XML 54 R41.htm IDEA: XBRL DOCUMENT

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2020

Summary of predecessor's reportable segment data for continuing operations


	For the Year Ended December 31, 2020
	Terminalling services		Fleet services		Corporate		Total
	(in thousands)
Revenues
Terminalling services	$	104,053	$	—	$	—	$	104,053
Terminalling services — related party	10,031		—		—		10,031


Fleet leases — related party	—		3,935		—		3,935
Fleet services	—		203		—		203
Fleet services — related party	—		910		—		910
Freight and other reimbursables	744		101		—		845
Freight and other reimbursables — related party	—		66		—		66
Total revenues	114,828		5,215		—		120,043
Operating costs
Subcontracted rail services	10,845		—		—		10,845
Pipeline fees	23,862		—		—		23,862

Freight and other reimbursables	744		167		—		911
Operating and maintenance	14,650		4,096		—		18,746
Selling, general and administrative	5,767		879		11,611		18,257
Goodwill impairment loss	33,589		—		—		33,589
Depreciation and amortization	21,496		—		—		21,496
Total operating costs	110,953		5,142		11,611		127,706
Operating income (loss)	3,875		73		(11,611)		(7,663)
Interest expense	—		—		8,932		8,932
Loss associated with derivative instruments	—		—		3,896		3,896
Foreign currency transaction loss	188		1		78		267
Other income, net	(891)		(7)		(5)		(903)
Provision for (benefit from) income taxes	453		(494)		—		(41)
Net income (loss)	$	4,125	$	573	$	(24,512)	$	(19,814)
Total assets	$	228,214	$	8,668	$	666	$	237,548
Capital expenditures	$	484	$	—	$	—	$	484


	For the Year Ended December 31, 2019
	Terminalling services		Fleet services		Corporate		Total
	(in thousands)
Revenues
Terminalling services	$	87,173	$	—	$	—	$	87,173
Terminalling services — related party	19,580		—		—		19,580


Fleet leases— related party	—		3,935		—		3,935
Fleet services	—		208		—		208
Fleet services — related party	—		910		—		910
Freight and other reimbursables	1,164		448		—		1,612
Freight and other reimbursables — related party	7		231		—		238
Total revenues	107,924		5,732		—		113,656
Operating costs
Subcontracted rail services	14,777		—		—		14,777
Pipeline fees	20,971		—		—		20,971

Freight and other reimbursables	1,171		679		—		1,850
Operating and maintenance	11,848		4,069		—		15,917
Selling, general and administrative	6,159		964		11,721		18,844
Goodwill impairment loss	—		—		—		—
Depreciation and amortization	20,664		—		—		20,664
Total operating costs	75,590		5,712		11,721		93,023
Operating income (loss)	32,334		20		(11,721)		20,633
Interest expense	—		—		12,006		12,006
Loss associated with derivative instruments	—		—		1,420		1,420
Foreign currency transaction loss (gain)	(90)		9		446		365
Other income, net	(324)		—		(12)		(336)
Provision for income taxes	634		28		—		662
Net income (loss)	$	32,114	$	(17)	$	(25,581)	$	6,516
Total assets	$	276,248	$	12,398	$	920	$	289,566
Capital expenditures	$	8,440	$	—	$	—	$	8,440


	For the Year Ended December 31, 2018
	Terminalling services		Fleet services		Corporate		Total
	(in thousands)
Revenues
Terminalling services	$	88,066	$	—	$	—	$	88,066
Terminalling services — related party	22,149		—		—		22,149


Fleet leases — related party	—		3,935		—		3,935
Fleet services	—		573		—		573
Fleet services — related party	—		910		—		910
Freight and other reimbursables	1,440		2,149		—		3,589
Freight and other reimbursables — related party	3		1		—		4
Total revenues	111,658		7,568		—		119,226
Operating costs
Subcontracted rail services	13,785		—		—		13,785
Pipeline fees	21,679		—		—		21,679

Freight and other reimbursables	1,443		2,150		—		3,593
Operating and maintenance	6,375		4,820		—		11,195
Selling, general and administrative	5,507		1,321		11,594		18,422
Goodwill impairment loss	—		—		—		—
Depreciation and amortization	21,103		—		—		21,103
Total operating costs	69,892		8,291		11,594		89,777
Operating income (loss)	41,766		(723)		(11,594)		29,449
Interest expense	—		—		11,358		11,358
Gain associated with derivative instruments	—		—		(374)		(374)
Foreign currency transaction loss (gain)	138		(14)		(138)		(14)
Other expense, net	16		—		—		16
Provision for (benefit from) income taxes	(2,709)		43		(3)		(2,669)
Net Income (loss)	$	44,321	$	(752)	$	(22,437)	$	21,132
Total assets	$	282,523	$	1,966	$	2,806	$	287,295
Capital expenditures	$	8,816	$	—	$	—	$	8,816

Reconciliation of adjusted EBITDA to profit or loss from continuing operations

The following tables present the computation of Segment Adjusted EBITDA, which is a measure determined in accordance with GAAP, for each of our segments for the periods indicated:


	For the Years Ended December 31,
Terminalling Services Segment	2020		2019		2018
	(in thousands)
Net income	$	4,125	$	32,114	$	44,321
Interest income, net (1)	(25)		(58)		(2)

Depreciation and amortization	21,496		20,664		21,103
Provision for (benefit from) income taxes	453		634		(2,709)


Foreign currency transaction loss (gain) (2)	188		(90)		138
Loss associated with disposal of assets	—		57		73

Goodwill impairment loss	33,589		—		—
Non-cash deferred amounts (3)	1,637		2,809		(205)
Segment Adjusted EBITDA	$	61,463	$	56,130	$	62,719

(1) Represents interest income associated with our Terminalling Services segment that is included in “Other expense (income), net” in our consolidated statements of operations.

(2) Represents foreign exchange transaction amounts associated with activities between our U.S. and Canadian subsidiaries.

(3) Represents the change in non-cash contract assets and contract liabilities associated with revenue recognized at blended rates based on tiered rate structures in certain of our customer contracts and deferred revenue associated with deficiency credits that are expected to be used in the future prior to their expiration. Amounts presented are net of the corresponding prepaid Gibson pipeline fee that will be recognized as expense concurrently with the recognition of revenue.


	For the Years Ended December 31,
Fleet Services Segment	2020		2019		2018
	(in thousands)
Net income (loss)	$	573	$	(17)	$	(752)
Provision for (benefit from) income taxes	(494)		28		43
Interest income (1)	(7)		—		—
Foreign currency transaction loss (gain) (2)	1		9		(14)

Segment Adjusted EBITDA	$	73	$	20	$	(723)

(1) Represents interest income associated with our Fleet Services segment that is included in “Other expense (income)” in our consolidated statements of operations.

(2) Represents foreign exchange transaction amounts associated with activities between our U.S. and Canadian subsidiaries.

Summary of predecessor's total assets by segment from continuing operations

The following tables summarize the geographic data for our continuing operations. Revenues are attributed to countries based on the local currency of our reporting subsidiaries for which the obligation is performed.


	For the Year Ended December 31, 2020
	U.S.		Canada		Total
	(in thousands)
Revenues
Third party	$	30,838	$	74,263	$	105,101
Related party	$	9,051	$	5,891	$	14,942
Total assets	$	165,131	$	72,417	$	237,548


	For the Year Ended December 31, 2019
	U.S.		Canada		Total
	(in thousands)
Revenues
Third party	$	32,459	$	56,534	$	88,993
Related party	$	9,013	$	15,650	$	24,663
Total assets	$	218,778	$	70,788	$	289,566


	For the Year Ended December 31, 2018
	U.S.		Canada		Total
	(in thousands)
Revenues
Third party	$	44,570	$	47,658	$	92,228
Related party	$	7,214	$	19,784	$	26,998
Total assets	$	224,588	$	62,707	$	287,295