Schedule of Reportable Segments |
The effect of these inter-segment transactions was eliminated in the consolidated financial statements.
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Year Ended December 31, 2021 |
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Retail |
|
|
Wholesale |
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|
GPMP |
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|
All Other |
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|
Total |
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|
(in thousands) |
|
Revenues |
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|
|
|
|
|
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|
|
|
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|
|
|
|
Fuel revenue |
|
$ |
3,048,893 |
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|
$ |
2,659,706 |
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|
$ |
5,734 |
|
|
$ |
— |
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|
$ |
5,714,333 |
|
Merchandise revenue |
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|
1,616,404 |
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|
|
— |
|
|
|
— |
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|
|
— |
|
|
|
1,616,404 |
|
Other revenues, net |
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|
63,271 |
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|
22,298 |
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|
|
1,092 |
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|
|
— |
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|
86,661 |
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Total revenues from external customers |
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4,728,568 |
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2,682,004 |
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|
6,826 |
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|
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— |
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7,417,398 |
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Inter-segment |
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— |
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— |
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4,384,227 |
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|
1,264 |
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|
4,385,491 |
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Total revenues from reportable segments |
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4,728,568 |
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2,682,004 |
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|
4,391,053 |
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|
1,264 |
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|
11,802,889 |
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Operating income |
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|
240,233 |
|
|
|
21,998 |
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|
|
91,619 |
|
|
|
1,264 |
|
|
|
355,114 |
|
Interest and financial expenses, net |
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|
|
|
|
|
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|
(14,363 |
) |
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— |
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|
|
(14,363 |
) |
Income tax expense |
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|
|
|
|
|
|
|
|
|
|
(221 |
) |
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|
(221 |
) |
Income from equity investment |
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|
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|
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|
186 |
|
|
|
186 |
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Net income from reportable segments |
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$ |
340,716 |
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|
Year Ended December 31, 2020 |
|
Retail |
|
|
Wholesale |
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|
GPMP |
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|
All Other |
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Total |
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(in thousands) |
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Revenues |
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|
|
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Fuel revenue |
|
$ |
1,940,303 |
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$ |
508,175 |
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|
$ |
3,923 |
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$ |
— |
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$ |
2,452,401 |
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Merchandise revenue |
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|
1,494,342 |
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— |
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— |
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|
— |
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1,494,342 |
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Other revenues, net |
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53,424 |
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|
9,335 |
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|
897 |
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|
|
— |
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|
63,656 |
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Total revenues from external customers |
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|
3,488,069 |
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|
517,510 |
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|
4,820 |
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|
|
— |
|
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|
4,010,399 |
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Inter-segment |
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— |
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— |
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|
1,706,233 |
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|
3,041 |
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|
1,709,274 |
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Total revenues from reportable segments |
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|
3,488,069 |
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|
517,510 |
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|
1,711,053 |
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|
3,041 |
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|
5,719,673 |
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Operating income |
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|
200,000 |
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|
3,523 |
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|
47,036 |
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|
|
3,041 |
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|
253,600 |
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Interest and financial expenses, net |
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|
|
|
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|
|
|
(6,277 |
) |
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|
(1,817 |
) |
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|
(8,094 |
) |
Income tax expense |
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|
(303 |
) |
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|
(303 |
) |
Loss from equity investment |
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(1,269 |
) |
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|
(1,269 |
) |
Net income from reportable segments |
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$ |
243,934 |
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|
Year Ended December 31, 2019 |
|
Retail |
|
|
Wholesale |
|
|
GPMP |
|
|
All Other |
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|
Total |
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(in thousands) |
|
Revenues |
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|
|
|
|
|
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|
|
|
|
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|
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Fuel revenue |
|
$ |
2,537,455 |
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|
$ |
159,597 |
|
|
$ |
6,388 |
|
|
$ |
— |
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|
$ |
2,703,440 |
|
Merchandise revenue |
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|
1,375,438 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
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|
1,375,438 |
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Other revenues, net |
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|
43,882 |
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|
5,264 |
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|
|
784 |
|
|
|
— |
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|
49,930 |
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Total revenues from external customers |
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|
3,956,775 |
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|
|
164,861 |
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|
|
7,172 |
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|
|
— |
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|
4,128,808 |
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Inter-segment |
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— |
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|
— |
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|
|
2,042,714 |
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|
|
6,394 |
|
|
|
2,049,108 |
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Total revenues from reportable segments |
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|
3,956,775 |
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|
|
164,861 |
|
|
|
2,049,886 |
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|
|
6,394 |
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|
6,177,916 |
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Operating income |
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|
90,454 |
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|
52 |
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|
43,500 |
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|
|
6,394 |
|
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|
140,400 |
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Interest and other financial expenses, net |
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|
|
|
|
|
|
|
(2,484 |
) |
|
|
(677 |
) |
|
|
(3,161 |
) |
Income tax expense |
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|
|
|
|
|
|
|
|
|
|
(1,038 |
) |
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|
(1,038 |
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Loss from equity investment |
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|
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|
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|
|
(507 |
) |
|
|
(507 |
) |
Net income from reportable segments |
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|
|
|
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|
|
|
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|
|
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$ |
135,694 |
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|
Schedule of Reconciliation of Net Income from Reportable Segments to Net (Loss) Income |
A reconciliation of net income from reportable segments to net income (loss) on the consolidated statements of operations was as follows:
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For the Year Ended December 31, |
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|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
|
(in thousands) |
|
Net income from reportable segments |
|
$ |
340,716 |
|
|
$ |
243,934 |
|
|
$ |
135,694 |
|
Amounts not allocated to segments: |
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|
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Other revenues, net |
|
|
— |
|
|
|
(167 |
) |
|
|
(118 |
) |
Store operating expenses |
|
|
3,287 |
|
|
|
(2,380 |
) |
|
|
(4,116 |
) |
General and administrative expenses |
|
|
(121,697 |
) |
|
|
(91,447 |
) |
|
|
(66,743 |
) |
Depreciation and amortization |
|
|
(89,822 |
) |
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(67,023 |
) |
|
|
(58,031 |
) |
Other expenses, net |
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|
(3,536 |
) |
|
|
(9,228 |
) |
|
|
(3,674 |
) |
Interest and other financial expenses, net |
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|
(58,108 |
) |
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(44,852 |
) |
|
|
(45,045 |
) |
Income tax (expense) benefit |
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|
(11,413 |
) |
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|
1,802 |
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|
|
(5,129 |
) |
Net income (loss) |
|
$ |
59,427 |
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|
$ |
30,639 |
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|
$ |
(47,162 |
) |
|