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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Petroleum product sales [1] $ 2,371,735 $ 2,858,910 $ 4,260,019 $ 5,216,989
Merchandise sales 589,457 572,164 1,151,194 1,096,301
Other operating revenues 44,570 36,912 84,811 75,460
Total revenues 3,005,762 3,467,986 5,496,024 6,388,750
Costs and Operating Expenses        
Petroleum product cost of goods sold [1] 2,242,936 2,750,602 4,026,065 5,011,688
Merchandise cost of goods sold 496,801 488,540 972,603 939,093
Station and other operating expenses 125,145 122,377 241,919 236,912
Depreciation and amortization 23,685 21,215 47,171 42,318
Selling, general and administrative 32,320 32,886 63,823 63,979
Accretion of asset retirement obligations 412 379 825 757
Total costs and operating expenses 2,921,299 3,415,999 5,352,406 6,294,747
Income (loss) from operations 84,463 51,987 143,618 94,003
Other income (expense)        
Interest income 250 15 330 1,888
Interest expense (10,210) (8,329) (19,598) (16,658)
Gain (loss) on sale of assets (490) (23) 88,975 (19)
Other nonoperating income (expense) 85 (4,854) 118 510
Total other income (expense) (10,365) (13,191) 69,825 (14,279)
Income before income taxes 74,098 38,796 213,443 79,724
Income tax expense 27,788 13,976 81,259 31,387
Income from continuing operations 46,310 24,820 132,184 48,337
Income (loss) from discontinued operations, net of taxes 0 1,371 0 786
Net Income (Loss) $ 46,310 $ 26,191 $ 132,184 $ 49,123
Earnings per share - basic:        
Income from continuing operations (in dollars per share) $ 1.18 $ 0.56 $ 3.29 $ 1.07
Income (loss) from discontinued operations (in dollars per share) 0.00 0.03 0.00 0.02
Net Income - basic (in dollars per share) 1.18 0.59 3.29 1.09
Earnings per share - diluted:        
Income from continuing operations (in dollars per share) 1.17 0.56 3.26 1.07
Income (loss) discontinued operations (in dollars per share) 0.00 0.03 0.00 0.02
Net Income - diluted (in dollars per share) $ 1.17 $ 0.59 $ 3.26 $ 1.09
Weighted-average shares outstanding (in thousands):        
Basic (in shares) 39,360 44,078 40,134 44,851
Diluted (in shares) 39,720 44,409 40,505 45,218
Excise taxes $ 487,923 $ 483,470 $ 960,533 $ 946,444
[1] Includes excise taxes of: $487,923 and $960,533 for the three and six months ended June 30, 2016, and $483,470 and $946,444 for the three and six months ended June 30, 2015.