BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2022

BUSINESS SEGMENTS

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

	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
Gulf Coast Terminals:
Terminaling services fees	$	21,595	$	18,699	$	63,917	$	57,148
Management fees		17		12		47		37
Revenue		21,612		18,711		63,964		57,185
Operating costs and expenses		(5,965)		(5,422)		(16,931)		(16,484)
Net margins		15,647		13,289		47,033		40,701
Midwest Terminals:
Terminaling services fees		2,512		2,394		7,558		7,963
Revenue		2,512		2,394		7,558		7,963
Operating costs and expenses		(459)		(474)		(1,377)		(1,743)
Net margins		2,053		1,920		6,181		6,220
Brownsville Terminals:
Terminaling services fees		5,370		4,427		15,129		12,719
Management fees		1,480		1,454		4,467		4,048
Pipeline transportation fees		—		—		—		638
Revenue		6,850		5,881		19,596		17,405
Operating costs and expenses		(2,746)		(2,331)		(7,745)		(6,922)
Net margins		4,104		3,550		11,851		10,483
River Terminals:
Terminaling services fees		3,964		3,534		11,252		10,449
Revenue		3,964		3,534		11,252		10,449
Operating costs and expenses		(1,776)		(1,590)		(4,996)		(4,823)
Net margins		2,188		1,944		6,256		5,626
Southeast Terminals:
Terminaling services fees		17,581		19,465		52,243		57,715
Management fees		268		298		776		830
Revenue		17,849		19,763		53,019		58,545
Operating costs and expenses		(6,291)		(5,809)		(19,147)		(17,641)
Net margins		11,558		13,954		33,872		40,904
West Coast Terminals:
Product sales		100,840		70,083		280,714		168,172
Terminaling services fees		23,461		20,628		67,075		60,642
Management fees		10		10		31		30
Revenue		124,311		90,721		347,820		228,844
Cost of product sales		(96,173)		(65,769)		(269,335)		(157,765)
Operating costs and expenses		(8,747)		(7,304)		(26,396)		(23,906)
Costs and expenses		(104,920)		(73,073)		(295,731)		(181,671)
Net margins		19,391		17,648		52,089		47,173
Central Services:
Management fees		1,575		1,380		4,729		4,531
Revenue		1,575		1,380		4,729		4,531
Operating costs and expenses		(3,721)		(3,808)		(12,109)		(11,236)
Net margins		(2,146)		(2,428)		(7,380)		(6,705)
Total net margins		52,795		49,877		149,902		144,402
General and administrative		(6,967)		(7,425)		(22,430)		(18,575)
Insurance		(1,525)		(1,580)		(4,780)		(4,673)
Deferred compensation		(786)		(355)		(3,006)		(1,572)
Depreciation and amortization		(17,886)		(17,149)		(53,015)		(51,232)
Earnings from unconsolidated affiliates		2,922		3,791		9,779		11,835
Operating income		28,553		27,159		76,450		80,185
Other expenses (interest and deferred debt issuance costs)		(6,311)		(11,231)		(37,278)		(33,630)
Net earnings	$	22,242	$	15,928	$	39,172	$	46,555

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

	Three months ended September 30, 2022
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
Terminal revenue	$	21,612	$	2,512	$	6,850	$	3,964	$	17,849	$	23,471	$	1,575	$	77,833
Product sales		—		—		—		—		—		100,840		—		100,840
Revenue	$	21,612	$	2,512	$	6,850	$	3,964	$	17,849	$	124,311	$	1,575	$	178,673
Capital expenditures	$	1,676	$	256	$	1,274	$	407	$	1,634	$	5,096	$	345	$	10,688
Identifiable assets	$	138,367	$	16,317	$	113,502	$	46,565	$	234,074	$	448,007	$	11,055	$	1,007,887
Cash and cash equivalents																16,027
Investments in unconsolidated affiliates																327,882
Other																47,926
Total assets															$	1,399,722

	Three months ended September 30, 2021
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
Terminal revenue	$	18,711	$	2,394	$	5,881	$	3,534	$	19,763	$	20,638	$	1,380	$	72,301
Product sales		—		—		—		—		—		70,083		—		70,083
Revenue	$	18,711	$	2,394	$	5,881	$	3,534	$	19,763	$	90,721	$	1,380	$	142,384
Capital expenditures	$	3,589	$	14	$	2,412	$	719	$	3,077	$	12,835	$	46	$	22,692

	Nine months ended September 30, 2022
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
Terminal revenue	$	63,964	$	7,558	$	19,596	$	11,252	$	53,019	$	67,106	$	4,729	$	227,224
Product sales		—		—		—		—		—		280,714		—		280,714
Revenue	$	63,964	$	7,558	$	19,596	$	11,252	$	53,019	$	347,820	$	4,729	$	507,938
Capital expenditures	$	8,594	$	713	$	3,145	$	699	$	6,407	$	16,932	$	590	$	37,080

	Nine months ended September 30, 2021
	Gulf Coast		Midwest		Brownsville		River		Southeast		West Coast		Central
	Terminals		Terminals		Terminals		Terminals		Terminals		Terminals		Services		Total
Revenue:
Terminal revenue	$	57,185	$	7,963	$	17,405	$	10,449	$	58,545	$	60,672	$	4,531	$	216,750
Product sales		—		—		—		—		—		168,172		—		168,172
Revenue	$	57,185	$	7,963	$	17,405	$	10,449	$	58,545	$	228,844	$	4,531	$	384,922
Capital expenditures	$	6,011	$	66	$	8,511	$	4,552	$	8,266	$	19,464	$	118	$	46,988