XML 103 R86.htm IDEA: XBRL DOCUMENT v3.24.1
SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($)
$ in Thousands
1 Months Ended 12 Months Ended
Jul. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues        
Revenue   $ 320,472 $ 261,966 $ 120,219
Expenses        
Operating expenses   253,672 208,157 98,541
General and administrative   12,833 10,891 8,737
Acquisition and transaction expenses   4,140 16,844 14,826
Depreciation and amortization   80,992 70,749 54,016
Asset impairment   743 0 0
Total expenses   364,847 319,605 191,758
Other income (expense)        
Equity in losses of unconsolidated entities   (24,707) (67,399) (13,499)
Loss on sale of assets, net   6,855 (1,603) 16
Loss on extinguishment of debt $ 1,100 (2,036) 0 0
Interest expense   (99,603) (53,239) (16,019)
Other income (expense)   6,586 (3,169) (8,930)
Total other expense   (112,905) (125,410) (38,432)
Income (loss) before income taxes   (157,280) (183,049) (109,971)
Provision for (benefit from) income taxes   2,470 4,468 (3,630)
Net (loss) income from continuing operations   (159,750) (187,517) (106,341)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   (38,414) (33,933) (26,472)
Less: Dividends and accretion of redeemable preferred stock   62,400 23,657  
Net income (loss) attributable to stockholders and Former Parent   (183,736) (177,241) (79,869)
Interest expense   99,603 53,239 16,019
Management fee   12,467 12,964 15,638
Operating Segments | Infrastructure [Member]        
Other income (expense)        
Loss on extinguishment of debt   0    
Operating Segments | Railroad        
Revenues        
Revenue   169,445 149,661 62,250
Expenses        
Operating expenses   92,972 84,863 35,824
General and administrative   0 0 0
Acquisition and transaction expenses   737 763 2,841
Depreciation and amortization   19,590 20,164 8,951
Asset impairment   743    
Total expenses   114,042 105,790 47,616
Other income (expense)        
Equity in losses of unconsolidated entities   0 0 0
Loss on sale of assets, net   (437) (1,603) 0
Loss on extinguishment of debt   900    
Interest expense   (2,284) (212) (60)
Other income (expense)   (2,164) (1,632) (422)
Total other expense   (5,822) (3,447) (482)
Income (loss) before income taxes   49,581 40,424 14,152
Provision for (benefit from) income taxes   (561) 1,287 64
Net (loss) income from continuing operations   50,142 39,137 14,088
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   143 15 0
Less: Dividends and accretion of redeemable preferred stock   0 0  
Net income (loss) attributable to stockholders and Former Parent   49,999 39,122 14,088
Management fee   0 0 0
Operating Segments | Railroad | Infrastructure [Member]        
Other income (expense)        
Loss on extinguishment of debt   (937)    
Operating Segments | Jefferson Terminal        
Revenues        
Revenue   72,146 60,289 46,352
Expenses        
Operating expenses   66,576 56,417 48,255
General and administrative   0 0 0
Acquisition and transaction expenses   1,370 64 0
Depreciation and amortization   48,916 39,318 36,013
Asset impairment   0    
Total expenses   116,862 95,799 84,268
Other income (expense)        
Equity in losses of unconsolidated entities   0 0 0
Loss on sale of assets, net   7,292 0 0
Interest expense   (32,443) (24,798) (14,812)
Other income (expense)   (1,302) (4,317) (4,726)
Total other expense   (26,453) (29,115) (19,538)
Income (loss) before income taxes   (71,169) (64,625) (57,454)
Provision for (benefit from) income taxes   2,468 3,016 229
Net (loss) income from continuing operations   (73,637) (67,641) (57,683)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   (36,917) (32,018) (26,250)
Less: Dividends and accretion of redeemable preferred stock   0 0  
Net income (loss) attributable to stockholders and Former Parent   (36,720) (35,623) (31,433)
Management fee   0 0 0
Operating Segments | Repauno        
Revenues        
Revenue   10,691 4,117 11,617
Expenses        
Operating expenses   22,203 17,072 14,304
General and administrative   0 0 0
Acquisition and transaction expenses   0 0 0
Depreciation and amortization   9,336 9,322 9,052
Asset impairment   0    
Total expenses   31,539 26,394 23,356
Other income (expense)        
Equity in losses of unconsolidated entities   0 0 0
Loss on sale of assets, net   0 0 16
Interest expense   (2,557) (1,590) (1,147)
Other income (expense)   0 0 0
Total other expense   (2,557) (1,590) (1,131)
Income (loss) before income taxes   (23,405) (23,867) (12,870)
Provision for (benefit from) income taxes   496 165 0
Net (loss) income from continuing operations   (23,901) (24,032) (12,870)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   (1,412) (1,242) (222)
Less: Dividends and accretion of redeemable preferred stock   0 0  
Net income (loss) attributable to stockholders and Former Parent   (22,489) (22,790) (12,648)
Management fee   0 0 0
Operating Segments | Power and Gas        
Revenues        
Revenue   0 0 0
Expenses        
Operating expenses   2,726 826 99
General and administrative   0 0 0
Acquisition and transaction expenses   94 458 0
Depreciation and amortization   0 0 0
Asset impairment   0    
Total expenses   2,820 1,284 99
Other income (expense)        
Equity in losses of unconsolidated entities   (9,949) (60,538) (13,597)
Loss on sale of assets, net   0 0 0
Interest expense   (3) 0 0
Other income (expense)   7,523 524 (3,782)
Total other expense   (2,429) (60,014) (17,379)
Income (loss) before income taxes   (5,249) (61,298) (17,478)
Provision for (benefit from) income taxes   0 0 (3,930)
Net (loss) income from continuing operations   (5,249) (61,298) (13,548)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   0 0 0
Less: Dividends and accretion of redeemable preferred stock   0 0  
Net income (loss) attributable to stockholders and Former Parent   (5,249) (61,298) (13,548)
Management fee   0 0 0
Operating Segments | Sustainability and Energy Transition        
Revenues        
Revenue   0 0 0
Expenses        
Operating expenses   29 10 0
General and administrative   0 0 0
Acquisition and transaction expenses   1 280 0
Depreciation and amortization   0 0 0
Asset impairment   0    
Total expenses   30 290 0
Other income (expense)        
Equity in losses of unconsolidated entities   (14,814) (7,012) (372)
Loss on sale of assets, net   0 0 0
Interest expense   0 0 0
Other income (expense)   2,529 2,123 0
Total other expense   (12,285) (4,889) (372)
Income (loss) before income taxes   (12,315) (5,179) (372)
Provision for (benefit from) income taxes   0 0 0
Net (loss) income from continuing operations   (12,315) (5,179) (372)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   0 0 0
Less: Dividends and accretion of redeemable preferred stock   0 0  
Net income (loss) attributable to stockholders and Former Parent   (12,315) (5,179) (372)
Management fee   0 0 0
Operating Segments | Power and Gas | Infrastructure [Member]        
Other income (expense)        
Loss on extinguishment of debt   0    
Corporate, Non-Segment        
Revenues        
Revenue   68,190 47,899 0
Expenses        
Operating expenses   69,166 48,969 59
General and administrative   12,833 10,891 8,737
Acquisition and transaction expenses   1,938 15,279 11,985
Depreciation and amortization   3,150 1,945 0
Asset impairment   0    
Total expenses   99,554 90,048 36,419
Other income (expense)        
Equity in losses of unconsolidated entities   56 151 470
Loss on sale of assets, net   0 0 0
Loss on extinguishment of debt   (1,099)    
Interest expense   (62,316) (26,639) 0
Other income (expense)   0 133 0
Total other expense   (63,359) (26,355) 470
Income (loss) before income taxes   (94,723) (68,504) (35,949)
Provision for (benefit from) income taxes   67 0 7
Net (loss) income from continuing operations   (94,790) (68,504) (35,956)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries   (228) (688) 0
Less: Dividends and accretion of redeemable preferred stock   62,400 23,657  
Net income (loss) attributable to stockholders and Former Parent   (156,962) (91,473) (35,956)
Management fee   $ 12,467 $ 12,964 $ 15,638