Adams Resources & Energy (AE) 10-Q9 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2023	May 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	1-07908
Entity Registrant Name	ADAMS RESOURCES & ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1753147
Entity Address, Address Line One	17 South Briar Hollow Lane
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77027
City Area Code	713
Local Phone Number	881-3600
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	AE
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,534,685
Entity Central Index Key	0000002178
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 42,135	$ 20,532
Restricted cash	8,847	10,535
Accounts receivable, net of allowance for doubtful accounts of $85 and $88, respectively	158,126	189,039
Inventory	22,275	26,919
Derivative assets	157	0
Prepayments and other current assets	3,028	3,118
Total current assets	234,568	250,143
Property and equipment, net	110,264	106,425
Operating lease right-of-use assets, net	7,414	7,720
Intangible assets, net	9,294	9,745
Goodwill	6,428	6,428
Other assets	3,595	3,698
Total assets	371,563	384,159
Current liabilities:
Accounts payable	191,704	204,391
Accounts payable – related party	0	31
Derivative liabilities	0	330
Current portion of finance lease obligations	5,221	4,382
Current portion of operating lease liabilities	2,821	2,712
Current portion of long-term debt	2,500	0
Other current liabilities	16,627	19,214
Total current liabilities	218,873	231,060
Other long-term liabilities:
Long-term debt	21,250	24,375
Asset retirement obligations	2,434	2,459
Finance lease obligations	18,677	12,085
Operating lease liabilities	4,595	5,007
Deferred taxes and other liabilities	14,579	15,996
Total liabilities	280,408	290,982
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock – $1.00 par value, 960,000 shares authorized, none outstanding	0	0
Common stock – $0.10 par value, 7,500,000 shares authorized, 2,534,685 and 2,495,484 shares outstanding, respectively	252	248
Contributed capital	20,571	19,965
Retained earnings	70,332	72,964
Total shareholders’ equity	91,155	93,177
Total liabilities and shareholders’ equity	$ 371,563	$ 384,159

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Allowance for doubtful accounts	$ 85	$ 88
Shareholders’ equity:
Preferred stock - par value (in dollars per share)	$ 1	$ 1
Preferred stock - shares authorized (in shares)	960,000	960,000
Preferred stock - shares outstanding (in shares)	0	0
Common stock - par value (in dollars per share)	$ 0.10	$ 0.10
Common stock - shares authorized (in shares)	7,500,000	7,500,000
Common stock - shares outstanding (in shares)	2,534,685	2,495,484

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenues	$ 650,162	$ 774,245
Costs and expenses:
General and administrative	4,772	4,018
Depreciation and amortization	7,050	5,013
Total costs and expenses	652,792	766,097
Operating (losses) earnings	(2,630)	8,148
Other income (expense):
Interest and other income	204	24
Interest expense	(696)	(114)
Total other (expense) income, net	(492)	(90)
(Losses) Earnings before income taxes	(3,122)	8,058
Income tax benefit (provision)	1,123	(1,968)
Net (losses) earnings	$ (1,999)	$ 6,090
(Losses) Earnings per share:
Basic net (losses) earnings per common share (in dollars per share)	$ (0.79)	$ 1.40
Diluted net (losses) earnings per common share (in dollars per share)	(0.79)	1.39
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24
Marketing
Revenues:
Total revenues	$ 608,476	$ 747,555
Costs and expenses:
Cost of goods and services sold	604,494	735,647
Transportation
Revenues:
Total revenues	26,445	26,690
Costs and expenses:
Cost of goods and services sold	22,413	20,865
Pipeline and storage
Revenues:
Total revenues	0	0
Costs and expenses:
Cost of goods and services sold	938	554
Logistics and repurposing
Revenues:
Total revenues	15,241	0
Costs and expenses:
Cost of goods and services sold	$ 13,125	$ 0

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net (losses) earnings	$ (1,999)	$ 6,090
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	7,050	5,013
Gains on sales of property	(31)	(491)
Provision for doubtful accounts	(3)	(5)
Stock-based compensation expense	283	195
Deferred income taxes	(1,424)	561
Net change in fair value contracts	(487)	(20)
Changes in assets and liabilities:
Accounts receivable	30,916	(74,660)
Accounts receivable/payable, affiliates	(31)	48
Inventories	4,644	(23,440)
Income tax receivable	0	1,284
Prepayments and other current assets	90	684
Accounts payable	(12,653)	91,211
Accrued liabilities	(2,514)	(775)
Other	(134)	178
Net cash provided by operating activities	23,707	5,873
Investing activities:
Property and equipment additions	(1,900)	(3,694)
Proceeds from property sales	441	856
Net cash used in investing activities	(1,459)	(2,838)
Financing activities:
Borrowings under Credit Agreement	18,000	0
Repayments under Credit Agreement	(18,625)	0
Principal repayments of finance lease obligations	(1,576)	(1,139)
Net proceeds from sale of equity	549	0
Dividends paid on common stock	(681)	(1,068)
Net cash used in financing activities	(2,333)	(2,207)
Increase in cash and cash equivalents, including restricted cash	19,915	828
Cash and cash equivalents, including restricted cash, at beginning of period	31,067	107,317
Cash and cash equivalents, including restricted cash, at end of period	$ 50,982	$ 108,145

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Contributed Capital	Retained Earnings
Beginning balance at Dec. 31, 2021	$ 160,386	$ 433	$ 16,913	$ 143,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	6,090			6,090
Stock-based compensation expense	195		195
Vesting of restricted awards	0	2	(2)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(86)		(86)
Dividends declared:
Common stock, $0.24/share	(1,048)			(1,048)
Awards under LTIP, $0.24/share	(16)			(16)
Ending balance at Mar. 31, 2022	165,521	435	17,020	148,066
Beginning balance at Dec. 31, 2022	93,177	248	19,965	72,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (losses) earnings	(1,999)			(1,999)
Stock-based compensation expense	283		283
Vesting of restricted awards	0	3	(3)
Cancellation of shares withheld to cover taxes upon vesting of restricted awards	(222)		(222)
Shares sold under at-the-market offering program	549	1	548
Dividends declared:
Common stock, $0.24/share	(608)			(608)
Awards under LTIP, $0.24/share	(25)			(25)
Ending balance at Mar. 31, 2023	$ 91,155	$ 252	$ 20,571	$ 70,332

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.24	$ 0.24
Awards under LTIP (in dollars per share)	$ 0.24	$ 0.24

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with twenty terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries. We operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. See Note 8 for further information regarding our business segments. Basis of Presentation Our results of operations for the three months ended March 31, 2023 are not necessarily indicative of results expected for the full year of 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the SEC on March 16, 2023. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Cash and cash equivalents $ 42,135 $ 20,532 Restricted cash: Collateral for outstanding letters of credit (1) 357 892 Captive insurance subsidiary (2) 8,490 9,643 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 50,982 $ 31,067 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit. (2) $1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder represents amounts paid to our captive insurance company for insurance premiums. Common Shares Outstanding The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2023 2,495,484 Vesting of restricted stock unit awards (see Note 13) 20,291 Vesting of performance share unit awards (see Note 13) 12,319 Shares withheld to cover taxes upon vesting of equity awards (8,089) Shares sold under at-the-market offering program 14,680 Balance, March 31, 2023 2,534,685 Earnings Per Share Basic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of common shares outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential common shares outstanding, including shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended and restated (“2018 LTIP”), or granted as employment inducement awards outside of the 2018 LTIP, are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 13 for further discussion). The calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2023 2022 (Losses) Earnings per share — numerator: Net (losses) earnings $ (1,999) $ 6,090 Denominator: Basic weighted average number of shares outstanding 2,517 4,359 Basic (losses) earnings per share $ (0.79) $ 1.40 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,517 4,359 Restricted stock unit awards (1) — 24 Performance share unit awards (1) (2) — 11 Total diluted shares 2,517 4,394 Diluted (losses) earnings per share $ (0.79) $ 1.39 _______________ (1) For the three months ended March 31, 2023, the effect of the restricted stock unit awards and the performance share unit awards on losses per share was anti-dilutive. (2) The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. Equity At-The-Market Offerings During the three months ended March 31, 2023, we received net proceeds of approximately $0.6 million (net of offering costs to B. Riley Securities, Inc. of $27 thousand) from the sale of 14,680 of our common shares at an average price per share of approximately $40.74 in at-the-market offerings under our At Market Issuance Sales Agreement with B. Riley Securities, Inc. dated December 23, 2020. Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. The fair value of the term loan under our credit agreement (see Note 11 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy. Fair value contracts consist of derivative financial instruments and are recorded as either an asset or liability measured at its fair value. Changes in fair value are recognized immediately in earnings unless the derivatives qualify for, and we elect, cash flow hedge accounting. We had no contracts designated for hedge accounting during any current reporting periods (see Note 12 for further information). Income Taxes Income taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis. Inventory Inventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage expenses on our consolidated statements of operations. Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows. See Note 5 for additional information regarding our property and equipment. Stock-Based Compensation We measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur. See Note 13 for additional information regarding our 2018 LTIP.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Crude Oil Marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 588,089 $ 736,034 Services transferred over time 44 — Total revenues from contracts with customers 588,133 736,034 Other (1) 20,343 11,521 Total crude oil marketing revenue $ 608,476 $ 747,555 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — Services transferred over time 26,445 26,690 Total revenues from contracts with customers 26,445 26,690 Other — — Total transportation revenue $ 26,445 $ 26,690 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — Services transferred over time — — Total revenues from contracts with customers — — Other — — Total pipeline and storage revenue $ — $ — Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 8,154 $ — Services transferred over time 7,087 — Total revenues from contracts with customers 15,241 — Other — — Total logistics and repurposing revenue $ 15,241 $ — Subtotal: Total revenues from contracts with customers $ 629,819 $ 762,724 Total other (1) 20,343 11,521 Total consolidated revenues $ 650,162 $ 774,245 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty . (2) All pipeline and storage revenue during the three months ended March 31, 2023 and 2022 was from an affiliated shipper, GulfMark Energy, Inc., our subsidiary, and was eliminated in consolidation. Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Certain of our crude oil contracts may be with a single counterparty to provide for similar quantities of crude oil to be bought and sold at different locations. These contracts are entered into for a variety of reasons, including effecting the transportation of the commodity, to minimize credit exposure, and/or to meet the competitive demands of the customer. These buy/sell arrangements are reflected on a net revenue basis in the accompanying unaudited condensed consolidated financial statements. Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Revenue gross-up $ 286,702 $ 307,386

Prepayments and Other Current A

Prepayments and Other Current Assets	3 Months Ended
Prepayments and Other Current Assets	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	Prepayments and Other Current Assets The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Insurance premiums $ 1,060 $ 1,220 Rents, licenses and other 1,968 1,898 Total prepayments and other current assets $ 3,028 $ 3,118

Property and Equipment

Property and Equipment	3 Months Ended
Property and Equipment	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2023 2022 Tractors and trailers 5 – 6 $ 126,789 $ 128,223 Field equipment 2 – 5 24,725 24,676 Finance lease ROU assets (1) 3 – 6 34,113 25,106 Pipeline and related facilities 20 – 25 20,362 20,362 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,189 16,163 Office equipment 2 – 5 2,964 2,937 Land N/A 2,309 2,309 Construction in progress N/A 4,284 3,629 Total 235,657 227,327 Less accumulated depreciation and amortization (125,393) (120,902) Property and equipment, net $ 110,264 $ 106,425 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 15 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $11.6 million and $9.9 million at March 31, 2023 and December 31, 2022, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Depreciation and amortization, excluding amounts under finance leases $ 4,824 $ 3,613 Amortization of property and equipment under finance leases 1,775 1,208 Amortization of intangible assets 451 192 Total depreciation and amortization $ 7,050 $ 5,013

Acquisition

Acquisition	3 Months Ended
Acquisition	Mar. 31, 2023
Business Combination, Description [Abstract]
Acquisition	Acquisition On August 12, 2022, we entered into a purchase agreement with each of Scott Bosard, Trey Bosard and Tyler Bosard (collectively, the “Sellers”) to acquire all of the equity interests of Firebird Bulk Carriers, Inc. (“Firebird”) and Phoenix Oil, Inc. (“Phoenix”) for approximately $39.3 million, consisting of a cash payment of $35.4 million, 45,777 of our common shares valued at $1.4 million, of which 15,259 shares were issued immediately and 30,518 shares will be issued over a three year period, and contingent consideration valued at approximately $2.6 million. We funded the cash consideration using cash on hand at the time of acquisition. Pursuant to the purchase agreement, the purchase price is subject to customary post-closing adjustment provisions, including an earn-out payable to the Sellers to the extent the earnings before interest, taxes, depreciation and amortization (EBITDA) of Phoenix exceeds a specified threshold during the twelve full calendar months after the closing date of the acquisition. Firebird is an interstate bulk motor carrier of crude oil, condensate, fuels, oils and other petroleum products. Firebird is headquartered in Humble, Texas, with six terminal locations throughout Texas, and operates 130 tractors and 209 trailers largely in the Eagle Ford basin. Phoenix is also headquartered in Humble, Texas, and recycles and repurposes off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Firebird and Phoenix have formed our new logistics and repurposing segment. We expect that this acquisition will offer us the opportunity to expand our value chain and market impact, with numerous synergies benefiting the combined companies. We accounted for the acquisition of Firebird and Phoenix under the acquisition method in accordance with ASC 805, Business Combinations. The allocation of purchase consideration was based upon the estimated fair value of the tangible and identifiable intangible assets acquired and liabilities assumed in the acquisition. The purchase price allocation is subject to revision as acquisition-date fair value analyses are completed and if additional information about facts and circumstances that existed at the acquisition date becomes available. The purchase price consideration, as well as the estimated fair values of the assets acquired and liabilities assumed, will be finalized as soon as practicable, but no later than one year from the closing of the acquisition. No changes to the purchase price allocation occurred during the first quarter of 2023. Unaudited Pro Forma Financial Information The unaudited pro forma condensed consolidated results of operations in the table below are provided for illustrative purposes only and summarize the combined results of our operations and those of Firebird and Phoenix. For purposes of this pro forma presentation, the acquisition of Firebird and Phoenix is assumed to have occurred on January 1, 2022. The pro forma financial information for all periods presented also includes the estimated business combination accounting effects resulting from this acquisition, notably amortization expense from the acquired intangible assets and certain other integration related impacts. This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on January 1, 2022, nor of the results of operations that may be obtained in the future (in thousands). Three Months Ended March 31, 2022 Revenues $ 792,984 Net earnings 9,725 Basic net earnings per common share $ 2.22 Diluted net earnings per common share $ 2.21

Other Assets

Other Assets	3 Months Ended
Other Assets	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Components of other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Insurance collateral deposits $ 503 $ 463 State collateral deposits 23 23 Materials and supplies 1,222 1,257 Debt issuance costs 1,511 1,595 Other 336 360 Total other assets $ 3,595 $ 3,698

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingWe operate and report in four business segments: (i) crude oil marketing, transportation and storage; (ii) tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk; (iii) pipeline transportation, terminalling and storage of crude oil; and (iv) interstate bulk transportation logistics of crude oil, condensate, fuels, oils and other petroleum products and recycling and repurposing of off-specification fuels, lubricants, crude oil and other chemicals. Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing (1) Other Total Three Months Ended March 31, 2023 Segment revenues (2) $ 608,476 $ 26,530 $ 809 $ 16,747 $ — $ 652,562 Less: Intersegment revenues (2) — (85) (809) (1506) — (2,400) Revenues $ 608,476 $ 26,445 $ — $ 15,241 $ — $ 650,162 Segment operating earnings (losses) (3) 1,907 901 (1,201) 535 — 2,142 Depreciation and amortization 2,075 3,131 263 1,581 — 7,050 Property and equipment additions (4) (5) 275 167 971 460 27 1,900 Three Months Ended March 31, 2022 Segment revenues (2) $ 747,555 $ 26,718 $ 897 $ — $ — $ 775,170 Less: Intersegment revenues (2) — (28) (897) — — (925) Revenues $ 747,555 $ 26,690 $ — $ — $ — $ 774,245 Segment operating earnings (losses) (3) 10,120 2,868 (822) — — 12,166 Depreciation and amortization 1,788 2,957 268 — — 5,013 Property and equipment additions (4) (5) 3,124 535 27 — 8 3,694 _______________ (1) On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment. (2) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (3) Our crude oil marketing segment’s operating earnings included inventory valuation losses of $1.0 million and inventory liquidation gains of $8.7 million for the three months ended March 31, 2023 and 2022, respectively. (4) Our segment property and equipment additions do not include assets acquired under finance leases during the three months ended March 31, 2023 and 2022. See Note 15 for further information. (5) Amounts included in property and equipment additions for Other are additions for computer equipment at our corporate headquarters, which were not attributed or allocated to any of our reporting segments. Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Segment operating earnings $ 2,142 $ 12,166 General and administrative (4,772) (4,018) Operating (losses) earnings (2,630) 8,148 Interest and other income 204 24 Interest expense (696) (114) (Losses) Earnings before income taxes $ (3,122) $ 8,058 Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Reporting segment: Crude oil marketing $ 183,972 $ 215,813 Transportation 61,115 60,405 Pipeline and storage 26,480 25,815 Logistics and repurposing 43,544 45,307 Cash and other (1) 56,452 36,819 Total assets $ 371,563 $ 384,159 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates

Transactions with Affiliates	3 Months Ended
Transactions with Affiliates	Mar. 31, 2023
Related Party Transactions [Abstract]
Transactions with Affiliates	Transactions with Affiliates We enter into certain transactions in the normal course of business with affiliated entities. Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 KSA and affiliate billings to us $ — $ 6 Billings to KSA and affiliates 5 5 Rentals paid to an affiliate of KSA 137 114 Payments to KSA and affiliates for purchase of vehicles (1) 157 78 Rentals paid to affiliates of Scott Bosard 140 — _______________ (1) Amounts paid to West Point Buick GMC are for the purchase of three and two pickup trucks during the three months ended March 31, 2023 and 2022, respectively. Affiliate transactions include direct cost reimbursement for shared phone and administrative services from KSA Industries, Inc. (“KSA”), an affiliated entity. KSA was our largest shareholder until October 31, 2022 when we repurchased the common stock owned by it. An affiliate of KSA served on our Board of Directors through the date of our 2023 annual meeting. We lease our corporate office space in a building operated by 17 South Briar Hollow Lane, LLC, an affiliate of KSA. In addition, we purchase pickup trucks from West Point Buick GMC, an affiliate of KSA. two

Other Current Liabilities

Other Current Liabilities	3 Months Ended
Other Current Liabilities	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The components of other current liabilities were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Accrual for payroll, benefits and bonuses $ 4,134 $ 6,435 Accrued automobile and workers’ compensation claims 5,269 5,579 Contingent consideration for acquisition 2,566 2,566 Accrued medical claims 936 1,007 Accrued taxes 2,185 2,208 Other 1,537 1,419 Total other current liabilities $ 16,627 $ 19,214

Long-Term Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On October 27, 2022, we entered into a Credit Agreement (the “Credit Agreement”) with Cadence Bank, as administrative agent, swingline lender and issuing lender, and the other lenders party thereto (collectively, the “Lenders”). The Credit Agreement provides for (a) a revolving credit facility that allows for borrowings up to $60.0 million in aggregate principal amount from time to time (the “Revolving Credit Facility”) and (b) a Term Loan in aggregate principal amount of $25.0 million (the “Term Loan”). The Revolving Credit Facility matures on October 27, 2027 unless earlier terminated. At March 31, 2023, we had $23.8 million outstanding under the Term Loan at a weighted average interest rate of 6.81 percent, and $20.4 million letters of credit outstanding at a fee of 2.00 percent. No amounts were outstanding under the Revolving Credit Facility. The following table presents the scheduled maturities of principal amounts of our debt obligations at March 31, 2023 for the next five years, and in total thereafter (in thousands): Remainder of 2023 $ 1,875 2024 2,500 2025 2,500 2026 2,500 2027 14,375 Total debt maturities $ 23,750

Derivative Instruments and Fair

Derivative Instruments and Fair Value Measurements	3 Months Ended
Derivative Instruments and Fair Value Measurements	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Fair Value Measurements	Derivative Instruments and Fair Value Measurements Derivative Instruments In the normal course of our operations, our crude oil marketing segment purchases and sells crude oil. We seek to profit by procuring the commodity as it is produced and then delivering the material to the end users or the intermediate use marketplace. As typical for the industry, these transactions are made pursuant to the terms of forward month commodity purchase and/or sale contracts. Some of these contracts meet the definition of a derivative instrument, and therefore, we account for these contracts at fair value, unless the normal purchase and sale exception is applicable. These types of underlying contracts are standard for the industry and are the governing document for our crude oil marketing segment. None of our derivative instruments have been designated as hedging instruments. At March 31, 2023, we had in place one commodity purchase and sale contract, entered into in March 2023 for a total of 100,000 barrels of crude oil to be purchased and sold in April 2023, and one commodity purchase contract, entered into in 2022, for the purchase of 126,000 gallons of diesel fuel per month during January 2023 through December 2023. At December 31, 2022, we had in place three commodity purchase and sale contracts, entered into in 2022 for a total of 300,000 barrels of crude oil to be purchased and sold in January 2023, and one commodity purchase contract, also entered into in 2022, for the purchase of 126,000 gallons of diesel fuel per month during January 2023 through December 2023. The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2023 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 157 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ 157 $ — $ — $ — December 31, 2022 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 330 — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ 330 $ — We only enter into commodity contracts with creditworthy counterparties and evaluate our exposure to significant counterparties on an ongoing basis. At March 31, 2023 and December 31, 2022, we were not holding nor have we posted any collateral to support our forward month fair value derivative activity. We are not subject to any credit-risk related trigger events. We have no other financial investment arrangements that would serve to offset our derivative contracts. Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2023 2022 Revenues – marketing $ — $ 19 Cost and expenses – marketing (486) — Fair Value Measurements The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2023 Derivatives: Current assets $ — $ 157 $ — $ — $ 157 Current liabilities — — — — — Net value $ — $ 157 $ — $ — $ 157 December 31, 2022 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — (330) — — (330) Net value $ — $ (330) $ — $ — $ (330) These assets and liabilities are measured on a recurring basis and are classified based on the lowest level of input used to estimate their fair value. Our assessment of the relative significance of these inputs requires judgments. When determining fair value measurements, we make credit valuation adjustments to reflect both our own nonperformance risk and our counterparty’s nonperformance risk. When adjusting the fair value of derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements. Credit valuation adjustments utilize Level 3 inputs, such as credit scores, to evaluate the likelihood of default by us or our counterparties. At March 31, 2023 and December 31, 2022, credit valuation adjustments were not significant to the overall valuation of our fair value contracts. As a result, applicable fair value assets and liabilities are included in their entirety in the fair value hierarchy.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	3 Months Ended
Stock-Based Compensation Plan	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plan	Stock-Based Compensation PlanWe have in place a long-term incentive plan in which any employee or non-employee director who provides services to us is eligible to participate. The 2018 LTIP, which is overseen by the Compensation Committee of our Board of Directors, provides for the grant of various types of equity awards, of which restricted stock unit awards and performance-based compensation awards have been granted. In May 2022, our shareholders approved an amendment and restatement of the 2018 LTIP, in which the maximum number of shares authorized for issuance under the 2018 LTIP was increased by 150,000 shares to a total of 300,000 shares, and the term of the 2018 LTIP was extended through February 23, 2032. After giving effect to awards granted and forfeitures made under the 2018 LTIP and assuming the potential achievement of the maximum amounts of the performance factors through March 31, 2023, a total of 122,829 shares were available for issuance. Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Compensation expense $ 283 $ 195 At March 31, 2023 and December 31, 2022, we had $92,400 and $140,300, respectively, of accrued dividend amounts for awards granted under the 2018 LTIP or as inducement awards. Restricted Stock Unit Awards The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2023 70,244 $ 31.89 Granted (2) 23,409 $ 57.18 Vested (20,291) $ 29.76 Forfeited (312) $ 44.59 Restricted stock unit awards at March 31, 2023 73,050 $ 40.53 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during the first three months of 2023 was $1.3 million based on grant date market prices of our common shares ranging from $37.56 to $58.05 per share. Unrecognized compensation cost associated with restricted stock unit awards was approximately $1.5 million at March 31, 2023. Due to the graded vesting provisions of these awards, we expect to recognize the remaining compensation cost for these awards over a weighted-average period of 1.8 years. Performance Share Unit Awards The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2023 30,687 $ 28.59 Granted (2) 12,061 $ 56.84 Vested (12,319) $ 24.96 Forfeited — $ — Performance share unit awards at March 31, 2023 30,429 $ 41.26 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of performance share unit awards issued during the first three months of 2023 was $0.7 million based on grant date market prices of our common shares ranging from $38.42 to $58.05 per share and assuming a performance factor of 100 percent. Unrecognized compensation cost associated with performance share unit awards was approximately $1.0 million at March 31, 2023. We expect to recognize the remaining compensation cost for these awards over a weighted-average period of 2.5 years.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
Supplemental Cash Flow Information	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for interest $ 636 $ 114 Cash paid for federal and state income taxes 2 — Non-cash transactions: Change in accounts payable related to property and equipment additions 52 — Property and equipment acquired under finance leases 9,007 —

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,774 $ 1,207 Interest on lease liabilities 238 80 Operating lease cost 878 673 Short-term lease cost 3,698 3,781 Variable lease cost 5 6 Total lease expense $ 6,593 $ 5,747 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 777 $ 673 Operating cash flows from finance leases (1) 224 80 Financing cash flows from finance leases 1,576 1,139 ROU assets obtained in exchange for new lease liabilities: Finance leases 9,007 — Operating leases 401 196 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.89 3.39 Operating leases 3.32 3.63 Weighted-average discount rate: Finance leases 4.6% 2.6% Operating leases 4.1% 3.7% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 22,496 $ 15,264 Operating lease ROU assets 7,414 7,720 Liabilities Current Finance lease liabilities 5,221 4,382 Operating lease liabilities 2,821 2,712 Noncurrent Finance lease liabilities 18,677 12,085 Operating lease liabilities 4,595 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 4,779 $ 2,330 2024 5,492 2,789 2025 6,625 1,061 2026 4,211 891 2027 4,643 570 Thereafter 948 237 Total lease payments 26,698 7,878 Less: Interest (2,800) (462) Present value of lease liabilities 23,898 7,416 Less: Current portion of lease obligation (5,221) (2,821) Total long-term lease obligation $ 18,677 $ 4,595 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007
Leases	Leases The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,774 $ 1,207 Interest on lease liabilities 238 80 Operating lease cost 878 673 Short-term lease cost 3,698 3,781 Variable lease cost 5 6 Total lease expense $ 6,593 $ 5,747 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 777 $ 673 Operating cash flows from finance leases (1) 224 80 Financing cash flows from finance leases 1,576 1,139 ROU assets obtained in exchange for new lease liabilities: Finance leases 9,007 — Operating leases 401 196 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.89 3.39 Operating leases 3.32 3.63 Weighted-average discount rate: Finance leases 4.6% 2.6% Operating leases 4.1% 3.7% The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 22,496 $ 15,264 Operating lease ROU assets 7,414 7,720 Liabilities Current Finance lease liabilities 5,221 4,382 Operating lease liabilities 2,821 2,712 Noncurrent Finance lease liabilities 18,677 12,085 Operating lease liabilities 4,595 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets. The following table provides maturities of undiscounted lease liabilities at March 31, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 4,779 $ 2,330 2024 5,492 2,789 2025 6,625 1,061 2026 4,211 891 2027 4,643 570 Thereafter 948 237 Total lease payments 26,698 7,878 Less: Interest (2,800) (462) Present value of lease liabilities 23,898 7,416 Less: Current portion of lease obligation (5,221) (2,821) Total long-term lease obligation $ 18,677 $ 4,595 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance We have accrued liabilities for estimated workers’ compensation and other casualty claims incurred based upon claim reserves plus an estimate for loss development and incurred but not reported claims. We self-insure a significant portion of expected losses relating to workers’ compensation, general liability and automobile liability, with a self-insured retention of $1.0 million. Insurance is purchased over our retention to reduce our exposure to catastrophic events. Estimates are recorded for potential and incurred outstanding liabilities for workers’ compensation, auto and general liability claims and claims that are incurred but not reported. Estimates are based on adjusters’ estimates, historical experience and statistical methods commonly used within the insurance industry that we believe are reliable. We have also engaged a third-party actuary to perform a review of our accrued liability for these claims as well as potential funded losses in our captive insurance company. Insurance estimates include certain assumptions and management judgments regarding the frequency and severity of claims, claim development and settlement practices and the selection of estimated loss among estimates derived using different methods. Unanticipated changes in these factors may produce materially different amounts of expense that would be reported under these programs. On October 1, 2020, we elected to utilize a wholly owned insurance captive to insure the self-insured retention for our workers’ compensation, general liability and automobile liability insurance programs. All accrued liabilities associated with periods from October 1, 2017 through current were transferred to the captive. We maintain excess property and casualty programs with third-party insurers in an effort to limit the financial impact of significant events covered under these programs. Our operating subsidiaries pay premiums to both the excess and reinsurance carriers and our captive for the estimated losses based on an external actuarial analysis. These premiums held by our wholly owned captive are currently held in a restricted account, resulting in a transfer of risk from our operating subsidiaries to the captive. We also maintain a self-insurance program for managing employee medical claims in excess of employee deductibles. As claims are paid, the liability is relieved. We also maintain third party insurance stop-loss coverage for individual medical claims exceeding a certain minimum threshold . In addition, we maintain $1.3 million of umbrella insurance coverage for annual aggregate medical claims exceeding approximately $11.3 million. Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Accrued automobile and workers’ compensation claims $ 5,269 $ 5,579 Accrued medical claims 936 1,007 Litigation From time to time as incidental to our operations, we may become involved in various lawsuits and/or disputes. As an operator of an extensive trucking fleet, we are a party to motor vehicle accidents, worker compensation claims and other items of general liability as would be typical for the industry. We are presently unaware of any claims against us that are either outside the scope of insurance coverage or that may exceed the level of insurance coverage and could potentially represent a material adverse effect on our financial position, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Organization	Organization Adams Resources & Energy, Inc. is a publicly traded Delaware corporation organized in 1973, the common shares of which are listed on the NYSE American LLC under the ticker symbol “AE”. Through our subsidiaries, we are primarily engaged in crude oil marketing, truck and pipeline transportation of crude oil, terminalling and storage in various crude oil and natural gas basins in the lower 48 states of the United States (“U.S.”). In addition, we conduct tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk primarily in the lower 48 states of the U.S. with deliveries into Canada and Mexico, and with twenty terminals across the U.S. We also recycle and repurpose off-specification fuels, lubricants, crude oil and other chemicals from producers in the U.S. Unless the context requires otherwise, references to “we,” “us,” “our,” “Adams” or the “Company” are intended to mean the business and operations of Adams Resources & Energy, Inc. and its consolidated subsidiaries.
Basis of Presentation	Basis of Presentation Our results of operations for the three months ended March 31, 2023 are not necessarily indicative of results expected for the full year of 2023. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals necessary for fair presentation. The condensed consolidated financial statements and the accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and the rules of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the SEC on March 16, 2023. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of our financial statements in conformity with GAAP requires management to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates and judgments on historical experience and on various other assumptions and information we believe to be reasonable under the circumstances. Estimates and assumptions about future events and their effects cannot be perceived with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. While we believe the estimates and assumptions used in the preparation of these condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
Earnings Per Share	Earnings Per ShareBasic earnings (losses) per share is computed by dividing our net earnings (losses) by the weighted average number of common shares outstanding during the period. Diluted earnings (losses) per share is computed by giving effect to all potential common shares outstanding, including shares related to unvested restricted stock unit awards. Unvested restricted stock unit awards granted under the Adams Resources & Energy, Inc. 2018 Long-Term Incentive Plan, as amended and restated (“2018 LTIP”), or granted as employment inducement awards outside of the 2018 LTIP, are not considered to be participating securities as the holders of these shares do not have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares (see Note 13 for further discussion).
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of the immediate or short-term maturity of these financial instruments. Marketable securities are recorded at fair value based on market quotations from actively traded liquid markets. The fair value of the term loan under our credit agreement (see Note 11 for further information) is representative of the carrying value based upon the variable terms and management’s opinion that the current rates available to us with the same maturity and security structure are equivalent to that of the debt. A three-tier hierarchy has been established that classifies fair value amounts recognized in the financial statements based on the observability of inputs used to estimate these fair values. The hierarchy considers fair value amounts based on observable inputs (Levels 1 and 2) to be more reliable and predictable than those based primarily on unobservable inputs (Level 3). At each balance sheet reporting date, we categorize our financial assets and liabilities using this hierarchy.
Income Taxes	Income TaxesIncome taxes are accounted for using the asset and liability method. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of these items and their respective tax basis.
Inventory	InventoryInventory consists of crude oil held in storage tanks and at third-party pipelines as part of our crude oil marketing and pipeline and storage operations. Crude oil inventory is carried at the lower of cost or net realizable value. At the end of each reporting period, we assess the carrying value of our inventory and make adjustments necessary to reduce the carrying value to the applicable net realizable value. Any resulting adjustments are a component of marketing costs and expenses or pipeline and storage expenses on our consolidated statements of operations.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost. Expenditures for additions, improvements and other enhancements to property and equipment are capitalized, and minor replacements, maintenance and repairs that do not extend asset life or add value are charged to expense as incurred. When property and equipment assets are retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in results of operations in operating costs and expenses for the respective period. Property and equipment, except for land, is depreciated using the straight-line method over the estimated average useful lives ranging from two We review our long-lived assets for impairment whenever there is evidence that the carrying value of these assets may not be recoverable. Any impairment recognized is permanent and may not be restored. Property and equipment is reviewed at the lowest level of identifiable cash flows. For property and equipment requiring impairment, the fair value is estimated based on an internal discounted cash flow model of future cash flows.
Stock-Based Compensation	Stock-Based CompensationWe measure all share-based payment awards, including the issuance of restricted stock unit awards and performance share unit awards to employees and board members, using a fair-value based method. The cost of services received from employees and non-employee board members in exchange for awards of equity instruments is recognized in the consolidated statements of operations based on the estimated fair value of those awards on the grant date and is amortized on a straight-line basis over the requisite service period. The fair value of restricted stock unit awards and performance share unit awards is based on the closing price of our common stock on the grant date. We account for forfeitures as they occur.
Other Crude Oil Marketing Revenue	Other Crude Oil Marketing Revenue Certain of the commodity purchase and sale contracts utilized by our crude oil marketing business qualify as derivative instruments with certain specifically identified contracts also designated as trading activity. From the time of contract origination, these contracts are marked-to-market and recorded on a net revenue basis in the accompanying unaudited condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Cash and cash equivalents $ 42,135 $ 20,532 Restricted cash: Collateral for outstanding letters of credit (1) 357 892 Captive insurance subsidiary (2) 8,490 9,643 Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows $ 50,982 $ 31,067 _____________ (1) Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit.
Schedule of Common Stock Outstanding	The following table reconciles our outstanding common stock for the periods indicated: Common shares Balance, January 1, 2023 2,495,484 Vesting of restricted stock unit awards (see Note 13) 20,291 Vesting of performance share unit awards (see Note 13) 12,319 Shares withheld to cover taxes upon vesting of equity awards (8,089) Shares sold under at-the-market offering program 14,680 Balance, March 31, 2023 2,534,685
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted (losses) earnings per share was as follows for the periods indicated (in thousands, except per share data): Three Months Ended March 31, 2023 2022 (Losses) Earnings per share — numerator: Net (losses) earnings $ (1,999) $ 6,090 Denominator: Basic weighted average number of shares outstanding 2,517 4,359 Basic (losses) earnings per share $ (0.79) $ 1.40 Diluted (losses) earnings per share: Diluted weighted average number of shares outstanding: Common shares 2,517 4,359 Restricted stock unit awards (1) — 24 Performance share unit awards (1) (2) — 11 Total diluted shares 2,517 4,394 Diluted (losses) earnings per share $ (0.79) $ 1.39 _______________ (1) For the three months ended March 31, 2023, the effect of the restricted stock unit awards and the performance share unit awards on losses per share was anti-dilutive.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by segment and by major source for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Crude Oil Marketing: Revenue from contracts with customers: Goods transferred at a point in time $ 588,089 $ 736,034 Services transferred over time 44 — Total revenues from contracts with customers 588,133 736,034 Other (1) 20,343 11,521 Total crude oil marketing revenue $ 608,476 $ 747,555 Transportation: Revenue from contracts with customers: Goods transferred at a point in time $ — $ — Services transferred over time 26,445 26,690 Total revenues from contracts with customers 26,445 26,690 Other — — Total transportation revenue $ 26,445 $ 26,690 Pipeline and storage: (2) Revenue from contracts with customers: Goods transferred at a point in time $ — $ — Services transferred over time — — Total revenues from contracts with customers — — Other — — Total pipeline and storage revenue $ — $ — Logistics and repurposing: Revenue from contracts with customers: Goods transferred at a point in time $ 8,154 $ — Services transferred over time 7,087 — Total revenues from contracts with customers 15,241 — Other — — Total logistics and repurposing revenue $ 15,241 $ — Subtotal: Total revenues from contracts with customers $ 629,819 $ 762,724 Total other (1) 20,343 11,521 Total consolidated revenues $ 650,162 $ 774,245 _______________ (1) Other crude oil marketing revenues are recognized under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging , and ASC 845, Nonmonetary Transactions – Purchases and Sales of Inventory with the Same Counterparty .
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Reporting these crude oil contracts on a gross revenue basis would increase our reported revenues as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Revenue gross-up $ 286,702 $ 307,386

Prepayments and Other Current_2

Prepayments and Other Current Assets (Tables)	3 Months Ended
Prepayments and Other Current Assets (Tables)	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments and Other Current Assets	The components of prepayments and other current assets were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Insurance premiums $ 1,060 $ 1,220 Rents, licenses and other 1,968 1,898 Total prepayments and other current assets $ 3,028 $ 3,118

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
Property and Equipment (Tables)	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	The historical costs of our property and equipment and related accumulated depreciation and amortization balances were as follows at the dates indicated (in thousands): Estimated Useful Life March 31, December 31, in Years 2023 2022 Tractors and trailers 5 – 6 $ 126,789 $ 128,223 Field equipment 2 – 5 24,725 24,676 Finance lease ROU assets (1) 3 – 6 34,113 25,106 Pipeline and related facilities 20 – 25 20,362 20,362 Linefill and base gas (2) N/A 3,922 3,922 Buildings 5 – 39 16,189 16,163 Office equipment 2 – 5 2,964 2,937 Land N/A 2,309 2,309 Construction in progress N/A 4,284 3,629 Total 235,657 227,327 Less accumulated depreciation and amortization (125,393) (120,902) Property and equipment, net $ 110,264 $ 106,425 _______________ (1) Our finance lease right-of-use (“ROU)” assets arise from leasing arrangements for the right to use various classes of underlying assets including tractors, trailers, a tank storage and throughput arrangement and office equipment (see Note 15 for further information). Accumulated amortization of the assets presented as “Finance lease ROU assets” was $11.6 million and $9.9 million at March 31, 2023 and December 31, 2022, respectively. (2) Linefill and base gas represents crude oil in the VEX pipeline and storage tanks we own, and the crude oil is recorded at historical cost. Components of depreciation and amortization expense were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Depreciation and amortization, excluding amounts under finance leases $ 4,824 $ 3,613 Amortization of property and equipment under finance leases 1,775 1,208 Amortization of intangible assets 451 192 Total depreciation and amortization $ 7,050 $ 5,013

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
Acquisitions (Tables)	Mar. 31, 2023
Business Combination, Description [Abstract]
Schedule of Acquisition, Pro Forma Information	This unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had actually occurred on January 1, 2022, nor of the results of operations that may be obtained in the future (in thousands). Three Months Ended March 31, 2022 Revenues $ 792,984 Net earnings 9,725 Basic net earnings per common share $ 2.22 Diluted net earnings per common share $ 2.21

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
Other Assets (Tables)	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Components of other assets were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Insurance collateral deposits $ 503 $ 463 State collateral deposits 23 23 Materials and supplies 1,222 1,257 Debt issuance costs 1,511 1,595 Other 336 360 Total other assets $ 3,595 $ 3,698

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Information Concerning Business Activities	Financial information by reporting segment was as follows for the periods indicated (in thousands): Reporting Segments Crude oil marketing Trans-portation Pipeline and storage Logistics and repurposing (1) Other Total Three Months Ended March 31, 2023 Segment revenues (2) $ 608,476 $ 26,530 $ 809 $ 16,747 $ — $ 652,562 Less: Intersegment revenues (2) — (85) (809) (1506) — (2,400) Revenues $ 608,476 $ 26,445 $ — $ 15,241 $ — $ 650,162 Segment operating earnings (losses) (3) 1,907 901 (1,201) 535 — 2,142 Depreciation and amortization 2,075 3,131 263 1,581 — 7,050 Property and equipment additions (4) (5) 275 167 971 460 27 1,900 Three Months Ended March 31, 2022 Segment revenues (2) $ 747,555 $ 26,718 $ 897 $ — $ — $ 775,170 Less: Intersegment revenues (2) — (28) (897) — — (925) Revenues $ 747,555 $ 26,690 $ — $ — $ — $ 774,245 Segment operating earnings (losses) (3) 10,120 2,868 (822) — — 12,166 Depreciation and amortization 1,788 2,957 268 — — 5,013 Property and equipment additions (4) (5) 3,124 535 27 — 8 3,694 _______________ (1) On August 12, 2022, we acquired a transportation logistics and recycling and repurposing business, resulting in a new operating segment. (2) Segment revenues include intersegment amounts that are eliminated due to consolidation in operating costs and expenses in our unaudited condensed consolidated statements of operations. Intersegment activities are conducted at posted tariff rates where applicable, or otherwise at rates similar to those charged to third parties or rates that we believe approximate market at the time the agreement is executed. (3) Our crude oil marketing segment’s operating earnings included inventory valuation losses of $1.0 million and inventory liquidation gains of $8.7 million for the three months ended March 31, 2023 and 2022, respectively. (4) Our segment property and equipment additions do not include assets acquired under finance leases during the three months ended March 31, 2023 and 2022. See Note 15 for further information. (5) Amounts included in property and equipment additions for Other are additions for computer equipment at our corporate headquarters, which were not attributed or allocated to any of our reporting segments.
Schedule of Reconciliation of Segment Earnings to Earnings Before Income Taxes	Segment operating earnings reflect revenues net of operating costs and depreciation and amortization expense and are reconciled to (losses) earnings before income taxes, as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Segment operating earnings $ 2,142 $ 12,166 General and administrative (4,772) (4,018) Operating (losses) earnings (2,630) 8,148 Interest and other income 204 24 Interest expense (696) (114) (Losses) Earnings before income taxes $ (3,122) $ 8,058
Schedule of Identifiable Assets by Industry Segment	Identifiable assets by business segment were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Reporting segment: Crude oil marketing $ 183,972 $ 215,813 Transportation 61,115 60,405 Pipeline and storage 26,480 25,815 Logistics and repurposing 43,544 45,307 Cash and other (1) 56,452 36,819 Total assets $ 371,563 $ 384,159 _______________ (1) Other identifiable assets are primarily corporate cash, corporate accounts receivable, properties and operating lease right-of-use assets not identified with any specific segment of our business.

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	3 Months Ended
Transactions with Affiliates (Tables)	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Activities with Affiliates	Activities with affiliates were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 KSA and affiliate billings to us $ — $ 6 Billings to KSA and affiliates 5 5 Rentals paid to an affiliate of KSA 137 114 Payments to KSA and affiliates for purchase of vehicles (1) 157 78 Rentals paid to affiliates of Scott Bosard 140 — _______________

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
Other Current Liabilities (Tables)	Mar. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The components of other current liabilities were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Accrual for payroll, benefits and bonuses $ 4,134 $ 6,435 Accrued automobile and workers’ compensation claims 5,269 5,579 Contingent consideration for acquisition 2,566 2,566 Accrued medical claims 936 1,007 Accrued taxes 2,185 2,208 Other 1,537 1,419 Total other current liabilities $ 16,627 $ 19,214

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Maturities of Long-Term Debt	The following table presents the scheduled maturities of principal amounts of our debt obligations at March 31, 2023 for the next five years, and in total thereafter (in thousands): Remainder of 2023 $ 1,875 2024 2,500 2025 2,500 2026 2,500 2027 14,375 Total debt maturities $ 23,750

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Measurements (Tables)	3 Months Ended
Derivative Instruments and Fair Value Measurements (Tables)	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Reflected in the Consolidated Balance Sheet	The estimated fair value of forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated balance sheets were as follows at the dates indicated (in thousands): Balance Sheet Location and Amount Current Other Current Other Assets Assets Liabilities Liabilities March 31, 2023 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ 157 $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — — — Less counterparty offsets — — — — As reported fair value contracts $ 157 $ — $ — $ — December 31, 2022 Asset derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation $ — $ — $ — $ — Liability derivatives: Fair value forward hydrocarbon commodity contracts at gross valuation — — 330 — Less counterparty offsets — — — — As reported fair value contracts $ — $ — $ 330 $ —
Schedule of Derivatives Reflected in the Consolidated Statement of Operations	Forward month commodity contracts (derivatives) reflected in the accompanying unaudited condensed consolidated statements of operations were as follows for the periods indicated (in thousands): Gains (losses) Three Months Ended March 31, 2023 2022 Revenues – marketing $ — $ 19 Cost and expenses – marketing (486) —
Schedule of Fair value Assets and Liabilities	The following tables set forth, by level with the Level 1, 2 and 3 fair value hierarchy, the carrying values of our financial assets and liabilities at the dates indicated (in thousands): Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Assets Observable Unobservable and Liabilities Inputs Inputs Counterparty (Level 1) (Level 2) (Level 3) Offsets Total March 31, 2023 Derivatives: Current assets $ — $ 157 $ — $ — $ 157 Current liabilities — — — — — Net value $ — $ 157 $ — $ — $ 157 December 31, 2022 Derivatives: Current assets $ — $ — $ — $ — $ — Current liabilities — (330) — — (330) Net value $ — $ (330) $ — $ — $ (330)

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	3 Months Ended
Stock-Based Compensation Plan (Tables)	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Arrangement	Compensation expense recognized in connection with equity-based awards was as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Compensation expense $ 283 $ 195
Schedule of Share-Based Compensation, Activity	The following table presents restricted stock unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Restricted stock unit awards at January 1, 2023 70,244 $ 31.89 Granted (2) 23,409 $ 57.18 Vested (20,291) $ 29.76 Forfeited (312) $ 44.59 Restricted stock unit awards at March 31, 2023 73,050 $ 40.53 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued. (2) The aggregate grant date fair value of restricted stock unit awards issued during the first three months of 2023 was $1.3 million based on grant date market prices of our common shares ranging from $37.56 to $58.05 per share. The following table presents performance share unit award activity for the periods indicated: Weighted- Average Grant Number of Date Fair Value Shares per Share (1) Performance share unit awards at January 1, 2023 30,687 $ 28.59 Granted (2) 12,061 $ 56.84 Vested (12,319) $ 24.96 Forfeited — $ — Performance share unit awards at March 31, 2023 30,429 $ 41.26 _______________ (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
Supplemental Cash Flow Information (Tables)	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flows and non-cash transactions were as follows for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for interest $ 636 $ 114 Cash paid for federal and state income taxes 2 — Non-cash transactions: Change in accounts payable related to property and equipment additions 52 — Property and equipment acquired under finance leases 9,007 —

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2023
Leases [Abstract]
Schedule of Lease, Cost	The following table provides the components of lease expense for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Finance lease cost: Amortization of ROU assets $ 1,774 $ 1,207 Interest on lease liabilities 238 80 Operating lease cost 878 673 Short-term lease cost 3,698 3,781 Variable lease cost 5 6 Total lease expense $ 6,593 $ 5,747 The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): Three Months Ended March 31, 2023 2022 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases (1) $ 777 $ 673 Operating cash flows from finance leases (1) 224 80 Financing cash flows from finance leases 1,576 1,139 ROU assets obtained in exchange for new lease liabilities: Finance leases 9,007 — Operating leases 401 196 ______________ (1) Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows. The following table provides the lease terms and discount rates for the periods indicated: Three Months Ended March 31, 2023 2022 Weighted-average remaining lease term (years): Finance leases 3.89 3.39 Operating leases 3.32 3.63 Weighted-average discount rate: Finance leases 4.6% 2.6% Operating leases 4.1% 3.7%
Assets and Liabilities, Lessee	The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): March 31, December 31, 2023 2022 Assets Finance lease ROU assets (1) $ 22,496 $ 15,264 Operating lease ROU assets 7,414 7,720 Liabilities Current Finance lease liabilities 5,221 4,382 Operating lease liabilities 2,821 2,712 Noncurrent Finance lease liabilities 18,677 12,085 Operating lease liabilities 4,595 5,007 ______________ (1) Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
Lessee, Operating Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 4,779 $ 2,330 2024 5,492 2,789 2025 6,625 1,061 2026 4,211 891 2027 4,643 570 Thereafter 948 237 Total lease payments 26,698 7,878 Less: Interest (2,800) (462) Present value of lease liabilities 23,898 7,416 Less: Current portion of lease obligation (5,221) (2,821) Total long-term lease obligation $ 18,677 $ 4,595 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007
Finance Lease, Liability, Maturity	The following table provides maturities of undiscounted lease liabilities at March 31, 2023 (in thousands): Finance Operating Lease Lease Remainder of 2023 $ 4,779 $ 2,330 2024 5,492 2,789 2025 6,625 1,061 2026 4,211 891 2027 4,643 570 Thereafter 948 237 Total lease payments 26,698 7,878 Less: Interest (2,800) (462) Present value of lease liabilities 23,898 7,416 Less: Current portion of lease obligation (5,221) (2,821) Total long-term lease obligation $ 18,677 $ 4,595 The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): Finance Operating Lease Lease 2023 $ 4,870 $ 2,958 2024 3,629 2,617 2025 4,652 962 2026 2,482 879 2027 2,179 570 Thereafter — 237 Total lease payments 17,812 8,223 Less: Interest (1,345) (504) Present value of lease liabilities 16,467 7,719 Less: Current portion of lease obligation (4,382) (2,712) Total long-term lease obligation $ 12,085 $ 5,007

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Expenses and Losses Incurred but Not Reported	Our accruals for automobile, workers’ compensation and medical claims were as follows at the dates indicated (in thousands): March 31, December 31, 2023 2022 Accrued automobile and workers’ compensation claims $ 5,269 $ 5,579 Accrued medical claims 936 1,007

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	3 Months Ended
Organization and Basis of Presentation (Details)	Mar. 31, 2023 state terminal segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states in which entity operates \| state	48
Number of Terminals in which Entity Operates \| terminal	20
Number of operating segments	4
Number of reportable segments	4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 42,135	$ 20,532
Restricted cash	8,847	10,535
Total cash, cash equivalents and restricted cash shown in the unaudited condensed consolidated statements of cash flows	50,982	31,067	$ 108,145	$ 107,317
Letter of Credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	357	892
Captive Insurance Subsidiary
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	8,490	$ 9,643
Initial Capitalization
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Common Stock Outstanding (Details)	3 Months Ended
	Mar. 31, 2023 shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	2,495,484
Vesting of restricted stock unit awards (in shares)	20,291
Shares withheld to cover taxes upon vesting of equity awards (in shares)	(8,089)
Ending balance (in shares)	2,534,685
Common Stock \| At the Market Offerings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares sold at the market (in shares)	14,680
Performance Unit Awards
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of performance share unit awards (in shares)	12,319

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basic earnings per share:
Net (losses) earnings	$ (1,999)	$ 6,090
Basic weighted average number of shares outstanding (in shares)	2,517	4,359
Basic (losses) earnings per share (in dollars per share)	$ (0.79)	$ 1.40
Diluted (losses) earnings per share:
Common shares (in shares)	2,517	4,359
Total diluted shares (in shares)	2,517	4,394
Diluted (losses) earnings per share (in dollars per share)	$ (0.79)	$ 1.39
Restricted stock units awards
Diluted (losses) earnings per share:
Unit awards (in shares)	0	24
Performance share unit awards
Diluted (losses) earnings per share:
Unit awards (in shares)	0	11

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Equity at the Market Offering (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Class of Stock [Line Items]
Shares sold under at-the-market offering program	$ 549
Common Stock
Class of Stock [Line Items]
Shares sold under at-the-market offering program	1
Common Stock \| At the Market Offerings
Class of Stock [Line Items]
Shares sold under at-the-market offering program	600
Offering cost	$ 27
Shares sold at the market (in shares) \| shares	14,680
Shares sold at the market (in dollars per share) \| $ / shares	$ 40.74

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value Measurements (Details)	Mar. 31, 2023 contract
Hedging accounting
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of contracts held	0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Income Taxes and Property and Equipment (Details)	3 Months Ended
	Mar. 31, 2023
Minimum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Abstract]
Property and equipment, useful life	39 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenue Disaggregation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 650,162	$ 774,245
Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	629,819	762,724
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	20,343	11,521
Crude oil marketing
Disaggregation of Revenue [Line Items]
Revenues	608,476	747,555
Crude oil marketing \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	588,133	736,034
Crude oil marketing \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	588,089	736,034
Crude oil marketing \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	44	0
Crude oil marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	20,343	11,521
Trans-portation
Disaggregation of Revenue [Line Items]
Revenues	26,445	26,690
Trans-portation \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,445	26,690
Trans-portation \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Trans-portation \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	26,445	26,690
Trans-portation \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage
Disaggregation of Revenue [Line Items]
Revenues	0	0
Pipeline and storage \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Pipeline and storage \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0
Logistics and repurposing
Disaggregation of Revenue [Line Items]
Revenues	15,241	0
Logistics and repurposing \| Revenues from contracts with customers
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	15,241	0
Logistics and repurposing \| Revenues from contracts with customers \| Goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	8,154	0
Logistics and repurposing \| Revenues from contracts with customers \| Services transferred over time
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	7,087	0
Logistics and repurposing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of New Accounting Pronouncements and Changes in Accounting Principles (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue gross-up	$ 286,702	$ 307,386

Prepayments and Other Current_3

Prepayments and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance premiums	$ 1,060	$ 1,220
Rents, licenses and other	1,968	1,898
Total prepayments and other current assets	$ 3,028	$ 3,118

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 235,657		$ 227,327
Less accumulated depreciation and amortization	(125,393)		(120,902)
Property and equipment, net	110,264		106,425
Total depreciation and amortization	7,050	$ 5,013
Amortization of intangible assets	451	192
Depreciation and amortization, excluding amounts under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	4,824	3,613
Amortization of property and equipment under finance leases
Property, Plant and Equipment [Line Items]
Total depreciation and amortization	$ 1,775	$ 1,208
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Tractors and trailers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 126,789		128,223
Tractors and trailers \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Tractors and trailers \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Field equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 24,725		24,676
Field equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Field equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Finance lease ROU assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 34,113		25,106
Property and equipment, net	$ 11,600		9,900
Finance lease ROU assets \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Finance lease ROU assets \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	6 years
Pipeline and related facilities
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,362		20,362
Pipeline and related facilities \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years
Pipeline and related facilities \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years
Linefill and base gas
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,922		3,922
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 16,189		16,163
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	39 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,964		2,937
Office equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	2 years
Office equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,309		2,309
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,284		$ 3,629

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Millions	Aug. 12, 2022 USD ($) segment shares
Firebird
Business Acquisition [Line Items]
Connection to number of terminals \| segment	6
Number of tractors \| segment	130
Number of trailers \| segment	209
Firebird and Phoenix
Business Acquisition [Line Items]
Fair value of total consideration transferred	$ 39.3
Cash payment for acquisition	$ 35.4
Number of shares (in shares) \| shares	45,777
Equity interest issued or issuable, value assigned	$ 1.4
Issuance of shares in acquisition (in shares) \| shares	15,259
Contingent consideration	$ 2.6
Firebird and Phoenix \| To be Issued
Business Acquisition [Line Items]
Number of shares (in shares) \| shares	30,518
Issuance period	3 years

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Financial Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) $ / shares
Asset Acquisition [Abstract]
Revenues \| $	$ 792,984
Net earnings \| $	$ 9,725
Basic net earnings per common share (in dollars per share) \| $ / shares	$ 2.22
Diluted net earnings per common share (in dollars per share) \| $ / shares	$ 2.21

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Insurance collateral deposits	$ 503	$ 463
State collateral deposits	23	23
Materials and supplies	1,222	1,257
Debt issuance costs	1,511	1,595
Other	336	360
Total other assets	$ 3,595	$ 3,698

Segment Reporting - Schedule of

Segment Reporting - Schedule of Information Concerning Business Activities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	4
Number of operating segments \| segment	4
Segment Reporting Information [Line Items]
Revenues	$ 650,162	$ 774,245
Segment operating earnings (losses)	(2,630)	8,148
Depreciation and amortization	7,050	5,013
Property and equipment additions	1,900	3,694
Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	608,476	747,555
Depreciation and amortization	2,075	1,788
Property and equipment additions	275	3,124
Inventory liquidation (losses) gains	1,000	(8,700)
Trans-portation
Segment Reporting Information [Line Items]
Revenues	26,445	26,690
Depreciation and amortization	3,131	2,957
Property and equipment additions	167	535
Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	0	0
Depreciation and amortization	263	268
Property and equipment additions	971	27
Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	15,241	0
Depreciation and amortization	1,581	0
Property and equipment additions	460	0
Operating segments
Segment Reporting Information [Line Items]
Revenues	652,562	775,170
Segment operating earnings (losses)	2,142	12,166
Operating segments \| Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	608,476	747,555
Segment operating earnings (losses)	1,907	10,120
Operating segments \| Trans-portation
Segment Reporting Information [Line Items]
Revenues	26,530	26,718
Segment operating earnings (losses)	901	2,868
Operating segments \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	809	897
Segment operating earnings (losses)	(1,201)	(822)
Operating segments \| Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	16,747	0
Segment operating earnings (losses)	535	0
Intersegment
Segment Reporting Information [Line Items]
Revenues	(2,400)	(925)
Intersegment \| Crude oil marketing
Segment Reporting Information [Line Items]
Revenues	0	0
Intersegment \| Trans-portation
Segment Reporting Information [Line Items]
Revenues	(85)	(28)
Intersegment \| Pipeline and storage
Segment Reporting Information [Line Items]
Revenues	(809)	(897)
Intersegment \| Logistics and repurposing
Segment Reporting Information [Line Items]
Revenues	(1,506)	0
Other
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating earnings (losses)	0	0
Depreciation and amortization	0	0
Property and equipment additions	$ 27	$ 8

Segment Reporting - Schedule _2

Segment Reporting - Schedule of Reconciliation of Segment Earnings to Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	$ (2,630)	$ 8,148
General and administrative	(4,772)	(4,018)
Interest and other income	204	24
Interest expense	(696)	(114)
(Losses) Earnings before income taxes	(3,122)	8,058
Operating segments
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	2,142	12,166
General and administrative
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Operating (losses) earnings	0	0
General and administrative	(4,772)	(4,018)
Segment reconciling items
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Abstract]
Interest and other income	204	24
Interest expense	$ (696)	$ (114)

Segment Reporting - Schedule _3

Segment Reporting - Schedule of Identifiable Assets by Industry Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Segment Reconciliation [Abstract]
Total assets	$ 371,563	$ 384,159
Operating segments
Segment Reconciliation [Abstract]
Total assets	371,563	384,159
Operating segments \| Crude oil marketing
Segment Reconciliation [Abstract]
Total assets	183,972	215,813
Operating segments \| Trans-portation
Segment Reconciliation [Abstract]
Total assets	61,115	60,405
Operating segments \| Pipeline and storage
Segment Reconciliation [Abstract]
Total assets	26,480	25,815
Operating segments \| Logistics and repurposing
Segment Reconciliation [Abstract]
Total assets	43,544	45,307
Cash and other
Segment Reconciliation [Abstract]
Total assets	$ 56,452	$ 36,819

Transactions with Affiliates -

Transactions with Affiliates - Schedule of Activities with Affiliates (Details) - Affiliated entities - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
KSA and affiliate billings to us	$ 0	$ 6
Billings to KSA and affiliates	5	5
Rentals paid to an affiliate of KSA	137	114
Payments to KSA and affiliates for purchase of vehicles	157	78
Rentals paid to affiliates of Scott Bosard	$ 140	$ 0

Transactions with Affiliates _2

Transactions with Affiliates - Narrative (Details)		3 Months Ended
Transactions with Affiliates - Narrative (Details)	Aug. 12, 2022 segment	Mar. 31, 2023 pickupTruck	Mar. 31, 2022 truck
Firebird and Phoenix
Related Party Transaction [Line Items]
Number of operating lease aggrement \| segment	4
Minimum \| Firebird and Phoenix
Related Party Transaction [Line Items]
Term of contract	2 years
Maximum \| Firebird and Phoenix
Related Party Transaction [Line Items]
Term of contract	5 years
G M C
Related Party Transaction [Line Items]
Number of pickup tracks purchased \| pickupTruck		3
Affiliated entities
Related Party Transaction [Line Items]
Number of pickup tracks purchased \| truck			2

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Accrual for payroll, benefits and bonuses	$ 4,134	$ 6,435
Accrued automobile and workers’ compensation claims	5,269	5,579
Contingent consideration for acquisition	2,566	2,566
Accrued medical claims	936	1,007
Accrued taxes	2,185	2,208
Other	1,537	1,419
Other current liabilities	$ 16,627	$ 19,214

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Mar. 31, 2023	Oct. 27, 2022
Line of Credit Facility [Line Items]
Long-term debt	$ 23,750,000
Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 25,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage	2%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Weighted average interest rate	6.81%
Letters of credit outstanding	$ 20,400,000
Borrowings outstanding	0
Line of Credit \| Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing amount		$ 60,000,000
Line of Credit \| Secured Debt
Line of Credit Facility [Line Items]
Long-term debt	$ 23,800,000

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities of Long-Term Debt (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 1,875
2024	2,500
2025	2,500
2026	2,500
2027	14,375
Long-term debt	$ 23,750

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Measurements - Narrative (Details) - Commodity Contract gallonsOfDieselPerDay in Thousands, barrel_of_oil_per_day in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 barrel_of_oil_per_day gallonsOfDieselPerDay contract	Dec. 31, 2022 gallonsOfDieselPerDay barrel_of_oil_per_day contract
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held	1	1
Production \| gallonsOfDieselPerDay	126	126
Purchased and Sold in April 2023
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held	1
Production \| barrel_of_oil_per_day	100
Purchased and Sold in January 2023
Derivative Instruments, Gain (Loss) [Line Items]
Number of contracts held		3
Production \| barrel_of_oil_per_day		300

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Measurements - Schedule of Derivatives Reflected in the Consolidated Balance Sheet (Details) - Commodity Contract - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	$ 157	$ 0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	157	0
Other Assets
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	0	0
Current Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	330
Less counterparty offsets	0	0
As reported fair value contracts	0	330
Other Liabilities
Derivatives, Fair Value [Line Items]
Asset derivatives	0	0
Liability derivatives	0	0
Less counterparty offsets	0	0
As reported fair value contracts	$ 0	$ 0

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Measurements - Schedule of Derivatives Reflected in the Consolidated Statement of Operations (Details) - Not Designated as Hedging Instrument - Commodity Contract - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues – marketing
Derivative [Line Items]
Gain (loss) on derivative	$ 0	$ 19
Cost and expenses – marketing
Derivative [Line Items]
Gain (loss) on derivative	$ (486)	$ 0

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Measurements - Schedule of Fair value Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives:
Current assets	$ 157	$ 0
Current assets, counterparty offsets	0	0
Current liabilities	0	(330)
Current liabilities, counterparty offsets	0	0
Net value	157	(330)
Net value, counterparty offsets	0	0
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	0	0
Significant Other Observable Inputs (Level 2)
Derivatives:
Current assets	157	0
Current liabilities	0	(330)
Net value	157	(330)
Significant Unobservable Inputs (Level 3)
Derivatives:
Current assets	0	0
Current liabilities	0	0
Net value	$ 0	$ 0

Stock-Based Compensation Plan -

Stock-Based Compensation Plan - Narrative (Details) - The 2018 LTIP - USD ($)	1 Months Ended	3 Months Ended
	May 31, 2022	Mar. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	150,000
Number of shares authorized (in shares)	300,000	122,829
Accrued dividends		$ 92,400	$ 140,300
Restricted stock units awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 1,500,000
Period for recognition for remaining compensation cost		1 year 9 months 18 days
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 1,000,000
Period for recognition for remaining compensation cost		2 years 6 months

Stock-Based Compensation Plan_2

Stock-Based Compensation Plan - Schedules (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 283	$ 195
Restricted stock units awards
Number of Shares
Unit awards, beginning balance (in shares)	70,244
Vested (in shares)	(20,291)
Forfeited (in shares)	(312)
Unit awards, ending balance (in shares)	73,050
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 31.89
Vested (in dollars per share)	29.76
Forfeited (in dollars per share)	44.59
Unit awards, ending balance (in dollars per share)	$ 40.53
The 2018 LTIP \| Restricted stock units awards
Number of Shares
Granted (in shares)	23,409
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 57.18
Aggregate grant date fair value awards issues	$ 1,300
The 2018 LTIP \| Restricted stock units awards \| Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 37.56
The 2018 LTIP \| Restricted stock units awards \| Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 58.05
The 2018 LTIP \| Performance share unit awards
Number of Shares
Unit awards, beginning balance (in shares)	30,687
Granted (in shares)	12,061
Vested (in shares)	(12,319)
Forfeited (in shares)	0
Unit awards, ending balance (in shares)	30,429
Weighted Average Grant Date Fair Value per Share
Unit awards, beginning balance (in dollars per share)	$ 28.59
Granted (in dollars per share)	56.84
Vested (in dollars per share)	24.96
Forfeited (in dollars per share)	0
Unit awards, ending balance (in dollars per share)	$ 41.26
Aggregate grant date fair value awards issues	$ 700
Performance factor	100,000%
The 2018 LTIP \| Performance share unit awards \| Minimum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 38.42
The 2018 LTIP \| Performance share unit awards \| Maximum
Weighted Average Grant Date Fair Value per Share
Granted (in dollars per share)	$ 58.05

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 636	$ 114
Cash paid for federal and state income taxes	2	0
Non-cash transactions:
Change in accounts payable related to property and equipment additions	52	0
Property and equipment acquired under finance leases	$ 9,007	$ 0

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Amortization of ROU assets	$ 1,774	$ 1,207
Interest on lease liabilities	238	80
Operating lease cost	878	673
Short-term lease cost	3,698	3,781
Variable lease cost	5	6
Total lease expense	$ 6,593	$ 5,747

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$ 777	$ 673
Operating cash flows from finance leases	224	80
Financing cash flows from finance leases	1,576	1,139
ROU assets obtained in exchange for new lease liabilities:
ROU assets obtained in exchange for new lease liabilities, Finance leases	9,007	0
ROU assets obtained in exchange for new lease liabilities, Operating leases	$ 401	$ 196

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Mar. 31, 2023	Mar. 31, 2022
Weighted-average remaining lease term (years):
Finance leases	3 years 10 months 20 days	3 years 4 months 20 days
Operating leases	3 years 3 months 25 days	3 years 7 months 17 days
Weighted-average discount rate:
Finance leases	4.60%	2.60%
Operating leases	4.10%	3.70%

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Finance lease ROU assets	$ 22,496	$ 15,264
Operating lease ROU assets	7,414	7,720
Current portion of finance lease obligations	5,221	4,382
Current portion of operating lease liabilities	2,821	2,712
Noncurrent portion finance lease liabilities	18,677	12,085
Noncurrent portion operating lease liabilities	$ 4,595	$ 5,007

Leases - Maturities of Undiscou

Leases - Maturities of Undiscounted Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finance Lease Liabilities, Payments
Remainder of 2023	$ 4,779
2024	5,492	$ 4,870
2025	6,625	3,629
2026	4,211	4,652
2027	4,643	2,482
2027		2,179
Thereafter	948
Thereafter		0
Total lease payments	26,698	17,812
Finance Lease, Liability, Undiscounted Excess Amount	(2,800)	(1,345)
Present value of lease liabilities	23,898	16,467
Finance Lease, Liability, Current	(5,221)	(4,382)
Finance lease obligations	18,677	12,085
Operating Lease Liabilities, Payments Due
Remainder of 2023	2,330
2024	2,789	2,958
2025	1,061	2,617
2026	891	962
2027	570	879
Thereafter	237
2027		570
Thereafter		237
Total lease payments	7,878	8,223
Less: Interest	(462)	(504)
Present value of lease liabilities	7,416	7,719
Less: Current portion of lease obligation	(2,821)	(2,712)
Operating lease liabilities	$ 4,595	$ 5,007

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Self-insured retention	$ 1
Umbrellas insurance coverage	1.3
Aggregate medical claims for umbrella insurance coverage per calendar year	$ 11.3

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Expenses and Losses Incurred but Not Reported (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Accrued automobile and workers’ compensation claims	$ 5,269	$ 5,579
Accrued medical claims	$ 936	$ 1,007