BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2020

BUSINESS SEGMENTS

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

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

	Three months ended
	March 31,
	2020		2019
Gulf Coast Terminals:
Terminaling services fees	$	20,653	$	16,166
Management fees		5		9
Revenue		20,658		16,175
Operating costs and expenses		(6,123)		(5,449)
Net margins		14,535		10,726
Midwest Terminals:
Terminaling services fees		1,443		2,490
Pipeline transportation fees		472		453
Revenue		1,915		2,943
Operating costs and expenses		(515)		(585)
Net margins		1,400		2,358
Brownsville Terminals:
Terminaling services fees		4,007		2,297
Pipeline transportation fees		400		396
Management fees		1,500		1,659
Revenue		5,907		4,352
Operating costs and expenses		(2,683)		(2,186)
Net margins		3,224		2,166
River Terminals:
Terminaling services fees		2,694		2,362
Revenue		2,694		2,362
Operating costs and expenses		(1,244)		(1,486)
Net margins		1,450		876
Southeast Terminals:
Terminaling services fees		21,510		21,376
Management fees		240		221
Revenue		21,750		21,597
Operating costs and expenses		(5,573)		(6,124)
Net margins		16,177		15,473
West Coast Terminals:
Terminaling services fees		13,037		10,984
Management fees		9		9
Revenue		13,046		10,993
Operating costs and expenses		(5,044)		(3,970)
Net margins		8,002		7,023
Central Services:
Management fees		2,871		2,846
Revenue		2,871		2,846
Operating costs and expenses		(5,455)		(5,525)
Net margins		(2,584)		(2,679)
Total net margins		42,204		35,943
General and administrative expenses		(6,317)		(8,164)
Insurance expenses		(1,208)		(1,361)
Deferred compensation expense		(911)		(799)
Depreciation and amortization		(13,641)		(12,652)
Earnings from unconsolidated affiliates		2,153		1,140
Operating income		22,280		14,107
Other expenses		(9,857)		(9,592)
Net earnings	$	12,423	$	4,515

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

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

	Three months ended March 31, 2020
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	18,527	$	1,915	$	3,737	$	2,694	$	21,750	$	13,046	$	—	$	61,669
Affiliate customers		2,131		—		2,170		—		—		—		2,871		7,172
Revenue	$	20,658	$	1,915	$	5,907	$	2,694	$	21,750	$	13,046	$	2,871	$	68,841
Capital expenditures	$	1,319	$	119	$	5,032	$	708	$	3,623	$	2,397	$	691	$	13,889
Identifiable assets	$	122,280	$	19,034	$	98,679	$	44,755	$	259,699	$	274,109	$	13,214	$	831,770
Cash and cash equivalents																3,440
Investments in unconsolidated affiliates																228,352
Revolving credit facility unamortized deferred debt issuance costs, net																3,390
Other																7,111
Total assets															$	1,074,063

	Three months ended March 31, 2019
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	13,873	$	2,943	$	1,999	$	2,362	$	21,597	$	10,993	$	—	$	53,767
Affiliate customers		2,302		—		2,353		—		—		—		2,846		7,501
Revenue	$	16,175	$	2,943	$	4,352	$	2,362	$	21,597	$	10,993	$	2,846	$	61,268
Capital expenditures	$	1,454	$	279	$	7,828	$	487	$	15,649	$	4,583	$	62	$	30,342