Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.0.1
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment The following summarizes the activity in goodwill, by segment:

 

 

 

Retail

 

 

GPMP

 

 

Total

 

 

 

(in thousands)

 

Beginning balance, January 1, 2020

 

$

14,861

 

 

$

119,091

 

 

$

133,952

 

Goodwill attributable to acquisitions during the year

 

 

 

 

 

39,985

 

 

 

39,985

 

Ending balance, December 31, 2020

 

$

14,861

 

 

$

159,076

 

 

$

173,937

 

Goodwill attributable to acquisitions during the year

 

 

 

 

 

7,556

 

 

 

7,556

 

Goodwill adjustment – Empire Acquisition

 

 

 

 

 

16,155

 

 

 

16,155

 

Ending balance, December 31, 2021

 

$

14,861

 

 

$

182,787

 

 

$

197,648

 

Schedule of Finite-Lived Intangible Assets

Intangible assets consisted of the following:

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Wholesale fuel supply agreements

 

$

198,069

 

 

$

198,069

 

Trade names

 

 

34,988

 

 

 

32,494

 

Options to acquire ownership rights and develop stores

 

 

6,372

 

 

 

25,319

 

Other intangibles

 

 

20,641

 

 

 

18,105

 

Accumulated amortization – Wholesale fuel supply agreements

 

 

(23,923

)

 

 

(7,566

)

Accumulated amortization – Trade names

 

 

(29,583

)

 

 

(26,127

)

Accumulated amortization – Options to acquire
   ownership rights and develop stores

 

 

(3,140

)

 

 

(6,376

)

Accumulated amortization – Other intangibles

 

 

(17,431

)

 

 

(15,786

)

 

 

$

185,993

 

 

$

218,132

 

Schedule of Estimated Amortization Expense

Estimated amortization expense for each of the next five years and thereafter is expected to be as follows:

 

Future Amortization Expense

 

Amount

 

 

 

(in thousands)

 

2022

 

$

19,841

 

2023

 

 

18,146

 

2024

 

 

17,283

 

2025

 

 

17,021

 

2026

 

 

16,811

 

Thereafter

 

 

94,366

 

 

 

$

183,468