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10-Q Filing

CROSSAMERICA PARTNERS LP CIK: 1538849 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001193125-14-190115
Period End Date 20140331
Filing Date 20140508
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance lgp-20140331.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $204.00K USD Point-in-time
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $136.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $8.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.35M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.12M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $204 and $136 at March 31, 2014 and December 31, 2013, respectively AccountsReceivableNetCurrent $7.34M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $204 and $136 at March 31, 2014 and December 31, 2013, respectively AccountsReceivableNetCurrent $8.66M USD Point-in-time
Accounts receivable from affiliates AccountsReceivableRelatedPartiesCurrent $18.13M USD Point-in-time
Accounts receivable from affiliates AccountsReceivableRelatedPartiesCurrent $16.56M USD Point-in-time
Motor fuel inventory InventoryNet $2.14M USD Point-in-time
Motor fuel inventory InventoryNet $2.62M USD Point-in-time
Environmental indemnification asset-current portion RecordedEnvironmentalRecoveriesAmountCurrent $486.00K USD Point-in-time
Environmental indemnification asset-current portion RecordedEnvironmentalRecoveriesAmountCurrent $477.00K USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $1.33M USD Point-in-time
Assets held for sale AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $2.63M USD Point-in-time
Other current assets OtherAssetsCurrent $3.54M USD Point-in-time
Other current assets OtherAssetsCurrent $3.86M USD Point-in-time
Total current assets AssetsCurrent $37.73M USD Point-in-time
Total current assets AssetsCurrent $35.50M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $284.75M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $288.73M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $45.27M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $47.01M USD Point-in-time
Environmental indemnification asset-noncurrent portion RecordedEnvironmentalRecoveriesAmountNoncurrent $761.00K USD Point-in-time
Environmental indemnification asset-noncurrent portion RecordedEnvironmentalRecoveriesAmountNoncurrent $1.04M USD Point-in-time
Deferred financing fees, net DeferredFinanceCostsNoncurrentNet $7.89M USD Point-in-time
Deferred financing fees, net DeferredFinanceCostsNoncurrentNet $5.74M USD Point-in-time
Goodwill Goodwill $9.32M USD Point-in-time
Goodwill Goodwill $9.32M USD Point-in-time
Other assets OtherAssetsNoncurrent $4.56M USD Point-in-time
Other assets OtherAssetsNoncurrent $10.82M USD Point-in-time
Total assets Assets $391.62M USD Point-in-time
Total assets Assets $396.83M USD Point-in-time
Lease financing obligations-current portion CapitalLeaseObligationsCurrent $2.57M USD Point-in-time
Lease financing obligations-current portion CapitalLeaseObligationsCurrent $2.68M USD Point-in-time
Accounts payable AccountsPayableCurrent $20.57M USD Point-in-time
Accounts payable AccountsPayableCurrent $22.31M USD Point-in-time
Motor fuel taxes payable TaxesPayableCurrent $8.21M USD Point-in-time
Motor fuel taxes payable TaxesPayableCurrent $7.19M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $9.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $37.00K USD Point-in-time
Environmental liabilities-current portion AccruedEnvironmentalLossContingenciesCurrent $636.00K USD Point-in-time
Environmental liabilities-current portion AccruedEnvironmentalLossContingenciesCurrent $477.00K USD Point-in-time
Environmental liabilities-current portion AccruedEnvironmentalLossContingenciesCurrent $486.00K USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $4.41M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesCurrent $8.05M USD Point-in-time
Total current liabilities LiabilitiesCurrent $38.13M USD Point-in-time
Total current liabilities LiabilitiesCurrent $38.86M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $186.05M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $173.51M USD Point-in-time
Lease financing obligations CapitalLeaseObligationsNoncurrent $63.43M USD Point-in-time
Lease financing obligations CapitalLeaseObligationsNoncurrent $64.36M USD Point-in-time
Environmental liabilities AccruedEnvironmentalLossContingenciesNoncurrent $1.04M USD Point-in-time
Environmental liabilities AccruedEnvironmentalLossContingenciesNoncurrent $541.00K USD Point-in-time
Environmental liabilities AccruedEnvironmentalLossContingenciesNoncurrent $761.00K USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $19.46M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $19.09M USD Point-in-time
Total liabilities Liabilities $296.95M USD Point-in-time
Total liabilities Liabilities $307.74M USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) 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 $94.67M USD Point-in-time
Total partners' capital PartnersCapital $89.09M USD Point-in-time
Total liabilities and partners' capital LiabilitiesAndStockholdersEquity $396.83M USD Point-in-time
Total liabilities and partners' capital LiabilitiesAndStockholdersEquity $391.62M USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Revenues from fuel sales FuelSalesRevenue $296.78M USD 1 Quarter
Revenues from fuel sales FuelSalesRevenue $218.30M USD 1 Quarter
Revenues from fuel sales to affiliates FuelSalesRevenueFromRelatedParties $174.41M USD 1 Quarter
Revenues from fuel sales to affiliates FuelSalesRevenueFromRelatedParties $242.87M USD 1 Quarter
Rent income OperatingLeasesIncomeStatementLeaseRevenue $3.35M USD 1 Quarter
Rent income OperatingLeasesIncomeStatementLeaseRevenue $5.51M USD 1 Quarter
Rent income from affiliates RentalIncomeFromRelatedParties $6.92M USD 1 Quarter
Rent income from affiliates RentalIncomeFromRelatedParties $5.19M USD 1 Quarter
Other revenue OtherSalesRevenueNet $423.00K USD 1 Quarter
Other revenue OtherSalesRevenueNet $137.00K USD 1 Quarter
Total revenues SalesRevenueNet $482.02M USD 1 Quarter
Total revenues SalesRevenueNet $471.86M USD 1 Quarter
Cost of revenues from fuel sales FuelCosts $214.28M USD 1 Quarter
Cost of revenues from fuel sales FuelCosts $291.78M USD 1 Quarter
Cost of revenues from fuel sales to affiliates FuelCostsFromRelatedParty $236.96M USD 1 Quarter
Cost of revenues from fuel sales to affiliates FuelCostsFromRelatedParty $169.76M USD 1 Quarter
Rent expense LeaseAndRentalExpense $3.88M USD 1 Quarter
Rent expense LeaseAndRentalExpense $3.81M USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $2.20M USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $820.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $5.94M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $4.84M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $3.58M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $4.53M USD 1 Quarter
Gains on sales of assets, net GainLossOnSaleOfPropertyPlantEquipment $1.48M USD 1 Quarter
Total costs and operating expenses CostsAndExpenses $476.54M USD 1 Quarter
Total costs and operating expenses CostsAndExpenses $464.36M USD 1 Quarter
Operating income OperatingIncomeLoss $5.49M USD 1 Quarter
Operating income OperatingIncomeLoss $7.50M USD 1 Quarter
Interest expense InterestExpense $4.03M USD 1 Quarter
Interest expense InterestExpense $3.38M USD 1 Quarter
Other income, net OtherNonoperatingIncome $104.00K USD 1 Quarter
Other income, net OtherNonoperatingIncome $81.00K USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.20M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.56M USD 1 Quarter
Income tax expense from continuing operations IncomeTaxExpenseBenefit $135.00K USD 1 Quarter
Income tax expense from continuing operations IncomeTaxExpenseBenefit $443.00K USD 1 Quarter
Net income and comprehensive income NetIncomeLoss $3.76M USD 1 Quarter
Net income and comprehensive income NetIncomeLoss $1.43M USD 1 Quarter
Incentive distribution right holders' interest in net income NetIncomeLossAllocatedToGeneralPartners $31.00K USD 1 Quarter
Limited partners' interest in net income NetIncomeLossAllocatedToLimitedPartners $1.40M USD 1 Quarter
Limited partners' interest in net income NetIncomeLossAllocatedToLimitedPartners $3.76M USD 1 Quarter
Net income per common and subordinated unit-basic EarningsPerShareBasic $0.07 USD 1 Quarter
Net income per common and subordinated unit-basic EarningsPerShareBasic $0.25 USD 1 Quarter
Net income per common and subordinated unit-diluted EarningsPerShareDiluted $0.07 USD 1 Quarter
Net income per common and subordinated unit-diluted EarningsPerShareDiluted $0.25 USD 1 Quarter
Common units-basic WeightedAverageLimitedPartnershipUnitsOutstanding 7.53M shares 1 Quarter
Common units-basic WeightedAverageLimitedPartnershipUnitsOutstanding 11.12M shares 1 Quarter
Common units-diluted WeightedAverageLimitedPartnershipUnitsOutstandingDiluted 11.16M shares 1 Quarter
Common units-diluted WeightedAverageLimitedPartnershipUnitsOutstandingDiluted 7.53M shares 1 Quarter
Subordinated units-basic and diluted WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted 7.53M shares 1 Quarter
Subordinated units-basic and diluted WeightedAverageLimitedPartnershipSubordinateUnitsOutstandingBasicAndDiluted 7.53M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $3.76M USD 1 Quarter
Net income NetIncomeLoss $1.43M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $5.94M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $4.84M USD 1 Quarter
Accretion of interest on asset retirement obligations AssetRetirementObligationAccretionExpense $10.00K USD 1 Quarter
Accretion of interest on asset retirement obligations AssetRetirementObligationAccretionExpense $30.00K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $614.00K USD 1 Quarter
Amortization of deferred financing fees AmortizationOfFinancingCosts $983.00K USD 1 Quarter
Amortization of (above) below market leases, net AmortizationOfAboveAndBelowMarketLeases $391.00K USD 1 Quarter
Amortization of (above) below market leases, net AmortizationOfAboveAndBelowMarketLeases $-8.00K USD 1 Quarter
Provision for losses on doubtful accounts ProvisionForDoubtfulAccounts $68.00K USD 1 Quarter
Provision for losses on doubtful accounts ProvisionForDoubtfulAccounts $60.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-6.00K USD 1 Quarter
Equity-based incentive compensation expense ShareBasedCompensation $907.00K USD 1 Quarter
Equity-based incentive compensation expense ShareBasedCompensation $140.00K USD 1 Quarter
Equity-based director compensation expense IssuanceOfStockAndWarrantsForServicesOrClaims $7.00K USD 1 Quarter
Equity-based director compensation expense IssuanceOfStockAndWarrantsForServicesOrClaims $21.00K USD 1 Quarter
Gains on sales of assets, net GainLossOnSaleOfPropertyPlantEquipment $1.48M USD 1 Quarter
Gain on settlement of capital lease obligations GainLossOnSettlementOfCapitalLeaseObligation $97.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.39M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.10M USD 1 Quarter
Accounts receivable from affiliates IncreaseDecreaseInAccountsReceivableRelatedParties $1.57M USD 1 Quarter
Accounts receivable from affiliates IncreaseDecreaseInAccountsReceivableRelatedParties $13.24M USD 1 Quarter
Motor fuel inventory IncreaseDecreaseInInventories $484.00K USD 1 Quarter
Environmental indemnification asset IncreaseDecreaseInEnvironmentalRecoveries $284.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $251.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $61.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $-161.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherNoncurrentAssets $3.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $2.23M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.74M USD 1 Quarter
Motor fuel taxes payable IncreaseDecreaseInAccruedTaxesPayable $1.02M USD 1 Quarter
Motor fuel taxes payable IncreaseDecreaseInAccruedTaxesPayable $58.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $28.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $96.00K USD 1 Quarter
Environmental liability IncreaseDecreaseInAccruedEnvironmentalLossContingencies $284.00K USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $1.23M USD 1 Quarter
Accrued expenses and other current liabilities IncreaseDecreaseInAccruedLiabilities $-2.01M USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-198.00K USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-1.13M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $275.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $779.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.75M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $243.00K USD 1 Quarter
Principal payments received on notes receivable ProceedsFromCollectionOfNotesReceivable $37.00K USD 1 Quarter
Principal payments received on notes receivable ProceedsFromCollectionOfNotesReceivable $16.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.71M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-227.00K USD 1 Quarter
Proceeds under the revolving credit facility ProceedsFromRepaymentsOfOtherLongTermDebt $12.56M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $12.00K USD 1 Quarter
Repayment of lease financing obligations RepaymentsOfLongTermCapitalLeaseObligations $623.00K USD 1 Quarter
Repayment of lease financing obligations RepaymentsOfLongTermCapitalLeaseObligations $371.00K USD 1 Quarter
Payment of deferred financing fees PaymentsOfFinancingCosts $3.13M USD 1 Quarter
Distributions paid to holders of incentive distribution rights PaymentsOfDividends $31.00K USD 1 Quarter
Distributions paid on common and subordinated units PaymentsOfDistributionsToAffiliates $9.59M USD 1 Quarter
Distributions paid on common and subordinated units PaymentsOfDistributionsToAffiliates $4.44M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-832.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-4.81M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-4.76M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-2.76M USD 1 Quarter
Beginning of period CashAndCashEquivalentsAtCarryingValue $8.00K USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $1.35M USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $4.77M USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $4.12M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $8.00K USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $1.35M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $4.77M USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $4.12M USD Point-in-time
Cash paid for interest InterestPaidNet $2.76M USD 1 Quarter
Cash paid for interest InterestPaidNet $3.18M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $357.00K USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $209.00K USD 1 Quarter
Issuance of common units upon vesting of incentive awards NonCashIssuanceOfCommonStock $2.62M USD 1 Quarter
Sale of property and equipment in Section 1031 like-kind exchange transaction NoncashInvestingAndFinancingItemsRelatedToSaleOfPropertyAndEquipment $-2.43M USD 1 Quarter
Removal of property and equipment and capital lease obligation for sites terminated from Getty lease PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease $-202.00K USD 1 Quarter
Lessor direct costs incurred and deferred rent income recorded related to new lease transaction between affiliate and unrelated third party IncreaseDecreaseInLeaseAcquisitionCosts $1.70M USD 1 Quarter
Stockholders Equity 9 line items
Line Item Tag Value Unit Period
Beginning Balance PartnersCapital $94.67M USD Point-in-time
Beginning Balance PartnersCapital $89.09M USD Point-in-time
Equity-based director compensation PartnersCapitalAccountUnitBasedCompensation $113.00K USD 1 Quarter
Vesting of incentive awards, net of units withheld for taxes VestingOfPhantomUnitsNetOfUnitsWithheldForIncomeTaxes $2.50M USD 1 Quarter
Net income and comprehensive income NetIncomeLoss $3.76M USD 1 Quarter
Net income and comprehensive income NetIncomeLoss $1.43M USD 1 Quarter
Distributions paid PartnersCapitalAccountDistributions $9.62M USD 1 Quarter
Ending Balance PartnersCapital $94.67M USD Point-in-time
Ending Balance PartnersCapital $89.09M USD Point-in-time

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

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