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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summarized financial information concerning reportable segments consists of the following (in thousands):

For the year ended December 31, 2024						Refining						Logistics						Retail																		Corporate, Eliminations, and Other (1)						Total
Revenues
Fuel revenue						$	7,509,773					$	—					$	474,330																	$	(355,072)					$	7,629,031
Other revenue						224,093						299,532						110,430																		(288,629)						345,426
Total revenues						7,733,866						299,532						584,760																		(643,701)						7,974,457
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs						288,645						—						—																		(288,645)						—
Other cost of revenues (excluding depreciation)						6,860,619						175,590						420,064																		(355,125)						7,101,148
Total cost of revenues (excluding depreciation)						7,149,264						175,590						420,064																		(643,770)						7,101,148
Operating expense (excluding depreciation)						479,737						15,676						88,869																		—						584,282
Depreciation and amortization						91,108						27,033						11,037																		2,412						131,590
General and administrative expense (excluding depreciation)						—						—						—																		108,844						108,844
Equity earnings from refining and logistics investments						(3,663)						(8,242)						—																		—						(11,905)
Acquisition and integration costs						—						—						—																		100						100
Par West redevelopment and other costs						—						—						—																		12,548						12,548
Loss (gain) on sale of assets, net						8						124						(10)																		100						222
Operating income (loss)						$	17,412					$	89,351					$	64,800																	$	(123,935)					$	47,628
Interest expense and financing costs, net																																										(82,793)
Debt extinguishment and commitment costs																																										(1,688)
Other expense, net																																										(1,869)
Equity losses from Laramie Energy, LLC																																										(296)
Loss before income taxes																																										(39,018)
Income tax benefit																																										5,696
Net loss																																										$	(33,322)
Total assets						$	2,723,020					$	693,177					$	236,055																	$	177,119					$	3,829,371
Goodwill						39,821						55,232						34,222																		—						129,275
Capital expenditures						108,920						16,867						6,423																		3,330						135,540

________________________________________________________

(1)Includes eliminations of intersegment revenues and cost of revenues of $643.7 million for the year ended December 31, 2024.

For the year ended December 31, 2023						Refining						Logistics						Retail																		Corporate, Eliminations, and Other (1)						Total
Revenues
Fuel revenue						$	7,821,130					$	—					$	487,709																	$	(347,313)					$	7,961,526
Other revenue						148,350						260,779						104,771																		(243,471)						270,429
Total revenues						7,969,480						260,779						592,480																		(590,784)						8,231,955
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs						243,537						—						—																		(243,537)						—
Other cost of revenues (excluding depreciation)						6,602,297						145,944						437,198																		(347,330)						6,838,109
Total cost of revenues (excluding depreciation)						6,845,834						145,944						437,198																		(590,867)						6,838,109
Operating expense (excluding depreciation)						373,612						24,450						87,525																		—						485,587
Depreciation and amortization						81,017						25,122						11,462																		2,229						119,830
General and administrative expense (excluding depreciation)						—						—						—																		91,447						91,447
Equity earnings from refining and logistics investments						(7,363)						(4,481)						—																		—						(11,844)
Acquisition and integration costs						—						—						—																		17,482						17,482
Par West redevelopment and other costs						—						—						—																		11,397						11,397
Loss (gain) on sale of assets, net						219						—						(308)																		30						(59)
Operating income (loss)						$	676,161					$	69,744					$	56,603																	$	(122,502)					$	680,006
Interest expense and financing costs, net																																										(72,450)
Debt extinguishment and commitment costs																																										(19,182)
Other expense, net																																										(53)
Equity earnings from Laramie Energy, LLC																																										24,985
Income before income taxes																																										613,306
Income tax benefit																																										115,336
Net income																																										$	728,642
Total assets						$	2,904,563					$	530,214					$	256,711																	$	172,462					$	3,863,950
Goodwill						39,821						55,232						34,222																		—						129,275
Capital expenditures						42,711						18,916						18,801																		1,849						82,277

________________________________________________________

(1)Includes eliminations of intersegment revenues and cost of revenues of $590.8 million for the year ended December 31, 2023.

For the year ended December 31, 2022						Refining						Logistics						Retail																		Corporate, Eliminations, and Other (1)						Total
Revenues
Fuel revenue						$	7,029,685					$	—					$	475,351																	$	(308,737)					$	7,196,299
Other revenue						16,375						198,821						94,855																		(184,565)						125,486
Total revenues						7,046,060						198,821						570,206																		$	(493,302)					$	7,321,785
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs						184,694						—						—																		(184,694)						—
Other cost of revenues (excluding depreciation)						6,148,000						109,458						428,712																		(310,156)						6,376,014
Total cost of revenues (excluding depreciation)						6,332,694						109,458						428,712																		(494,850)						6,376,014
Operating expense (excluding depreciation)						236,989						14,988						81,229																		—						333,206
Depreciation and amortization						65,472						20,579						10,971																		2,747						99,769
General and administrative expense (excluding depreciation)						—						—						—																		62,396						62,396
Acquisition and integration costs						—						—						—																		3,663						3,663
Par West redevelopment and other costs						9,003						—						—																		—						9,003
Loss (gain) on sale of assets, net						1						(253)						56																		27						(169)
Operating income (loss)						$	401,901					$	54,049					$	49,238																	$	(67,285)					$	437,903
Interest expense and financing costs, net																																										(68,288)
Debt extinguishment and commitment costs																																										(5,329)
Gain on curtailment of pension obligation																																										—
Other income, net																																										613
Income before income taxes																																										364,899
Income tax expense																																										(710)
Net income																																										$	364,189
Total assets						$	2,580,298					$	412,336					$	244,233																	$	43,780					$	3,280,647
Goodwill						39,821						55,232						34,272																		—						129,325
Capital expenditures						31,967						12,094						7,652																		1,312						53,025

________________________________________________________

(1)Includes eliminations of intersegment revenues and cost of revenues of $493.3 million for the year ended December 31, 2022.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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