Adams Resources & Energy (AE) 10-Q 7 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-07908
Entity Registrant Name	ADAMS RESOURCES & ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1753147
Entity Address, Address Line One	17 South Briar Hollow Lane
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	881-3600
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	AE
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,235,750
Document Fiscal Year Focus	2020
Entity Central Index Key	0000002178
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 87,398	$ 112,994
Restricted cash	8,827	9,261
Accounts receivable, net of allowance for doubtful accounts of $117 and $141, respectively	52,941	94,534
Inventory	10,021	26,407
Derivative assets	545	0
Income tax receivable	14,495	2,569
Prepayments and other current assets	1,306	1,559
Total current assets	175,533	247,324
Property and equipment, net	65,381	69,046
Operating lease right-of-use assets, net	9,090	9,576
Intangible assets, net	1,465	1,597
Cash deposits and other assets	2,187	3,299
Total assets	253,656	330,842
Current liabilities:
Accounts payable	78,245	147,851
Accounts payable – related party	6	5
Derivative liabilities	526	0
Current portion of finance lease obligations	2,193	2,167
Current portion of operating lease liabilities	2,203	2,252
Other current liabilities	8,808	7,302
Total current liabilities	91,981	159,577
Other long-term liabilities:
Asset retirement obligations	1,585	1,573
Finance lease obligations	3,818	4,376
Operating lease liabilities	6,887	7,323
Deferred taxes and other liabilities	10,059	6,352
Total liabilities	114,330	179,201
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred stock - $1.00 par value, 960,000 shares authorized, none outstanding	0	0
Common stock - $0.10 par value, 7,500,000 shares authorized, 4,235,750 and 4,235,533 shares outstanding, respectively	423	423
Contributed capital	12,912	12,778
Retained earnings	125,991	138,440
Total shareholders’ equity	139,326	151,641
Total liabilities and shareholders’ equity	$ 253,656	$ 330,842

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Allowance for doubtful accounts	$ 117	$ 141
Shareholders’ equity:
Preferred stock - par value (in dollars per share)	$ 1	$ 1
Preferred stock - shares authorized (in shares)	960,000	960,000
Preferred stock - shares outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.10	$ 0.10
Common stock - shares authorized (in shares)	7,500,000	7,500,000
Common stock - shares outstanding (in shares)	4,235,750	4,235,533

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenues	$ 353,477	$ 445,168
Costs and expenses:
General and administrative	2,894	2,684
Depreciation and amortization	4,473	3,589
Total costs and expenses	373,417	439,915
Operating (losses) earnings	(19,940)	5,253
Other income (expense):
Gain on dissolution of investment	0	498
Interest income	365	656
Interest expense	(150)	(65)
Total other income (expense), net	215	1,089
(Losses) Earnings before income taxes	(19,725)	6,342
Income tax benefit (provision)	8,298	(1,434)
Net (losses) earnings	$ (11,427)	$ 4,908
(Losses) Earnings per share:
Basic net (losses) earnings per common share (in dollars per share)	$ (2.70)	$ 1.16
Diluted net (losses) earnings per common share (in dollars per share)	(2.69)	1.16
Dividends per common share (in dollars per share)	$ 0.24	$ 0.22
Marketing
Revenues:
Total revenues	$ 337,221	$ 429,761
Costs and expenses:
Cost of goods and services sold	352,865	420,541
Transportation
Revenues:
Total revenues	16,256	15,407
Costs and expenses:
Cost of goods and services sold	$ 13,185	$ 13,101

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Net (losses) earnings	$ (11,427)	$ 4,908
Adjustments to reconcile net losses earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	4,473	3,589
Gains on sales of property	(140)	(178)
Provision for doubtful accounts	(24)	(32)
Stock-based compensation expense	134	123
Deferred income taxes	(2,689)	834
Net change in fair value contracts	(19)	19
Gain on dissolution of AREC	0	(498)
Changes in assets and liabilities:
Accounts receivable	41,617	(2,866)
Accounts receivable/payable, affiliates	1	(23)
Inventories	16,386	(6,458)
Income tax receivable	(5,530)	426
Prepayments and other current assets	253	(52)
Accounts payable	(68,384)	17,914
Accrued liabilities	1,506	2,432
Other	(3)	878
Net cash provided by (used in) operating activities	(23,846)	21,016
Investing activities:
Property and equipment additions	(2,212)	(8,351)
Proceeds from property sales	502	543
Proceeds from dissolution of AREC	0	923
Insurance and state collateral (deposits) refunds	1,128	842
Net cash used in investing activities	(582)	(6,043)
Financing activities:
Principal repayments of finance lease obligations	(532)	(218)
Payment of contingent consideration liability	(54)	0
Dividends paid on common stock	(1,016)	(928)
Net cash used in financing activities	(1,602)	(1,146)
(Decrease) Increase in cash and cash equivalents, including restricted cash	(26,030)	13,827
Cash and cash equivalents, including restricted cash, at beginning of period	122,255	117,066
Cash and cash equivalents, including restricted cash, at end of period	$ 96,225	$ 130,893

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Contributed Capital	Retained Earnings
Beginning balance at Dec. 31, 2018	$ 146,598	$ 422	$ 11,948	$ 134,228
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	4,908			4,908
Stock-based compensation expense	123		123
Dividends declared:
Common stock, $0.24/share	(928)			(928)
Awards under LTIP, $0.24/share	(2)			(2)
Ending balance at Mar. 31, 2019	150,699	422	12,071	138,206
Beginning balance at Dec. 31, 2019	151,641	423	12,778	138,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(11,427)			(11,427)
Stock-based compensation expense	134		134
Dividends declared:
Common stock, $0.24/share	(1,016)			(1,016)
Awards under LTIP, $0.24/share	(6)			(6)
Ending balance at Mar. 31, 2020	$ 139,326	$ 423	$ 12,912	$ 125,991

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.24	$ 0.22
Awards under LTIP (in dollars per share)	$ 0.24	$ 0.22

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Adams Resources & Energy, Inc. (“AE”) is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. We, through our subsidiaries, are primarily engaged in the business of crude oil marketing, transportation and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). We also conduct tank truck transportation of liquid chemicals and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with terminals in the Gulf Coast region of the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” the “Company” or “AE” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries. We operate and report in two business segments: (i) crude oil marketing, transportation and storage, and (ii) tank truck transportation of liquid chemicals and dry bulk. See Note 7 for further information regarding our business segments. Basis of Presentation Our results of operations for the three months ended March 31, 2020 are not necessarily indicative of results expected for the full year of 2020. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) filed with the SEC on March 6, 2020. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash Restricted cash represents an amount held in a segregated bank account by Wells Fargo as collateral for outstanding letters of credit. The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Cash and cash equivalents $ 87,398 $ 112,994 Restricted cash 8,827 9,261 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 96,225 $ 122,255 Common Shares Outstanding The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2020 4,235,533 Vesting of restricted stock unit awards 217 Balance, March 31, 2020 4,235,750 Earnings Per Share Basic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential shares of common stock outstanding, including our stock related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan (“2018 LTIP”) are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 10 for further discussion). A reconciliation of the calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended 2020 2019 (Losses) Earnings per share — numerator: Net (losses) earnings $ (11,427) $ 4,908 Denominator: Basic weighted average number of shares outstanding 4,236 4,218 Basic (losses) earnings per share $ (2.70) $ 1.16 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 4,236 4,218 Restricted stock unit awards 12 6 Performance share unit awards (1) 2 — Total 4,250 4,224 Diluted (losses) earnings per share $ (2.69) $ 1.16 _______________ (1) The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. The performance conditions for the performance share unit awards granted in 2018 were achieved as of December 31, 2018. Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. Fair value contracts consist of derivative financial instruments and are recorded as either an asset or liability measured at its fair value. Changes in fair value are recognized immediately in earnings unless the derivatives qualify for, and we elect, cash flow hedge accounting. We had no contracts designated for hedge accounting during any current reporting periods (see Note 9 for further information). Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted and signed into law in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating losses (“NOL”) incurred in tax years 2018, 2019 and 2020 to offset 100 percent of taxable income and be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. We are continuing to evaluate the full impact of the CARES Act. However, we have determined that the NOL carryback provision in the CARES Act would result in a cash benefit to us, and we have recorded an income tax receivable at March 31, 2020 of approximately $6.4 million for the benefit of carrying back the NOLs for the fiscal years 2018 and 2019. We are forecasting an NOL for fiscal year 2020 and expect to carry it back to previous years. As a result, we have also included the 2020 provisional amounts in income tax receivable at March 31, 2020. As we are carrying the losses back to years beginning before January 1, 2018, the receivables were recorded at the previous 35 percent federal tax rate rather than the current statutory rate of 21 percent. Inventory Inventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses on our consolidated statements of operations. During the three months ended March 31, 2020, we recorded a charge of $24.2 million related to the write-down of our crude oil inventory due to significant declines in prices in 2020. There were no charges recognized during the three months ended March 31, 2019. Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For properties requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows. See Note 5 for additional information regarding our property and equipment. Stock-Based Compensation We measure all share-based payments, including the issuance of restricted stock units and performance share units to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur. See Note 10 for additional information regarding our 2018 LTIP.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Reporting Segments Marketing Transportation Total Three Months Ended March 31, 2020 Revenues from contracts with customers $ 319,717 $ 16,256 $ 335,973 Other (1) 17,504 — 17,504 Total revenues $ 337,221 $ 16,256 $ 353,477 Timing of revenue recognition: Goods transferred at a point in time $ 319,717 $ — $ 319,717 Services transferred over time — 16,256 16,256 Total revenues from contracts with customers $ 319,717 $ 16,256 $ 335,973 Three Months Ended March 31, 2019 Revenues from contracts with customers $ 360,731 $ 15,407 $ 376,138 Other (1) 69,030 — 69,030 Total revenues $ 429,761 $ 15,407 $ 445,168 Timing of revenue recognition: Goods transferred at a point in time $ 360,731 $ — $ 360,731 Services transferred over time — 15,407 15,407 Total revenues from contracts with customers $ 360,731 $ 15,407 $ 376,138 _______________ (1) Other marketing revenues are recognized under Accounting Standards Board (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying consolidated financial statements. Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying consolidated financial statements. Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Revenue gross-up $ 157,439 $ 242,123

Prepayments and Other Current A

Prepayments and Other Current Assets	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	Prepayments and Other Current Assets The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Insurance premiums $ 346 $ 473 Rents, licenses and other 960 1,086 Total $ 1,306 $ 1,559

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The historical costs of our property and equipment and related accumulated depreciation balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2020 2019 Tractors and trailers (1) 5 – 6 $ 116,509 $ 115,693 Field equipment (2) 2 – 5 25,149 25,094 Buildings 5 – 39 16,055 16,055 Office equipment 2 – 5 1,958 1,951 Land 1,790 1,790 Construction in progress 283 3,661 Total 161,744 164,244 Less accumulated depreciation (96,363) (95,198) Property and equipment, net $ 65,381 $ 69,046 _______________ (1) Amounts include tractors held under finance leases in our crude oil marketing segment. At March 31, 2020 and December 31, 2019, gross property and equipment associated with these assets held under finance leases were $5.5 million and $5.5 million, respectively. Accumulated amortization associated with these assets held under these finance leases were $2.0 million and $1.7 million at March 31, 2020 and December 31, 2019, respectively (see Note 12 for further information). (2) Amounts include a tank storage and throughput arrangement in our crude oil marketing segment held under a finance lease. At March 31, 2020 and December 31, 2019, gross property and equipment associated with these assets held under a finance lease were $3.3 million and $3.3 million, respectively. Accumulated amortization associated with these assets held under a finance lease was $1.0 million and $0.7 million at March 31, 2020 and December 31, 2019, respectively (see Note 12 for further information). Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Depreciation and amortization, excluding amounts under finance leases $ 3,920 $ 3,344 Amortization of property and equipment under finance leases 553 245 Total depreciation and amortization $ 4,473 $ 3,589

Cash Deposits and Other Assets

Cash Deposits and Other Assets	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash Deposits and Other Assets	Cash Deposits and Other Assets Components of cash deposits and other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Amounts associated with liability insurance program: Insurance collateral deposits $ 709 $ 1,233 Excess loss fund 620 943 Accumulated interest income 332 609 Other amounts: State collateral deposits 33 37 Materials and supplies 493 477 Total $ 2,187 $ 3,299 We have established certain deposits to support participation in our liability insurance program and remittance of state crude oil severance taxes and other state collateral deposits. Insurance collateral deposits are held by the insurance company to cover past or potential open claims based upon a percentage of the maximum assessment under our insurance policies. Insurance collateral deposits are invested at the discretion of our insurance carrier. Excess amounts in our loss fund represent premium payments in excess of claims incurred to date that we may be entitled to recover through settlement or commutation as claim periods are closed. Interest income is earned on the majority of amounts held by the insurance companies and will be paid to us upon settlement of policy years.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We operate and report in two business segments: (i) crude oil marketing, transportation and storage, and (ii) tank truck transportation of liquid chemicals and dry bulk. Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Marketing Transportation Other Total Three Months Ended March 31, 2020 Revenues $ 337,221 $ 16,256 $ — $ 353,477 Segment operating (losses) earnings (1) (17,651) 605 — (17,046) Depreciation and amortization 2,007 2,466 — 4,473 Property and equipment additions (2) 2,032 41 139 2,212 Three Months Ended March 31, 2019 Revenues $ 429,761 $ 15,407 $ — $ 445,168 Segment operating (losses) earnings (1) 7,098 839 — 7,937 Depreciation and amortization 2,122 1,467 — 3,589 Property and equipment additions (3) 1,654 6,697 — 8,351 _______________ (1) Our crude oil marketing segment’s operating (losses) earnings included inventory valuation losses of $24.2 million and inventory liquidation gains of $4.5 million for the three months ended March 31, 2020 and 2019, respectively. (2) During the three months ended March 31, 2020, we had $0.1 million of property and equipment additions for leasehold improvements at our corporate headquarters, which is not attributed or allocated to any of our reporting segments. (3) Our crude oil marketing segment’s property and equipment additions do not include approximately $0.6 million of tractors acquired under finance leases during the three months ended March 31, 2019. See Note 12 for further information. Segment operating (losses) earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended 2020 2019 Segment operating (losses) earnings $ (17,046) $ 7,937 General and administrative (2,894) (2,684) Operating (losses) earnings (19,940) 5,253 Gain on dissolution of investment — 498 Interest income 365 656 Interest expense (150) (65) (Losses) Earnings before income taxes $ (19,725) $ 6,342 Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Reporting segment: Marketing $ 81,887 $ 141,402 Transportation 56,933 58,483 Cash and other 114,836 130,957 Total assets $ 253,656 $ 330,842

Transactions with Affiliates

Transactions with Affiliates	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates We enter into certain transactions in the normal course of business with affiliated entities including direct cost reimbursement for shared phone and administrative services. In addition, we lease our corporate office space in a building operated by 17 South Briar Hollow Lane, LLC, an affiliate of KSA Industries, Inc., which is an affiliated entity. Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Affiliate billings to us $ 17 $ 17 Billings to affiliates 1 1 Rentals paid to affiliate 122 122

Derivative Instruments and Fair

Derivative Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Fair Value Measurements	Derivative Instruments and Fair Value Measurements Derivative Instruments In the normal course of our operations, our crude oil marketing segment purchases and sells crude oil. We seek to profit by procuring the commodity as it is produced and then delivering the material to the end users or the intermediate use marketplace. As typical for the industry, these transactions are made pursuant to the terms of forward month commodity purchase and/or sale contracts. Some of these contracts meet the definition of a derivative instrument, and therefore, we account for these contracts at fair value, unless the normal purchase and sale exception is applicable. These types of underlying contracts are standard for the industry and are the governing document for our crude oil marketing segment. None of our derivative instruments have been designated as hedging instruments. At March 31, 2020, we had in place four commodity purchase and sale contracts, all of which had fair values associated with them as the contractual prices of crude oil were outside of the range of prices specified in the agreements. These commodity purchase and sale contracts encompassed approximately: • 322 barrels per day of crude oil during April 2020; and • 258 barrels per day of crude oil during May 2020 through December 2020. At December 31, 2019, we had in place six commodity purchase and sale contracts with no fair value associated with them as the contractual prices of crude oil were within the range of prices specified in the agreements. These commodity purchase and sale contracts encompassed approximately: • 258 barrels per day of crude oil during January 2020 through February 2020; • 322 barrels per day of crude oil during March 2020 through April 2020; and • 258 barrels per day of crude oil during May 2020 through December 2020. The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheet were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2020 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 545 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 526 — Less counterparty offsets — — — — As reported fair value contracts $ 545 $ — $ 526 $ — December 31, 2019 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ — $ — We only enter into commodity contracts with creditworthy counterparties and evaluate our exposure to significant counterparties on an ongoing basis. At March 31, 2020 and December 31, 2019, we were not holding nor have we posted any collateral to support our forward month fair value derivative activity. We are not subject to any credit-risk related trigger events. We have no other financial investment arrangements that would serve to offset our derivative contracts. Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2020 2019 Revenues – marketing $ 19 $ (20) Fair Value Measurements The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2020 Derivatives: Current assets $ — $ 545 $ — $ — $ 545 Current liabilities — (526) — — (526) Net value $ — $ 19 $ — $ — $ 19 December 31, 2019 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — — — — — Net value $ — $ — $ — $ — $ — These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of these inputs requires judgments. When determining fair value measurements, we make credit valuation adjustments to reflect both our own nonperformance risk and our counterparty’s nonperformance risk. When adjusting the fair value of derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements. Credit valuation adjustments utilize Level 3 inputs, such as credit scores to evaluate the likelihood of default by us or our counterparties. At March 31, 2020 and December 31, 2019, credit valuation adjustments were not significant to the overall valuation of our fair value contracts. As a result, applicable fair value assets and liabilities are included in their entirety in the fair value hierarchy.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation Plan We have in place a long-term incentive plan under which any employee or non-employee director who provides services to us is eligible to participate in the plan. The 2018 LTIP, which is overseen by the Compensation Committee of our Board of Directors, provides for the grant of various types of equity awards, of which restricted stock unit awards and performance-based compensation awards have been granted. The maximum number of shares authorized for issuance under the 2018 LTIP is 150,000 shares, and the 2018 LTIP is effective until May 8, 2028. After giving effect to awards granted under the 2018 LTIP, forfeitures under the 2018 LTIP and assuming the potential achievement of the maximum amounts of the performance factors through March 31, 2020, a total of 79,228 shares were available for issuance. Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Compensation expense $ 134 $ 123 At March 31, 2020 and December 31, 2019, we had $28,800 and $23,600, respectively, of accrued dividend amounts for awards granted under the 2018 LTIP. Restricted Stock Unit Awards The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2020 18,782 $ 37.05 Granted (2) 20,346 $ 24.85 Vested (217) $ 37.61 Forfeited (282) $ 37.61 Restricted stock unit awards at March 31, 2020 38,629 $ 30.62 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during 2020 was $0.5 million based on a grant date market price of our common shares ranging from $24.77 to $26.23 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $0.7 million at March 31, 2020. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.7 years. Performance Share Unit Awards The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2020 2,787 $ 43.00 Granted (2) 10,781 $ 24.92 Vested — $ — Forfeited (27) $ 43.00 Performance share unit awards at March 31, 2020 13,541 $ 28.60 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during 2020 was $0.2 million based on a grant date market price of our common shares ranging from $24.77 to $26.23 per share and assuming a performance factor of 100 percent. Unrecognized compensation cost associated with performance share unit awards was approximately $0.3 million at March 31, 2020. We expect to recognize the remaining compensation cost for these awards over a weighted-average period of 2.7 years.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Cash paid for interest $ 150 $ 65 Cash paid for federal and state income taxes 21 5 Non-cash transactions: Change in accounts payable related to property and equipment additions 1,129 (683) Property and equipment acquired under finance leases — 556

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Finance lease cost: Amortization of ROU assets $ 553 $ 245 Interest on lease liabilities 74 45 Operating lease cost 679 862 Short-term lease cost 2,503 1,965 Total lease expense $ 3,809 $ 3,117 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 678 $ 861 Operating cash flows from finance leases 105 30 Financing cash flows from finance leases 532 218 ROU assets obtained in exchange for new lease liabilities: Finance leases — 556 Operating leases 81 11,410 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2020 2019 Weighted-average remaining lease term (years): Finance leases 2.78 4.21 Operating leases 4.58 5.41 Weighted-average discount rate: Finance leases 4.9 % 4.7 % Operating leases 5.0 % 5.0 % The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2020 2019 Assets Finance lease ROU assets (1) $ 5,830 $ 6,384 Operating lease ROU assets 9,090 9,576 Liabilities Current Finance lease liabilities 2,193 2,167 Operating lease liabilities 2,203 2,252 Noncurrent Finance lease liabilities 3,818 4,376 Operating lease liabilities 6,887 7,323 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2020 (in thousands): Finance Operating Lease Lease Remainder of 2020 $ 1,818 $ 2,007 2021 2,426 2,285 2022 1,492 1,942 2023 642 1,778 2024 39 1,668 Thereafter — 443 Total lease payments 6,417 10,123 Less: Interest (406) (1,033) Present value of lease liabilities 6,011 9,090 Less: Current portion of lease obligation (2,193) (2,203) Total long-term lease obligation $ 3,818 $ 6,887 The following table provides maturities of undiscounted lease liabilities at December 31, 2019 (in thousands): Finance Operating Lease Lease 2020 $ 2,426 $ 2,660 2021 2,426 2,256 2022 1,492 1,914 2023 642 1,776 2024 37 1,668 Thereafter — 443 Total lease payments 7,023 10,717 Less: Interest (480) (1,142) Present value of lease liabilities 6,543 9,575 Less: Current portion of lease obligation (2,167) (2,252) Total long-term lease obligation $ 4,376 $ 7,323
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Finance lease cost: Amortization of ROU assets $ 553 $ 245 Interest on lease liabilities 74 45 Operating lease cost 679 862 Short-term lease cost 2,503 1,965 Total lease expense $ 3,809 $ 3,117 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 678 $ 861 Operating cash flows from finance leases 105 30 Financing cash flows from finance leases 532 218 ROU assets obtained in exchange for new lease liabilities: Finance leases — 556 Operating leases 81 11,410 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2020 2019 Weighted-average remaining lease term (years): Finance leases 2.78 4.21 Operating leases 4.58 5.41 Weighted-average discount rate: Finance leases 4.9 % 4.7 % Operating leases 5.0 % 5.0 % The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2020 2019 Assets Finance lease ROU assets (1) $ 5,830 $ 6,384 Operating lease ROU assets 9,090 9,576 Liabilities Current Finance lease liabilities 2,193 2,167 Operating lease liabilities 2,203 2,252 Noncurrent Finance lease liabilities 3,818 4,376 Operating lease liabilities 6,887 7,323 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2020 (in thousands): Finance Operating Lease Lease Remainder of 2020 $ 1,818 $ 2,007 2021 2,426 2,285 2022 1,492 1,942 2023 642 1,778 2024 39 1,668 Thereafter — 443 Total lease payments 6,417 10,123 Less: Interest (406) (1,033) Present value of lease liabilities 6,011 9,090 Less: Current portion of lease obligation (2,193) (2,203) Total long-term lease obligation $ 3,818 $ 6,887 The following table provides maturities of undiscounted lease liabilities at December 31, 2019 (in thousands): Finance Operating Lease Lease 2020 $ 2,426 $ 2,660 2021 2,426 2,256 2022 1,492 1,914 2023 642 1,776 2024 37 1,668 Thereafter — 443 Total lease payments 7,023 10,717 Less: Interest (480) (1,142) Present value of lease liabilities 6,543 9,575 Less: Current portion of lease obligation (2,167) (2,252) Total long-term lease obligation $ 4,376 $ 7,323

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance Policies We establish a liability under our automobile and workers’ compensation insurance policies for expected claims incurred but not reported on a monthly basis. As claims are paid, the liability is relieved. Our accruals for automobile and workers’ compensation claims are presented in the table below. For periods prior to October 1, 2017, we pre-funded our estimated claims, and therefore, we could either receive a return of premium paid or be assessed for additional premiums up to pre-established limits. Additionally, in certain instances, the risk of insured losses was shared with a group of similarly situated entities through an insurance captive. We have appropriately recognized estimated expenses and liabilities related to these policies for losses incurred but not reported to us or our insurance carrier. The amount of pre-funded insurance premiums left to cover potential future losses are presented in the table below. If the potential insurance claims do not further develop, the pre-funded premiums will be returned to us as a premium refund. The amount of pre-funded insurance premiums left to cover potential future losses related to periods prior to October 1, 2017, and our accruals for automobile and workers’ compensation claims were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Pre-funded premiums for losses incurred but not reported $ 58 $ 168 Accrued automobile and workers’ compensation claims 3,170 2,956 We maintain a self-insurance program for managing employee medical claims. A liability for expected claims incurred but not reported is established on a monthly basis. As claims are paid, the liability is relieved. We also maintain third party insurance stop-loss coverage for individual medical claims exceeding a certain minimum threshold. In addition, we maintain $1.4 million of umbrella insurance coverage for annual aggregate medical claims exceeding approximately $7.5 million. Medical accrual amounts were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Accrued medical claims $ 1,329 $ 1,016 Legal Proceedings On August 15, 2019, we received a notice from the Internal Revenue Service (the “IRS”) regarding a proposed penalty of approximately $1.2 million for our 2017 tax year information returns. The notice alleges that certain taxpayer identification numbers supplied to the IRS for our returns in 2017 were either missing or incorrect and that certain filings were late. We responded to the IRS on September 25, 2019 disputing the proposed penalty and requesting that the amount be waived, abated or a hearing held. On March 11, 2020, we received a response from the IRS indicating that they had reviewed our response and waived the full penalty. As such, this matter will not have a material impact on our consolidated financial position, results of operations or cash flows. Litigation From time to time as incidental to our operations, we may become involved in various lawsuits and/or disputes. Primarily as an operator of an extensive trucking fleet, we are a party to motor vehicle accidents, worker compensation claims and other items of general liability as would be typical for the industry. We are presently unaware of any claims against us that are either outside the scope of insurance coverage or that may exceed the level of insurance coverage and could potentially represent a material adverse effect on our financial position or results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Organization	Organization Adams Resources & Energy, Inc. (“AE”) is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. We, through our subsidiaries, are primarily engaged in the business of crude oil marketing, transportation and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). We also conduct tank truck transportation of liquid chemicals and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with terminals in the Gulf Coast region of the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” the “Company” or “AE” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation Our results of operations for the three months ended March 31, 2020 are not necessarily indicative of results expected for the full year of 2020. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) filed with the SEC on March 6, 2020. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of our financial statements in conformity with GAAP requires management to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. While we believe the estimates and assumptions used in the preparation of these condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashRestricted cash represents an amount held in a segregated bank account by Wells Fargo as collateral for outstanding letters of credit.
Earnings Per Share	Earnings Per ShareBasic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential shares of common stock outstanding, including our stock related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan (“2018 LTIP”) are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 10 for further discussion).
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis.
Inventory	InventoryInventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses on our consolidated statements of operations. During the three months ended March 31, 2020, we recorded a charge of $24.2 million related to the write-down of our crude oil inventory due to significant declines in prices in 2020. There were no charges recognized during the three months ended March 31, 2019.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For properties requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows.
Stock-Based Compensation	Stock-Based CompensationWe measure all share-based payments, including the issuance of restricted stock units and performance share units to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur.
Other Marketing Revenue	Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Cash and cash equivalents $ 87,398 $ 112,994 Restricted cash 8,827 9,261 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 96,225 $ 122,255
Schedule of Common Stock Outstanding	The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2020 4,235,533 Vesting of restricted stock unit awards 217 Balance, March 31, 2020 4,235,750
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended 2020 2019 (Losses) Earnings per share — numerator: Net (losses) earnings $ (11,427) $ 4,908 Denominator: Basic weighted average number of shares outstanding 4,236 4,218 Basic (losses) earnings per share $ (2.70) $ 1.16 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 4,236 4,218 Restricted stock unit awards 12 6 Performance share unit awards (1) 2 — Total 4,250 4,224 Diluted (losses) earnings per share $ (2.69) $ 1.16 _______________

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Reporting Segments Marketing Transportation Total Three Months Ended March 31, 2020 Revenues from contracts with customers $ 319,717 $ 16,256 $ 335,973 Other (1) 17,504 — 17,504 Total revenues $ 337,221 $ 16,256 $ 353,477 Timing of revenue recognition: Goods transferred at a point in time $ 319,717 $ — $ 319,717 Services transferred over time — 16,256 16,256 Total revenues from contracts with customers $ 319,717 $ 16,256 $ 335,973 Three Months Ended March 31, 2019 Revenues from contracts with customers $ 360,731 $ 15,407 $ 376,138 Other (1) 69,030 — 69,030 Total revenues $ 429,761 $ 15,407 $ 445,168 Timing of revenue recognition: Goods transferred at a point in time $ 360,731 $ — $ 360,731 Services transferred over time — 15,407 15,407 Total revenues from contracts with customers $ 360,731 $ 15,407 $ 376,138 _______________ (1) Other marketing revenues are recognized under Accounting Standards Board (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Revenue gross-up $ 157,439 $ 242,123

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of Prepayments and Other Current Assets	The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Insurance premiums $ 346 $ 473 Rents, licenses and other 960 1,086 Total $ 1,306 $ 1,559

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and equipment	The historical costs of our property and equipment and related accumulated depreciation balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2020 2019 Tractors and trailers (1) 5 – 6 $ 116,509 $ 115,693 Field equipment (2) 2 – 5 25,149 25,094 Buildings 5 – 39 16,055 16,055 Office equipment 2 – 5 1,958 1,951 Land 1,790 1,790 Construction in progress 283 3,661 Total 161,744 164,244 Less accumulated depreciation (96,363) (95,198) Property and equipment, net $ 65,381 $ 69,046 _______________ (1) Amounts include tractors held under finance leases in our crude oil marketing segment. At March 31, 2020 and December 31, 2019, gross property and equipment associated with these assets held under finance leases were $5.5 million and $5.5 million, respectively. Accumulated amortization associated with these assets held under these finance leases were $2.0 million and $1.7 million at March 31, 2020 and December 31, 2019, respectively (see Note 12 for further information). (2) Amounts include a tank storage and throughput arrangement in our crude oil marketing segment held under a finance lease. At March 31, 2020 and December 31, 2019, gross property and equipment associated with these assets held under a finance lease were $3.3 million and $3.3 million, respectively. Accumulated amortization associated with these assets held under a finance lease was $1.0 million and $0.7 million at March 31, 2020 and December 31, 2019, respectively (see Note 12 for further information). Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Depreciation and amortization, excluding amounts under finance leases $ 3,920 $ 3,344 Amortization of property and equipment under finance leases 553 245 Total depreciation and amortization $ 4,473 $ 3,589

Cash Deposits and Other Assets

Cash Deposits and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of cash deposits and other assets	Components of cash deposits and other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Amounts associated with liability insurance program: Insurance collateral deposits $ 709 $ 1,233 Excess loss fund 620 943 Accumulated interest income 332 609 Other amounts: State collateral deposits 33 37 Materials and supplies 493 477 Total $ 2,187 $ 3,299

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Information concerning business activities	nformation by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Marketing Transportation Other Total Three Months Ended March 31, 2020 Revenues $ 337,221 $ 16,256 $ — $ 353,477 Segment operating (losses) earnings (1) (17,651) 605 — (17,046) Depreciation and amortization 2,007 2,466 — 4,473 Property and equipment additions (2) 2,032 41 139 2,212 Three Months Ended March 31, 2019 Revenues $ 429,761 $ 15,407 $ — $ 445,168 Segment operating (losses) earnings (1) 7,098 839 — 7,937 Depreciation and amortization 2,122 1,467 — 3,589 Property and equipment additions (3) 1,654 6,697 — 8,351 _______________ (1) Our crude oil marketing segment’s operating (losses) earnings included inventory valuation losses of $24.2 million and inventory liquidation gains of $4.5 million for the three months ended March 31, 2020 and 2019, respectively. (2) During the three months ended March 31, 2020, we had $0.1 million of property and equipment additions for leasehold improvements at our corporate headquarters, which is not attributed or allocated to any of our reporting segments.
Reconciliation of segment earnings to earnings before income taxes	Segment operating (losses) earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended 2020 2019 Segment operating (losses) earnings $ (17,046) $ 7,937 General and administrative (2,894) (2,684) Operating (losses) earnings (19,940) 5,253 Gain on dissolution of investment — 498 Interest income 365 656 Interest expense (150) (65) (Losses) Earnings before income taxes $ (19,725) $ 6,342
Identifiable assets by industry segment	Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Reporting segment: Marketing $ 81,887 $ 141,402 Transportation 56,933 58,483 Cash and other 114,836 130,957 Total assets $ 253,656 $ 330,842

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Activities with affiliates	Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Affiliate billings to us $ 17 $ 17 Billings to affiliates 1 1 Rentals paid to affiliate 122 122

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives reflected in the consolidated balance sheet	The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheet were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2020 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 545 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 526 — Less counterparty offsets — — — — As reported fair value contracts $ 545 $ — $ 526 $ — December 31, 2019 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ — $ —
Derivatives reflected in the consolidated statement of operations	Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2020 2019 Revenues – marketing $ 19 $ (20)
Fair value assets and liabilities	The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2020 Derivatives: Current assets $ — $ 545 $ — $ — $ 545 Current liabilities — (526) — — (526) Net value $ — $ 19 $ — $ — $ 19 December 31, 2019 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — — — — — Net value $ — $ — $ — $ — $ —

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Arrangement	Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Compensation expense $ 134 $ 123
Share-based Compensation, Activity	The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2020 18,782 $ 37.05 Granted (2) 20,346 $ 24.85 Vested (217) $ 37.61 Forfeited (282) $ 37.61 Restricted stock unit awards at March 31, 2020 38,629 $ 30.62 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during 2020 was $0.5 million based on a grant date market price of our common shares ranging from $24.77 to $26.23 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $0.7 million at March 31, 2020. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.7 years. Performance Share Unit Awards The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2020 2,787 $ 43.00 Granted (2) 10,781 $ 24.92 Vested — $ — Forfeited (27) $ 43.00 Performance share unit awards at March 31, 2020 13,541 $ 28.60 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Cash paid for interest $ 150 $ 65 Cash paid for federal and state income taxes 21 5 Non-cash transactions: Change in accounts payable related to property and equipment additions 1,129 (683) Property and equipment acquired under finance leases — 556

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Lease, Cost	The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Finance lease cost: Amortization of ROU assets $ 553 $ 245 Interest on lease liabilities 74 45 Operating lease cost 679 862 Short-term lease cost 2,503 1,965 Total lease expense $ 3,809 $ 3,117 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2020 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 678 $ 861 Operating cash flows from finance leases 105 30 Financing cash flows from finance leases 532 218 ROU assets obtained in exchange for new lease liabilities: Finance leases — 556 Operating leases 81 11,410 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2020 2019 Weighted-average remaining lease term (years): Finance leases 2.78 4.21 Operating leases 4.58 5.41 Weighted-average discount rate: Finance leases 4.9 % 4.7 % Operating leases 5.0 % 5.0 %
Assets And Liabilities, Lessee	The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2020 2019 Assets Finance lease ROU assets (1) $ 5,830 $ 6,384 Operating lease ROU assets 9,090 9,576 Liabilities Current Finance lease liabilities 2,193 2,167 Operating lease liabilities 2,203 2,252 Noncurrent Finance lease liabilities 3,818 4,376 Operating lease liabilities 6,887 7,323 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
Lessee, Operating Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2020 (in thousands): Finance Operating Lease Lease Remainder of 2020 $ 1,818 $ 2,007 2021 2,426 2,285 2022 1,492 1,942 2023 642 1,778 2024 39 1,668 Thereafter — 443 Total lease payments 6,417 10,123 Less: Interest (406) (1,033) Present value of lease liabilities 6,011 9,090 Less: Current portion of lease obligation (2,193) (2,203) Total long-term lease obligation $ 3,818 $ 6,887
Finance Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2020 (in thousands): Finance Operating Lease Lease Remainder of 2020 $ 1,818 $ 2,007 2021 2,426 2,285 2022 1,492 1,942 2023 642 1,778 2024 39 1,668 Thereafter — 443 Total lease payments 6,417 10,123 Less: Interest (406) (1,033) Present value of lease liabilities 6,011 9,090 Less: Current portion of lease obligation (2,193) (2,203) Total long-term lease obligation $ 3,818 $ 6,887
Schedule of Principal Contractual Commitments Outstanding Under Capital Leases	The following table provides maturities of undiscounted lease liabilities at December 31, 2019 (in thousands): Finance Operating Lease Lease 2020 $ 2,426 $ 2,660 2021 2,426 2,256 2022 1,492 1,914 2023 642 1,776 2024 37 1,668 Thereafter — 443 Total lease payments 7,023 10,717 Less: Interest (480) (1,142) Present value of lease liabilities 6,543 9,575 Less: Current portion of lease obligation (2,167) (2,252) Total long-term lease obligation $ 4,376 $ 7,323
Schedule of Principal Contractual Commitments Outstanding Under Operating Leases	The following table provides maturities of undiscounted lease liabilities at December 31, 2019 (in thousands): Finance Operating Lease Lease 2020 $ 2,426 $ 2,660 2021 2,426 2,256 2022 1,492 1,914 2023 642 1,776 2024 37 1,668 Thereafter — 443 Total lease payments 7,023 10,717 Less: Interest (480) (1,142) Present value of lease liabilities 6,543 9,575 Less: Current portion of lease obligation (2,167) (2,252) Total long-term lease obligation $ 4,376 $ 7,323

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of expenses and losses incurred but not reported and accrued workers' compensation	The amount of pre-funded insurance premiums left to cover potential future losses related to periods prior to October 1, 2017, and our accruals for automobile and workers’ compensation claims were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Pre-funded premiums for losses incurred but not reported $ 58 $ 168 Accrued automobile and workers’ compensation claims 3,170 2,956
Schedule of accrued medical claims	Medical accrual amounts were as follows at the dates indicated (in thousands): March 31, December 31, 2020 2019 Accrued medical claims $ 1,329 $ 1,016

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2020segmentstate
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates | state	48
Number of operating segments	2
Number of reportable segments	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Reconciliation of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 87,398	$ 112,994
Restricted cash	8,827	9,261
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows	$ 96,225	$ 122,255	$ 130,893	$ 117,066

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Common Shares Outstanding (Details)	3 Months Ended
	Mar. 31, 2020shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	4,235,533
Vesting of restricted stock unit awards (in shares)	217
Ending balance (in shares)	4,235,750

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Reconciliation of Basic and Diluted Earnings (Losses) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Basic earnings per share:
Net (losses) earnings	$ (11,427)	$ 4,908
Basic weighted average number of shares outstanding (in shares)	4,236	4,218
Basic earnings per share (in dollars per share)	$ (2.70)	$ 1.16
Diluted weighted average number of shares outstanding:
Basic weighted average number of shares outstanding (in shares)	4,236	4,218
Total (in shares)	4,250	4,224
Diluted earnings per share (in dollars per share)	$ (2.69)	$ 1.16
Restricted stock unit awards
Diluted weighted average number of shares outstanding:
Unit awards	12	6
Performance Unit Awards
Diluted weighted average number of shares outstanding:
Unit awards	2	0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Inventory and Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
CARES Act, cash benefits	$ 6,400,000
Inventory write-down	$ 24,200,000	$ 0
Minimum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	39 years

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 335,973	$ 376,138
Total revenues	353,477	445,168
Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	319,717	360,731
Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16,256	15,407
Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	335,973	376,138
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	17,504	69,030
Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	319,717	360,731
Total revenues	337,221	429,761
Marketing | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	319,717	360,731
Marketing | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Marketing | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	319,717	360,731
Marketing | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	17,504	69,030
Transportation
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16,256	15,407
Total revenues	16,256	15,407
Transportation | Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Transportation | Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16,256	15,407
Transportation | Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16,256	15,407
Transportation | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0

Revenue Recognition - Other Rev

Revenue Recognition - Other Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues from contracts with customers	$ 335,973	$ 376,138
Accounting Standards Update 2014-09 | Revenue gross-up
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues from contracts with customers	$ 157,439	$ 242,123

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance premiums	$ 346	$ 473
Rents, licenses and other	960	1,086
Total	$ 1,306	$ 1,559

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 161,744		$ 164,244
Less accumulated depreciation	(96,363)		(95,198)
Property and equipment, net	65,381		69,046
Total depreciation and amortization	$ 4,473	$ 3,589
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Assets not held under finance eases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	$ 3,920	3,344
Assets held under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	553	$ 245
Tractors and trailers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 116,509		115,693
Tractors and trailers | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Tractors and trailers | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Tractors and trailers | Assets held under finance leases
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,500		5,500
Less accumulated depreciation	(2,000)		(1,700)
Field equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 25,149		25,094
Field equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Field equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Field equipment | Assets held under finance leases
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,300		3,300
Less accumulated depreciation	(1,000)		(700)
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 16,055		16,055
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,958		1,951
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,790		1,790
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 283		$ 3,661

Cash Deposits and Other Asset_2

Cash Deposits and Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance collateral deposits	$ 709	$ 1,233
Excess loss fund	620	943
Accumulated interest income	332	609
State collateral deposits	33	37
Materials and supplies	493	477
Total	$ 2,187	$ 3,299

Segment Reporting - Information

Segment Reporting - Information Concerning Business Activities (Details)	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Number of operating segments | segment	2
Segment Reporting Information [Line Items]
Revenues	$ 353,477,000	$ 445,168,000
Segment operating (losses) earnings	(19,940,000)	5,253,000
Depreciation and amortization	4,473,000	3,589,000
Property and equipment additions	2,212,000	8,351,000
Property and equipment acquired under finance leases		600,000
Leasehold Improvements
Segment Reporting Information [Line Items]
Property and equipment additions	100,000
Marketing
Segment Reporting Information [Line Items]
Revenues	337,221,000	429,761,000
Depreciation and amortization	2,007,000	2,122,000
Property and equipment additions	2,032,000	1,654,000
Inventory liquidation (losses) gains	(24,200,000)	4,500,000
Transportation
Segment Reporting Information [Line Items]
Revenues	16,256,000	15,407,000
Depreciation and amortization	2,466,000	1,467,000
Property and equipment additions	41,000	6,697,000
Other
Segment Reporting Information [Line Items]
Revenues	0	0
Depreciation and amortization	0	0
Property and equipment additions	139,000	0
Operating Segments
Segment Reporting Information [Line Items]
Segment operating (losses) earnings	(17,046,000)	7,937,000
Operating Segments | Marketing
Segment Reporting Information [Line Items]
Segment operating (losses) earnings	(17,651,000)	7,098,000
Operating Segments | Transportation
Segment Reporting Information [Line Items]
Segment operating (losses) earnings	605,000	839,000
Operating Segments | Other
Segment Reporting Information [Line Items]
Segment operating (losses) earnings	0	0
Intersegment
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Earnings to Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	$ (19,940)	$ 5,253
Gain on dissolution of investment	0	498
Interest income	365	656
Interest expense	(150)	(65)
(Losses) Earnings before income taxes	(19,725)	6,342
Operating Segments
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	(17,046)	7,937
General and administrative
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	(2,894)	(2,684)
Segment reconciling items
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Gain on dissolution of investment	0	498
Interest income	365	656
Interest expense	$ (150)	$ (65)

Segment Reporting - Identifiabl

Segment Reporting - Identifiable Assets by Industry Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reconciliation [Abstract]
Total assets	$ 253,656	$ 330,842
Operating Segments
Segment Reconciliation [Abstract]
Total assets	253,656	330,842
Operating Segments | Marketing
Segment Reconciliation [Abstract]
Total assets	81,887	141,402
Operating Segments | Transportation
Segment Reconciliation [Abstract]
Total assets	56,933	58,483
Cash and other
Segment Reconciliation [Abstract]
Total assets	$ 114,836	$ 130,957

Transactions with Affiliates (D

Transactions with Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Transactions with Affiliates [Abstract]
Billings to affiliates	$ 335,973	$ 376,138
Affiliated entities
Transactions with Affiliates [Abstract]
Affiliate billings to us	17	17
Billings to affiliates	1	1
Rentals paid to affiliate	$ 122	$ 122

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Measurements - Narrative (Details) - Commodity Contract	3 Months Ended	12 Months Ended
	Mar. 31, 2020barrel_of_oil_per_daycontract	Dec. 31, 2019barrel_of_oil_per_daycontract
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held | contract	4	6
April 2020
Derivative Instruments, Gain (Loss) [Line Items]
Production	322
May 2020 through December 2020
Derivative Instruments, Gain (Loss) [Line Items]
Production	258	258
January 2020 through February 2020
Derivative Instruments, Gain (Loss) [Line Items]
Production		258
March 2020 through April 2020
Derivative Instruments, Gain (Loss) [Line Items]
Production		322

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Measurements - Use of Derivative Instruments (Details) - Commodity Contract - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 545	$ 0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	545	0
Other Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	0	0
Current Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	526	0
Less counterparty offsets	0	0
As reported fair value contracts	526	0
Other Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	$ 0	$ 0

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Measurements - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues – marketing | Not Designated as Hedging Instrument | Commodity Contract
Derivative [Line Items]
Gain (loss) on derivative	$ 19	$ (20)

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Measurements - Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivatives:
Current assets	$ 545	$ 0
Current assets, counterparty offsets	0	0
Current liabilities	(526)	0
Current liabilities, counterparty offsets	0	0
Net value	19	0
Net value, counterparty offsets	0	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	0	0
Significant Other Observable Inputs (Level 2)
Derivatives:
Current assets	545	0
Current liabilities	(526)	0
Net value	19	0
Significant Unobservable Inputs (Level 3)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	$ 0	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan (Details) - The 2018 LTIP - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	May 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	79,228			150,000
Compensation expense	$ 134,000	$ 123,000
Accrued dividends	$ 28,800		$ 23,600
Restricted stock unit awards
Number of Shares
Unit awards, beginning balance (in shares)	18,782
Granted (in shares)	20,346
Vested (in shares)	(217)
Forfeited (in shares)	(282)
Unit awards, ending balance (in shares)	38,629
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 37.05
Granted (in dollars per share)	24.85
Vested (in dollars per share)	37.61
Forfeited (in dollars per share)	37.61
Unit awards, ending balance (in dollars per share)	$ 30.62
Aggregate grant date fair value awards issues	$ 500,000
Unrecognized compensation cost	$ 700,000
Period for recognition for remaining compensation cost	1 year 8 months 12 days
Restricted stock unit awards | Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 24.77
Restricted stock unit awards | Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 26.23
Performance Unit Awards
Number of Shares
Unit awards, beginning balance (in shares)	2,787
Granted (in shares)	10,781
Vested (in shares)	0
Forfeited (in shares)	(27)
Unit awards, ending balance (in shares)	13,541
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 43
Granted (in dollars per share)	24.92
Vested (in dollars per share)	0
Forfeited (in dollars per share)	43
Unit awards, ending balance (in dollars per share)	$ 28.60
Aggregate grant date fair value awards issues	$ 200,000
Performance factor	100000.00%
Unrecognized compensation cost	$ 300,000
Period for recognition for remaining compensation cost	2 years 8 months 12 days
Performance Unit Awards | Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 24.77
Performance Unit Awards | Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 26.23

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 150	$ 65
Cash paid for federal and state income taxes	21	5
Non-cash transactions:
Change in accounts payable related to property and equipment additions	1,129	(683)
Property and equipment acquired under finance leases	$ 0	$ 556

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Lease, Cost [Abstract]
Amortization of ROU assets	$ 553	$ 245
Interest on lease liabilities	74	45
Operating lease cost	679	862
Short-term lease cost	2,503	1,965
Total lease expense	3,809	3,117
Operating cash flows from operating leases	678	861
Operating cash flows from finance leases	105	30
Financing cash flows from finance leases	532	218
ROU assets obtained in exchange for new lease liabilities, Finance leases	0	556
ROU assets obtained in exchange for new lease liabilities, Operating leases	$ 81	$ 11,410
Weighted-average remaining lease term (years), Finance leases	2 years 9 months 10 days	4 years 2 months 15 days
Weighted-average remaining lease term (years), Operating leases	4 years 6 months 29 days	5 years 4 months 28 days
Weighted-average discount rate, Finance leases	4.90%	4.70%
Weighted-average discount rate, Operating leases	5.00%	5.00%
Assets and Liabilities, Lessee [Abstract]
Finance lease ROU assets	$ 5,830		$ 6,384
Operating lease ROU assets	9,090		9,576
Finance lease liabilities, Current	2,193		2,167
Operating lease liabilities, Current	2,203		2,252
Finance lease liabilities, Noncurrent	3,818		4,376
Operating lease liabilities, Noncurrent	6,887		7,323
Finance Lease Liabilities, Payments
Remainder of 2020	1,818
2021	2,426
2022	1,492
2023	642
2024	39
Thereafter	0
Total lease payments	6,417
Less: Interest	(406)
Present value of lease liabilities	6,011
Less: Current portion of lease obligation	(2,193)		(2,167)
Finance lease obligations	3,818		4,376
Operating Lease Liabilities, Payments Due
Remainder of 2020	2,007
2021	2,285
2022	1,942
2023	1,778
2024	1,668
Thereafter	443
Total lease payments	10,123
Less: Interest	(1,033)		(1,142)
Present value of lease liabilities	9,090		9,575
Less: Current portion of lease obligation	(2,203)		(2,252)
Total long-term lease obligation	$ 6,887		7,323
Capital Lease Maturities
2019			2,426
2020			2,426
2021			1,492
2022			642
2023			37
Thereafter			0
Total lease payments			7,023
Less: Interest			(480)
Present value of lease liabilities			6,543
Less: Current portion of lease obligation			(2,167)
Total long-term lease obligation			4,376
Operating Lease Maturities
2019			2,660
2020			2,256
2021			1,914
2022			1,776
2023			1,668
Thereafter			443
Total lease payments			$ 10,717

Commitments and Contingencies -

Commitments and Contingencies - Pre-funded Insurance (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Pre-funded premiums for losses incurred but not reported	$ 58	$ 168
Accrued automobile and workers’ compensation claims	$ 3,170	$ 2,956

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Accrued Medical Claims (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Aug. 15, 2019
Commitments and Contingencies Disclosure [Abstract]
Umbrellas insurance coverage	$ 1,400
Aggregate medical claims for umbrella insurance coverage per calendar year	7,500
Accrued medical claims	$ 1,329	$ 1,016
Income tax examination, proposed penalty			$ 1,200