Segment Data (Tables)

3 Months Ended

Mar. 31, 2020

The following is a summary of business segment operating performance as measured by contribution margin for the periods indicated (in thousands):



	Three Months Ended March 31,
	2020			2019
Pipelines and Transportation
Net revenues:
Affiliate	$	38,502		$	36,659
Third party	9,465			3,974
Total pipelines and transportation	47,967			40,633
Cost of materials and other	6,098			5,567
Operating expenses (excluding depreciation and amortization)	11,456			10,834
Segment contribution margin	$	30,413		$	24,232
Capital spending	$	445		$	424

Wholesale Marketing and Terminalling
Net revenues:
Affiliate ⁽¹⁾	$	68,197		$	26,306
Third party	47,237			85,544
Total wholesale marketing and terminalling	115,434			111,850
Cost of materials and other	95,195			90,698
Operating expenses (excluding depreciation and amortization)	3,288			5,224
Segment contribution margin	$	16,951		$	15,928
Capital spending	$	2,583		$	480

Consolidated
Net revenues:
Affiliate	$	106,699		$	62,965
Third party	56,702			89,518
Total Consolidated	163,401			152,483
Cost of materials and other	101,293			96,265
Operating expenses (excluding depreciation and amortization presented below)	14,744			16,058
Contribution margin	47,364			40,160
General and administrative expenses	6,130			4,473
Depreciation and amortization	6,299			6,574
Other operating (income) expense, net	(107		)	2
Operating income	$	35,042		$	29,111
Capital spending	$	3,028		$	904

⁽¹⁾ Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the Marketing Contract Intangible Acquisition. See Note 3 for additional information.

The following table summarizes the total assets for each segment as of March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020		December 31, 2019
Pipelines and transportation	$	849,840	$	537,580
Wholesale marketing and terminalling	96,396		206,867
Total assets	$	946,236	$	744,447

Property, plant and equipment and accumulated depreciation as of March 31, 2020 and depreciation expense by reporting segment for the three months ended March 31, 2020 were as follows (in thousands):



	Pipelines and Transportation			Wholesale Marketing and Terminalling			Consolidated
Property, plant and equipment	$	556,418		$	109,300		$	665,718
Less: accumulated depreciation	(144,046		)	(42,203		)	(186,249		)
Property, plant and equipment, net	$	412,372		$	67,097		$	479,469
Depreciation expense for the three months ended March 31, 2020	$	4,606		$	1,693		$	6,299