Concentration of Risks

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration of Risks

Concentration of Risks

We transport, store and distribute petroleum products for refiners, producers, marketers, traders and end users of those products. Our revenue producing activities are concentrated in the central U.S. Concentrations of customers may affect our overall credit risk as our customers may be similarly affected by changes in economic, regulatory or other factors. We generally secure transportation and storage revenue with warehouseman’s liens. We periodically evaluate the financial condition and creditworthiness of our customers and require additional security as we deem necessary.

As of December 31, 2022, we had 1,655 employees, primarily concentrated in the central U.S. There were 855 employees assigned to our refined products segment, 248 employees assigned to our crude oil segment and 552 employees assigned to provide G&A services. Approximately 13% of our employees are represented by the United Steelworkers and covered by a collective bargaining agreement that expires in January 2026.