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Revenue from Contract with Customers (Tables)
 9 Months Ended
Sep. 30, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of Prospective Adoption of New Accounting Pronouncements
The table below provides the amount by which financial statement line items are affected in the current reporting period by the application of the new revenue standard, as compared with the guidance that was in effect before the change (in thousands):
 
 
As Reported
 
Amounts without adoption of ASC 606
 
Effect of Change 
Higher/(Lower)
Statements of Income:
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
Transportation and terminals revenue
 
$
488,775

 
$
486,801

 
$
1,974

Depreciation and amortization
 
$
56,228

 
$
56,108

 
$
120

 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
Transportation and terminals revenue
 
$
1,392,960

 
$
1,383,404

 
$
9,556

Depreciation and amortization
 
$
161,726

 
$
161,486

 
$
240

 
 
 
 
 
 
 
Balance Sheet:
 
 
 
 
 
 
 
 
As of September 30, 2018
Assets:
 
 
 
 
 
 
Property, plant and equipment
 
$
7,570,759

 
$
7,555,758

 
$
15,001

Accumulated depreciation
 
1,835,824

 
1,835,259

 
565

Net property, plant and equipment
 
$
5,734,935

 
$
5,720,499

 
$
14,436

Investments in non-controlled entities
 
$
1,005,392

 
$
1,004,890

 
$
502

Liabilities:
 
 
 
 
 
 
Deferred revenue
 
$
121,247

 
$
129,458

 
$
(8,211
)
Other noncurrent liabilities
 
$
64,425

 
$
56,567

 
$
7,858

Partners’ capital:
 
 
 
 
 
 
Limited partner unitholders
 
$
2,665,620

 
$
2,650,329

 
$
15,291
Revenue from External Customers by Products and Services
The following tables provide details of our revenues disaggregated by key activities that comprise our performance obligations by operating segment (in thousands):
 
 
Three Months Ended September 30, 2018
 
 
Refined Products
 
Crude Oil
 
Marine Storage
 
Intersegment Eliminations
 
Total
Transportation
 
$
197,235

 
$
91,086

 
$
—

 
$
—

 
$
288,321

Terminalling
 
46,213

 
2,528

 
616

 
—

 
49,357

Storage
 
25,137

 
29,094

 
33,890

 
(923
)
 
87,198

Ancillary services
 
28,808

 
6,278

 
5,857

 
—

 
40,943

Lease revenue
 
2,641

 
16,132

 
4,183

 
—

 
22,956

Transportation and terminals revenue
 
300,034

 
145,118

 
44,546

 
(923
)
 
488,775

Product sales revenue
 
129,926

 
12,666

 
1,811

 
—

 
144,403

Affiliate management fee revenue
 
351

 
3,463

 
1,028

 
—

 
4,842

Total revenue
 
430,311

 
161,247

 
47,385

 
(923
)
 
638,020

Revenue not under the guidance of ASC 606:
 

 

 

 
 
 

Lease revenue(1)
 
(2,641
)
 
(16,132
)
 
(4,183
)
 
—

 
(22,956
)
Losses from futures contracts included in product sales revenue(2)
 
24,253

 
102

 
—

 
—

 
24,355

Affiliate management fee revenue
 
(351
)
 
(3,463
)
 
(1,028
)
 
—

 
(4,842
)
Total revenue from contracts with customers under ASC 606
 
$
451,572

 
$
141,754

 
$
42,174

 
$
(923
)
 
$
634,577


(1) Lease revenue is accounted for under ASC 840, Leases.
(2) The impact on product sales revenue from futures contracts falls under the guidance of ASC 815, Derivatives and Hedging.
 
 
Nine Months Ended September 30, 2018
 
 
Refined Products
 
Crude Oil
 
Marine Storage
 
Intersegment Eliminations
 
Total
Transportation
 
$
548,733

 
$
254,964

 
$
—

 
$
—

 
$
803,697

Terminalling
 
136,135

 
2,528

 
1,920

 
—

 
140,583

Storage
 
75,353

 
87,620

 
101,420

 
(2,753
)
 
261,640

Ancillary services
 
83,055

 
19,512

 
18,928

 
—

 
121,495

Lease revenue
 
8,216

 
44,705

 
12,624

 
—

 
65,545

Transportation and terminals revenue
 
851,492

 
409,329

 
134,892

 
(2,753
)
 
1,392,960

Product sales revenue
 
513,634

 
32,387

 
6,771

 
—

 
552,792

Affiliate management fee revenue
 
1,000

 
11,328

 
2,810

 
—

 
15,138

Total revenue
 
1,366,126

 
453,044

 
144,473

 
(2,753
)
 
1,960,890

Revenue not under the guidance of ASC 606:
 
 
 
 
 
 
 
 
 
 
Lease revenue(1)
 
(8,216
)
 
(44,705
)
 
(12,624
)
 
—

 
(65,545
)
Losses from futures contracts included in product sales revenue(2)
 
64,558

 
5,582

 
—

 
—

 
70,140

Affiliate management fee revenue
 
(1,000
)
 
(11,328
)
 
(2,810
)
 
—

 
(15,138
)
Total revenue from contracts with customers under ASC 606
 
$
1,421,468

 
$
402,593

 
$
129,039

 
$
(2,753
)
 
$
1,950,347


(1) Lease revenue is accounted for under ASC 840, Leases.
(2) The impact on product sales revenue from futures contracts falls under the guidance of ASC 815, Derivatives and Hedging.
Contract with Customer, Asset and Liability
The following table summarizes our accounts receivable, contract assets and contract liabilities resulting from contracts with customers (in thousands):
 
 
January 1, 2018
 
September 30, 2018
Accounts receivable from contracts with customers
 
$
133,084

 
$
135,269

Contract assets
 
$
8,615

 
$
8,053

Contract liabilities
 
$
106,933

 
$
119,841
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
The following table provides the aggregate amount of the transaction price allocated to our UPOs as of September 30, 2018 by operating segment, including the range of years remaining on our contracts with customers and an estimate of revenues expected to be recognized over the next 12 months (dollars in thousands):
 
 
Refined Products
 
Crude Oil
 
Marine Storage
 
Total
Balances at September 30, 2018
 
$
2,176,871

 
$
1,419,449

 
$
341,673

 
$
3,937,993

Remaining terms
 
1 - 20 years

 
1 - 10 years

 
1 - 6 years

 
 
Estimated revenues from UPOs to be recognized in the next 12 months
 
$
395,872

 
$
328,844

 
$
147,795

 
$
872,511