Transactions with Major Customers and Concentration of Credit Risk

12 Months Ended

Dec. 31, 2018

Transactions with Major Customers and Concentration of Credit Risk

Our Parent and its affiliates accounted for 59.7%, 49.9% and 44.5% of our total revenues for 2018, 2017 and 2016, respectively. The following table shows revenues from third party customers that accounted for a 10% or greater share of consolidated revenues for the indicated years:


	2018		2017		2016
Customer C	$	64.5	$	70.3	$	72.9

The following table shows accounts receivable from third party customers that accounted for a 10% or greater share of consolidated net accounts receivable for the indicated years:


	December 31,
	2018		2017		2016
Customer C	$	5.2	$	5.8	$	6.3

We have a concentration of revenues and trade receivables due from customers in the same industry, our Parent’s affiliates, integrated oil companies, marketers, and independent exploration, production and refining companies primarily within the Gulf Coast region of the U.S. These concentrations of customers may impact our overall exposure to credit risk as they may be similarly affected by changes in economic, regulatory, regional and other factors. We are potentially exposed to concentration of credit risk primarily through our accounts receivable with our Parent. These receivables have payment terms of 30 days or less, and there has been no history of collectability issues. We monitor the creditworthiness of third-party major customers. We manage our exposure to credit risk through credit analysis, credit limit approvals and monitoring procedures, and for certain

transactions, we may request letters of credit, prepayments or guarantees. As of December 31, 2018 and 2017, there were no such arrangements. We have concentrated credit risk for cash by maintaining deposits in a major bank, which may at times exceed amounts covered by insurance provided by the United States Federal Deposit Insurance Corporation (“FDIC”). We monitor the financial health of the bank and have not experienced any losses in such accounts and believe we are not exposed to any significant credit risk. As of December 31, 2018, we had approximately $207.3 million in cash and cash equivalents in excess of FDIC limits.