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Inventories

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

(Millions of dollars)						March 31, 2021						December 31, 2020
Finished products - First-In, First-Out ("FIFO") basis						$	300.0					$	223.0
Less: Last-In, First-Out ("LIFO") reserve - finished products						(192.2)						(101.3)
Finished products - LIFO basis						107.8						121.7
Store merchandise for resale						169.0						152.0
Materials and supplies						6.2						5.4
Total inventories						$	283.0					$	279.1

At March 31, 2021 and December 31, 2020, the replacement cost (market value) of LIFO inventories exceeded the LIFO carrying value by $192.2 million and $101.3 million, respectively. The QuickChek subsidiary values its general merchandise inventory utilizing the LIFO method and values the inventory of gasoline and certain other merchandise items using the FIFO method. The QuickChek LIFO reserve balance for the period was immaterial.

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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