| Schedule of Reportable Segments |
Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and its subsidiaries that sell fuel (both in the retail and wholesale segments). The effect of these inter-segment transactions was eliminated in the condensed consolidated financial statements.
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Retail |
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Wholesale |
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GPMP |
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All Other |
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Total |
|
For the Three Months Ended March 31, 2022 |
|
(in thousands) |
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fuel revenue |
|
$ |
854,667 |
|
|
$ |
727,697 |
|
|
$ |
1,162 |
|
|
$ |
— |
|
|
$ |
1,583,526 |
|
Merchandise revenue |
|
|
366,985 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
366,985 |
|
Other revenues, net |
|
|
16,324 |
|
|
|
5,722 |
|
|
|
254 |
|
|
|
— |
|
|
|
22,300 |
|
Total revenues from external customers |
|
|
1,237,976 |
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|
|
733,419 |
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|
|
1,416 |
|
|
|
— |
|
|
|
1,972,811 |
|
Inter-segment |
|
|
— |
|
|
|
— |
|
|
|
1,275,721 |
|
|
|
302 |
|
|
|
1,276,023 |
|
Total revenues from reportable segments |
|
|
1,237,976 |
|
|
|
733,419 |
|
|
|
1,277,137 |
|
|
|
302 |
|
|
|
3,248,834 |
|
Operating income |
|
|
45,679 |
|
|
|
7,413 |
|
|
|
20,607 |
|
|
|
302 |
|
|
|
74,001 |
|
Interest and financial expenses, net |
|
|
|
|
|
|
|
|
(2,445 |
) |
|
|
— |
|
|
|
(2,445 |
) |
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
177 |
|
|
|
177 |
|
Income from equity investment |
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|
|
|
|
|
|
|
|
|
|
9 |
|
|
|
9 |
|
Net income from reportable segments |
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|
|
|
|
|
|
|
|
|
|
|
|
$ |
71,742 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, 2021 |
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Revenues |
|
|
|
|
|
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|
|
|
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|
Fuel revenue |
|
$ |
576,304 |
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|
$ |
525,488 |
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|
$ |
1,155 |
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|
$ |
— |
|
|
$ |
1,102,947 |
|
Merchandise revenue |
|
|
359,281 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
359,281 |
|
Other revenues, net |
|
|
16,977 |
|
|
|
4,939 |
|
|
|
255 |
|
|
|
— |
|
|
|
22,171 |
|
Total revenues from external customers |
|
|
952,562 |
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|
|
530,427 |
|
|
|
1,410 |
|
|
|
— |
|
|
|
1,484,399 |
|
Inter-segment |
|
|
— |
|
|
|
— |
|
|
|
819,467 |
|
|
|
317 |
|
|
|
819,784 |
|
Total revenues from reportable segments |
|
|
952,562 |
|
|
|
530,427 |
|
|
|
820,877 |
|
|
|
317 |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
(56 |
) |
|
|
(56 |
) |
Loss from equity investment |
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|
|
|
|
|
|
|
|
|
|
(6 |
) |
|
|
(6 |
) |
Net income from reportable segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
59,192 |
|
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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, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(in thousands) |
|
Total revenues from reportable segments |
|
$ |
3,248,834 |
|
|
$ |
2,304,183 |
|
Other revenues, net |
|
|
— |
|
|
|
(43 |
) |
Elimination of inter-segment revenues |
|
|
(1,276,023 |
) |
|
|
(819,784 |
) |
Total revenues |
|
$ |
1,972,811 |
|
|
$ |
1,484,356 |
|
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| Schedule of Reconciliation of Net Income from Reportable Segments to Net Income (Loss) |
A reconciliation of net income from reportable segments to net income (loss) on the condensed consolidated statements of operations was as follows:
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|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(in thousands) |
|
Net income from reportable segments |
|
$ |
71,742 |
|
|
$ |
59,192 |
|
Amounts not allocated to segments: |
|
|
|
|
|
|
Other revenues, net |
|
|
— |
|
|
|
(43 |
) |
Store operating expenses |
|
|
584 |
|
|
|
577 |
|
General and administrative expenses |
|
|
(31,079 |
) |
|
|
(26,002 |
) |
Depreciation and amortization |
|
|
(22,794 |
) |
|
|
(22,399 |
) |
Other expenses, net |
|
|
(1,121 |
) |
|
|
(1,672 |
) |
Interest and other financial expenses, net |
|
|
(13,832 |
) |
|
|
(25,093 |
) |
Income tax (expense) benefit |
|
|
(1,182 |
) |
|
|
778 |
|
Net income (loss) |
|
$ |
2,318 |
|
|
$ |
(14,662 |
) |
|