Segment Data (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Segment Reporting Information, by Segment

The following is a summary of business segment operating performance as measured by EBITDA for the periods indicated (in thousands):


	Three Months Ended September 30, 2023
(In thousands)	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	55,419	$	70,610	$	30,382	$	—	$	—	$	156,411
Third party	39,406		76,500		3,507		—		—		119,413
Total revenue	$	94,825	$	147,110	$	33,889	$	—	$	—	$	275,824

Segment EBITDA	$	52,906	$	28,135	$	17,914	$	9,288	$	(10,002)	$	98,241
Depreciation and amortization	19,263		1,769		2,704		—		849		24,585
Amortization of customer contract intangible	—		1,803		—		—		—		1,803
Interest expense, net	—		—		—		—		36,901		36,901
Income tax expense											127
Net income											$	34,825

Capital spending	$	12,002	$	2,123	$	522	$	—	$	—	$	14,647

	Three Months Ended September 30, 2022
(In thousands)	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	48,377	$	45,162	$	33,611					$	127,150
Third party	60,233		102,703		3,939		—		—		166,875
Total revenue	$	108,610	$	147,865	$	37,550	$	—	$	—	$	294,025

Segment EBITDA	$	56,551	$	20,272	$	14,575	$	8,567	$	(11,003)	$	88,962
Depreciation and amortization	17,779		1,628		2,087		—		(1,954)		19,540
Amortization of customer contract intangible	—		1,802		—		—		—		1,802
Interest expense, net	—		—		—		—		22,559		22,559
Income tax expense											387
Net income											$	44,674

Capital spending	$	30,895	$	1,065	$	—	$	—	$	—	$	31,960


	Nine Months Ended September 30, 2023
(In thousands)	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	157,362	$	156,437	$	100,604	$	—	$	—	$	414,403
Third party	123,132		221,809		6,916		—		—		351,857
Total revenue	$	280,494	$	378,246	$	107,520	$	—	$	—	$	766,260

Segment EBITDA	$	161,014	$	78,071	$	46,316	$	22,889	$	(24,111)	$	284,179
Depreciation and amortization	54,511		5,338		7,109		—		2,459		69,417
Amortization of customer contract intangible	—		5,408		—		—		—		5,408
Interest expense, net	—		—		—		—		104,581		104,581
Income tax expense											685
Net income											$	104,088

Capital spending	$	62,168	$	2,527	$	3,933	$	—	$	—	$	68,628


	Nine Months Ended September 30, 2022
(In thousands)	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	134,315	$	144,004	$	96,951	$	—	$	—	$	375,270
Third party	81,165		300,177		10,744		—		—		392,086
Total revenue	$	215,480	$	444,181	$	107,695	$	—	$	—	$	767,356

Segment EBITDA	$	127,129	$	59,813	$	40,212	$	22,666	$	(30,349)	$	219,471
Depreciation and amortization	32,260		4,674		6,363		—		—		43,297
Amortization of customer contract intangible	—		5,408		—		—		—		5,408
Interest expense, net	—		—		—		—		53,621		53,621
Income tax expense											793
Net income											$	116,352

Capital spending	$	66,388	$	1,384	$	—	$	—	$	—	$	67,772