which were used to reduce outstanding borrowings under the Partnership's credit facility. The divestiture of the Stockton Sulfur Terminal did not qualify for discontinued operations presentation under the guidance of ASC 205-20.