Segments and Related Information (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Reportable Segment Information

Reportable segment information for the three months ended June 30, 2020 and 2019, is as follows (in millions):

Three Months Ended June 30, 2020	Specialty Products			Fuel Products			Corporate			Eliminations			Consolidated Total
Sales:
External customers	$	232.7		$	221.0		$	—		$	—		$	453.7
Inter-segment sales	11.2			4.8			—			(16.0		)	—
Total sales	$	243.9		$	225.8		$	—		$	(16.0	)	$	453.7
Adjusted EBITDA	$	56.1		$	1.9		$	(17.0	)	$	—		$	41.0
Reconciling items to net income:
Depreciation and amortization	10.1			17.8			1.9			—			29.8
LCM / LIFO gain	(4.2		)	(27.9		)	—			—			(32.1		)
Loss on impairment and disposal of assets	—			0.1			0.6			—			0.7
Interest expense	—			(0.4		)	31.0			—			30.6
Unrealized (gain) loss on derivatives	(0.4		)	1.6			—			—			1.2
Equity-based compensation and other items													7.0
Income tax expense													0.2
Net income													$	3.6
Three Months Ended June 30, 2019	Specialty Products			Fuel Products			Corporate			Eliminations			Consolidated Total
Sales:
External customers	$	344.4		$	552.5		$	—		$	—		$	896.9
Inter-segment sales	24.4			12.4			—			(36.8		)	—
Total sales	$	368.8		$	564.9		$	—		$	(36.8	)	$	896.9
Adjusted EBITDA	$	55.1		$	50.2		$	(28.3	)	$	—		$	77.0
Reconciling items to net loss:
Depreciation and amortization	12.2			18.5			1.9			—			32.6
LCM / LIFO gain	0.4			(3.0		)	—			—			(2.6		)
Loss on impairment and disposal of assets	—			0.1			16.1			—			16.2
Interest expense	—			4.3			28.8			—			33.1
Gain on debt extinguishment	—			—			(0.3		)	—			(0.3		)
Unrealized loss on derivatives	7.6			4.6			—			—			12.2
Equity-based compensation and other items													2.3
Income tax expense													0.3
Net loss													$	(16.8	)

Reportable segment information for the six months ended June 30, 2020 and 2019, is as follows (in millions):

Six Months Ended June 30, 2020	Specialty Products			Fuel Products			Corporate			Eliminations			Consolidated Total
Sales:
External customers	$	559.6		$	586.7		$	—		$	—		$	1,146.3
Inter-segment sales	28.6			12.8			—			(41.4		)	—
Total sales	$	588.2		$	599.5		$	—		$	(41.4	)	$	1,146.3
Adjusted EBITDA	$	120.6		$	41.1		$	(37.0	)	$	—		$	124.7
Reconciling items to net loss:
Depreciation and amortization	21.9			35.6			3.8			—			61.3
LCM / LIFO loss	18.0			16.4			—			—			34.4
Loss on impairment and disposal of assets	1.5			0.1			5.1			—			6.7
Interest expense	—			(2.1		)	62.0			—			59.9
Unrealized gain on derivatives	(0.1		)	(30.3		)	—			—			(30.4		)
Other non-recurring income													(1.2		)
Equity-based compensation and other items													4.1
Income tax expense													0.7
Net loss													$	(10.8	)
Six Months Ended June 30, 2019	Specialty Products			Fuel Products			Corporate			Eliminations			Consolidated Total
Sales:
External customers	$	696.6		$	1,051.6		$	—		$	—		$	1,748.2
Inter-segment sales	47.2			23.4			—			(70.6		)	—
Total sales	$	743.8		$	1,075.0		$	—		$	(70.6	)	$	1,748.2
Income from unconsolidated affiliates	$	3.8		$	—		$	—		$	—		$	3.8
Adjusted EBITDA	$	113.5		$	76.1		$	(52.9	)	$	—		$	136.7
Reconciling items to net loss:
Depreciation and amortization	23.7			38.2			3.7			—			65.6
LCM / LIFO gain	(5.3		)	(35.3		)	—			—			(40.6		)
Loss on impairment and disposal of assets	—			11.8			16.1			—			27.9
Interest expense	—			7.1			58.3			—			65.4
Gain on debt extinguishment	—			—			(0.7		)	—			(0.7		)
Unrealized loss on derivatives	8.1			6.7			—			—			14.8
Gain on sale of unconsolidated affiliate	(1.2		)	—			—			—			(1.2		)
Equity-based compensation and other items													5.7
Income tax expense													0.2
Net loss													$	(0.4	)

Schedule of Major Product Category Sales

The following table sets forth the major product category sales for each of the Specialty products and Fuel products segments for the three months ended June 30, 2020 and 2019 (dollars in millions):

	Three Months Ended June 30,
	2020				2019
Specialty products:
Lubricating oils	$	91.4	20.1	%	$	152.5	17.0	%
Solvents	47.3		10.4	%	80.7		9.0	%
Waxes	27.9		6.2	%	31.6		3.5	%
Packaged and synthetic specialty products	58.8		13.0	%	60.7		6.8	%
Other	7.3		1.6	%	18.9		2.1	%
Total	$	232.7	51.3	%	$	344.4	38.4	%
Fuel products:
Gasoline	$	67.4	14.9	%	$	183.8	20.5	%
Diesel	98.6		21.7	%	218.1		24.3	%
Jet fuel	10.4		2.3	%	40.7		4.5	%
Asphalt, heavy fuel oils and other	44.6		9.8	%	109.9		12.3	%
Total	$	221.0	48.7	%	$	552.5	61.6	%
Consolidated sales	$	453.7	100.0	%	$	896.9	100.0	%

The following table sets forth the major product category sales for the six months ended June 30, 2020 and 2019 (dollars in millions):

	Six Months Ended June 30,
	2020				2019
Specialty products:
Lubricating oils	$	230.0	20.1	%	$	304.6	17.4	%
Solvents	124.4		10.9	%	168.1		9.6	%
Waxes	58.4		5.0	%	62.5		3.6	%
Packaged and synthetic specialty products	116.5		10.2	%	120.6		6.9	%
Other	30.3		2.6	%	40.8		2.3	%
Total	$	559.6	48.8	%	$	696.6	39.8	%
Fuel products:
Gasoline	$	188.3	16.4	%	$	341.4	19.6	%
Diesel	252.4		22.0	%	444.0		25.4	%
Jet fuel	36.3		3.2	%	61.3		3.5	%
Asphalt, heavy fuel oils and other	109.7		9.6	%	204.9		11.7	%
Total	$	586.7	51.2	%	$	1,051.6	60.2	%
Consolidated sales	$	1,146.3	100.0	%	$	1,748.2	100.0	%