SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Summary of Reportable Segment Data For Continuing Operations

	Three Months Ended March 31, 2023
	Terminalling services		Fleet services		Corporate		Total
	(in thousands)
Revenues
Terminalling services	$	19,739	$	—	$	—	$	19,739
Terminalling services — related party	714		—		—		714
Fleet leases — related party	—		283		—		283
Fleet services — related party	—		85		—		85
Freight and other reimbursables	190		—		—		190
Freight and other reimbursables — related party	115		—		—		115
Total revenues	20,758		368		—		21,126
Operating costs
Subcontracted rail services	3,285		—		—		3,285
Pipeline fees	5,473		—		—		5,473
Freight and other reimbursables	305		—		—		305
Operating and maintenance	1,466		295		—		1,761
Selling, general and administrative	1,390		22		5,172		6,584
Gain on sale of business	—		—		(6,202)		(6,202)
Depreciation and amortization	1,906		—		—		1,906
Total operating costs	13,825		317		(1,030)		13,112
Operating income	6,933		51		1,030		8,014
Interest expense	—		—		4,441		4,441
Loss associated with derivative instruments	—		—		1,850		1,850
Foreign currency transaction loss	23		—		31		54
Other income, net	(32)		—		(2)		(34)
Provision for (benefit from) income taxes	(278)		6		—		(272)
Net income (loss)	$	7,220	$	45	$	(5,290)	$	1,975

	Three Months Ended March 31, 2022
	Terminalling services		Fleet services		Corporate		Total
	(in thousands)
Revenues
Terminalling services	$	33,823	$	—	$	—	$	33,823
Terminalling services — related party	655		—		—		655
Fleet leases — related party	—		912		—		912
Fleet services — related party	—		299		—		299
Freight and other reimbursables	97		—		—		97
Freight and other reimbursables — related party	—		—		—		—
Total revenues	34,575		1,211		—		35,786
Operating costs
Subcontracted rail services	3,991		—		—		3,991
Pipeline fees	8,501		—		—		8,501
Freight and other reimbursables	97		—		—		97
Operating and maintenance	2,624		993		—		3,617
Selling, general and administrative	4,787		57		3,902		8,746
Depreciation and amortization	5,839		—		—		5,839
Total operating costs	25,839		1,050		3,902		30,791
Operating income (loss)	8,736		161		(3,902)		4,995
Interest expense	117		—		1,385		1,502
Gain associated with derivative instruments	—		—		(6,084)		(6,084)
Foreign currency transaction loss (gain)	1,698		—		(51)		1,647
Other income, net	(23)		—		—		(23)
Provision for income taxes	416		64		—		480
Net income	$	6,528	$	97	$	848	$	7,473

Reconciliation of Adjusted EBITDA To 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:

	Three Months Ended March 31,
Terminalling Services Segment	2023		2022
	(in thousands)
Net income	$	7,220	$	6,528
Interest expense (income), net (1)	(31)		116
Depreciation and amortization	1,906		5,839
Provision for (benefit from) income taxes	(278)		416
Foreign currency transaction loss (2)	23		1,698
Non-cash deferred amounts (3)	(1,651)		(1,557)
Segment Adjusted EBITDA attributable to Hardisty South entities prior to acquisition (4)	—		(258)
Segment Adjusted EBITDA	$	7,189	$	12,782

(1)    Represents interest expense associated with the construction loan agreement that existed prior to our acquisition of the Hardisty South Terminal entities and interest income associated with our Terminalling Services segment that is included in “Other 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 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.

(4)    Segment adjusted EBITDA attributable to the Hardisty South entities for the three months ended March 31, 2022 was excluded from the Terminalling Services Segment Adjusted EBITDA, as these amounts were generated by the Hardisty South entities prior to the Partnership’s acquisition.

	Three Months Ended March 31,
Fleet Services Segment	2023		2022
	(in thousands)
Net income	$	45	$	97
Provision for income taxes	6		64
Segment Adjusted EBITDA	$	51	$	161