ARKO Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Property and Equipment Depreciation Estimated Useful Lives

Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets as follows:


	Range in Years
Buildings and leasehold improvements	15 to 40
Signs	5 to 15
Other equipment (primarily office equipment)	5 to 7
Computers, software and licenses	3 to 5
Motor vehicles		7
Fuel equipment	5 to 30
Equipment in convenience stores	5 to 15

Schedule of Goodwill and Intangible Assets

Amortization of finite lived intangible assets is provided using the straight-line method of amortization over the estimated useful lives of the intangible assets as follows:


		Range in Years
Goodwill		Indefinite life
Trade names		5
Wholesale fuel supply contracts		9 to 14
Option to acquire ownership rights		6 to 15
Option to develop stores		5
Liquor licenses		Indefinite life
Franchise rights		9 to 20

Schedule Of Purchases From Suppliers

Total purchases from suppliers who accounted for 10% or more of total purchases for the periods presented were as follows:


	For the Year Ended December 31,
	2021		2020		2019
	(in thousands)
Fuel products - Supplier A	$	776,314	$	312,231	$	420,805
Fuel products - Supplier B		638,928		256,606		401,657
Merchandise products - Supplier C		645,257		653,994		610,685

Schedule of Lease Term and Useful Life of Assets

Right-of-use assets under financing leases are depreciated based on the straight-line method over the shorter period of lease term and the useful life of the underlying asset, with weighted average depreciation periods are as follows:


	Years
Leasehold improvements, buildings and real estate assets		28
Equipment		6