Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Table)

v3.22.0.1
Segment Reporting (Table)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Reportable Segments The effect of these inter-segment transactions was eliminated in the consolidated financial statements.

 

Year Ended December 31, 2021

 

Retail

 

 

Wholesale

 

 

GPMP

 

 

All Other

 

 

Total

 

 

 

(in thousands)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel revenue

 

$

3,048,893

 

 

$

2,659,706

 

 

$

5,734

 

 

$

 

 

$

5,714,333

 

Merchandise revenue

 

 

1,616,404

 

 

 

 

 

 

 

 

 

 

 

 

1,616,404

 

Other revenues, net

 

 

63,271

 

 

 

22,298

 

 

 

1,092

 

 

 

 

 

 

86,661

 

Total revenues from external customers

 

 

4,728,568

 

 

 

2,682,004

 

 

 

6,826

 

 

 

 

 

 

7,417,398

 

Inter-segment

 

 

 

 

 

 

 

 

4,384,227

 

 

 

1,264

 

 

 

4,385,491

 

Total revenues from reportable segments

 

 

4,728,568

 

 

 

2,682,004

 

 

 

4,391,053

 

 

 

1,264

 

 

 

11,802,889

 

Operating income

 

 

240,233

 

 

 

21,998

 

 

 

91,619

 

 

 

1,264

 

 

 

355,114

 

Interest and financial expenses, net

 

 

 

 

 

 

 

 

(14,363

)

 

 

 

 

 

(14,363

)

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

(221

)

 

 

(221

)

Income from equity investment

 

 

 

 

 

 

 

 

 

 

 

186

 

 

 

186

 

Net income from reportable segments

 

 

 

 

 

 

 

 

 

 

 

 

 

$

340,716

 

 

Year Ended December 31, 2020

 

Retail

 

 

Wholesale

 

 

GPMP

 

 

All Other

 

 

Total

 

 

 

(in thousands)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel revenue

 

$

1,940,303

 

 

$

508,175

 

 

$

3,923

 

 

$

 

 

$

2,452,401

 

Merchandise revenue

 

 

1,494,342

 

 

 

 

 

 

 

 

 

 

 

 

1,494,342

 

Other revenues, net

 

 

53,424

 

 

 

9,335

 

 

 

897

 

 

 

 

 

 

63,656

 

Total revenues from external customers

 

 

3,488,069

 

 

 

517,510

 

 

 

4,820

 

 

 

 

 

 

4,010,399

 

Inter-segment

 

 

 

 

 

 

 

 

1,706,233

 

 

 

3,041

 

 

 

1,709,274

 

Total revenues from reportable segments

 

 

3,488,069

 

 

 

517,510

 

 

 

1,711,053

 

 

 

3,041

 

 

 

5,719,673

 

Operating income

 

 

200,000

 

 

 

3,523

 

 

 

47,036

 

 

 

3,041

 

 

 

253,600

 

Interest and financial expenses, net

 

 

 

 

 

 

 

 

(6,277

)

 

 

(1,817

)

 

 

(8,094

)

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

(303

)

 

 

(303

)

Loss from equity investment

 

 

 

 

 

 

 

 

 

 

 

(1,269

)

 

 

(1,269

)

Net income from reportable segments

 

 

 

 

 

 

 

 

 

 

 

 

 

$

243,934

 

 

Year Ended December 31, 2019

 

Retail

 

 

Wholesale

 

 

GPMP

 

 

All Other

 

 

Total

 

 

 

(in thousands)

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel revenue

 

$

2,537,455

 

 

$

159,597

 

 

$

6,388

 

 

$

 

 

$

2,703,440

 

Merchandise revenue

 

 

1,375,438

 

 

 

 

 

 

 

 

 

 

 

 

1,375,438

 

Other revenues, net

 

 

43,882

 

 

 

5,264

 

 

 

784

 

 

 

 

 

 

49,930

 

Total revenues from external customers

 

 

3,956,775

 

 

 

164,861

 

 

 

7,172

 

 

 

 

 

 

4,128,808

 

Inter-segment

 

 

 

 

 

 

 

 

2,042,714

 

 

 

6,394

 

 

 

2,049,108

 

Total revenues from reportable segments

 

 

3,956,775

 

 

 

164,861

 

 

 

2,049,886

 

 

 

6,394

 

 

 

6,177,916

 

Operating income

 

 

90,454

 

 

 

52

 

 

 

43,500

 

 

 

6,394

 

 

 

140,400

 

Interest and other financial expenses, net

 

 

 

 

 

 

 

 

(2,484

)

 

 

(677

)

 

 

(3,161

)

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

(1,038

)

 

 

(1,038

)

Loss from equity investment

 

 

 

 

 

 

 

 

 

 

 

(507

)

 

 

(507

)

Net income from reportable segments

 

 

 

 

 

 

 

 

 

 

 

 

 

$

135,694

 

Schedule of Reconciliation of Total Revenues from Reportable Segments to Total Revenues

A reconciliation of total revenues from reportable segments to total revenues on the consolidated statements of operations was as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Total revenues from reportable segments

 

$

11,802,889

 

 

$

5,719,673

 

 

$

6,177,916

 

Other revenues, net

 

 

 

 

 

(167

)

 

 

(118

)

Elimination of inter-segment revenues

 

 

(4,385,491

)

 

 

(1,709,274

)

 

 

(2,049,108

)

Total revenues

 

$

7,417,398

 

 

$

4,010,232

 

 

$

4,128,690

 

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:

 

 

 

For the Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Net income from reportable segments

 

$

340,716

 

 

$

243,934

 

 

$

135,694

 

Amounts not allocated to segments:

 

 

 

 

 

 

 

 

 

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

)

 

 

(67,023

)

 

 

(58,031

)

Other expenses, net

 

 

(3,536

)

 

 

(9,228

)

 

 

(3,674

)

Interest and other financial expenses, net

 

 

(58,108

)

 

 

(44,852

)

 

 

(45,045

)

Income tax (expense) benefit

 

 

(11,413

)

 

 

1,802

 

 

 

(5,129

)

Net income (loss)

 

$

59,427

 

 

$

30,639

 

 

$

(47,162

)