Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of Property and Equipment Depreciation Estimated Useful Lives Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets as follows:

 

 

 

Range in Years

 

Buildings and leasehold improvements

 

15 to 40

 

Signs

 

5 to 15

 

Other equipment (primarily office equipment)

 

5 to 7

 

Computers, software and licenses

 

3 to 5

 

Motor vehicles

 

 

7

 

Fuel equipment

 

5 to 30

 

Equipment in convenience stores

 

5 to 15

 

Schedule of Goodwill and Intangible Assets Amortization of finite lived intangible assets is provided using the straight-line method of amortization over the estimated useful lives of the intangible assets as follows:

 

 

 

Range in Years

Goodwill

 

Indefinite life

Trade names

 

5

Wholesale fuel supply contracts

 

9 to 14

Option to acquire ownership rights

 

6 to 15

Option to develop stores

 

5

Liquor licenses

 

Indefinite life

Franchise rights

 

9 to 20

Schedule Of Purchases From Suppliers

Total purchases from suppliers who accounted for 10% or more of total purchases for the periods presented were as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Fuel products - Supplier A

 

$

776,314

 

 

$

312,231

 

 

$

420,805

 

Fuel products - Supplier B

 

 

638,928

 

 

 

256,606

 

 

 

401,657

 

Merchandise products - Supplier C

 

 

645,257

 

 

 

653,994

 

 

 

610,685

 

Schedule of Lease Term and Useful Life of Assets

Right-of-use assets under financing leases are depreciated based on the straight-line method over the shorter period of lease term and the useful life of the underlying asset, with weighted average depreciation periods are as follows:

 

 

 

Years

 

Leasehold improvements, buildings and real estate assets

 

 

28

 

Equipment

 

 

6