Revenue Recognition

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Revenue Disaggregation

The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands):

	Reporting Segments
	Marketing		Transportation		Pipeline and storage		Total
Three Months Ended March 31, 2021
Revenues from contracts with customers	$	297,475	$	21,235	$	233	$	318,943
Other (1)	6,548		—		—		6,548
Total revenues	$	304,023	$	21,235	$	233	$	325,491
Timing of revenue recognition:
Goods transferred at a point in time	$	297,475	$	—	$	—	$	297,475
Services transferred over time	—		21,235		233		21,468
Total revenues from contracts with customers	$	297,475	$	21,235	$	233	$	318,943
Three Months Ended March 31, 2020
Revenues from contracts with customers	$	319,717	$	16,256	$	—	$	335,973
Other (1)	17,504		—		—		17,504
Total revenues	$	337,221	$	16,256	$	—	$	353,477
Timing of revenue recognition:
Goods transferred at a point in time	$	319,717	$	—	$	—	$	319,717
Services transferred over time	—		16,256		—		16,256
Total revenues from contracts with customers	$	319,717	$	16,256	$	—	$	335,973

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(1)Other crude oil marketing revenues are recognized under ASC 815, Derivatives and Hedging, and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty.

Other Crude Oil Marketing Revenue

Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying consolidated financial statements.

Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying consolidated financial statements.

Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands):

	Three Months Ended
	March 31,
	2021		2020
Revenue gross-up	$	134,866	$	157,439