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

Annual report pursuant to Section 13 and 15(d)

Other Current Liabilities

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.