| Schedule of Segment Reporting Information, by Segment |
Segment information for the periods presented below was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Offshore pipeline transportation | | Marine transportation | | Onshore transportation and services | | Total | | Three Months Ended June 30, 2026 | | | | | | | | | Revenues: | | | | | | | | | External Customers | $ | 157,508 | | | $ | 80,943 | | | $ | 293,544 | | | $ | 531,995 | | Intersegment Revenue(1) | 2,639 | | | — | | | (2,639) | | | — | | Total revenues of reportable segments(2) | $ | 160,147 | | | $ | 80,943 | | | $ | 290,905 | | | $ | 531,995 | | | Segment Operating Expenses | (41,904) | | | (55,499) | | | (65,296) | | | (162,699) | | | Segment Product Costs | — | | | — | | | (198,716) | | | (198,716) | | Other Segment Items(3) | (2,618) | | | 205 | | | 1,315 | | | (1,098) | | Segment Margin(4) | $ | 115,625 | | | $ | 25,649 | | | $ | 28,208 | | | $ | 169,482 | | | | | | | | | | | Three Months Ended June 30, 2025 | | | | | | | | | Revenues: | | | | | | | | | External Customers | $ | 125,128 | | | $ | 79,617 | | | $ | 172,603 | | | $ | 377,348 | | Intersegment Revenue(1) | 242 | | | — | | | (242) | | | — | | Total revenues of reportable segments(2) | $ | 125,370 | | | $ | 79,617 | | | $ | 172,361 | | | $ | 377,348 | | | Segment Operating Expenses | (35,979) | | | (49,977) | | | (60,549) | | | (146,505) | | | Segment Product Costs | — | | | — | | | (92,479) | | | (92,479) | | Other Segment Items(3) | (1,797) | | | 177 | | | (875) | | | (2,495) | | Segment Margin(4) | $ | 87,594 | | | $ | 29,817 | | | $ | 18,458 | | | $ | 135,869 | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | | | | | Revenues: | | | | | | | | | External Customers | $ | 304,924 | | | $ | 160,988 | | | $ | 512,638 | | | $ | 978,550 | | Intersegment Revenue(1) | 2,504 | | | — | | | (2,504) | | | — | | Total revenues of reportable segments(2) | $ | 307,428 | | | $ | 160,988 | | | $ | 510,134 | | | $ | 978,550 | | | Segment Operating Expenses | (85,074) | | | (107,620) | | | (123,421) | | | (316,115) | | | Segment Product Costs | — | | | — | | | (338,809) | | | (338,809) | | Other Segment Items(3) | 359 | | | 198 | | | 1,739 | | | 2,296 | | Segment Margin(4) | $ | 222,713 | | | $ | 53,566 | | | $ | 49,643 | | | $ | 325,922 | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | | | | | | | Revenues: | | | | | | | | | External Customers | $ | 234,015 | | | $ | 160,261 | | | $ | 381,383 | | | $ | 775,659 | | Intersegment Revenue(1) | 242 | | | — | | | (242) | | | — | | Total revenues of reportable segments(2) | $ | 234,257 | | | $ | 160,261 | | | $ | 381,141 | | | $ | 775,659 | | | Segment Operating Expenses | (68,915) | | | (100,866) | | | (128,558) | | | (298,339) | | | Segment Product Costs | — | | | — | | | (220,170) | | | (220,170) | | Other Segment Items(3) | (1,200) | | | 443 | | | 871 | | | 114 | | Segment Margin(4) | $ | 164,142 | | | $ | 59,838 | | | $ | 33,284 | | | $ | 257,264 | |
(1)Intersegment sales were conducted under terms that we believe were no more or less favorable than then-existing market conditions. (2)Total revenues of reportable segments in the table above agrees to “Total revenues” as seen in our Unaudited Condensed Consolidated Statements of Operations for each respective period. (3)Other Segment Items primarily includes adjustments related to the difference in timing of cash receipts for certain contractual agreements (applicable to our offshore pipeline transportation and onshore transportation and services segments), segment general and administrative expenses less the non-cash effects of our LTIP plan (applicable to all reportable segments), net effects of our noncontrolling interests (applicable to our offshore pipeline transportation segment), adjustments to include distributable cash generated by our equity investees (applicable to our offshore pipeline transportation and onshore transportation and services segments), and unrealized gains and losses from the valuation of our commodity derivative transactions (excluding fair value hedges) (applicable to our offshore pipeline transportation and onshore transportation and services segments). (4)A reconciliation of Income (loss) from continuing operations before income taxes to total Segment Margin for the periods is presented below. Total assets by reportable segment were as follows: | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Offshore pipeline transportation | $ | 2,654,973 | | $ | 2,755,595 | | Marine transportation | 582,248 | | 618,474 | | Onshore transportation and services | 942,296 | | 1,452,971 | | Total reportable segment assets | $ | 4,179,517 | | $ | 4,827,040 | Other assets(1) | 1,233,240 | | 33,663 | | Total consolidated assets | $ | 5,412,757 | | $ | 4,860,703 |
(1) For the six months ended June 30, 2026, certain of the receivables from our wholly-owned subsidiaries in our reportable segments were sold to our wholly-owned subsidiary, Genesis AR LLC, a consolidated and bankruptcy-remote special purpose corporate entity created for the sole purpose of transacting under the AR Facility (see Note 10). Total growth and maintenance capital expenditures for fixed and intangible assets (including enhancements to existing facilities and construction of growth projects as well as contributions to equity investees) by reportable segment for the six months ended June 30, 2026 and 2025 were as follows: | | | | | | | | | | | | | | | | | | | Six Months Ended
June 30, | | | | | | 2026 | | 2025 | Offshore pipeline transportation(1) | | | | | $ | 19,077 | | | $ | 59,136 | | | Marine transportation | | | | | 39,401 | | | 29,452 | | | Onshore transportation and services | | | | | 7,564 | | | 4,575 | | | Total reportable segment capital expenditures | | | | | $ | 66,042 | | | $ | 93,163 | | | Other | | | | | 1,580 | | | 654 | | | Total consolidated capital expenditures | | | | | $ | 67,622 | | | $ | 93,817 | |
(1)Capital expenditures in our offshore pipeline transportation segment for the six months ended June 30, 2026 and 2025 represent 100% of the costs incurred, including those funded by our noncontrolling interest holder.
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| Reconciliation of Segment Margin to (Loss) Income from Continuing Operations |
Reconciliation of Income (loss) from continuing operations before income taxes to total Segment Margin: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Income (loss) from continuing operations before income taxes | $ | 56,812 | | | $ | 10,356 | | | $ | 76,069 | | | $ | (26,061) | | | Net income attributable to noncontrolling interests | (13,746) | | | (10,417) | | | (26,091) | | | (19,186) | | | | | | | | | | | Corporate general and administrative expenses | 19,923 | | | 15,068 | | | 37,161 | | | 56,744 | | | Depreciation, amortization and accretion | 65,337 | | | 59,011 | | | 126,485 | | | 118,022 | | | Interest expense, net | 66,954 | | | 60,754 | | | 134,932 | | | 130,792 | | Adjustment to include distributable cash generated by equity investees not included in income and exclude equity in investees net income(1) | 2,468 | | | 5,595 | | | 7,989 | | | 11,687 | | | Unrealized losses (gains) on derivative transactions excluding fair value hedges, net of changes in inventory value | (770) | | | (133) | | | 45 | | | (204) | | | Other non-cash items | (3,769) | | | (4,229) | | | (8,387) | | | (6,951) | | | | | | | | | | | | | | | | | | | Loss on extinguishment of debt | 30 | | | 8,935 | | | 3,570 | | | 9,779 | | Differences in timing of cash receipts for certain contractual arrangements(2) | (6,321) | | | (9,071) | | | (8,415) | | | (17,358) | | Gain on sale of assets(3) | (17,436) | | | — | | | (17,436) | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Segment Margin | $ | 169,482 | | | $ | 135,869 | | | $ | 325,922 | | | $ | 257,264 | |
(1)Includes distributions attributable to the quarter and received during or promptly following such quarter. (2)Includes the difference in timing of cash receipts from customers during the period and the revenue we recognize in accordance with GAAP on our related contracts. (3)During the three and six months ended June 30, 2026, we recognized a gain on the sale of assets of $17.4 million associated with the divestiture of certain non-core natural gas pipeline and platform assets within our offshore pipeline transportation segment (see Note 7).
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