GENESIS ENERGY LP
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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6. Inventories
- Inventories
The major components of inventories were as follows:
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Crude oil | 30,078 | 22,320 |
| Caustic soda | 8,202 | 9,150 |
| NaHS | 15,850 | 17,605 |
| Raw materials - Alkali Business | 8,075 | 8,355 |
| Work-in-process - Alkali Business | 5,717 | 11,404 |
| Finished goods, net - Alkali Business | 40,054 | 48,706 |
| Materials and supplies, net - Alkali Business | 18,669 | 17,691 |
| Total | $126,645 | $135,231 |
Inventories are valued at the lower of cost or net realizable value. As of March 31, 2024 , the net realizable value of our inventories was greater than the respective cost. At December 31, 2023, the net realizable value of our inventories was less than the respective cost by $0.2 million, which triggered a reduction of the value of inventory in our Consolidated Financial Statements by this amount.
Materials and supplies include chemicals, maintenance supplies and spare parts which will be consumed in the mining of trona ore and production of soda ash processes.
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