10-Q Filing

CROSSAMERICA PARTNERS LP CIK: 1538849 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-062330`
Period End Date	20130630
Filing Date	20130809
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	lgp-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 54 Cash Flow Statement 37 Stockholders Equity 8

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$72.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$463.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $72 and $0 at June 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$6.04M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $72 and $0 at June 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$5.74M	USD	Point-in-time
Accounts receivable from affiliates	`AccountsReceivableRelatedPartiesCurrent`	$8.11M	USD	Point-in-time
Accounts receivable from affiliates	`AccountsReceivableRelatedPartiesCurrent`	$18.75M	USD	Point-in-time
Environmental indemnification asset - current portion	`RecordedEnvironmentalRecoveriesAmountCurrent`	$591.00K	USD	Point-in-time
Environmental indemnification asset - current portion	`RecordedEnvironmentalRecoveriesAmountCurrent`	$615.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.61M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.15M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$243.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$240.04M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$33.03M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$35.60M	USD	Point-in-time
Environmental indemnification asset	`RecordedEnvironmentalRecoveriesAmountNoncurrent`	$586.00K	USD	Point-in-time
Environmental indemnification asset	`RecordedEnvironmentalRecoveriesAmountNoncurrent`	$647.00K	USD	Point-in-time
Deferred financing fees, net and other assets	`DeferredFinanceCostsNoncurrentAndOtherAssets`	$10.69M	USD	Point-in-time
Deferred financing fees, net and other assets	`DeferredFinanceCostsNoncurrentAndOtherAssets`	$10.03M	USD	Point-in-time
Goodwill	`Goodwill`	$5.64M	USD	Point-in-time
Goodwill	`Goodwill`	$5.64M	USD	Point-in-time
Total assets	`Assets`	$317.85M	USD	Point-in-time
Total assets	`Assets`	$317.79M	USD	Point-in-time
Lease financing obligations - current portion	`CapitalLeaseObligationsCurrent`	$2.19M	USD	Point-in-time
Lease financing obligations - current portion	`CapitalLeaseObligationsCurrent`	$2.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.82M	USD	Point-in-time
Motor fuel taxes payable	`TaxesPayableCurrent`	$9.46M	USD	Point-in-time
Motor fuel taxes payable	`TaxesPayableCurrent`	$6.93M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$523.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$342.00K	USD	Point-in-time
Environmental liability - current portion	`AccruedEnvironmentalLossContingenciesCurrent`	$591.00K	USD	Point-in-time
Environmental liability - current portion	`AccruedEnvironmentalLossContingenciesCurrent`	$615.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.30M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$4.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.15M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$183.75M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$185.86M	USD	Point-in-time
Lease financing obligations	`CapitalLeaseObligationsNoncurrent`	$73.79M	USD	Point-in-time
Lease financing obligations	`CapitalLeaseObligationsNoncurrent`	$67.41M	USD	Point-in-time
Environmental liability	`AccruedEnvironmentalLossContingenciesNoncurrent`	$586.00K	USD	Point-in-time
Environmental liability	`AccruedEnvironmentalLossContingenciesNoncurrent`	$647.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$12.98M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$303.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$305.25M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$12.54M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$14.54M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$317.79M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$317.85M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Revenues from fuel sales	`FuelSalesRevenue`	$447.02M	USD	2 Qtrs
Revenues from fuel sales	`FuelSalesRevenue`	$228.72M	USD	1 Quarter
Revenues from fuel sales to affiliates	`FuelSalesRevenueFromRelatedParties`	$491.57M	USD	2 Qtrs
Revenues from fuel sales to affiliates	`FuelSalesRevenueFromRelatedParties`	$248.70M	USD	1 Quarter
Rent income	`OperatingLeasesIncomeStatementLeaseRevenue`	$3.83M	USD	1 Quarter
Rent income	`OperatingLeasesIncomeStatementLeaseRevenue`	$7.18M	USD	2 Qtrs
Rent income from affiliates	`RentalIncomeFromRelatedParties`	$6.43M	USD	1 Quarter
Rent income from affiliates	`RentalIncomeFromRelatedParties`	$13.35M	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$487.69M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$959.13M	USD	2 Qtrs
Cost of revenues from fuel sales	`FuelCosts`	$437.94M	USD	2 Qtrs
Cost of revenues from fuel sales	`FuelCosts`	$223.66M	USD	1 Quarter
Cost of revenues from fuel sales to affiliates	`FuelCostsFromRelatedParty`	$478.74M	USD	2 Qtrs
Cost of revenues from fuel sales to affiliates	`FuelCostsFromRelatedParty`	$241.77M	USD	1 Quarter
Rent expense	`OperatingLeasesRentExpenseNet`	$3.90M	USD	1 Quarter
Rent expense	`OperatingLeasesRentExpenseNet`	$7.78M	USD	2 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$1.10M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$1.91M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.70M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.40M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.82M	USD	1 Quarter
Gains on sales of assets, net	`GainLossOnSaleOfPropertyPlantEquipment`	$47.00K	USD	2 Qtrs
Gains on sales of assets, net	`GainLossOnSaleOfPropertyPlantEquipment`	$47.00K	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$479.07M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$943.43M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$15.70M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$8.61M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.91M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$3.52M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$593.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$1.10M	USD	2 Qtrs
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperations`	$5.69M	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperations`	$9.89M	USD	2 Qtrs
Income tax expense from continuing operations	`IncomeTaxExpenseBenefit`	$663.00K	USD	2 Qtrs
Income tax expense from continuing operations	`IncomeTaxExpenseBenefit`	$220.00K	USD	1 Quarter
Income (loss) from continuing operations after income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.47M	USD	1 Quarter
Income (loss) from continuing operations after income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.23M	USD	2 Qtrs
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$9.23M	USD	2 Qtrs
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$5.47M	USD	1 Quarter
Limited partners' interest in net income from continuing operations after income taxes	`NetIncomeLossAllocatedToLimitedPartners`	$5.47M	USD	1 Quarter
Limited partners' interest in net income from continuing operations after income taxes	`NetIncomeLossAllocatedToLimitedPartners`	$9.23M	USD	2 Qtrs
Net income allocated to common units	`NetIncomeLossAllocatedToCommonUnits`	$4.61M	USD	2 Qtrs
Net income allocated to common units	`NetIncomeLossAllocatedToCommonUnits`	$2.73M	USD	1 Quarter
Net income allocated to subordinated units	`NetIncomeLossAllocatedToSubordinatedUnits`	$2.73M	USD	1 Quarter
Net income allocated to subordinated units	`NetIncomeLossAllocatedToSubordinatedUnits`	$4.61M	USD	2 Qtrs
Net income per common unit - basic and diluted (in dollars per unit)	`EarningsPerShareBasicAndDiluted`	$0.36	USD	1 Quarter
Net income per common unit - basic and diluted (in dollars per unit)	`EarningsPerShareBasicAndDiluted`	$0.61	USD	2 Qtrs
Net income per subordinated unit - basic and diluted (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$0.61	USD	2 Qtrs
Net income per subordinated unit - basic and diluted (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$0.36	USD	1 Quarter
Common units - basic and diluted	`WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted`	7.53M	shares	2 Qtrs
Common units - basic and diluted	`WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted`	7.53M	shares	1 Quarter
Subordinated units - basic and diluted	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted`	7.53M	shares	2 Qtrs
Subordinated units - basic and diluted	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted`	7.53M	shares	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$9.23M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.70M	USD	2 Qtrs
Accretion of interest	`AccretionExpense`	$23.00K	USD	2 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$1.36M	USD	2 Qtrs
Amortization of (above) below market leases, net	`AmortizationOfAboveAndBelowMarketLeases`	$-7.00K	USD	2 Qtrs
Gains on sales of assets, net	`GainsLossesOnSalesOfAssets`	$47.00K	USD	2 Qtrs
Provision for losses on doubtful accounts	`ProvisionForDoubtfulAccounts`	$72.00K	USD	2 Qtrs
Equity-based incentive compensation expense	`ShareBasedCompensation`	$978.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$370.00K	USD	2 Qtrs
Accounts receivable from affiliates	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$10.64M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-276.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-50.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.54M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$607.00K	USD	2 Qtrs
Motor fuel taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-2.53M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$181.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.32M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.12M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.21M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.13M	USD	2 Qtrs
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$32.00K	USD	2 Qtrs
Net cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.89M	USD	2 Qtrs
Borrowings under swing-line line-of-credit	`ProceedsFromLongTermLinesOfCredit`	$40.81M	USD	2 Qtrs
Repayments of borrowings under swing-line line-of-credit	`RepaymentsOfLongTermLinesOfCredit`	$40.81M	USD	2 Qtrs
Proceeds from borrowings under revolving credit facility	`ProceedsFromBorrowingsUnderRevolvingCreditFacility`	$1.15M	USD	2 Qtrs
Repayment of lease financing obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.04M	USD	2 Qtrs
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	$408.00K	USD	2 Qtrs
Distributions paid on common and subordinated units	`PaymentsOfDistributionsToAffiliates`	$11.25M	USD	2 Qtrs
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.54M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.30M	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$463.00K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$463.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$5.55M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$491.00K	USD	2 Qtrs

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`PartnersCapital`	$12.54M	USD	Point-in-time
Balance	`PartnersCapital`	$14.54M	USD	Point-in-time
Equity-based director compensation	`PartnersCapitalAccountUnitBasedCompensation`	$21.00K	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$9.23M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$5.47M	USD	1 Quarter
Distributions paid	`PartnersCapitalAccountDistributions`	$11.25M	USD	2 Qtrs
Balance	`PartnersCapital`	$12.54M	USD	Point-in-time
Balance	`PartnersCapital`	$14.54M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.