GENESIS ENERGY LP
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Item 14. Principal Accountant Fees and Services
The following table summarizes the fees for professional services rendered by PricewaterhouseCoopers LLP for the years ended December 31, 2024 and 2023, respectively.
| 2024 | 2023 | |
|---|---|---|
| (in thousands) | ||
| Audit Fees(1) | $2,865 | $2,730 |
| Tax Fees(2) | 1,424 | — |
| All Other Fees(3) | 2 | 2 |
| Total | $4,291 | $2,732 |
(1)Includes fees for the annual audit and quarterly reviews (including internal control evaluation and reporting), SEC registration statements, comfort letters and accounting and financial reporting consultations and research work regarding Generally Accepted Accounting Principles. Effective June 2023, we changed our registered independent public accounting firm from Ernst & Young LLP to PricewaterhouseCoopers LLP. The fees for professional services seen above are for services rendered by PricewaterhouseCoopers LLP for the years ended December 31, 2024 and 2023.
(2)Includes fees for tax return preparation, tax compliance services, K-1 processing services and tax consultations.
(3)Includes fees associated with non-audit related services and licenses for accounting research software.
Pre-Approval Policy
The services by PricewaterhouseCoopers LLP and Ernst & Young LLP in 2024 and 2023 were pre-approved in accordance with the pre-approval policy and procedures adopted by the audit committee. This policy describes the permitted audit, audit-related, tax and other services, which we refer to collectively as the Disclosure Categories that the independent auditor may perform. The policy requires that each fiscal year, a description of the services, or the Service List, expected to be performed by the independent auditor in each of the Disclosure Categories in the following fiscal year be presented to the audit committee for approval.
Any requests for audit, audit-related, tax and other services not contemplated on the Service List must be submitted to the audit committee for specific pre-approval and cannot commence until such approval has been granted. Normally, pre-approval is provided at regularly scheduled meetings.
In considering the nature of the non-audit services provided by PricewaterhouseCoopers LLP in 2024 and 2023 and Ernst & Young LLP in 2023, the audit committee determined that such services are compatible with the provision of independent audit services. The audit committee discussed these services with PricewaterhouseCoopers LLP, Ernst & Young LLP and management of our general partner to determine that they are permitted under the rules and regulations concerning auditor independence promulgated by the SEC to implement the Sarbanes-Oxley Act of 2002, as well as the American Institute of Certified Public Accountants.
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