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Segment Reporting | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | Note 14. 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 and independent dealers. 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. The retail segment includes the retail sale of motor fuel at retail sites operated by commission agents and the sale of convenience merchandise items and the retail sale of motor fuel at company operated sites. A commission agent site 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, other income, interest expense and income tax expense. Total assets by segment are not presented as management does not currently assess performance or allocate resources based on that data. During the fourth quarter of 2022, we changed our segment reporting to our chief operating decision maker to simplify the assessment of performance of our segments. Prior to the fourth quarter, the wholesale segment included the wholesale fuel gross profit on intersegment sales by our wholesale segment to our retail segment. Likewise, the wholesale segment included an allocation of operating expenses related to the operation of our sites consistent with the allocation of the overall fuel gross profit. Starting in the fourth quarter of 2022, the wholesale segment includes only the fuel gross profit on sales to lessee dealers and independent dealers and the retail segment includes the entire fuel gross profit on sales at our company operated and commission agent sites. Likewise, operating expenses are allocated to each segment based on estimates of the level of effort expended on our 1) lessee and independent dealer business in our wholesale segment; and 2) company operated and commission agent site business in our retail segment. This change simplifies the assessment of performance of our segments and eliminates the intersegment sales inherent in our prior segment reporting. We have recast the results of our segments for the three and six months ended June 30, 2022 to be consistent with our new segment reporting. The following table reflects activity related to our reportable segments (in thousands):
|  | Wholesale |  |  | Retail |  |  | Unallocated |  |  | Consolidated |
Three Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 580,935 |  |  | $ | 455,315 |  |  | $ | — |  |  | $ | 1,036,250 |
Revenues from food and merchandise sales |  |  | — |  |  |  | 83,666 |  |  |  | — |  |  |  | 83,666 |
Rent income |  |  | 17,379 |  |  |  | 3,144 |  |  |  | — |  |  |  | 20,523 |
Other revenue |  |  | 1,164 |  |  |  | 3,793 |  |  |  | — |  |  |  | 4,957 |
Total revenues |  | $ | 599,478 |  |  | $ | 545,918 |  |  | $ | — |  |  | $ | 1,145,396 |
Operating income (loss) |  | $ | 21,775 |  |  | $ | 26,151 |  |  | $ | (20,073 | ) |  | $ | 27,853 |
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 795,924 |  |  | $ | 579,325 |  |  | $ | — |  |  | $ | 1,375,249 |
Revenues from food and merchandise sales |  |  | — |  |  |  | 73,934 |  |  |  | — |  |  |  | 73,934 |
Rent income |  |  | 17,839 |  |  |  | 3,010 |  |  |  | — |  |  |  | 20,849 |
Other revenue |  |  | 1,807 |  |  |  | 3,194 |  |  |  | — |  |  |  | 5,001 |
Total revenues |  | $ | 815,570 |  |  | $ | 659,463 |  |  | $ | — |  |  | $ | 1,475,033 |
Operating income (loss) |  | $ | 24,158 |  |  | $ | 22,571 |  |  | $ | (25,657 | ) |  | $ | 21,072 |
Six Months Ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 1,102,860 |  |  | $ | 858,261 |  |  | $ | — |  |  | $ | 1,961,121 |
Revenues from food and merchandise sales |  |  | — |  |  |  | 148,932 |  |  |  | — |  |  |  | 148,932 |
Rent income |  |  | 35,335 |  |  |  | 6,508 |  |  |  | — |  |  |  | 41,843 |
Other revenue |  |  | 2,411 |  |  |  | 7,248 |  |  |  | — |  |  |  | 9,659 |
Total revenues |  | $ | 1,140,606 |  |  | $ | 1,020,949 |  |  | $ | — |  |  | $ | 2,161,555 |
Operating income (loss) |  | $ | 43,444 |  |  | $ | 40,918 |  |  | $ | (47,399 | ) |  | $ | 36,963 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Revenues from fuel sales to external customers |  | $ | 1,379,045 |  |  | $ | 1,001,567 |  |  | $ | — |  |  | $ | 2,380,612 |
Revenues from food and merchandise sales |  |  | — |  |  |  | 136,281 |  |  |  | — |  |  |  | 136,281 |
Rent income |  |  | 35,316 |  |  |  | 6,160 |  |  |  | — |  |  |  | 41,476 |
Other revenue |  |  | 3,593 |  |  |  | 6,282 |  |  |  | — |  |  |  | 9,875 |
Total revenues |  | $ | 1,417,954 |  |  | $ | 1,150,290 |  |  | $ | — |  |  | $ | 2,568,244 |
Operating income (loss) |  | $ | 45,751 |  |  | $ | 37,699 |  |  | $ | (52,659 | ) |  | $ | 30,791 |
Receivables relating to the revenue streams above are as follows (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Receivables from fuel and merchandise sales |  | $ | 32,683 |  |  | $ | 28,959 |
Receivables for rent and other lease-related charges |  |  | 2,719 |  |  |  | 2,609 |
Total accounts receivable |  | $ | 35,402 |  |  | $ | 31,568 |
Performance obligations are satisfied as fuel is delivered to the customer and as merchandise is sold to the consumer. Many of our fuel contracts with our customers include minimum purchase volumes measured on a monthly basis, although revenue from such shortfalls 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 $10.8 million and $10.9 million at June 30, 2023 and December 31, 2022, respectively. Amortization of such costs is recorded against operating revenues and amounted to $0.5 million and $0.4 million for the three months ended June 30, 2023 and 2022 and $0.9 million for each of the six months ended June 30, 2023 and 2022, respectively. 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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