Transmontaigne Partners (TLP) 10-K 5 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 05, 2021	Jun. 30, 2020
Document and Entity Information
Entity Registrant Name	TRANSMONTAIGNE PARTNERS LLC
Entity Central Index Key	0001319229
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Entity Public Float			$ 0
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 595	$ 1,090
Trade accounts receivable, net	9,203	16,500
Due from affiliates	2,986	2,882
Other current assets	5,623	6,346
Total current assets	18,407	26,818
Property, plant and equipment, net	737,501	727,220
Goodwill	9,428	9,428
Investments in unconsolidated affiliates	225,948	225,425
Right-of-use assets, operating leases	33,880	35,765
Other assets, net	44,042	47,397
TOTAL ASSETS	1,069,206	1,072,053
Current liabilities:
Trade accounts payable	14,000	24,650
Operating lease liabilities	3,284	3,001
Accrued liabilities	34,732	36,558
Total current liabilities	52,016	64,209
Other liabilities	4,820	4,990
Long-term operating lease liabilities	32,418	34,605
Long-term debt	644,659	644,162
Total liabilities	733,913	747,966
Commitments and contingencies (Note 13)
Equity:
Member interest	335,293	324,087
Total equity	335,293	324,087
TOTAL LIABILITIES AND EQUITY	$ 1,069,206	$ 1,072,053

Consolidated statements of oper

Consolidated statements of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Total revenue	$ 277,093	$ 263,042	$ 232,297
Costs and expenses:
Operating	(102,611)	(103,022)	(98,977)
General and administrative expenses	(21,657)	(23,660)	(23,707)
Insurance expenses	(4,973)	(4,995)	(4,976)
Deferred compensation expense	(1,834)	(2,308)	(3,478)
Depreciation and amortization	(57,400)	(52,535)	(49,793)
Total costs and expenses	(188,475)	(186,520)	(180,931)
Earnings from unconsolidated affiliates	6,498	4,894	8,852
Gain from insurance proceeds		3,351
Loss on disposition of assets			(901)
Operating income	95,116	84,767	59,317
Other expenses:
Interest expense	(31,194)	(36,196)	(31,900)
Amortization of deferred debt issuance costs	(2,574)	(2,657)	(3,037)
Total other expenses	(33,768)	(38,853)	(34,937)
Net earnings	61,348	45,914	24,380
External customers
Revenue:
Total revenue	248,287	234,275	211,303
Affiliate customers
Revenue:
Total revenue	$ 28,806	$ 28,767	$ 20,994

Consolidated statements of equi

Consolidated statements of equity - USD ($) $ in Thousands	Common units	General partner interest	Member interest	Total
Balance at Dec. 31, 2017	$ 308,493	$ 53,447		$ 361,940
Increase (Decrease) in Partners' Capital
Distributions to unitholders	(51,152)	(15,672)		(66,824)
Issuance of common units pursuant to our long-term incentive plan	270			270
Settlement of tax withholdings on equity-based compensation	(658)			(658)
Contribution of cash by TransMontaigne GP to maintain its 2% general partner interest		39		39
Contribution from TLP Holdings	16,230			16,230
Equity-based compensation	3,208			3,208
Net earnings	8,704	15,676		24,380
Balance at Dec. 31, 2018	285,095	53,490		338,585
Increase (Decrease) in Partners' Capital
Distributions to unitholders	(13,064)	(4,186)		(17,250)
Purchase of common units and conversion to member interest	(279,895)	(51,978)	$ 331,873
Reclassification of outstanding equity-based compensation to liability			(6,199)	(6,199)
Contribution from TLP Holdings	4,829		491	5,320
Equity-based compensation	45			45
Distributions to TLP Finance			(42,328)	(42,328)
Net earnings	$ 2,990	$ 2,674	40,250	45,914
Balance at Dec. 31, 2019			324,087	324,087
Increase (Decrease) in Partners' Capital
Contribution from TLP Holdings			313	313
Distributions to TLP Finance			(50,455)	(50,455)
Net earnings			61,348	61,348
Balance at Dec. 31, 2020			$ 335,293	$ 335,293

Consolidated statements of eq_2

Consolidated statements of equity (Parenthetical)	12 Months Ended
	Dec. 31, 2018shares
Issuance of common units pursuant to our long-term incentive plan (in units)	6,972
Issuance of common units pursuant to our savings and retention program (in units)	44,798
TransMontaigne GP
General partner interest (as a percent)	2.00%

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net earnings	$ 61,348	$ 45,914	$ 24,380
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	57,400	52,535	49,793
Loss on disposition of assets			901
Earnings from unconsolidated affiliates	(6,498)	(4,894)	(8,852)
Distributions from unconsolidated affiliates	13,232	11,432	15,565
Equity-based compensation		45	3,478
Amortization of deferred debt issuance costs	2,574	2,657	3,037
Amortization of deferred revenue	1,043	(714)	(324)
Unrealized (gain) loss on derivative instruments	(480)	623	433
Gain from insurance proceeds		(3,351)
Changes in operating assets and liabilities:
Trade accounts receivable, net	7,297	(2,451)	(3,696)
Due from affiliates	(104)	(819)	690
Other current assets	723	(152)	3,116
Amounts due under long-term terminaling services agreements, net	(2,345)	1,268	1,160
Right-of-use assets, operating leases	2,816	2,235
Deposits		10	(456)
Other assets, net	436	1,257
Trade accounts payable	(3,226)	(880)	3,092
Accrued liabilities	(1,340)	(2,068)	10,893
Operating lease liabilities	(2,835)	(2,058)
Net cash provided by operating activities	130,041	100,589	103,210
Cash flows from investing activities:
Investments in unconsolidated affiliates	(7,257)	(4,932)	(1,413)
Return of investment in unconsolidated affiliates			850
Capital expenditures	(72,737)	(91,023)	(66,331)
Proceeds from sale of assets			10,025
Proceeds from insurance claims		4,988
Net cash used in investing activities	(79,994)	(90,967)	(56,869)
Cash flows from financing activities:
Proceeds from senior notes			300,000
Borrowings under revolving credit facility	99,400	174,900	166,400
Repayments under revolving credit facility	(99,700)	(130,200)	(453,600)
Senior notes repurchase	(100)
Debt issuance costs			(7,871)
Taxes paid for equity compensation awards			(658)
Distributions paid to unitholders		(17,250)	(66,824)
Distributions to TLP Finance	(50,455)	(42,328)
Contributions from TLP Holdings	313	5,320	16,269
Net cash used in financing activities	(50,542)	(9,558)	(46,284)
Increase (decrease) in cash and cash equivalents	(495)	64	57
Cash and cash equivalents at beginning of period	1,090	1,026	969
Cash and cash equivalents at end of period	595	1,090	1,026
Supplemental disclosures of cash flow information:
Cash paid for interest	31,821	35,667	24,635
Property, plant and equipment acquired with accounts payable	$ 9,463	$ 16,869	$ 19,353

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Nature of business TransMontaigne Partners LLC (“we,” “us,” “our,” “the Company”) provides integrated terminaling, storage, transportation and related services for companies engaged in the trading, distribution and marketing of light refined petroleum products, heavy refined petroleum products, renewables products, crude oil, chemicals, fertilizers and other liquid products. We conduct our operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio rivers, in the Southeast and along the West Coast. We were originally formed as TransMontaigne Partners L.P. (“the Partnership”) in February 2005 as a Delaware limited partnership. Through February 26, 2019, the Partnership’s common units were listed and publicly traded on the New York Stock Exchange under the symbol “TLP”. The Partnership was controlled by a general partner, TransMontaigne GP L.L.C. (“TransMontaigne GP”), which was an indirect, controlled subsidiary of ArcLight Energy Partners Fund VI, L.P. (“ArcLight”). TransMontaigne GP also held the Partnership’s incentive distribution rights, which were non‑voting limited partner interests with the rights set forth in the First Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of May 27, 2005, as amended from time to time. On February 26, 2019, an affiliate of ArcLight completed its previously announced acquisition of all of the Partnership’s outstanding publicly traded common units not already held by ArcLight and its affiliates by way of our merger (the “Merger”) with a wholly owned subsidiary of TLP Finance Holdings, LLC (“TLP Finance”), an indirect controlled subsidiary of Arclight. At the effective time of the Merger, each of the Partnership’s general partner units issued and outstanding immediately prior to the acquisition effective time was converted into (i)(a) one Partnership common unit, and (b) in aggregate, a non-economic general partner interest in the Partnership, (ii) each of the Partnership’s incentive distribution rights issued and outstanding immediately prior to the acquisition effective time was converted into 100 Partnership common units, (iii) our general partner distributed its common units in the Partnership (the “Transferred GP Units”) to TLP Acquisition Holdings, LLC, a Delaware limited liability company (“TLP Holdings”), and TLP Holdings contributed the Transferred GP Units to TLP Finance, (iv) the Partnership converted into the Company (a Delaware limited liability company) pursuant to Section 17-219 of the Delaware Limited Partnership Act and changed its name to “TransMontaigne Partners LLC”, and all of our common units owned by TLP Finance were converted into limited liability company interests (“member interest”), (v) the non-economic interest in the Company owned by our general partner was automatically cancelled and ceased to exist and our general partner merged with and into the Company with the Company surviving, and (vi) the Company became 100% owned by TLP Finance (the transactions described in the foregoing clauses (i) through (vi), collectively with the Merger, the “Take-Private Transaction”). As a result of the Take-Private Transaction, our common units ceased to be publicly traded, and our common units are no longer listed on the New York Stock Exchange. Our 6.125% senior unsecured notes due in 2026 remain outstanding, and we are voluntarily filing with the Securities and Exchange Commission pursuant to the covenants contained in those notes. Effective June 1, 2019, TLP Finance contributed all of the issued and outstanding equity of its wholly-owned subsidiary, TLP Management Services LLC (“TMS” and such interest, the “TMS Interest”) to the Company, and the Company immediately contributed the TMS Interest to its 100% owned operating company subsidiary TransMontaigne Operating Company L.P. (the “TMS Contribution”). Prior to the TMS Contribution, we had no employees and all of our management and operational activities were provided by TMS. Further, TMS provided all payroll programs and maintained all employee benefits programs on behalf of our company with respect to applicable TMS employees (as well as on behalf of certain other Arclight affiliates). As a result of the TMS Contribution, we have assumed the employees and operational activities previously provided by TMS, except for our executive officers as further described below. The TMS Contribution has been recorded at carryover basis as a reorganization of entities under common control. As such, prior periods include the assets, liabilities, and results of operations of TMS for all periods presented. As a result of the TMS Contribution, the omnibus agreement in place in various forms since the inception of the Partnership, and immediately prior to the TMS Contribution between TMS and us, which, among other things, governed the provision of management and operational services provided for us by TMS, is no longer relevant and was terminated. Following the TMS Contribution, the executive officers who provide services to the Company are employed by TransMontaigne Management Company, LLC (“TMC”), a wholly owned subsidiary of ArcLight, which also provides services to certain other ArcLight affiliates. As a result, we do not directly employ any of the persons responsible for the executive management of our business. Nonetheless, TMS continues to provide certain payroll functions and maintains all employee benefits programs on behalf of TMC pursuant to a services agreement between TMC and TMS. (b) Basis of presentation and use of estimates Our accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America (“GAAP”). The accompanying consolidated financial statements include the accounts of TransMontaigne Partners LLC and its controlled subsidiaries. Investments where we do not have the ability to exercise control, but do have the ability to exercise significant influence, are accounted for using the equity method of accounting. All inter‑company accounts and transactions have been eliminated in the preparation of the accompanying consolidated financial statements. The accompanying consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly our financial position as of December 31, 2020 and 2019 and our results of operations for the years ended December 31, 2020, 2019 and 2018. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. The following estimates, in management’s opinion, are subjective in nature, require the exercise of judgment, and/or involve complex analyses: useful lives of our plant and equipment and accrued environmental obligations. Changes in these estimates and assumptions will occur as a result of the passage of time and the occurrence of future events. Actual results could differ from these estimates. (c) Accounting for terminal and pipeline operations Effective January 1, 2019, we adopted Accounting Standards Codification (“ASC”) Topic 842, Leases and the series of related Accounting Standards Updates that followed (collectively referred to as “ASC 842”). The most significant changes under the new guidance include clarification of the definition of a lease, and the requirements for lessees to recognize a right-of-use asset and a lease liability for all qualifying leases in the consolidated balance sheet. Further, under ASC 842, additional disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. We used the modified retrospective transition method applied at the effective date of the standard. By electing this optional transition method, information prior to January 1, 2019 has not been restated and continues to be reported under the accounting standards in effect for the period (“ASC 840”) (See Note 13 of Notes to consolidated financial statements). Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), applying the modified retrospective transition method, which required us to apply the new standard to (i) all new revenue contracts entered into after January 1, 2018, and (ii) revenue contracts which were not completed as of January 1, 2018. ASC 606 replaces existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which we expect to be entitled in exchange for transferring goods or services to a customer. ASC 606 also requires certain disclosures regarding qualitative and quantitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in a transition adjustment nor did it have an impact on the timing or amount of our revenue recognition (See Note 15 of Notes to consolidated financial statements). The adoption of ASC 606 did not result in changes to our accounting for trade accounts receivable (see Note 3 of Notes to consolidated financial statements), contract assets or contract liabilities. We recognize contract assets in situations where revenue recognition under ASC 606 occurs prior to billing the customer based on our rights under the contract. Contract assets are transferred to accounts receivable when the rights become unconditional. At December 31, 2020, we did not have any contract assets related to ASC 606. Contract liabilities primarily relate to consideration received from customers in advance of completing the performance obligation. A performance obligation is a promise in a contract to transfer goods or services to the customer. We recognize contract liabilities under these arrangements as revenue once all contingencies or potential performance obligations have been satisfied by the (i) performance of services or (ii) expiration of the customer’s rights under the contract. Short-term contract liabilities include customer advances and deposits (see Note 9 of Notes to consolidated financial statements). Long-term contract liabilities include deferred revenue (See Note 10 of Notes to consolidated financial statements). We generate revenue from terminaling services fees, pipeline transportation fees and management fees. Under ASC 606 and ASC 842, we recognize revenue over time or at a point in time, depending on the nature of the performance obligations contained in the respective contract with our customer. The contract transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our revenue is recognized pursuant to ASC 842. The following is an overview of our significant revenue streams, including a description of the respective performance obligations and related method of revenue recognition. Terminaling services fees. Our terminaling services agreements are structured as either throughput agreements or storage agreements. Our throughput agreements contain provisions that require our customers to make minimum payments, which are based on contractually established minimum volumes of throughput of the customer’s product at our facilities, over a stipulated period of time. Due to this minimum payment arrangement, we recognize a fixed amount of revenue from the customer over a certain period of time, even if the customer throughputs less than the minimum volume of product during that period. In addition, if a customer throughputs a volume of product exceeding the minimum volume, we would recognize additional revenue on this incremental volume. Our storage agreements require our customers to make minimum payments based on the volume of storage capacity available to the customer under the agreement, which results in a fixed amount of recognized revenue. We refer to the fixed amount of revenue recognized pursuant to our terminaling services agreements as being “firm commitments.” Our terminaling services agreements include revenue recognized in accordance with ASC 606 and ASC 842. Upon adoption of these standards, we evaluated our contracts to determine whether the contract contained a lease. Significant assumptions used in this process include the determination of whether substantive substitution rights exist based on the terms of the contract and available capacity at the terminal at the time of contract inception. Our terminaling services agreements do not allow our customers to purchase the underlying asset and vary in terms and conditions with respect to extension or termination options. If a contract is accounted for as a lease under ASC 842, we recognize the minimum payments as lease revenue and revenue recognized in excess of firm commitments as a variable payment of the lease. All other components of the contracts accounted for as a lease are treated as non-lease components (ancillary revenue) and are accounted for in accordance with ASC 606. The majority of our firm commitments under our terminaling services agreements are accounted for as lease revenue in accordance with ASC 842 (“ASC 842 revenue”). The remaining firm commitments under our terminaling services agreements not accounted for as lease revenue are accounted for in accordance with ASC 606 (“ASC 606 revenue”), where the minimum payment arrangement in each contract is considered a single performance obligation that is primarily satisfied over time through the contract term. Revenue recognized in excess of firm commitments and revenue recognized based solely on the volume of product distributed or injected are referred to as ancillary. The ancillary revenue associated with terminaling services include volumes of product throughput that exceed the contractually established minimum volumes, injection fees based on the volume of product injected with additive compounds, heating and mixing of stored products, product transfer, railcar handling, butane blending, proceeds from the sale of product gains, wharfage and vapor recovery. The revenue generated by these services is required to be estimated under ASC 606 for any uncertainty that is not resolved in the period of the service. We account for the majority of ancillary revenue at individual points in time when the services are delivered to the customer. The majority of our ancillary revenue is recognized in accordance with ASC 606 (See Note 15 of Notes to consolidated financial statements). Pipeline transportation fees. We earn pipeline transportation fees at our Diamondback pipeline either based on the volume of product transported or under capacity reservation agreements. Revenue associated with the capacity reservation is recognized ratably over the respective term, regardless of whether the capacity is actually utilized. We earn pipeline transportation fees at our Razorback pipeline based on an allocation of the aggregate fees charged under the capacity agreement with our customer who has contracted for 100% of our Razorback system. Pipeline transportation revenue is primarily accounted for in accordance with ASC 842. Management fees. We manage and operate certain tank capacity at our Port Everglades South terminal for a major oil company and receive a reimbursement of its proportionate share of operating and maintenance costs. We manage and operate the Frontera joint venture and receive a management fee based on our costs incurred. We lease land under operating leases as the lessor or sublessor with third parties and affiliates. We also managed and operated for an affiliate of PEMEX, Mexico’s state-owned petroleum company, a products pipeline connected to our Brownsville terminal facility and received a management fee through August 23, 2018. We manage and operate rail sites at certain Southeast terminals on behalf of a major oil company and receive reimbursement for operating and maintenance costs. We manage and operate terminals that are owned by affiliates of ArcLight, including for SeaPort Midstream Partners, LLC in Seattle, Washington and Portland, Oregon and another terminal for SeaPort Sound Terminal, LLC (“SeaPort Sound”) in Tacoma, Washington and receive a management fee based on our costs incurred. We also manage additional terminal facilities that are owned by affiliates of ArcLight, including Lucknow-Highspire Terminals, LLC, which operates terminals throughout Pennsylvania encompassing approximately 9.9 million barrels of storage capacity, and prior to July 1, 2019, a terminal in Baltimore, Maryland for Pike Baltimore Terminals, LLC (the “Baltimore Terminal”), and receive a management fee based on our costs incurred. Our management of the Baltimore Terminal ended on July 1, 2019. Management fee revenue is recognized at individual points in time as the services are performed or as the costs are incurred and is primarily accounted for in accordance with ASC 606. Management fees related to lease revenue are accounted for in accordance with ASC 842. (d) Cash and cash equivalents We consider all short‑term investments with a remaining maturity of three months or less at the date of purchase to be cash equivalents. (e) Property, plant and equipment Depreciation is computed using the straight‑line method. Estimated useful lives are 15 to 25 years for terminals and pipelines and 3 to 25 years for furniture, fixtures and equipment. All items of property, plant and equipment are carried at cost. Expenditures that increase capacity or extend useful lives are capitalized. Repairs and maintenance are expensed as incurred. We evaluate long‑lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset group may not be recoverable based on expected undiscounted future cash flows attributable to that asset group. If an asset group is impaired, the impairment loss to be recognized is the excess of the carrying amount of the asset group over its estimated fair value. We did not recognize any impairment charges during the years ended December 31, 2020, 2019 and 2018, respectively. (f) Investments in unconsolidated affiliates We account for our investments in unconsolidated affiliates, which we do not control but do have the ability to exercise significant influence over, using the equity method of accounting. Under this method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions received and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the book value of the net assets of the investment entity. We evaluate our investments in unconsolidated affiliates for impairment whenever events or circumstances indicate there is a loss in value of the investment that is other than temporary. In the event of impairment, we would record a charge to earnings to adjust the carrying amount to estimated fair value. We did not recognize any impairment charges during the years ended December 31, 2020, 2019 and 2018, respectively. (g) Environmental obligations We accrue for environmental costs that relate to existing conditions caused by past operations when probable and reasonably estimable (see Note 9 of Notes to consolidated financial statements). Environmental costs include initial site surveys and environmental studies of potentially contaminated sites, costs for remediation and restoration of sites determined to be contaminated and ongoing monitoring costs, as well as fines, damages and other costs, including direct legal costs. Liabilities for environmental costs at a specific site are initially recorded, on an undiscounted basis, when it is probable that we will be liable for such costs, and a reasonable estimate of the associated costs can be made based on available information. Such an estimate includes our share of the liability for each specific site and the sharing of the amounts related to each site that will not be paid by other potentially responsible parties, based on enacted laws and adopted regulations and policies. Adjustments to initial estimates are recorded, from time to time, to reflect changing circumstances and estimates based upon additional information developed in subsequent periods. Estimates of our ultimate liabilities associated with environmental costs are difficult to make with certainty due to the number of variables involved, including the early stage of investigation at certain sites, the lengthy time frames required to complete remediation, technology changes, alternatives available and the evolving nature of environmental laws and regulations. We periodically file claims for insurance recoveries of certain environmental remediation costs with our insurance carriers under our comprehensive liability policies (see Note 4 of Notes to consolidated financial statements). In connection with our acquisition of the Florida (other than Pensacola), Midwest, Brownsville, Texas, River, Southeast, and Pensacola, Florida terminal and facilities, a third party agreed to indemnify us against certain potential environmental claims, losses and expenses. Based on our current knowledge, we expect that the active remediation projects subject to the benefit of this indemnification obligation are winding down and will not involve material additional claims, losses, and expenses. Nonetheless, the forgoing environmental indemnification obligations of a third party to us remain in place and were not affected by the Take-Private Transaction. (h) Asset retirement obligations Asset retirement obligations are legal obligations associated with the retirement of long‑lived assets that result from the acquisition, construction, development or normal use of the asset. GAAP requires that the fair value of a liability related to the retirement of long‑lived assets be recorded at the time a legal obligation is incurred. Once an asset retirement obligation is identified and a liability is recorded, a corresponding asset is recorded, which is depreciated over the remaining useful life of the asset. After the initial measurement, the liability is adjusted to reflect changes in the asset retirement obligation. If and when it is determined that a legal obligation has been incurred, the fair value of any liability is determined based on estimates and assumptions related to retirement costs, future inflation rates and interest rates. Our long‑lived assets consist of above‑ground storage facilities and underground pipelines. We are unable to predict if and when these long‑lived assets will become completely obsolete and require dismantlement. We have not recorded an asset retirement obligation, or corresponding asset, because the future dismantlement and removal dates of our long‑lived assets is indeterminable and the amount of any associated costs are believed to be insignificant. Changes in our assumptions and estimates may occur as a result of the passage of time and the occurrence of future events. (i) Deferred compensation expense We have a savings and retention plan to compensate certain employees who provide services to the Company. Prior to the Take-Private Transaction, we had the ability to settle the awards in our common units, and accordingly, we accounted for the awards as an equity award. Following the Take-Private Transaction, we index the awards to other forms of investments, and have the intent and ability to settle the awards in cash, and accordingly, we account for the awards as liability awards (see Note 12 of Notes to consolidated financial statements). (j) Accounting for derivative instruments Generally accepted accounting principles require us to recognize all derivative instruments at fair value in the consolidated balance sheets as assets or liabilities. Changes in the fair value of our derivative instruments are recognized in the consolidated statement of operations. At December 31, 2020 and 2019, our derivative instruments were limited to interest rate swap agreements with an aggregate notional amount of $nil and $300 million, respectively. The interest rate swap agreements expired in June 2020. Pursuant to the terms of the interest rate swap agreements, we paid a blended fixed rate of approximately 2.04% and received interest payments based on the one-month LIBOR. The net difference to be paid or received under the interest rate swap agreements was settled monthly and was recognized as an adjustment to interest expense. The fair value of our interest rate swap agreements was determined using a pricing model based on the LIBOR swap rate and other observable market data. (k) Income taxes No provision for U.S. federal income taxes has been reflected in the accompanying consolidated financial statements because we are treated as a partnership for federal income tax purposes. As a partnership, all income, gains, losses, expenses, deductions and tax credits generated by us flow up to our owners. (l) Comprehensive income Entities that report items of other comprehensive income have the option to present the components of net earnings and comprehensive income in either one continuous financial statement, or two consecutive financial statements. As we have no components of comprehensive income other than net earnings, no statement of comprehensive income has been presented. (m) Recent accounting pronouncements In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform — Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by this reference rate reform, if certain criteria are met. An entity that makes this election would not have to re-measure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently reviewing the effect of this ASU on our financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief , which provides transition relief and allows entities to elect the fair value option on certain financial instruments. ASU 2019-05 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. We adopted the new guidance as of January 1, 2020 using the modified retrospective approach related to our accounts receivable and contract assets, resulting in no cumulative adjustment to equity. The adoption of this guidance did not have an impact on our financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other: Simplifying the Test for Goodwill Impairment, to simplify the accounting for goodwill impairment by eliminating step 2 from the goodwill impairment test. ASU 2017-04 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. We adopted the new guidance as of January 1, 2020. The adoption of this guidance did not have an impact on our financial position, results of operations and cash flows.

TRANSACTIONS WITH AFFILIATES

TRANSACTIONS WITH AFFILIATES	12 Months Ended
	Dec. 31, 2020
TRANSACTIONS WITH AFFILIATES
TRANSACTIONS WITH AFFILIATES	(2) TRANSACTIONS WITH AFFILIATES Operations and reimbursement agreement—Frontera. We have a 50% ownership interest in the Frontera Brownsville LLC joint venture (Frontera). We operate Frontera, in accordance with an operations and reimbursement agreement executed between us and Frontera, for a management fee that is based on our costs incurred. Our agreement with Frontera stipulates that we may resign as the operator at any time with the prior written consent of Frontera, or that we may be removed as the operator for good cause, which includes material noncompliance with laws and material failure to adhere to good industry practice regarding health, safety or environmental matters. For the years ended December 31, 2020, 2019 and 2018 we recognized approximately $5.3 million, $5.8 million and $5.8 million, respectively, of revenue related to this operations and reimbursement agreement. Terminaling services agreements—Brownsville terminals. We have two terminaling services agreements with Frontera relating to our Brownsville, Texas facility that will expire in June 2021 and June 2023, subject to automatic renewals unless terminated by either party upon 90 days’ to 180 days’ prior notice. In exchange for its minimum throughput commitments, we have agreed to provide Frontera with approximately 301,000 barrels of storage capacity. For the years ended December 31, 2020, 2019 and 2018 we recognized revenue related to this agreement of approximately $2.6 million, $2.6 million and $2.5 million, respectively. Terminaling services agreement—Gulf Coast terminals. We have a terminaling services agreement with Associated Asphalt Marketing, LLC, a wholly-owned indirect subsidiary of ArcLight relating to our Gulf Coast terminals. The agreement will expire in April 2026, subject to a five-year automatic renewal unless terminated by either party upon 180 days’ prior notice, after which the agreement is subject to two-year automatic renewals unless terminated by either party upon 180 days’ prior notice. In exchange for its minimum throughput commitment, we have agreed to provide Associated Asphalt Marketing, LLC with approximately 750,000 barrels of storage capacity. For the years ended December 31, 2020, 2019 and 2018 we recognized revenue related to this agreement with Associated Asphalt Marketing, LLC of approximately $8.6 million, $8.5 million and $8.5 million, respectively. Operating and administrative agreement—SeaPort Midstream Partners, LLC —Central services. We operate two products terminals in Seattle, Washington and Portland, Oregon, on behalf of SeaPort Midstream Partners, LLC , in accordance with an operating and administrative agreement executed between us and SeaPort Midstream Partners, LLC . SeaPort Midstream Partners, LLC is a joint venture between SeaPort Midstream Holdings LLC, an ArcLight subsidiary, and BP West Coast Products LLC. SeaPort Midstream Holdings LLC owns 51% of SeaPort Midstream Partners, LLC. The operating and administrative agreement will expire in November 2023, subject to two-year automatic renewals unless terminated by either party upon no less than twelve months’ notice prior to the end of the initial term or any successive term. Our agreement with SeaPort Midstream Partners, LLC stipulates that we may resign as the operator at any time with the prior written consent of SeaPort Midstream Partners, LLC , or that we may be removed as the operator for good cause, which includes material noncompliance with laws and material failure to adhere to good industry practice regarding health, safety or environmental matters. For the years ended December 31, 2020, 2019 and 2018 we recognized revenue related to this operations and administrative agreement of approximately $3.3 million, $3.4 million and $3.4 million, respectively. Services agreement—SeaPort Sound Terminal, LLC (“SeaPort Sound”)—Central services . Our subsidiary, TMS, operates a products terminal in Tacoma, Washington on behalf of SeaPort Midstream Holdings LLC, an ArcLight subsidiary . For the years ended December 31, 2020, 2019 and 2018 we recognized revenue related to this services agreement of approximately $7.7 million, $7.2 million and $0.7 million, respectively. Other affiliates—Central services . We manage additional terminal facilities that are owned by affiliates of ArcLight, including Lucknow-Highspire Terminals, LLC, and, prior to July 1, 2019, the Baltimore Terminal. For the years ended December 31, 2020, 2019 and 2018 we recognized revenue related to reimbursements from these affiliates of approximately $1.3 million, $1.2 million and $0.1 million, respectively. Our management of the Baltimore Terminal terminated on July 1, 2019. Services agreement — TMC. Following the TMS Contribution, our executive officers who provide services to the Company are employed by TMC, a wholly owned subsidiary of ArcLight, which also provides services to certain other ArcLight affiliates. Pursuant to a services agreement between TMS and TMC, TMS continues to provide certain payroll functions and maintains all employee benefits programs on behalf of TMC. TMC is reimbursed for the payroll and benefits expenses related to the executive officers, plus a 1% administration fee. For the years ended December 31, 2020, 2019 and 2018 a ggregate fees paid by us to TMC with respect to the services agreement was approximately $2. 7 million, $0. 8 million and $nil, respectively. See also Note 1(a) of Notes to consolidated financial statements, Nature of business, for information regarding the TMS Contribution.

CONCENTRATION OF CREDIT RISK AN

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2020
CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE
CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE	(3) CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE Our primary market areas are located in the United States along the Gulf Coast, in the Southeast, in Brownsville, Texas, along the Mississippi and Ohio Rivers, in the Midwest and along the West Coast. We have a concentration of trade receivable balances due from companies engaged in the trading, distribution and marketing of refined products, renewable products and crude oil. These concentrations of customers may affect our overall credit risk in that the customers may be similarly affected by changes in economic, regulatory or other factors. Our customers’ historical financial and operating information is analyzed prior to extending credit. We manage our exposure to credit risk through credit analysis, credit approvals, credit limits and monitoring procedures, and for certain transactions we may request letters of credit, prepayments or guarantees. At December 31, 2020 and 2019, amounts included in trade accounts receivable that are accounted for as ASC 606 revenue are approximately $2.4 million and $4.7 million, respectively. We maintain allowances for potentially uncollectible accounts receivable. Trade accounts receivable, net consists of the following (in thousands): December 31, December 31, 2020 2019 Trade accounts receivable $ 9,203 $ 16,627 Less allowance for credit losses — (127) $ 9,203 $ 16,500 The following table presents a roll forward of our allowance for credit losses (in thousands): Balance at Balance at beginning Charged to end of of period expenses Deductions period 2020 $ 127 $ — $ (127) $ — 2019 $ 109 $ 18 $ — $ 127 2018 $ 111 $ — $ (2) $ 109 The following customers accounted for at least 10% of our consolidated revenue in at least one of the periods presented in the accompanying consolidated statements of operations: Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Pilot Flying J 17 % — % — % Freepoint Commodities LLC 10 % 6 % — % RaceTrac Petroleum Inc. 9 % 10 % 11 % Castleton Commodities International LLC 6 % 9 % 10 % NGL Energy Partners LP 1 % 16 % 22 %

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2020
OTHER CURRENT ASSETS
OTHER CURRENT ASSETS	(4) OTHER CURRENT ASSETS Other current assets are as follows (in thousands): December 31, December 31, 2020 2019 Prepaid insurance $ 2,123 $ 2,595 Additive detergent 1,585 1,342 Amounts due from insurance companies 668 1,147 Deposits and other assets 1,247 1,262 $ 5,623 $ 6,346 Amounts due from insurance companies. We periodically file claims for recovery of environmental remediation costs with our insurance carriers under our comprehensive liability policies. We recognize our insurance recoveries in the period that we assess the likelihood of recovery as being probable (i.e., likely to occur). At December 31, 2020 and 2019, we have recognized amounts due from insurance companies of approximately $0.7 million and $1.1 million, respectively, representing our best estimate of our probable insurance recoveries. During the year ended December 31, 2020, we received reimbursements from insurance companies of approximately $0.5 million.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT, NET
PROPERTY, PLANT AND EQUIPMENT, NET	(5) PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is as follows (in thousands): December 31, December 31, 2020 2019 Land $ 83,657 $ 83,451 Terminals, pipelines and equipment 1,108,410 995,666 Furniture, fixtures and equipment 11,104 9,788 Construction in progress 22,824 73,302 1,225,995 1,162,207 Less accumulated depreciation (488,494) (434,987) $ 737,501 $ 727,220 At December 31, 2020 and 2019, property, plant and equipment, net utilized by our customers in operating lease arrangements consisted of $582.6 million and $523.9 million, respectively, of terminals, pipelines and equipment. The terminals, pipelines and equipment primarily relates to our storage tanks and associated internal piping.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2020
GOODWILL
GOODWILL	(6) GOODWILL Goodwill is as follows (in thousands): December 31, December 31, 2020 2019 Brownsville terminals $ 8,485 $ 8,485 West Coast terminals 943 943 $ 9,428 $ 9,428 Goodwill is required to be tested for impairment annually unless events or changes in circumstances indicate it is more likely than not that an impairment loss has been incurred at an interim date. Our annual test for the impairment of goodwill is performed as of December 31. The impairment test is performed at the reporting unit level. Our reporting units are our operating segments (see Note 16 of Notes to consolidated financial statements). The fair value of each reporting unit is determined on a stand‑alone basis from the perspective of a market participant and represents an estimate of the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to be impaired. At December 31, 2020 and 2019 our Brownsville and West Coast terminals contained goodwill. Our estimate of the fair value of our Brownsville and West Coast terminals at December 31, 2020 and 2019 substantially exceeded the carrying amount. Accordingly, we did not recognize any goodwill impairment charges during the years ended December 31, 2020, 2019 and 2018, respectively. However, an increase in the assumed market participants’ weighted average cost of capital, the loss of a significant customer, the disposition of significant assets, or an unforeseen increase in the costs to operate and maintain the Brownsville and West Coast terminals, could result in the recognition of an impairment charge in the future.

INVESTMENTS IN UNCONSOLIDATED A

INVESTMENTS IN UNCONSOLIDATED AFFILIATES	12 Months Ended
	Dec. 31, 2020
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	(7) INVESTMENTS IN UNCONSOLIDATED AFFILIATES At December 31, 2020 and 2019, our investments in unconsolidated affiliates include a 42.5% Class A ownership interest in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”) and a 50% ownership interest in Frontera Brownsville LLC (“Frontera”). BOSTCO is a terminal facility located on the Houston Ship Channel that encompasses approximately 7.1 million barrels of distillate, residual and other black oil product storage. Class A and Class B ownership interests share in cash distributions on a 96.5% and 3.5% basis, respectively. Class B ownership interests do not have voting rights and are not required to make capital investments. Frontera is a terminal facility located in Brownsville, Texas that encompasses approximately 1.7 million barrels of light petroleum product storage, as well as related ancillary facilities. The following table summarizes our investments in unconsolidated affiliates: Percentage of Carrying value ownership (in thousands) December 31, December 31, December 31, December 31, 2020 2019 2020 2019 BOSTCO 43 % 43 % $ 201,912 $ 201,743 Frontera 50 % 50 % 24,036 23,682 Total investments in unconsolidated affiliates $ 225,948 $ 225,425 At December 31, 2020 and 2019, our investment in BOSTCO includes approximately $6.4 million and $6.6 million, respectively, of excess investment related to a one time buy-in fee to acquire our 42.5% interest and capitalization of interest on our investment during the construction of BOSTCO amortized over the useful life of the assets. Excess investment is the amount by which our investment exceeds our proportionate share of the book value of the net assets of the BOSTCO entity. Earnings from investments in unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 3,933 $ 2,356 $ 5,767 Frontera 2,565 2,538 3,085 Total earnings from investments in unconsolidated affiliates $ 6,498 $ 4,894 $ 8,852 Additional capital investments in unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 7,257 $ 4,707 $ — Frontera — 225 1,413 Additional capital investments in unconsolidated affiliates $ 7,257 $ 4,932 $ 1,413 Cash distributions received from unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 11,021 $ 8,325 $ 12,135 Frontera 2,211 3,107 4,280 Cash distributions received from unconsolidated affiliates $ 13,232 $ 11,432 $ 16,415 The summarized financial information of our unconsolidated affiliates was as follows (in thousands): Balance sheets: BOSTCO Frontera December 31, December 31, December 31, December 31, 2020 2019 2020 2019 Current assets $ 15,822 $ 12,478 $ 5,352 $ 4,870 Long-term assets 464,971 464,085 43,939 44,344 Current liabilities (17,543) (13,607) (1,219) (1,850) Long-term liabilities (5,476) (6,036) — — Net assets $ 457,774 $ 456,920 $ 48,072 $ 47,364 Statements of income : BOSTCO Frontera Year ended Year ended December 31, December 31, 2020 2019 2018 2020 2019 2018 Revenue $ 64,575 $ 60,751 $ 66,288 $ 19,520 $ 20,076 $ 24,017 Expenses (53,916) (54,033) (51,993) (14,390) (15,000) (17,847) Net income $ 10,659 $ 6,718 $ 14,295 $ 5,130 $ 5,076 $ 6,170

OTHER ASSETS, NET

OTHER ASSETS, NET	12 Months Ended
	Dec. 31, 2020
OTHER ASSETS, NET
OTHER ASSETS, NET	(8) OTHER ASSETS, NET Other assets, net are as follows (in thousands): December 31, December 31, 2020 2019 Customer relationships, net of accumulated amortization of $9,587 and $7,237, respectively $ 39,843 $ 42,193 Revolving credit facility unamortized deferred debt issuance costs, net of accumulated amortization of $11,054 and $9,353, respectively 2,117 3,818 Amounts due under long-term terminaling services agreements 1,347 215 Deposits and other assets 735 1,171 $ 44,042 $ 47,397 Customer relationships. Other assets, net include certain customer relationships at our West Coast terminals. These customer relationships are being amortized on a straight‑line basis over approximately twenty years. Amortizable intangible assets are only evaluated for impairment upon a significant change in the operating environment. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows. We have not taken an impairment on customer relationships in the years presented. Expected future amortization expense for the customer relationships as of December 31, 2020 is as follows (in thousands): Years ending December 31, 2021 2022 2023 2024 2025 Thereafter Amortization expense $ 2,350 $ 2,350 $ 2,350 $ 2,350 $ 2,350 $ 28,093 Deferred debt issuance costs. Deferred debt issuance costs are amortized using the effective interest method over the term of the related credit facility. Amounts due under long‑term terminaling services agreements. We have long‑term terminaling services agreements with certain of our customers that provide for minimum payments that increase at stated amounts over the terms of the respective agreements. We recognize as revenue the minimum payments under the long‑term terminaling services agreements on a straight‑line basis over the terms of the respective agreements. At December 31, 2020 and 2019, we have recognized revenue in excess of the minimum payments that are due through those respective dates under the long‑term terminaling services agreements, accounted for in accordance with ASC 842, resulting in an asset of approximately $1.3 million and $0.2 million, respectively.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2020
ACCRUED LIABILITIES
ACCRUED LIABILITIES	(9) ACCRUED LIABILITIES Accrued liabilities are as follows (in thousands): December 31, December 31, 2020 2019 Accrued compensation expense $ 12,283 $ 13,272 Customer advances and deposits 10,689 7,850 Interest payable 7,619 7,763 Accrued property taxes 3,018 3,149 Accrued environmental obligations 983 1,531 Unrealized loss on derivative instrument — 480 Accrued expenses and other 140 2,513 $ 34,732 $ 36,558 Accrued compensation expense. Accrued compensation expense includes our bonus, payroll, and savings and retention plan awards accruals. Customer advances and deposits. We bill certain of our customers one month in advance for terminaling services to be provided in the following month. At December 31, 2020 and 2019, approximately $9.6 million and $7.0 million, respectively, of the customer advances and deposits balance is related to terminaling services agreements accounted for as operating leases under ASC 842. At December 31, 2020 and 2019, approximately $1.1 million and $0.9 million, respectively, of the customer advances and deposits balance is considered contract liabilities under ASC 606. Revenue recognized during the years ended December 31, 2020 and 2019 from amounts included in contract liabilities at the beginning of the period was approximately $0.9 million and $0.8 million, respectively. At December 31, 2020 and 2019, we have billed and collected from certain of our customers approximately $10.7 million and $7.9 million, respectively, in advance of the terminaling services being provided. Accrued environmental obligations. At December 31, 2020 and 2019, we have accrued environmental obligations of approximately $1.0 million and $1.5 million, respectively, representing our best estimate of our remediation obligations. Changes in our estimates of our future environmental remediation obligations may occur as a result of the passage of time and the occurrence of future events. The following table presents a roll forward of our accrued environmental obligations (in thousands): Balance at Increase Balance at beginning (decrease) end of of period Payments in estimate period 2020 $ 1,531 $ (475) $ (73) $ 983 2019 $ 1,556 $ (671) $ 646 $ 1,531 2018 $ 1,855 $ (457) $ 158 $ 1,556

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2020
OTHER LIABILITIES
OTHER LIABILITIES	(10) OTHER LIABILITIES Other liabilities are as follows (in thousands): December 31, December 31, 2020 2019 Advance payments received under long-term terminaling services agreements $ 2,569 $ 3,782 Deferred revenue 2,251 1,208 $ 4,820 $ 4,990 Advance payments received under long‑term terminaling services agreements. We have long‑term terminaling services agreements with certain of our customers that provide for advance minimum payments. We recognize the advance minimum payments as revenue under ASC 842 on a straight‑line basis over the term of the respective agreements. At December 31, 2020 and 2019, we have received advance minimum payments in excess of revenue recognized under these long‑term terminaling services agreements resulting in a liability of approximately $2.6 million and $3.8 million, respectively. Deferred revenue. Pursuant to historical agreements with our customers, we agreed to undertake certain capital projects. Upon completion of the projects, our customers have paid us lump‑sum amounts that will be recognized as revenue on a straight‑line basis over the remaining term of the agreements. At December 31, 2020 and 2019, we have unamortized deferred revenue for completed projects of approximately $2.3 million and $1.2 million, respectively. During the years ended December 31, 2020, 2019 and 2018, we billed our customers approximately $2.2 million, $0.1 million and $1.7 million, respectively, for completed projects. During the years ended December 31, 2020, 2019 and 2018, we recognized revenue on a straight‑line basis of approximately $1.1 million, $0.8 million and $1.8 million, respectively, for completed projects. At both December 31, 2020 and 2019, approximately $nil of the deferred revenue balance is considered contract liabilities under ASC 606. At December 31, 2020 and 2019, approximately $2.3 million and $1.2 million, respectively, of deferred revenue is related to terminaling services agreements accounted for as operating leases under ASC 842. Revenue recognized during the years ended December 31, 2020 and 2019 from amounts included in contract liabilities under ASC 606 at the beginning of the period was approximately $nil and $0.2 million, respectively.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2020
LONG-TERM DEBT
LONG-TERM DEBT	(11) LONG‑TERM DEBT Long-term debt is as follows (in thousands): December 31, December 31, 2020 2019 Revolving credit facility due in 2022 $ 350,400 $ 350,700 6.125% senior notes due in 2026 299,900 300,000 Senior notes unamortized deferred debt issuance costs, net of accumulated amortization of $2,441 and $1,544, respectively (5,641) (6,538) $ 644,659 $ 644,162 On February 12, 2018, the Company and TLP Finance Corp., our wholly owned subsidiary, issued at par $300 million of 6.125% senior notes. Net proceeds, after $8.1 million of issuance costs, were used to repay indebtedness under our revolving credit facility. The senior notes are due in 2026 and are guaranteed on a senior unsecured basis by each of our 100% owned domestic subsidiaries that guarantee obligations under our revolving credit facility. These subsidiary guarantees are full and unconditional and joint and several, and the subsidiaries that did not guarantee our senior notes are minor. TransMontaigne Partners LLC has no independent assets or operations unrelated to its investments in its consolidated subsidiaries . TLP Finance Corp. has no assets or operations. Our operations are conducted by subsidiaries of TransMontaigne Partners LLC, including primarily through our 100% owned operating company subsidiary, TransMontaigne Operating Company L.P. None of the assets of TransMontaigne Partners LLC or a guarantor represent restricted net assets pursuant to the guidelines established by the SEC. Our revolving credit facility provides for a maximum borrowing line of credit equal to $850 million. The terms of our revolving credit facility include covenants that restrict our ability to make cash distributions, acquisitions and investments, including investments in joint ventures. We may make distributions of cash to the extent of our “available cash” as defined in our LLC agreement. We may make acquisitions and investments that meet the definition of “permitted acquisitions”; “other investments” which may not exceed 5% of “consolidated net tangible assets”; and additional future “permitted JV investments” up to $175 million, which may include additional investments in BOSTCO. The primary financial covenants contained in our revolving credit facility are (i) a total leverage ratio test (not to exceed 5.25 to 1.0), (ii) a senior secured leverage ratio test (not to exceed 3.75 to 1.0), and (iii) a minimum interest coverage ratio test (not less than 2.75 to 1.0). The principal balance of loans and any accrued and unpaid interest are due and payable in full on the maturity date, March 13, 2022. We were in compliance with all financial covenants as of and during the years ended December 31, 2020 and 2019. We may elect to have loans under our revolving credit facility bear interest either (i) at a rate of LIBOR plus a margin ranging from 1.75% to 2.75% depending on the total leverage ratio then in effect, or (ii) at the base rate plus a margin ranging from 0.75% to 1.75% depending on the total leverage ratio then in effect. We also pay a commitment fee on the unused amount of commitments, ranging from 0.375% to 0.5% per annum, depending on the total leverage ratio then in effect. Our obligations under our revolving credit facility are secured by a first priority security interest in favor of the lenders in the majority of our assets, including our investments in unconsolidated affiliates. For the years ended December 31, 2020, 2019 and 2018, the weighted average interest rate on borrowings under our revolving credit facility was approximately 4.3%, 5.7% and 5.2%, respectively. At December 31, 2020 and 2019, our outstanding borrowings under our revolving credit facility were $350.4 million and $350.7 million, respectively. At both December 31, 2020 and 2019 our outstanding letters of credit were $1.3 million.

DEFERRED COMPENSATION EXPENSE

DEFERRED COMPENSATION EXPENSE	12 Months Ended
	Dec. 31, 2020
DEFERRED COMPENSATION EXPENSE.
DEFERRED COMPENSATION EXPENSE	(12) DEFERRED COMPENSATION EXPENSE We have a savings and retention plan to compensate certain employees who provide services to the Company. The purpose of the savings and retention plan is to provide for the reward and retention of participants by providing them with awards that vest over future service periods. Awards under the plan with respect to individuals providing services to the Company generally become vested as to 50% of a participant’s annual award as of the first day of the month that falls closest to the second anniversary of the grant date, and the remaining 50% as of the first day of the month that falls closest to the third anniversary of the grant date, subject to earlier vesting upon a participant’s attainment of the age and length of service thresholds, retirement, death or disability, involuntary termination without cause, or termination of a participant’s employment following a change in control of the Company as specified in the plan. The awards are increased for the value of any accrued growth based on underlying investments deemed made with respect to the awards. The awards (including any accrued growth relating thereto) are subject to forfeiture until the vesting date. The Take-Private Transaction did not accelerate the vesting of any of the awards. A person will satisfy the age and length of service thresholds of the plan upon the attainment of the earliest of (a) age sixty, (b) age fifty-five and ten years of service as an officer of the Company or any of its affiliates or predecessors, or (c) age fifty and twenty years of service as an employee of the Company or any of its affiliates or predecessors. Prior to the Take-Private Transaction, we had the ability to settle the awards in our common units, and accordingly, we accounted for the awards as an equity award. Following the Take-Private Transaction, we index the awards to other forms of investments, and have the intent and ability to settle the awards in cash. Accordingly, we account for the awards as accrued liabilities. For the years ended December 31, 2020, 2019 and 2018 we recognized expense of approximately $1.8 million, $2.3 million and $3.5 million, respectively, for awards to employees.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	(13) COMMITMENTS AND CONTINGENCIES Effective January 1, 2019, we adopted Accounting Standards Codification (“ASC”) Topic 842, Leases and the series of related Accounting Standards Updates that followed (collectively referred to as “ASC 842”), using the modified retrospective transition method applied at the effective date of the standard. By electing this optional transition method, information prior to January 1, 2019 has not been restated and continues to be reported under the accounting standards in effect for that period (ASC 840). The Company elected the following practical expedients permitted under the transition guidance within the new standard; 1) the option to carry forward the historical lease classifications and assessment of initial direct costs, 2) the option to not include leases with an initial term of less than twelve months in the lease assets and liabilities and 3) the option to account for lease and non-lease components as a single lease component. We lease property including corporate offices, vehicles and land. We determine if an arrangement is a lease at inception and evaluate identified leases for operating or finance lease treatment at lease commencement. Operating or finance lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Our leases have remaining lease terms of less than one year to 40 years, some of which have options to extend or terminate the lease. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. The impact of ASC 842 on our consolidated balance sheet beginning January 1, 2019 was the recognition of right-of-use assets and lease liabilities for operating leases. Unamortized lease incentives were reclassified into right-of-use assets on January 1, 2019. No impact was recorded to the consolidated statement of operations or beginning equity for ASC 842. The $37.9 million right-of-use asset and the $39.5 million operating liability at January 1, 2019 represents the right-of-use assets and lease labilities at the time of ASC 842 adoption. Additions to right-of-use assets and liabilities represent the present value of future lease payments at the inception of the new leases. Both the January 1, 2019 right-of-use assets and liabilities and additions are non-cash transactions that did not impact the consolidated statement of cash flows. Beginning January 1, 2019, operating right-of-use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Operating leases in effect prior to January 1, 2019 were recognized at the present value of the remaining payments on the remaining lease term as of January 1, 2019. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We determined our incremental borrowing rate using the borrowing rate of our revolving credit facility. The terms of our vehicle, office and land leases are in line with our revolving credit facility, our primary finance mechanism. We have certain land and vehicle lease agreements with lease and non-lease components, which are accounted for separately. Non-lease components include payments for taxes and other operating and maintenance expenses incurred by the lessor but payable by us in connection with the leasing arrangement. As of December 31, 2020, the Company was party to certain subleasing arrangements whereby the Company, as the primary obligor on the lease, has recognized sublease income for lease payments made by affiliates to the lessor. Following are components of our lease costs (in thousands): Year ended Year ended December 31, December 31, 2020 2019 Operating leases $ 4,723 $ 4,548 Variable lease costs (including insignificant short-term leases) 849 892 Sublease income as primary obligor (1,000) (992) Total lease costs $ 4,572 $ 4,448 Other information related to our operating leases was as follows (in thousands, except lease term and discount rate): Year ended Year ended December 31, December 31, 2020 2019 Cash outflows for operating leases $ 4,742 $ 4,371 Weighted average remaining lease term (years) 18.35 18.79 Weighted average discount rate Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of December 31, 2020 and related imputed interest was as follows (in thousands): Years ending December 31: 2021 $ 4,758 2022 4,749 2023 4,151 2024 3,699 2025 3,286 Thereafter 36,545 Total lease payments 57,188 Less imputed interest (21,486) Present value of operating lease liabilities $ 35,702 Contract commitments. At December 31, 2020, we have contractual commitments of approximately $26.0 million for the supply of services, labor and materials related to capital projects that currently are under development. We expect that these contractual commitments will primarily be paid within a year. Legal proceedings. We are party to various legal, regulatory and other matters arising from the day-to-day operations of our business that may result in claims against us. While the ultimate impact of any proceedings cannot be predicted with certainty, our management believes that the resolution of any of our pending legal proceedings will not have a material adverse effect on our business, financial position, results of operations or cash flows.

DISCLOSURES ABOUT FAIR VALUE

DISCLOSURES ABOUT FAIR VALUE	12 Months Ended
	Dec. 31, 2020
DISCLOSURES ABOUT FAIR VALUE
DISCLOSURES ABOUT FAIR VALUE	(14) DISCLOSURES ABOUT FAIR VALUE GAAP defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. GAAP also establishes a fair value hierarchy that prioritizes the use of higher‑level inputs for valuation techniques used to measure fair value. The three levels of the fair value hierarchy are: (1) Level 1 inputs, which are quoted prices (unadjusted) in active markets for identical assets or liabilities; (2) Level 2 inputs, which are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and (3) Level 3 inputs, which are unobservable inputs for the asset or liability. The fair values of the following financial instruments represent our best estimate of the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date. Our fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects our judgments about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. The following methods and assumptions were used to estimate the fair value of financial instruments at December 31, 2020 and 2019. There were no transfers between the three levels of the fair value hierarchy during the year ended December 31, 2020. Cash equivalents. The carrying amount approximates fair value because of the short‑term maturity of these instruments. The fair value is categorized in Level 1 of the fair value hierarchy. Derivative instruments. The carrying amount of our interest rate swaps was determined using a pricing model based on the LIBOR swap rate and other observable market data. The fair value is categorized in Level 2 of the fair value hierarchy. Debt. The carrying amount of our revolving credit facility debt approximates fair value since borrowings under the facility bear interest at current market interest rates. The estimated fair value of our $299.9 million publicly traded senior notes at December 31, 2020 was approximately $302.9 million based on observable market trades. The fair value of our debt is categorized in Level 2 of the fair value hierarchy.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	(15) REVENUE FROM CONTRACTS WITH CUSTOMERS The majority of our terminaling services agreements contain minimum payment arrangements, resulting in a fixed amount of revenue recognized, which we refer to as “firm commitments” and are accounted for in accordance with ASC 842, Leases (“ASC 842 revenue”). The remainder is recognized in accordance with ASC 606, Revenue From Contracts With Customers (“ASC 606 revenue”). The following table provides details of our revenue disaggregated by category of revenue (in thousands): Year ended Year ended December 31, December 31, 2020 2019 Terminaling services fees: Firm commitments (ASC 842 revenue) $ 197,385 $ 178,214 Firm commitments (ASC 606 revenue) 15,018 14,226 Total firm commitments revenue 212,403 192,440 Ancillary revenue (ASC 606 revenue) 40,029 44,062 Ancillary revenue (ASC 842 revenue) 2,577 4,448 Total ancillary revenue 42,606 48,510 Total terminaling services fees 255,009 240,950 Pipeline transportation fees (ASC 842 revenue) 3,519 3,457 Management fees (ASC 606 revenue) 17,354 16,836 Management fees (ASC 842 revenue) 1,211 1,799 Total management fees 18,565 18,635 Total revenue $ 277,093 $ 263,042 The following table includes our estimated future revenue associated with our firm commitments under terminaling services fees which is expected to be recognized as ASC 606 revenue in the specified period related to our future performance obligations as of the end of the reporting period (in thousands): Estimated Future ASC 606 Revenue by Segment Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total 2021 $ 4,572 $ 119 $ — $ 1,056 $ — $ 5,837 $ — $ 11,584 2022 1,656 — — 1,016 — 1,576 — 4,248 2023 226 — — 508 — — — 734 2024 — — — — — — — — 2025 — — — — — — — — Thereafter — — — — — — — — Total estimated future ASC 606 revenue $ 6,454 $ 119 $ — $ 2,580 $ — $ 7,413 $ — $ 16,566 Our estimated future ASC 606 revenue, for purposes of the tabular presentation above, excludes estimates of future rate changes due to changes in indices or contractually negotiated rate escalations and is generally limited to contracts that have minimum payment arrangements. The balances disclosed include the full amount of our customer commitments accounted for as ASC 606 revenue as of December 31, 2020 through the expiration of the related contracts. The balances disclosed exclude all performance obligations for which the original expected term is one year or less, the term of the contract with the customer is open and cannot be estimated, the contract includes options for future purchases or the consideration is variable. Estimated future ASC 606 revenue in the table above excludes revenue arrangements accounted for in accordance with ASC 842. The following table includes our estimated future revenue associated with our firm commitments under terminaling services fees which is expected to be recognized as ASC 842 revenue in the specified period (in thousands): Years ending December 31: 2021 $ 171,258 2022 126,172 2023 102,847 2024 60,222 2025 41,388 Thereafter 481,486 Total estimated future ASC 842 revenue $ 983,373

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2020
BUSINESS SEGMENTS
BUSINESS SEGMENTS	(16) BUSINESS SEGMENTS We provide integrated terminaling, storage, transportation and related services to companies engaged in the trading, distribution and marketing of refined petroleum products, renewable products, crude oil, chemicals, fertilizers and other liquid products. Our chief operating decision maker is the Company’s chief executive officer. The Company’s chief executive officer reviews the financial performance of our business segments using disaggregated financial information about “net margins” for purposes of making operating decisions and assessing financial performance. “Net margins” is composed of revenue less operating costs and expenses. Accordingly, we present “net margins” for each of our business segments: (i) Gulf Coast terminals, (ii) Midwest terminals, (iii) Brownsville terminals including management of the Frontera joint venture, (iv) River terminals, (v) Southeast terminals, (vi) West Coast terminals and (vii) Central services. Our Central services segment primarily represents the costs of employees performing operating oversight functions, engineering, health, safety and environmental services to our terminals and terminals that we operate or manage, including for affiliate terminals owned by ArcLight. In addition, Central services represent the cost of employees at affiliate terminals owned by ArcLight that we operate. We receive a fee from these affiliates based on our costs incurred. The financial performance of our business segments is as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Gulf Coast Terminals: Terminaling services fees $ 76,875 $ 73,380 $ 64,338 Management fees 32 36 284 Revenue 76,907 73,416 64,622 Operating costs and expenses (20,946) (22,196) (22,817) Net margins 55,961 51,220 41,805 Midwest Terminals: Terminaling services fees 8,358 9,804 10,127 Pipeline transportation fees 1,909 1,851 1,772 Revenue 10,267 11,655 11,899 Operating costs and expenses (2,942) (3,443) (3,053) Net margins 7,325 8,212 8,846 Brownsville Terminals: Terminaling services fees 15,071 11,560 8,339 Pipeline transportation fees 1,610 1,606 1,523 Management fees 5,288 5,787 7,384 Revenue 21,969 18,953 17,246 Operating costs and expenses (9,749) (9,053) (7,812) Net margins 12,220 9,900 9,434 River Terminals: Terminaling services fees 11,700 10,233 10,654 Revenue 11,700 10,233 10,654 Operating costs and expenses (5,777) (6,040) (6,832) Net margins 5,923 4,193 3,822 Southeast Terminals: Terminaling services fees 88,573 87,813 82,821 Management fees 947 964 891 Revenue 89,520 88,777 83,712 Operating costs and expenses (23,498) (23,500) (26,836) Net margins 66,022 65,277 56,876 West Coast Terminals: Terminaling services fees 54,432 48,160 39,952 Management fees 38 36 8 Revenue 54,470 48,196 39,960 Operating costs and expenses (18,454) (16,339) (14,678) Net margins 36,016 31,857 25,282 Central Services: Management fees 12,260 11,812 4,204 Revenue 12,260 11,812 4,204 Operating costs and expenses (21,245) (22,451) (16,949) Net margins (8,985) (10,639) (12,745) Total net margins 174,482 160,020 133,320 General and administrative expenses (21,657) (23,660) (23,707) Insurance expenses (4,973) (4,995) (4,976) Deferred compensation expense (1,834) (2,308) (3,478) Depreciation and amortization (57,400) (52,535) (49,793) Earnings from unconsolidated affiliates 6,498 4,894 8,852 Gain from insurance proceeds — 3,351 — Loss on disposition of assets — — (901) Operating income 95,116 84,767 59,317 Other expenses (33,768) (38,853) (34,937) Net earnings $ 61,348 $ 45,914 $ 24,380 Supplemental information about our business segments is summarized below (in thousands): Year ended December 31, 2020 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 68,268 $ 10,267 $ 14,062 $ 11,700 $ 89,520 $ 54,470 $ — $ 248,287 Affiliate customers 8,639 — 7,907 — — — 12,260 28,806 Revenue $ 76,907 $ 10,267 $ 21,969 $ 11,700 $ 89,520 $ 54,470 $ 12,260 $ 277,093 Capital expenditures $ 9,491 $ 933 $ 22,116 $ 9,314 $ 22,091 $ 7,638 $ 1,154 $ 72,737 Identifiable assets $ 122,218 $ 18,193 $ 108,903 $ 50,337 $ 254,497 $ 270,539 $ 12,869 $ 837,556 Cash and cash equivalents 595 Investments in unconsolidated affiliates 225,948 Revolving credit facility unamortized deferred debt issuance costs, net 2,117 Other 2,990 Total assets $ 1,069,206 Year ended December 31, 2019 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 64,879 $ 11,655 $ 10,535 $ 10,233 $ 88,777 $ 48,196 $ — $ 234,275 Affiliate customers 8,537 — 8,418 — — — 11,812 28,767 Revenue $ 73,416 $ 11,655 $ 18,953 $ 10,233 $ 88,777 $ 48,196 $ 11,812 $ 263,042 Capital expenditures $ 7,697 $ 722 $ 27,068 $ 2,978 $ 39,947 $ 10,458 $ 2,153 $ 91,023 Identifiable assets $ 125,062 $ 19,595 $ 93,903 $ 45,263 $ 262,462 $ 278,610 $ 13,329 $ 838,224 Cash and cash equivalents 1,090 Investments in unconsolidated affiliates 225,425 Revolving credit facility unamortized deferred debt issuance costs, net 3,818 Other 3,496 Total assets $ 1,072,053 Year ended December 31, 2018 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 56,144 $ 11,899 $ 8,934 $ 10,654 $ 83,712 $ 39,960 $ — $ 211,303 Affiliate customers 8,478 — 8,312 — — — 4,204 20,994 Revenue $ 64,622 $ 11,899 $ 17,246 $ 10,654 $ 83,712 $ 39,960 $ 4,204 $ 232,297 Capital expenditures $ 5,357 $ 568 $ 15,673 $ 1,596 $ 35,070 $ 7,858 $ 209 $ 66,331

FINANCIAL RESULTS BY QUARTER (U

FINANCIAL RESULTS BY QUARTER (UNAUDITED)	12 Months Ended
	Dec. 31, 2020
FINANCIAL RESULTS BY QUARTER (UNAUDITED)
FINANCIAL RESULTS BY QUARTER (UNAUDITED)	(17) FINANCIAL RESULTS BY QUARTER (UNAUDITED) Three months ended Year ended March 31, June 30, September 30, December 31, December 31, 2020 2020 2020 2020 2020 (in thousands) Revenue $ $ 68,058 $ 69,428 $ 70,766 $ 277,093 Operating costs and expenses (26,637) (25,355) (25,241) (25,378) (102,611) General and administrative expenses (6,317) (5,250) (4,820) (5,270) (21,657) Insurance expenses (1,208) (1,280) (1,258) (1,227) (4,973) Deferred compensation expense (911) (354) (309) (260) (1,834) Depreciation and amortization (13,641) (14,242) (14,674) (14,843) (57,400) Earnings from unconsolidated affiliates 2,153 1,850 1,789 706 6,498 Operating income 22,280 23,427 24,915 24,494 95,116 Interest expense (9,214) (7,204) (7,435) (7,341) (31,194) Amortization of deferred debt issuance costs (643) (627) (650) (654) (2,574) Net earnings $ 12,423 $ 15,596 $ 16,830 $ 16,499 $ 61,348 Three months ended Year ended March 31, June 30, September 30, December 31, December 31, 2019 2019 2019 2019 2019 (in thousands) Revenue $ 61,268 $ 64,969 $ 66,573 $ 70,232 $ 263,042 Operating costs and expenses (25,325) (26,464) (24,395) (26,838) (103,022) General and administrative expenses (8,164) (5,212) (4,603) (5,681) (23,660) Insurance expenses (1,361) (1,218) (1,240) (1,176) (4,995) Deferred compensation expense (799) (294) (376) (839) (2,308) Depreciation and amortization (12,652) (13,107) (13,362) (13,414) (52,535) Earnings from unconsolidated affiliates 1,140 1,225 1,476 1,053 4,894 Gain from insurance proceeds — 3,351 — — 3,351 Operating income 14,107 23,250 24,073 23,337 84,767 Interest expense (8,842) (9,708) (9,107) (8,539) (36,196) Amortization of deferred debt issuance costs (749) (632) (636) (640) (2,657) Net earnings $ 4,516 $ 12,910 $ 14,330 $ 14,158 $ 45,914

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	(18) SUBSEQUENT EVENTS No subsequent transactions or events warranted recognition or disclosure in the accompanying financials or notes thereto.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of business	(a) Nature of business TransMontaigne Partners LLC (“we,” “us,” “our,” “the Company”) provides integrated terminaling, storage, transportation and related services for companies engaged in the trading, distribution and marketing of light refined petroleum products, heavy refined petroleum products, renewables products, crude oil, chemicals, fertilizers and other liquid products. We conduct our operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio rivers, in the Southeast and along the West Coast. We were originally formed as TransMontaigne Partners L.P. (“the Partnership”) in February 2005 as a Delaware limited partnership. Through February 26, 2019, the Partnership’s common units were listed and publicly traded on the New York Stock Exchange under the symbol “TLP”. The Partnership was controlled by a general partner, TransMontaigne GP L.L.C. (“TransMontaigne GP”), which was an indirect, controlled subsidiary of ArcLight Energy Partners Fund VI, L.P. (“ArcLight”). TransMontaigne GP also held the Partnership’s incentive distribution rights, which were non‑voting limited partner interests with the rights set forth in the First Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of May 27, 2005, as amended from time to time. On February 26, 2019, an affiliate of ArcLight completed its previously announced acquisition of all of the Partnership’s outstanding publicly traded common units not already held by ArcLight and its affiliates by way of our merger (the “Merger”) with a wholly owned subsidiary of TLP Finance Holdings, LLC (“TLP Finance”), an indirect controlled subsidiary of Arclight. At the effective time of the Merger, each of the Partnership’s general partner units issued and outstanding immediately prior to the acquisition effective time was converted into (i)(a) one Partnership common unit, and (b) in aggregate, a non-economic general partner interest in the Partnership, (ii) each of the Partnership’s incentive distribution rights issued and outstanding immediately prior to the acquisition effective time was converted into 100 Partnership common units, (iii) our general partner distributed its common units in the Partnership (the “Transferred GP Units”) to TLP Acquisition Holdings, LLC, a Delaware limited liability company (“TLP Holdings”), and TLP Holdings contributed the Transferred GP Units to TLP Finance, (iv) the Partnership converted into the Company (a Delaware limited liability company) pursuant to Section 17-219 of the Delaware Limited Partnership Act and changed its name to “TransMontaigne Partners LLC”, and all of our common units owned by TLP Finance were converted into limited liability company interests (“member interest”), (v) the non-economic interest in the Company owned by our general partner was automatically cancelled and ceased to exist and our general partner merged with and into the Company with the Company surviving, and (vi) the Company became 100% owned by TLP Finance (the transactions described in the foregoing clauses (i) through (vi), collectively with the Merger, the “Take-Private Transaction”). As a result of the Take-Private Transaction, our common units ceased to be publicly traded, and our common units are no longer listed on the New York Stock Exchange. Our 6.125% senior unsecured notes due in 2026 remain outstanding, and we are voluntarily filing with the Securities and Exchange Commission pursuant to the covenants contained in those notes. Effective June 1, 2019, TLP Finance contributed all of the issued and outstanding equity of its wholly-owned subsidiary, TLP Management Services LLC (“TMS” and such interest, the “TMS Interest”) to the Company, and the Company immediately contributed the TMS Interest to its 100% owned operating company subsidiary TransMontaigne Operating Company L.P. (the “TMS Contribution”). Prior to the TMS Contribution, we had no employees and all of our management and operational activities were provided by TMS. Further, TMS provided all payroll programs and maintained all employee benefits programs on behalf of our company with respect to applicable TMS employees (as well as on behalf of certain other Arclight affiliates). As a result of the TMS Contribution, we have assumed the employees and operational activities previously provided by TMS, except for our executive officers as further described below. The TMS Contribution has been recorded at carryover basis as a reorganization of entities under common control. As such, prior periods include the assets, liabilities, and results of operations of TMS for all periods presented. As a result of the TMS Contribution, the omnibus agreement in place in various forms since the inception of the Partnership, and immediately prior to the TMS Contribution between TMS and us, which, among other things, governed the provision of management and operational services provided for us by TMS, is no longer relevant and was terminated. Following the TMS Contribution, the executive officers who provide services to the Company are employed by TransMontaigne Management Company, LLC (“TMC”), a wholly owned subsidiary of ArcLight, which also provides services to certain other ArcLight affiliates. As a result, we do not directly employ any of the persons responsible for the executive management of our business. Nonetheless, TMS continues to provide certain payroll functions and maintains all employee benefits programs on behalf of TMC pursuant to a services agreement between TMC and TMS.
Basis of presentation and use of estimates	(b) Basis of presentation and use of estimates Our accounting and financial reporting policies conform to accounting principles generally accepted in the United States of America (“GAAP”). The accompanying consolidated financial statements include the accounts of TransMontaigne Partners LLC and its controlled subsidiaries. Investments where we do not have the ability to exercise control, but do have the ability to exercise significant influence, are accounted for using the equity method of accounting. All inter‑company accounts and transactions have been eliminated in the preparation of the accompanying consolidated financial statements. The accompanying consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly our financial position as of December 31, 2020 and 2019 and our results of operations for the years ended December 31, 2020, 2019 and 2018. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. The following estimates, in management’s opinion, are subjective in nature, require the exercise of judgment, and/or involve complex analyses: useful lives of our plant and equipment and accrued environmental obligations. Changes in these estimates and assumptions will occur as a result of the passage of time and the occurrence of future events. Actual results could differ from these estimates.
Accounting for terminal and pipeline operations	(c) Accounting for terminal and pipeline operations Effective January 1, 2019, we adopted Accounting Standards Codification (“ASC”) Topic 842, Leases and the series of related Accounting Standards Updates that followed (collectively referred to as “ASC 842”). The most significant changes under the new guidance include clarification of the definition of a lease, and the requirements for lessees to recognize a right-of-use asset and a lease liability for all qualifying leases in the consolidated balance sheet. Further, under ASC 842, additional disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. We used the modified retrospective transition method applied at the effective date of the standard. By electing this optional transition method, information prior to January 1, 2019 has not been restated and continues to be reported under the accounting standards in effect for the period (“ASC 840”) (See Note 13 of Notes to consolidated financial statements). Effective January 1, 2018, we adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), applying the modified retrospective transition method, which required us to apply the new standard to (i) all new revenue contracts entered into after January 1, 2018, and (ii) revenue contracts which were not completed as of January 1, 2018. ASC 606 replaces existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which we expect to be entitled in exchange for transferring goods or services to a customer. ASC 606 also requires certain disclosures regarding qualitative and quantitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in a transition adjustment nor did it have an impact on the timing or amount of our revenue recognition (See Note 15 of Notes to consolidated financial statements). The adoption of ASC 606 did not result in changes to our accounting for trade accounts receivable (see Note 3 of Notes to consolidated financial statements), contract assets or contract liabilities. We recognize contract assets in situations where revenue recognition under ASC 606 occurs prior to billing the customer based on our rights under the contract. Contract assets are transferred to accounts receivable when the rights become unconditional. At December 31, 2020, we did not have any contract assets related to ASC 606. Contract liabilities primarily relate to consideration received from customers in advance of completing the performance obligation. A performance obligation is a promise in a contract to transfer goods or services to the customer. We recognize contract liabilities under these arrangements as revenue once all contingencies or potential performance obligations have been satisfied by the (i) performance of services or (ii) expiration of the customer’s rights under the contract. Short-term contract liabilities include customer advances and deposits (see Note 9 of Notes to consolidated financial statements). Long-term contract liabilities include deferred revenue (See Note 10 of Notes to consolidated financial statements). We generate revenue from terminaling services fees, pipeline transportation fees and management fees. Under ASC 606 and ASC 842, we recognize revenue over time or at a point in time, depending on the nature of the performance obligations contained in the respective contract with our customer. The contract transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our revenue is recognized pursuant to ASC 842. The following is an overview of our significant revenue streams, including a description of the respective performance obligations and related method of revenue recognition. Terminaling services fees. Our terminaling services agreements are structured as either throughput agreements or storage agreements. Our throughput agreements contain provisions that require our customers to make minimum payments, which are based on contractually established minimum volumes of throughput of the customer’s product at our facilities, over a stipulated period of time. Due to this minimum payment arrangement, we recognize a fixed amount of revenue from the customer over a certain period of time, even if the customer throughputs less than the minimum volume of product during that period. In addition, if a customer throughputs a volume of product exceeding the minimum volume, we would recognize additional revenue on this incremental volume. Our storage agreements require our customers to make minimum payments based on the volume of storage capacity available to the customer under the agreement, which results in a fixed amount of recognized revenue. We refer to the fixed amount of revenue recognized pursuant to our terminaling services agreements as being “firm commitments.” Our terminaling services agreements include revenue recognized in accordance with ASC 606 and ASC 842. Upon adoption of these standards, we evaluated our contracts to determine whether the contract contained a lease. Significant assumptions used in this process include the determination of whether substantive substitution rights exist based on the terms of the contract and available capacity at the terminal at the time of contract inception. Our terminaling services agreements do not allow our customers to purchase the underlying asset and vary in terms and conditions with respect to extension or termination options. If a contract is accounted for as a lease under ASC 842, we recognize the minimum payments as lease revenue and revenue recognized in excess of firm commitments as a variable payment of the lease. All other components of the contracts accounted for as a lease are treated as non-lease components (ancillary revenue) and are accounted for in accordance with ASC 606. The majority of our firm commitments under our terminaling services agreements are accounted for as lease revenue in accordance with ASC 842 (“ASC 842 revenue”). The remaining firm commitments under our terminaling services agreements not accounted for as lease revenue are accounted for in accordance with ASC 606 (“ASC 606 revenue”), where the minimum payment arrangement in each contract is considered a single performance obligation that is primarily satisfied over time through the contract term. Revenue recognized in excess of firm commitments and revenue recognized based solely on the volume of product distributed or injected are referred to as ancillary. The ancillary revenue associated with terminaling services include volumes of product throughput that exceed the contractually established minimum volumes, injection fees based on the volume of product injected with additive compounds, heating and mixing of stored products, product transfer, railcar handling, butane blending, proceeds from the sale of product gains, wharfage and vapor recovery. The revenue generated by these services is required to be estimated under ASC 606 for any uncertainty that is not resolved in the period of the service. We account for the majority of ancillary revenue at individual points in time when the services are delivered to the customer. The majority of our ancillary revenue is recognized in accordance with ASC 606 (See Note 15 of Notes to consolidated financial statements). Pipeline transportation fees. We earn pipeline transportation fees at our Diamondback pipeline either based on the volume of product transported or under capacity reservation agreements. Revenue associated with the capacity reservation is recognized ratably over the respective term, regardless of whether the capacity is actually utilized. We earn pipeline transportation fees at our Razorback pipeline based on an allocation of the aggregate fees charged under the capacity agreement with our customer who has contracted for 100% of our Razorback system. Pipeline transportation revenue is primarily accounted for in accordance with ASC 842. Management fees. We manage and operate certain tank capacity at our Port Everglades South terminal for a major oil company and receive a reimbursement of its proportionate share of operating and maintenance costs. We manage and operate the Frontera joint venture and receive a management fee based on our costs incurred. We lease land under operating leases as the lessor or sublessor with third parties and affiliates. We also managed and operated for an affiliate of PEMEX, Mexico’s state-owned petroleum company, a products pipeline connected to our Brownsville terminal facility and received a management fee through August 23, 2018. We manage and operate rail sites at certain Southeast terminals on behalf of a major oil company and receive reimbursement for operating and maintenance costs. We manage and operate terminals that are owned by affiliates of ArcLight, including for SeaPort Midstream Partners, LLC in Seattle, Washington and Portland, Oregon and another terminal for SeaPort Sound Terminal, LLC (“SeaPort Sound”) in Tacoma, Washington and receive a management fee based on our costs incurred. We also manage additional terminal facilities that are owned by affiliates of ArcLight, including Lucknow-Highspire Terminals, LLC, which operates terminals throughout Pennsylvania encompassing approximately 9.9 million barrels of storage capacity, and prior to July 1, 2019, a terminal in Baltimore, Maryland for Pike Baltimore Terminals, LLC (the “Baltimore Terminal”), and receive a management fee based on our costs incurred. Our management of the Baltimore Terminal ended on July 1, 2019. Management fee revenue is recognized at individual points in time as the services are performed or as the costs are incurred and is primarily accounted for in accordance with ASC 606. Management fees related to lease revenue are accounted for in accordance with ASC 842.
Cash and cash equivalents	(d) Cash and cash equivalents We consider all short‑term investments with a remaining maturity of three months or less at the date of purchase to be cash equivalents.
Property, plant and equipment	(e) Property, plant and equipment Depreciation is computed using the straight‑line method. Estimated useful lives are 15 to 25 years for terminals and pipelines and 3 to 25 years for furniture, fixtures and equipment. All items of property, plant and equipment are carried at cost. Expenditures that increase capacity or extend useful lives are capitalized. Repairs and maintenance are expensed as incurred. We evaluate long‑lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset group may not be recoverable based on expected undiscounted future cash flows attributable to that asset group. If an asset group is impaired, the impairment loss to be recognized is the excess of the carrying amount of the asset group over its estimated fair value. We did not recognize any impairment charges during the years ended December 31, 2020, 2019 and 2018, respectively.
Investments in unconsolidated affiliates	(f) Investments in unconsolidated affiliates We account for our investments in unconsolidated affiliates, which we do not control but do have the ability to exercise significant influence over, using the equity method of accounting. Under this method, the investment is recorded at acquisition cost, increased by our proportionate share of any earnings and additional capital contributions and decreased by our proportionate share of any losses, distributions received and amortization of any excess investment. Excess investment is the amount by which our total investment exceeds our proportionate share of the book value of the net assets of the investment entity. We evaluate our investments in unconsolidated affiliates for impairment whenever events or circumstances indicate there is a loss in value of the investment that is other than temporary. In the event of impairment, we would record a charge to earnings to adjust the carrying amount to estimated fair value. We did not recognize any impairment charges during the years ended December 31, 2020, 2019 and 2018, respectively.
Environmental obligations	(g) Environmental obligations We accrue for environmental costs that relate to existing conditions caused by past operations when probable and reasonably estimable (see Note 9 of Notes to consolidated financial statements). Environmental costs include initial site surveys and environmental studies of potentially contaminated sites, costs for remediation and restoration of sites determined to be contaminated and ongoing monitoring costs, as well as fines, damages and other costs, including direct legal costs. Liabilities for environmental costs at a specific site are initially recorded, on an undiscounted basis, when it is probable that we will be liable for such costs, and a reasonable estimate of the associated costs can be made based on available information. Such an estimate includes our share of the liability for each specific site and the sharing of the amounts related to each site that will not be paid by other potentially responsible parties, based on enacted laws and adopted regulations and policies. Adjustments to initial estimates are recorded, from time to time, to reflect changing circumstances and estimates based upon additional information developed in subsequent periods. Estimates of our ultimate liabilities associated with environmental costs are difficult to make with certainty due to the number of variables involved, including the early stage of investigation at certain sites, the lengthy time frames required to complete remediation, technology changes, alternatives available and the evolving nature of environmental laws and regulations. We periodically file claims for insurance recoveries of certain environmental remediation costs with our insurance carriers under our comprehensive liability policies (see Note 4 of Notes to consolidated financial statements). In connection with our acquisition of the Florida (other than Pensacola), Midwest, Brownsville, Texas, River, Southeast, and Pensacola, Florida terminal and facilities, a third party agreed to indemnify us against certain potential environmental claims, losses and expenses. Based on our current knowledge, we expect that the active remediation projects subject to the benefit of this indemnification obligation are winding down and will not involve material additional claims, losses, and expenses. Nonetheless, the forgoing environmental indemnification obligations of a third party to us remain in place and were not affected by the Take-Private Transaction.
Asset retirement obligations	(h) Asset retirement obligations Asset retirement obligations are legal obligations associated with the retirement of long‑lived assets that result from the acquisition, construction, development or normal use of the asset. GAAP requires that the fair value of a liability related to the retirement of long‑lived assets be recorded at the time a legal obligation is incurred. Once an asset retirement obligation is identified and a liability is recorded, a corresponding asset is recorded, which is depreciated over the remaining useful life of the asset. After the initial measurement, the liability is adjusted to reflect changes in the asset retirement obligation. If and when it is determined that a legal obligation has been incurred, the fair value of any liability is determined based on estimates and assumptions related to retirement costs, future inflation rates and interest rates. Our long‑lived assets consist of above‑ground storage facilities and underground pipelines. We are unable to predict if and when these long‑lived assets will become completely obsolete and require dismantlement. We have not recorded an asset retirement obligation, or corresponding asset, because the future dismantlement and removal dates of our long‑lived assets is indeterminable and the amount of any associated costs are believed to be insignificant. Changes in our assumptions and estimates may occur as a result of the passage of time and the occurrence of future events.
Deferred compensation expense	(i) Deferred compensation expense We have a savings and retention plan to compensate certain employees who provide services to the Company. Prior to the Take-Private Transaction, we had the ability to settle the awards in our common units, and accordingly, we accounted for the awards as an equity award. Following the Take-Private Transaction, we index the awards to other forms of investments, and have the intent and ability to settle the awards in cash, and accordingly, we account for the awards as liability awards (see Note 12 of Notes to consolidated financial statements).
Accounting for derivative instruments	(j) Accounting for derivative instruments Generally accepted accounting principles require us to recognize all derivative instruments at fair value in the consolidated balance sheets as assets or liabilities. Changes in the fair value of our derivative instruments are recognized in the consolidated statement of operations. At December 31, 2020 and 2019, our derivative instruments were limited to interest rate swap agreements with an aggregate notional amount of $nil and $300 million, respectively. The interest rate swap agreements expired in June 2020. Pursuant to the terms of the interest rate swap agreements, we paid a blended fixed rate of approximately 2.04% and received interest payments based on the one-month LIBOR. The net difference to be paid or received under the interest rate swap agreements was settled monthly and was recognized as an adjustment to interest expense. The fair value of our interest rate swap agreements was determined using a pricing model based on the LIBOR swap rate and other observable market data.
Income taxes	(k) Income taxes No provision for U.S. federal income taxes has been reflected in the accompanying consolidated financial statements because we are treated as a partnership for federal income tax purposes. As a partnership, all income, gains, losses, expenses, deductions and tax credits generated by us flow up to our owners.
Comprehensive Income	(l) Comprehensive income Entities that report items of other comprehensive income have the option to present the components of net earnings and comprehensive income in either one continuous financial statement, or two consecutive financial statements. As we have no components of comprehensive income other than net earnings, no statement of comprehensive income has been presented.
Recent accounting pronouncements	(m) Recent accounting pronouncements In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform — Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional expedients and exceptions to GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by this reference rate reform, if certain criteria are met. An entity that makes this election would not have to re-measure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently reviewing the effect of this ASU on our financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief , which provides transition relief and allows entities to elect the fair value option on certain financial instruments. ASU 2019-05 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. We adopted the new guidance as of January 1, 2020 using the modified retrospective approach related to our accounts receivable and contract assets, resulting in no cumulative adjustment to equity. The adoption of this guidance did not have an impact on our financial position, results of operations and cash flows. In January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other: Simplifying the Test for Goodwill Impairment, to simplify the accounting for goodwill impairment by eliminating step 2 from the goodwill impairment test. ASU 2017-04 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within that reporting period. We adopted the new guidance as of January 1, 2020. The adoption of this guidance did not have an impact on our financial position, results of operations and cash flows.

CONCENTRATION OF CREDIT RISK _2

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2020
CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE
Schedule of trade accounts receivable, net (in thousands)	Trade accounts receivable, net consists of the following (in thousands): December 31, December 31, 2020 2019 Trade accounts receivable $ 9,203 $ 16,627 Less allowance for credit losses — (127) $ 9,203 $ 16,500
Schedule of roll forward of allowance for credit losses (in thousands)	The following table presents a roll forward of our allowance for credit losses (in thousands): Balance at Balance at beginning Charged to end of of period expenses Deductions period 2020 $ 127 $ — $ (127) $ — 2019 $ 109 $ 18 $ — $ 127 2018 $ 111 $ — $ (2) $ 109
Schedule of customer who accounted for at least 10% of consolidated revenue	Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Pilot Flying J 17 % — % — % Freepoint Commodities LLC 10 % 6 % — % RaceTrac Petroleum Inc. 9 % 10 % 11 % Castleton Commodities International LLC 6 % 9 % 10 % NGL Energy Partners LP 1 % 16 % 22 %

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER CURRENT ASSETS
Schedule of other current assets (in thousands)	Other current assets are as follows (in thousands): December 31, December 31, 2020 2019 Prepaid insurance $ 2,123 $ 2,595 Additive detergent 1,585 1,342 Amounts due from insurance companies 668 1,147 Deposits and other assets 1,247 1,262 $ 5,623 $ 6,346

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT, NET
Schedule of property, plant and equipment, net (in thousands)	Property, plant and equipment, net is as follows (in thousands): December 31, December 31, 2020 2019 Land $ 83,657 $ 83,451 Terminals, pipelines and equipment 1,108,410 995,666 Furniture, fixtures and equipment 11,104 9,788 Construction in progress 22,824 73,302 1,225,995 1,162,207 Less accumulated depreciation (488,494) (434,987) $ 737,501 $ 727,220

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2020
GOODWILL
Schedule of goodwill (in thousands)	Goodwill is as follows (in thousands): December 31, December 31, 2020 2019 Brownsville terminals $ 8,485 $ 8,485 West Coast terminals 943 943 $ 9,428 $ 9,428

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2020
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Summary of investments in unconsolidated affiliates	Percentage of Carrying value ownership (in thousands) December 31, December 31, December 31, December 31, 2020 2019 2020 2019 BOSTCO 43 % 43 % $ 201,912 $ 201,743 Frontera 50 % 50 % 24,036 23,682 Total investments in unconsolidated affiliates $ 225,948 $ 225,425
Schedule of earnings from investments in unconsolidated affiliates (in thousands)	Earnings from investments in unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 3,933 $ 2,356 $ 5,767 Frontera 2,565 2,538 3,085 Total earnings from investments in unconsolidated affiliates $ 6,498 $ 4,894 $ 8,852
Schedule of additional capital investments in unconsolidated affiliates (in thousands)	Additional capital investments in unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 7,257 $ 4,707 $ — Frontera — 225 1,413 Additional capital investments in unconsolidated affiliates $ 7,257 $ 4,932 $ 1,413
Schedule of cash distributions received from unconsolidated affiliates (in thousands)	Cash distributions received from unconsolidated affiliates were as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 BOSTCO $ 11,021 $ 8,325 $ 12,135 Frontera 2,211 3,107 4,280 Cash distributions received from unconsolidated affiliates $ 13,232 $ 11,432 $ 16,415
Summary of financial information of unconsolidated affiliates (in thousands)	The summarized financial information of our unconsolidated affiliates was as follows (in thousands): Balance sheets: BOSTCO Frontera December 31, December 31, December 31, December 31, 2020 2019 2020 2019 Current assets $ 15,822 $ 12,478 $ 5,352 $ 4,870 Long-term assets 464,971 464,085 43,939 44,344 Current liabilities (17,543) (13,607) (1,219) (1,850) Long-term liabilities (5,476) (6,036) — — Net assets $ 457,774 $ 456,920 $ 48,072 $ 47,364 Statements of income : BOSTCO Frontera Year ended Year ended December 31, December 31, 2020 2019 2018 2020 2019 2018 Revenue $ 64,575 $ 60,751 $ 66,288 $ 19,520 $ 20,076 $ 24,017 Expenses (53,916) (54,033) (51,993) (14,390) (15,000) (17,847) Net income $ 10,659 $ 6,718 $ 14,295 $ 5,130 $ 5,076 $ 6,170

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER ASSETS, NET
Schedule of other assets, net (in thousands)	Other assets, net are as follows (in thousands): December 31, December 31, 2020 2019 Customer relationships, net of accumulated amortization of $9,587 and $7,237, respectively $ 39,843 $ 42,193 Revolving credit facility unamortized deferred debt issuance costs, net of accumulated amortization of $11,054 and $9,353, respectively 2,117 3,818 Amounts due under long-term terminaling services agreements 1,347 215 Deposits and other assets 735 1,171 $ 44,042 $ 47,397
Schedule of expected amortization expense for customer relationships (in thousands)	Amortizable intangible assets are only evaluated for impairment upon a significant change in the operating environment. If an evaluation of the undiscounted cash flows indicates impairment, the asset is written down to its estimated fair value, which is generally based on discounted future cash flows. We have not taken an impairment on customer relationships in the years presented. Expected future amortization expense for the customer relationships as of December 31, 2020 is as follows (in thousands): Years ending December 31, 2021 2022 2023 2024 2025 Thereafter Amortization expense $ 2,350 $ 2,350 $ 2,350 $ 2,350 $ 2,350 $ 28,093

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
ACCRUED LIABILITIES
Schedule of accrued liabilities (in thousands)	Accrued liabilities are as follows (in thousands): December 31, December 31, 2020 2019 Accrued compensation expense $ 12,283 $ 13,272 Customer advances and deposits 10,689 7,850 Interest payable 7,619 7,763 Accrued property taxes 3,018 3,149 Accrued environmental obligations 983 1,531 Unrealized loss on derivative instrument — 480 Accrued expenses and other 140 2,513 $ 34,732 $ 36,558
Schedule of roll forward of accrued environmental obligations (in thousands)	The following table presents a roll forward of our accrued environmental obligations (in thousands): Balance at Increase Balance at beginning (decrease) end of of period Payments in estimate period 2020 $ 1,531 $ (475) $ (73) $ 983 2019 $ 1,556 $ (671) $ 646 $ 1,531 2018 $ 1,855 $ (457) $ 158 $ 1,556

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER LIABILITIES
Schedule of other liabilities (in thousands)	Other liabilities are as follows (in thousands): December 31, December 31, 2020 2019 Advance payments received under long-term terminaling services agreements $ 2,569 $ 3,782 Deferred revenue 2,251 1,208 $ 4,820 $ 4,990

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
LONG-TERM DEBT
Summary of long term debt	Long-term debt is as follows (in thousands): December 31, December 31, 2020 2019 Revolving credit facility due in 2022 $ 350,400 $ 350,700 6.125% senior notes due in 2026 299,900 300,000 Senior notes unamortized deferred debt issuance costs, net of accumulated amortization of $2,441 and $1,544, respectively (5,641) (6,538) $ 644,659 $ 644,162

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Schedule of lease cost and other information	Following are components of our lease costs (in thousands): Year ended Year ended December 31, December 31, 2020 2019 Operating leases $ 4,723 $ 4,548 Variable lease costs (including insignificant short-term leases) 849 892 Sublease income as primary obligor (1,000) (992) Total lease costs $ 4,572 $ 4,448 Other information related to our operating leases was as follows (in thousands, except lease term and discount rate): Year ended Year ended December 31, December 31, 2020 2019 Cash outflows for operating leases $ 4,742 $ 4,371 Weighted average remaining lease term (years) 18.35 18.79 Weighted average discount rate
Schedule of future minimum lease payments	Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of December 31, 2020 and related imputed interest was as follows (in thousands): Years ending December 31: 2021 $ 4,758 2022 4,749 2023 4,151 2024 3,699 2025 3,286 Thereafter 36,545 Total lease payments 57,188 Less imputed interest (21,486) Present value of operating lease liabilities $ 35,702

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue disaggregated by category (in thousands)	The following table provides details of our revenue disaggregated by category of revenue (in thousands): Year ended Year ended December 31, December 31, 2020 2019 Terminaling services fees: Firm commitments (ASC 842 revenue) $ 197,385 $ 178,214 Firm commitments (ASC 606 revenue) 15,018 14,226 Total firm commitments revenue 212,403 192,440 Ancillary revenue (ASC 606 revenue) 40,029 44,062 Ancillary revenue (ASC 842 revenue) 2,577 4,448 Total ancillary revenue 42,606 48,510 Total terminaling services fees 255,009 240,950 Pipeline transportation fees (ASC 842 revenue) 3,519 3,457 Management fees (ASC 606 revenue) 17,354 16,836 Management fees (ASC 842 revenue) 1,211 1,799 Total management fees 18,565 18,635 Total revenue $ 277,093 $ 263,042
Schedule of estimated future ASC 606 revenue by segment (in thousands)	The following table includes our estimated future revenue associated with our firm commitments under terminaling services fees which is expected to be recognized as ASC 606 revenue in the specified period related to our future performance obligations as of the end of the reporting period (in thousands): Estimated Future ASC 606 Revenue by Segment Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total 2021 $ 4,572 $ 119 $ — $ 1,056 $ — $ 5,837 $ — $ 11,584 2022 1,656 — — 1,016 — 1,576 — 4,248 2023 226 — — 508 — — — 734 2024 — — — — — — — — 2025 — — — — — — — — Thereafter — — — — — — — — Total estimated future ASC 606 revenue $ 6,454 $ 119 $ — $ 2,580 $ — $ 7,413 $ — $ 16,566
Schedule of estimated future ASC 842 revenue (in thousands)	The following table includes our estimated future revenue associated with our firm commitments under terminaling services fees which is expected to be recognized as ASC 842 revenue in the specified period (in thousands): Years ending December 31: 2021 $ 171,258 2022 126,172 2023 102,847 2024 60,222 2025 41,388 Thereafter 481,486 Total estimated future ASC 842 revenue $ 983,373

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
BUSINESS SEGMENTS
Schedule of information related to financial performance of business segments (in thousands)	The financial performance of our business segments is as follows (in thousands): Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Gulf Coast Terminals: Terminaling services fees $ 76,875 $ 73,380 $ 64,338 Management fees 32 36 284 Revenue 76,907 73,416 64,622 Operating costs and expenses (20,946) (22,196) (22,817) Net margins 55,961 51,220 41,805 Midwest Terminals: Terminaling services fees 8,358 9,804 10,127 Pipeline transportation fees 1,909 1,851 1,772 Revenue 10,267 11,655 11,899 Operating costs and expenses (2,942) (3,443) (3,053) Net margins 7,325 8,212 8,846 Brownsville Terminals: Terminaling services fees 15,071 11,560 8,339 Pipeline transportation fees 1,610 1,606 1,523 Management fees 5,288 5,787 7,384 Revenue 21,969 18,953 17,246 Operating costs and expenses (9,749) (9,053) (7,812) Net margins 12,220 9,900 9,434 River Terminals: Terminaling services fees 11,700 10,233 10,654 Revenue 11,700 10,233 10,654 Operating costs and expenses (5,777) (6,040) (6,832) Net margins 5,923 4,193 3,822 Southeast Terminals: Terminaling services fees 88,573 87,813 82,821 Management fees 947 964 891 Revenue 89,520 88,777 83,712 Operating costs and expenses (23,498) (23,500) (26,836) Net margins 66,022 65,277 56,876 West Coast Terminals: Terminaling services fees 54,432 48,160 39,952 Management fees 38 36 8 Revenue 54,470 48,196 39,960 Operating costs and expenses (18,454) (16,339) (14,678) Net margins 36,016 31,857 25,282 Central Services: Management fees 12,260 11,812 4,204 Revenue 12,260 11,812 4,204 Operating costs and expenses (21,245) (22,451) (16,949) Net margins (8,985) (10,639) (12,745) Total net margins 174,482 160,020 133,320 General and administrative expenses (21,657) (23,660) (23,707) Insurance expenses (4,973) (4,995) (4,976) Deferred compensation expense (1,834) (2,308) (3,478) Depreciation and amortization (57,400) (52,535) (49,793) Earnings from unconsolidated affiliates 6,498 4,894 8,852 Gain from insurance proceeds — 3,351 — Loss on disposition of assets — — (901) Operating income 95,116 84,767 59,317 Other expenses (33,768) (38,853) (34,937) Net earnings $ 61,348 $ 45,914 $ 24,380
Schedule of supplemental information about consolidated business segments (in thousands)	Supplemental information about our business segments is summarized below (in thousands): Year ended December 31, 2020 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 68,268 $ 10,267 $ 14,062 $ 11,700 $ 89,520 $ 54,470 $ — $ 248,287 Affiliate customers 8,639 — 7,907 — — — 12,260 28,806 Revenue $ 76,907 $ 10,267 $ 21,969 $ 11,700 $ 89,520 $ 54,470 $ 12,260 $ 277,093 Capital expenditures $ 9,491 $ 933 $ 22,116 $ 9,314 $ 22,091 $ 7,638 $ 1,154 $ 72,737 Identifiable assets $ 122,218 $ 18,193 $ 108,903 $ 50,337 $ 254,497 $ 270,539 $ 12,869 $ 837,556 Cash and cash equivalents 595 Investments in unconsolidated affiliates 225,948 Revolving credit facility unamortized deferred debt issuance costs, net 2,117 Other 2,990 Total assets $ 1,069,206 Year ended December 31, 2019 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 64,879 $ 11,655 $ 10,535 $ 10,233 $ 88,777 $ 48,196 $ — $ 234,275 Affiliate customers 8,537 — 8,418 — — — 11,812 28,767 Revenue $ 73,416 $ 11,655 $ 18,953 $ 10,233 $ 88,777 $ 48,196 $ 11,812 $ 263,042 Capital expenditures $ 7,697 $ 722 $ 27,068 $ 2,978 $ 39,947 $ 10,458 $ 2,153 $ 91,023 Identifiable assets $ 125,062 $ 19,595 $ 93,903 $ 45,263 $ 262,462 $ 278,610 $ 13,329 $ 838,224 Cash and cash equivalents 1,090 Investments in unconsolidated affiliates 225,425 Revolving credit facility unamortized deferred debt issuance costs, net 3,818 Other 3,496 Total assets $ 1,072,053 Year ended December 31, 2018 Gulf Coast Midwest Brownsville River Southeast West Coast Central Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: External customers $ 56,144 $ 11,899 $ 8,934 $ 10,654 $ 83,712 $ 39,960 $ — $ 211,303 Affiliate customers 8,478 — 8,312 — — — 4,204 20,994 Revenue $ 64,622 $ 11,899 $ 17,246 $ 10,654 $ 83,712 $ 39,960 $ 4,204 $ 232,297 Capital expenditures $ 5,357 $ 568 $ 15,673 $ 1,596 $ 35,070 $ 7,858 $ 209 $ 66,331

FINANCIAL RESULTS BY QUARTER _2

FINANCIAL RESULTS BY QUARTER (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2020
FINANCIAL RESULTS BY QUARTER (UNAUDITED)
Schedule of financial results by quarter	Three months ended Year ended March 31, June 30, September 30, December 31, December 31, 2020 2020 2020 2020 2020 (in thousands) Revenue $ $ 68,058 $ 69,428 $ 70,766 $ 277,093 Operating costs and expenses (26,637) (25,355) (25,241) (25,378) (102,611) General and administrative expenses (6,317) (5,250) (4,820) (5,270) (21,657) Insurance expenses (1,208) (1,280) (1,258) (1,227) (4,973) Deferred compensation expense (911) (354) (309) (260) (1,834) Depreciation and amortization (13,641) (14,242) (14,674) (14,843) (57,400) Earnings from unconsolidated affiliates 2,153 1,850 1,789 706 6,498 Operating income 22,280 23,427 24,915 24,494 95,116 Interest expense (9,214) (7,204) (7,435) (7,341) (31,194) Amortization of deferred debt issuance costs (643) (627) (650) (654) (2,574) Net earnings $ 12,423 $ 15,596 $ 16,830 $ 16,499 $ 61,348 Three months ended Year ended March 31, June 30, September 30, December 31, December 31, 2019 2019 2019 2019 2019 (in thousands) Revenue $ 61,268 $ 64,969 $ 66,573 $ 70,232 $ 263,042 Operating costs and expenses (25,325) (26,464) (24,395) (26,838) (103,022) General and administrative expenses (8,164) (5,212) (4,603) (5,681) (23,660) Insurance expenses (1,361) (1,218) (1,240) (1,176) (4,995) Deferred compensation expense (799) (294) (376) (839) (2,308) Depreciation and amortization (12,652) (13,107) (13,362) (13,414) (52,535) Earnings from unconsolidated affiliates 1,140 1,225 1,476 1,053 4,894 Gain from insurance proceeds — 3,351 — — 3,351 Operating income 14,107 23,250 24,073 23,337 84,767 Interest expense (8,842) (9,708) (9,107) (8,539) (36,196) Amortization of deferred debt issuance costs (749) (632) (636) (640) (2,657) Net earnings $ 4,516 $ 12,910 $ 14,330 $ 14,158 $ 45,914

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 01, 2019	Feb. 26, 2019	Dec. 31, 2020	Feb. 12, 2018
Pipeline transportation fees | Razorback pipeline
Capacity contracted by individual customer (as a percent)			100.00%
6.125% senior notes due in 2026
Interest (as a percent)			6.125%	6.125%
TLP Finance Holdings, LLC | Common units
Conversion ratio of partner units converted into Partnership common units		1
Conversion ratio of incentive distribution rights converted into Partnership common units		100
TLP Finance Holdings, LLC
Ownership interest in subsidiary (as a percent)	100.00%	100.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting for operations (Details) bbl in Millions	12 Months Ended
	Dec. 31, 2020bbl
Lucknow-Highspire Terminals, LLC
Related Party Transaction [Line Items]
Terminal storage capacity (in barrels)	9.9

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, and Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipment
Long-lived assets impairment	$ 0	$ 0	$ 0
Equity investments impairment	$ 0	$ 0	$ 0
Terminals and pipelines | Minimum
Property, plant and equipment
Estimated useful lives	15 years
Terminals and pipelines | Maximum
Property, plant and equipment
Estimated useful lives	25 years
Furniture, fixtures and equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years
Furniture, fixtures and equipment | Maximum
Property, plant and equipment
Estimated useful lives	25 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Derivatives, Taxes and Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income taxes
Provision for U.S. federal income taxes	$ 0	$ 0
Interest rate swap
Accounting for derivative instruments
Derivative, Notional Amount	$ 0	$ 300
Fixed interest rate paid (as a percent)	2.04%

TRANSACTIONS WITH AFFILIATES -

TRANSACTIONS WITH AFFILIATES - Agreements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)itembbl	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
June 2021 terminaling services agreement-Brownsville LLC | Frontera | Brownsville terminals
Transactions with affiliates
Number of Terminaling Services Agreements | item	2
Storage capacity agreed to be provided (in barrels) | bbl	301,000
Throughput revenue	$ 2.6	$ 2.6	$ 2.5
June 2021 terminaling services agreement-Brownsville LLC | Frontera | Brownsville terminals | Minimum
Transactions with affiliates
Notice period for termination of service agreement	90 days
June 2021 terminaling services agreement-Brownsville LLC | Frontera | Brownsville terminals | Maximum
Transactions with affiliates
Notice period for termination of service agreement	180 days
Operations and reimbursement agreement-Frontera | Frontera
Transactions with affiliates
Ownership interest in joint venture (as a percent)	50.00%
Revenue recognized	$ 5.3	5.8	5.8
Terminaling services agreement- Gulf Coast Terminals | Associated Asphalt Marketing, LLC | Gulf Coast Terminals
Transactions with affiliates
Automatic renewal period of service agreement	5 years
Notice period for termination of service agreement	180 days
Storage capacity agreed to be provided (in barrels) | bbl	750,000
Throughput revenue	$ 8.6	8.5	8.5
Terminaling services agreement- Gulf Coast Terminals | Associated Asphalt Marketing, LLC | Gulf Coast Terminals | Automatic renewals following initial automatic renewal under the agreement
Transactions with affiliates
Automatic renewal period of service agreement	2 years
Notice period for termination of service agreement	180 days
Operating and administrative agreement SeaPort Midstream Partners, LLC | TMS | Central Services
Transactions with affiliates
Number of refined terminals operated | item	2
Operating and administrative agreement SeaPort Midstream Partners, LLC | SeaPort Midstream Partners, LLC | Central Services
Transactions with affiliates
Revenue recognized	$ 3.3	3.4	3.4
Automatic renewal period of service agreement	2 years
Notice period for termination of service agreement	12 months
Operating and administrative agreement SeaPort Midstream Partners, LLC | SeaPort Midstream Partners, LLC | SeaPort Midstream Holdings, LLC | Central Services
Transactions with affiliates
Ownership interest in joint venture (as a percent)	51.00%
Operations and reimbursement agreement SeaPort Sound Terminal, LLC | SeaPort Sound Terminal, LLC | Central Services
Transactions with affiliates
Revenue recognized	$ 7.7	7.2	0.7
Reimbursement agreement | ArcLight | Central Services
Transactions with affiliates
Revenue recognized	$ 1.3	1.2	0.1
Services Agreement | TransMontaigne Management Company, LLC
Transactions with affiliates
Administration fee (in Percentage)	1.00%
Aggregate fees paid	$ 2.7	$ 0.8	$ 0

CONCENTRATION OF CREDIT RISK _3

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration of credit risk and trade accounts receivable
Revenue in accordance with ASC 606	$ 2,400	$ 4,700
Trade accounts receivable	9,203	16,627
Less allowance for credit losses		(127)
Trade accounts receivable, net	9,203	16,500
Changes in allowance for credit losses
Balance at beginning of period	127	109	$ 111
Charged to expenses		18
Deductions	$ (127)		(2)
Balance at end of period		$ 127	$ 109
Pilot Flying J
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	17.00%
Freepoint Commodities LLC
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	10.00%	6.00%
RaceTrac Petroleum Inc
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	9.00%	10.00%	11.00%
Castleton Commodities International LLC
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	6.00%	9.00%	10.00%
NGL Energy Partners LP
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	1.00%	16.00%	22.00%

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
OTHER CURRENT ASSETS
Prepaid insurance	$ 2,123	$ 2,595
Additive detergent	1,585	1,342
Amounts due from insurance companies	668	1,147
Deposits and other assets	1,247	1,262
Other current assets	5,623	$ 6,346
Reimbursements from insurance companies	$ 500

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, plant and equipment, net
Property, plant and equipment, gross	$ 1,225,995	$ 1,162,207
Less accumulated depreciation	(488,494)	(434,987)
Property, plant and equipment, net	737,501	727,220
Land
Property, plant and equipment, net
Property, plant and equipment, gross	83,657	83,451
Terminals, pipelines and equipment
Property, plant and equipment, net
Property, plant and equipment, gross	1,108,410	995,666
Furniture, fixtures and equipment
Property, plant and equipment, net
Property, plant and equipment, gross	11,104	9,788
Construction in progress
Property, plant and equipment, net
Property, plant and equipment, gross	22,824	73,302
Utilized by customers in operating lease arrangements
Property, plant and equipment, net
Property, plant and equipment, net	$ 582,600	$ 523,900

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill
Goodwill	$ 9,428	$ 9,428
Brownsville and West Coast terminals
Goodwill
Impairment charges	0	0	$ 0
Brownsville terminals
Goodwill
Goodwill	8,485	8,485
West Coast terminals
Goodwill
Goodwill	$ 943	$ 943

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) $ in Thousands, bbl in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)bbl	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Carrying value of investments in unconsolidated affiliates	$ 225,948				$ 225,425				$ 225,948	$ 225,425
Earnings from unconsolidated affiliates	$ 706	$ 1,789	$ 1,850	$ 2,153	$ 1,053	$ 1,476	$ 1,225	$ 1,140	6,498	4,894	$ 8,852
Additional capital investments in unconsolidated affiliates									7,257	4,932	1,413
Cash distributions received from unconsolidated affiliates									$ 13,232	$ 11,432	16,415
BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Storage capacity | bbl									7.1
Percentage of ownership	42.50%				43.00%				42.50%	43.00%
Carrying value of investments in unconsolidated affiliates	$ 201,912				$ 201,743				$ 201,912	$ 201,743
Excess investment	6,400				6,600				6,400	6,600
Earnings from unconsolidated affiliates									3,933	2,356	5,767
Additional capital investments in unconsolidated affiliates									7,257	4,707
Cash distributions received from unconsolidated affiliates									11,021	8,325	12,135
Balance sheets:
Current assets	15,822				12,478				15,822	12,478
Long-term assets	464,971				464,085				464,971	464,085
Current liabilities	(17,543)				(13,607)				(17,543)	(13,607)
Long-term liabilities	(5,476)				(6,036)				(5,476)	(6,036)
Net assets	$ 457,774				$ 456,920				457,774	456,920
Statements of income:
Revenue									64,575	60,751	66,288
Expenses									(53,916)	(54,033)	(51,993)
Net income									$ 10,659	$ 6,718	14,295
Frontera
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Storage capacity | bbl									1.7
Percentage of ownership	50.00%				50.00%				50.00%	50.00%
Carrying value of investments in unconsolidated affiliates	$ 24,036				$ 23,682				$ 24,036	$ 23,682
Earnings from unconsolidated affiliates									2,565	2,538	3,085
Additional capital investments in unconsolidated affiliates										225	1,413
Cash distributions received from unconsolidated affiliates									2,211	3,107	4,280
Balance sheets:
Current assets	5,352				4,870				5,352	4,870
Long-term assets	43,939				44,344				43,939	44,344
Current liabilities	(1,219)				(1,850)				(1,219)	(1,850)
Net assets	$ 48,072				$ 47,364				48,072	47,364
Statements of income:
Revenue									19,520	20,076	24,017
Expenses									(14,390)	(15,000)	(17,847)
Net income									$ 5,130	$ 5,076	$ 6,170
Class A Member Ownership Interest | BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Cash distributions, allocation percentage									96.50%
Class B Member Ownership Interest | BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Cash distributions, allocation percentage									3.50%

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
OTHER ASSETS, NET
Customer relationships, net of accumulated amortization of $9,587 and $7,237, respectively	$ 39,843	$ 42,193
Revolving credit facility unamortized deferred debt issuance costs, net of accumulated amortization of $11,054 and $9,353, respectively	2,117	3,818
Amounts due under long-term terminaling services agreements	1,347	215
Deposits and other assets	735	1,171
Other assets, net	44,042	47,397
Accumulated amortization of customer relationships	9,587	7,237
Accumulated amortization of deferred financing costs	$ 11,054	$ 9,353
Amortization period of customer relationships	20 years
Amortization expense for customer relationships
2021	$ 2,350
2022	2,350
2023	2,350
2024	2,350
2025	2,350
Thereafter	$ 28,093

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ACCRUED LIABILITIES
Accrued compensation expense	$ 12,283	$ 13,272
Customer advances and deposits	10,689	7,850
Interest payable	7,619	7,763
Accrued property taxes	3,018	3,149
Accrued environmental obligations	983	1,531
Unrealized loss on derivative instrument		480
Accrued expenses and other	140	2,513
Accrued liabilities	$ 34,732	36,558
Period for billing of customers in advance for terminaling services	1 month
Customer advances and deposits, ASC 842	$ 9,600	7,000
Contract liabilities under ASC 606	1,100	900
Revenue recognized from contract liabilities	900	800
Deferred revenue, revenue recognized	1,100	800	$ 1,800
Accrued environmental obligations
Balance at beginning of period	1,531	1,556	1,855
Payments	(475)	(671)	(457)
Increase (decrease) in estimate	(73)	646	158
Balance at end of period	$ 983	$ 1,531	$ 1,556

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OTHER LIABILITIES
Advance payments received under long-term terminaling services agreements	$ 2,569	$ 3,782
Deferred revenue	2,251	1,208
Other liabilities	4,820	4,990
Completed projects billed	2,200	100	$ 1,700
Recognized revenue on a straight line basis for completed projects	1,100	800	$ 1,800
Deferred revenue related to terminaling services agreements, ASC 842	2,300	1,200
Contract liabilities	0	0
Revenue recognized from contract liabilities	$ 0	$ 200

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018	Feb. 12, 2018USD ($)
Long-term debt
Senior notes unamortized deferred debt issuance costs, net of accumulated amortization of $2,441 and $1,544, respectively	$ (5,641)	$ (6,538)
Total long-term debt	644,659	644,162
Accumulated amortization	$ 2,441	1,544
TLP Finance Corp
Long-term debt
Ownership interest in subsidiary (as a percent)	100.00%
TransMontaigne Partners LLC
Long-term debt
Amount of independent assets	$ 0
Amount of independent operations	$ 0
TransMontaigne Operating Company L.P
Long-term debt
Ownership interest in subsidiary (as a percent)	100.00%
6.125% senior notes due in 2026
Long-term debt
Total long-term debt	$ 299,900	$ 300,000
Interest (as a percent)	6.125%			6.125%
Sale of senior notes				$ 300,000
Issuance costs				$ 8,100
Credit facility
Long-term debt
Weighted average interest rate on borrowings (as a percent)	4.30%	5.70%	5.20%
Outstanding borrowings under credit facility	$ 350,400	$ 350,700
Outstanding borrowings under letters of credit	$ 1,300	1,300
Credit facility | Minimum
Long-term debt
Commitment fee on unused amount of commitments (as a percent)	0.375%
Credit facility | Minimum | LIBOR
Long-term debt
Margin interest above reference rate (as a percent)	1.75%
Credit facility | Minimum | Base Rate
Long-term debt
Margin interest above reference rate (as a percent)	0.75%
Credit facility | Maximum
Long-term debt
Commitment fee on unused amount of commitments (as a percent)	0.50%
Credit facility | Maximum | LIBOR
Long-term debt
Margin interest above reference rate (as a percent)	2.75%
Credit facility | Maximum | Base Rate
Long-term debt
Margin interest above reference rate (as a percent)	1.75%
Revolving credit facility due March 13, 2022
Long-term debt
Total long-term debt	$ 350,400	$ 350,700
Maximum borrowing capacity	$ 850,000
Other investments as a percentage of consolidated net tangible assets	5.00%
Permitted JV investments subject to liquidity	$ 175,000
Revolving credit facility due March 13, 2022 | Maximum
Long-term debt
Leverage ratio	5.25
Senior secured leverage ratio	3.75
Interest coverage ratio	2.75

DEFERRED COMPENSATION EXPENSE (

DEFERRED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Additional disclosures
Deferred compensation expense	$ 1,834	$ 2,308	$ 3,478
TMS
Additional disclosures
Deferred compensation expense	$ 1,800	$ 2,300	$ 3,500
TMS | Restricted phantom units
Additional disclosures
Vesting (as a percent)	50.00%
TMS | Restricted phantom units | Tranche One
Additional disclosures
Earlier vesting, age threshold (in years)	60 years
TMS | Restricted phantom units | Tranche Two
Additional disclosures
Earlier vesting, age threshold (in years)	55 years
Earlier vesting, length of service threshold (in years)	10 years
TMS | Restricted phantom units | Tranche Three
Additional disclosures
Earlier vesting, age threshold (in years)	50 years
Earlier vesting, length of service threshold (in years)	20 years

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 33,880	$ 35,765
Operating lease liability	$ 35,702
Lessee, Operating Lease, Existence of Option to Extend	true
Lessee, Operating Lease, Existence of Option to Terminate	true
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	40 years
Adjustment | ASC 842
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets			$ 37,900
Operating lease liability			$ 39,500

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Lease cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Operating leases	$ 4,723	$ 4,548
Variable lease costs (including insignificant short-term leases)	849	892
Sublease income as primary obligor	(1,000)	(992)
Total lease costs	$ 4,572	$ 4,448

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Cash outflows for operating leases	$ 4,742	$ 4,371
Weighted average remaining lease term (years)	18 years 4 months 6 days	18 years 9 months 15 days
Weighted average discount rate	5.20%	5.20%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Undiscounted Cash Flows Owed (Details) $ in Thousands	Dec. 31, 2020USD ($)
COMMITMENTS AND CONTINGENCIES
2021	$ 4,758
2022	4,749
2023	4,151
2024	3,699
2025	3,286
Thereafter	36,545
Total lease payments	57,188
Less imputed interest	(21,486)
Present value of operating lease liabilities	35,702
Contractual commitments for supply of services, labor and materials	$ 26,000

DISCLOSURES ABOUT FAIR VALUE (D

DISCLOSURES ABOUT FAIR VALUE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfers between the three levels of the fair value hierarchy	$ 0
Senior notes	644,659	$ 644,162
6.125% senior notes due in 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	299,900	$ 300,000
6.125% senior notes due in 2026 | Fair value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 302,900

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregated (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 70,766	$ 69,428	$ 68,058	$ 68,841	$ 70,232	$ 66,573	$ 64,969	$ 61,268	$ 277,093	$ 263,042	$ 232,297
Firm commitments revenue
Disaggregation of Revenue [Line Items]
ASC 842 revenue									197,385	178,214
ASC 606 revenue									15,018	14,226
Total revenue									212,403	192,440
Ancillary revenue
Disaggregation of Revenue [Line Items]
ASC 842 revenue									2,577	4,448
ASC 606 revenue									40,029	44,062
Total revenue									42,606	48,510
Terminaling services fees
Disaggregation of Revenue [Line Items]
Total revenue									255,009	240,950
Pipeline transportation fees
Disaggregation of Revenue [Line Items]
ASC 842 revenue									3,519	3,457
Management fees
Disaggregation of Revenue [Line Items]
ASC 842 revenue									1,211	1,799
ASC 606 revenue									17,354	16,836
Total revenue									$ 18,565	$ 18,635

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 16,566
2021	171,258
2022	126,172
2023	102,847
2024	60,222
2025	41,388
Thereafter	481,486
Total estimated future ASC 842 revenue	983,373
Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	6,454
Midwest Terminals and Pipeline System
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	119
River terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	2,580
West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	7,413
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 11,584
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 4,572
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Midwest Terminals and Pipeline System
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 119
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | River terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,056
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 5,837
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 4,248
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,656
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Midwest Terminals and Pipeline System
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | River terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,016
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,576
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 734
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 226
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | River terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 508
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segments of business
Revenue	$ 70,766	$ 69,428	$ 68,058	$ 68,841	$ 70,232	$ 66,573	$ 64,969	$ 61,268	$ 277,093	$ 263,042	$ 232,297
Operating costs and expenses	(25,378)	(25,241)	(25,355)	(26,637)	(26,838)	(24,395)	(26,464)	(25,325)	(102,611)	(103,022)	(98,977)
Net margins									174,482	160,020	133,320
General and administrative expenses	(5,270)	(4,820)	(5,250)	(6,317)	(5,681)	(4,603)	(5,212)	(8,164)	(21,657)	(23,660)	(23,707)
Insurance expenses	(1,227)	(1,258)	(1,280)	(1,208)	(1,176)	(1,240)	(1,218)	(1,361)	(4,973)	(4,995)	(4,976)
Deferred compensation expense									(1,834)	(2,308)	(3,478)
Depreciation and amortization	(14,843)	(14,674)	(14,242)	(13,641)	(13,414)	(13,362)	(13,107)	(12,652)	(57,400)	(52,535)	(49,793)
Loss on disposition of assets											(901)
Earnings from unconsolidated affiliates	706	1,789	1,850	2,153	1,053	1,476	1,225	1,140	6,498	4,894	8,852
Gain from insurance proceeds							3,351			3,351
Operating income	24,494	24,915	23,427	22,280	23,337	24,073	23,250	14,107	95,116	84,767	59,317
Other expenses									(33,768)	(38,853)	(34,937)
Net earnings	16,499	$ 16,830	$ 15,596	$ 12,423	14,158	$ 14,330	$ 12,910	$ 4,516	61,348	45,914	24,380
Capital expenditures									72,737	91,023	66,331
Identifiable assets	837,556				838,224				837,556	838,224
Cash and cash equivalents	595				1,090				595	1,090
Investments in unconsolidated affiliates	225,948				225,425				225,948	225,425
Revolving credit facility unamortized deferred debt issuance costs, net	2,117				3,818				2,117	3,818
Other	2,990				3,496				2,990	3,496
TOTAL ASSETS	1,069,206				1,072,053				1,069,206	1,072,053
External customers
Segments of business
Revenue									248,287	234,275	211,303
Affiliate customers
Segments of business
Revenue									28,806	28,767	20,994
Gulf Coast Terminals
Segments of business
Revenue									76,907	73,416	64,622
Operating costs and expenses									(20,946)	(22,196)	(22,817)
Net margins									55,961	51,220	41,805
Capital expenditures									9,491	7,697	5,357
Identifiable assets	122,218				125,062				122,218	125,062
Gulf Coast Terminals | External customers
Segments of business
Revenue									68,268	64,879	56,144
Gulf Coast Terminals | Affiliate customers
Segments of business
Revenue									8,639	8,537	8,478
Midwest Terminals
Segments of business
Revenue									10,267	11,655	11,899
Operating costs and expenses									(2,942)	(3,443)	(3,053)
Net margins									7,325	8,212	8,846
Capital expenditures									933	722	568
Identifiable assets	18,193				19,595				18,193	19,595
Midwest Terminals | External customers
Segments of business
Revenue									10,267	11,655	11,899
Brownsville terminals
Segments of business
Revenue									21,969	18,953	17,246
Operating costs and expenses									(9,749)	(9,053)	(7,812)
Net margins									12,220	9,900	9,434
Capital expenditures									22,116	27,068	15,673
Identifiable assets	108,903				93,903				108,903	93,903
Brownsville terminals | External customers
Segments of business
Revenue									14,062	10,535	8,934
Brownsville terminals | Affiliate customers
Segments of business
Revenue									7,907	8,418	8,312
River terminals
Segments of business
Revenue									11,700	10,233	10,654
Operating costs and expenses									(5,777)	(6,040)	(6,832)
Net margins									5,923	4,193	3,822
Capital expenditures									9,314	2,978	1,596
Identifiable assets	50,337				45,263				50,337	45,263
River terminals | External customers
Segments of business
Revenue									11,700	10,233	10,654
Southeast terminals
Segments of business
Revenue									89,520	88,777	83,712
Operating costs and expenses									(23,498)	(23,500)	(26,836)
Net margins									66,022	65,277	56,876
Capital expenditures									22,091	39,947	35,070
Identifiable assets	254,497				262,462				254,497	262,462
Southeast terminals | External customers
Segments of business
Revenue									89,520	88,777	83,712
West Coast terminals
Segments of business
Revenue									54,470	48,196	39,960
Operating costs and expenses									(18,454)	(16,339)	(14,678)
Net margins									36,016	31,857	25,282
Capital expenditures									7,638	10,458	7,858
Identifiable assets	270,539				278,610				270,539	278,610
West Coast terminals | External customers
Segments of business
Revenue									54,470	48,196	39,960
Central Services
Segments of business
Revenue									12,260	11,812	4,204
Operating costs and expenses									(21,245)	(22,451)	(16,949)
Net margins									(8,985)	(10,639)	(12,745)
Capital expenditures									1,154	2,153	209
Identifiable assets	$ 12,869				$ 13,329				12,869	13,329
Central Services | Affiliate customers
Segments of business
Revenue									12,260	11,812	4,204
Terminaling services fees
Segments of business
Revenue									255,009	240,950
Terminaling services fees | Gulf Coast Terminals
Segments of business
Revenue									76,875	73,380	64,338
Terminaling services fees | Midwest Terminals
Segments of business
Revenue									8,358	9,804	10,127
Terminaling services fees | Brownsville terminals
Segments of business
Revenue									15,071	11,560	8,339
Terminaling services fees | River terminals
Segments of business
Revenue									11,700	10,233	10,654
Terminaling services fees | Southeast terminals
Segments of business
Revenue									88,573	87,813	82,821
Terminaling services fees | West Coast terminals
Segments of business
Revenue									54,432	48,160	39,952
Pipeline transportation fees | Midwest Terminals
Segments of business
Revenue									1,909	1,851	1,772
Pipeline transportation fees | Brownsville terminals
Segments of business
Revenue									1,610	1,606	1,523
Management fees
Segments of business
Revenue									18,565	18,635
Management fees | Gulf Coast Terminals
Segments of business
Revenue									32	36	284
Management fees | Brownsville terminals
Segments of business
Revenue									5,288	5,787	7,384
Management fees | Southeast terminals
Segments of business
Revenue									947	964	891
Management fees | West Coast terminals
Segments of business
Revenue									38	36	8
Management fees | Central Services
Segments of business
Revenue									$ 12,260	$ 11,812	$ 4,204

FINANCIAL RESULTS BY QUARTER _3

FINANCIAL RESULTS BY QUARTER (UNAUDITED) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Results by Quarter
Revenue	$ 70,766	$ 69,428	$ 68,058	$ 68,841	$ 70,232	$ 66,573	$ 64,969	$ 61,268	$ 277,093	$ 263,042	$ 232,297
Operating costs and expenses	(25,378)	(25,241)	(25,355)	(26,637)	(26,838)	(24,395)	(26,464)	(25,325)	(102,611)	(103,022)	(98,977)
General and administrative expenses	(5,270)	(4,820)	(5,250)	(6,317)	(5,681)	(4,603)	(5,212)	(8,164)	(21,657)	(23,660)	(23,707)
Insurance expenses	(1,227)	(1,258)	(1,280)	(1,208)	(1,176)	(1,240)	(1,218)	(1,361)	(4,973)	(4,995)	(4,976)
Deferred compensation expense	(260)	(309)	(354)	(911)	(839)	(376)	(294)	(799)	(1,834)	(2,308)
Depreciation and amortization	(14,843)	(14,674)	(14,242)	(13,641)	(13,414)	(13,362)	(13,107)	(12,652)	(57,400)	(52,535)	(49,793)
Earnings from unconsolidated affiliates	706	1,789	1,850	2,153	1,053	1,476	1,225	1,140	6,498	4,894	8,852
Gain from insurance proceeds							3,351			3,351
Gain (loss) on disposition of assets											(901)
Operating income	24,494	24,915	23,427	22,280	23,337	24,073	23,250	14,107	95,116	84,767	59,317
Interest expense	(7,341)	(7,435)	(7,204)	(9,214)	(8,539)	(9,107)	(9,708)	(8,842)	(31,194)	(36,196)	(31,900)
Amortization of deferred debt issuance costs	(654)	(650)	(627)	(643)	(640)	(636)	(632)	(749)	(2,574)	(2,657)	(3,037)
Net earnings	$ 16,499	$ 16,830	$ 15,596	$ 12,423	$ 14,158	$ 14,330	$ 12,910	$ 4,516	$ 61,348	$ 45,914	$ 24,380