BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 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				Six months ended
	June 30,				June 30,
	2020		2019		2020		2019
Gulf Coast Terminals:
Terminaling services fees	$	18,877	$	16,978	$	39,530	$	33,144
Management fees		7		5		12		14
Revenue		18,884		16,983		39,542		33,158
Operating costs and expenses		(5,049)		(5,458)		(11,172)		(10,907)
Net margins		13,835		11,525		28,370		22,251
Midwest Terminals:
Terminaling services fees		2,033		2,751		3,476		5,241
Pipeline transportation fees		472		453		944		906
Revenue		2,505		3,204		4,420		6,147
Operating costs and expenses		(761)		(821)		(1,276)		(1,406)
Net margins		1,744		2,383		3,144		4,741
Brownsville Terminals:
Terminaling services fees		3,657		2,566		7,664		4,863
Pipeline transportation fees		400		400		800		796
Management fees		1,269		1,439		2,769		3,098
Revenue		5,326		4,405		11,233		8,757
Operating costs and expenses		(2,454)		(2,304)		(5,137)		(4,490)
Net margins		2,872		2,101		6,096		4,267
River Terminals:
Terminaling services fees		2,639		2,392		5,333		4,754
Revenue		2,639		2,392		5,333		4,754
Operating costs and expenses		(1,415)		(1,523)		(2,659)		(3,009)
Net margins		1,224		869		2,674		1,745
Southeast Terminals:
Terminaling services fees		21,629		21,752		43,139		43,128
Management fees		292		257		532		478
Revenue		21,921		22,009		43,671		43,606
Operating costs and expenses		(5,329)		(5,968)		(10,902)		(12,092)
Net margins		16,592		16,041		32,769		31,514
West Coast Terminals:
Terminaling services fees		13,626		13,125		26,663		24,109
Management fees		9		8		18		17
Revenue		13,635		13,133		26,681		24,126
Operating costs and expenses		(4,954)		(4,534)		(9,998)		(8,504)
Net margins		8,681		8,599		16,683		15,622
Central Services:
Management fees		3,148		2,843		6,019		5,689
Revenue		3,148		2,843		6,019		5,689
Operating costs and expenses		(5,393)		(5,856)		(10,848)		(11,381)
Net margins		(2,245)		(3,013)		(4,829)		(5,692)
Total net margins		42,703		38,505		84,907		74,448
General and administrative expenses		(5,250)		(5,212)		(11,567)		(13,376)
Insurance expenses		(1,280)		(1,218)		(2,488)		(2,579)
Deferred compensation expense		(354)		(294)		(1,265)		(1,093)
Depreciation and amortization		(14,242)		(13,107)		(27,883)		(25,759)
Earnings from unconsolidated affiliates		1,850		1,225		4,003		2,365
Gain from insurance proceeds		—		3,351		—		3,351
Operating income		23,427		23,250		45,707		37,357
Other expenses		(7,831)		(10,340)		(17,688)		(19,932)
Net earnings	$	15,596	$	12,910	$	28,019	$	17,425

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

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

	Three months ended June 30, 2020
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	16,783	$	2,505	$	3,411	$	2,639	$	21,921	$	13,635	$	—	$	60,894
Affiliate customers		2,101		—		1,915		—		—		—		3,148		7,164
Revenue	$	18,884	$	2,505	$	5,326	$	2,639	$	21,921	$	13,635	$	3,148	$	68,058
Capital expenditures	$	2,641	$	238	$	5,454	$	1,304	$	3,384	$	1,662	$	193	$	14,876
Identifiable assets	$	120,549	$	19,130	$	101,721	$	46,037	$	257,645	$	273,730	$	12,751	$	831,563
Cash and cash equivalents																982
Investments in unconsolidated affiliates																226,252
Revolving credit facility unamortized deferred debt issuance costs, net																2,966
Other																5,480
Total assets															$	1,067,243

	Three months ended June 30, 2019
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	14,743	$	3,204	$	2,356	$	2,392	$	22,009	$	13,133	$	—	$	57,837
Affiliate customers		2,240		—		2,049		—		—		—		2,843		7,132
Revenue	$	16,983	$	3,204	$	4,405	$	2,392	$	22,009	$	13,133	$	2,843	$	64,969
Capital expenditures	$	1,614	$	108	$	3,623	$	679	$	8,788	$	1,885	$	258	$	16,955

	Six months ended June 30, 2020
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	35,310	$	4,420	$	7,148	$	5,333	$	43,671	$	26,681	$	—	$	122,563
Affiliate customers		4,232		—		4,085		—		—		—		6,019		14,336
Revenue	$	39,542	$	4,420	$	11,233	$	5,333	$	43,671	$	26,681	$	6,019	$	136,899
Capital expenditures	$	3,960	$	357	$	10,486	$	2,012	$	7,007	$	4,059	$	884	$	28,765
Identifiable assets	$	120,549	$	19,130	$	101,721	$	46,037	$	257,645	$	273,730	$	12,751	$	831,563
Cash and cash equivalents																982
Investments in unconsolidated affiliates																226,252
Revolving credit facility unamortized deferred debt issuance costs, net																2,966
Other																5,480
Total assets															$	1,067,243

	Six months ended June 30, 2019
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
External customers	$	28,616	$	6,147	$	4,355	$	4,754	$	43,606	$	24,126	$	—	$	111,604
Affiliate customers		4,542		—		4,402		—		—		—		5,689		14,633
Revenue	$	33,158	$	6,147	$	8,757	$	4,754	$	43,606	$	24,126	$	5,689	$	126,237
Capital expenditures	$	3,068	$	387	$	11,451	$	1,166	$	24,437	$	6,468	$	320	$	47,297