Revenue Recognition (Tables)

12 Months Ended

Dec. 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):


	Year Ended December 31,
	2023		2022		2021
Crude oil marketing:
Revenue from contracts with customers:
Goods transferred at a point in time	$	2,530,323	$	3,189,660	$	1,898,160
Services transferred over time	763		—		—
Total revenues from contracts with customers	2,531,086		3,189,660		1,898,160
Other (1)	54,269		42,533		31,882
Total crude oil marketing revenue	$	2,585,355	$	3,232,193	$	1,930,042

Transportation:
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—	$	—
Services transferred over time	98,359		112,376		94,498
Total revenues from contracts with customers	98,359		112,376		94,498
Other	—		—		—
Total transportation revenue	$	98,359	$	112,376	$	94,498

Pipeline and storage: (2)
Revenue from contracts with customers:
Goods transferred at a point in time	$	—	$	—	$	—
Services transferred over time	323		—		664
Total revenues from contracts with customers	323		—		664
Other	—		—		—
Total pipeline and storage revenue	$	323	$	—	$	664

Logistics and repurposing: (3)
Revenue from contracts with customers:
Goods transferred at a point in time	$	33,074	$	12,865	$	—
Services transferred over time	28,182		9,483		—
Total revenues from contracts with customers	61,256		22,348		—
Other	—		—		—
Total logistics and repurposing revenue	$	61,256	$	22,348	$	—

Subtotal:
Total revenues from contracts with customers	$	2,691,024	$	3,324,384	$	1,993,322
Total other (1)	54,269		42,533		31,882
Total consolidated revenues	$	2,745,293	$	3,366,917	$	2,025,204

_______________

(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.

(2)All pipeline and storage revenue earned in 2022 and a substantial portion of the revenue earned in 2023 and 2021 were from an affiliated shipper, GulfMark Energy, Inc. (“GulfMark”), our subsidiary, and eliminated in consolidation.

(3)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.

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):


	Year Ended December 31,
	2023		2022		2021

Revenue gross-up	$	899,068	$	1,557,510	$	761,369