GENESIS ENERGY LP
For the period ended Sep 30, 2024. Filed Oct 31, 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.
Sep 30, 2024 · Filed Oct 31, 2024
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6. Inventories
- Inventories
The major components of inventories were as follows:
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Crude oil | $31,783 | $22,320 |
| Caustic soda | 6,496 | 9,150 |
| NaHS | 8,881 | 17,605 |
| Raw materials - Alkali Business | 9,291 | 8,355 |
| Work-in-process - Alkali Business | 3,416 | 11,404 |
| Finished goods, net - Alkali Business | 30,601 | 48,706 |
| Materials and supplies, net - Alkali Business | 20,219 | 17,691 |
| Total | $110,687 | $135,231 |
Inventories are valued at the lower of cost or net realizable value. As of September 30, 2024 and December 31, 2023, the net realizable value of inventories were below their respective cost by $0.4 million and $0.2 million, respectively, which triggered a reduction of the value of inventory in our Unaudited Condensed Consolidated Financial Statements by these amounts.
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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