Schedule I

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

CrossAmerica Partners LP (Parent Company Only)

Condensed Balance Sheets

(Thousands of Dollars)

	December 31,
	2021		2020

ASSETS
Total current assets	$	115	$	—

Loans to subsidiaries		624,326		512,913
Investment in subsidiaries		73,640		126,469
Other assets		2,916		—
Total assets	$	700,997	$	639,382

LIABILITIES AND EQUITY
Total current liabilities	$	422	$	1,667

Accounts payable to subsidiaries		16,908		16,698
Long-term debt		627,109		509,922
Other long-term liabilities		—		1,427
Total liabilities		644,439		529,714

Commitments and contingencies

Equity:
Common units		53,528		112,124
Accumulated other comprehensive income (loss)		3,030		(2,456	)
Total equity		56,558		109,668
Total liabilities and equity	$	700,997	$	639,382

See Notes to Condensed Financial Statements

Schedule I

CrossAmerica Partners LP (Parent Company Only)

Condensed Statements of Comprehensive Income

(Thousands of Dollars)

	For the Year Ended December 31,
	2021			2020			2019
Interest income from subsidiaries	$	13,818		$	14,684		$	25,058

Costs and expenses
General and administrative		236			153			255
Interest expense		13,818			14,684			25,058
Loss before equity in net income of subsidiaries		(236	)		(153	)		(255	)
Equity in net income of subsidiaries		21,890			107,609			18,331
Net income		21,654			107,456			18,076
Other comprehensive income (loss)		5,486			(2,456	)		—
Comprehensive income	$	27,140		$	105,000		$	18,076

See Notes to Condensed Financial Statements

Schedule I

CrossAmerica Partners LP (Parent Company Only)

Condensed Statements of Cash Flows

(Thousands of Dollars)

	For the Year Ended December 31,
	2021			2020			2019
Cash flows from operating activities:
Net income	$	21,654		$	107,456		$	18,076
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net income of subsidiaries		(21,890	)		(107,609	)		(18,331	)
Amortization of deferred financing costs		1,310			1,042			1,027
Changes in operating assets and liabilities		6,512			(3,318	)		4,062
Net cash provided by operating activities		7,586			(2,429	)		4,834

Cash flows from investing activities:
Loans to subsidiaries		(100,402	)		(106,180	)		(114,300	)
Repayment of loans to subsidiaries		77,500			112,000			93,300
Investment in subsidiary		(94,493	)		—			—
Net cash used in investing activities		(117,395	)		5,820			(21,000	)

Cash flows from financing activities:
Borrowings under revolving credit facilities		194,895			106,180			114,300
Repayments on revolving credit facilities		(77,500	)		(112,000	)		(93,300	)
Payment of deferred financing costs		(1,519	)		—			(3,972	)
Distributions from subsidiaries		73,626			80,353			72,098
Distributions paid on distribution equivalent rights		(141	)		(40	)		(86	)
Distributions paid to holders of the IDRs		—			(133	)		(533	)
Distributions paid on common units		(79,552	)		(77,751	)		(72,341	)
Net cash provided by (used in) financing activities		109,809			(3,391	)		16,166
Net increase (decrease) in cash and cash equivalents		—			—			—

Cash and cash equivalents at beginning of period		—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—

See Notes to Condensed Financial Statements

Note 1. Basis of Presentation

The condensed financial statements represent the financial information required by SEC Regulation S-X Rule 5-04 for CrossAmerica Partners LP (the “Partnership”), which requires the inclusion of parent company only financial statements if the restricted net assets of consolidated subsidiaries exceed 25% of total consolidated net assets as of the last day of its most recent fiscal year. As of December 31, 2021, the Partnership’s restricted net assets of its consolidated subsidiaries were approximately $74.6 million and exceeded 25% of the Partnership’s total consolidated net assets.

The accompanying condensed financial statements have been prepared to present the financial position, results of operations and cash flows of the Partnership on a stand-alone basis as a holding company. Investments in subsidiaries are accounted for using the equity method. The condensed parent company only financial statements should be read in conjunction with the Partnership's consolidated financial statements.

Note 2. Long-Term Debt

The Partnership has a credit facility. See Note 12 to the consolidated financial statements for information on the CAPL Credit Facility.