| Schedule of Reportable Segments |
Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and its subsidiaries selling fuel (both in the Retail and Wholesale segments). The effect of these inter-segment transactions was eliminated in the consolidated financial statements.
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For the three months ended March 31, 2021 |
|
Retail |
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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 |
|
$ |
576,304 |
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|
$ |
525,488 |
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|
$ |
1,155 |
|
|
$ |
— |
|
|
$ |
1,102,947 |
|
Merchandise revenue |
|
|
359,281 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
359,281 |
|
Other revenues, net |
|
|
16,977 |
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|
|
4,939 |
|
|
|
255 |
|
|
|
— |
|
|
|
22,171 |
|
Total revenues from external customers |
|
|
952,562 |
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|
530,427 |
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|
1,410 |
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|
— |
|
|
|
1,484,399 |
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Inter-segment |
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|
— |
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|
|
— |
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|
|
819,467 |
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|
317 |
|
|
|
819,784 |
|
Total revenues from reportable segments |
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|
952,562 |
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|
530,427 |
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|
820,877 |
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|
|
317 |
|
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|
2,304,183 |
|
Operating income |
|
|
40,347 |
|
|
|
2,308 |
|
|
|
20,123 |
|
|
|
317 |
|
|
|
63,095 |
|
Interest and financial expenses, net |
|
|
|
|
|
|
|
|
(3,841 |
) |
|
|
— |
|
|
|
(3,841 |
) |
Income tax expense |
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|
|
|
|
|
|
|
|
|
|
(56 |
) |
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|
(56 |
) |
Loss from equity investment |
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|
|
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|
(6 |
) |
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|
(6 |
) |
Net income from reportable segments |
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$ |
59,192 |
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For the three months ended March 31, 2020 |
|
Retail |
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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 |
|
$ |
532,886 |
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$ |
28,938 |
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$ |
1,217 |
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$ |
— |
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$ |
563,041 |
|
Merchandise revenue |
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|
323,679 |
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|
|
— |
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— |
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|
— |
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|
323,679 |
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Other revenues, net |
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|
11,700 |
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|
1,283 |
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|
215 |
|
|
|
— |
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|
13,198 |
|
Total revenues from external customers |
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|
868,265 |
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|
30,221 |
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|
|
1,432 |
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|
|
— |
|
|
|
899,918 |
|
Inter-segment |
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|
— |
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|
— |
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|
379,125 |
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|
2,378 |
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|
381,503 |
|
Total revenues from reportable segments |
|
|
868,265 |
|
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|
30,221 |
|
|
|
380,557 |
|
|
|
2,378 |
|
|
|
1,281,421 |
|
Operating income |
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|
21,411 |
|
|
|
278 |
|
|
|
8,786 |
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|
2,378 |
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|
32,853 |
|
Interest and financial expenses, net |
|
|
|
|
|
|
|
|
(847 |
) |
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|
23 |
|
|
|
(824 |
) |
Income tax benefit |
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|
|
|
|
|
|
|
|
|
|
(162 |
) |
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|
(162 |
) |
Loss from equity investment |
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|
|
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|
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|
(233 |
) |
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|
(233 |
) |
Net income from reportable segments |
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|
|
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$ |
31,634 |
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| 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 condensed consolidated statements of operations was as follows:
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For the three months ended
March 31, |
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2021 |
|
|
2020 |
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(in thousands) |
|
Total revenues from reportable segments |
|
$ |
2,304,183 |
|
|
$ |
1,281,421 |
|
Other revenues, net |
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|
(43 |
) |
|
|
(38 |
) |
Elimination of inter-segment revenues |
|
|
(819,784 |
) |
|
|
(381,503 |
) |
Total revenues |
|
$ |
1,484,356 |
|
|
$ |
899,880 |
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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 loss on the condensed consolidated statements of operations was as follows:
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For the three months ended
March 31, |
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|
|
2021 |
|
|
2020 |
|
|
|
(in thousands) |
|
Net income from reportable segments |
|
$ |
59,192 |
|
|
$ |
31,634 |
|
Amounts not allocated to segments: |
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|
|
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Other revenues, net |
|
|
(43 |
) |
|
|
(38 |
) |
Store operating expenses |
|
|
577 |
|
|
|
(892 |
) |
General and administrative expenses |
|
|
(26,002 |
) |
|
|
(18,125 |
) |
Depreciation and amortization |
|
|
(22,399 |
) |
|
|
(15,228 |
) |
Other expenses, net |
|
|
(1,672 |
) |
|
|
(4,176 |
) |
Interest and other financial expenses, net |
|
|
(25,093 |
) |
|
|
(8,205 |
) |
Income tax benefit |
|
|
778 |
|
|
|
2,173 |
|
Net loss |
|
$ |
(14,662 |
) |
|
$ |
(12,857 |
) |
|