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Intangible Assets
12 Months Ended
Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets

Note 8. INTANGIBLE ASSETS

Intangible assets consisted of the following (in thousands):

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

Gross
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Wholesale fuel supply contracts/rights

 

$

234,501

 

 

$

140,714

 

 

$

93,787

 

 

$

232,932

 

 

$

120,168

 

 

$

112,764

 

Trademarks/licenses

 

 

2,078

 

 

 

761

 

 

 

1,317

 

 

 

2,208

 

 

 

1,250

 

 

 

958

 

Covenant not to compete

 

 

200

 

 

 

43

 

 

 

157

 

 

 

650

 

 

 

453

 

 

 

197

 

Total intangible assets

 

$

236,779

 

 

$

141,518

 

 

$

95,261

 

 

$

235,790

 

 

$

121,871

 

 

$

113,919

 

Amortization expense was $20.7 million, $21.2 million and $20.0 million for 2023, 2022 and 2021, respectively. Aggregate amortization expense is expected to be $18.1 million, $16.1 million, $14.3 million, $12.4 million and $11.0 million for 2024, 2025, 2026, 2027 and 2028, respectively.