Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Concentration Risk [Line Items] |
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Schedule of credit loss allowance included in accounts receivable |
The following table presents changes in the credit loss allowance for the years ended December 31 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Write-offs | | | | | | | | | | Balance at | | Current | | Charged | | | | | Balance | | | | Beginning | | Period | | Against Allowance | | Recoveries | | at End | | Description | | of Period | | Provision | | for Credit Losses | | Collected | | of Period | | Year ended December 31, 2022 | | | | | | | | | | | | | | | | | Credit loss allowance—accounts receivable | | $ | 2,741 | | $ | 256 | | $ | (156) | | $ | 221 | | $ | 3,062 | | Year ended December 31, 2021 | | | | | | | | | | | | | | | | | Credit loss allowance—accounts receivable | | $ | 2,555 | | $ | (51) | | $ | (18) | | $ | 255 | | $ | 2,741 | | Year ended December 31, 2020 | | | | | | | | | | | | | | | | | Credit loss allowance—accounts receivable | | $ | 2,729 | | $ | 710 | | $ | (1,054) | | $ | 170 | | $ | 2,555 | |
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Schedule of inventories |
Inventories consisted of the following at December 31 (in thousands): | | | | | | | | | | 2022 | | 2021 | | Distillates: home heating oil, diesel and kerosene | | $ | 205,076 | | $ | 244,067 | | Gasoline | | | 160,386 | | | 123,824 | | Gasoline blendstocks | | | 51,900 | | | 50,599 | | Crude oil | | | 2,248 | | | 3,678 | | Residual oil | | | 112,457 | | | 60,286 | | Renewable identification numbers (RINs) | | | 5,098 | | | 4,218 | | Convenience store inventory | | | 29,566 | | | 22,845 | | Total | | $ | 566,731 | | $ | 509,517 | |
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Schedule of estimated useful lives of property and equipment |
The estimated useful lives are as follows: | | | | | Gasoline station buildings, improvements and storage tanks | | 15-25 | years | | Buildings, docks, terminal facilities and improvements | | 5-25 | years | | Gasoline station equipment | | 7 | years | | Fixtures, equipment and capitalized internal use software | | 3-7 | years | |
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Schedule of original contracted terms for operating leases |
The Partnership’s leases have contracted terms as follows: | | | | | Gasoline station and convenience store leases | | 1-20 | years | | Terminal lease arrangements | | 1-5 | years | | Dedicated storage facility leases | | 1-5 | years | | Barge and railcar equipment leases | | 1-10 | years | | Office space leases | | 1-12 | years | | Computer equipment, convenience store equipment and automobile leases | | 1-5 | years | |
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Sales Revenue.. |
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Concentration Risk [Line Items] |
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Schedule of concentration of risk as percentage of consolidated amount |
The following table presents the Partnership’s product sales and other revenues as a percentage of the consolidated sales for the years ended December 31: | | | | | | | | | | | | 2022 | | 2021 | | 2020 | | Gasoline sales: gasoline and gasoline blendstocks (such as ethanol) | | | 67 | % | 72 | % | 70 | % | Distillates (home heating oil, diesel and kerosene) and residual oil sales | | | 30 | % | 24 | % | 24 | % | Crude oil sales and crude oil logistics revenue | | | — | % | 1 | % | 1 | % | Convenience store and prepared food sales, rental income and sundries | | | 3 | % | 3 | % | 5 | % | Total | | | 100 | % | 100 | % | 100 | % |
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Product Margin |
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Concentration Risk [Line Items] |
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Schedule of concentration of risk as percentage of consolidated amount |
The following table presents the Partnership’s product margin (product sales minus product costs) by segment as a percentage of the consolidated product margin for the years ended December 31: | | | | | | | | | | 2022 | | 2021 | | 2020 | | Wholesale segment | | 24 | % | 17 | % | 23 | % | Gasoline Distribution and Station Operations segment | | 72 | % | 81 | % | 75 | % | Commercial segment | | 4 | % | 2 | % | 2 | % | Total | | 100 | % | 100 | % | 100 | % |
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