XML 28 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
NON-CONTROLLING INTERESTS
 6 Months Ended
Jun. 30, 2024
Noncontrolling Interest [Abstract]  
NON-CONTROLLING INTERESTS NON-CONTROLLING INTERESTS
Vertex Recovery Management LA, LLC
On May 25, 2016, Vertex Recovery Management, LLC, our wholly-owned subsidiary ("VRM") and Industrial Pipe, Inc. ("Industrial Pipe"), formed a joint venture through a Louisiana limited liability company, Vertex Recovery Management LA, LLC ("VRMLA"). VRM owns 51% and Industrial Pipe owns 49% of VRMLA. VRMLA is currently buying and preparing ferrous and non-ferrous scrap intended for large haul barge sales. We consolidated 100% of VRMLA's net loss for the period ended June 30, 2024 and 2023, respectively, and then added the loss attributable to the non-controlling interest back to the Company's "Net income attributable to Vertex Energy, Inc." in the Consolidated Statements of Operations. The below table represents the net loss of VRMLA for the periods ended June 30, 2024 and 2023 (in thousands).
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net loss consolidated$(147)$(108)$(392)$(209)
Net loss attributed to Non-controlling entity$(72)$(53)$(192)$(103)