Western Refining Logistics LP (Western Refining Logistics LP) Intangible Assets : $6 Mil (As of Jun. 2017)

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What is Western Refining Logistics LP Intangible Assets?

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Western Refining Logistics LP's intangible assets for the quarter that ended in Jun. 2017 was $6 Mil.

Western Refining Logistics LP Intangible Assets Historical Data

The historical data trend for Western Refining Logistics LP's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Western Refining Logistics LP Intangible Assets Chart

Western Refining Logistics LP Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Intangible Assets

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4.74

8.57

7.76

6.52

Western Refining Logistics LP Quarterly Data
	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17
Intangible Assets	Get a 7-Day Free Trial															7.11	6.81	6.52	6.30	6.10

Western Refining Logistics LP Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

Western Refining Logistics LP (NYSE:WNRL) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

Western Refining Logistics LP Intangible Assets Related Terms

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Western Refining Logistics LP (Western Refining Logistics LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Western Refining Logistics LP (NYSE:WNRL) » Definitions » Intangible Assets

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.wnrl.com

Western Refining Logistics LP is a fee-based limited partnership formed by Western Refining, Inc. to own, operate, develop and acquire terminals, storage tanks, pipelines and other logistics assets related to the transportation and storage of crude oil and refined products. The company operates the business through two reportable segments: logistics and wholesale. The firm's business in the logistics and wholesale business is carried out under commercial and service agreements and generates revenues from sales to Western Refining, Inc.

Executives

David D Kinder	director	510 BERING DRIVE, SUITE 220, HOUSTON TX 77057
Michael C Linn	director	650 WASHINGTON ROAD, 8TH FLOOR, PITTSBURGH PA 15228
Andrew L Atterbury	director	TWO BRUSH CREEK BLVD., SUITE 200, KANSAS CITY MO 64112
Andeavor Llc	10 percent owner	539 SOUTH MAIN STREET, FINDLAY OH 45840-3229
Giant Industries, Inc.	10 percent owner, other: See Remarks	539 S MAIN STREET, FINDLAY OH 45840
Tesoro Alaska Co Llc	10 percent owner	539 SOUTH MAIN STREET, FINDLAY OH 45840-3229
Western Refining Southwest, Inc.	10 percent owner, other: See Remarks	539 SOUTH MAIN STREET, FINDLAY OH 45840-3229
Tesoro Refining & Marketing Co Llc	10 percent owner	539 SOUTH MAIN STREET, FINDLAY OH 45840-3229
Western Refining, Inc.	10 percent owner, other: See Remarks	539 SOUTH MAIN STREET, FINDLAY OH 45840-3229
Tesoro Logistics Gp, Llc	10 percent owner	200 E. HARDIN STREET, FINDLAY OH 45840
Rucker Kim K.w.	officer: EVP and General Counsel	KRAFT FOODS GROUP, INC., THREE LAKES DRIVE, NORTHFIELD IL 60093
Steven Sterin	director, officer: EVP and CFO	19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259
Gregory James Goff	director, officer: Chairman and CEO	19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259
Scott D Weaver	director	C/O WESTERN REFINING, INC., 6500 TROWBRIDGE DRIVE, EL PASO TX 79905
Karen Berriman Davis	officer: EVP and CFO	123 WEST MILLS AVENUE, SUITE 200, EL PASO TX 79901

Western Refining Logistics LP (Western Refining Logistics LP) Headlines

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