Common use of Purchases and Related Costs Clause in Contracts

Purchases and Related Costs. Purchases and related costs include (i) the weighted average cost of crude oil, NGL and natural gas sold to customers, (ii) fees incurred for storage and transportation, whether by pipeline, truck, rail, ship or barge and (iii) performance-related bonus costs. These costs are recognized when incurred except in the case of products sold, which are recognized at the time title transfers to our customers. Inventory exchanges under buy/sell transactions are presented net in “Purchases and related costs” in our Consolidated Statements of Operations.

Purchases and Related Costs. Purchases and related costs include (i) the weighted average cost of crude oil, NGL LPG and natural gas sold to customersrefined products obtained in outright purchases, (ii) fees incurred for storage third-party transportation and transportationstorage, whether by pipeline, truck, rail, ship or barge barge, (iii) interest cost attributable to borrowings for inventory stored in a contango market and (iiiiv) performance-related bonus costsaccruals. These costs are recognized when incurred except in the case of products soldpurchased, which are recognized at the time title transfers to our customers. Inventory exchanges under buy/sell transactions are presented net in “Purchases and related costs” in our Consolidated Statements of Operationsus.

Purchases and Related Costs. Purchases and related costs include (i) the weighted average cost of crude oil, oil and NGL and natural gas sold to customers, (ii) fees incurred for storage and transportation, whether by pipeline, truck, rail, ship truck or barge rail and (iii) performance-related bonus costs. These costs are recognized when incurred except in the case of products sold, which are recognized at the time title transfers to our customers. Inventory exchanges under buy/sell transactions are presented net in “Purchases and related costs” in our Consolidated Statements of Operations.