ARKO Corp. Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

The effect of these inter-segment transactions was eliminated in the consolidated financial statements.


Year Ended December 31, 2023	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
	(in thousands)
Revenues
Fuel revenue	$	3,858,777	$	3,039,904	$	530,937	$	3,681		$	31,073		$	7,464,372
Merchandise revenue		1,838,001		—		—		—			—			1,838,001
Other revenues, net		74,406		25,775		7,818		939			1,420			110,358
Total revenues from external customers		5,771,184		3,065,679		538,755		4,620			32,493			9,412,731
Inter-segment		—		—		—		5,160,146			19,643			5,179,789
Total revenues from segments		5,771,184		3,065,679		538,755		5,164,766			52,136			14,592,520
Operating income		259,326		30,578		34,572		102,446			430			427,352
Interest and other financial expenses, net								(29,487	)		—			(29,487	)
Loss from equity investment											(39	)		(39	)
Net income from segments													$	397,826


Year Ended December 31, 2022	Retail		Wholesale		Fleet Fueling		GPMP			All Other			Total
	(in thousands)
Revenues
Fuel revenue	$	3,887,549	$	3,234,145	$	270,670	$	5,160		$	3,566		$	7,401,090
Merchandise revenue		1,647,642		—		—		—			—			1,647,642
Other revenues, net		67,280		23,451		2,178		1,024			134			94,067
Total revenues from external customers		5,602,471		3,257,596		272,848		6,184			3,700			9,142,799
Inter-segment		—		—		—		5,678,167			4,264			5,682,431
Total revenues from segments		5,602,471		3,257,596		272,848		5,684,351			7,964			14,825,230
Operating income		264,552		33,864		18,382		89,035			792			406,625
Interest and other financial expenses, net								(11,654	)		—			(11,654	)
Income tax benefit											177			177
Loss from equity investment											(74	)		(74	)
Net income from segments													$	395,074


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 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 other financial expenses, net						(14,363	)		—			(14,363	)
Income tax expense									(221	)		(221	)
Income from equity investment									186			186
Net income from segments											$	340,716

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


	For the Year Ended December 31,
	2023			2022			2021
	(in thousands)
Total revenues from segments	$	14,592,520		$	14,825,230		$	11,802,889
Elimination of inter-segment revenues		(5,179,789	)		(5,682,431	)		(4,385,491	)
Total revenues	$	9,412,731		$	9,142,799		$	7,417,398

A reconciliation of net income from segments to net income on the consolidated statements of operations was as follows:


	For the Year Ended December 31,
	2023			2022			2021
	(in thousands)
Net income from segments	$	397,826		$	395,074		$	340,716
Amounts not allocated to segments:
Store operating expenses		(13,647	)		2,264			3,287
General and administrative expenses		(162,132	)		(137,072	)		(121,697	)
Depreciation and amortization		(120,232	)		(94,383	)		(89,822	)
Other expenses, net		(13,327	)		(9,816	)		(3,536	)
Interest and other financial expenses, net		(41,756	)		(48,355	)		(58,108	)
Income tax expense		(12,166	)		(35,734	)		(11,413	)
Net income	$	34,566		$	71,978		$	59,427