Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2021

 

$

14,861

 

 

$

159,076

 

 

$

173,937

 

Goodwill attributable to acquisitions during the year

 

 

—

 

 

 

7,556

 

 

 

7,556

 

Goodwill adjustment – Empire Acquisition

 

 

—

 

 

 

16,155

 

 

 

16,155

 

Ending balance, December 31, 2021

 

$

14,861

 

 

$

182,787

 

 

$

197,648

 

Goodwill attributable to acquisitions during the year

 

 

—

 

 

 

19,585

 

 

 

19,585

 

Goodwill adjustment – Handy Mart Acquisition

 

 

—

 

 

 

64

 

 

 

64

 

Ending balance, December 31, 2022

 

$

14,861

 

 

$

202,436

 

 

$

217,297

 
Schedule of Finite-Lived Intangible Assets

Intangible assets consisted of the following:

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Wholesale fuel supply agreements

 

$

202,512

 

 

$

198,232

 

Trade names

 

 

37,084

 

 

 

35,760

 

Options to acquire ownership rights and develop stores

 

 

6,372

 

 

 

6,372

 

Non-contractual customer relationships

 

 

25,220

 

 

 

—

 

Other intangibles

 

 

21,690

 

 

 

20,473

 

Accumulated amortization – Wholesale fuel supply agreements

 

 

(40,645

)

 

 

(23,932

)

Accumulated amortization – Trade names

 

 

(33,060

)

 

 

(30,341

)

Accumulated amortization – Options to acquire ownership rights and develop stores

 

 

(3,939

)

 

 

(3,140

)

Accumulated amortization – Non-contractual customer relationships

 

 

(525

)

 

 

—

 

Accumulated amortization – Other intangibles

 

 

(17,586

)

 

 

(17,431

)

 

 

$

197,123

 

 

$

185,993

 
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)

 

2023

 

$

20,924

 

2024

 

 

19,954

 

2025

 

 

19,543

 

2026

 

 

19,250

 

2027

 

 

18,009

 

Thereafter

 

 

96,297

 

 

 

$

193,977