Goodwill and Intangible Assets
|12 Months Ended|
Dec. 31, 2021
|Goodwill And Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets||
9. Goodwill and Intangible Assets
The Company reports revenue and operating results for three operating segments: retail, wholesale and GPMP (see Note 22 for a description of these operating segments). The following summarizes the activity in goodwill, by segment:
Intangible assets consisted of the following:
Franchise rights of $0.2 million and $0.3 million as of December 31, 2021 and 2020, respectively, were not currently being amortized. Liquor licenses of $2.3 million and $0.8 million as of December 31, 2021 and 2020, respectively, were not being amortized. Options to acquire ownership rights, which expired in 2021, of $11.3 million as of December 31, 2020 were not being amortized.
As of December 31, 2021, the weighted average remaining amortization period for wholesale fuel supply agreements, trade names, options to acquire ownership rights and develop stores, and franchise rights are approximately 11 years, three years, seven years and 15 years, respectively. Amortization expense related to definite lived intangible assets was $23.6 million, $12.2 million and $9.0 million for the years ended December 31, 2021, 2020 and 2019, respectively.
Estimated amortization expense for each of the next five years and thereafter is expected to be as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef