As discussed in Note 1, at March 31, 2025, we met the criteria for classifying the assets and liabilities of our refined products business and biodiesel business as either held for sale or discontinued operations and the operations of these businesses as discontinued. Also, as discussed in Note 1 and Note 17, at March 31, 2025, we met the criteria for classifying a portion of our Liquids Logistics segment, certain railcars and certain investments in unconsolidated entities and related assets as held for sale. Upon classification as held for sale, we recorded a loss of $8.0 million to write down certain investments in unconsolidated entities and related assets to fair value less cost to sell within loss on disposal or impairment of assets, net in our consolidated statement of operations for the year ended March 31, 2025, and a valuation allowance included in assets held for sale in our March 31, 2025 consolidated balance sheet.


	Water Solutions		Crude Oil Logistics		Liquids Logistics		Total
Assets Held for Sale
Cash and cash equivalents	$	—	$	—	$	114	$	114
Accounts receivable, net	—		—		21,204		21,204
Inventories	—		—		20,715		20,715
Prepaid expenses and other current assets	—		—		5,098		5,098
Property, plant and equipment, net	412		1,350		51,349		53,111
Goodwill	—		—		17,051		17,051
Intangible assets, net	29,557		—		9,718		39,275
Investments in unconsolidated entities	18,221		—		51		18,272
Operating lease right-of-use assets	—		—		3,962		3,962
Other noncurrent assets	—		1,237		3,142		4,379
Valuation allowance on assets held for sale	(7,974)		—		—		(7,974)
Total assets held for sale	$	40,216	$	2,587	$	132,404	$	175,207

Liabilities Held for Sale
Accounts payable	$	—	$	—	$	32,072	$	32,072
Accrued expenses and other payables	—		—		4,650		4,650
Advance payments received from customers	—		—		259		259
Operating lease obligations-current	—		—		1,705		1,705
Operating lease obligations-noncurrent	—		—		2,233		2,233
Other noncurrent liabilities	94		—		1,090		1,184
Total liabilities held for sale	$	94	$	—	$	42,009	$	42,103


Assets of Discontinued Operations
Accounts receivable, net	$	67,350
Prepaid expenses and other current assets	82
Total assets of discontinued operations	$	67,432

Liabilities of Discontinued Operations
Accounts payable	$	48,454
Accrued expenses and other payables	4,295
Total liabilities of discontinued operations	$	52,749


	Year Ended March 31,
	2026		2025		2024
	(in thousands)
Revenues	$	148,081	$	2,253,294	$	2,803,264
Cost of sales	146,508		2,267,498		2,781,360
Operating expenses	463		4,865		5,580
General and administrative expenses (1)	(6)		197		256
Depreciation and amortization	—		223		409
(Gain) loss on disposal or impairment of assets, net	(38,290)		1,995		—
Operating income (loss) from discontinued operations	39,406		(21,484)		15,659
Interest expense	(5)		(225)		(119)
Other (expense) income, net	(45)		(7)		11
Income (loss) from discontinued operations before taxes	39,356		(21,716)		15,551
Income tax expense	(16)		(110)		(947)
Income (loss) from discontinued operations, net of tax	$	39,340	$	(21,826)	$	14,604