NuStar Energy (NS) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

DEI Document

DEI Document - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-16417
Entity Registrant Name	NuStar Energy L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-2956831
Entity Address, Street	19003 IH-10 West
Entity Address, City	San Antonio
Entity Address, State	TX
Entity Address, Zip Code	78257
City Area Code	210
Entity Local Phone Number	918-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Partnership Units Outstanding		109,526,320
Entity Central Index Key	0001110805
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Limited Partner [Member]
Document Information [Line Items]
Title of 12(b) Security	Common units
Trading Symbol	NS
Security Exchange Name	NYSE
Series A Preferred Limited Partner [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
Trading Symbol	NSprA
Security Exchange Name	NYSE
Series B Preferred Limited Partner [Member]
Document Information [Line Items]
Title of 12(b) Security	Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
Trading Symbol	NSprB
Security Exchange Name	NYSE
Series C Preferred Limited Partner [Member]
Document Information [Line Items]
Title of 12(b) Security	Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
Trading Symbol	NSprC
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 28,246	$ 153,625
Accounts receivable, net	121,253	133,473
Inventories	17,534	11,059
Prepaid and other current assets	15,719	25,400
Total current assets	182,752	323,557
Property, plant and equipment, at cost	6,205,276	6,164,742
Accumulated depreciation and amortization	(2,264,511)	(2,207,230)
Property, plant and equipment, net	3,940,765	3,957,512
Intangible assets, net	617,353	630,209
Goodwill	766,416	766,416
Other long-term assets, net	136,586	139,324
Total assets	5,643,872	5,817,018
Current liabilities:
Accounts payable	71,623	71,731
Current portion of finance lease obligations	3,517	3,839
Accrued interest payable	77,996	50,847
Accrued liabilities	58,761	77,770
Taxes other than income tax	12,968	16,998
Total current liabilities	224,865	221,185
Long-term debt, less current portion	3,446,604	3,593,496
Deferred income tax liability	13,200	13,011
Other long-term liabilities	156,338	157,825
Total liabilities	3,841,007	3,985,517
Commitments and contingencies (Note 6)
Series D preferred limited partners (23,246,650 preferred units outstanding as of March 31, 2021 and December 31, 2020) (Note 8)	603,563	599,542
Partners’ equity (Note 9):
Common limited partners (109,526,248 and 109,468,127 common units outstanding as of March 31, 2021 and December 31, 2020, respectively)	537,537	572,314
Accumulated other comprehensive loss	(94,536)	(96,656)
Total partners’ equity	1,199,302	1,231,959
Total liabilities, mezzanine equity and partners’ equity	5,643,872	5,817,018
Series A Preferred Limited Partner [Member]
Partners’ equity (Note 9):
Preferred limited partners	218,307	218,307
Series B Preferred Limited Partner [Member]
Partners’ equity (Note 9):
Preferred limited partners	371,476	371,476
Series C Preferred Limited Partner [Member]
Partners’ equity (Note 9):
Preferred limited partners	$ 166,518	$ 166,518

CONSOLIDATED BALANCE SHEETS (pa

CONSOLIDATED BALANCE SHEETS (parenthetical) - shares	Mar. 31, 2021	Dec. 31, 2020
Series D preferred units outstanding	23,246,650	23,246,650
Limited partners common units outstanding	109,526,248	109,468,127
Series A Preferred Limited Partner [Member]
Preferred units outstanding	9,060,000	9,060,000
Series B Preferred Limited Partner [Member]
Preferred units outstanding	15,400,000	15,400,000
Series C Preferred Limited Partner [Member]
Preferred units outstanding	6,900,000	6,900,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Total revenues	$ 361,646	$ 392,791
Costs and expenses:
Operating expenses (excluding depreciation and amortization expense)	87,287	100,182
Depreciation and amortization expense	68,418	68,061
Goodwill impairment loss	0	225,000
General and administrative expenses (excluding depreciation and amortization expense)	24,492	22,971
Other depreciation and amortization expense	2,047	2,186
Total costs and expenses	263,357	485,850
Operating income (loss)	98,289	(93,059)
Interest expense, net	(54,918)	(47,494)
Other income (expense), net	398	(6,489)
Income (loss) before income tax expense	43,769	(147,042)
Income tax expense	1,512	599
Net income (loss)	$ 42,257	$ (147,641)
Basic net income (loss) per common unit (Note 10)	$ 0.05	$ (1.68)
Diluted net income (loss) per common unit (Note 10)	$ 0.05	$ (1.68)
Basic weighted-average common units outstanding	109,506,222	108,897,400
Diluted weighted-average common units outstanding	109,506,222	108,897,400
Comprehensive income (loss)	$ 44,377	$ (183,954)
Service [Member]
Revenues:
Total revenues	271,883	316,746
Costs and expenses:
Total costs associated with service revenues/Cost associated with product sales	155,705	168,243
Product [Member]
Revenues:
Total revenues	89,763	76,045
Costs and expenses:
Total costs associated with service revenues/Cost associated with product sales	$ 81,113	$ 67,450

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities:
Net income (loss)	$ 42,257	$ (147,641)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	70,465	70,247
Amortization of unit-based compensation	3,871	2,585
Amortization of debt related items	3,042	1,462
Goodwill impairment loss	0	225,000
Changes in current assets and current liabilities (Note 11)	24,397	(9,785)
Decrease in other long-term assets	2,381	2,303
(Decrease) increase in other long-term liabilities	(1,678)	948
Other, net	922	6,309
Net cash provided by operating activities	145,657	151,428
Cash flows from investing activities:
Capital expenditures	(40,463)	(56,283)
Change in accounts payable related to capital expenditures	(5,449)	(15,706)
Proceeds from sale or disposition of assets	130	565
Net cash used in investing activities	(45,782)	(71,424)
Cash flows from financing activities:
Proceeds from long-term debt borrowings	270,400	135,200
Proceeds from short-term debt borrowings	0	52,000
Long-term debt repayments	(418,100)	(104,615)
Short-term debt repayments	0	(47,500)
Distributions to preferred unitholders	(31,887)	(30,423)
Distributions to common unitholders	(43,811)	(65,169)
Payment of tax withholding for unit-based compensation	(601)	(8,820)
Increase (decrease) in cash book overdrafts	267	(1,194)
Other, net	(1,997)	(6,568)
Net cash used in financing activities	(225,729)	(77,089)
Effect of foreign exchange rate changes on cash	475	(1,403)
Net (decrease) increase in cash, cash equivalents and restricted cash	(125,379)	1,512
Cash, cash equivalents and restricted cash as of the beginning of the period	162,426	24,980
Cash, cash equivalents and restricted cash as of the end of the period	$ 37,047	$ 26,492

CONSOLIDATED STATEMENTS OF PART

CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY AND MEZZANINE EQUITY - USD ($) $ in Thousands	Total	AOCI [Member]	Preferred Limited Partner [Member]	Common Limited Partner [Member]	Series D Preferred Limited Partner [Member]
Partners' capital - beginning balance at Dec. 31, 2019	$ 1,776,210	$ (67,896)	$ 756,301	$ 1,087,805
Temporary equity - beginning balance at Dec. 31, 2019	581,935
Partners' capital and temporary equity - beginning balance at Dec. 31, 2019	2,358,145
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	(147,641)	0	16,033	(178,064)
Net income (loss) excluding portion attributable to temporary equity	(162,031)
Net income, temporary equity					$ 14,390
Other comprehensive income (loss)	(36,313)	(36,313)	0	0
Cash distributions to partners			(16,033)	(65,169)
Cash distributions to partners, temporary equity					(14,390)
Unit-based compensation	16,051	0	0	16,051
Series D Preferred Unit accretion, common	(4,902)	0	0	(4,902)
Series D Preferred Unit accretion, preferred					4,902
Series D Preferred Unit accretion, total	0
Other	1	0	0	1
Other, temporary equity					0
Other, including temporary equity	1
Partners' capital - ending balance at Mar. 31, 2020	1,507,814	(104,209)	756,301	855,722
Temporary equity - ending balance at Mar. 31, 2020	586,837
Partners' capital and temporary equity - ending balance at Mar. 31, 2020	2,094,651
Partners' capital - beginning balance at Dec. 31, 2020	1,231,959	(96,656)	756,301	572,314
Temporary equity - beginning balance at Dec. 31, 2020	599,542
Partners' capital and temporary equity - beginning balance at Dec. 31, 2020	1,831,501
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income (loss)	42,257	0	16,033	10,370
Net income (loss) excluding portion attributable to temporary equity	26,403
Net income, temporary equity					15,854
Other comprehensive income (loss)	2,120	2,120	0	0
Cash distributions to partners			(16,033)	(43,811)
Cash distributions to partners, temporary equity					(15,854)
Unit-based compensation	2,678	0	0	2,678
Series D Preferred Unit accretion, common	(4,021)			(4,021)
Series D Preferred Unit accretion, preferred					4,021
Series D Preferred Unit accretion, total	0
Other	7	0	0	7
Other, temporary equity					$ 0
Other, including temporary equity	7
Partners' capital - ending balance at Mar. 31, 2021	1,199,302	$ (94,536)	$ 756,301	$ 537,537
Temporary equity - ending balance at Mar. 31, 2021	603,563
Partners' capital and temporary equity - ending balance at Mar. 31, 2021	$ 1,802,865

CONSOLIDATED STATEMENTS OF PA_2

CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY AND MEZZANINE EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Common Limited Partner [Member]
Cash distributions paid, per unit	$ 0.40	$ 0.60

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization and Operations NuStar Energy L.P. (NYSE: NS) is a Delaware limited partnership primarily engaged in the transportation of petroleum products and anhydrous ammonia, and the terminalling and storage of petroleum products and renewable fuels. Unless otherwise indicated, the terms “NuStar Energy,” “NS,” “the Partnership,” “we,” “our” and “us” are used in this report to refer to NuStar Energy L.P., to one or more of our consolidated subsidiaries or to all of them taken as a whole. Our business is managed under the direction of the board of directors of NuStar GP, LLC, the general partner of our general partner, Riverwalk Logistics, L.P., both of which are indirectly wholly owned subsidiaries of ours. We conduct our operations through our subsidiaries, primarily NuStar Logistics, L.P. (NuStar Logistics) and NuStar Pipeline Operating Partnership L.P. (NuPOP). We have three business segments: pipeline, storage and fuels marketing. Recent Developments COVID-19. The coronavirus, or COVID-19, had a severe negative impact on global economic activity during 2020, significantly reducing demand for petroleum products and increasing the volatility of crude oil prices, beginning in March 2020. Amid signs of stabilization and improvement across the U.S. economy in 2021, ongoing uncertainty surrounding the COVID-19 pandemic has caused and may continue to cause volatility and could have a significant impact on management’s estimates and assumptions in 2021 and beyond. Senior Notes. On February 1, 2021, we repaid our $300.0 million of 6.75% senior notes at maturity with borrowings under our revolving credit agreement. Term Loan Credit Agreement. On February 16, 2021, we terminated an unsecured term loan credit agreement with certain lenders and Oaktree Fund Administration, LLC, as administrative agent for the lenders (the Term Loan). Please refer to Note 5 for further discussion about the Term Loan. Selby Terminal Fire. On October 15, 2019, our terminal facility in Selby, California experienced a fire that destroyed two storage tanks and temporarily shut down the terminal. For the three months ended March 31, 2021, we received insurance proceeds of $20.5 million and for the year ended December 31, 2020, we received insurance proceeds of $35.0 million, including $11.9 million in the first quarter of 2020. Gains from business interruption insurance of $4.0 million and $3.1 million for the three months ended March 31, 2021 and March 31, 2020, respectively, are included in “Operating expenses” in the condensed consolidated statements of comprehensive income (loss). Insurance proceeds relate to cleanup costs and business interruption and are therefore included in “Cash flows from operating activities” in the consolidated statement of cash flows. We believe we have adequate insurance to offset additional costs. Basis of Presentation These unaudited condensed consolidated financial statements include the accounts of the Partnership and subsidiaries in which the Partnership has a controlling interest. Inter-partnership balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included, and all disclosures are adequate. All such adjustments are of a normal recurring nature unless disclosed otherwise. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2020.

NEW ACCOUNTING PRONOUNCEMENT

NEW ACCOUNTING PRONOUNCEMENT	3 Months Ended
	Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENT	NEW ACCOUNTING PRONOUNCEMENT Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In August 2020, the Financial Accounting Standards Board (FASB) issued guidance intended to simplify the accounting for convertible instruments by eliminating certain accounting models for convertible debt instruments and convertible preferred stock. In addition, the guidance amends the derivatives scope exception for contracts in an entity’s own equity, the disclosure requirements for convertible instruments, and certain earnings-per-unit guidance. The guidance is effective for annual periods

GOODWILL IMPAIRMENT

GOODWILL IMPAIRMENT	3 Months Ended
	Mar. 31, 2021
Goodwill, Impaired [Abstract]
GOODWILL IMPAIRMENT CHARGES	GOODWILL IMPAIRMENT In March 2020, the COVID-19 pandemic and actions taken by the Organization of Petroleum Exporting Countries and other oil-producing nations (OPEC+) resulted in severe disruptions in the capital and commodities markets, which led to significant decline in our unit price. As a result, our equity market capitalization fell significantly. The decline in crude oil prices and demand for petroleum products also led to a decline in expected earnings from some of our goodwill reporting units. These factors and others related to COVID-19 and OPEC+ caused us to conclude there were triggering events that occurred in March 2020 that required us to perform a goodwill impairment test as of March 31, 2020. We recognized a goodwill impairment charge of $225.0 million in the first quarter of 2020, which is reported in the pipeline segment. Our assessment did not identify any other reporting units at risk of a goodwill impairment. We calculated the estimated fair value of each of our reporting units using a weighted-average of values determined from an income approach and a market approach. The income approach involves estimating the fair value of each reporting unit by discounting its estimated future cash flows using a discount rate that would be consistent with a market participant’s assumption. The market approach bases the fair value measurement on information obtained from observed stock prices of public companies and recent merger and acquisition transaction data of comparable entities. In order to estimate the fair value of goodwill, management must make certain estimates and assumptions that affect the total fair value of the reporting unit including, among other things, an assessment of market conditions, projected cash flows, discount rates and growth rates. Management’s estimates of projected cash flows related to the reporting unit include, but are not limited to, future earnings of the reporting unit, assumptions about the use or disposition of assets included in the reporting unit, estimated remaining lives of those assets, and future expenditures necessary to maintain the asset’s existing service potential. The assumptions in the fair value measurement reflect the current market environment, industry-specific factors and company-specific factors. We assess goodwill for impairment annually on October 1, or more frequently if events or changes in circumstances indicate it might be impaired, and completed our most recent quantitative assessment on October 1, 2020. Although we determined that no impairment charges resulted from our October 1, 2020 impairment assessment, the fair value of the crude oil pipelines reporting unit, which is included in the pipeline reporting segment, exceeded its carrying value by approximately 4.0%. The goodwill associated with the crude oil pipelines reporting unit totaled $308.6 million as of March 31, 2021 and October 1, 2020. Considering that the carrying value of the reporting unit was written down to its fair value with the first quarter of 2020 impairment charge discussed above, changes to certain assumptions used in our estimate could cause the fair value to be less than the carrying value of the crude oil pipelines reporting unit, resulting in an impairment. Through the filing date of this report, we did not identify any factors that warrant an evaluation of the recoverability of the carrying value of our long-lived assets or goodwill as of March 31, 2021. Management’s estimates are based on numerous assumptions about future operations and market conditions, which we believe to be reasonable but are inherently uncertain. The uncertainties underlying our assumptions and estimates, including uncertainty surrounding the COVID-19 pandemic, could differ significantly from actual results and lead to a different determination of the fair value of our assets.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Contract Assets and Contract Liabilities The following table provides information about contract assets and contract liabilities from contracts with customers: 2021 2020 Contract Assets Contract Liabilities Contract Assets Contract Liabilities (Thousands of Dollars) Balances as of January 1: Current portion $ 2,694 $ (22,019) $ 2,140 $ (21,083) Noncurrent portion 932 (47,537) 1,003 (40,289) Total 3,626 (69,556) 3,143 (61,372) Activity: Additions 92 (9,658) 1,357 (11,883) Transfer to accounts receivable (1,990) — (1,289) — Transfer to revenues (125) 15,877 — 10,765 Total (2,023) 6,219 68 (1,118) Balances as of March 31: Current portion 733 (16,524) 1,812 (20,421) Noncurrent portion 870 (46,813) 1,399 (42,069) Total $ 1,603 $ (63,337) $ 3,211 $ (62,490) Remaining Performance Obligations The following table presents our estimated revenue from contracts with customers for remaining performance obligations that has not yet been recognized, representing our contractually committed revenue as of March 31, 2021 (in thousands of dollars): 2021 (remaining) $ 374,191 2022 377,763 2023 266,357 2024 185,483 2025 128,561 Thereafter 176,465 Total $ 1,508,820 Our contractually committed revenue, for purposes of the tabular presentation above, is generally limited to customer service contracts that have fixed pricing and fixed volume terms and conditions, generally including contracts with payment obligations for take-or-pay minimum volume commitments. Disaggregation of Revenues The following table disaggregates our revenues: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Pipeline segment: Crude oil pipelines $ 74,588 $ 91,722 Refined products and ammonia pipelines (excluding lessor revenues) 94,640 103,134 Total pipeline segment revenues from contracts with customers 169,228 194,856 Lessor revenues — 825 Total pipeline segment revenues 169,228 195,681 Storage segment: Throughput terminals 24,794 38,723 Storage terminals (excluding lessor revenues) 73,416 74,166 Total storage segment revenues from contracts with customers 98,210 112,889 Lessor revenues 10,364 10,328 Total storage segment revenues 108,574 123,217 Fuels marketing segment: Revenues from contracts with customers 83,855 73,902 Consolidation and intersegment eliminations (11) (9) Total revenues $ 361,646 $ 392,791

DEBT

DEBT	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Agreement On February 16, 2021, NuStar Logistics amended its $1.0 billion revolving credit agreement due October 27, 2023 (the Revolving Credit Agreement) to, among other things, expand certain adjustments related to our maximum consolidated debt coverage ratio and minimum consolidated interest coverage ratio. As of March 31, 2021, we had $157.0 million of borrowings outstanding and $837.8 million available for borrowing under the Revolving Credit Agreement. Letters of credit issued under the Revolving Credit Agreement totaled $5.2 million as of March 31, 2021 and restrict the amount we can borrow under the Revolving Credit Agreement. Obligations under the Revolving Credit Agreement are guaranteed by NuStar Energy and NuPOP. The Revolving Credit Agreement provides for U.S. dollar borrowings, which bear interest, at our option, based on an alternative base rate or a LIBOR-based rate. The interest rate on the Revolving Credit Agreement is subject to adjustment if our debt rating is downgraded (or upgraded) by certain credit rating agencies. As of March 31, 2021, our weighted-average interest rate related to borrowings under the Revolving Credit Agreement was 2.7%. The Revolving Credit Agreement is subject to maximum consolidated debt coverage ratio and minimum consolidated interest coverage ratio requirements, which may limit the amount we can borrow under the Revolving Credit Agreement to an amount less than the total amount available for borrowing. For the rolling period of four quarters ending March 31, 2021, the consolidated debt coverage ratio (as defined in the Revolving Credit Agreement) could not exceed 5.00-to-1.00 and the consolidated interest coverage ratio (as defined in the Revolving Credit Agreement) must not be less than 1.75-to-1.00. As of March 31, 2021, we believe that we are in compliance with the covenants in the Revolving Credit Agreement. NuStar Logistics Senior Notes Senior Note Repayment. We repaid our $300.0 million of 6.75% senior notes due February 1, 2021 with borrowings under our Revolving Credit Agreement. Current Maturities. We expect to fund senior note maturities in February 2022 by utilizing borrowings under our Revolving Credit Agreement. Therefore, these senior note maturities are classified as long-term debt. Term Loan Credit Agreement On April 19, 2020, NuStar Energy and NuStar Logistics entered into an unsecured term loan credit agreement with certain lenders and Oaktree Fund Administration, LLC, as administrative agent for the lenders. The Term Loan provided for an aggregate commitment of up to $750.0 million pursuant to a three-year unsecured term loan credit facility. NuStar Logistics drew $500.0 million on April 21, 2020, which we repaid on September 16, 2020. On February 16, 2021, we terminated the Term Loan. Receivables Financing Agreement NuStar Energy and NuStar Finance LLC (NuStar Finance), a special purpose entity and wholly owned subsidiary of NuStar Energy, are parties to a $100.0 million receivables financing agreement with a third-party lender (the Receivables Financing Agreement) and agreements with certain of NuStar Energy’s wholly owned subsidiaries (collectively with the Receivables Financing Agreement, the Securitization Program). NuStar Energy provides a performance guarantee in connection with the Securitization Program. NuStar Finance’s sole activity consists of purchasing receivables from NuStar Energy’s subsidiaries that participate in the Securitization Program and providing these receivables as collateral for NuStar Finance’s revolving borrowings under the Securitization Program. NuStar Finance is a separate legal entity and the assets of NuStar Finance, including these accounts receivable, are not available to satisfy the claims of creditors of NuStar Energy, its subsidiaries selling receivables under the Securitization Program or their affiliates. The amount available for borrowing is based on the availability of eligible receivables and other customary factors and conditions. Borrowings by NuStar Finance under the Receivables Financing Agreement bear interest at the applicable bank rate, as defined under the Receivables Financing Agreement. The weighted average interest rate related to outstanding borrowings under the Securitization Program as of March 31, 2021 was 2.3%. As of March 31, 2021, $111.2 million of our accounts receivable was included in the Securitization Program. The amount of borrowings outstanding under the Receivables Financing Agreement totaled $52.3 million as of March 31, 2021. Fair Value of Long-Term Debt The estimated fair values and carrying amounts of long-term debt, excluding finance leases, were as follows: March 31, 2021 December 31, 2020 (Thousands of Dollars) Fair value $ 3,666,778 $ 3,799,378 Carrying amount $ 3,392,617 $ 3,539,258 We have estimated the fair value of our publicly traded notes based upon quoted prices in active markets; therefore, we determined that the fair value of our publicly traded notes falls in Level 1 of the fair value hierarchy. With regard to our other debt, for which a quoted market price is not available, we have estimated the fair value using a discounted cash flow analysis using current incremental borrowing rates for similar types of borrowing arrangements and determined that the fair value falls in Level 2 of the fair value hierarchy. The carrying amount includes net fair value adjustments, unamortized discounts and unamortized debt issuance costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESWe have contingent liabilities resulting from various litigation, claims and commitments. We record accruals for loss contingencies when losses are considered probable and can be reasonably estimated. Legal fees associated with defending the Partnership in legal matters are expensed as incurred. We accrued $2.5 million and $2.6 million for contingent losses as of March 31, 2021 and December 31, 2020, respectively. The amount that will ultimately be paid related to such matters may differ from the recorded accruals, and the timing of such payments is uncertain. We evaluate each contingent loss at least quarterly, and more frequently as each matter progresses and develops over time, and we do not believe that the resolution of any particular claim or proceeding, or all matters in the aggregate, would have a material adverse effect on our results of operations, financial position or liquidity.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES We utilize various derivative instruments to manage our exposure to interest rate risk and commodity price risk. Our risk management policies and procedures are designed to monitor interest rates, futures and swap positions and over-the-counter positions, as well as physical commodity volumes, grades, locations and delivery schedules, to help ensure that our hedging activities address our market risks. Derivative financial instruments associated with commodity price risk with respect to our petroleum product inventories and related firm commitments to purchase and/or sell such inventories were not material for any periods presented. We were a party to certain interest rate swap agreements to manage our exposure to changes in interest rates, which consisted of forward-starting interest rate swap agreements related to a forecasted debt issuance in 2020. We entered into these swaps in order to hedge the risk of fluctuations in the required interest payments attributable to changes in the benchmark interest rate during the period from the effective date of the swap to the issuance of the forecasted debt. Under the terms of the swaps, we paid a weighted-average fixed rate and received a rate based on the three-month USD LIBOR. These swaps qualified as cash flow hedges, and we designated them as such. We recorded mark-to-market adjustments as a component of “Accumulated other comprehensive loss” (AOCI), and the amount in AOCI is recognized in “Interest expense, net” as the forecasted interest payments occur or if the interest payments are probable not to occur. In June 2020, we terminated forward-starting interest rate swaps with an aggregate notional amount of $250.0 million and paid $49.2 million, which is amortized into “Interest expense, net” as the related forecasted interest payments occur. Our forward-starting interest rate swaps had the following impact on earnings: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Loss recognized in other comprehensive loss on derivative $ — $ (29,830) Loss reclassified from AOCI into interest expense, net $ (1,348) $ (647) As of March 31, 2021, we expect to reclassify a loss of $4.8 million to “Interest expense, net” within the next twelve months associated with unwound forward-starting interest rate swaps.

SERIES D CUMULATIVE CONVERTIBLE

SERIES D CUMULATIVE CONVERTIBLE PREFERRED UNITS	3 Months Ended
	Mar. 31, 2021
Temporary Equity Disclosure [Abstract]
SERIES D CUMULATIVE COVERTIBLE PREFERRED UNITS	SERIES D CUMULATIVE CONVERTIBLE PREFERRED UNITS Distributions on the Series D Cumulative Convertible Preferred Units (Series D Preferred Units) are payable out of any legally available funds, accrue and are cumulative from the original issuance dates, and are payable on the 15th day (or next business day) of each of March, June, September and December, to holders of record on the first business day of each payment month. The distribution rates on the Series D Preferred Units are as follows: (i) 9.75%, or $57.6 million, per annum ($0.619 per unit per distribution period) for the first two years (beginning with the September 17, 2018 distribution); (ii) 10.75%, or $63.4 million, per annum ($0.682 per unit per distribution period) for years three through five; and (iii) the greater of 13.75%, or $81.1 million, per annum ($0.872 per unit per distribution period) or the distribution per common unit thereafter. While the Series D Preferred Units are outstanding, the Partnership will be prohibited from paying distributions on any junior securities, including the common units, unless full cumulative distributions on the Series D Preferred Units (and any parity securities) have been, or contemporaneously are being, paid or set aside for payment through the most recent Series D Preferred Unit distribution payment date. Any Series D Preferred Unit distributions in excess of $0.635 per unit may be paid, in the Partnership’s sole discretion, in additional Series D Preferred Units, with the remainder paid in cash. In April 2021, our board of directors declared distributions of $0.682 per Series D Preferred Unit to be paid on June 15, 2021.

PARTNERS' EQUITY

PARTNERS' EQUITY	3 Months Ended
	Mar. 31, 2021
Partners' Capital Notes [Abstract]
PARTNERS' EQUITY	PARTNERS' EQUITY Series A, B and C Preferred Units We allocate net income to our 8.50% Series A, 7.625% Series B and 9.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (collectively, the Series A, B and C Preferred Units) equal to the amount of distributions earned during the period. Distributions on our Series A, B and C Preferred Units are payable out of any legally available funds, accrue and are cumulative from the original issuance dates, and are payable on the 15th day (or next business day) of each of March, June, September and December of each year to holders of record on the first business day of each payment month as follows (until the distribution rate changes to a floating rate): Units Fixed Distribution Rate Per Unit Per Quarter Fixed Distribution Date at Which Distribution (Thousands of Dollars) Series A Preferred Units $ 0.53125 $ 4,813 December 15, 2021 Series B Preferred Units $ 0.47657 $ 7,339 June 15, 2022 Series C Preferred Units $ 0.56250 $ 3,881 December 15, 2022 In April 2021, our board of directors declared distributions with respect to the Series A, B and C Preferred Units to be paid on June 15, 2021. Common Limited Partners We make quarterly distributions to common unitholders of 100% of our “Available Cash,” generally defined as cash receipts less cash disbursements, including distributions to our preferred units , and cash reserves established by the general partner, in its sole discretion. These quarterly distributions are declared and paid within 45 days subsequent to each quarter-end. The common unitholders receive a distribution each quarter as determined by the board of directors, subject to limitation by the distributions in arrears, if any, on our preferred units. The following table summarizes information about quarterly cash distributions declared for our common limited partners: Quarter Ended Cash Distributions Total Cash Record Date Payment Date (Thousands of Dollars) March 31, 2021 $ 0.40 $ 43,834 May 10, 2021 May 14, 2021 December 31, 2020 $ 0.40 $ 43,787 February 8, 2021 February 12, 2021 Accumulated Other Comprehensive Income (Loss) The balance of and changes in the components included in AOCI were as follows: Three Months Ended March 31, 2021 2020 Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total (Thousands of Dollars) Balance as of January 1 $ (42,362) $ (42,150) $ (12,144) $ (96,656) $ (43,772) $ (16,124) $ (8,000) $ (67,896) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 957 — — 957 (6,828) (29,830) — (36,658) Net gain on pension costs reclassified into other income, net — — (187) (187) — — (305) (305) Net loss on cash flow hedges reclassified into interest expense, net — 1,348 — 1,348 — 647 — 647 Other — — 2 2 — — 3 3 Other comprehensive income (loss) 957 1,348 (185) 2,120 (6,828) (29,183) (302) (36,313) Balance as of March 31 $ (41,405) $ (40,802) $ (12,329) $ (94,536) $ (50,600) $ (45,307) $ (8,302) $ (104,209)

NET INCOME (LOSS) PER COMMON UN

NET INCOME (LOSS) PER COMMON UNIT	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER COMMON UNIT	NET INCOME (LOSS) PER COMMON UNIT Basic net income (loss) per common unit is determined pursuant to the two-class method. Under this method, all earnings are allocated to our limited partners and participating securities based on their respective rights to receive distributions earned during the period. Participating securities include restricted units awarded under our long-term incentive plans. We compute basic net income (loss) per common unit by dividing net income (loss) attributable to common units by the weighted-average number of common units outstanding during the period. We compute diluted net income (loss) per common unit by dividing net income (loss) attributable to common units by the sum of (i) the weighted average number of common units outstanding during the period and (ii) the effect of dilutive potential common units outstanding during the period. Dilutive potential common units may include contingently issuable performance unit awards and the Series D Preferred Units. The Series D Preferred Units are convertible into common units at the option of the holder at any time on or after June 29, 2020. As such, we calculated the dilutive effect of the Series D Preferred Units using the if-converted method. The effect of the assumed conversion of the Series D Preferred Units outstanding as of the end of each period presented was antidilutive; therefore, we did not include such conversion in the computation of diluted net income (loss) per common unit. Contingently issuable performance units are included as dilutive potential common units if it is probable that that performance measures will be achieved, unless to do so would be antidilutive. The following table details the calculation of net income (loss) per common unit: Three Months Ended March 31, 2021 2020 (Thousands of Dollars, Except Unit and Per Unit Data) Net income (loss) $ 42,257 $ (147,641) Distributions to preferred limited partners (31,887) (30,423) Distributions to common limited partners (43,834) (43,730) Distribution equivalent rights to restricted units (598) (506) Distributions in excess of income (loss) $ (34,062) $ (222,300) Distributions to common limited partners $ 43,834 $ 43,730 Allocation of distributions in excess of income (loss) (34,062) (222,300) Series D Preferred Unit accretion (4,021) (4,902) Net income (loss) attributable to common units $ 5,751 $ (183,472) Basic and diluted weighted-average common units outstanding 109,506,222 108,897,400 Basic and diluted net income (loss) per common unit $ 0.05 $ (1.68)

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Changes in current assets and current liabilities were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Decrease (increase) in current assets: Accounts receivable $ 12,232 $ 7,778 Inventories (6,471) 1,648 Other current assets 9,689 7,007 Increase (decrease) in current liabilities: Accounts payable 5,067 (18,082) Accrued interest payable 27,149 2,680 Accrued liabilities (19,082) (5,679) Taxes other than income tax (4,187) (5,137) Changes in current assets and current liabilities $ 24,397 $ (9,785) The above changes in current assets and current liabilities differ from changes between amounts reflected in the applicable consolidated balance sheets due to: • the change in the amount accrued for capital expenditures; • the effect of foreign currency translation; • changes in the fair values of our interest rate swap agreements prior to termination; and • the effect of accrued compensation expense paid with fully vested common unit awards. Cash flows related to interest and income taxes were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Cash paid for interest, net of amount capitalized $ 24,737 $ 43,172 Cash paid for income taxes, net of tax refunds received $ 554 $ 90 As of March 31, 2021 and December 31, 2020, restricted cash, representing legally restricted funds that are unavailable for general use, is included in "Other long-term assets, net" on the consolidated balance sheets. “Cash, cash equivalents and restricted cash” on the consolidated statements of cash flows was included in the consolidated balance sheets as follows: March 31, 2021 December 31, 2020 (Thousands of Dollars) Cash and cash equivalents $ 28,246 $ 153,625 Other long-term assets, net 8,801 8,801 Cash, cash equivalents and restricted cash $ 37,047 $ 162,426

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our reportable business segments consist of the pipeline, storage and fuels marketing segments. Our segments represent strategic business units that offer different services and products. We evaluate the performance of each segment based on its respective operating income (loss), before general and administrative expenses and certain non-segmental depreciation and amortization expense. General and administrative expenses are not allocated to the operating segments since those expenses relate primarily to the overall management at the entity level. Our principal operations include the transportation of petroleum products and anhydrous ammonia, and the terminalling, storage and marketing of petroleum products. Results of operations for the reportable segments were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Revenues: Pipeline $ 169,228 $ 195,681 Storage 108,574 123,217 Fuels marketing 83,855 73,902 Consolidation and intersegment eliminations (11) (9) Total revenues $ 361,646 $ 392,791 Operating income (loss): Pipeline $ 79,379 $ (122,924) Storage 42,718 48,579 Fuels marketing 2,731 6,443 Total segment operating income (loss) 124,828 (67,902) General and administrative expenses 24,492 22,971 Other depreciation and amortization expense 2,047 2,186 Total operating income (loss) $ 98,289 $ (93,059) Total assets by reportable segment were as follows: March 31, December 31, (Thousands of Dollars) Pipeline $ 3,568,565 $ 3,609,508 Storage 1,881,051 1,897,167 Fuels marketing 45,052 31,967 Total segment assets 5,494,668 5,538,642 Other partnership assets 149,204 278,376 Total consolidated assets $ 5,643,872 $ 5,817,018

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability [Table Text Block]	The following table provides information about contract assets and contract liabilities from contracts with customers: 2021 2020 Contract Assets Contract Liabilities Contract Assets Contract Liabilities (Thousands of Dollars) Balances as of January 1: Current portion $ 2,694 $ (22,019) $ 2,140 $ (21,083) Noncurrent portion 932 (47,537) 1,003 (40,289) Total 3,626 (69,556) 3,143 (61,372) Activity: Additions 92 (9,658) 1,357 (11,883) Transfer to accounts receivable (1,990) — (1,289) — Transfer to revenues (125) 15,877 — 10,765 Total (2,023) 6,219 68 (1,118) Balances as of March 31: Current portion 733 (16,524) 1,812 (20,421) Noncurrent portion 870 (46,813) 1,399 (42,069) Total $ 1,603 $ (63,337) $ 3,211 $ (62,490)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	The following table presents our estimated revenue from contracts with customers for remaining performance obligations that has not yet been recognized, representing our contractually committed revenue as of March 31, 2021 (in thousands of dollars): 2021 (remaining) $ 374,191 2022 377,763 2023 266,357 2024 185,483 2025 128,561 Thereafter 176,465 Total $ 1,508,820
Disaggregation of Revenue [Table Text Block]	The following table disaggregates our revenues: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Pipeline segment: Crude oil pipelines $ 74,588 $ 91,722 Refined products and ammonia pipelines (excluding lessor revenues) 94,640 103,134 Total pipeline segment revenues from contracts with customers 169,228 194,856 Lessor revenues — 825 Total pipeline segment revenues 169,228 195,681 Storage segment: Throughput terminals 24,794 38,723 Storage terminals (excluding lessor revenues) 73,416 74,166 Total storage segment revenues from contracts with customers 98,210 112,889 Lessor revenues 10,364 10,328 Total storage segment revenues 108,574 123,217 Fuels marketing segment: Revenues from contracts with customers 83,855 73,902 Consolidation and intersegment eliminations (11) (9) Total revenues $ 361,646 $ 392,791

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Fair Value and Carrying Value of Debt [Table Text Block]	The estimated fair values and carrying amounts of long-term debt, excluding finance leases, were as follows: March 31, 2021 December 31, 2020 (Thousands of Dollars) Fair value $ 3,666,778 $ 3,799,378 Carrying amount $ 3,392,617 $ 3,539,258

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]	Our forward-starting interest rate swaps had the following impact on earnings: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Loss recognized in other comprehensive loss on derivative $ — $ (29,830) Loss reclassified from AOCI into interest expense, net $ (1,348) $ (647)

PARTNERS' EQUITY (Tables)

PARTNERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2021
Distribution Made to Preferred Limited Partner [Line Items]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The balance of and changes in the components included in AOCI were as follows: Three Months Ended March 31, 2021 2020 Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total (Thousands of Dollars) Balance as of January 1 $ (42,362) $ (42,150) $ (12,144) $ (96,656) $ (43,772) $ (16,124) $ (8,000) $ (67,896) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 957 — — 957 (6,828) (29,830) — (36,658) Net gain on pension costs reclassified into other income, net — — (187) (187) — — (305) (305) Net loss on cash flow hedges reclassified into interest expense, net — 1,348 — 1,348 — 647 — 647 Other — — 2 2 — — 3 3 Other comprehensive income (loss) 957 1,348 (185) 2,120 (6,828) (29,183) (302) (36,313) Balance as of March 31 $ (41,405) $ (40,802) $ (12,329) $ (94,536) $ (50,600) $ (45,307) $ (8,302) $ (104,209)
Preferred Limited Partner [Member]
Distribution Made to Preferred Limited Partner [Line Items]
Distributions Made to Limited Partner, by Distribution [Table Text Block]	Distributions on our Series A, B and C Preferred Units are payable out of any legally available funds, accrue and are cumulative from the original issuance dates, and are payable on the 15th day (or next business day) of each of March, June, September and December of each year to holders of record on the first business day of each payment month as follows (until the distribution rate changes to a floating rate): Units Fixed Distribution Rate Per Unit Per Quarter Fixed Distribution Date at Which Distribution (Thousands of Dollars) Series A Preferred Units $ 0.53125 $ 4,813 December 15, 2021 Series B Preferred Units $ 0.47657 $ 7,339 June 15, 2022 Series C Preferred Units $ 0.56250 $ 3,881 December 15, 2022
Common Limited Partner [Member]
Distribution Made to Preferred Limited Partner [Line Items]
Distributions Made to Limited Partner, by Distribution [Table Text Block]	The following table summarizes information about quarterly cash distributions declared for our common limited partners: Quarter Ended Cash Distributions Total Cash Record Date Payment Date (Thousands of Dollars) March 31, 2021 $ 0.40 $ 43,834 May 10, 2021 May 14, 2021 December 31, 2020 $ 0.40 $ 43,787 February 8, 2021 February 12, 2021

NET INCOME (LOSS) PER COMMON _2

NET INCOME (LOSS) PER COMMON UNIT (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Common Unit	The following table details the calculation of net income (loss) per common unit: Three Months Ended March 31, 2021 2020 (Thousands of Dollars, Except Unit and Per Unit Data) Net income (loss) $ 42,257 $ (147,641) Distributions to preferred limited partners (31,887) (30,423) Distributions to common limited partners (43,834) (43,730) Distribution equivalent rights to restricted units (598) (506) Distributions in excess of income (loss) $ (34,062) $ (222,300) Distributions to common limited partners $ 43,834 $ 43,730 Allocation of distributions in excess of income (loss) (34,062) (222,300) Series D Preferred Unit accretion (4,021) (4,902) Net income (loss) attributable to common units $ 5,751 $ (183,472) Basic and diluted weighted-average common units outstanding 109,506,222 108,897,400 Basic and diluted net income (loss) per common unit $ 0.05 $ (1.68)

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Information [Abstract]
Schedule of Changes in Current Assets and Liabilities [Table Text Block]	Changes in current assets and current liabilities were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Decrease (increase) in current assets: Accounts receivable $ 12,232 $ 7,778 Inventories (6,471) 1,648 Other current assets 9,689 7,007 Increase (decrease) in current liabilities: Accounts payable 5,067 (18,082) Accrued interest payable 27,149 2,680 Accrued liabilities (19,082) (5,679) Taxes other than income tax (4,187) (5,137) Changes in current assets and current liabilities $ 24,397 $ (9,785)
Schedule of Supplemental Cash Flow Information [Table Text Block]	Cash flows related to interest and income taxes were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Cash paid for interest, net of amount capitalized $ 24,737 $ 43,172 Cash paid for income taxes, net of tax refunds received $ 554 $ 90
Schedule of Cash and Cash Equivalents [Table Text Block]	“Cash, cash equivalents and restricted cash” on the consolidated statements of cash flows was included in the consolidated balance sheets as follows: March 31, 2021 December 31, 2020 (Thousands of Dollars) Cash and cash equivalents $ 28,246 $ 153,625 Other long-term assets, net 8,801 8,801 Cash, cash equivalents and restricted cash $ 37,047 $ 162,426

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Results of operations for the reportable segments were as follows: Three Months Ended March 31, 2021 2020 (Thousands of Dollars) Revenues: Pipeline $ 169,228 $ 195,681 Storage 108,574 123,217 Fuels marketing 83,855 73,902 Consolidation and intersegment eliminations (11) (9) Total revenues $ 361,646 $ 392,791 Operating income (loss): Pipeline $ 79,379 $ (122,924) Storage 42,718 48,579 Fuels marketing 2,731 6,443 Total segment operating income (loss) 124,828 (67,902) General and administrative expenses 24,492 22,971 Other depreciation and amortization expense 2,047 2,186 Total operating income (loss) $ 98,289 $ (93,059)
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Total assets by reportable segment were as follows: March 31, December 31, (Thousands of Dollars) Pipeline $ 3,568,565 $ 3,609,508 Storage 1,881,051 1,897,167 Fuels marketing 45,052 31,967 Total segment assets 5,494,668 5,538,642 Other partnership assets 149,204 278,376 Total consolidated assets $ 5,643,872 $ 5,817,018

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION Narrative 1 (Details)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments	3

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION Narrative 2 - Senior Notes (Details) - Logistics Notes due 2021 $ in Thousands	Jan. 31, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 300,000
Long-term debt, rate	6.75%

ORGANIZATION AND BASIS OF PRE_4

ORGANIZATION AND BASIS OF PRESENTATION Narrative 3 - Selby Fire (Details) - USD ($) $ in Thousands	Oct. 15, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Unusual or Infrequent Item, or Both [Line Items]
Impact of fire at Selby, CA terminal	our terminal facility in Selby, California experienced a fire that destroyed two storage tanks and temporarily shut down the terminal
Insurance proceeds received		$ 20,500	$ 11,900	$ 35,000
Business Interruption Insurance from Selby, California Fire [Member] | Operating Expense [Member]
Unusual or Infrequent Item, or Both [Line Items]
Insurance proceeds received		$ 4,000	$ 3,100

GOODWILL IMPAIRMENT Narrative (

GOODWILL IMPAIRMENT Narrative (Details) - USD ($) $ in Thousands	Oct. 01, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Goodwill [Line Items]
Goodwill impairment loss	$ 0	$ 0	$ 225,000
Goodwill		766,416		$ 766,416
Crude Oil Pipelines [Member] | Pipeline Segment
Goodwill [Line Items]
Goodwill impairment loss			$ 225,000
Reporting unit, percentage of fair value in excess of carrying amount	4.00%
Goodwill	$ 308,600	$ 308,600

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS Table 1 - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Contract assets
Current portion	$ 733	$ 1,812	$ 2,694	$ 2,140
Noncurrent portion	870	1,399	932	1,003
Total	1,603	3,211	3,626	3,143
Additions	92	1,357
Transfer to accounts receivable	(1,990)	(1,289)
Transfer to revenues, contract assets	(125)	0
Total activity	(2,023)	68
Contract liabilities
Current portion	(16,524)	(20,421)	(22,019)	(21,083)
Noncurrent portion	(46,813)	(42,069)	(47,537)	(40,289)
Total	(63,337)	(62,490)	$ (69,556)	$ (61,372)
Additions	(9,658)	(11,883)
Transfer to revenues, contract liabilities	15,877	10,765
Total activity	$ 6,219	$ (1,118)

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS Table 2 - Expected Timing of Satisfaction of Performance Obligations (Details) $ in Thousands	Mar. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 1,508,820
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 374,191
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 377,763
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 266,357
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 185,483
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 128,561
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 176,465
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS Table 3 - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 361,646	$ 392,791
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total revenues	(11)	(9)
Pipeline Segment
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	169,228	194,856
Lessor revenues	0	825
Total revenues	169,228	195,681
Pipeline Segment | Crude Oil Pipelines [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	74,588	91,722
Pipeline Segment | Refined Products and Ammonia Pipelines [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	94,640	103,134
Storage Segment
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	98,210	112,889
Lessor revenues	10,364	10,328
Total revenues	108,574	123,217
Storage Segment | Throughput Terminal [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	24,794	38,723
Storage Segment | Storage Terminal [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	73,416	74,166
Fuels Marketing Segment
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	83,855	73,902
Total revenues	$ 83,855	$ 73,902

DEBT Narrative 1 - Revolving Cr

DEBT Narrative 1 - Revolving Credit Agreement (Details) - Revolving Credit Agreement [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,000,000
Long-term debt	157,000
Current remaining borrowing capacity	837,800
Letters of credit outstanding, amount	$ 5,200
Line of credit facility, interest rate description	The interest rate on the Revolving Credit Agreement is subject to adjustment if our debt rating is downgraded (or upgraded) by certain credit rating agencies.
Line of credit facility, weighted-average interest rate	2.70%
Line of credit facility, covenant terms	For the rolling period of four quarters ending March 31, 2021, the consolidated debt coverage ratio (as defined in the Revolving Credit Agreement) could not exceed 5.00-to-1.00 and the consolidated interest coverage ratio (as defined in the Revolving Credit Agreement) must not be less than 1.75-to-1.00.

DEBT Narrative 2 - Senior Notes

DEBT Narrative 2 - Senior Notes (Details) - Logistics Notes due 2021 $ in Thousands	Jan. 31, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 300,000
Long-term debt, rate	6.75%

DEBT - Narrative 3 - Term Loan

DEBT - Narrative 3 - Term Loan (Details) - Unsecured Term Loan Credit Agreement [Member] - USD ($) $ in Millions	Sep. 15, 2020	Apr. 21, 2020
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 750
The Term Loan, Initial Loan	$ 500	$ 500
Long-term debt, term		3 years

DEBT - Narrative 4 - Receivable

DEBT - Narrative 4 - Receivables Financing Agreement (Details) - Receivables Financing Agreement [Member] $ in Millions	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100
Weighted average interest rate	2.30%
Debt instrument, collateral amount	$ 111.2
Long-term debt	$ 52.3

DEBT Table 1 - Fair Value of Lo

DEBT Table 1 - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Fair value, long-term debt	$ 3,666,778	$ 3,799,378
Long-term debt, excluding finance leases	$ 3,392,617	$ 3,539,258

COMMITMENTS AND CONTINGENCIES N

COMMITMENTS AND CONTINGENCIES Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Loss contingency accrual, at carrying value	$ 2.5	$ 2.6

DERIVATIVES Narrative 1 (Detail

DERIVATIVES Narrative 1 (Details) - USD ($) $ in Millions	1 Months Ended	5 Months Ended
	Jun. 30, 2020	May 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Cash paid from termination of interest rate swaps	$ 49.2
Interest rate swaps | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate swaps, interest rate received		received a rate based on the three-month USD LIBOR.
Notional amount of forward-starting interest rate swaps terminated		$ 250

DERIVATIVES Table 1 - Impact of

DERIVATIVES Table 1 - Impact of Derivatives on Earnings (Details) - Interest rate swaps - Designated as Hedging Instruments - Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other comprehensive income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss) on derivative	$ 0	$ (29,830)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from AOCI into interest expense, net	$ (1,348)	$ (647)

DERIVATIVES Narrative 2 (Detail

DERIVATIVES Narrative 2 (Details) $ in Thousands	Mar. 31, 2021USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Loss to be reclassified during next 12 months	$ (4,800)

SERIES D CUMULATIVE CONVERTIB_2

SERIES D CUMULATIVE CONVERTIBLE PREFERRED UNITS Narrative (Details) - Series D Preferred Limited Partner [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Class of Stock [Line Items]
Required amount of per unit cash dividends to permit dividend paid in kind		$ 0.635
Preferred Stock, Distributions, Period - June 29, 2018 to June 28, 2020 [Member]
Class of Stock [Line Items]
Preferred units distribution percentage, per annum		9.75%
Preferred units, distribution rate, per annum		$ 57,600
Preferred stock, dividend amount, per unit, per distribution period		$ 0.619
Preferred Stock, Distributions, Period - June 29, 2020 to June 28, 2023 [Member]
Class of Stock [Line Items]
Preferred units distribution percentage, per annum		10.75%
Preferred units, distribution rate, per annum		$ 63,400
Preferred stock, dividend amount, per unit, per distribution period		$ 0.682
Preferred Stock, Distributions, Period - June 29, 2023 and thereafter [Member]
Class of Stock [Line Items]
Preferred units, dividend payment rate, variable		the greater of 13.75%, or $81.1 million, per annum ($0.872 per unit per distribution period) or the distribution per common unit thereafter
Preferred Stock, Distributions, Period - June 29, 2023 and thereafter [Member] | Minimum [Member]
Class of Stock [Line Items]
Preferred units distribution percentage, per annum		13.75%
Preferred units, distribution rate, per annum		$ 81,100
Preferred stock, dividend amount, per unit, per distribution period		$ 0.872
Subsequent Event [Member]
Class of Stock [Line Items]
Preferred unit distribution	$ 0.682

PARTNERS' EQUITY Table 1 - Cash

PARTNERS' EQUITY Table 1 - Cash Distributions - Preferred Units (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Series A Preferred Limited Partner [Member]
Distribution Made to Preferred Limited Partner [Line Items]
Preferred units distribution percentage, per annum	8.50%
Preferred unit distribution | $ / shares	$ 0.53125
Fixed distribution per quarter | $	$ 4,813
Series B Preferred Limited Partner [Member]
Distribution Made to Preferred Limited Partner [Line Items]
Preferred units distribution percentage, per annum	7.625%
Preferred unit distribution | $ / shares	$ 0.47657
Fixed distribution per quarter | $	$ 7,339
Series C Preferred Limited Partner [Member]
Distribution Made to Preferred Limited Partner [Line Items]
Preferred units distribution percentage, per annum	9.00%
Preferred unit distribution | $ / shares	$ 0.56250
Fixed distribution per quarter | $	$ 3,881

PARTNERS' EQUITY Narrative (Det

PARTNERS' EQUITY Narrative (Details)	3 Months Ended
	Mar. 31, 2021
Partners' Capital Notes [Abstract]
Percent of available cash distributed	100.00%
Number of days within which distribution is paid to common unitholders	45

PARTNERS' EQUITY Table 2 - Cash

PARTNERS' EQUITY Table 2 - Cash Distributions Declared - Common Limited Partners (Details) - Common Limited Partner [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Distribution Made to Common Limited Partners [Line Items]
Cash distributions per unit	$ 0.40	$ 0.40
Cash distributions applicable to common unitholders	$ 43,834	$ 43,787
Distribution date of record	May 10, 2021	Feb. 8, 2021
Distribution payment date	May 14, 2021	Feb. 12, 2021

PARTNERS' EQUITY Table 3 - Bala

PARTNERS' EQUITY Table 3 - Balance of and Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (96,656)
Ending balance	(94,536)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(42,362)	$ (43,772)
Other comprehensive income (loss) before reclassification adjustments	957	(6,828)
Other	0	0
Other comprehensive income (loss)	957	(6,828)
Ending balance	(41,405)	(50,600)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(42,150)	(16,124)
Other comprehensive income (loss) before reclassification adjustments	0	(29,830)
Other	0	0
Other comprehensive income (loss)	1,348	(29,183)
Ending balance	(40,802)	(45,307)
Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(12,144)	(8,000)
Other comprehensive income (loss) before reclassification adjustments	0	0
Other	2	3
Other comprehensive income (loss)	(185)	(302)
Ending balance	(12,329)	(8,302)
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(96,656)	(67,896)
Other comprehensive income (loss) before reclassification adjustments	957	(36,658)
Other	2	3
Other comprehensive income (loss)	2,120	(36,313)
Ending balance	(94,536)	(104,209)
Other income, net | Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	0	0
Other income, net | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	0	0
Other income, net | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	(187)	(305)
Other income, net | Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	(187)	(305)
Interest expense, net | Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	0	0
Interest expense, net | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	1,348	647
Interest expense, net | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	0	0
Interest expense, net | Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net (gain) loss reclassified from AOCI	$ 1,348	$ 647

NET INCOME (LOSS) PER COMMON _3

NET INCOME (LOSS) PER COMMON UNIT Table - Net Income (Loss) per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 42,257	$ (147,641)
Distributions to preferred limited partners	(31,887)	(30,423)
Distributions to common limited partners	(43,834)	(43,730)
Distribution equivalent rights to restricted units	(598)	(506)
Distributions in excess of income (loss)	(34,062)	(222,300)
Distributions to common limited partners	43,834	43,730
Allocation of distributions in excess of income (loss)	(34,062)	(222,300)
Series D Preferred Unit accretion	(4,021)	(4,902)
Net income (loss) attributable to common units	$ 5,751	$ (183,472)
Basic weighted-average common units outstanding	109,506,222	108,897,400
Diluted weighted-average common units outstanding	109,506,222	108,897,400
Basic net income (loss) per common unit	$ 0.05	$ (1.68)
Diluted net income (loss) per common unit	$ 0.05	$ (1.68)

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Table 1 - Changes in Current Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Decrease (increase) in accounts receivable	$ 12,232	$ 7,778
Decrease (increase) in inventories	(6,471)	1,648
Decrease (increase) in other currrent assets	9,689	7,007
Increase (decrease) in accounts payable	5,067	(18,082)
Increase (decrease) in accrued interest payable	27,149	2,680
Increase (decrease) in accrued liabilities	(19,082)	(5,679)
Increase (decrease) in taxes other than income tax	(4,187)	(5,137)
Changes in current assets and current liabilities	$ 24,397	$ (9,785)

SUPPLEMENTAL CASH FLOW INFORM_4

SUPPLEMENTAL CASH FLOW INFORMATION - Table 2 - Cash Flows Related to Interest and Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Cash paid for interest, net of amount capitalized	$ 24,737	$ 43,172
Cash paid for income taxes, net of tax refunds received	$ 554	$ 90

SUPPLEMENTAL CASH FLOW INFORM_5

SUPPLEMENTAL CASH FLOW INFORMATION - Table 3 - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 28,246	$ 153,625
Cash, cash equivalents and restricted cash	37,047	162,426	$ 26,492	$ 24,980
Cash and cash equivalents [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	28,246	153,625
Other long-term assets, net [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Cash, cash equivalents and restricted cash	$ 8,801	$ 8,801

SEGMENT INFORMATION Table 1 - R

SEGMENT INFORMATION Table 1 - Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Total revenues	$ 361,646	$ 392,791
Operating income (loss):
General and administrative expenses	24,492	22,971
Other depreciation and amortization expense	2,047	2,186
Operating income (loss)	98,289	(93,059)
Pipeline Segment
Revenues:
Total revenues	169,228	195,681
Storage Segment
Revenues:
Total revenues	108,574	123,217
Fuels Marketing Segment
Revenues:
Total revenues	83,855	73,902
Total segment
Operating income (loss):
Operating income (loss)	124,828	(67,902)
Total segment | Pipeline Segment
Operating income (loss):
Operating income (loss)	79,379	(122,924)
Total segment | Storage Segment
Operating income (loss):
Operating income (loss)	42,718	48,579
Total segment | Fuels Marketing Segment
Operating income (loss):
Operating income (loss)	2,731	6,443
Intersegment Eliminations [Member]
Revenues:
Total revenues	$ (11)	$ (9)

SEGMENT INFORMATION Table 2 - A

SEGMENT INFORMATION Table 2 - Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Segment Information
Total assets	$ 5,643,872	$ 5,817,018
Total segment assets
Segment Information
Total assets	5,494,668	5,538,642
Total segment assets | Pipeline Segment
Segment Information
Total assets	3,568,565	3,609,508
Total segment assets | Storage Segment
Segment Information
Total assets	1,881,051	1,897,167
Total segment assets | Fuels Marketing Segment
Segment Information
Total assets	45,052	31,967
Other partnership assets
Segment Information
Total assets	$ 149,204	$ 278,376