v3.24.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
REVENUE FROM OPERATIONS    
Revenues from operations $ 396,048 $ 487,504
COST OF GOODS SOLD    
Crude oil, fuel use, and chemicals 340,268 429,723
Other conversion costs 11,102 11,710
Total cost of goods sold 351,370 441,433
Gross profit 44,678 46,071
COST OF OPERATIONS    
LEH operating fee, related party 533 744
Other operating expenses 208 221
General and administrative expenses 3,134 2,915
Depreciation and amortization 2,798 2,798
Impairment of assets 1,558 114
Bad debt expense 0 62
Accretion of asset retirement obligations 59 134
Total cost of operations 8,290 6,988
Income from operations 36,388 39,083
OTHER INCOME (EXPENSE)    
Interest and other income 241 1
Interest and other expense (6,103) (5,885)
Total other income (expense) [1] (5,862) (5,884)
Income before income taxes 30,526 33,199
Income tax expense 485 (307)
Net Income $ 31,011 $ 32,892
Income per common share:    
Basic (in dollars per share) $ 2.08 $ 2.34
Diluted (in dollars per share) $ 2.08 $ 2.34
Weighted average number of common shares outstanding:    
Basic (in shares) 14,921,968 14,079,327
Diluted (in shares) 14,921,968 14,079,327
Refinery Operations [Member]    
REVENUE FROM OPERATIONS    
Revenues from operations $ 390,016 $ 483,061
Tolling and Terminaling [Member]    
REVENUE FROM OPERATIONS    
Revenues from operations $ 6,032 $ 4,443
[1] Corporate and other within interest and other non-operating expenses, net primarily reflects interest expense for the LE Amended and Restated Guaranty Fee Agreement, LRM Amended and Restated Guaranty Fee Agreement, June LEH Note, March Carroll Note, and March Ingleside Note. See “Note (3)” and “Note (15)” to our consolidated financial statements for additional information regarding guaranty fee agreements.