Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of inventories

Inventories consist of the following at the dates indicated:

	March 31,
	2024		2023
	(in thousands)
Crude oil	$	44,056	$	49,586
Propane	34,225		46,910
Butane	20,400		18,384
Biodiesel	18,919		19,778
Diesel	5,361		2,536
Other (1)	7,946		5,413
Total	$	130,907	$	142,607

(1)    Includes less than $0.1 million of ethanol inventory that was separately reported as an individual line item in our Annual Report on Form 10-K for the year ended March 31, 2023 (“2023 Annual Report”).

Schedule of investments in unconsolidated entities

Our investments in unconsolidated entities consist of the following at the dates indicated:

			March 31,
Entity	Segment	Ownership Interest	2024		2023
			(in thousands)
Water services and land company	Water Solutions	50%	$	15,228	$	15,036
Water services and land company	Water Solutions	10%	2,926		3,511
Water services and land company	Water Solutions	50%	2,026		2,071
Natural gas liquids terminal company	Liquids Logistics	50%	125		164
Aircraft company (1)	Corporate and Other	50%	—		308
Total			$	20,305	$	21,090

(1)    This is an investment with a related party. As the distributions we received exceeded our investment, a gain of $0.6 million was recorded within other income, net in our consolidated statement of operations for the year ended March 31, 2024 as the excess distributions are not refundable. The investee was dissolved on April 30, 2024.

Schedule of other noncurrent assets

Other noncurrent assets consist of the following at the dates indicated:

	March 31,
	2024		2023
	(in thousands)
Linefill (1)	$	37,861	$	37,861
Loan receivable (2)	4,776		8,592
Minimum shipping fees - pipeline commitments (3)	356		4,628
Other	9,745		6,896
Total	$	52,738	$	57,977

(1)    Represents minimum volumes of product we are required to leave on certain third-party owned pipelines under long-term shipment commitments. At March 31, 2024 and 2023, linefill consisted of 502,686 barrels of crude oil. Linefill held in pipelines we own is included within property, plant and equipment (see Note 4).

(2)    Represents the noncurrent portion of loan receivables, net of allowances for expected credit losses, primarily related to the sale of certain saltwater disposal assets (see Note 17). At March 31, 2024 and 2023, the loan receivable balance was $7.5 million and $8.6 million, respectively, of which $2.7 million, which includes interest receivable, is recorded within prepaid expenses and other current assets in our March 31, 2024 consolidated balance sheet.

(3)    Represents the noncurrent portion of minimum shipping fees paid in excess of volumes shipped, or deficiency credits, for a contract with a crude oil pipeline operator. This amount can be recovered when volumes shipped exceed the minimum monthly volume commitment. At March 31, 2024 and 2023, the deficiency credit was $4.6 million and $8.9 million, respectively, of which $4.3 million and $4.3 million, respectively, are recorded within prepaid expenses and other current assets in our consolidated balance sheets.

Schedule of accrued expenses and other payables

Accrued expenses and other payables consist of the following at the dates indicated:

	March 31,
	2024		2023
	(in thousands)
Accrued interest (1)	$	58,335	$	49,362
Derivative liabilities	36,679		14,752
Accrued compensation and benefits	34,708		27,013
Excise and other tax liabilities	18,003		11,777
Product exchange liabilities	3,366		4,047
Other (1)	62,666		26,665
Total	$	213,757	$	133,616

(1)    Includes amounts accrued related to the LCT Capital, LLC legal matter (see Note 8).

Amounts in the table above do not include accrued expenses and other payables related to the sale of certain freshwater water solutions facilities, as these amounts have been classified as liabilities held for sale within our March 31, 2024 consolidated balance sheet (see Note 17).