Discontinued Operations

9 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

As previously disclosed, on September 30, 2019, we completed the sale of TransMontaigne Product Services, LLC (“TPSL”) to Trajectory Acquisition Company, LLC. On January 3, 2020, we completed the sale of our refined products business in the mid-continent region of the United States (“Mid-Con”) to a third-party. On March 30, 2020, we completed the sale of our gas blending business in the southeastern and eastern regions of the United States (“Gas Blending”) to another third-party. As the sale of each of these businesses represented strategic shifts, the results of operations and cash flows related to these businesses are classified as discontinued operations for the periods presented.

The following table summarizes the results of operations from discontinued operations for the periods indicated:

	Three Months Ended December 31,		Nine Months Ended December 31,
	2020		2020
	(in thousands)
Revenues	$	—	$	16,198
Cost of sales	106		16,535
Operating expenses	1		281
Loss on disposal or impairment of assets, net (1)	—		1,181
Loss from discontinued operations before taxes	(107)		(1,799)
Income tax benefit	—		53
Loss from discontinued operations, net of tax	$	(107)	$	(1,746)

(1)    Amount for the nine months ended December 31, 2020 includes a loss of $1.0 million on the sale of Gas Blending and a loss of $0.2 million on the sale of TPSL.