Refining and Marketing | Asphalt | Retail | Total | |||||||||||||
Balance at December 31, 2013 | $ | 39,028 | $ | 16,726 | $ | 50,189 | $ | 105,943 | ||||||||
Decrease of goodwill (1) | — | (4,030 | ) | — | (4,030 | ) | ||||||||||
Balance at December 31, 2014 | 39,028 | 12,696 | 50,189 | 101,913 | ||||||||||||
Decrease of goodwill (2) | (39,028 | ) | — | — | (39,028 | ) | ||||||||||
Balance at December 31, 2015 | — | 12,696 | 50,189 | 62,885 | ||||||||||||
Increase of goodwill | — | — | — | — | ||||||||||||
Balance at December 31, 2016 | $ | — | $ | 12,696 | $ | 50,189 | $ | 62,885 | ||||||||
(1) | During the year ended December 31, 2014, we sold our Willbridge, Oregon asphalt terminal, which was allocated goodwill of $4,030 at the time of disposition. |
(2) | The volatility in the crude price environment during 2015 caused a reduction in the growth rate for U.S. crude oil production, which subsequently caused a reduction in U.S. crude oil price discounts compared to waterborne crude prices. As a result, we have delayed planned projects within the California refining reporting unit, which had a negative effect on the timing of future cash flows. We recognized a goodwill impairment loss of $39,028 related to our California refining reporting unit for the year ended December 31, 2015. |