Schedule of changes in goodwill |
All of the Partnership's goodwill is allocated to the Gasoline Distribution and Station Operations reporting unit. The following represents the changes in goodwill (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill at
December 31, 2011 |
|
2012
Additions |
|
Derecognition
Of Goodwill
Associated
With
Disposition of
Gasoline Stations |
|
Goodwill at
December 31, 2012 |
|
Acquisition of Alliance |
|
$ |
— |
|
$ |
31,432 |
|
$ |
(281 |
) |
$ |
31,151 |
|
Acquisition of gasoline stations from Mutual Oil |
|
|
— |
|
|
1,175 |
|
|
— |
|
|
1,175 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
— |
|
$ |
32,607 |
|
$ |
(281 |
) |
$ |
32,326 |
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of components of intangible assets |
Intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Intangible
Assets |
|
Amortization
Period |
At December 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
Terminalling services |
|
$ |
26,365 |
|
$ |
(7,333 |
) |
$ |
19,032 |
|
20 years |
Customer relationships |
|
|
17,986 |
|
|
(11,178 |
) |
|
6,808 |
|
8-15 years |
Supply contracts |
|
|
39,646 |
|
|
(6,239 |
) |
|
33,407 |
|
5-15 years |
Brand incentive program |
|
|
1,445 |
|
|
(403 |
) |
|
1,042 |
|
5 years |
Software |
|
|
1,139 |
|
|
(1,139 |
) |
|
— |
|
5 years |
Covenants not to compete |
|
|
942 |
|
|
(932 |
) |
|
10 |
|
3-5 years |
Customer contracts |
|
|
307 |
|
|
(307 |
) |
|
— |
|
2 years |
Other intangible assets |
|
|
616 |
|
|
(93 |
) |
|
523 |
|
20 years |
|
|
|
|
|
|
|
|
|
Total intangible assets |
|
$ |
88,446 |
|
$ |
(27,624 |
) |
$ |
60,822 |
|
|
|
|
|
|
|
|
|
|
|
At December 31, 2011 |
|
|
|
|
|
|
|
|
|
|
|
Intangible assets subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
Terminalling services |
|
$ |
26,365 |
|
$ |
(6,015 |
) |
$ |
20,350 |
|
20 years |
Customer relationships |
|
|
17,986 |
|
|
(9,932 |
) |
|
8,054 |
|
8-15 years |
Supply contracts |
|
|
8,510 |
|
|
(2,090 |
) |
|
6,420 |
|
5-15 years |
Brand incentive program |
|
|
1,445 |
|
|
(165 |
) |
|
1,280 |
|
5 years |
Software |
|
|
1,139 |
|
|
(1,139 |
) |
|
— |
|
5 years |
Covenants not to compete |
|
|
942 |
|
|
(877 |
) |
|
65 |
|
3-5 years |
Customer contracts |
|
|
307 |
|
|
(307 |
) |
|
— |
|
2 years |
Other intangible assets |
|
|
616 |
|
|
(75 |
) |
|
541 |
|
20 years |
|
|
|
|
|
|
|
|
|
Total intangible assets |
|
$ |
57,310 |
|
$ |
(20,600 |
) |
$ |
36,710 |
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of estimated annual intangible asset amortization expense for future years |
The estimated annual intangible asset amortization expense for future years ending December 31 is as follows (in thousands):
|
|
|
|
|
2013 |
|
$ |
7,106 |
|
2014 |
|
|
7,075 |
|
2015 |
|
|
6,575 |
|
2016 |
|
|
5,391 |
|
2017 |
|
|
5,047 |
|
Thereafter |
|
|
29,628 |
|
|
|
|
|
Total intangible assets |
|
$ |
60,822 |
|
|
|
|
|
|