Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Crude Oil Marketing:
Revenue from contracts with customers:
Goods transferred at a point in time	$	802,707	$	535,166	$	2,491,066	$	1,285,461
Services transferred over time	—		—		—		—
Total revenues from contracts with customers	802,707		535,166		2,491,066		1,285,461
Other (1)	11,687		8,062		33,399		24,882
Total crude oil marketing revenue	$	814,394	$	543,228	$	2,524,465	$	1,310,343

Transportation:
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—	$	—	$	—
Services transferred over time	29,830		24,826		86,054		69,558
Total revenues from contracts with customers	29,830		24,826		86,054		69,558
Other	—		—		—		—
Total transportation revenue	$	29,830	$	24,826	$	86,054	$	69,558

Pipeline and storage:
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—	$	—	$	—
Services transferred over time	—		127		—		515
Total revenues from contracts with customers	—		127		—		515
Other	—		—		—		—
Total pipeline and storage revenue	$	—	$	127	$	—	$	515

Logistics and repurposing: (2)
Revenue from contracts with customers:
Goods transferred at a point in time (3)	$	4,178	$	—	$	4,178	$	—
Services transferred over time (4)	4,499		—		4,499		—
Total revenues from contracts with customers	8,677		—		8,677		—
Other	—		—		—		—
Total logistics and repurposing revenue	$	8,677	$	—	$	8,677	$	—

Subtotal:
Total revenues from contracts with customers	$	841,214	$	560,119	$	2,585,797	$	1,355,534
Total other (1)	11,687		8,062		33,399		24,882
Total consolidated revenues	$	852,901	$	568,181	$	2,619,196	$	1,380,416

_______________

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

(2)On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment. See Note 6 and Note 9 for further information.

(3)Revenues from the transportation of petroleum products are earned over time as the performance obligation is satisfied.(4)Revenues from the sale of petroleum products are earned at a point in time when control of the product transfers to the customer and the performance obligation is satisfied.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

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				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021

Revenue gross-up	$	430,244	$	201,704	$	1,156,711	$	526,082