Segment Data (Tables)

6 Months Ended

Jun. 30, 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 June 30,					Six Months Ended June 30,
	2020		2019			2020			2019
Pipelines and Transportation
Net revenues:
Affiliate	$	61,394	$	36,731		$	99,897		$	73,390
Third party	$	2,032	7,477			11,496			11,451
Total pipelines and transportation	63,426		44,208			111,393			84,841
Cost of materials and other	11,182		7,357			17,280			12,924
Operating expenses (excluding depreciation and amortization)	9,731		12,728			21,187			23,562
Segment contribution margin	$	42,513	$	24,123		$	72,926		$	48,355
Capital spending	$	417	$	818		$	863		$	1,242

Wholesale Marketing and Terminalling
Net revenues:
Affiliate ⁽¹⁾	$	26,235	$	25,187		$	94,431		$	51,493
Third party	27,976		85,947			75,214			171,491
Total wholesale marketing and terminalling	54,211		111,134			169,645			222,984
Cost of materials and other	32,710		86,497			127,905			177,195
Operating expenses (excluding depreciation and amortization)	2,718		4,599			6,006			9,823
Segment contribution margin	$	18,783	$	20,038		$	35,734		$	35,966
Capital spending	$	235	$	524		$	2,818		$	1,004

Consolidated
Net revenues:
Affiliate	$	87,629	$	61,918		$	194,328		$	124,883
Third party	30,008		93,424			86,710			182,942
Total Consolidated	117,637		155,342			281,038			307,825
Cost of materials and other	43,892		93,854			145,185			190,119
Operating expenses (excluding depreciation and amortization presented below)	12,449		17,327			27,193			33,385
Contribution margin	$	61,296	$	44,161		108,660			84,321
General and administrative expenses	4,721		5,293			10,851			9,766
Depreciation and amortization	8,694		6,639			14,993			13,213
Other operating income, net	—		(27		)	(107		)	(25		)
Operating income	$	47,881	$	32,256		$	82,923		$	61,367
Capital spending	$	652	$	1,342		$	3,681		$	2,246

⁽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 June 30, 2020 and December 31, 2019 (in thousands):



	June 30, 2020		December 31, 2019
Pipelines and transportation	$	836,510	$	537,580
Wholesale marketing and terminalling	137,227		206,867
Total assets	$	973,737	$	744,447

Property, plant and equipment and accumulated depreciation as of June 30, 2020 and depreciation expense by reporting segment for the three and six months ended June 30, 2020 were as follows (in thousands):



	Pipelines and Transportation			Wholesale Marketing and Terminalling			Consolidated
Property, plant and equipment	$	566,780		$	114,189		$	680,969
Less: accumulated depreciation	(159,341		)	(47,884		)	(207,225		)
Property, plant and equipment, net	$	407,439		$	66,305		$	473,744
Depreciation expense for the three months ended June 30, 2020	$	6,947		$	1,674		$	8,621
Depreciation expense for the six months ended June 30, 2020	$	11,553		$	3,367		$	14,920