Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

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
	March 31,
	2023		2022
Crude Oil Marketing:
Revenue from contracts with customers:
Goods transferred at a point in time	$	588,089	$	736,034
Services transferred over time	44		—
Total revenues from contracts with customers	588,133		736,034
Other (1)	20,343		11,521
Total crude oil marketing revenue	$	608,476	$	747,555

Transportation:
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—
Services transferred over time	26,445		26,690
Total revenues from contracts with customers	26,445		26,690
Other	—		—
Total transportation revenue	$	26,445	$	26,690

Pipeline and storage: (2)
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—
Services transferred over time	—		—
Total revenues from contracts with customers	—		—
Other	—		—
Total pipeline and storage revenue	$	—	$	—

Logistics and repurposing:
Revenue from contracts with customers:
Goods transferred at a point in time	$	8,154	$	—
Services transferred over time	7,087		—
Total revenues from contracts with customers	15,241		—
Other	—		—
Total logistics and repurposing revenue	$	15,241	$	—

Subtotal:
Total revenues from contracts with customers	$	629,819	$	762,724
Total other (1)	20,343		11,521
Total consolidated revenues	$	650,162	$	774,245

_______________

(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)All pipeline and storage revenue during the three months ended March 31, 2023 and 2022 was from an affiliated shipper, GulfMark Energy, Inc., our subsidiary, and was eliminated in consolidation.

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
	March 31,
	2023		2022

Revenue gross-up	$	286,702	$	307,386