Revenue from Contract with Customers (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

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 June 30, 2018
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation	$	184,596		$	84,755		$	—		$	—		$	269,351
Terminalling	50,574			—			592			—			51,166
Storage	24,969			28,536			33,319			(915		)	85,909
Ancillary services	28,459			8,199			6,037			—			42,695
Lease revenue	2,466			16,463			4,198			—			23,127
Transportation and terminals revenue	291,064			137,953			44,146			(915		)	472,248
Product sales revenue	150,934			13,282			2,581			—			166,797
Affiliate management fee revenue	352			3,849			845			—			5,046
Total revenue	442,350			155,084			47,572			(915		)	644,091
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers:
Lease revenue⁽¹⁾	(2,466		)	(16,463		)	(4,198		)	—			(23,127		)
Losses from futures contracts included in product sales revenue⁽²⁾	34,840			3,570			—			—			38,410
Affiliate management fee revenue	(352		)	(3,849		)	(845		)	—			(5,046		)
Total revenue from contracts with customers under ASC 606	$	474,372		$	138,342		$	42,529		$	(915	)	$	654,328

⁽¹⁾Lease revenue in 2018 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.



	Three Months Ended June 30, 2019
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation	$	201,173		$	91,534		$	—		$	—		$	292,707
Terminalling	48,554			4,723			690			—			53,967
Storage	25,471			34,972			34,485			(1,341		)	93,587
Ancillary services	28,128			6,611			6,581			—			41,320
Lease revenue	2,889			17,729			4,206			—			24,824
Transportation and terminals revenue	306,215			155,569			45,962			(1,341		)	506,405
Product sales revenue	183,211			5,295			1,483			—			189,989
Affiliate management fee revenue	470			3,646			1,189			—			5,305
Total revenue	489,896			164,510			48,634			(1,341		)	701,699
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers:
Lease revenue⁽¹⁾	(2,889		)	(17,729		)	(4,206		)	—			(24,824		)
(Gains) losses from futures contracts included in product sales revenue⁽²⁾	4,713			(95		)	—			—			4,618
Affiliate management fee revenue	(470		)	(3,646		)	(1,189		)	—			(5,305		)
Total revenue from contracts with customers under ASC 606	$	491,250		$	143,040		$	43,239		$	(1,341	)	$	676,188

⁽¹⁾Lease revenue in 2019 is accounted for under ASC 842, Leases.

⁽²⁾ The impact on product sales revenue from futures contracts falls under the guidance of ASC 815, Derivatives and Hedging.



	Six Months Ended June 30, 2018
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation	$	351,498		$	163,878		$	—		$	—		$	515,376
Terminalling	89,922			—			1,304			—			91,226
Storage	50,216			58,526			67,530			(1,830		)	174,442
Ancillary services	54,247			13,234			13,071			—			80,552
Lease revenue	5,575			28,573			8,441			—			42,589
Transportation and terminals revenue	551,458			264,211			90,346			(1,830		)	904,185
Product sales revenue	383,708			19,721			4,960			—			408,389
Affiliate management fee revenue	649			7,865			1,782			—			10,296
Total revenue	935,815			291,797			97,088			(1,830		)	1,322,870
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers:
Lease revenue⁽¹⁾	(5,575		)	(28,573		)	(8,441		)	—			(42,589		)
Losses from futures contracts included in product sales revenue⁽²⁾	40,305			5,480			—			—			45,785
Affiliate management fee revenue	(649		)	(7,865		)	(1,782		)	—			(10,296		)
Total revenue from contracts with customers under ASC 606	$	969,896		$	260,839		$	86,865		$	(1,830	)	$	1,315,770

⁽¹⁾Lease revenue in 2018 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.



	Six Months Ended June 30, 2019
	Refined Products			Crude Oil			Marine Storage			Intersegment Eliminations			Total
Transportation	$	372,200		$	176,692		$	—		$	—		$	548,892
Terminalling	88,952			9,969			1,589			—			100,510
Storage	51,910			69,290			69,703			(2,279		)	188,624
Ancillary services	54,024			12,632			13,466			—			80,122
Lease revenue	6,134			34,594			8,321			—			49,049
Transportation and terminals revenue	573,220			303,177			93,079			(2,279		)	967,197
Product sales revenue	338,367			11,008			3,609			—			352,984
Affiliate management fee revenue	882			7,132			2,439			—			10,453
Total revenue	912,469			321,317			99,127			(2,279		)	1,330,634
Revenue not under the guidance of ASC 606, Revenue from Contracts with Customers:
Lease revenue⁽¹⁾	(6,134		)	(34,594		)	(8,321		)	—			(49,049		)
Losses from futures contracts included in product sales revenue⁽²⁾	56,822			2,307			—			—			59,129
Affiliate management fee revenue	(882		)	(7,132		)	(2,439		)	—			(10,453		)
Total revenue from contracts with customers under ASC 606	$	962,275		$	281,898		$	88,367		$	(2,279	)	$	1,330,261

⁽¹⁾Lease revenue in 2019 is accounted for under ASC 842, 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):



	December 31, 2018		June 30, 2019
Accounts receivable from contracts with customers	$	102,684	$	134,506
Contract assets	$	8,487	$	8,226
Contract liabilities	$	122,129	$	115,692

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table provides the aggregate amount of the transaction price allocated to our unfulfilled performance obligations (“UPOs”) as of June 30, 2019 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 June 30, 2019	$	2,052,375	$	1,244,128	$	221,848	$	3,518,351
Remaining terms	1 - 19 years		1 - 10 years		1 - 5 years
Estimated revenues from UPOs to be recognized in the next 12 months	$	273,714	$	330,830	$	114,166	$	718,710