Segment Information

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Information

Note 15—Segment Information

During the fourth quarter of 2015, we changed our reportable segments to separate our logistics operations from our refining operations due to a change in senior leadership, organizational structure, the acquisition of Mid Pac and to reflect how we currently make financial decisions and allocate resources. During the fourth quarter of 2015, we also began including all general and administrative and acquisition and integration costs in our Corporate and Other segment because we manage those costs on a consolidated basis. Additionally, effective in the fourth quarter of 2015, the crude oil and natural gas operations are included within the Corporate and Other reportable segment. Currently we report the results for the following five business segments: (i) Refining, (ii) Retail, (iii) Logistics, (iv) Texadian and (v) Corporate and Other. For the three months ended March 31, 2016 and 2015, substantially all of our revenues from our logistics segment represent intercompany transactions that are eliminated in consolidation.

We previously reported results for the following four business segments: (i) Refining and Distribution, (ii) Retail, (iii) Natural Gas and Oil Production and (iv) Commodity Marketing and Logistics. We have recast the segment information for the three months ended March 31, 2015 below to conform to the current period presentation.

Summarized financial information concerning reportable segments consists of the following (in thousands):

Three months ended March 31, 2016	Refining			Logistics		Retail		Texadian			Corporate, Eliminations and Other (1)			Total
Revenues	$	336,405		$	20,787	$	68,501	$	10,410		$	(58,291	)	$	377,812
Costs of revenues	326,706			12,826		49,950		11,322			(58,416		)	342,388
Operating expense, excluding DD&A	26,050			1,901		10,112		—			—			38,063
Lease operating expenses	—			—		—		—			114			114
Depreciation, depletion, and amortization	1,938			918		1,537		171			531			5,095
General and administrative expense	—			—		—		—			11,200			11,200
Acquisition and integration expense	—			—		—		—			671			671
Operating income (loss)	$	(18,289	)	$	5,142	$	6,902	$	(1,083	)	$	(12,391	)	$	(19,719	)
Interest expense and financing costs, net														(4,613		)
Other expense, net														46
Change in value of common stock warrants														1,644
Change in value of contingent consideration														6,176
Equity losses from Laramie Energy, LLC														(1,871		)
Loss before income taxes														(18,337		)
Income tax expense														(336		)
Net loss														$	(18,673	)
Capital expenditures	$	2,631		$	279	$	844	$	—		$	722		$	4,476

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(1) Includes eliminations of intersegment revenues and cost of revenues of $58.4 million for the three months ended March 31, 2016.

Three months ended March 31, 2015	Refining		Logistics		Retail		Texadian			Corporate, Eliminations and Other (1)			Total
Revenues	$	494,618	$	19,718	$	46,719	$	40,954		$	(58,398	)	$	543,611
Costs of revenues	451,509		10,525		33,430		40,916			(58,874		)	477,506
Operating expense, excluding DD&A	24,935		1,420		5,925		—			—			32,280
Lease operating expenses	—		—		—		—			1,531			1,531
Depreciation, depletion, and amortization	1,676		591		593		229			162			3,251
General and administrative expense	—		—		—		—			10,125			10,125
Acquisition and integration expense	—		—		—		—			1,061			1,061
Operating income (loss)	$	16,498	$	7,182	$	6,771	$	(191	)	$	(12,403	)	$	17,857
Interest expense and financing costs, net													(5,557		)
Other income, net													4
Change in value of common stock warrants													(5,022		)
Change in value of contingent consideration													(4,929		)
Equity loss from Laramie Energy, LLC													(1,826		)
Income before income taxes													527
Income tax expense													(65		)
Net income													$	462
Capital expenditures	$	2,260	$	1,756	$	398	$	—		$	333		$	4,747

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(1) Includes eliminations of intersegment revenues and cost of revenues of $58.9 million for the three months ended March 31, 2015.