Debt - Additional Information (Details) $ in Thousands, ₪ in Millions |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Dec. 20, 2022 |
Dec. 09, 2022 |
Dec. 31, 2022
USD ($)
|
Dec. 31, 2022
ILS (₪)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Oct. 21, 2021
USD ($)
|
Jun. 24, 2021
Sites
|
Dec. 21, 2016
USD ($)
|
|
Debt Instrument [Line Items] | |||||||||
Credit agreement amendment description | Prior to the Eighth Amendment, the PNC Line of Credit bore interest, as elected by GPM at: (a) LIBOR plus a margin of 1.75% or (b) a rate per annum equal to the alternate base rate plus a margin of 0.5%, which was equal to the greatest of (i) the PNC base rate, (ii) the overnight bank funding rate plus 0.5%, and (iii) LIBOR plus 1.0%, subject to the definitions set in the agreement. Every quarter, the LIBOR margin rate and the alternate base rate margin rate were updated based on the quarterly average undrawn availability of the PNC Line of Credit. | Prior to the Eighth Amendment, the PNC Line of Credit bore interest, as elected by GPM at: (a) LIBOR plus a margin of 1.75% or (b) a rate per annum equal to the alternate base rate plus a margin of 0.5%, which was equal to the greatest of (i) the PNC base rate, (ii) the overnight bank funding rate plus 0.5%, and (iii) LIBOR plus 1.0%, subject to the definitions set in the agreement. Every quarter, the LIBOR margin rate and the alternate base rate margin rate were updated based on the quarterly average undrawn availability of the PNC Line of Credit. | |||||||
Line of Credit Facility, Current Borrowing Capacity | $ 256,430 | $ 195,232 | |||||||
Amortization Of Financing Costs And Discounts | 2,514 | 9,304 | $ 2,236 | ||||||
Financing Costs [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Payments of Debt Issuance Costs | 600 | 8,300 | |||||||
Debt Issuance Costs, Gross | 14,100 | 14,600 | |||||||
Accumulated Amortization, Debt Issuance Costs | 4,800 | 3,300 | |||||||
Deferred Finance Costs Recorded as Asset | 500 | 200 | |||||||
Amortization Of Financing Costs And Discounts | $ 2,500 | $ 9,300 | $ 2,200 | ||||||
Senior Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 5.125% | 5.125% | |||||||
Aggregate principal amount of debt issued | $ 450,000 | ||||||||
Purchase Agreement Description | On October 21, 2021, the Company completed a private offering of $450 million aggregate principal amount of 5.125% Senior Notes due 2029 (the “Senior Notes”), pursuant to a note purchase agreement dated October 14, 2021, by and among the Company, certain of the Company’s wholly owned domestic subsidiaries (the “Guarantors”), and BofA Securities, Inc., as representative of the several initial purchasers named therein. The Senior Notes are guaranteed, on an unsecured senior basis, by all of the Guarantors. | On October 21, 2021, the Company completed a private offering of $450 million aggregate principal amount of 5.125% Senior Notes due 2029 (the “Senior Notes”), pursuant to a note purchase agreement dated October 14, 2021, by and among the Company, certain of the Company’s wholly owned domestic subsidiaries (the “Guarantors”), and BofA Securities, Inc., as representative of the several initial purchasers named therein. The Senior Notes are guaranteed, on an unsecured senior basis, by all of the Guarantors. | |||||||
Senior Notes, Noncurrent | $ 450,000 | ||||||||
Revolving Credit Facility [Member] | GPM [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 500,000 | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 700,000 | ||||||||
Capital One Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Credit agreement amendment description | On December 9, 2022, GPMP entered into an amendment to the Capital One Line of Credit to replace LIBOR with SOFR as an interest rate benchmark. Prior to the amendment, the Capital One Line of Credit bore interest, as elected by GPMP at: (a) LIBOR plus a margin of 2.25% to 3.25% or (b) a rate per annum equal to base rate plus a margin of 1.25% to 2.25%, which was equal to the greatest of (i) Capital One’s prime rate, (ii) the one-month LIBOR plus 1.0%, and (iii) the federal funds rate plus 0.5%, subject to the definitions set in the agreement. The margin was determined according to a formula in the Capital One Line of Credit that depends on GPMP’s leverage | ||||||||
Line of Credit Facility, Annual Principal Payment | $ 200,000 | ||||||||
Capital One Credit Facility [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 1.00% | ||||||||
Capital One Credit Facility [Member] | Federal Funds Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 0.50% | ||||||||
Maximum [Member] | Capital One Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt floating rate | 3.25% | ||||||||
Maximum [Member] | Capital One Credit Facility [Member] | Base Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt floating rate | 2.25% | ||||||||
Minimum [Member] | Capital One Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt floating rate | 2.25% | ||||||||
Minimum [Member] | Capital One Credit Facility [Member] | Base Rate [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt floating rate | 1.25% | ||||||||
Bonds (Series C) [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Annual interest rate of bonds percentage | 4.85% | 4.85% | |||||||
Gross proceeds from debt instrument | $ 105,000 | ||||||||
Debt Instrument Redemption Amount Paid | $ 79,000 | ₪ 264 | |||||||
Ares Credit Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Credit agreement amendment description | In February 2020, GPM entered into an agreement with Ares Capital Corporation and certain funds managed or controlled by Ares Capital Management (collectively, “Ares”) to provide financing (as amended, the “Ares Credit Agreement”), in an aggregate principal amount of $225 million, which was secured by a pledge on substantially all of the assets of GPM and certain of its wholly owned subsidiaries (the “Ares Term Loan”). The principal of the Ares Term Loan was payable in four equal quarterly installments in a total amount of 1% per annum with the remaining balance due on the maturity date of February 28, 2027. The Ares Term Loan bore interest at ABR plus 3.75% (which was reduced to 3.50% in March 2021) or LIBOR (not less than 1.5% and not less than 1.0% as amended in March 2021) plus 4.75% (which was reduced to 4.50% in March 2021). | In February 2020, GPM entered into an agreement with Ares Capital Corporation and certain funds managed or controlled by Ares Capital Management (collectively, “Ares”) to provide financing (as amended, the “Ares Credit Agreement”), in an aggregate principal amount of $225 million, which was secured by a pledge on substantially all of the assets of GPM and certain of its wholly owned subsidiaries (the “Ares Term Loan”). The principal of the Ares Term Loan was payable in four equal quarterly installments in a total amount of 1% per annum with the remaining balance due on the maturity date of February 28, 2027. The Ares Term Loan bore interest at ABR plus 3.75% (which was reduced to 3.50% in March 2021) or LIBOR (not less than 1.5% and not less than 1.0% as amended in March 2021) plus 4.75% (which was reduced to 4.50% in March 2021). | |||||||
Proceeds from (Repayments of) Debt | $ 223,000 | ||||||||
PNC Credit Line Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Credit agreement amendment description | On December 20, 2022, GPM entered into an eighth amendment to the PNC Credit Agreement (the “Eighth Amendment”) which effected the following primary changes: (1) extended the maturity date by five years to December 22, 2027; (2) replaced LIBOR with SOFR (as defined in the Eighth Amendment) as an interest rate benchmark, including the replacement of LIBOR Rate Loans, with interest periods of one, two and three months, with adjusted Term SOFR Rate Loans (as defined in the Eighth Amendment), with interest periods of one and three months; (3) revised certain negative covenants to provide additional flexibility, including increased fixed dollar baskets and introduction of basket increases based on average undrawn availability; (4) added cardlock receivables as a portion of the borrowing base under certain circumstances; and (5) increased certain thresholds for events of default. The Company did not incur additional debt or receive any proceeds in connection with the Eighth Amendment. | ||||||||
PNC Credit Line Agreement [Member] | Minimum [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Covenant threshold | 10.00% | 10.00% | |||||||
GPM PNC Term Loan [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, principal payment | $ 32,400 | ||||||||
Agreement with M T Bank [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Credit agreement amendment description | On June 24, 2021, GPM amended and restated its credit agreement with M&T Bank (the “M&T Credit Agreement”) and related master covenant agreement. | On June 24, 2021, GPM amended and restated its credit agreement with M&T Bank (the “M&T Credit Agreement”) and related master covenant agreement. | |||||||
Number of real estate | Sites | 40 | ||||||||
Agreement with M T Bank [Member] | GPM [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Line of Credit Facility, Capacity Available for Trade Purchases | $ 20,000 | ||||||||
Agreement with M T Bank [Member] | GPM [Member] | Real Estate Loan [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Aggregate principal amount of debt issued | $ 35,000 |