XML 19 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]      
Operating revenues $ 1,932,323 $ 2,149,429 $ 2,445,917
Cost of sales 1,720,196 1,994,792 2,273,122
Gross profit 212,127 154,637 172,795
Income from CST Fuel Supply equity interests 3,202 14,768 14,948
Operating expenses:      
Operating expenses 90,928 52,554 61,919
General and administrative expenses 20,991 16,849 17,966
Depreciation, amortization and accretion expense 68,742 55,032 66,549
Total operating expenses 180,661 124,435 146,434
Gain (loss) on dispositions and lease terminations, net 80,924 (1,648) (6,297)
Operating income [1] 115,592 43,322 35,012
Other income, net 503 524 373
Interest expense (16,587) (27,000) (32,872)
Income before income taxes 99,508 16,846 2,513
Income tax benefit (7,948) (1,230) (2,733)
Net income 107,456 18,076 5,246
Less: net loss attributable to noncontrolling interests     (5)
Net income attributable to limited partners 107,456 18,076 5,251
IDR distributions (133) (533) (1,579)
Net income available to limited partners $ 107,323 $ 17,543 $ 3,672
Basic and diluted earnings per common unit $ 2.87 $ 0.51 $ 0.11
Weighted-average limited partner units:      
Basic common units 37,369,487 34,454,369 34,345,298
Diluted common units 37,369,487 34,484,801 34,345,298
Supplemental information:      
(a) Includes excise taxes of: $ 141,429 $ 78,004 $ 97,929
(a) Includes rent income of: 83,233 90,139 85,642
(b) excludes depreciation, amortization and accretion and includes rent expense of: 25,214 27,493 19,723
(c) Includes rent expense of: $ 9,067 $ 379 $ 1,047
[1]

As discussed in Note 2, as a result of the adoption of ASC 842, operating income for 2020 and 2019 is not comparable to operating income for 2018. Most significantly, payments on our previous failed sale-leaseback obligations were characterized as principal and interest expense in periods prior to 2019. Starting in 2019, these payments are characterized as rent expense and thus reduce operating income. These payments for the Wholesale and Retail segments amounted to approximately $6.7 million and $0.5 million for 2018, respectively. Of the total payments, $5.5 million was classified as interest expense in 2018.