v3.26.3
Leases
 9 Months Ended
Sep. 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 incremental borrowing 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 under 1 year to 10 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 certain that the Partnership will exercise the extension options.
    
    The components of lease expense for the three and nine months ended September 30, 2026 and 2025, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Operating lease cost$7,190 $6,852 $21,481 $19,485 
Finance lease cost:
     Amortization of right-of-use assets$4 $4 12 12 
     Interest on lease liabilities1 1 3 3 
Short-term lease cost2,126 1,369 5,601 4,225 
Variable lease cost25 45 77 137 
Total lease cost$9,346 $8,271 $27,174 $23,862 
    
Supplemental balance sheet information related to leases at September 30, 2026 and December 31, 2025, was as follows:
September 30,
2026		December 31, 2025
Operating Leases
Operating lease right-of-use assets$58,571 $69,938 
Current portion of operating lease liabilities included in "Other accrued liabilities"$22,090 $22,043 
Operating lease liabilities36,785 48,353 
     Total operating lease liabilities$58,875 $70,396 
Finance Leases
Property, plant and equipment, at cost$77 $77 
Accumulated depreciation(38)(26)
Property, plant and equipment, net$39 $51 
Current installments of finance lease obligations$16 $15 
Finance lease obligations26 39 
Total finance lease obligations$42 $54 

For the nine months ended September 30, 2026, the Partnership incurred new operating leases, primarily related to marine and 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 September 30, 2026, consist of the following:
Operating Leases
Remainder of 2026$6,971 
202724,010 
202816,975 
202910,076 
20305,121 
Thereafter3,125 
     Total66,278 
     Less amounts representing interest costs(7,403)
Total lease liability$58,875 
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 incremental borrowing 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 under 1 year to 10 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 certain that the Partnership will exercise the extension options.
    
    The components of lease expense for the three and nine months ended September 30, 2026 and 2025, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Operating lease cost$7,190 $6,852 $21,481 $19,485 
Finance lease cost:
     Amortization of right-of-use assets$4 $4 12 12 
     Interest on lease liabilities1 1 3 3 
Short-term lease cost2,126 1,369 5,601 4,225 
Variable lease cost25 45 77 137 
Total lease cost$9,346 $8,271 $27,174 $23,862 
    
Supplemental balance sheet information related to leases at September 30, 2026 and December 31, 2025, was as follows:
September 30,
2026		December 31, 2025
Operating Leases
Operating lease right-of-use assets$58,571 $69,938 
Current portion of operating lease liabilities included in "Other accrued liabilities"$22,090 $22,043 
Operating lease liabilities36,785 48,353 
     Total operating lease liabilities$58,875 $70,396 
Finance Leases
Property, plant and equipment, at cost$77 $77 
Accumulated depreciation(38)(26)
Property, plant and equipment, net$39 $51 
Current installments of finance lease obligations$16 $15 
Finance lease obligations26 39 
Total finance lease obligations$42 $54 

For the nine months ended September 30, 2026, the Partnership incurred new operating leases, primarily related to marine and 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 September 30, 2026, consist of the following:
Operating Leases
Remainder of 2026$6,971 
202724,010 
202816,975 
202910,076 
20305,121 
Thereafter3,125 
     Total66,278 
     Less amounts representing interest costs(7,403)
Total lease liability$58,875