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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Petroleum product sales [1] $ 2,394,951 $ 2,770,169 $ 6,654,970 $ 7,987,158
Merchandise sales 598,968 591,584 1,750,162 1,687,885
Other operating revenues 48,819 20,754 133,630 96,214
Total revenues 3,042,738 3,382,507 8,538,762 9,771,257
Costs and Operating Expenses        
Petroleum product cost of goods sold [1] 2,275,487 2,594,273 6,301,552 7,605,961
Merchandise cost of goods sold 503,266 505,200 1,475,869 1,444,293
Station and other operating expenses 127,991 121,551 369,910 358,463
Depreciation and amortization 25,576 21,695 72,747 64,013
Selling, general and administrative 30,726 33,016 94,549 96,995
Accretion of asset retirement obligations 411 380 1,236 1,137
Total costs and operating expenses 2,963,457 3,276,115 8,315,863 9,570,862
Income (loss) from operations 79,281 106,392 222,899 200,395
Other income (expense)        
Interest income 144 20 474 1,908
Interest expense (10,182) (8,382) (29,780) (25,040)
Gain (loss) on sale of assets (335) (4,072) 88,640 (4,091)
Other nonoperating income (expense) 2,848 106 2,966 616
Total other income (expense) (7,525) (12,328) 62,300 (26,607)
Income before income taxes 71,756 94,064 285,199 173,788
Income tax expense 26,265 34,043 107,524 65,430
Income from continuing operations 45,491 60,021 177,675 108,358
Income (loss) from discontinued operations, net of taxes 0 510 0 1,296
Net Income (Loss) $ 45,491 $ 60,531 $ 177,675 $ 109,654
Earnings per share - basic:        
Income from continuing operations (in dollars per share) $ 1.17 $ 1.41 $ 4.47 $ 2.46
Income (loss) from discontinued operations (in dollars per share) 0.00 0.01 0.00 0.03
Net Income - basic (in dollars per share) 1.17 1.42 4.47 2.49
Earnings per share - diluted:        
Income from continuing operations (in dollars per share) 1.16 1.40 4.44 2.44
Income (loss) discontinued operations (in dollars per share) 0.00 0.01 0.00 0.03
Net Income - diluted (in dollars per share) $ 1.16 $ 1.41 $ 4.44 $ 2.47
Weighted-average shares outstanding (in thousands):        
Basic (in shares) 38,896 42,437 39,719 44,038
Diluted (in shares) 39,174 42,760 39,989 44,389
Excise taxes $ 505,814 $ 513,427 $ 1,466,347 $ 1,459,871
[1] Includes excise taxes of: $505,814 and $1,466,347 for the three and nine months ended September 30, 2016, and $513,427 and $1,459,871 for the three and nine months ended September 30, 2015.