2024 Q2 Form 10-Q Financial Statement

#000095017024056002 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $1.133B $941.5M $1.016B
YoY Change -1.05% -7.34% -7.05%
Cost Of Revenue $1.029B $860.2M $934.1M
YoY Change -1.82% -7.91% -7.91%
Gross Profit $104.8M $81.35M $82.06M
YoY Change 7.2% -0.87% 4.1%
Gross Profit Margin 9.24% 8.64% 8.08%
Selling, General & Admin $7.892M $6.838M $5.739M
YoY Change 5.58% 19.15% -11.48%
% of Gross Profit 7.53% 8.41% 6.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.45M $18.72M $19.82M
YoY Change -4.41% -5.54% -2.24%
% of Gross Profit 17.61% 23.01% 24.15%
Operating Expenses $82.16M $77.59M $71.18M
YoY Change 7.3% 9.0% 3.36%
Operating Profit $28.18M -$13.05M $9.110M
YoY Change 1.16% -243.19% -6.27%
Interest Expense $14.21M $10.54M $12.01M
YoY Change 33.0% -12.25% 80.33%
% of Operating Profit 50.42% 131.86%
Other Income/Expense, Net $158.0K $249.0K $261.0K
YoY Change -3.07% -4.6% 100.77%
Pretax Income $14.13M -$23.34M -$2.641M
YoY Change -18.5% 783.64% -182.84%
Income Tax $1.700M -$5.800M -$1.700M
% Of Pretax Income 12.03%
Net Earnings $12.42M -$17.54M -$979.0K
YoY Change -14.53% 1691.62% -119.4%
Net Earnings / Revenue 1.1% -1.86% -0.1%
Basic Earnings Per Share $0.31 -$0.48 -$0.04
Diluted Earnings Per Share $0.31 -$0.48 -$0.04
COMMON SHARES
Basic Shares Outstanding 38.03M 37.98M 37.94M
Diluted Shares Outstanding 38.20M 37.99M 37.94M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.490M $6.278M $7.517M
YoY Change 22.24% -16.48% -32.58%
Cash & Equivalents $5.490M $6.278M $7.517M
Short-Term Investments
Other Short-Term Assets $8.499M $11.07M $11.51M
YoY Change 8.71% -3.86% -41.36%
Inventory $63.58M $58.04M $47.91M
Prepaid Expenses
Receivables $38.93M $35.09M $28.57M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $125.6M $123.3M $111.5M
YoY Change 8.13% 10.59% -9.34%
LONG-TERM ASSETS
Property, Plant & Equipment $685.3M $692.7M $716.9M
YoY Change -3.36% -3.37% -5.32%
Goodwill $99.41M $99.41M $99.41M
YoY Change 0.0% 0.0% 0.0%
Intangibles $85.82M $90.42M $108.3M
YoY Change -17.04% -16.54% 2.68%
Long-Term Investments
YoY Change
Other Assets $20.77M $21.58M $25.45M
YoY Change -25.68% -15.22% -15.31%
Total Long-Term Assets $1.039B $1.056B $1.112B
YoY Change -5.66% -5.04% -3.94%
TOTAL ASSETS
Total Short-Term Assets $125.6M $123.3M $111.5M
Total Long-Term Assets $1.039B $1.056B $1.112B
Total Assets $1.165B $1.179B $1.224B
YoY Change -4.34% -3.62% -4.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $75.28M $71.49M $69.61M
YoY Change -2.17% 2.71% -13.0%
Accrued Expenses $24.30M $24.57M $23.56M
YoY Change -3.07% 4.3% 12.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.183M $3.133M $2.937M
YoY Change 6.63% 6.67% 5.88%
Total Short-Term Liabilities $165.4M $159.9M $157.5M
YoY Change -2.89% 1.5% -6.62%
LONG-TERM LIABILITIES
Long-Term Debt $786.7M $795.8M $777.0M
YoY Change 3.5% 2.42% -2.76%
Other Long-Term Liabilities $51.93M $52.21M $46.92M
YoY Change 12.71% 11.27% 2.83%
Total Long-Term Liabilities $51.93M $52.21M $46.92M
YoY Change 12.71% 11.27% 2.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $165.4M $159.9M $157.5M
Total Long-Term Liabilities $51.93M $52.21M $46.92M
Total Liabilities $1.173B $1.181B $1.168B
YoY Change 0.94% 1.12% -3.14%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$8.179M -$1.818M $55.58M
YoY Change
Total Liabilities & Shareholders Equity $1.165B $1.179B $1.224B
YoY Change -4.34% -3.62% -4.45%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $12.42M -$17.54M -$979.0K
YoY Change -14.53% 1691.62% -119.4%
Depreciation, Depletion And Amortization $18.45M $18.72M $19.82M
YoY Change -4.41% -5.54% -2.24%
Cash From Operating Activities $28.91M $5.816M $11.54M
YoY Change -19.08% -49.59% -59.36%
INVESTING ACTIVITIES
Capital Expenditures $5.306M $6.105M $6.001M
YoY Change -0.39% 1.73% -32.83%
Acquisitions
YoY Change
Other Investing Activities $5.156M -$19.86M $621.0K
YoY Change 28.29% -3297.91% -258.42%
Cash From Investing Activities -$150.0K -$25.96M -$5.380M
YoY Change -88.53% 382.6% -42.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $159.0M
YoY Change 546.26%
Cash From Financing Activities -29.55M 21.44M -14.70M
YoY Change -21.09% -245.87% -5.57%
NET CHANGE
Cash From Operating Activities 28.91M 5.816M 11.54M
Cash From Investing Activities -150.0K -25.96M -5.380M
Cash From Financing Activities -29.55M 21.44M -14.70M
Net Change In Cash -788.0K 1.288M -8.537M
YoY Change -73.96% -115.09% -343.84%
FREE CASH FLOW
Cash From Operating Activities $28.91M $5.816M $11.54M
Capital Expenditures $5.306M $6.105M $6.001M
Free Cash Flow $23.60M -$289.0K $5.537M
YoY Change -22.36% -105.22% -71.54%

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11538000
CY2024Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
45000
CY2023Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
53000
CY2023Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
568000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6105000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6001000
CY2024Q1 capl Payments For Lease Termination On Purchases Of Inventory
PaymentsForLeaseTerminationOnPurchasesOfInventory
19904000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25964000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5380000
CY2024Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
49000000
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
187400000
CY2024Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
6740000
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
15537000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
158980000
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
744000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
698000
CY2024Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
74000
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
6906000
CY2024Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
65000
CY2023Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
56000
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19941000
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19918000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21436000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14695000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1288000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8537000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4990000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16054000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6278000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7517000
CY2023Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
3007000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-17540000
CY2024Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
9131000
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-5133000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3998000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13542000
CY2024Q1 us-gaap Partners Capital Account Sale Of Units
PartnersCapitalAccountSaleOfUnits
381000
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
598000
CY2024Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
657000
CY2024Q1 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
20006000
CY2024Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
-30219000
CY2022Q4 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
52977000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-979000
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
137000
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-3055000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2918000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3897000
CY2023Q1 us-gaap Partners Capital Account Sale Of Units
PartnersCapitalAccountSaleOfUnits
322000
CY2023Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
601000
CY2023Q1 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
19974000
CY2023Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
28827000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results and outcomes could differ from those estimates and assumptions. On an ongoing basis, management reviews its estimates based on currently available information. Changes in facts and circumstances could result in revised estimates and assumptions.</span></p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration Risk</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For each of the three months ended March 31, 2024 and 2023, we purchased approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">80</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our motor fuel from </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">four</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> suppliers. Approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">24</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">23</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our motor fuel gallons sold for the three months ended March 31, 2024 and 2023, respectively, were delivered by </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> carriers.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the three months ended March 31, 2024 and 2023, respectively, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">11</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">20</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our rent income was from </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> multi-site operators.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the three months ended March 31, 2024 and 2023, respectively, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">50</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">47</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our merchandise was purchased from </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> supplier.</span></p>
CY2023Q1 capl Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
1
CY2023Q1 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
400000
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
100000
CY2024Q1 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
29808000
CY2023Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
26081000
CY2024Q1 us-gaap Energy Related Inventory Gas Stored Underground
EnergyRelatedInventoryGasStoredUnderground
28229000
CY2023Q4 us-gaap Energy Related Inventory Gas Stored Underground
EnergyRelatedInventoryGasStoredUnderground
26263000
CY2024Q1 us-gaap Inventory Net
InventoryNet
58037000
CY2023Q4 us-gaap Inventory Net
InventoryNet
52344000
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1066530000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1069155000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
373802000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
363938000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
692728000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
705217000
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
236819000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
146397000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
90422000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
236779000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
141518000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
95261000
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
10320000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
11064000
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
808580000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
767064000
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3133000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3083000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
805447000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
763981000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9692000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10101000
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
795755000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
753880000
CY2024Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
91200000
CY2023Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
1100000
CY2024Q1 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
6100000
CY2024Q1 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimateOfTimeToTransfer1
P12M
CY2024Q1 capl Lessor Operating Lease Term Of Expiration
LessorOperatingLeaseTermOfExpiration
through 2037
CY2024Q1 capl Partners Capital Distributions In Excess Of Net Income Loss
PartnersCapitalDistributionsInExcessOfNetIncomeLoss
-38138000
CY2023Q1 capl Partners Capital Distributions In Excess Of Net Income Loss
PartnersCapitalDistributionsInExcessOfNetIncomeLoss
-21554000
CY2024Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-18197000
CY2024Q1 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
3300000
CY2023Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
5000000
CY2024Q1 capl Accretion Of Preferred Membership Interests
AccretionOfPreferredMembershipInterests
700000
CY2023Q1 capl Accretion Of Preferred Membership Interests
AccretionOfPreferredMembershipInterests
600000
CY2024Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
6900000
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
7400000
CY2024Q1 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
4700000
CY2023Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
5300000
CY2024Q1 us-gaap Income Tax Holiday Description
IncomeTaxHolidayDescription
As a limited partnership, we are not subject to federal and state income taxes. However, our corporate subsidiaries are subject to income taxes. Income tax attributable to our taxable income (including any dividend income from our corporate subsidiaries), which may differ significantly from income for financial statement purposes, is assessed at the individual limited partner unitholder level. We are subject to a statutory requirement that non-qualifying income, as defined by the Internal Revenue Code, cannot exceed 10% of total gross income for the calendar year. If non-qualifying income exceeds this statutory limit, we would be taxed as a corporation. The non-qualifying income did not exceed the statutory limit in any annual period.
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5800000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1700000
CY2024Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
19941000
CY2023Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
19974000
CY2023Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-1580000
CY2024Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
37994285
CY2023Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
37940332
CY2024Q1 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0
CY2023Q1 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0
CY2024Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
37994285
CY2023Q1 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
37940332
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Outstanding Limited Partnership Unit Basic Net Of Tax
IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.48
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Outstanding Limited Partnership Unit Basic Net Of Tax
IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.04
CY2024Q1 us-gaap Income Loss From Continuing Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted
IncomeLossFromContinuingOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.48
CY2023Q1 us-gaap Income Loss From Continuing Operations Net Of Tax Per Outstanding Limited Partnership Unit Diluted
IncomeLossFromContinuingOperationsNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.04
CY2024Q1 us-gaap Distributions Per Limited Partnership Unit Outstanding
DistributionsPerLimitedPartnershipUnitOutstanding
0.525
CY2023Q1 us-gaap Distributions Per Limited Partnership Unit Outstanding
DistributionsPerLimitedPartnershipUnitOutstanding
0.525
CY2024Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.525
CY2023Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.525
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1230559
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1125769
CY2023Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2024-02-02
CY2023Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2024-02-09
CY2023Q4 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.525
CY2023Q4 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
19941000
CY2024Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2024-05-03
CY2024Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2024-05-10
CY2024Q1 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.525
CY2024Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
19964000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2024Q1 capl Number Of Dealerize Sites
NumberOfDealerizeSites
53
CY2023Q1 capl Number Of Dealerize Sites
NumberOfDealerizeSites
8
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
19166000
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
941548000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13045000
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
21320000
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1016159000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
9110000
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-17000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
560000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1269000
CY2024Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
36108000
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
31622000
CY2024Q1 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
9400000
CY2023Q4 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
10000000
CY2024Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
500000
CY2023Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
400000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3902000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2220000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-584000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
219000
CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1589000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-604000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-423000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2775000
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-885000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
574000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2434000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7503000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
3131000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
2013000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-987000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
297000
CY2024Q1 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
1619000
CY2023Q1 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
342000
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1785000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1061000
CY2024Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-6927000
CY2023Q1 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-9460000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
9925000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
11875000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2228000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4823000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2972000
CY2024Q1 capl Accretion Of Preferred Membership Interests
AccretionOfPreferredMembershipInterests
657000
CY2023Q1 capl Accretion Of Preferred Membership Interests
AccretionOfPreferredMembershipInterests
601000

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capl-20240331.htm Edgar Link pending
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