Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Intangible Assets (Tables)

v3.25.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment The following summarizes the activity in goodwill, by segment:

 

 

 

Retail

 

 

GPMP

 

 

Total

 

 

 

(in thousands)

 

Beginning balance, January 1, 2023

 

$

14,861

 

 

$

202,436

 

 

$

217,297

 

Goodwill attributable to acquisitions during the year

 

 

—

 

 

 

71,570

 

 

 

71,570

 

Goodwill adjustment – Pride Acquisition

 

 

2,891

 

 

 

415

 

 

 

3,306

 

Ending balance, December 31, 2023

 

$

17,752

 

 

$

274,421

 

 

$

292,173

 

Goodwill adjustment – WTG Acquisition

 

 

—

 

 

 

7,800

 

 

 

7,800

 

Ending balance, December 31, 2024

 

$

17,752

 

 

$

282,221

 

 

$

299,973

 

 
Schedule of Finite-Lived Intangible Assets

Intangible assets consisted of the following:

 

 

 

As of December 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Wholesale fuel supply agreements

 

$

219,082

 

 

$

219,262

 

Trade names

 

 

39,401

 

 

 

39,584

 

Options to acquire ownership rights

 

 

1,315

 

 

 

3,241

 

Non-contractual customer relationships

 

 

38,520

 

 

 

46,720

 

Other intangibles

 

 

21,713

 

 

 

21,825

 

Accumulated amortization – Wholesale fuel supply agreements

 

 

(78,338

)

 

 

(59,383

)

Accumulated amortization – Trade names

 

 

(36,196

)

 

 

(34,891

)

Accumulated amortization – Options to acquire ownership rights

 

 

(685

)

 

 

(1,377

)

Accumulated amortization – Non-contractual customer relationships

 

 

(4,100

)

 

 

(2,413

)

Accumulated amortization – Other intangibles

 

 

(18,357

)

 

 

(18,016

)

 

$

182,355

 

 

$

214,552

 
Schedule of Estimated Amortization Expense

Estimated amortization expense for each of the next five years and thereafter is expected to be as follows:

 

Future Amortization Expense

 

Amount

 

 

 

(in thousands)

 

2025

 

$

22,237

 

2026

 

 

21,888

 

2027

 

 

20,615

 

2028

 

 

20,129

 

2029

 

 

19,907

 

Thereafter

 

 

74,753

 

 

$

179,529