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v3.21.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Schedule of Reportable Segments | Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and its subsidiaries selling fuel (both in the Retail and Wholesale segments). The effect of these inter-segment transactions was eliminated in the condensed consolidated financial statements.
|  | Retail |  |  | Wholesale |  |  | GPMP |  |  | All Other |  |  | Total |
For the Three Months Ended June 30, 2021 |  | (in thousands) |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel revenue |  | $ | 768,716 |  |  | $ | 690,521 |  |  | $ | 1,526 |  |  | $ | — |  |  | $ | 1,460,763 |
Merchandise revenue |  |  | 426,365 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 426,365 |
Other revenues, net |  |  | 17,252 |  |  |  | 5,212 |  |  |  | 264 |  |  |  | — |  |  |  | 22,728 |
Total revenues from external customers |  |  | 1,212,333 |  |  |  | 695,733 |  |  |  | 1,790 |  |  |  | — |  |  |  | 1,909,856 |
Inter-segment |  |  | — |  |  |  | — |  |  |  | 1,092,926 |  |  |  | 317 |  |  |  | 1,093,243 |
Total revenues from reportable segments |  |  | 1,212,333 |  |  |  | 695,733 |  |  |  | 1,094,716 |  |  |  | 317 |  |  |  | 3,003,099 |
Operating income |  |  | 71,215 |  |  |  | 5,992 |  |  |  | 23,610 |  |  |  | 317 |  |  |  | 101,134 |
Interest and financial expenses, net |  |  |  |  |  |  |  |  | (3,859 | ) |  |  | — |  |  |  | (3,859 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (55 | ) |  |  | (55 | )
Income from equity investment |  |  |  |  |  |  |  |  |  |  |  | 26 |  |  |  | 26 |
Net income from reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 97,246 |
For the Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel revenue |  | $ | 385,519 |  |  | $ | 21,281 |  |  | $ | 712 |  |  | $ | — |  |  | $ | 407,512 |
Merchandise revenue |  |  | 391,697 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 391,697 |
Other revenues, net |  |  | 13,615 |  |  |  | 1,307 |  |  |  | 179 |  |  |  | — |  |  |  | 15,101 |
Total revenues from external customers |  |  | 790,831 |  |  |  | 22,588 |  |  |  | 891 |  |  |  | — |  |  |  | 814,310 |
Inter-segment |  |  | — |  |  |  | — |  |  |  | 230,178 |  |  |  | — |  |  |  | 230,178 |
Total revenues from reportable segments |  |  | 790,831 |  |  |  | 22,588 |  |  |  | 231,069 |  |  |  | — |  |  |  | 1,044,488 |
Operating income |  |  | 76,767 |  |  |  | 780 |  |  |  | 7,284 |  |  |  | — |  |  |  | 84,831 |
Interest and financial expenses, net |  |  |  |  |  |  |  |  | (921 | ) |  |  | — |  |  |  | (921 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (43 | ) |  |  | (43 | )
Loss from equity investment |  |  |  |  |  |  |  |  |  |  |  | (178 | ) |  |  | (178 | )
Net income from reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 83,689 |
|  | Retail |  |  | Wholesale |  |  | GPMP |  |  | All Other |  |  | Total |
For the Six Months Ended June 30, 2021 |  | (in thousands) |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel revenue |  | $ | 1,345,020 |  |  | $ | 1,216,009 |  |  | $ | 2,681 |  |  | $ | — |  |  | $ | 2,563,710 |
Merchandise revenue |  |  | 785,646 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 785,646 |
Other revenues, net |  |  | 34,229 |  |  |  | 10,151 |  |  |  | 519 |  |  |  | — |  |  |  | 44,899 |
Total revenues from external customers |  |  | 2,164,895 |  |  |  | 1,226,160 |  |  |  | 3,200 |  |  |  | — |  |  |  | 3,394,255 |
Inter-segment |  |  | — |  |  |  | — |  |  |  | 1,912,393 |  |  |  | 634 |  |  |  | 1,913,027 |
Total revenues from reportable segments |  |  | 2,164,895 |  |  |  | 1,226,160 |  |  |  | 1,915,593 |  |  |  | 634 |  |  |  | 5,307,282 |
Operating income |  |  | 111,562 |  |  |  | 8,300 |  |  |  | 43,733 |  |  |  | 634 |  |  |  | 164,229 |
Interest and financial expenses, net |  |  |  |  |  |  |  |  | (7,700 | ) |  |  | — |  |  |  | (7,700 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (111 | ) |  |  | (111 | )
Income from equity investment |  |  |  |  |  |  |  |  |  |  |  | 20 |  |  |  | 20 |
Net income from reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 156,438 |
For the Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel revenue |  | $ | 918,405 |  |  | $ | 50,219 |  |  | $ | 1,929 |  |  | $ | — |  |  | $ | 970,553 |
Merchandise revenue |  |  | 715,376 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 715,376 |
Other revenues, net |  |  | 25,315 |  |  |  | 2,590 |  |  |  | 394 |  |  |  | — |  |  |  | 28,299 |
Total revenues from external customers |  |  | 1,659,096 |  |  |  | 52,809 |  |  |  | 2,323 |  |  |  | — |  |  |  | 1,714,228 |
Inter-segment |  |  | — |  |  |  | — |  |  |  | 609,303 |  |  |  | 2,378 |  |  |  | 611,681 |
Total revenues from reportable segments |  |  | 1,659,096 |  |  |  | 52,809 |  |  |  | 611,626 |  |  |  | 2,378 |  |  |  | 2,325,909 |
Operating income |  |  | 98,178 |  |  |  | 1,058 |  |  |  | 16,070 |  |  |  | 2,378 |  |  |  | 117,684 |
Interest and financial (expenses) income, net |  |  |  |  |  |  |  |  | (1,768 | ) |  |  | 23 |  |  |  | (1,745 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  | (205 | ) |  |  | (205 | )
Loss from equity investment |  |  |  |  |  |  |  |  |  |  |  | (411 | ) |  |  | (411 | )
Net income from reportable segments |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 115,323 |
Schedule of Reconciliation of Total Revenues from Reportable Segments to Total Revenues | A reconciliation of total revenues from reportable segments to total revenues on the condensed consolidated statements of operations is as follows:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Total revenues from reportable segments |  | $ | 3,003,099 |  |  | $ | 1,044,488 |  |  | $ | 5,307,282 |  |  | $ | 2,325,909 |
Other revenues, net |  |  | (42 | ) |  |  | (35 | ) |  |  | (85 | ) |  |  | (73 | )
Elimination of inter-segment revenues |  |  | (1,093,243 | ) |  |  | (230,178 | ) |  |  | (1,913,027 | ) |  |  | (611,681 | )
Total revenues |  | $ | 1,909,814 |  |  | $ | 814,275 |  |  | $ | 3,394,170 |  |  | $ | 1,714,155 |
Schedule of Reconciliation of Net Income from Reportable Segments to Net (Loss) Income | A reconciliation of net income from reportable segments to net income on the condensed consolidated statements of operations is as follows:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Net income from reportable segments |  | $ | 97,246 |  |  | $ | 83,689 |  |  | $ | 156,438 |  |  | $ | 115,323 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |  |  |  |  |
Other revenues, net |  |  | (42 | ) |  |  | (35 | ) |  |  | (85 | ) |  |  | (73 | )
Store operating expenses |  |  | 675 |  |  |  | (801 | ) |  |  | 1,252 |  |  |  | (1,693 | )
General and administrative expenses |  |  | (31,068 | ) |  |  | (19,582 | ) |  |  | (57,070 | ) |  |  | (37,707 | )
Depreciation and amortization |  |  | (23,431 | ) |  |  | (14,970 | ) |  |  | (45,830 | ) |  |  | (30,198 | )
Other expenses, net |  |  | (1,195 | ) |  |  | (1,733 | ) |  |  | (2,867 | ) |  |  | (5,909 | )
Interest and other financial expenses, net |  |  | (8,455 | ) |  |  | (11,592 | ) |  |  | (33,548 | ) |  |  | (19,797 | )
Income tax expense |  |  | (8,157 | ) |  |  | (2,467 | ) |  |  | (7,379 | ) |  |  | (294 | )
Net income |  | $ | 25,573 |  |  | $ | 32,509 |  |  | $ | 10,911 |  |  | $ | 19,652 |

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