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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The Company's goodwill is assigned to its Marketing segment and none of the goodwill is deductible for tax purposes.
(Millions of dollars) |  | March 31, 2021
Balance as of January 1, 2021 |  | $ | — |
QuickChek acquisition |  | 336.4 |
Ending balance as of March 31, 2021 |  | $ | 336.4 |
We amortize intangible assets subject to amortization on a straight-line or accelerated basis based on the period for which the economic benefits of the asset or liability are expected to be realized. In connection with our acquisition of QuickChek on January 29, 2021, we recorded the following amounts of intangible assets in addition to one prior intangible asset.
|  |  |  | Remaining Useful Life
(Millions of dollars) |  | Carrying Value |  | (in years)
Intangible assets subject to amortization: |  |  |  |
Pipeline space |  | $ | 34.4 |  |  | 34.4
Intangible lease liability |  | (9.0) |  |  | 15.3
Intangible assets not subject to amortization: |  |  |  |
Tradename |  | 115.4 |  | n/a
Liquor licenses |  | 0.5 |  | n/a
Total intangible assets |  | $ | 141.3 |  |  |
Intangible assets subject to amortization at March 31, 2021 and December 31, 2020 consisted of the following:
|  | March 31, 2021 |  | December 31, 2020
(Millions of dollars) |  | Cost |  | Net |  | Cost |  | Net
Pipeline space |  | $ | 39.6 |  |  | $ | 34.4 |  |  | $ | 39.6 |  |  | $ | 34.6 |
Intangible lease liability |  | (9.1) |  |  | (9.0) |  |  | — |  |  | — |
|  | $ | 30.5 |  |  | $ | 25.4 |  |  | $ | 39.6 |  |  | $ | 34.6 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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