XML 50 R37.htm IDEA: XBRL DOCUMENT v3.6.0.2
Goodwill (Tables)
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table represents the goodwill balance at December 31, 2015, changes during the year, and the resulting balances at December 31, 2016:
 
2015
 
Impairment1
 
CCCT Assets2
 
2016
Carrying amount of goodwill:
 
 
 
 
 
 
 
   Terminalling and storage
$
14,229

 
$
—

 
$
(2,361
)
 
$
11,868

   Natural gas services
79

 
—

 
—

 
$
79

   Sulfur services
5,349

 
—

 
—

 
$
5,349

   Marine transportation
4,145

 
(4,145
)
 
—

 
$
—

        Total goodwill
$
23,802

 
$
(4,145
)
 
$
(2,361
)
 
$
17,296



1 During the second quarter of 2016, the Partnership determined that the state of market conditions in the Marine Transportation reporting unit, including the demand for utilization, day rates and the current oversupply of inland tank barges, indicated that an impairment of goodwill may exist. As a result, the Partnership assessed qualitative factors and determined that the Partnership could not conclude it was more likely than not that the fair value of goodwill exceeded its carrying value. In turn, the Partnership prepared a quantitative analysis of the fair value of the goodwill as of June 30, 2016, based on the weighted average valuation of the aforementioned income and market based valuation approaches. The underlying results of the valuation were driven by our actual results during the six months ended June 30, 2016 and the pricing and market conditions existing as of June 30, 2016, which were below our forecasts at the time of the previous goodwill assessments. Other key estimates, assumptions and inputs used in the valuation included long-term growth rates, discounts rates, terminal values, valuation multiples and relative valuations when comparing the reporting unit to similar businesses or asset bases. Upon completion of the analysis, a $4,145 impairment of all goodwill in the Marine Transportation reporting unit was incurred during the second quarter of 2016. The Partnership did not recognize any other goodwill impairment losses for the year ended December 31, 2016.

2 This change represents goodwill disposed of as part of the Partnership's divestiture of the CCCT Assets. See Note 5.