BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2019

BUSINESS SEGMENTS

Schedule of information related to financial performance of business segments (in thousands)

Our Central services segment primarily represents the costs of employees performing operating oversight functions, engineering, health, safety and environmental services to our terminals and terminals that we operate or manage, including for affiliate terminals owned by ArcLight. In addition, Central services represent the cost of employees at affiliate terminals owned by ArcLight that we operate. We receive a fee from these affiliates based on our costs incurred.

The financial performance of our business segments is as follows (in thousands):

	Year ended		Year ended		Year ended
	December 31,		December 31,		December 31,
	2019		2018		2017
Gulf Coast Terminals:
Terminaling services fees	$	73,380	$	64,338	$	61,889
Management fees		36		284		1,052
Revenue		73,416		64,622		62,941
Operating costs and expenses		(22,196)		(22,817)		(22,829)
Net margins		51,220		41,805		40,112
Midwest Terminals:
Terminaling services fees		9,804		10,127		9,265
Pipeline transportation fees		1,851		1,772		1,732
Revenue		11,655		11,899		10,997
Operating costs and expenses		(3,443)		(3,053)		(2,859)
Net margins		8,212		8,846		8,138
Brownsville Terminals:
Terminaling services fees		11,560		8,339		9,186
Pipeline transportation fees		1,606		1,523		3,987
Management fees		5,787		7,384		7,472
Revenue		18,953		17,246		20,645
Operating costs and expenses		(9,053)		(7,812)		(10,447)
Net margins		9,900		9,434		10,198
River Terminals:
Terminaling services fees		10,233		10,654		10,883
Management fees		—		—		64
Revenue		10,233		10,654		10,947
Operating costs and expenses		(6,040)		(6,832)		(6,624)
Net margins		4,193		3,822		4,323
Southeast Terminals:
Terminaling services fees		87,813		82,821		75,122
Management fees		964		891		882
Revenue		88,777		83,712		76,004
Operating costs and expenses		(23,500)		(26,836)		(24,302)
Net margins		65,277		56,876		51,702
West Coast Terminals:
Terminaling services fees		48,160		39,952		1,738
Management fees		36		8		—
Revenue		48,196		39,960		1,738
Operating costs and expenses		(16,339)		(14,678)		(639)
Net margins		31,857		25,282		1,099
Central Services:
Management fees		11,812		4,204		1,175
Revenue		11,812		4,204		1,175
Operating costs and expenses		(22,451)		(16,949)		(13,627)
Net margins		(10,639)		(12,745)		(12,452)
Total net margins		160,020		133,320		103,120
General and administrative expenses		(23,660)		(23,707)		(23,692)
Insurance expenses		(4,995)		(4,976)		(4,064)
Deferred compensation expense		(2,308)		(3,478)		(2,999)
Depreciation and amortization		(52,535)		(49,793)		(36,188)
Earnings from unconsolidated affiliates		4,894		8,852		7,071
Gain from insurance proceeds		3,351		—		—
Loss on disposition of assets		—		(901)		—
Operating income		84,767		59,317		43,248
Other expenses		(38,853)		(34,937)		(11,694)
Net earnings	$	45,914	$	24,380	$	31,554

Schedule of supplemental information about consolidated business segments (in thousands)

Supplemental information about our business segments is summarized below (in thousands):

	Year ended December 31, 2019
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	64,879	$	11,655	$	10,535	$	10,233	$	88,777	$	48,196	$	—	$	234,275
Affiliate customers		8,537		—		8,418		—		—		—		11,812		28,767
Revenue	$	73,416	$	11,655	$	18,953	$	10,233	$	88,777	$	48,196	$	11,812	$	263,042
Capital expenditures	$	7,697	$	722	$	27,068	$	2,978	$	39,947	$	10,458	$	2,153	$	91,023
Identifiable assets	$	125,062	$	19,595	$	93,903	$	45,263	$	262,462	$	278,610	$	13,329	$	838,224
Cash and cash equivalents																1,090
Investments in unconsolidated affiliates																225,425
Revolving credit facility unamortized deferred debt issuance costs, net																3,818
Other																3,496
Total assets															$	1,072,053

	Year ended December 31, 2018
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	56,144	$	11,899	$	8,934	$	10,654	$	83,712	$	39,960	$	—	$	211,303
Affiliate customers		8,478		—		8,312		—		—		—		4,204		20,994
Revenue	$	64,622	$	11,899	$	17,246	$	10,654	$	83,712	$	39,960	$	4,204	$	232,297
Capital expenditures	$	5,357	$	568	$	15,673	$	1,596	$	35,070	$	7,858	$	209	$	66,331

	Year ended December 31, 2017
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	62,941	$	10,997	$	13,452	$	10,947	$	76,004	$	1,738	$	—	$	176,079
Affiliate customers		—		—		7,193		—		—		—		1,175		8,368
Revenue	$	62,941	$	10,997	$	20,645	$	10,947	$	76,004	$	1,738	$	1,175	$	184,447
Capital expenditures	$	6,233	$	174	$	11,678	$	2,075	$	37,957	$	48	$	(115)	$	58,050