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

Goodwill and Intangible Assets (Tables)

v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
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, 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

 
Schedule of Finite-Lived Intangible Assets

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

 
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)

 

2026

 

$

21,848

 

2027

 

 

20,591

 

2028

 

 

20,125

 

2029

 

 

19,907

 

2030

 

 

19,773

 

Thereafter

 

 

55,000

 

 

$

157,244