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Intangible Assets
12 Months Ended
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets

Note 8. INTANGIBLE ASSETS

Intangible assets consisted of the following (in thousands):

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Gross
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Wholesale fuel supply contracts/rights

 

$

194,626

 

 

$

118,800

 

 

$

75,826

 

 

$

234,501

 

 

$

140,714

 

 

$

93,787

 

Trademarks/licenses

 

 

2,168

 

 

 

869

 

 

 

1,299

 

 

 

2,078

 

 

 

761

 

 

 

1,317

 

Covenant not to compete

 

 

200

 

 

 

83

 

 

 

117

 

 

 

200

 

 

 

43

 

 

 

157

 

Total intangible assets

 

$

196,994

 

 

$

119,752

 

 

$

77,242

 

 

$

236,779

 

 

$

141,518

 

 

$

95,261

 

Amortization expense was $18.1 million, $20.7 million and $21.2 million for 2024, 2023 and 2022, respectively. Aggregate amortization expense is expected to be $16.1 million, $14.3 million, $12.4 million, $11.0 million and $11.0 million for 2025, 2026, 2027, 2028 and 2029, respectively.