Annual report pursuant to Section 13 and 15(d)

Other Current Liabilities

v3.22.4
Other Current Liabilities
12 Months Ended
Dec. 31, 2022
Other Liabilities Disclosure [Abstract]  
Other Current Liabilities

10. Other Current Liabilities

The components of other current liabilities were as follows:

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Accrued employee costs

 

$

28,298

 

 

$

30,935

 

Fuel and other taxes

 

 

30,491

 

 

 

31,381

 

Accrued insurance liabilities

 

 

9,881

 

 

 

10,986

 

Accrued expenses

 

 

42,955

 

 

 

35,672

 

Environmental liabilities

 

 

3,425

 

 

 

3,459

 

Deferred vendor income

 

 

12,101

 

 

 

11,654

 

Accrued income taxes payable

 

 

4,056

 

 

 

 

Due to related parties

 

 

 

 

 

258

 

Liabilities resulting from Additional and Contingent Consideration

 

 

5,674

 

 

 

8,813

 

Ares Put Option

 

 

8,575

 

 

 

 

Other accrued liabilities

 

 

8,641

 

 

 

4,330

 

Total other current liabilities

 

$

154,097

 

 

$

137,488

 

 

Ares Put Option

On the Merger Closing Date, the Company entered into an arrangement that guarantees Ares (as defined in Note 12 below) a value of $27.3 million at the end of February 2023 for the shares of common stock received by Ares pursuant to the GPM Equity Purchase Agreement (as defined in Note 17 below), by way of the Company’s purchase of the shares or allotment of additional shares of common stock (the “Ares Put Option”). The embedded derivative recorded for the Ares Put Option has been evaluated under ASC 815, Derivatives and Hedging, and has been determined to not be clearly and closely related to the host instrument. The embedded derivative (a put option) is classified as liability. For further details, see Note 22 below.