Revenue |
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| Revenue | (7) Revenue The following table presents the Partnership’s revenue, disaggregated by major products:
(1)Consists primarily of freight revenue and includes sales made in connection with the joint venture created to monetize certain tax credits under Section 45Q of the Internal Revenue Code of 1986 (“45Q Transaction”), as well as the noncash consideration received, which is recognized as the performance obligation associated with a carbon oxide contract is satisfied over its term through April 2030. Remaining Performance Obligations The Partnership has spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). The Partnership does not disclose remaining performance obligations for contracts that had original terms of one year or less or for contracts where the variable consideration was entirely allocated to an unsatisfied performance obligation. As of June 30, 2026, the Partnership had approximately $1.9 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Partnership expects to recognize $1.5 million of these performance obligations as revenue by the end of 2026, an additional $0.3 million in 2027, and the remaining balance during 2028. Contract Balances During the six months ended June 30, 2026 and 2025, the Partnership recognized revenue of $19.3 million and $47.3 million, respectively, that was included in the deferred revenue balances as of December 31, 2025 and December 31, 2024, respectively. Accounts receivable from contracts with customers was $81.1 million and $57.9 million as of June 30, 2026 and December 31, 2025, respectively, including amounts billed to customers for which the related revenue is currently deferred.
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