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

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Property and Equipment Depreciation Estimated Useful Lives

Depreciation is recognized using the straight-line method over the estimated useful lives of the related assets as follows:


	Range in Years
Buildings and leasehold improvements	15 to 40
Signs	5 to 15
Other equipment (primarily office equipment)	5 to 7
Computers, software and licenses	3 to 5
Motor vehicles		7
Fuel equipment	5 to 30
Equipment in convenience stores	5 to 15

Schedule of Goodwill and Intangible Assets

Amortization of finite lived intangible assets is provided using the straight-line method of amortization over the estimated useful lives of the intangible assets, with a weighted average remaining amortization period as of December 31, 2023, as follows:


	Range in Years		Weighted Average Remaining Amortization Period
Goodwill	Indefinite life		Indefinite life
Trade names	5			4
Wholesale fuel supply contracts	3 to 14		9
Third-party cardlock site contracts	2		1
Option to acquire ownership rights	10 to 15		7
Non-contractual customer relationships		20		19
Liquor licenses	Indefinite life		Indefinite life
Franchise rights	3 to 20		15

Schedule Of Purchases From Suppliers

Total purchases from suppliers who accounted for 10% or more of total purchases for the periods presented were as follows:


	For the Year Ended December 31,
	2023		2022		2021
	(in thousands)
Fuel products - Supplier A	$	864,021	$	974,156	$	776,314
Fuel products - Supplier B		800,932		758,856	*
Fuel products - Supplier C		708,764		870,982		638,928
Merchandise products - Supplier D		734,638		664,438		645,257

* Purchases did not exceed 10% in period

Schedule of Lease Term and Useful Life of Assets

Right-of-use assets under financing leases are depreciated based on the straight-line method over the shorter period of the lease term and the useful life of the underlying asset, with weighted average depreciation periods as follows:


	Years
Leasehold improvements, buildings and real estate assets		28
Equipment		5