Case Study: NuStar streamlines ASC 842 lease accounting with insightsoftware LeaseAccelerator

NuStar - Customer Case Study

NuStar Energy L.P., an $8 billion master limited partnership with extensive pipeline and terminal operations, faced the significant challenge of implementing the new ASC 842 lease accounting standard. Their diverse portfolio of real estate, equipment, and marine vessel leases made data collection and contract interpretation a complex and time-consuming process. To address this, NuStar partnered with insightSoftware and utilized its LeaseAccelerator product to manage the transition.

The solution from insightSoftware centralized all leasing data into a single, manageable repository. This enabled NuStar to successfully adopt ASC 842 on schedule. The accounting team efficiently met its monthly close and SEC filing deadlines. The implementation also delivered unexpected benefits, providing new visibility that allowed the company to identify and renegotiate inefficient long-term equipment rentals, leading to more cost-effective contracts.

NuStar