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Assets Held for Sale | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract] |
Assets Held for Sale | Note 3. ASSETS HELD FOR SALE We have classified 12 sites and two sites as held for sale at September 30, 2024 and December 31, 2023, respectively, which are expected to be sold within one year of such classification. Assets held for sale were as follows (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Land |  | $ | 6,322 |  |  | $ | 240 |
Buildings and site improvements |  |  | 4,327 |  |  |  | 380 |
Equipment |  |  | 4,312 |  |  |  | 418 |
Total |  |  | 14,961 |  |  |  | 1,038 |
Less accumulated depreciation |  |  | (3,301 | ) |  |  | (638 | )
Assets held for sale |  | $ | 11,660 |  |  | $ | 400 |
The Partnership has continued to focus on optimizing the class of trade for its assets, which has included divesting certain assets, often lower performing, while seeking to maintain a wholesale fuel supply relationship whenever possible. During the three and nine months ended September 30, 2024, we sold nine and 19 sites for $7.2 million and $19.0 million in proceeds, resulting in net gains of $5.3 million and $11.8 million, respectively. The proceeds for the nine months ended September 30, 2024 include $1.3 million of proceeds initially placed in a Section 1031 exchange escrow account. During the three and nine months ended September 30, 2023, we sold one and eight properties for $0.1 million and $8.3 million in proceeds, resulting in net gains of an insignificant amount and $6.3 million, respectively. The proceeds for the nine months ended September 30, 2023 include $3.6 million of proceeds initially placed in a Section 1031 exchange escrow account. See Note 5 for information regarding impairment charges primarily recorded upon classifying sites within assets held for sale.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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