Retail and Wholesale Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

Additionally, we recorded the following to reflect the acquisition of the Assets (in thousands):

Motor fuel inventory	$	863
Property and equipment, net		23,590
Right-of-use assets, net		4,168
Intangible assets, net		35,010
Total assets	$	63,631

Current portion of operating lease obligations	$	1,217
Operating lease obligations, less current portion		5,391
Asset retirement obligations		1,240
Other long-term liabilities		3,194
Total liabilities	$	11,042
Net assets acquired	$	52,589

Cash received from Circle K in lieu of Removed Properties	$	14,065
Cash received from Circle K related to net liabilities assumed		2,331
Total cash received from Circle K	$	16,396
Total fair value of assets received in CST Fuel Supply Exchange	$	68,985

Retail and Wholesale Acquisition [Member]

Business Acquisition [Line Items]

Schedule of Acquisition of Assets

Certain of the Sellers are under common control with the Partnership and thus assets acquired from such entities were recorded at carryover basis with an adjustment to equity pursuant to ASC 805-50. We recorded the following to reflect the acquisition (in thousands, except unit price):

	Common		Not Common
	Control		Control		Total
Common units issued		842,891		—		842,891
Common unit price	$	10.73		—	$	10.73
Value of common units issued		9,044		—		9,044
Purchase price paid in cash		1,785		34,447		36,232
Total purchase price		10,829		34,447		45,276
Portion of purchase price allocated to loss on lease terminations		—		7,988		7,988
Net purchase price allocable to net assets acquired		10,829		26,459		37,288

Inventory		2,086		13,605		15,691
Property and equipment, net		2,139		13,648		15,787
Right-of-use assets, net		17,330		37,215		54,545
Intangible assets, net		2,646		690		3,336
Total assets	$	24,201	$	65,158	$	89,359

Current portion of operating lease obligations	$	2,216	$	5,210	$	7,426
Operating lease obligations, less current portion		15,114		32,005		47,119
Deferred income taxes		89		—		89
Asset retirement obligations		614		1,328		1,942
Other long-term liabilities		214		156		370
Total liabilities	$	18,247	$	38,699	$	56,946
Net assets acquired	$	5,954	$	26,459	$	32,413

Contribution to equity for excess of net assets acquired from entities under common control over portion of purchase price paid in cash	$	4,169			$	4,169