Transmontaigne Partners (TLP) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2024 shares
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-32505
Entity Registrant Name	TRANSMONTAIGNE PARTNERS LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-2037221
Entity Address, Address Line One	1670 Broadway
Entity Address, Address Line Two	Suite 3100
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	626-8200
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	0
Entity Central Index Key	0001319229
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Consolidated balance sheets (un

Consolidated balance sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 12,051	$ 7,552
Trade accounts receivable	26,281	29,691
Due from affiliates	2,979	3,262
Inventory	14,691	7,259
Other current assets	13,521	13,472
Total current assets	69,523	61,236
Property, plant and equipment, net	823,833	831,671
Goodwill	18,586	18,586
Investments in unconsolidated affiliates	321,858	320,110
Right-of-use assets, operating leases	46,966	48,151
Other assets, net	77,771	58,378
TOTAL ASSETS	1,358,537	1,338,132
Current liabilities:
Trade accounts payable	23,768	19,367
Operating lease liabilities	3,835	3,793
Accrued liabilities	40,009	41,710
Current debt	11,535	10,000
Total current liabilities	79,147	74,870
Deferred revenue	505	602
Long-term operating lease liabilities	45,283	46,296
Long-term debt	1,407,141	1,339,280
Total liabilities	1,532,076	1,461,048
Commitments and contingencies (Note 12)
Equity:
Member interest	(173,539)	(122,916)
Total equity	(173,539)	(122,916)
TOTAL LIABILITIES AND EQUITY	$ 1,358,537	$ 1,338,132

Consolidated statements of oper

Consolidated statements of operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Total revenue	$ 176,373	$ 147,841	$ 342,281	$ 287,585
Costs and expenses:
Cost of product sales	(91,182)	(68,643)	(169,473)	(127,969)
Operating	(32,464)	(29,746)	(65,029)	(61,651)
General and administrative	(7,242)	(7,141)	(16,120)	(15,181)
Insurance	(1,652)	(1,718)	(3,431)	(3,356)
Deferred compensation	(647)	(764)	(2,522)	(2,399)
Depreciation and amortization	(17,852)	(17,569)	(35,514)	(35,522)
Total costs and expenses	(151,039)	(125,581)	(292,089)	(246,078)
Earnings from unconsolidated affiliates	3,318	2,692	7,124	4,641
Operating income	28,652	24,952	57,316	46,148
Other expenses:
Interest expense	(24,045)	(6,824)	(37,085)	(37,978)
Deferred debt issuance costs	(1,158)	(1,041)	(2,199)	(2,113)
Total other expenses	(25,203)	(7,865)	(39,284)	(40,091)
Net earnings	3,449	17,087	18,032	6,057
Terminal revenue
Revenue:
Total revenue	79,236	75,576	161,445	153,891
Product sales
Revenue:
Total revenue	$ 97,137	$ 72,265	$ 180,836	$ 133,694

Consolidated statements of equi

Consolidated statements of equity (unaudited) - USD ($) $ in Thousands	Member interest	Total
Balance at Dec. 31, 2022	$ (13,862)	$ (13,862)
Increase (Decrease) in Partners' Capital
Contributions from parent entities	838	838
Distributions to TLP Finance Holdings, LLC for debt service	(94,906)	(94,906)
Net earnings	6,057	6,057
Balance at Jun. 30, 2023	(101,873)	(101,873)
Balance at Mar. 31, 2023	(110,061)	(110,061)
Increase (Decrease) in Partners' Capital
Contributions from parent entities	419	419
Distributions to TLP Finance Holdings, LLC for debt service	(9,318)	(9,318)
Net earnings	17,087	17,087
Balance at Jun. 30, 2023	(101,873)	(101,873)
Balance at Dec. 31, 2023	(122,916)	(122,916)
Increase (Decrease) in Partners' Capital
Contributions from parent entities	1,358	1,358
Distributions to TLP Finance Holdings, LLC for debt service	(70,013)	(70,013)
Net earnings	18,032	18,032
Balance at Jun. 30, 2024	(173,539)	(173,539)
Balance at Mar. 31, 2024	(141,058)	(141,058)
Increase (Decrease) in Partners' Capital
Contributions from parent entities	387	387
Distributions to TLP Finance Holdings, LLC for debt service	(36,317)	(36,317)
Net earnings	3,449	3,449
Balance at Jun. 30, 2024	$ (173,539)	$ (173,539)

Consolidated statements of cash

Consolidated statements of cash flows (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 3,449	$ 17,087	$ 18,032	$ 6,057
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	17,852	17,569	35,514	35,522
Earnings from unconsolidated affiliates	(3,318)	(2,692)	(7,124)	(4,641)
Distributions from unconsolidated affiliates	2,668	4,152	5,376	7,170
Equity-based compensation	387	419	1,358	838
Amortization of deferred debt issuance costs	1,158	1,012	2,199	2,084
Amortization of deferred revenue	(459)	(574)	(97)	(557)
Unrealized gain on interest rate swap agreements	(1,178)	(17,319)	(12,425)	(9,693)
Changes in operating assets and liabilities:
Trade accounts receivable	(6,565)	(5,108)	3,410	15,734
Due from affiliates	660	(213)	283	537
Inventory	(9,013)	3,287	(7,432)	(39)
Other current assets	(4,418)	2,287	(49)	(3,774)
Right-of-use assets, operating leases	834	850	1,730	1,813
Other assets, net	365	45	434	(11)
Trade accounts payable	(149)	(6,978)	8,013	(7,060)
Accrued liabilities	7,884	6,148	(1,701)	(2,822)
Operating lease liabilities	(591)	(714)	(1,516)	(1,690)
Net cash provided by operating activities	9,566	19,258	46,005	39,468
Cash flows from investing activities:
Investments in unconsolidated affiliates				(500)
Olympic Pipeline Company member loan	(9,000)		(9,000)
Capital expenditures	(12,976)	(11,924)	(29,690)	(24,644)
Proceeds from sale of land				1,118
Net cash used in investing activities	(21,976)	(11,924)	(38,690)	(24,026)
Cash flows from financing activities:
Repayments of senior secured term loans	(2,884)	(2,946)	(5,384)	(5,446)
Proceeds from senior secured term loans	150,000		150,000
Borrowings under revolving credit facility	36,000	61,000	97,000	153,000
Repayments under revolving credit facility	(127,000)	(52,000)	(171,000)	(72,000)
Debt issuance costs	(3,419)		(3,419)
Distributions to TLP Finance Holdings, LLC for debt service	(36,317)	(9,318)	(70,013)	(94,906)
Net cash provided by (used in) financing activities	16,380	(3,264)	(2,816)	(19,352)
Increase (decrease) in cash and cash equivalents	3,970	4,070	4,499	(3,910)
Cash and cash equivalents at beginning of period	8,081	5,036	7,552	13,016
Cash and cash equivalents at end of period	12,051	9,106	12,051	9,106
Supplemental disclosures of cash flow information:
Cash paid for interest	21,063	19,814	49,872	48,504
Property, plant and equipment acquired with accounts payable	5,453	6,619	5,453	6,619
Additions to right-of-use assets obtained from new operating lease liabilities	545	93	545	646
Non-cash contributions from parent entities	$ 387	$ 419	$ 1,358	$ 838

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
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, renewable 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. In addition, we sell refined and renewable products to major fuel producers and marketers in the Pacific Northwest at our terminal in Tacoma, Washington. (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 intercompany 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 June 30, 2024 and December 31, 2023 and our results of operations for the three and six months ended June 30, 2024 and 2023. 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. In management’s opinion, the estimate of useful lives of our plant and equipment are subjective in nature, require the exercise of judgment and involve complex analyses. 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 operations We generate revenue from terminaling services fees, management fees and product sales. Under Topic 606, Revenue from Contracts with Customers Leases and the series of related Accounting Standards Updates that followed (collectively referred to as “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 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 our 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. At the time of contract inception, we evaluate each contract to determine whether the contract contains 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. The remaining firm commitments under our terminaling services agreements not accounted for as lease revenue are accounted for in accordance with ASC 606, 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 14 of Notes to consolidated financial statements). ​ Management fees. 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. Product sales. product sales, which includes product supply and transportation costs, as we are responsible for fulfilling the promise in the sales contract and maintain inventory risk. Product sales revenue is accounted for in accordance with ASC 606. (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) Inventory (f) 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 three and six months ended June 30, 2024 and 2023. (g) 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 three and six months ended June 30, 2024 and 2023. (h) 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, Midwest, Brownsville, Texas, River and Southeast terminals 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. ​ (i) 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. (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 statements of operations. At June 30, 2024 and December 31, 2023, our derivative instruments were limited to interest rate swap agreements. The fair value of our interest rate swap agreements are determined using a pricing model based on applicable swap rates and other observable market data. At June 30, 2024 and December 31, 2023, the fair value of our interest rate swap agreements was approximately $25.4 million and $13.0 million, respectively (See Note 8 of Notes to consolidated financial statements). Pursuant to the terms of the interest rate swap agreements, we pay a blended fixed rate and receive interest payments based on the one-month London Interbank Offered Rate (“LIBOR”) through July 17, 2023, and on the one-month Term Secured Overnight Financing Rate (“SOFR”) or Overnight Indexed Swap (“OIS”) compound SOFR for periods after July 17, 2023. The net difference to be paid or received under the interest rate swap agreements will be settled monthly and recognized as an adjustment to interest expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate ​ Blended Interest rate swap agreement term ​ ​ notional amount ​ fixed rate August 18, 2022 - July 18, 2023 ​ $ 500,000 ​ 2.87 % July 18, 2023 - August 18, 2025 ​ $ 500,000 ​ 2.87 % August 18, 2023 - August 18, 2026 ​ $ 280,000 ​ 3.52 % August 18, 2025 - August 18, 2026 ​ $ 500,000 ​ 3.31 % August 18, 2026 - August 18, 2028 ​ $ 700,000 ​ 3.24 % ​ (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 Reference Rate Reform — Facilitation of the Effects of Reference Rate Reform on Financial Reporting, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 , which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. We do not expect the adoption of this guidance to have an impact on our financial position, results of operations or cash flows In November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures, ​ The Enhancement and Standardization of Climate-Related Disclosures for Investors

TRANSACTIONS WITH AFFILIATES

TRANSACTIONS WITH AFFILIATES	6 Months Ended
	Jun. 30, 2024
TRANSACTIONS WITH AFFILIATES
TRANSACTIONS WITH AFFILIATES	(2) TRANSACTIONS WITH AFFILIATES Operations and reimbursement agreement—Frontera. We have a Terminaling services agreements—Brownsville terminals. Operating and administrative agreement—SeaPort Midstream—Central services. Other affiliates—Central services . million and ​ Services agreement — TransMontaigne Management Company, LLC. ​

CONCENTRATION OF CREDIT RISK AN

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2024
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. Trade accounts receivable consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Trade accounts receivable ​ $ 26,281 ​ $ 29,691 ​ 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ Six months ended ​ ​ June 30, ​ ​ June 30, ​ ​ 2024 2023 ​ 2024 ​ 2023 ​ Customer A ​ 28 % 9 % ​ 27 % 5 % Customer B ​ 6 % 10 % ​ 6 % 9 % ​

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2024
OTHER CURRENT ASSETS
OTHER CURRENT ASSETS	(4) OTHER CURRENT ASSETS Other current assets were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Prepaid insurance ​ $ 5,869 ​ $ 2,093 Amounts due from insurance companies ​ ​ 3,228 ​ ​ 3,099 Additive detergent ​ 2,055 ​ 2,023 Prepaid inventory ​ ​ — ​ ​ 3,831 Deposits and other assets ​ 2,369 ​ 2,426 ​ ​ $ 13,521 ​ $ 13,472 ​ Amounts due from insurance companies. We periodically file claims for recovery of environmental remediation costs and property claims 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. At June 30, 2024 and December 31, 2023, we recognized amounts due from insurance companies of approximately

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2024
PROPERTY, PLANT AND EQUIPMENT, NET
PROPERTY, PLANT AND EQUIPMENT, NET	(5) PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Land ​ $ 104,017 ​ $ 104,017 Terminals, pipelines and equipment ​ 1,407,988 ​ 1,385,923 Furniture, fixtures and equipment ​ 20,187 ​ 19,619 Construction in progress ​ 30,084 ​ 26,639 ​ ​ 1,562,276 ​ 1,536,198 Less accumulated depreciation ​ (738,443) ​ (704,527) ​ ​ $ 823,833 ​ $ 831,671 ​ At June 30, 2024 and December 31, 2023, property, plant and equipment, net utilized by our customers in revenue operating lease arrangements consisted of approximately $551.0 million and $571.3 million, respectively, of terminals, pipelines and equipment. The terminals, pipelines and equipment primarily relates to our storage tanks and associated internal piping.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2024
GOODWILL.
GOODWILL	(6) GOODWILL Goodwill was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Brownsville terminals ​ $ 8,485 ​ $ 8,485 West Coast terminals ​ ​ 10,101 ​ ​ 10,101 ​ ​ $ 18,586 ​ $ 18,586 ​ 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 business segments (See Note 15 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 June 30, 2024 and December 31, 2023, our Brownsville and West Coast terminals contained goodwill. We did not recognize any goodwill impairment charges during the three and six months ended June 30, 2024 or during the year ended December 31, 2023 for these reporting units. 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 or West Coast terminals could result in the recognition of an impairment charge in the future.

INVESTMENTS IN UNCONSOLIDATED A

INVESTMENTS IN UNCONSOLIDATED AFFILIATES	6 Months Ended
	Jun. 30, 2024
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	(7) INVESTMENTS IN UNCONSOLIDATED AFFILIATES At June 30, 2024 and December 31, 2023, our investments in unconsolidated affiliates include a 42.5% Class A ownership interest in Battleground Oil Specialty Terminal Company LLC (“BOSTCO”), a 30% ownership interest in Olympic Pipeline Company, LLC, a 51% ownership interest in SeaPort Midstream and a 50% ownership interest in 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 in BOSTCO 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. Olympic Pipeline Company is a 400-mile interstate refined petroleum products pipeline system running from Blaine, Washington to Portland, Oregon and a refined and renewable products terminal in Bayview, Washington. SeaPort Midstream is two terminal facilities located in Seattle, Washington and Portland, Oregon that encompasses approximately 1.3 million barrels of refined and renewable product storage. 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) ​ ​ June 30, ​ December 31, ​ June 30, ​ December 31, ​ 2024 2023 2024 2023 BOSTCO ​ 42.5 % 42.5 % $ 184,023 ​ $ 186,486 Olympic Pipeline Company ​ 30 % 30 % ​ 83,123 ​ ​ 80,000 SeaPort Midstream ​ 51 % 51 % ​ 33,863 ​ ​ 32,357 Frontera ​ 50 % 50 % 20,849 ​ 21,267 Total investments in unconsolidated affiliates ​ ​ ​ ​ ​ $ 321,858 ​ $ 320,110 ​ At June 30, 2024 and December 31, 2023, our investment in BOSTCO includes approximately $5.8 million and $5.9 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. At June 30, 2024 and December 31, 2023, our investment in Olympic Pipeline Company includes approximately $5.2 million and $5.4 million, respectively, of excess investment related to property, plant and equipment being amortized over the useful life of the assets and approximately $20.2 million of excess investment related to goodwill. Excess investment is the amount by which our investment exceeds our proportionate share of the book value of the net assets of the Olympic Pipeline Company entity. Earnings (loss) from investments in unconsolidated affiliates was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ 763 ​ $ 941 ​ $ 2,765 ​ $ 1,795 Olympic Pipeline Company ​ 1,631 ​ 568 ​ ​ 3,123 ​ ​ 1,283 SeaPort Midstream ​ ​ 927 ​ ​ 1,040 ​ ​ 1,506 ​ ​ 1,435 Frontera ​ (3) ​ 143 ​ ​ (270) ​ ​ 128 Total earnings from investments in unconsolidated affiliates ​ $ 3,318 ​ $ 2,692 ​ $ 7,124 ​ $ 4,641 ​ Additional capital investments in unconsolidated affiliates for the funding of growth projects was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ — ​ $ — ​ $ — ​ $ — Olympic Pipeline Company ​ ​ — ​ ​ — ​ ​ — ​ ​ — SeaPort Midstream ​ ​ — ​ ​ — ​ ​ — ​ ​ — Frontera ​ — ​ — ​ ​ — ​ ​ 500 Additional capital investments in unconsolidated affiliates ​ $ — ​ $ — ​ $ — ​ $ 500 ​ Cash distributions received from unconsolidated affiliates was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ 2,668 ​ $ 3,362 ​ $ 5,228 ​ $ 6,380 Olympic Pipeline Company ​ ​ — ​ ​ 720 ​ ​ — ​ ​ 720 SeaPort Midstream ​ ​ — ​ ​ — ​ ​ — ​ ​ — Frontera ​ — ​ 70 ​ ​ 148 ​ ​ 70 Cash distributions received from unconsolidated affiliates ​ $ 2,668 ​ $ 4,152 ​ $ 5,376 ​ $ 7,170 ​ The summarized combined financial information of our unconsolidated affiliates was as follows (in thousands): Balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Current assets ​ $ 103,682 ​ $ 72,569 Long-term assets ​ 766,044 ​ 768,413 Current liabilities ​ (78,332) ​ (54,977) Long-term liabilities ​ ​ (71,780) ​ ​ (73,647) Net assets ​ $ 719,614 ​ $ 712,358 ​ Statements of income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 ​ 2023 ​ 2024 ​ 2023 Revenue ​ $ 53,526 ​ $ 48,394 ​ $ 108,091 $ 97,325 Expenses ​ (43,899) ​ (42,186) ​ ​ (87,712) ​ (84,782) Net income ​ $ 9,627 ​ $ 6,208 ​ $ 20,379 ​ $ 12,543 ​

OTHER ASSETS, NET

OTHER ASSETS, NET	6 Months Ended
	Jun. 30, 2024
OTHER ASSETS, NET
OTHER ASSETS, NET	(8) OTHER ASSETS, NET Other assets, net was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Customer relationships, net of accumulated amortization of $22,901 and $21,303, respectively ​ $ 42,629 ​ $ 44,227 Unrealized gain on interest rate swap agreements ​ ​ 25,452 ​ ​ 13,027 Olympic Pipeline Company member loan ​ 9,000 ​ — Deposits and other assets ​ 690 ​ 1,124 ​ ​ $ 77,771 ​ $ 58,378 ​ 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 ten Olympic Pipeline Company member loan. We are party to a member loan with Olympic Pipeline Company with a total borrowing capacity of $35 million due December 31, 2027. We are responsible for our proportionate share of 30% of the loan. At June 30, 2024 and December 31, 2023, the total outstanding borrowings under the Olympic Pipeline Company member loan were $30.0 million and $ nil , respectively. Accordingly, we have recorded a loan receivable of approximately $9.0 million and $ nil , respectively, representing our proportionate share of the outstanding borrowings. Olympic Pipeline Company used the proceeds from the member loan to fund a remediation project in 2024.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2024
ACCRUED LIABILITIES
ACCRUED LIABILITIES	(9) ACCRUED LIABILITIES Accrued liabilities were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Customer advances and deposits ​ $ 12,206 ​ $ 11,315 Accrued compensation expense ​ ​ 11,870 ​ ​ 14,375 Interest payable ​ ​ 6,977 ​ ​ 7,070 Accrued property taxes ​ 5,525 ​ 4,619 Accrued Washington State emissions allowances ​ 1,377 ​ 524 Accrued environmental obligations ​ 824 ​ 909 Accrued expenses and other ​ 1,230 ​ 2,898 ​ ​ $ 40,009 ​ $ 41,710 ​ Customer advances and deposits. Customer advances and deposits represents payments received for terminaling services in advance of the terminaling services being provided. Accrued compensation expense. Accrued Washington State emissions allowances. The Washington State Climate Commitment Act (“CCA”), implemented January 1, 2023, was designed to reduce greenhouse gas emissions. Rules implementing the CCA by the Washington Department of Ecology set a cap on greenhouse gas emissions, provide mechanisms for the sale and tracking of tradable emissions allowances, and establish additional compliance and accountability measures. Accrued Washington State emissions allowances represent our obligation under the CCA to obtain emissions allowances obligation at market value, net of allowances purchased and record the associated expense as cost of product sales when certain products are sold at the truck rack at our Tacoma, Washington terminal. Accrued environmental obligations. At June 30, 2024 and December 31, 2023, we have accrued environmental obligations of approximately

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
DEBT
DEBT	(10) DEBT Long-term debt is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Senior secured term loans outstanding ​ $ 1,124,616 ​ $ 980,000 Revolving credit facility outstanding ​ ​ 14,000 ​ ​ 88,000 6.125% senior notes due in 2026 ​ ​ 299,900 ​ ​ 299,900 Unamortized deferred debt issuance costs (1) ​ ​ (19,840) ​ ​ (18,620) Total debt ​ ​ 1,418,676 ​ ​ 1,349,280 Current portion of senior secured term loans ​ ​ (11,535) ​ ​ (10,000) Long-term debt ​ $ 1,407,141 ​ $ 1,339,280 (1) Deferred debt issuance costs are amortized using the effective interest method over the applicable term of the senior secured term loans and senior notes. ​ Credit agreement. Proceeds from the $150 million senior secured term loans were used as follows (in thousands): ​ ​ ​ ​ ​ Repayment of revolving credit facility ​ $ 110,401 Distributions to TLP Finance Holdings, LLC for debt service ​ ​ 36,677 Debt issuance costs ​ ​ 2,922 Proceeds from $150 million senior secured term loans ​ $ 150,000 ​ We may elect to have loans under the Credit Agreement bear interest, at either a Term SOFR plus 0.11448% (subject to a 0.50% floor) plus an applicable margin of 3.50% or an alternate base rate plus an applicable margin of 2.50% per annum. We are also required to pay (i) a letter of credit fee of 3.50% per annum on the aggregate face amount of all outstanding letters of credit, (ii) to the issuing lender of each letter of credit, a fronting fee of no less than 0.125% per annum on the outstanding amount of each such letter of credit and (iii) commitment fees of 0.50% per annum on the daily unused amount of the revolving credit facility, in each case quarterly in arrears. ​ The Credit Agreement contains various covenants, including, but not limited to, limitations on the incurrence of indebtedness, permitted investments, liens on assets, making distributions , transactions with affiliates, mergers, consolidations, dispositions of assets and other provisions customary in similar types of agreements. The Credit Agreement requires compliance with (a) a debt service coverage ratio of no less than 1.1 to 1.0 and (b) if the aggregate outstanding amount of all revolving loans and drawn letters of credit exceeds an amount equal to 35% of the aggregate revolving commitments, a consolidated senior secured net leverage ratio of no greater than 6.75 to 1.00 . We were in compliance with all financial covenants as of and during the three and six months ended June 30, 2024 and the year ended December 31, 2023. ​ Senior notes. operations operations

DEFERRED COMPENSATION EXPENSE

DEFERRED COMPENSATION EXPENSE	6 Months Ended
	Jun. 30, 2024
DEFERRED COMPENSATION EXPENSE.
DEFERRED COMPENSATION EXPENSE	(11) 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. A person will satisfy the age and length of service thresholds of the plan upon the attainment of the earliest of (a) age sixty fifty-five fifty ​ 2023, we recognized approximately $0.4 million of deferred compensation expense in our consolidated statements of operations, non-cash contribution from parent entities in our consolidated statements of equity and non-cash equity-based compensation in our consolidated statements of cash flows related to the class B units. For the six months ended June 30, 2024 and 2023, we recognized approximately $1.4 million and $0.8 million, respectively, of deferred compensation expense in our consolidated statements of operations, non-cash contribution from parent entities in our consolidated statements of equity and non-cash equity-based compensation in our consolidated statements of cash flows related to the class B units. ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	(12) COMMITMENTS AND CONTINGENCIES Lessee operating lease commitments. ​ Operating right-of-use assets and operating lease liabilities are recognized based on the present value of the lease payments over the lease term at commencement date. The additions to right-of-use assets obtained from new operating lease liabilities are treated as non-cash transactions that do not impact the consolidated statements of cash flows. 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 debt agreements. The terms of our corporate offices, vehicles and land leases are in line with the Credit Agreement, 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. During the three and six months ended June 30, 2024 and 2023, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Operating leases ​ $ 1,384 ​ $ 1,431 ​ $ 2,832 ​ $ 2,853 Variable lease costs (including insignificant short-term leases) ​ ​ 412 ​ ​ 356 ​ ​ 883 ​ ​ 764 Sublease income as primary obligor ​ ​ (275) ​ ​ (271) ​ ​ (552) ​ ​ (541) Total lease costs ​ $ 1,521 ​ $ 1,516 ​ $ 3,163 ​ $ 3,076 ​ Other information related to our operating leases was as follows (in thousands, except lease term and discount rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 ​ 2023 Cash outflows for operating leases ​ $ 1,141 ​ $ 1,295 ​ $ 2,619 ​ $ 2,730 Weighted average remaining lease term (years) ​ ​ 27.85 ​ ​ 27.81 ​ ​ 27.85 ​ ​ 27.81 Weighted average discount rate ​ ​ 4.5% ​ ​ 4.5% ​ ​ 4.5% ​ ​ 4.5% ​ Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of June 30, 2024 and related imputed interest was as follows (in thousands): ​ ​ ​ ​ Years ending December 31: ​ ​ ​ 2024 (remainder of the year) ​ $ 2,967 2025 ​ 5,228 2026 ​ 3,914 2027 ​ 3,709 2028 ​ 3,264 Thereafter ​ 66,613 Total lease payments ​ ​ 85,695 Less imputed interest ​ ​ (36,577) Present value of operating lease liabilities ​ $ 49,118 ​ Contract commitments. Legal proceedings .

DISCLOSURES ABOUT FAIR VALUE

DISCLOSURES ABOUT FAIR VALUE	6 Months Ended
	Jun. 30, 2024
DISCLOSURES ABOUT FAIR VALUE
DISCLOSURES ABOUT FAIR VALUE	(13) 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. There were no transfers into or out of Levels 1, 2, and 3 during the three and six months ended June 30, 2024 and 2023. The following methods and assumptions were used to estimate the fair value of financial instruments at June 30, 2024 and December 31, 2023. 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 applicable swap rates and other observable market data. The fair value is categorized in Level 2 of the fair value hierarchy. Debt. Non-financial assets.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2024
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	(14) 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Terminaling services fees: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm commitments (ASC 842 revenue) ​ $ 46,286 ​ $ 46,080 ​ $ 93,580 ​ $ 92,694 Firm commitments (ASC 606 revenue) ​ ​ 12,036 ​ ​ 10,444 ​ ​ 24,712 ​ ​ 20,800 Total firm commitments revenue ​ ​ 58,322 ​ ​ 56,524 ​ ​ 118,292 ​ ​ 113,494 Ancillary revenue (ASC 606 revenue) ​ 16,427 ​ 14,911 ​ 33,791 ​ 31,310 Ancillary revenue (ASC 842 revenue) ​ 899 ​ 638 ​ 1,380 ​ 1,498 Total ancillary revenue ​ 17,326 ​ 15,549 ​ 35,171 ​ 32,808 Total terminaling services fees ​ 75,648 ​ 72,073 ​ 153,463 ​ 146,302 Management fees (ASC 606 revenue) ​ 3,227 ​ 3,125 ​ 7,234 ​ 6,846 Management fees (ASC 842 revenue) ​ 361 ​ 378 ​ 748 ​ 743 Total management fees ​ 3,588 ​ 3,503 ​ 7,982 ​ 7,589 Product sales (ASC 606 revenue) ​ 97,137 ​ 72,265 ​ 180,836 ​ 133,694 Total revenue ​ $ 176,373 ​ $ 147,841 ​ $ 342,281 ​ $ 287,585 ​ 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 2024 (remainder of the year) ​ $ 2,581 ​ $ 494 ​ $ 1,175 ​ $ — ​ $ 9,057 ​ $ 11,459 ​ $ — ​ $ 24,766 2025 ​ ​ 2,551 ​ ​ 195 ​ ​ 2,350 ​ ​ — ​ ​ 13,056 ​ ​ 16,724 ​ ​ — ​ ​ 34,876 2026 ​ ​ 1,996 ​ ​ — ​ ​ 392 ​ ​ — ​ ​ 10,003 ​ ​ 11,110 ​ ​ — ​ ​ 23,501 2027 ​ ​ 1,414 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,109 ​ ​ 1,318 ​ ​ — ​ ​ 8,841 2028 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Thereafter ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total estimated future ASC 606 revenue ​ $ 8,542 ​ $ 689 ​ $ 3,917 ​ $ — ​ $ 38,225 ​ $ 40,611 ​ $ — ​ $ 91,984 ​ 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 June 30, 2024 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: ​ ​ ​ 2024 (remainder of the year) ​ $ 92,905 2025 ​ 146,199 2026 ​ 69,762 2027 ​ 26,925 2028 ​ 13,482 Thereafter ​ ​ 30,869 Total estimated future ASC 842 revenue ​ $ 380,142 ​ BALANCE SHEET DISCLOSURES Contract assets. Our contract assets are limited to trade accounts receivable. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts under ​ ​ ​ ASC 606 ​ ASC 842 ​ Total Trade accounts receivable at December 31, 2023 ​ $ 21,008 ​ $ 8,683 ​ $ 29,691 Trade accounts receivable at June 30, 2024 ​ $ 18,932 ​ $ 7,349 ​ $ 26,281 ​ Contract liabilities. Our contract liabilities include deferred revenue and customer advances and deposits. 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 on a straight-line basis over the term of the respective agreements. In addition, pursuant to certain agreements with our customers, we agreed to undertake certain capital projects. Upon completion of the projects, our customers have paid us amounts that will be recognized as revenue on a straight-line basis over the remaining term of the agreements. Collectively, the differences between amounts billed and revenue recognized under ASC 606 and ASC 842 are recorded as contract liabilities. These liabilities are presented as deferred revenue in our consolidated balance sheets. We record customer advances and deposits when payments are received from customers in advance of the terminaling services being provided, resulting in a contract liability accounted for under ASC 606 and ASC 842. This liability is presented as accrued liabilities in our consolidated balance sheets (See Note 9 of Notes to consolidated financial statements). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts under ​ ​ ​ ASC 606 ​ ASC 842 ​ Total Contract liabilities at December 31, 2023 ​ $ 1,519 ​ $ 10,398 ​ $ 11,917 Contract liabilities at June 30, 2024 ​ $ 2,347 ​ $ 10,364 ​ $ 12,711 ​

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 30, 2024
BUSINESS SEGMENTS
BUSINESS SEGMENTS	(15) 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. In addition, we sell refined and renewable products to major fuel producers and marketers in the Pacific Northwest at our terminal in Tacoma, Washington. 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 cost of product sales and 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 Frontera, (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. In addition, Central services represent the cost of employees at standalone affiliate terminals that we operate or manage. We receive a fee from these affiliates based on our costs incurred. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Six months ended ​ ​ June 30, June 30, ​ 2024 2023 2024 2023 Gulf Coast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ $ 21,538 ​ $ 21,349 ​ $ 44,102 ​ $ 43,342 Management fees ​ 25 ​ 18 ​ 43 ​ ​ 33 Revenue ​ 21,563 ​ 21,367 ​ 44,145 ​ ​ 43,375 Operating costs and expenses ​ (6,072) ​ (5,503) ​ (12,642) ​ ​ (11,557) Net margins ​ 15,491 ​ 15,864 ​ 31,503 ​ ​ 31,818 Midwest Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 2,837 ​ 2,457 ​ 5,686 ​ ​ 5,671 Revenue ​ 2,837 ​ 2,457 ​ 5,686 ​ ​ 5,671 Operating costs and expenses ​ (393) ​ (461) ​ (889) ​ ​ (958) Net margins ​ 2,444 ​ 1,996 ​ 4,797 ​ ​ 4,713 Brownsville Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 4,633 ​ 4,769 ​ 9,174 ​ ​ 9,613 Management fees ​ 1,432 ​ 1,449 ​ 3,177 ​ ​ 3,075 Revenue ​ 6,065 ​ 6,218 ​ 12,351 ​ ​ 12,688 Operating costs and expenses ​ (2,940) ​ (2,436) ​ (5,521) ​ ​ (5,028) Net margins ​ 3,125 ​ 3,782 ​ 6,830 ​ ​ 7,660 River Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 3,742 ​ 3,666 ​ 7,299 ​ ​ 7,161 Revenue ​ 3,742 ​ 3,666 ​ 7,299 ​ ​ 7,161 Operating costs and expenses ​ (1,747) ​ (1,759) ​ (3,498) ​ ​ (3,481) Net margins ​ 1,995 ​ 1,907 ​ 3,801 ​ ​ 3,680 Southeast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 17,771 ​ 16,717 ​ 37,264 ​ ​ 33,851 Management fees ​ 212 ​ 276 ​ 446 ​ ​ 567 Revenue ​ 17,983 ​ 16,993 ​ 37,710 ​ ​ 34,418 Operating costs and expenses ​ (6,849) ​ (5,999) ​ (13,930) ​ ​ (12,180) Net margins ​ 11,134 ​ 10,994 ​ 23,780 ​ ​ 22,238 West Coast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product sales ​ 97,137 ​ 72,265 ​ 180,836 ​ ​ 133,694 Terminaling services fees ​ 25,127 ​ 23,115 ​ 49,938 ​ ​ 46,664 Management fees ​ 6 ​ 11 ​ 6 ​ ​ 22 Revenue ​ 122,270 ​ 95,391 ​ 230,780 ​ ​ 180,380 Cost of product sales ​ (91,182) ​ (68,643) ​ (169,473) ​ ​ (127,969) Operating costs and expenses ​ (10,106) ​ (9,065) ​ (19,770) ​ ​ (19,069) Costs and expenses ​ ​ (101,288) ​ ​ (77,708) ​ ​ (189,243) ​ ​ (147,038) Net margins ​ 20,982 ​ 17,683 ​ 41,537 ​ ​ 33,342 Central Services: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management fees ​ 1,913 ​ 1,749 ​ 4,310 ​ ​ 3,892 Revenue ​ ​ 1,913 ​ ​ 1,749 ​ ​ 4,310 ​ ​ 3,892 Operating costs and expenses ​ (4,357) ​ (4,523) ​ (8,779) ​ ​ (9,378) Net margins ​ (2,444) ​ (2,774) ​ (4,469) ​ ​ (5,486) Total net margins ​ 52,727 ​ ​ 49,452 ​ ​ 107,779 ​ ​ 97,965 General and administrative ​ (7,242) ​ (7,141) ​ (16,120) ​ ​ (15,181) Insurance ​ (1,652) ​ (1,718) ​ (3,431) ​ ​ (3,356) Deferred compensation ​ (647) ​ (764) ​ (2,522) ​ ​ (2,399) Depreciation and amortization ​ ​ (17,852) ​ ​ (17,569) ​ ​ (35,514) ​ ​ (35,522) Earnings from unconsolidated affiliates ​ 3,318 ​ 2,692 ​ 7,124 ​ ​ 4,641 Operating income ​ 28,652 ​ 24,952 ​ 57,316 ​ ​ 46,148 Other expenses (interest and deferred debt issuance costs) ​ (25,203) ​ (7,865) ​ ​ (39,284) ​ ​ (40,091) Net earnings ​ $ 3,449 ​ $ 17,087 ​ $ 18,032 ​ $ 6,057 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 21,563 ​ $ 2,837 ​ $ 6,065 ​ $ 3,742 ​ $ 17,983 ​ $ 25,133 ​ $ 1,913 ​ $ 79,236 Product sales ​ — ​ — ​ — ​ — ​ — ​ 97,137 ​ — ​ 97,137 Total revenue ​ $ 21,563 ​ $ 2,837 ​ $ 6,065 ​ $ 3,742 ​ $ 17,983 ​ $ 122,270 ​ $ 1,913 ​ $ 176,373 Capital expenditures ​ $ 3,236 ​ $ — ​ $ 1,001 ​ $ 304 ​ $ 2,548 ​ $ 5,389 ​ $ 498 ​ $ 12,976 Identifiable assets ​ $ 142,850 ​ $ 13,903 ​ $ 105,795 ​ $ 42,321 ​ $ 225,120 ​ $ 443,390 ​ $ 9,674 ​ $ 983,053 Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,051 Investments in unconsolidated affiliates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 321,858 Unrealized gain on interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 25,452 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,123 Total assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,358,537 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 21,367 ​ $ 2,457 ​ $ 6,218 ​ $ 3,666 ​ $ 16,993 ​ $ 23,126 ​ $ 1,749 ​ $ 75,576 Product sales ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 72,265 ​ — ​ 72,265 Total revenue ​ $ 21,367 ​ $ 2,457 ​ $ 6,218 ​ $ 3,666 ​ $ 16,993 ​ $ 95,391 ​ $ 1,749 ​ $ 147,841 Capital expenditures ​ $ 2,193 ​ $ 58 ​ $ 472 ​ $ 951 ​ $ 4,011 ​ $ 3,794 ​ $ 445 ​ $ 11,924 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 44,145 ​ $ 5,686 ​ $ 12,351 ​ $ 7,299 ​ $ 37,710 ​ $ 49,944 ​ $ 4,310 ​ $ 161,445 Product sales ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 180,836 ​ — ​ ​ 180,836 Total revenue ​ $ 44,145 ​ $ 5,686 ​ $ 12,351 ​ $ 7,299 ​ $ 37,710 ​ $ 230,780 ​ $ 4,310 ​ $ 342,281 Capital expenditures ​ $ 7,238 ​ $ 162 ​ $ 1,842 ​ $ 809 ​ $ 5,803 ​ $ 13,045 ​ $ 791 ​ $ 29,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 43,375 ​ $ 5,671 ​ $ 12,688 ​ $ 7,161 ​ $ 34,418 ​ $ 46,686 ​ $ 3,892 ​ $ 153,891 Product sales ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 133,694 ​ — ​ ​ 133,694 Total revenue ​ $ 43,375 ​ $ 5,671 ​ $ 12,688 ​ $ 7,161 ​ $ 34,418 ​ $ 180,380 ​ $ 3,892 ​ $ 287,585 Capital expenditures ​ $ 4,333 ​ $ 58 ​ $ 1,689 ​ $ 1,817 ​ $ 7,786 ​ $ 8,375 ​ $ 586 ​ $ 24,644 ​ ​

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2024
SUBSEQUENT EVENT
SUBSEQUENT EVENT	(16) SUBSEQUENT EVENT 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)	6 Months Ended
	Jun. 30, 2024
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, renewable 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. In addition, we sell refined and renewable products to major fuel producers and marketers in the Pacific Northwest at our terminal in Tacoma, Washington.
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 intercompany 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 June 30, 2024 and December 31, 2023 and our results of operations for the three and six months ended June 30, 2024 and 2023. 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. In management’s opinion, the estimate of useful lives of our plant and equipment are subjective in nature, require the exercise of judgment and involve complex analyses. 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 operations	(c) Accounting for terminal operations We generate revenue from terminaling services fees, management fees and product sales. Under Topic 606, Revenue from Contracts with Customers Leases and the series of related Accounting Standards Updates that followed (collectively referred to as “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 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 our 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. At the time of contract inception, we evaluate each contract to determine whether the contract contains 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. The remaining firm commitments under our terminaling services agreements not accounted for as lease revenue are accounted for in accordance with ASC 606, 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 14 of Notes to consolidated financial statements). ​ Management fees. 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. Product sales. product sales, which includes product supply and transportation costs, as we are responsible for fulfilling the promise in the sales contract and maintain inventory risk. Product sales revenue is accounted for in accordance with ASC 606.
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.
Inventory	(e) Inventory
Property, plant and equipment	(f) 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 three and six months ended June 30, 2024 and 2023.
Investments in unconsolidated affiliates	(g) 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 three and six months ended June 30, 2024 and 2023.
Environmental obligations	(h) 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, Midwest, Brownsville, Texas, River and Southeast terminals 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.
Asset retirement obligations	(i) 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.
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 statements of operations. At June 30, 2024 and December 31, 2023, our derivative instruments were limited to interest rate swap agreements. The fair value of our interest rate swap agreements are determined using a pricing model based on applicable swap rates and other observable market data. At June 30, 2024 and December 31, 2023, the fair value of our interest rate swap agreements was approximately $25.4 million and $13.0 million, respectively (See Note 8 of Notes to consolidated financial statements). Pursuant to the terms of the interest rate swap agreements, we pay a blended fixed rate and receive interest payments based on the one-month London Interbank Offered Rate (“LIBOR”) through July 17, 2023, and on the one-month Term Secured Overnight Financing Rate (“SOFR”) or Overnight Indexed Swap (“OIS”) compound SOFR for periods after July 17, 2023. The net difference to be paid or received under the interest rate swap agreements will be settled monthly and recognized as an adjustment to interest expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate ​ Blended Interest rate swap agreement term ​ ​ notional amount ​ fixed rate August 18, 2022 - July 18, 2023 ​ $ 500,000 ​ 2.87 % July 18, 2023 - August 18, 2025 ​ $ 500,000 ​ 2.87 % August 18, 2023 - August 18, 2026 ​ $ 280,000 ​ 3.52 % August 18, 2025 - August 18, 2026 ​ $ 500,000 ​ 3.31 % August 18, 2026 - August 18, 2028 ​ $ 700,000 ​ 3.24 %
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 Reference Rate Reform — Facilitation of the Effects of Reference Rate Reform on Financial Reporting, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 , which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. We do not expect the adoption of this guidance to have an impact on our financial position, results of operations or cash flows In November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures, ​ The Enhancement and Standardization of Climate-Related Disclosures for Investors

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of interest rate swap agreements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate ​ Blended Interest rate swap agreement term ​ ​ notional amount ​ fixed rate August 18, 2022 - July 18, 2023 ​ $ 500,000 ​ 2.87 % July 18, 2023 - August 18, 2025 ​ $ 500,000 ​ 2.87 % August 18, 2023 - August 18, 2026 ​ $ 280,000 ​ 3.52 % August 18, 2025 - August 18, 2026 ​ $ 500,000 ​ 3.31 % August 18, 2026 - August 18, 2028 ​ $ 700,000 ​ 3.24 %

CONCENTRATION OF CREDIT RISK _2

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2024
CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE
Schedule of trade accounts receivable (in thousands)	Trade accounts receivable consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Trade accounts receivable ​ $ 26,281 ​ $ 29,691
Schedule of customers accounting for at least 10% of consolidated revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ Six months ended ​ ​ June 30, ​ ​ June 30, ​ ​ 2024 2023 ​ 2024 ​ 2023 ​ Customer A ​ 28 % 9 % ​ 27 % 5 % Customer B ​ 6 % 10 % ​ 6 % 9 % ​

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
OTHER CURRENT ASSETS
Schedule of other current assets (in thousands)	Other current assets were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Prepaid insurance ​ $ 5,869 ​ $ 2,093 Amounts due from insurance companies ​ ​ 3,228 ​ ​ 3,099 Additive detergent ​ 2,055 ​ 2,023 Prepaid inventory ​ ​ — ​ ​ 3,831 Deposits and other assets ​ 2,369 ​ 2,426 ​ ​ $ 13,521 ​ $ 13,472

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2024
PROPERTY, PLANT AND EQUIPMENT, NET
Schedule of property, plant and equipment, net (in thousands)	Property, plant and equipment, net was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Land ​ $ 104,017 ​ $ 104,017 Terminals, pipelines and equipment ​ 1,407,988 ​ 1,385,923 Furniture, fixtures and equipment ​ 20,187 ​ 19,619 Construction in progress ​ 30,084 ​ 26,639 ​ ​ 1,562,276 ​ 1,536,198 Less accumulated depreciation ​ (738,443) ​ (704,527) ​ ​ $ 823,833 ​ $ 831,671

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2024
GOODWILL.
Schedule of goodwill (in thousands)	Goodwill was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Brownsville terminals ​ $ 8,485 ​ $ 8,485 West Coast terminals ​ ​ 10,101 ​ ​ 10,101 ​ ​ $ 18,586 ​ $ 18,586

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)	6 Months Ended
	Jun. 30, 2024
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Summary of investments in unconsolidated affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage of ​ Carrying value ​ ​ ownership ​ (in thousands) ​ ​ June 30, ​ December 31, ​ June 30, ​ December 31, ​ 2024 2023 2024 2023 BOSTCO ​ 42.5 % 42.5 % $ 184,023 ​ $ 186,486 Olympic Pipeline Company ​ 30 % 30 % ​ 83,123 ​ ​ 80,000 SeaPort Midstream ​ 51 % 51 % ​ 33,863 ​ ​ 32,357 Frontera ​ 50 % 50 % 20,849 ​ 21,267 Total investments in unconsolidated affiliates ​ ​ ​ ​ ​ $ 321,858 ​ $ 320,110
Schedule of earnings (loss) from investments in unconsolidated affiliates (in thousands)	Earnings (loss) from investments in unconsolidated affiliates was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ 763 ​ $ 941 ​ $ 2,765 ​ $ 1,795 Olympic Pipeline Company ​ 1,631 ​ 568 ​ ​ 3,123 ​ ​ 1,283 SeaPort Midstream ​ ​ 927 ​ ​ 1,040 ​ ​ 1,506 ​ ​ 1,435 Frontera ​ (3) ​ 143 ​ ​ (270) ​ ​ 128 Total earnings from investments in unconsolidated affiliates ​ $ 3,318 ​ $ 2,692 ​ $ 7,124 ​ $ 4,641
Schedule of additional capital investments in unconsolidated affiliates (in thousands)	Additional capital investments in unconsolidated affiliates for the funding of growth projects was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ — ​ $ — ​ $ — ​ $ — Olympic Pipeline Company ​ ​ — ​ ​ — ​ ​ — ​ ​ — SeaPort Midstream ​ ​ — ​ ​ — ​ ​ — ​ ​ — Frontera ​ — ​ — ​ ​ — ​ ​ 500 Additional capital investments in unconsolidated affiliates ​ $ — ​ $ — ​ $ — ​ $ 500
Schedule of cash distributions received from unconsolidated affiliates (in thousands)	Cash distributions received from unconsolidated affiliates was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 BOSTCO ​ $ 2,668 ​ $ 3,362 ​ $ 5,228 ​ $ 6,380 Olympic Pipeline Company ​ ​ — ​ ​ 720 ​ ​ — ​ ​ 720 SeaPort Midstream ​ ​ — ​ ​ — ​ ​ — ​ ​ — Frontera ​ — ​ 70 ​ ​ 148 ​ ​ 70 Cash distributions received from unconsolidated affiliates ​ $ 2,668 ​ $ 4,152 ​ $ 5,376 ​ $ 7,170
Summary of financial information of unconsolidated affiliates (in thousands)	The summarized combined financial information of our unconsolidated affiliates was as follows (in thousands): Balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2024 ​ 2023 Current assets ​ $ 103,682 ​ $ 72,569 Long-term assets ​ 766,044 ​ 768,413 Current liabilities ​ (78,332) ​ (54,977) Long-term liabilities ​ ​ (71,780) ​ ​ (73,647) Net assets ​ $ 719,614 ​ $ 712,358 ​ Statements of income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 ​ 2023 ​ 2024 ​ 2023 Revenue ​ $ 53,526 ​ $ 48,394 ​ $ 108,091 $ 97,325 Expenses ​ (43,899) ​ (42,186) ​ ​ (87,712) ​ (84,782) Net income ​ $ 9,627 ​ $ 6,208 ​ $ 20,379 ​ $ 12,543 ​

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2024
OTHER ASSETS, NET
Schedule of other assets, net (in thousands)	Other assets, net was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Customer relationships, net of accumulated amortization of $22,901 and $21,303, respectively ​ $ 42,629 ​ $ 44,227 Unrealized gain on interest rate swap agreements ​ ​ 25,452 ​ ​ 13,027 Olympic Pipeline Company member loan ​ 9,000 ​ — Deposits and other assets ​ 690 ​ 1,124 ​ ​ $ 77,771 ​ $ 58,378

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
ACCRUED LIABILITIES
Schedule of accrued liabilities (in thousands)	Accrued liabilities were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Customer advances and deposits ​ $ 12,206 ​ $ 11,315 Accrued compensation expense ​ ​ 11,870 ​ ​ 14,375 Interest payable ​ ​ 6,977 ​ ​ 7,070 Accrued property taxes ​ 5,525 ​ 4,619 Accrued Washington State emissions allowances ​ 1,377 ​ 524 Accrued environmental obligations ​ 824 ​ 909 Accrued expenses and other ​ 1,230 ​ 2,898 ​ ​ $ 40,009 ​ $ 41,710

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
DEBT
Summary of debt (in thousands)	Long-term debt is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2024 ​ 2023 Senior secured term loans outstanding ​ $ 1,124,616 ​ $ 980,000 Revolving credit facility outstanding ​ ​ 14,000 ​ ​ 88,000 6.125% senior notes due in 2026 ​ ​ 299,900 ​ ​ 299,900 Unamortized deferred debt issuance costs (1) ​ ​ (19,840) ​ ​ (18,620) Total debt ​ ​ 1,418,676 ​ ​ 1,349,280 Current portion of senior secured term loans ​ ​ (11,535) ​ ​ (10,000) Long-term debt ​ $ 1,407,141 ​ $ 1,339,280 (1) Deferred debt issuance costs are amortized using the effective interest method over the applicable term of the senior secured term loans and senior notes.
Schedule of proceeds from senior secured term loan (in thousands)	Proceeds from the $150 million senior secured term loans were used as follows (in thousands): ​ ​ ​ ​ ​ Repayment of revolving credit facility ​ $ 110,401 Distributions to TLP Finance Holdings, LLC for debt service ​ ​ 36,677 Debt issuance costs ​ ​ 2,922 Proceeds from $150 million senior secured term loans ​ $ 150,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES
Schedule of lease cost and other information	Following are components of our lease costs (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Operating leases ​ $ 1,384 ​ $ 1,431 ​ $ 2,832 ​ $ 2,853 Variable lease costs (including insignificant short-term leases) ​ ​ 412 ​ ​ 356 ​ ​ 883 ​ ​ 764 Sublease income as primary obligor ​ ​ (275) ​ ​ (271) ​ ​ (552) ​ ​ (541) Total lease costs ​ $ 1,521 ​ $ 1,516 ​ $ 3,163 ​ $ 3,076 ​ Other information related to our operating leases was as follows (in thousands, except lease term and discount rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 ​ 2023 Cash outflows for operating leases ​ $ 1,141 ​ $ 1,295 ​ $ 2,619 ​ $ 2,730 Weighted average remaining lease term (years) ​ ​ 27.85 ​ ​ 27.81 ​ ​ 27.85 ​ ​ 27.81 Weighted average discount rate ​ ​ 4.5% ​ ​ 4.5% ​ ​ 4.5% ​ ​ 4.5%
Schedule of future minimum lease payments	Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of June 30, 2024 and related imputed interest was as follows (in thousands): ​ ​ ​ ​ Years ending December 31: ​ ​ ​ 2024 (remainder of the year) ​ $ 2,967 2025 ​ 5,228 2026 ​ 3,914 2027 ​ 3,709 2028 ​ 3,264 Thereafter ​ 66,613 Total lease payments ​ ​ 85,695 Less imputed interest ​ ​ (36,577) Present value of operating lease liabilities ​ $ 49,118

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2024
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ ​ June 30, ​ June 30, ​ 2024 2023 2024 2023 Terminaling services fees: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Firm commitments (ASC 842 revenue) ​ $ 46,286 ​ $ 46,080 ​ $ 93,580 ​ $ 92,694 Firm commitments (ASC 606 revenue) ​ ​ 12,036 ​ ​ 10,444 ​ ​ 24,712 ​ ​ 20,800 Total firm commitments revenue ​ ​ 58,322 ​ ​ 56,524 ​ ​ 118,292 ​ ​ 113,494 Ancillary revenue (ASC 606 revenue) ​ 16,427 ​ 14,911 ​ 33,791 ​ 31,310 Ancillary revenue (ASC 842 revenue) ​ 899 ​ 638 ​ 1,380 ​ 1,498 Total ancillary revenue ​ 17,326 ​ 15,549 ​ 35,171 ​ 32,808 Total terminaling services fees ​ 75,648 ​ 72,073 ​ 153,463 ​ 146,302 Management fees (ASC 606 revenue) ​ 3,227 ​ 3,125 ​ 7,234 ​ 6,846 Management fees (ASC 842 revenue) ​ 361 ​ 378 ​ 748 ​ 743 Total management fees ​ 3,588 ​ 3,503 ​ 7,982 ​ 7,589 Product sales (ASC 606 revenue) ​ 97,137 ​ 72,265 ​ 180,836 ​ 133,694 Total revenue ​ $ 176,373 ​ $ 147,841 ​ $ 342,281 ​ $ 287,585
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 2024 (remainder of the year) ​ $ 2,581 ​ $ 494 ​ $ 1,175 ​ $ — ​ $ 9,057 ​ $ 11,459 ​ $ — ​ $ 24,766 2025 ​ ​ 2,551 ​ ​ 195 ​ ​ 2,350 ​ ​ — ​ ​ 13,056 ​ ​ 16,724 ​ ​ — ​ ​ 34,876 2026 ​ ​ 1,996 ​ ​ — ​ ​ 392 ​ ​ — ​ ​ 10,003 ​ ​ 11,110 ​ ​ — ​ ​ 23,501 2027 ​ ​ 1,414 ​ ​ — ​ ​ — ​ ​ — ​ ​ 6,109 ​ ​ 1,318 ​ ​ — ​ ​ 8,841 2028 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Thereafter ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total estimated future ASC 606 revenue ​ $ 8,542 ​ $ 689 ​ $ 3,917 ​ $ — ​ $ 38,225 ​ $ 40,611 ​ $ — ​ $ 91,984
Schedule of estimated future ASC 842 revenue (in thousands)	​ ​ ​ ​ Years ending December 31: ​ ​ ​ 2024 (remainder of the year) ​ $ 92,905 2025 ​ 146,199 2026 ​ 69,762 2027 ​ 26,925 2028 ​ 13,482 Thereafter ​ ​ 30,869 Total estimated future ASC 842 revenue ​ $ 380,142
Schedule of trade accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts under ​ ​ ​ ASC 606 ​ ASC 842 ​ Total Trade accounts receivable at December 31, 2023 ​ $ 21,008 ​ $ 8,683 ​ $ 29,691 Trade accounts receivable at June 30, 2024 ​ $ 18,932 ​ $ 7,349 ​ $ 26,281
Schedule of changes in contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contracts under ​ ​ ​ ASC 606 ​ ASC 842 ​ Total Contract liabilities at December 31, 2023 ​ $ 1,519 ​ $ 10,398 ​ $ 11,917 Contract liabilities at June 30, 2024 ​ $ 2,347 ​ $ 10,364 ​ $ 12,711

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
BUSINESS SEGMENTS
Schedule of information related to financial performance of business segments (in thousands)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Six months ended ​ ​ June 30, June 30, ​ 2024 2023 2024 2023 Gulf Coast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ $ 21,538 ​ $ 21,349 ​ $ 44,102 ​ $ 43,342 Management fees ​ 25 ​ 18 ​ 43 ​ ​ 33 Revenue ​ 21,563 ​ 21,367 ​ 44,145 ​ ​ 43,375 Operating costs and expenses ​ (6,072) ​ (5,503) ​ (12,642) ​ ​ (11,557) Net margins ​ 15,491 ​ 15,864 ​ 31,503 ​ ​ 31,818 Midwest Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 2,837 ​ 2,457 ​ 5,686 ​ ​ 5,671 Revenue ​ 2,837 ​ 2,457 ​ 5,686 ​ ​ 5,671 Operating costs and expenses ​ (393) ​ (461) ​ (889) ​ ​ (958) Net margins ​ 2,444 ​ 1,996 ​ 4,797 ​ ​ 4,713 Brownsville Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 4,633 ​ 4,769 ​ 9,174 ​ ​ 9,613 Management fees ​ 1,432 ​ 1,449 ​ 3,177 ​ ​ 3,075 Revenue ​ 6,065 ​ 6,218 ​ 12,351 ​ ​ 12,688 Operating costs and expenses ​ (2,940) ​ (2,436) ​ (5,521) ​ ​ (5,028) Net margins ​ 3,125 ​ 3,782 ​ 6,830 ​ ​ 7,660 River Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 3,742 ​ 3,666 ​ 7,299 ​ ​ 7,161 Revenue ​ 3,742 ​ 3,666 ​ 7,299 ​ ​ 7,161 Operating costs and expenses ​ (1,747) ​ (1,759) ​ (3,498) ​ ​ (3,481) Net margins ​ 1,995 ​ 1,907 ​ 3,801 ​ ​ 3,680 Southeast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminaling services fees ​ 17,771 ​ 16,717 ​ 37,264 ​ ​ 33,851 Management fees ​ 212 ​ 276 ​ 446 ​ ​ 567 Revenue ​ 17,983 ​ 16,993 ​ 37,710 ​ ​ 34,418 Operating costs and expenses ​ (6,849) ​ (5,999) ​ (13,930) ​ ​ (12,180) Net margins ​ 11,134 ​ 10,994 ​ 23,780 ​ ​ 22,238 West Coast Terminals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product sales ​ 97,137 ​ 72,265 ​ 180,836 ​ ​ 133,694 Terminaling services fees ​ 25,127 ​ 23,115 ​ 49,938 ​ ​ 46,664 Management fees ​ 6 ​ 11 ​ 6 ​ ​ 22 Revenue ​ 122,270 ​ 95,391 ​ 230,780 ​ ​ 180,380 Cost of product sales ​ (91,182) ​ (68,643) ​ (169,473) ​ ​ (127,969) Operating costs and expenses ​ (10,106) ​ (9,065) ​ (19,770) ​ ​ (19,069) Costs and expenses ​ ​ (101,288) ​ ​ (77,708) ​ ​ (189,243) ​ ​ (147,038) Net margins ​ 20,982 ​ 17,683 ​ 41,537 ​ ​ 33,342 Central Services: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management fees ​ 1,913 ​ 1,749 ​ 4,310 ​ ​ 3,892 Revenue ​ ​ 1,913 ​ ​ 1,749 ​ ​ 4,310 ​ ​ 3,892 Operating costs and expenses ​ (4,357) ​ (4,523) ​ (8,779) ​ ​ (9,378) Net margins ​ (2,444) ​ (2,774) ​ (4,469) ​ ​ (5,486) Total net margins ​ 52,727 ​ ​ 49,452 ​ ​ 107,779 ​ ​ 97,965 General and administrative ​ (7,242) ​ (7,141) ​ (16,120) ​ ​ (15,181) Insurance ​ (1,652) ​ (1,718) ​ (3,431) ​ ​ (3,356) Deferred compensation ​ (647) ​ (764) ​ (2,522) ​ ​ (2,399) Depreciation and amortization ​ ​ (17,852) ​ ​ (17,569) ​ ​ (35,514) ​ ​ (35,522) Earnings from unconsolidated affiliates ​ 3,318 ​ 2,692 ​ 7,124 ​ ​ 4,641 Operating income ​ 28,652 ​ 24,952 ​ 57,316 ​ ​ 46,148 Other expenses (interest and deferred debt issuance costs) ​ (25,203) ​ (7,865) ​ ​ (39,284) ​ ​ (40,091) Net earnings ​ $ 3,449 ​ $ 17,087 ​ $ 18,032 ​ $ 6,057
Schedule of supplemental information about consolidated business segments (in thousands)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 21,563 ​ $ 2,837 ​ $ 6,065 ​ $ 3,742 ​ $ 17,983 ​ $ 25,133 ​ $ 1,913 ​ $ 79,236 Product sales ​ — ​ — ​ — ​ — ​ — ​ 97,137 ​ — ​ 97,137 Total revenue ​ $ 21,563 ​ $ 2,837 ​ $ 6,065 ​ $ 3,742 ​ $ 17,983 ​ $ 122,270 ​ $ 1,913 ​ $ 176,373 Capital expenditures ​ $ 3,236 ​ $ — ​ $ 1,001 ​ $ 304 ​ $ 2,548 ​ $ 5,389 ​ $ 498 ​ $ 12,976 Identifiable assets ​ $ 142,850 ​ $ 13,903 ​ $ 105,795 ​ $ 42,321 ​ $ 225,120 ​ $ 443,390 ​ $ 9,674 ​ $ 983,053 Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,051 Investments in unconsolidated affiliates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 321,858 Unrealized gain on interest rate swap agreements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 25,452 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,123 Total assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,358,537 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 21,367 ​ $ 2,457 ​ $ 6,218 ​ $ 3,666 ​ $ 16,993 ​ $ 23,126 ​ $ 1,749 ​ $ 75,576 Product sales ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 72,265 ​ — ​ 72,265 Total revenue ​ $ 21,367 ​ $ 2,457 ​ $ 6,218 ​ $ 3,666 ​ $ 16,993 ​ $ 95,391 ​ $ 1,749 ​ $ 147,841 Capital expenditures ​ $ 2,193 ​ $ 58 ​ $ 472 ​ $ 951 ​ $ 4,011 ​ $ 3,794 ​ $ 445 ​ $ 11,924 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 44,145 ​ $ 5,686 ​ $ 12,351 ​ $ 7,299 ​ $ 37,710 ​ $ 49,944 ​ $ 4,310 ​ $ 161,445 Product sales ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 180,836 ​ — ​ ​ 180,836 Total revenue ​ $ 44,145 ​ $ 5,686 ​ $ 12,351 ​ $ 7,299 ​ $ 37,710 ​ $ 230,780 ​ $ 4,310 ​ $ 342,281 Capital expenditures ​ $ 7,238 ​ $ 162 ​ $ 1,842 ​ $ 809 ​ $ 5,803 ​ $ 13,045 ​ $ 791 ​ $ 29,690 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gulf Coast ​ Midwest ​ Brownsville ​ River ​ Southeast ​ West Coast ​ Central ​ ​ ​ ​ Terminals Terminals Terminals Terminals Terminals Terminals Services Total Revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Terminal revenue ​ $ 43,375 ​ $ 5,671 ​ $ 12,688 ​ $ 7,161 ​ $ 34,418 ​ $ 46,686 ​ $ 3,892 ​ $ 153,891 Product sales ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 133,694 ​ — ​ ​ 133,694 Total revenue ​ $ 43,375 ​ $ 5,671 ​ $ 12,688 ​ $ 7,161 ​ $ 34,418 ​ $ 180,380 ​ $ 3,892 ​ $ 287,585 Capital expenditures ​ $ 4,333 ​ $ 58 ​ $ 1,689 ​ $ 1,817 ​ $ 7,786 ​ $ 8,375 ​ $ 586 ​ $ 24,644 ​ ​

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting for operations (Details) bbl in Millions	6 Months Ended
	Jun. 30, 2024 bbl
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 - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory	$ 14,691	$ 7,259
Refined products
Inventory	9,300	2,500
Renewable products
Inventory	$ 5,400	$ 4,800

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, and Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, plant and equipment
Long-lived assets impairment	$ 0	$ 0	$ 0	$ 0
Terminals and pipelines | Minimum
Property, plant and equipment
Estimated useful lives	15 years		15 years
Terminals and pipelines | Maximum
Property, plant and equipment
Estimated useful lives	25 years		25 years
Furniture, fixtures and equipment | Minimum
Property, plant and equipment
Estimated useful lives	3 years		3 years
Furniture, fixtures and equipment | Maximum
Property, plant and equipment
Estimated useful lives	25 years		25 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Derivatives, Taxes and Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounting for derivative instruments
Unrealized gain on derivates	$ 1,200	$ 17,300	$ 12,400	$ 9,700
Income taxes
Provision for U.S. federal income taxes			0
Interest Rate Swap
Accounting for derivative instruments
Derivative fair value	25,400		25,400		$ 13,000
August 18, 2022 - July 18, 2023
Accounting for derivative instruments
Aggregate notional amount	$ 500,000		$ 500,000
Blended fixed rate (as a percent)	2.87%		2.87%
July 18, 2023 - August 18, 2025
Accounting for derivative instruments
Aggregate notional amount	$ 500,000		$ 500,000
Blended fixed rate (as a percent)	2.87%		2.87%
August 18, 2023 - August 18, 2026
Accounting for derivative instruments
Aggregate notional amount	$ 280,000		$ 280,000
Blended fixed rate (as a percent)	3.52%		3.52%
August 18, 2025 - August 18, 2026
Accounting for derivative instruments
Aggregate notional amount	$ 500,000		$ 500,000
Blended fixed rate (as a percent)	3.31%		3.31%
August 18, 2026 - August 18, 2028
Accounting for derivative instruments
Aggregate notional amount	$ 700,000		$ 700,000
Blended fixed rate (as a percent)	3.24%		3.24%

TRANSACTIONS WITH AFFILIATES -

TRANSACTIONS WITH AFFILIATES - Agreements (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) bbl	Jun. 30, 2023 USD ($)	Dec. 31, 2023
Transactions with affiliates
Revenue	$ 176,373	$ 147,841	$ 342,281	$ 287,585
Expense related to agreement	32,464	29,746	65,029	61,651
Central Services
Transactions with affiliates
Revenue	1,913	1,749	4,310	3,892
Expense related to agreement	$ 4,357	4,523	$ 8,779	9,378
Frontera
Transactions with affiliates
Ownership interest in joint venture (as a percent)	50%		50%		50%
SeaPort Midstream
Transactions with affiliates
Ownership interest in joint venture (as a percent)	51%		51%		51%
Operations and reimbursement agreement-Frontera | Frontera
Transactions with affiliates
Ownership interest in joint venture (as a percent)	50%		50%
Operations and reimbursement agreement-Frontera | Frontera
Transactions with affiliates
Revenue recognized	$ 1,400	1,500	$ 3,200	3,100
March and April 2025 terminaling services agreement-Brownsville LLC | Frontera | Brownsville terminals
Transactions with affiliates
Storage capacity agreed to be provided (in barrels) | bbl			181,000
Operating and administrative agreement SeaPort Midstream Partners, LLC | SeaPort Midstream | Central Services
Transactions with affiliates
Ownership interest in joint venture (as a percent)	51%		51%
Operating and administrative agreement SeaPort Midstream Partners, LLC | SeaPort Midstream | Central Services
Transactions with affiliates
Revenue recognized	$ 1,100	1,000	$ 2,100	2,000
Automatic renewal periods			2 years
Notice period for termination of service agreement			12 months
Reimbursement agreement | ArcLight | Central Services
Transactions with affiliates
Revenue recognized	800	700	$ 2,200	1,900
Services Agreement | TMC
Transactions with affiliates
Administration fee (in Percentage)			1%
Aggregate fees paid	600	600	$ 1,400	1,400
June 2017 terminaling services agreement-Brownsville LLC | Frontera | Brownsville terminals
Transactions with affiliates
Revenue	$ 400	$ 600	$ 800	$ 1,100

CONCENTRATION OF CREDIT RISK _3

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE
Trade accounts receivable	$ 26,281	$ 29,691

CONCENTRATION OF CREDIT RISK _4

CONCENTRATION OF CREDIT RISK AND TRADE ACCOUNTS RECEIVABLE - Customer (Details) - Consolidated revenue - Customer concentration	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	28%	9%	27%	5%
Customer B
Concentration of credit risk and trade accounts receivable
Percentage of total revenue generated by major customer	6%	10%	6%	9%

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
OTHER CURRENT ASSETS
Prepaid insurance	$ 5,869	$ 2,093
Amounts due from insurance companies	3,228	3,099
Additive detergent	2,055	2,023
Prepaid inventory		3,831
Deposits and other assets	2,369	2,426
Other current assets	13,521	$ 13,472
Increase in remediation obligations due to change in estimate	$ 100

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, plant and equipment, net
Property, plant and equipment, gross	$ 1,562,276	$ 1,536,198
Less accumulated depreciation	(738,443)	(704,527)
Property, plant and equipment, net	823,833	831,671
Utilized by customers in operating lease arrangements
Property, plant and equipment, net
Property, plant and equipment, net	551,000	571,300
Land
Property, plant and equipment, net
Property, plant and equipment, gross	104,017	104,017
Terminals, pipelines and equipment
Property, plant and equipment, net
Property, plant and equipment, gross	1,407,988	1,385,923
Furniture, fixtures and equipment
Property, plant and equipment, net
Property, plant and equipment, gross	20,187	19,619
Construction in progress
Property, plant and equipment, net
Property, plant and equipment, gross	$ 30,084	$ 26,639

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Goodwill
Goodwill	$ 18,586	$ 18,586	$ 18,586
Brownsville terminals
Goodwill
Goodwill	8,485	8,485	8,485
West Coast terminals
Goodwill
Goodwill	10,101	10,101	10,101
Brownsville and West Coast terminals
Goodwill
Impairment charges	$ 0	$ 0	$ 0

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) $ in Thousands, bbl in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) item bbl	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Carrying value of investments in unconsolidated affiliates	$ 321,858		$ 321,858		$ 320,110
Earnings from unconsolidated affiliates	3,318	$ 2,692	7,124	$ 4,641
Additional capital investments in unconsolidated affiliates				500
Cash distributions received from unconsolidated affiliates	2,668	4,152	5,376	7,170
Balance sheets:
Current assets	69,523		69,523		61,236
Current liabilities	(79,147)		(79,147)		(74,870)
Statements of income:
Revenue	176,373	147,841	342,281	287,585
Net income	3,449	17,087	18,032	6,057
Unconsolidated Affiliates
Balance sheets:
Current assets	103,682		103,682		72,569
Long-term assets	766,044		766,044		768,413
Current liabilities	(78,332)		(78,332)		(54,977)
Long-term liabilities	(71,780)		(71,780)		(73,647)
Net assets	719,614		719,614		$ 712,358
Statements of income:
Revenue	53,526	48,394	108,091	97,325
Expenses	(43,899)	(42,186)	(87,712)	(84,782)
Net income	$ 9,627	6,208	$ 20,379	12,543
BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Percentage of ownership	42.50%		42.50%		42.50%
Storage capacity | bbl			7.1
Carrying value of investments in unconsolidated affiliates	$ 184,023		$ 184,023		$ 186,486
Excess investment	5,800		5,800		$ 5,900
Earnings from unconsolidated affiliates	763	941	2,765	1,795
Cash distributions received from unconsolidated affiliates	$ 2,668	3,362	$ 5,228	6,380
Olympic Pipeline Company
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Percentage of ownership	30%		30%		30%
Number of miles | item			400
Carrying value of investments in unconsolidated affiliates	$ 83,123		$ 83,123		$ 80,000
Excess investment	5,200		5,200		5,400
Earnings from unconsolidated affiliates	1,631	568	3,123	1,283
Cash distributions received from unconsolidated affiliates		720		720
Olympic Pipeline Company | Goodwill
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Excess investment	$ 20,200		$ 20,200		$ 20,200
SeaPort Midstream
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Percentage of ownership	51%		51%		51%
Storage capacity (in barrels) | bbl			1.3
Carrying value of investments in unconsolidated affiliates	$ 33,863		$ 33,863		$ 32,357
Earnings from unconsolidated affiliates	$ 927	1,040	$ 1,506	1,435
Frontera
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Percentage of ownership	50%		50%		50%
Storage capacity | bbl			1.7
Carrying value of investments in unconsolidated affiliates	$ 20,849		$ 20,849		$ 21,267
Earnings from unconsolidated affiliates	$ (3)	143	(270)	128
Additional capital investments in unconsolidated affiliates				500
Cash distributions received from unconsolidated affiliates		$ 70	$ 148	$ 70
Class A Members | BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Cash distributions, allocation percentage			96.50%
Class B units | BOSTCO
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
Cash distributions, allocation percentage			3.50%

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Customer relationships, net of accumulated amortization of $22,901 and $21,303, respectively	$ 42,629	$ 44,227
Unrealized gain on interest rate swap agreements	25,452	13,027
Deposits and other assets	690	1,124
Other assets, net	77,771	58,378
Total outstanding borrowings	1,407,141	1,339,280
Accumulated amortization of customer relationships	22,901	21,303
Olympic Pipeline Company
Olympic Pipeline Company member loan	9,000
Member loan related to Olympic Pipeline Company | Olympic Pipeline Company
Olympic Pipeline Company member loan	9,000	0
Total borrowing capacity	$ 35,000
Proportionate share	30%
Minimum
Amortization period of customer relationships	10 years
Maximum
Amortization period of customer relationships	20 years
Olympic Pipeline Company | Member loan related to Olympic Pipeline Company
Total outstanding borrowings	$ 30,000	$ 0

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
ACCRUED LIABILITIES
Customer advances and deposits	$ 12,206	$ 11,315
Accrued compensation expense	11,870	14,375
Interest payable	6,977	7,070
Accrued property taxes	5,525	4,619
Accrued Washington State emissions allowances	1,377	524
Accrued environmental obligations	824	909
Accrued expenses and other	1,230	2,898
Accrued liabilities	40,009	$ 41,710
Accrued environmental obligations
Payments	$ 100

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands				3 Months Ended		6 Months Ended
	Apr. 15, 2024	Nov. 17, 2021	Feb. 12, 2018	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Long-term debt
Unamortized deferred debt issuance costs				$ (19,840)		$ (19,840)		$ (18,620)
Total debt				1,418,676		1,418,676		1,349,280
Current portion of senior secured term loan				(11,535)		(11,535)		(10,000)
Long-term debt				1,407,141		1,407,141		1,339,280
Amortization of deferred debt issuance costs				1,158	$ 1,012	2,199	$ 2,084
Proceeds from issuance of term loan				150,000		150,000
TLP Finance Corp
Long-term debt
Ownership interest in subsidiary (as a percent)			100%
Amount of independent assets			$ 0
Amount of independent operations			0
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%
SOFR | Credit agreement
Long-term debt
Interest (as a percent)		0.11448%
Margin interest above reference rate (as a percent)		3.50%
Base Rate | Credit agreement
Long-term debt
Margin interest above reference rate (as a percent)		2.50%
Senior secured term loan outstanding
Long-term debt
Debt				1,124,616		1,124,616		980,000
Senior secured term loan outstanding | Credit agreement
Long-term debt
Debt amount	$ 150,000
Maximum borrowing capacity		$ 1,000,000
Floor interest rate		0.50%
Proceeds from issuance of term loan	$ 150,000
6.125% senior notes due in 2026
Long-term debt
Debt				$ 299,900		$ 299,900		$ 299,900
Interest (as a percent)		6.125%	6.125%	6.125%		6.125%		6.125%
Debt amount			$ 300,000
Issuance costs			$ 8,100
Revolving credit facility outstanding
Long-term debt
Debt				$ 14,000		$ 14,000		$ 88,000
Revolving credit facility outstanding | Credit agreement
Long-term debt
Debt amount		$ 150,000
Commitment fee on unused amount of commitments (as a percent)		0.50%
Revolving credit facility outstanding | TLP Finance Corp | Credit agreement
Long-term debt
Ownership interest in subsidiary (as a percent)		35%
Revolving credit facility outstanding | Minimum | Credit agreement
Long-term debt
Leverage ratio				1		1
Revolving credit facility outstanding | Maximum | Credit agreement
Long-term debt
Leverage ratio				1.1		1.1
Revolving credit facility outstanding | Senior secured term loan outstanding | Minimum | Credit agreement
Long-term debt
Leverage ratio				1		1
Revolving credit facility outstanding | Senior secured term loan outstanding | Maximum | Credit agreement
Long-term debt
Leverage ratio				6.75		6.75
Letter of Credit | Credit agreement
Long-term debt
Debt amount		$ 35,000
Weighted average interest rate on borrowings (as a percent)						7.50%	7.30%
Outstanding borrowings under letters of credit				$ 400		$ 400		$ 400
Percentage of letter of credit fee		3.50%
Letter of Credit | Minimum | Credit agreement
Long-term debt
Percentage of fronting fee on letter of credit		0.125%

DEBT - Senior secured term loan

DEBT - Senior secured term loan (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 15, 2024	Jun. 30, 2024	Jun. 30, 2024
Long-term debt
Proceeds from senior secured term loans		$ 150,000	$ 150,000
Senior secured term loan outstanding | Credit agreement
Long-term debt
Repayment of revolving credit facility	$ 110,401
Distribution to TLP Finance Holdings, LLC for debt service	36,677
Debt issuance costs	2,922
Proceeds from senior secured term loans	150,000
Debt amount	$ 150,000

DEFERRED COMPENSATION EXPENSE (

DEFERRED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Additional disclosures
Deferred compensation expense	$ 647	$ 764	$ 2,522	$ 2,399
TMC
Additional disclosures
Deferred compensation expense	200	400	$ 1,100	1,600
TMC | Restricted phantom units
Additional disclosures
Vesting (as a percent)			50%
TMC | Restricted phantom units | Tranche One
Additional disclosures
Earlier vesting, age threshold (in years)			60 years
TMC | 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
TMC | 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
TMC | Class B units
Additional disclosures
Deferred compensation expense	$ 400	$ 400	$ 1,400	$ 800

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Leases (Details)	6 Months Ended
	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
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	47 years

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Lease cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
COMMITMENTS AND CONTINGENCIES
Operating leases	$ 1,384	$ 1,431	$ 2,832	$ 2,853
Variable lease costs (including insignificant short-term leases)	412	356	883	764
Sublease income as primary obligor	(275)	(271)	(552)	(541)
Total lease costs	$ 1,521	$ 1,516	$ 3,163	$ 3,076

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
COMMITMENTS AND CONTINGENCIES
Cash outflows for operating leases	$ 1,141	$ 1,295	$ 2,619	$ 2,730
Weighted average remaining lease term (years)	27 years 10 months 6 days	27 years 9 months 21 days	27 years 10 months 6 days	27 years 9 months 21 days
Weighted average discount rate	4.50%	4.50%	4.50%	4.50%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Undiscounted Cash Flows Owed (Details) $ in Thousands	Jun. 30, 2024 USD ($)
COMMITMENTS AND CONTINGENCIES
2024 (remainder of the year)	$ 2,967
2025	5,228
2026	3,914
2027	3,709
2028	3,264
Thereafter	66,613
Total lease payments	85,695
Less imputed interest	(36,577)
Present value of operating lease liabilities	49,118
Contractual commitments for supply of services, labor and materials	$ 27,500

DISCLOSURES ABOUT FAIR VALUE (D

DISCLOSURES ABOUT FAIR VALUE (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfers between the three levels of the fair value hierarchy	$ 0		$ 0
6.125% senior notes due in 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	299,900	$ 299,900
Senior secured term loan outstanding
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,124,616	$ 980,000
Senior secured term loan outstanding | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,126,000
6.125% senior notes due in 2026 | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 291,700

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 176,373	$ 147,841	$ 342,281	$ 287,585
Firm commitments revenue
Disaggregation of Revenue [Line Items]
ASC 842 revenue	46,286	46,080	93,580	92,694
ASC 606 revenue	12,036	10,444	24,712	20,800
Total revenue	58,322	56,524	118,292	113,494
Ancillary revenue
Disaggregation of Revenue [Line Items]
ASC 842 revenue	899	638	1,380	1,498
ASC 606 revenue	16,427	14,911	33,791	31,310
Total revenue	17,326	15,549	35,171	32,808
Terminaling services fees
Disaggregation of Revenue [Line Items]
Total revenue	75,648	72,073	153,463	146,302
Product sales
Disaggregation of Revenue [Line Items]
ASC 606 revenue	97,137	72,265	180,836	133,694
Total revenue	97,137	72,265	180,836	133,694
Management fees
Disaggregation of Revenue [Line Items]
ASC 842 revenue	361	378	748	743
ASC 606 revenue	3,227	3,125	7,234	6,846
Total revenue	$ 3,588	$ 3,503	$ 7,982	$ 7,589

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 91,984
2024 (remainder of the year)	92,905
2025	146,199
2026	69,762
2027	26,925
2028	13,482
Thereafter	30,869
Total estimated future ASC 842 revenue	380,142
Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	8,542
Midwest Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	689
Brownsville terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	3,917
Southeast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	38,225
West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	40,611
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 24,766
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 2,581
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Midwest Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	494
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Brownsville terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	1,175
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Southeast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	9,057
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	11,459
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 34,876
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 2,551
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Midwest Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	195
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Brownsville terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	2,350
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Southeast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	13,056
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	16,724
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 23,501
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,996
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Brownsville terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	392
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Southeast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	10,003
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	11,110
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 8,841
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Gulf Coast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,414
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Southeast Terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	6,109
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | West Coast terminals
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total estimated future ASC 606 revenue	$ 1,318
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining Performance Obligation, Expected Timing of Satisfaction, Period	0 years

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Balance Sheet Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS
Trade accounts receivable, Contracts under ASC 606	$ 18,932	$ 21,008
Trade accounts receivable, Contracts under ASC 842	7,349	8,683
Trade accounts receivable, total	26,281	29,691
Customer Advances and Deposits
Contract liabilities, ASC 606	2,347	1,519
Contract liabilities, ASC 842	10,364	10,398
Contract liabilities, Total	12,711	$ 11,917
Revenue recognized from beginning of period, ASC 606	1,400
Revenue recognized from beginning of period, ASC 842	$ 10,000

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segments of business
Total revenue	$ 176,373	$ 147,841	$ 342,281	$ 287,585
Operating costs and expenses	(32,464)	(29,746)	(65,029)	(61,651)
Net margins	52,727	49,452	107,779	97,965
Cost of product sales	91,182	68,643	169,473	127,969
Costs and expenses	151,039	125,581	292,089	246,078
General and administrative	(7,242)	(7,141)	(16,120)	(15,181)
Insurance	(1,652)	(1,718)	(3,431)	(3,356)
Deferred compensation	(647)	(764)	(2,522)	(2,399)
Depreciation and amortization	(17,852)	(17,569)	(35,514)	(35,522)
Earnings from unconsolidated affiliates	3,318	2,692	7,124	4,641
Operating income	28,652	24,952	57,316	46,148
Other expenses (interest and deferred debt issuance costs)	(25,203)	(7,865)	(39,284)	(40,091)
Net earnings	3,449	17,087	18,032	6,057
Capital expenditures	12,976	11,924	29,690	24,644
Identifiable assets	983,053		983,053
Cash and cash equivalents	12,051		12,051		$ 7,552
Investments in unconsolidated affiliates	321,858		321,858		320,110
Unrealized gain on interest rate swap agreements	25,452		25,452
Other	16,123		16,123
TOTAL ASSETS	1,358,537		1,358,537		$ 1,338,132
Gulf Coast Terminals
Segments of business
Total revenue	21,563	21,367	44,145	43,375
Operating costs and expenses	(6,072)	(5,503)	(12,642)	(11,557)
Net margins	15,491	15,864	31,503	31,818
Capital expenditures	3,236	2,193	7,238	4,333
Identifiable assets	142,850		142,850
Midwest Terminals
Segments of business
Total revenue	2,837	2,457	5,686	5,671
Operating costs and expenses	(393)	(461)	(889)	(958)
Net margins	2,444	1,996	4,797	4,713
Capital expenditures		58	162	58
Identifiable assets	13,903		13,903
Brownsville terminals
Segments of business
Total revenue	6,065	6,218	12,351	12,688
Operating costs and expenses	(2,940)	(2,436)	(5,521)	(5,028)
Net margins	3,125	3,782	6,830	7,660
Capital expenditures	1,001	472	1,842	1,689
Identifiable assets	105,795		105,795
River terminals
Segments of business
Total revenue	3,742	3,666	7,299	7,161
Operating costs and expenses	(1,747)	(1,759)	(3,498)	(3,481)
Net margins	1,995	1,907	3,801	3,680
Capital expenditures	304	951	809	1,817
Identifiable assets	42,321		42,321
Southeast Terminals
Segments of business
Total revenue	17,983	16,993	37,710	34,418
Operating costs and expenses	(6,849)	(5,999)	(13,930)	(12,180)
Net margins	11,134	10,994	23,780	22,238
Capital expenditures	2,548	4,011	5,803	7,786
Identifiable assets	225,120		225,120
West Coast terminals
Segments of business
Total revenue	122,270	95,391	230,780	180,380
Operating costs and expenses	(10,106)	(9,065)	(19,770)	(19,069)
Net margins	20,982	17,683	41,537	33,342
Cost of product sales	(91,182)	(68,643)	(169,473)	(127,969)
Costs and expenses	(101,288)	(77,708)	(189,243)	(147,038)
Capital expenditures	5,389	3,794	13,045	8,375
Identifiable assets	443,390		443,390
Central Services
Segments of business
Total revenue	1,913	1,749	4,310	3,892
Operating costs and expenses	(4,357)	(4,523)	(8,779)	(9,378)
Net margins	(2,444)	(2,774)	(4,469)	(5,486)
Capital expenditures	498	445	791	586
Identifiable assets	9,674		9,674
Terminal revenue
Segments of business
Total revenue	79,236	75,576	161,445	153,891
Terminal revenue | Gulf Coast Terminals
Segments of business
Total revenue	21,563	21,367	44,145	43,375
Terminal revenue | Midwest Terminals
Segments of business
Total revenue	2,837	2,457	5,686	5,671
Terminal revenue | Brownsville terminals
Segments of business
Total revenue	6,065	6,218	12,351	12,688
Terminal revenue | River terminals
Segments of business
Total revenue	3,742	3,666	7,299	7,161
Terminal revenue | Southeast Terminals
Segments of business
Total revenue	17,983	16,993	37,710	34,418
Terminal revenue | West Coast terminals
Segments of business
Total revenue	25,133	23,126	49,944	46,686
Terminal revenue | Central Services
Segments of business
Total revenue	1,913	1,749	4,310	3,892
Product sales
Segments of business
Total revenue	97,137	72,265	180,836	133,694
Product sales | West Coast terminals
Segments of business
Total revenue	97,137	72,265	180,836	133,694
Terminaling services fees
Segments of business
Total revenue	75,648	72,073	153,463	146,302
Terminaling services fees | Gulf Coast Terminals
Segments of business
Total revenue	21,538	21,349	44,102	43,342
Terminaling services fees | Midwest Terminals
Segments of business
Total revenue	2,837	2,457	5,686	5,671
Terminaling services fees | Brownsville terminals
Segments of business
Total revenue	4,633	4,769	9,174	9,613
Terminaling services fees | River terminals
Segments of business
Total revenue	3,742	3,666	7,299	7,161
Terminaling services fees | Southeast Terminals
Segments of business
Total revenue	17,771	16,717	37,264	33,851
Terminaling services fees | West Coast terminals
Segments of business
Total revenue	25,127	23,115	49,938	46,664
Management fees
Segments of business
Total revenue	3,588	3,503	7,982	7,589
Management fees | Gulf Coast Terminals
Segments of business
Total revenue	25	18	43	33
Management fees | Brownsville terminals
Segments of business
Total revenue	1,432	1,449	3,177	3,075
Management fees | Southeast Terminals
Segments of business
Total revenue	212	276	446	567
Management fees | West Coast terminals
Segments of business
Total revenue	6	11	6	22
Management fees | Central Services
Segments of business
Total revenue	$ 1,913	$ 1,749	$ 4,310	$ 3,892