ARKO Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Summary of components of lease cost recorded on the consolidated statements of operations

The components of lease cost recorded on the condensed consolidated statements of operations were as follows:


	For the Three Months Ended March 31,
	2023			2022
	(in thousands)
Finance lease cost:
Depreciation of right-of-use assets	$	2,853		$	3,047
Interest on lease liabilities		4,162			4,371
Operating lease costs included in store operating expenses		41,584			34,295
Operating lease costs included in general and administrative expenses		534			387
Lease cost related to variable lease payments, short-term leases and leases of low value assets		690			644
Right-of-use asset impairment charges and gain on disposals of leases		(540	)		—
Total lease costs	$	49,283		$	42,744

Summary of supplemental balance sheet data related to leases

Supplemental balance sheet date related to leases was as follows:


	March 31, 2023			December 31, 2022
	(in thousands)
Operating leases
Weighted average remaining lease term (in years)		14.4			14.1
Weighted average discount rate		7.7	%		7.7	%
Financing leases
Weighted average remaining lease term (in years)		23.3			23.4
Weighted average discount rate		7.2	%		7.2	%

Operating & Finance Leases, Liability, Maturity

The minimum lease payments

presented below include periods where an option is reasonably certain to be exercised and do not take into consideration any future consumer price index adjustments for these agreements.


	Operating			Financing
	(in thousands)
April 2023 through March 2024	$	169,352		$	21,661
April 2024 through March 2025		170,968			21,002
April 2025 through March 2026		171,661			20,997
April 2026 through March 2027		170,326			20,739
April 2027 through March 2028		168,148			20,762
Thereafter		1,639,282			419,655
Gross lease payments	$	2,489,737		$	524,816
Less: imputed interest		(1,041,336	)		(294,600	)
Total lease liabilities	$	1,448,401		$	230,216