10-Q Filing

CROSSAMERICA PARTNERS LP CIK: 1538849 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-438157`
Period End Date	20130930
Filing Date	20131112
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	lgp-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 57 Cash Flow Statement 53 Stockholders Equity 10

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$90.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$182.00K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $90 and $0 at September 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$5.74M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $90 and $0 at September 30, 2013 and December 31, 2012, respectively	`AccountsReceivableNetCurrent`	$6.29M	USD	Point-in-time
Accounts receivable from affiliates	`AccountsReceivableRelatedPartiesCurrent`	$12.66M	USD	Point-in-time
Accounts receivable from affiliates	`AccountsReceivableRelatedPartiesCurrent`	$8.11M	USD	Point-in-time
Motor fuel inventory	`InventoryNet`	$1.83M	USD	Point-in-time
Environmental indemnification asset - current portion	`RecordedEnvironmentalRecoveriesAmountCurrent`	$591.00K	USD	Point-in-time
Environmental indemnification asset - current portion	`RecordedEnvironmentalRecoveriesAmountCurrent`	$419.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$1.61M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.24M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.62M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$292.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$243.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$35.68M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$35.60M	USD	Point-in-time
Environmental indemnification asset	`RecordedEnvironmentalRecoveriesAmountNoncurrent`	$970.00K	USD	Point-in-time
Environmental indemnification asset	`RecordedEnvironmentalRecoveriesAmountNoncurrent`	$586.00K	USD	Point-in-time
Deferred financing fees, net and other assets	`DeferredFinanceCostsNoncurrentAndOtherAssets`	$9.96M	USD	Point-in-time
Deferred financing fees, net and other assets	`DeferredFinanceCostsNoncurrentAndOtherAssets`	$10.03M	USD	Point-in-time
Goodwill	`Goodwill`	$8.41M	USD	Point-in-time
Goodwill	`Goodwill`	$5.64M	USD	Point-in-time
Total assets	`Assets`	$317.85M	USD	Point-in-time
Total assets	`Assets`	$370.70M	USD	Point-in-time
Lease financing obligations - current portion	`CapitalLeaseObligationsCurrent`	$2.58M	USD	Point-in-time
Lease financing obligations - current portion	`CapitalLeaseObligationsCurrent`	$2.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.28M	USD	Point-in-time
Motor fuel taxes payable	`TaxesPayableCurrent`	$9.46M	USD	Point-in-time
Motor fuel taxes payable	`TaxesPayableCurrent`	$6.97M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$342.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$716.00K	USD	Point-in-time
Environmental liability - current portion	`AccruedEnvironmentalLossContingenciesCurrent`	$424.00K	USD	Point-in-time
Environmental liability - current portion	`AccruedEnvironmentalLossContingenciesCurrent`	$591.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$4.87M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.75M	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`	$243.24M	USD	Point-in-time
Lease financing obligations	`CapitalLeaseObligationsNoncurrent`	$73.79M	USD	Point-in-time
Lease financing obligations	`CapitalLeaseObligationsNoncurrent`	$64.97M	USD	Point-in-time
Environmental liability	`AccruedEnvironmentalLossContingenciesNoncurrent`	$586.00K	USD	Point-in-time
Environmental liability	`AccruedEnvironmentalLossContingenciesNoncurrent`	$970.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.02M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$17.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$303.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$363.93M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
General Partner's Interest	`GeneralPartnersCapitalAccount`	-	USD	Point-in-time
General Partner's Interest	`GeneralPartnersCapitalAccount`	-	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$14.54M	USD	Point-in-time
Total partners' capital	`PartnersCapital`	$6.77M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$317.85M	USD	Point-in-time
Total liabilities and partners' capital	`LiabilitiesAndStockholdersEquity`	$370.70M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Revenues from fuel sales	`FuelSalesRevenue`	$251.63M	USD	1 Quarter
Revenues from fuel sales	`FuelSalesRevenue`	$698.65M	USD	3 Qtrs
Revenues from fuel sales to affiliates	`FuelSalesRevenueFromRelatedParties`	$228.35M	USD	1 Quarter
Revenues from fuel sales to affiliates	`FuelSalesRevenueFromRelatedParties`	$719.92M	USD	3 Qtrs
Rent income	`OperatingLeasesIncomeStatementLeaseRevenue`	$11.35M	USD	3 Qtrs
Rent income	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.17M	USD	1 Quarter
Rent income from affiliates	`RentalIncomeFromRelatedParties`	$5.94M	USD	1 Quarter
Rent income from affiliates	`RentalIncomeFromRelatedParties`	$19.29M	USD	3 Qtrs
Revenues from retail merchandise and other	`OtherSalesRevenueNet`	$34.00K	USD	3 Qtrs
Revenues from retail merchandise and other	`OtherSalesRevenueNet`	$34.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$490.11M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.45B	USD	3 Qtrs
Cost of revenues from fuel sales	`FuelCosts`	$246.28M	USD	1 Quarter
Cost of revenues from fuel sales	`FuelCosts`	$684.22M	USD	3 Qtrs
Cost of revenues from fuel sales to affiliates	`FuelCostsFromRelatedParty`	$700.76M	USD	3 Qtrs
Cost of revenues from fuel sales to affiliates	`FuelCostsFromRelatedParty`	$222.02M	USD	1 Quarter
Cost of revenues from retail merchandise and other	`OtherCostOfOperatingRevenue`	$34.00K	USD	1 Quarter
Cost of revenues from retail merchandise and other	`OtherCostOfOperatingRevenue`	$34.00K	USD	3 Qtrs
Rent expense	`LeaseAndRentalExpense`	$3.68M	USD	1 Quarter
Rent expense	`LeaseAndRentalExpense`	$11.46M	USD	3 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$3.22M	USD	3 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$1.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$14.91M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.00M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	1 Quarter
Gains on sales of assets, net	`GainLossOnSaleOfPropertyPlantEquipment`	$47.00K	USD	3 Qtrs
Total costs and operating expenses	`CostsAndExpenses`	$483.12M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$1.43B	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$7.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$22.67M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$10.23M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$3.35M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$1.65M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$555.00K	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.20M	USD	1 Quarter
Income (loss) from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.09M	USD	3 Qtrs
Income tax expense (benefit) from continuing operations	`IncomeTaxExpenseBenefit`	$-60.00K	USD	3 Qtrs
Income tax expense (benefit) from continuing operations	`IncomeTaxExpenseBenefit`	$-723.00K	USD	1 Quarter
Income (loss) from continuing operations after income taxes	`IncomeLossFromContinuingOperations`	$4.92M	USD	1 Quarter
Income (loss) from continuing operations after income taxes	`IncomeLossFromContinuingOperations`	$14.15M	USD	3 Qtrs
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$4.92M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$14.15M	USD	3 Qtrs
Limited partners' interest in net income from continuing operations after income taxes	`NetIncomeLossAllocatedToLimitedPartners`	$4.92M	USD	1 Quarter
Limited partners' interest in net income from continuing operations after income taxes	`NetIncomeLossAllocatedToLimitedPartners`	$14.15M	USD	3 Qtrs
Net income allocated to common units	`NetIncomeLossAllocatedToCommonUnits`	$2.46M	USD	1 Quarter
Net income allocated to common units	`NetIncomeLossAllocatedToCommonUnits`	$7.08M	USD	3 Qtrs
Net income allocated to subordinated units	`NetIncomeLossAllocatedToSubordinatedUnits`	$2.46M	USD	1 Quarter
Net income allocated to subordinated units	`NetIncomeLossAllocatedToSubordinatedUnits`	$7.08M	USD	3 Qtrs
Net income per common unit - basic and diluted (in dollars per unit)	`EarningsPerShareBasicAndDiluted`	$0.33	USD	1 Quarter
Net income per common unit - basic and diluted (in dollars per unit)	`EarningsPerShareBasicAndDiluted`	$0.94	USD	3 Qtrs
Net income per subordinated unit - basic and diluted (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$0.94	USD	3 Qtrs
Net income per subordinated unit - basic and diluted (in dollars per unit)	`NetIncomeLossPerOutstandingLimitedPartnershipSubordinatedUnitBasicAndDiluted`	$0.33	USD	1 Quarter
Common units - basic and diluted	`WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted`	7.53M	shares	1 Quarter
Common units - basic and diluted	`WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted`	7.53M	shares	3 Qtrs
Subordinated units - basic and diluted	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted`	7.53M	shares	1 Quarter
Subordinated units - basic and diluted	`WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted`	7.53M	shares	3 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$4.92M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$14.15M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.91M	USD	3 Qtrs
Accretion of interest on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$39.00K	USD	3 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$2.01M	USD	3 Qtrs
Amortization of (above) below market leases, net	`AmortizationOfAboveAndBelowMarketLeases`	$105.00K	USD	3 Qtrs
Gains on sales of assets, net	`GainsLossesOnSalesOfAssets`	$47.00K	USD	3 Qtrs
Provision for losses on doubtful accounts	`ProvisionForDoubtfulAccounts`	$90.00K	USD	3 Qtrs
Equity-based incentive compensation expense	`ShareBasedCompensation`	$2.22M	USD	3 Qtrs
Equity-based director compensation expense	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$21.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.10M	USD	3 Qtrs
Settlement of capital lease obligations (Note 9)	`SettlementOfCapitalLeaseObligation`	$272.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$642.00K	USD	3 Qtrs
Accounts receivable from affiliates	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$4.65M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.83M	USD	3 Qtrs
Environmental indemnification asset	`IncreaseDecreaseInEnvironmentalRecoveries`	$212.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$140.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-161.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.91M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$843.00K	USD	3 Qtrs
Motor fuel taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-2.48M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$374.00K	USD	3 Qtrs
Environmental liability	`IncreaseDecreaseInAccruedEnvironmentalLossContingencies`	$217.00K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.43M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.26M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.21M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.25M	USD	3 Qtrs
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$48.00K	USD	3 Qtrs
Receipt of portion of purchase price from settlement of escrow in connection with acquisition	`ReceiptOfPortionOfAcquisitionPurchasePriceFromSettlementOfEscrow`	$131.00K	USD	3 Qtrs
Cash paid in connection with acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$30.55M	USD	3 Qtrs
Net cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.41M	USD	3 Qtrs
Proceeds from borrowings under revolving credit facility	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$30.83M	USD	3 Qtrs
Proceeds from borrowings under swing-line line of credit, net	`ProceedsFromLongTermLinesOfCredit`	$1.47M	USD	3 Qtrs
Repayment of lease financing obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.65M	USD	3 Qtrs
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	$408.00K	USD	3 Qtrs
Payment to affiliate for commission sites (Note 1)	`LeaseTerminationPaymentMadeToRelatedParty`	$3.51M	USD	3 Qtrs
Payment to affiliate for commission sites (Note 1)	`LeaseTerminationPaymentMadeToRelatedParty`	$3.50M	USD	Point-in-time
Distributions paid on common and subordinated units	`PaymentsOfDistributionsToAffiliates`	$18.43M	USD	3 Qtrs
Advances (to) from affiliates	`AdvancesToFromAffiliatesFinancingActivities`	$1.72M	USD	3 Qtrs
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.57M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.59M	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$182.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.77M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$182.00K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$8.29M	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$663.00K	USD	3 Qtrs
Lessor indirect costs incurred and deferred rent income recorded related to new lease transaction between affiliate and unrelated third-party	`IncreaseDecreaseInLeaseAcquisitionCosts`	$1.70M	USD	3 Qtrs
Issuance of note payable in connection with purchase of sites	`NotesIssued1`	$1.00M	USD	3 Qtrs
Removal of property and equipment and capital lease obligation for sites terminated from Getty lease	`PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease`	$-1.78M	USD	3 Qtrs
Reassessment of asset retirement obligations	`IncreaseDecreaseInAssetRetirementObligations`	$319.00K	USD	3 Qtrs
Issuance of note payable in connection with Rocky Top acquisition	`IncreaseDecreaseInNonCashIssuanceOfLongTermDebt`	$26.25M	USD	3 Qtrs
Adjustments to preliminary purchase accounting	`IncreaseDecreaseInPreliminaryPurchaseAccounting`	$6.04M	USD	3 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`PartnersCapital`	$14.54M	USD	Point-in-time
Balance	`PartnersCapital`	$6.77M	USD	Point-in-time
Equity-based director compensation	`PartnersCapitalAccountUnitBasedCompensation`	$21.00K	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$4.92M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$14.15M	USD	3 Qtrs
Payment to affiliate for commission sites (Note 1)	`LeaseTerminationPaymentMadeToRelatedParty`	$3.51M	USD	3 Qtrs
Payment to affiliate for commission sites (Note 1)	`LeaseTerminationPaymentMadeToRelatedParty`	$3.50M	USD	Point-in-time
Distributions paid	`PartnersCapitalAccountDistributions`	$18.43M	USD	3 Qtrs
Balance	`PartnersCapital`	$14.54M	USD	Point-in-time
Balance	`PartnersCapital`	$6.77M	USD	Point-in-time

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