ARKO Corp. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

Goodwill

The Company reports revenue and operating results for its operating segments: retail, wholesale, fleet fueling and GPMP (see Note 24 for a description of these operating segments). The following summarizes the activity in goodwill, by segment:


	Retail		GPMP		Total
	(in thousands)
Beginning balance, January 1, 2024	$	17,752	$	274,421	$	292,173
Goodwill adjustment – WTG Acquisition		—		7,800		7,800
Ending balance, December 31, 2024 and 2025	$	17,752	$	282,221	$	299,973

Intangible Assets, Net

Intangible assets consisted of the following:


	As of December 31,
	2025			2024
	(in thousands)
Wholesale fuel supply agreements	$	219,082		$	219,082
Trade names		39,312			39,401
Options to acquire ownership rights		1,315			1,315
Non-contractual customer relationships		38,520			38,520
Other intangibles		21,796			21,713
Accumulated amortization – Wholesale fuel supply agreements		(97,250	)		(78,338	)
Accumulated amortization – Trade names		(37,393	)		(36,196	)
Accumulated amortization – Options to acquire ownership rights		(817	)		(685	)
Accumulated amortization – Non-contractual customer relationships		(6,026	)		(4,100	)
Accumulated amortization – Other intangibles		(18,403	)		(18,357	)
	$	160,136		$	182,355

Franchise rights and liquor licenses of $2.9 million and $2.8 million as of December 31, 2025 and 2024, respectively, were not being amortized.

Amortization expense related to definite lived intangible assets was $22.2 million, $22.4 million and $23.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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


Future Amortization Expense	Amount
	(in thousands)
2026	$	21,848
2027		20,591
2028		20,125
2029		19,907
2030		19,773
Thereafter		55,000
	$	157,244