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Segment Reporting | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting | Note 16. SEGMENT REPORTING We conduct our business in two segments: 1) the Wholesale segment and 2) the Retail segment. The Wholesale segment includes the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, DMS, Circle K and through September 2019, company operated retail sites. We have exclusive motor fuel distribution contracts with lessee dealers who lease the property from us. We also have exclusive distribution contracts with independent dealers to distribute motor fuel but do not collect rent from the independent dealers. Similar to lessee dealers, we have motor fuel distribution agreements with DMS and Circle K and collect rent from both. The Retail segment includes the retail sale of motor fuel at retail sites operated by commission agents and through September 2019, the sale of convenience merchandise items and the retail sale of motor fuel at company operated sites. A commission agent is a retail site where we retain title to the motor fuel inventory and sell it directly to our end user customers. At commission agent retail sites, we manage motor fuel inventory pricing and retain the gross profit on motor fuel sales, less a commission to the agent who operates the retail site. Similar to our Wholesale segment, we also generate revenues through leasing or subleasing real estate in our Retail segment. Unallocated items consist primarily of general and administrative expenses, depreciation, amortization and accretion expense, gains on dispositions and lease terminations, net, and the elimination of the Retail segment’s intersegment cost of revenues from motor fuel sales against the Wholesale segment’s intersegment revenues from motor fuel sales. The profit in ending inventory generated by the intersegment motor fuel sales is also eliminated. Total assets by segment are not presented as management does not currently assess performance or allocate resources based on that data. The following table reflects activity related to our reportable segments (in thousands):
|  | Wholesale |  |  | Retail |  |  | Unallocated |  |  | Consolidated |
Three Months Ended March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 302,123 |  |  | $ | 65,769 |  |  | $ | — |  |  | $ | 367,892 |
Intersegment revenues from fuel sales |  |  | 47,906 |  |  |  | — |  |  |  | (47,906 | ) |  |  | — |
Rent income |  |  | 20,468 |  |  |  | 2,220 |  |  |  | — |  |  |  | 22,688 |
Other revenue |  |  | 1,115 |  |  |  | — |  |  |  | — |  |  |  | 1,115 |
Total revenues |  | $ | 371,612 |  |  | $ | 67,989 |  |  | $ | (47,906 | ) |  | $ | 391,695 |
Income from CST Fuel Supply equity interests |  | $ | 3,202 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,202 |
Operating income |  | $ | 29,265 |  |  | $ | 395 |  |  | $ | 47,772 |  |  | $ | 77,432 |
Three Months Ended March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 329,913 |  |  | $ | 99,600 |  |  | $ | — |  |  | $ | 429,513 |
Intersegment revenues from fuel sales |  |  | 75,881 |  |  |  | — |  |  |  | (75,881 | ) |  |  | — |
Revenues from food and merchandise sales |  |  | — |  |  |  | 20,016 |  |  |  | — |  |  |  | 20,016 |
Rent income |  |  | 19,636 |  |  |  | 2,002 |  |  |  | — |  |  |  | 21,638 |
Other revenue |  |  | 619 |  |  |  | — |  |  |  | — |  |  |  | 619 |
Total revenues |  | $ | 426,049 |  |  | $ | 121,618 |  |  | $ | (75,881 | ) |  | $ | 471,786 |
Income from CST Fuel Supply equity interests |  | $ | 3,426 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,426 |
Operating income (loss) |  | $ | 24,288 |  |  | $ | 608 |  |  | $ | (17,284 | ) |  | $ | 7,612 |
From the dealerization of the 46 company operated sites in the third quarter of 2019 through March 31, 2020, we did not have any company operated sites. See Note 4 for information related to the acquisition of retail and wholesale assets. Receivables relating to the revenue streams above are as follows (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Receivables from fuel and merchandise sales |  | $ | 21,037 |  |  | $ | 33,032 |
Receivables for rent and other lease-related charges |  |  | 8,686 |  |  |  | 9,318 |
Total accounts receivable |  | $ | 29,723 |  |  | $ | 42,350 |
Performance obligations are satisfied as fuel is delivered to the customer. Many of our contracts with our customers include minimum purchase volumes measured on a monthly basis, although such revenue is not material. Receivables from fuel are recognized on a per-gallon rate and are generally collected within 10 days of delivery. The balance of unamortized costs incurred to obtain certain contracts with customers was $6.7 million and $6.5 million at March 31, 2020 and December 31, 2019, respectively. Amortization of such costs is recorded against operating revenues and amounted to $0.3 million for the three months ended March 31, 2020 and $0.2 million for the three months ended March 31, 2019. Receivables from rent and other lease-related charges are generally collected at the beginning of the month.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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