XML 70 R58.htm IDEA: XBRL DOCUMENT v3.23.3
Segments and Related Information - Schedule of Reportable segment information (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Reportable segment information          
Sales $ 1,149.4 $ 1,165.0 $ 3,204.1 $ 3,686.9  
Adjusted EBITDA 75.5 127.0 220.9 326.1  
Reconciling items to net income attributable to partners          
Depreciation and amortization 43.7 30.2 123.7 90.7  
LCM / LIFO (gain) loss (4.5) (0.5) 9.4 (7.7)  
Gain on impairment and disposal of assets   (0.2)   (0.2)  
Interest expense 58.7 41.8 163.7 136.0  
Debt extinguishment costs 0.3 40.4 5.5 41.4  
Unrealized (gain) loss on derivatives 36.3 (28.1) (18.8) 47.5  
RINs mark-to-market gain (173.4) 14.3 (215.9) 92.4  
Other non-recurring expenses (income) 2.4 (0.2) 35.5 2.6  
Equity based compensation and other items 13.8 13.0 22.5 16.6  
Income tax expense 0.5 1.5 1.4 2.8  
Noncontrolling interest adjustments (5.3) (0.9) (19.3) (0.9)  
Net income (loss) attributable to partners 103.0 15.7 113.2 (95.1)  
Capital expenditures 48.0 212.2 269.2 408.5  
PP&E, net 1,526.9 1,329.4 1,526.9 1,329.4 $ 1,482.0
External customers          
Reportable segment information          
Sales 1,149.4 1,165.0 3,204.1 3,686.9  
Eliminations          
Reportable segment information          
Sales (2.6) (7.1) (13.3) (19.7)  
Eliminations | Inter-segment sales          
Reportable segment information          
Sales (2.6) (7.1) (13.3) (19.7)  
Specialty Products and Solutions          
Reconciling items to net income attributable to partners          
Gain on business interruption insurance recovery 7.1   9.5 13.9  
Property damage insurance proceeds       4.4  
Specialty Products and Solutions | Operating Segments          
Reportable segment information          
Sales 748.2 941.7 2,181.6 2,702.9  
Adjusted EBITDA 38.7 131.7 176.1 283.3  
Reconciling items to net income attributable to partners          
Depreciation and amortization 19.0 15.6 54.2 47.6  
LCM / LIFO (gain) loss (4.4) 2.1 (1.7) (1.3)  
Interest expense 7.1 7.2 20.4 24.0  
Unrealized (gain) loss on derivatives 26.2 (29.3) (22.6) 41.8  
RINs mark-to-market gain (118.3) 9.2 (146.9) 60.0  
Capital expenditures 25.4 15.0 65.4 45.3  
PP&E, net 375.7 374.6 375.7 374.6  
Specialty Products and Solutions | Operating Segments | External customers          
Reportable segment information          
Sales 745.7 934.6 2,168.5 2,683.2  
Specialty Products and Solutions | Operating Segments | Inter-segment sales          
Reportable segment information          
Sales 2.5 7.1 13.1 19.7  
Performance Brands          
Reconciling items to net income attributable to partners          
Gain on business interruption insurance recovery 3.2   8.2    
Performance Brands | Operating Segments          
Reportable segment information          
Sales 75.3 76.4 239.7 229.7  
Adjusted EBITDA 13.2 8.5 41.8 17.5  
Reconciling items to net income attributable to partners          
Depreciation and amortization 2.5 2.9 7.4 8.5  
LCM / LIFO (gain) loss 0.1 (0.3) 2.2 (0.5)  
Interest expense     0.1 1.1  
Capital expenditures 0.4 0.7 1.4 1.6  
PP&E, net 33.2 34.0 33.2 34.0  
Performance Brands | Operating Segments | External customers          
Reportable segment information          
Sales 75.2 76.4 239.5 229.7  
Performance Brands | Operating Segments | Inter-segment sales          
Reportable segment information          
Sales 0.1   0.2    
Montana/Renewables          
Reconciling items to net income attributable to partners          
Inventory firm purchase commitment     28.4    
Montana/Renewables | Operating Segments          
Reportable segment information          
Sales 328.5 154.0 796.1 774.0  
Adjusted EBITDA 38.2 11.3 55.6 88.9  
Reconciling items to net income attributable to partners          
Depreciation and amortization 21.9 9.9 61.3 28.9  
LCM / LIFO (gain) loss (0.2) (2.3) 8.9 (5.9)  
Gain on impairment and disposal of assets   (0.2)   (0.2)  
Interest expense 18.4 6.7 48.3 25.5  
Debt extinguishment costs   38.3   38.3  
Unrealized (gain) loss on derivatives 10.1 1.2 3.8 5.7  
RINs mark-to-market gain (55.1) 5.1 (69.0) 32.4  
Capital expenditures 22.1 196.3 202.0 361.3  
PP&E, net 1,116.0 917.7 1,116.0 917.7  
Montana/Renewables | Operating Segments | External customers          
Reportable segment information          
Sales 328.5 154.0 796.1 774.0  
Corporate | Operating Segments          
Reportable segment information          
Adjusted EBITDA (14.6) (24.5) (52.6) (63.6)  
Reconciling items to net income attributable to partners          
Depreciation and amortization 0.3 1.8 0.8 5.7  
Interest expense 33.2 27.9 94.9 85.4  
Debt extinguishment costs 0.3 2.1 5.5 3.1  
Capital expenditures 0.1 0.2 0.4 0.3  
PP&E, net $ 2.0 $ 3.1 $ 2.0 $ 3.1