SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

The Partnership’s operations are comprised of operating segments, which are strategic business units that offer different services in various geographical locations. PBFX has evaluated the performance of each operating segment based on its respective operating income. The operating segments adhere to the accounting polices used for the condensed consolidated financial statements, as described in Note 2 “Summary of Accounting Policies” of the Notes to Consolidated Financial Statements in the 2021 Form 10-K.

The Partnership’s operating segments are organized into two reportable segments: (i) Transportation and Terminaling and (ii) Storage. Operations that are not included in either the Transportation and Terminaling or the Storage segments are included in Corporate. The Partnership does not have any foreign operations.

The Partnership’s Transportation and Terminaling segment consists of operating segments that include product terminals, pipelines, crude unloading facilities and other facilities capable of transporting and handling crude oil, refined products and natural gas. The Partnership’s Storage segment consists of operating segments that include storage and other facilities capable of processing crude oil and handling crude oil, refined products and intermediates.

Revenue is generated from third-party transactions as well as commercial agreements entered into with PBF Holding under which the Partnership receives fees for transportation, terminaling, storage and processing services. The commercial agreements with PBF Holding are described in Note 10 “Related Party Transactions” of the Notes to Condensed Consolidated Financial Statements. Certain general and administrative expenses and interest and financing costs are included in Corporate as they are not directly attributable to a specific reporting segment. Identifiable assets are those used by the operating segments, whereas assets included in Corporate are principally cash, deposits and other assets that are not associated with operations.


	Three Months Ended September 30, 2022
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total revenue	$	72,275	$	17,297	$	—	$	89,572
Depreciation and amortization	6,923		2,058		—		8,981
Income (loss) from operations	43,651		6,541		(5,509)		44,683
Other expense	—		—		9,744		9,744
Capital expenditures	1,039		445		—		1,484


	Three Months Ended September 30, 2021
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total revenue	$	69,718	$	19,135	$	—	$	88,853
Depreciation and amortization	7,613		2,174		—		9,787
Income (loss) from operations	42,744		8,296		(3,902)		47,138
Other expense	—		—		10,456		10,456
Capital expenditures	3,281		102		—		3,383


	Nine Months Ended September 30, 2022
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total revenue	$	213,241	$	59,140	$	—	$	272,381
Depreciation and amortization	21,440		6,171		—		27,611
Income (loss) from operations	128,843		27,684		(16,102)		140,425
Other expense	—		—		30,006		30,006
Capital expenditures	3,612		1,010		—		4,622


	Nine Months Ended September 30, 2021
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total revenue	$	211,903	$	54,293	$	—	$	266,196
Depreciation and amortization	21,953		6,515		—		28,468
Income (loss) from operations	134,801		22,602		(14,592)		142,811
Other expense	—		—		31,822		31,822
Capital expenditures	6,590		302		—		6,892


	Balance at September 30, 2022
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total assets	$	648,091	$	183,576	$	36,554	$	868,221


	Balance at December 31, 2021
	Transportation and Terminaling		Storage		Corporate		Consolidated Total
Total assets	$	688,005	$	188,393	$	24,899	$	901,297

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

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