Revenues

Substantially all revenue-generating activities relate to sales of refined product and excess crude oil inventories sold at market prices (variable consideration) under contracts with customers. Additionally, we have revenues attributable to HEP logistics services provided under petroleum product and crude oil pipeline transportation, processing, storage and terminalling agreements with third parties.

Disaggregated revenues are as follows:



	Years Ended December 31,
	2018		2017		2016
	(In thousands)
Revenues by type
Refined product revenues
Transportation fuels⁽¹⁾	$	13,326,654	$	11,056,038	$	9,098,204
Specialty lubricant products ⁽²⁾	1,636,859		1,415,842		464,359
Asphalt, fuel oil and other products ⁽³⁾	985,234		743,394		422,644
Total refined product revenues	15,948,747		13,215,274		9,985,207
Excess crude oil revenues ⁽⁴⁾	1,597,321		891,756		436,974
Transportation and logistic services	108,412		77,225		68,927
Other revenues ⁽⁵⁾	60,186		67,044		44,592
Total sales and other revenues	$	17,714,666	$	14,251,299	$	10,535,700



	Years Ended December 31,
	2018		2017		2016
	(In thousands)
Refined product revenues by market
North America
Mid-Continent	$	8,427,200	$	7,099,754	$	6,077,634
Southwest	3,772,278		2,952,224		2,425,761
Rocky Mountains	2,476,044		2,055,221		1,481,812
Northeast	339,407		259,840		—
Canada	732,321		673,842		—
Europe and Asia	201,497		174,393		—
Total refined product revenues	$	15,948,747	$	13,215,274	$	9,985,207


(1)	Transportation fuels consist of gasoline, diesel and jet fuel.


(2)	Specialty lubricant products consist of base oil, waxes, finished lubricants and other specialty fluids.


(3)	Asphalt, fuel oil and other products revenue include revenues attributable to our Refining and Lubricants and Specialty Products segments of $822,587 and $162,647, respectively, for the year ended December 31, 2018, $565,200 and $178,194, respectively, for the year ended December 31, 2017, and $422,644 and zero, respectively, for the year ended December 31, 2016.


(4)	Excess crude oil revenues represent sales of purchased crude oil inventory that at times exceeds the supply needs of our refineries.


(5)	Other revenues are principally attributable to our Refining segment.

Our consolidated balance sheet reflects contract liabilities related to unearned revenues attributable to future service obligations under HEP’s third-party transportation agreements. The following table presents changes to contract liabilities during the year ended December 31, 2018.



	January 1, 2018		Increase		Recognized as Revenue			December 31, 2018
	(In thousands)
Accrued liabilities	$	179	$	6,748	$	(6,795	)	$	132

As of December 31, 2018, we have long-term contracts with customers that specify minimum volumes of gasoline, diesel, lubricants and specialty products to be sold ratably at market prices through 2021. Such volumes are typically nominated in the month preceding delivery and delivered ratably throughout the following month. Future prices are subject to market fluctuations and therefore, we have elected the exemption to exclude variable consideration under these contracts under Accounting Standards Codification 606-10-50-14A. Aggregate minimum volumes expected to be sold (future performance obligations) under our long-term product sales contracts with customers are as follows:



		2019	2020	2021	Thereafter	Total
	(In thousands)
Refined product sales volumes (barrels)		23,062	2,180	845	—	26,087

Additionally, HEP has long-term contracts with third-party customers that specify minimum volumes of product to be transported through its pipelines and terminals that result in fixed-minimum annual of revenues through 2022. Annual minimum revenues attributable to HEP’s third-party contracts as of December 31, 2018 are presented below:



		2019		2020		2021		Thereafter		Total
	(In thousands)
HEP contractual minimum revenues		$	42,022	$	18,073	$	10,867	$	1,686	$	72,648

We have no customers which have accounted for over 10% of our annual revenues for the years ended December 31, 2018, 2017 or 2016.