Note 20—Segment Information

We report the results for the following four business segments: (i) Refining, (ii) Retail, (iii) Logistics, and (iv) Corporate and Other. Beginning in the third quarter of 2016, the results of operations of Wyoming Refining are included in our refining and logistics segments, and, beginning in the first quarter of 2018, the results of operations of Northwest Retail are included in our retail segment.

We recast the segment information for the years ended December 31, 2016 to reflect the elimination of the Texadian segment as a reportable segment beginning in the first quarter of 2017. As of December 31, 2017, Texadian had ceased its business operations other than the disposal of certain assets and liquidation of inventory. Our Corporate and Other reportable segment now primarily includes general and administrative costs.

Summarized financial information concerning reportable segments consists of the following (in thousands):



For the year ended December 31, 2018	Refining		Logistics		Retail		Corporate, Eliminations, and Other (1)			Total
Revenues	$	3,210,067	$	125,743	$	441,040	$	(366,122	)	$	3,410,728
Cost of revenues (excluding depreciation)	2,957,995		77,712		333,664		(366,255		)	3,003,116
Operating expense (excluding depreciation)	146,320		7,782		61,182		—			215,284
Depreciation, depletion, and amortization	32,483		6,860		8,962		4,337			52,642
General and administrative expense (excluding depreciation)	—		—		—		47,426			47,426
Acquisition and integration costs	—		—		—		10,319			10,319
Operating income (loss)	$	73,269	$	33,389	$	37,232	$	(61,949	)	$	81,941
Interest expense and financing costs, net										(39,768		)
Debt extinguishment and commitment costs										(4,224		)
Other income, net										1,046
Change in value of common stock warrants										1,801
Change in value of contingent consideration										(10,500		)
Equity earnings from Laramie Energy, LLC										9,464
Income before income taxes										39,760
Income tax expense										(333		)
Net income										$	39,427

Total assets	$	968,623	$	130,138	$	201,848	$	160,125		$	1,460,734
Goodwill	53,264		37,373		62,760		—			153,397
Capital expenditures	25,601		13,055		6,101		3,682			48,439

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(1)	Includes eliminations of intersegment revenues and cost of revenues of $365.5 million for the year ended December 31, 2018.



For the year ended December 31, 2017	Refining		Logistics		Retail		Corporate, Eliminations, and Other (1)			Total
Revenues	$	2,319,638	$	121,470	$	326,076	$	(324,118	)	$	2,443,066
Cost of revenues (excluding depreciation)	2,062,804		66,301		249,097		(323,575		)	2,054,627
Operating expense (excluding depreciation)	141,065		15,010		45,941		—			202,016
Depreciation, depletion, and amortization	29,753		6,166		6,338		3,732			45,989
General and administrative expense (excluding depreciation)	—		—		—		46,078			46,078
Acquisition and integration costs	—		—		—		395			395
Operating income (loss)	$	86,016	$	33,993	$	24,700	$	(50,748	)	$	93,961
Interest expense and financing costs, net										(31,632		)
Debt extinguishment and commitment costs										(8,633		)
Other income, net										911
Change in value of common stock warrants										(1,674		)
Equity earnings from Laramie Energy, LLC										18,369
Income before income taxes										71,302
Income tax benefit										1,319
Net income										$	72,621

Total assets	$	949,588	$	118,304	$	128,966	$	150,549		$	1,347,407
Goodwill	53,264		37,373		16,550		—			107,187
Capital expenditures	10,433		8,836		7,073		5,366			31,708

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(1)	Includes eliminations of intersegment revenues and cost of revenues of $325.2 million for the year ended December 31, 2017.



For the year ended December 31, 2016	Refining			Logistics		Retail		Corporate, Eliminations, and Other (1)			Total
Revenues	$	1,702,463		$	102,779	$	290,402	$	(230,599	)	$	1,865,045
Cost of revenues (excluding depreciation)	1,580,014			65,439		220,545		(229,659		)	1,636,339
Operating expense (excluding depreciation)	115,818			11,239		41,291		1,023			169,371
Depreciation, depletion, and amortization	17,565			4,679		6,372		3,001			31,617
General and administrative expense (excluding depreciation)	—			—		—		42,073			42,073
Acquisition and integration costs	—			—		—		5,294			5,294
Operating income (loss)	$	(10,934	)	$	21,422	$	22,194	$	(52,331	)	$	(19,649	)
Interest expense and financing costs, net											(28,506		)
Debt extinguishment and commitment costs											—
Gain on curtailment of pension obligation											3,067
Other expense, net											(10		)
Change in value of common stock warrants											2,962
Change in value of contingent consideration											10,770
Equity losses from Laramie Energy, LLC											(22,381		)
Loss before income taxes											(53,747		)
Income tax benefit											7,912
Net loss											$	(45,835	)

Total assets	$	772,438		$	120,443	$	122,570	$	129,982		$	1,145,433
Goodwill	53,037			36,145		16,550		—			105,732
Capital expenditures	15,106			1,344		4,375		4,008			24,833

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(1)	Includes eliminations of intersegment revenues and cost of revenues of $271.9 million for the year ended December 31, 2016.