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Segment Reporting
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Reporting Segment ReportingWe operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals.
Financial information by reporting segment was as follows for the periods indicated (in thousands):

Reporting Segments
Crude oil marketingTrans-portationPipeline and storage
Logistics and repurposing (1)
OtherTotal
Three Months Ended June 30, 2023
Segment revenues (2)
$585,272 $24,576 $894 $15,780 $— $626,522 
Less: Intersegment revenues (2)
— (124)(645)(987)— (1,756)
Revenues$585,272 $24,452 $249 $14,793 $— $624,766 
Segment operating earnings (losses) (3)
3,351 1,056 (779)(133)— 3,495 
Depreciation and amortization2,168 3,136 275 1,724 — 7,303 
Property and equipment additions (4) (5)
394 1,171 270 2,088 85 4,008 
Three Months Ended June 30, 2022
Segment revenues (2)
$962,516 $29,593 $1,163 $— $— $993,272 
Less: Intersegment revenues (2)
— (59)(1,163)— — (1,222)
Revenues$962,516 $29,534 $— $— $— $992,050 
Segment operating earnings (losses) (3)
5,111 2,937 (877)— — 7,171 
Depreciation and amortization1,894 2,923 271 — — 5,088 
Property and equipment additions (4) (5)
884 159 46 — — 1,089 
Six Months Ended June 30, 2023
Segment revenues (2)
$1,193,748 $51,106 $1,703 $32,527 $— $1,279,084 
Less: Intersegment revenues (2)
— (209)(1,454)(2,493)— (4,156)
Revenues$1,193,748 $50,897 $249 $30,034 $— $1,274,928 
Segment operating earnings (losses) (3)
5,258 1,957 (1,980)402 — 5,637 
Depreciation and amortization4,243 6,267 538 3,305 — 14,353 
Property and equipment additions (4) (5)
669 1,338 1,241 2,548 112 5,908 
Six Months Ended June 30, 2022
Segment revenues (2)
$1,710,071 $56,311 $2,060 $— $— $1,768,442 
Less: Intersegment revenues (2)
— (87)(2,060)— — (2,147)
Revenues$1,710,071 $56,224 $— $— $— $1,766,295 
Segment operating earnings (losses) (3)
15,231 5,805 (1,699)— — 19,337 
Depreciation and amortization3,682 5,880 539 — — 10,101 
Property and equipment additions (4) (5)
4,008 694 73 — 4,783 
_______________
(1)On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment.
(2)Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed.
(3)Our crude oil marketing segment’s operating earnings included inventory valuation losses of $1.0 million and $1.5 million for the three months ended June 30, 2023 and 2022, respectively. For the six months ended June 30, 2023 and 2022, our crude oil marketing segment’s operating (losses) earnings included inventory valuation losses of $2.0 million and inventory liquidation gains of $7.2 million, respectively.
(4)Our segment property and equipment additions do not include assets acquired under finance leases during the three and six months ended June 30, 2023 and 2022. See Note 15 for further information.
(5)Amounts included in property and equipment additions for Other are additions for computer or other office equipment and a company vehicle at our corporate headquarters, which were not attributed or allocated to any of our reporting segments.
Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to earnings (losses) before income taxes, as follows for the periods indicated (in thousands):

Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Segment operating earnings$3,495 $7,171 $5,637 $19,337 
General and administrative(1,715)(4,211)(6,487)(8,229)
Operating earnings (losses)1,780 2,960 (850)11,108 
Interest and other income570 303 774 327 
Interest expense(802)(136)(1,498)(250)
Earnings (Losses) before income taxes$1,548 $3,127 $(1,574)$11,185 

Identifiable assets by business segment were as follows at the dates indicated (in thousands):

June 30,December 31,
20232022
Reporting segment:
Crude oil marketing$193,478 $215,813 
Transportation58,276 60,405 
Pipeline and storage25,444 25,815 
Logistics and repurposing43,097 45,307 
Cash and other (1)
23,187 36,819 
Total assets$343,482 $384,159 
_______________
(1)Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.
Accounting policies for transactions between reportable segments are consistent with applicable accounting policies as disclosed herein.