Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2018

Reconciliation of Retail Gross Margin to Income Before Income Tax Expense

Below is a reconciliation of retail gross margin to (loss) income before income tax expense (in thousands):



	Years Ended December 31,
(in thousands)	2018			2017			2016
Reconciliation of Retail Gross Margin to Income before taxes
(Loss) income before income tax expense	$	(12,315	)	$	113,809		$	76,099
Change in Tax Receivable Agreement Liability	—			(22,267		)	—
Interest and other income	(749		)	(256		)	(957		)
Interest expense	9,410			11,134			8,859
Operating (loss) income	(3,654		)	102,420			84,001
Depreciation and amortization	52,658			42,341			32,788
General and administrative	111,431			101,127			84,964
Less:
Net asset optimization revenue (expenses)	4,511			(717		)	(586		)
Net, (losses) gain on non-trading derivative instruments	(19,571		)	5,588			22,254
Net, Cash settlements on non-trading derivative instruments	(9,614		)	16,508			(2,284		)
Retail Gross Margin	$	185,109		$	224,509		$	182,369

Financial Data for Business Segments

Financial data for business segments are as follows (in thousands):



Year Ended December 31,
2018	Retail Electricity			Retail Natural Gas			Corporate and Other		Eliminations			Consolidated
Total Revenues	$	863,451		$	137,966		$	4,511	$	—		$	1,005,928
Retail cost of revenues	762,771			82,722			—		—			845,493
Less:
Net asset optimization revenue	—			—			4,511		—			4,511
Net, Losses on non-trading derivative instruments	(15,200		)	(4,371		)	—		—			(19,571		)
Current period settlements on non-trading derivatives	(8,788		)	(826		)	—		—			(9,614		)
Retail gross margin	$	124,668		$	60,441		$	—	$	—		$	185,109
Total Assets	$	1,857,790		$	649,969		$	361,697	$	(2,380,718	)	$	488,738
Goodwill	$	117,813		$	2,530							$	120,343



Year Ended December 31,
2017	Retail Electricity		Retail Natural Gas			Corporate and Other			Eliminations			Consolidated
Total Revenues ⁽¹⁾	$	657,566	$	141,206		$	(717	)	$	—		$	798,055
Retail cost of revenues	477,012		75,155			—			—			552,167
Less:
Net asset optimization expense ⁽¹⁾	—		—			(717		)	—			(717		)
Net, Gains (losses) on non-trading derivative instruments	5,784		(196		)	—			—			5,588
Current period settlements on non-trading derivatives	16,302		206			—			—			16,508
Retail gross margin	$	158,468	$	66,041		$	—		$	—		$	224,509
Total Assets ⁽²⁾	$	1,218,243	$	421,896		$	281,176		$	(1,417,574	)	$	503,741
Goodwill	$	117,624	$	2,530		$	—		$	—		$	120,154



Year Ended December 31,
2016	Retail Electricity			Retail Natural Gas		Corporate and Other			Eliminations			Consolidated
Total Revenues ⁽¹⁾	$	417,229		$	130,054	$	(586	)	$	—		$	546,697
Retail cost of revenues	286,795			58,149		—			—			344,944
Less:
Net asset optimization expense ⁽¹⁾	—			—		(586		)	—			(586		)
Net, Gains on non-trading derivative instruments	17,187			5,067		—			—			22,254
Current period settlements on non-trading derivatives	(4,889		)	2,605		—			—			(2,284		)
Retail gross margin	$	118,136		$	64,233	$	—		$	—		$	182,369
Total Assets ⁽²⁾	$	551,338		$	242,739	$	192,101		$	(618,429	)	$	367,749
Goodwill	$	76,617		$	2,530	$	—		$	—		$	79,147

(1) Previously reported amounts have been adjusted to reclassify net asset optimization actives from the Retail Natural Gas segment to Corporate and Other.

(2) Previously reported amounts have been adjusted for immaterial corrections. See Footnote 2 "Basis of Presentation and Summary of Significant Accounting Policies" for further discussion.