v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases LEASES
    
    The Partnership has numerous operating leases primarily for terminal facilities and transportation and other equipment. The leases generally provide that all expenses related to the facilities and equipment are to be paid by the lessee.

    Operating lease Right-of-Use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Partnership's leases do not provide an implicit rate of return, the Partnership uses its imputed collateralized rate based on the information available at commencement date in determining the present value of lease payments. The estimated rate is based on a risk-free rate plus a risk-adjusted margin.

Our leases have remaining lease terms of 1 year to 11 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year. The Partnership includes extension periods in its lease term if, at commencement, it is reasonably likely that the Partnership will exercise the extension options.
    
    The components of lease expense for the three and six months ended June 30, 2026 and 2025, were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$7,103 $6,499 $14,291 $12,634 
Finance lease cost:
     Amortization of right-of-use assets$4 $4 8 8 
     Interest on lease liabilities1 1 2 2 
Short-term lease cost1,895 1,357 3,449 2,856 
Variable lease cost52 47 78 91 
Total lease cost$9,055 $7,908 $17,828 $15,591 
    
Supplemental balance sheet information related to leases at June 30, 2026 and December 31, 2025, was as follows:
June 30,
2026		December 31, 2025
Operating Leases
Operating lease right-of-use assets$63,470 $69,938 
Current portion of operating lease liabilities included in "Other accrued liabilities"$23,120 $22,043 
Operating lease liabilities40,609 48,353 
     Total operating lease liabilities$63,729 $70,396 
Finance Leases
Property, plant and equipment, at cost$77 $77 
Accumulated depreciation(34)(26)
Property, plant and equipment, net$43 $51 
Current installments of finance lease obligations$16 $15 
Finance lease obligations32 39 
Total finance lease obligations$48 $54 

For the six months ended June 30, 2026, the Partnership incurred new operating leases, primarily related to land transportation assets and renewed existing operating leases set to expire, primarily related to leased land and facilities.

The Partnership’s future minimum lease obligations as of June 30, 2026, consist of the following:
Operating Leases
Remainder of 2026$14,052 
202723,727 
202816,667 
20299,835 
20304,807 
Thereafter3,002 
     Total72,090 
     Less amounts representing interest costs(8,361)
Total lease liability$63,729 
Leases LEASES
    
    The Partnership has numerous operating leases primarily for terminal facilities and transportation and other equipment. The leases generally provide that all expenses related to the facilities and equipment are to be paid by the lessee.

    Operating lease Right-of-Use assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Partnership's leases do not provide an implicit rate of return, the Partnership uses its imputed collateralized rate based on the information available at commencement date in determining the present value of lease payments. The estimated rate is based on a risk-free rate plus a risk-adjusted margin.

Our leases have remaining lease terms of 1 year to 11 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year. The Partnership includes extension periods in its lease term if, at commencement, it is reasonably likely that the Partnership will exercise the extension options.
    
    The components of lease expense for the three and six months ended June 30, 2026 and 2025, were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$7,103 $6,499 $14,291 $12,634 
Finance lease cost:
     Amortization of right-of-use assets$4 $4 8 8 
     Interest on lease liabilities1 1 2 2 
Short-term lease cost1,895 1,357 3,449 2,856 
Variable lease cost52 47 78 91 
Total lease cost$9,055 $7,908 $17,828 $15,591 
    
Supplemental balance sheet information related to leases at June 30, 2026 and December 31, 2025, was as follows:
June 30,
2026		December 31, 2025
Operating Leases
Operating lease right-of-use assets$63,470 $69,938 
Current portion of operating lease liabilities included in "Other accrued liabilities"$23,120 $22,043 
Operating lease liabilities40,609 48,353 
     Total operating lease liabilities$63,729 $70,396 
Finance Leases
Property, plant and equipment, at cost$77 $77 
Accumulated depreciation(34)(26)
Property, plant and equipment, net$43 $51 
Current installments of finance lease obligations$16 $15 
Finance lease obligations32 39 
Total finance lease obligations$48 $54 

For the six months ended June 30, 2026, the Partnership incurred new operating leases, primarily related to land transportation assets and renewed existing operating leases set to expire, primarily related to leased land and facilities.

The Partnership’s future minimum lease obligations as of June 30, 2026, consist of the following:
Operating Leases
Remainder of 2026$14,052 
202723,727 
202816,667 
20299,835 
20304,807 
Thereafter3,002 
     Total72,090 
     Less amounts representing interest costs(8,361)
Total lease liability$63,729