Schedule of Segment Reporting Information, by Segment |
The following is a summary of business segment operating performance as measured by contribution margin for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2020 | | 2019 | | 2018 | Pipelines and Transportation | | | | | | Net revenues: | | | | | | Affiliate | $ | 233,873 | | | $ | 155,211 | | | $ | 138,418 | | Third party | 17,596 | | | 23,107 | | | 15,149 | | Total pipelines and transportation | 251,469 | | | 178,318 | | | 153,567 | | Cost of materials and other | 45,934 | | | 22,826 | | | 19,878 | | Operating expenses (excluding depreciation and amortization) | 42,267 | | | 54,827 | | | 39,934 | | Segment contribution margin | $ | 163,268 | | | $ | 100,665 | | | $ | 93,755 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Capital spending (1) | $ | 7,631 | | | $ | 6,600 | | | $ | 6,840 | | | | | | | | Wholesale Marketing and Terminalling | | | | | | Net revenues: | | | | | | Affiliate (2) | $ | 148,793 | | | $ | 105,803 | | | $ | 102,391 | | Third party | 163,156 | | | 299,871 | | | 401,651 | | Total wholesale marketing and terminalling | 311,949 | | | 405,674 | | | 504,042 | | Cost of materials and other | 223,160 | | | 313,647 | | | 409,183 | | Operating expenses (excluding depreciation and amortization) | 14,012 | | | 19,330 | | | 18,810 | | Segment contribution margin | $ | 74,777 | | | $ | 72,697 | | | $ | 76,049 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Capital spending (1) | $ | 7,818 | | | $ | 3,387 | | | $ | 4,725 | | | | | | | | Consolidated | | | | | | Net revenues: | | | | | | Affiliate | $ | 382,666 | | | $ | 261,014 | | | $ | 240,809 | | Third party | 180,752 | | | 322,978 | | | 416,800 | | Total Consolidated | 563,418 | | | 583,992 | | | 657,609 | | | | | | | | Cost of materials and other | 269,094 | | | 336,473 | | | 429,061 | | Operating expenses (excluding depreciation and amortization presented below) | 56,279 | | | 74,157 | | | 58,744 | | Contribution margin | 238,045 | | | 173,362 | | | 169,804 | | | | | | | | | | | | | | | | | | | | General and administrative expenses | 22,587 | | | 20,815 | | | 17,166 | | Depreciation and amortization | 35,731 | | | 26,701 | | | 25,990 | | Other operating (income) expense, net | (66) | | | 34 | | | 891 | | Operating income | $ | 179,793 | | | $ | 125,812 | | | $ | 125,757 | | Capital spending (1) | $ | 15,449 | | | $ | 9,987 | | | $ | 11,565 | |
(1) Capital spending excludes transaction costs capitalized in the amount of $0.4 million that relate to the Big Spring Logistics Assets Acquisition for the year ended December 31, 2018. Additionally, capital spending for the year ended December 31, 2020, excludes transaction costs capitalized in the amount of $0.3 million that relate to the Trucking Assets Acquisition and $0.7 million that relate to the Big Spring Gathering Assets Acquisition. (2) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the Marketing Contract Intangible Acquisition. See Note 3 for additional information. The following table summarizes the total assets for each segment as of December 31, 2020 and 2019 (in thousands). Assets for each segment includes property, plant and equipment, equity method investments, intangible assets and inventory. | | | | | | | | | | | | | Year Ended December 31, | | 2020 | | 2019 | Pipelines and transportation | $ | 723,317 | | | $ | 509,666 | | Wholesale marketing and terminalling | 206,918 | | | 214,259 | | Other | 26,182 | | | 20,522 | | Total assets | $ | 956,417 | | | $ | 744,447 | |
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