10-Q Filing

CROSSAMERICA PARTNERS LP CIK: 1538849 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-016169`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	capl-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 47 Cash Flow Statement 54 Stockholders Equity 16

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Account receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$607.00K	USD	Point-in-time
Account receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$642.00K	USD	Point-in-time
Shares issued	`LimitedPartnersCapitalAccountUnitsIssued`	34.44M	shares	Point-in-time
Shares issued	`LimitedPartnersCapitalAccountUnitsIssued`	34.44M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.30M	USD	Point-in-time
Shares outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	34.44M	shares	Point-in-time
Shares outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	34.44M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.90M	USD	Point-in-time
Accounts receivable, net of allowances of $642 and $607, respectively	`AccountsReceivableNetCurrent`	$19.19M	USD	Point-in-time
Accounts receivable, net of allowances of $642 and $607, respectively	`AccountsReceivableNetCurrent`	$16.16M	USD	Point-in-time
Accounts receivable from related parties	`AccountsReceivableRelatedPartiesCurrent`	$9.70M	USD	Point-in-time
Accounts receivable from related parties	`AccountsReceivableRelatedPartiesCurrent`	$12.73M	USD	Point-in-time
Inventories	`InventoryNet`	$15.07M	USD	Point-in-time
Inventories	`InventoryNet`	$14.08M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.22M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.64M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.51M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$647.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$602.38M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$128.91M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$59.06M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$55.06M	USD	Point-in-time
Goodwill	`Goodwill`	$88.76M	USD	Point-in-time
Goodwill	`Goodwill`	$88.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$20.82M	USD	Point-in-time
Total assets	`Assets`	$956.66M	USD	Point-in-time
Total assets	`Assets`	$866.92M	USD	Point-in-time
Current portion of debt and finance lease obligations	`LongTermDebtAndFinanceLeaseObligationsCurrent`	$2.30M	USD	Point-in-time
Current portion of debt and finance lease obligations	`LongTermDebtAndFinanceLeaseObligationsCurrent`	$2.34M	USD	Point-in-time
Current portion of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$23.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$32.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.47M	USD	Point-in-time
Accounts payable to related parties	`DueToRelatedPartiesCurrent`	$25.05M	USD	Point-in-time
Accounts payable to related parties	`DueToRelatedPartiesCurrent`	$26.59M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$17.87M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$16.15M	USD	Point-in-time
Motor fuel taxes payable	`SalesAndExciseTaxPayableCurrent`	$10.72M	USD	Point-in-time
Motor fuel taxes payable	`SalesAndExciseTaxPayableCurrent`	$10.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$115.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.45M	USD	Point-in-time
Debt and finance lease obligations, less current portion	`LongTermDebtAndFinanceLeaseObligations`	$519.28M	USD	Point-in-time
Debt and finance lease obligations, less current portion	`LongTermDebtAndFinanceLeaseObligations`	$536.86M	USD	Point-in-time
Operating lease obligations, less current portion	`OperatingLeaseLiabilityNoncurrent`	$107.70M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$19.93M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$24.44M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$32.75M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$33.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$95.59M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$755.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$834.85M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common units(34,444,113 units issued and outstanding at March 31, 2019 and December 31, 2018)	`LimitedPartnersCapitalAccount`	$121.81M	USD	Point-in-time
Common units(34,444,113 units issued and outstanding at March 31, 2019 and December 31, 2018)	`LimitedPartnersCapitalAccount`	$110.93M	USD	Point-in-time
Total Partners Capital	`PartnersCapital`	$110.93M	USD	Point-in-time
Total Partners Capital	`PartnersCapital`	$121.81M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$866.92M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$956.66M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Operating revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$471.79M	USD	1 Quarter
Operating revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$554.57M	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	$514.62M	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	$434.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$37.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$39.95M	USD	1 Quarter
Income from CST Fuel Supply equity interests	`IncomeLossFromEquityMethodInvestments`	$3.81M	USD	1 Quarter
Income from CST Fuel Supply equity interests	`IncomeLossFromEquityMethodInvestments`	$3.43M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$16.34M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$15.35M	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.72M	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.42M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$15.50M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$13.06M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.56M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$32.83M	USD	1 Quarter
(Loss) gain on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$230.00K	USD	1 Quarter
(Loss) gain on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$-59.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.61M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.42M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$86.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$94.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.34M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.05M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$361.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-534.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$149.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$273.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-807.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$212.00K	USD	1 Quarter
Less: net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.00K	USD	1 Quarter
Net income (loss) attributable to limited partners	`NetIncomeLoss`	$-805.00K	USD	1 Quarter
Net income (loss) attributable to limited partners	`NetIncomeLoss`	$212.00K	USD	1 Quarter
IDR distributions	`IncentiveDistributionDistributionPerYear`	$1.18M	USD	1 Quarter
IDR distributions	`IncentiveDistributionDistributionPerYear`	$133.00K	USD	1 Quarter
Net income (loss) available to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$-1.99M	USD	1 Quarter
Net income (loss) available to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$79.00K	USD	1 Quarter
Basic and diluted income (loss) per limited partner unit	`NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic and diluted income (loss) per limited partner unit	`NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted`	-	USD	1 Quarter
Basic common units	`WeightedAverageLimitedPartnershipUnitsOutstanding`	34.44M	shares	1 Quarter
Basic common units	`WeightedAverageLimitedPartnershipUnitsOutstanding`	34.16M	shares	1 Quarter
Diluted common units	`WeightedAverageNumberOfLimitedPartnershipUnitsIncludingAntidilutiveSecurities`	34.46M	shares	1 Quarter
Diluted common units	`WeightedAverageNumberOfLimitedPartnershipUnitsIncludingAntidilutiveSecurities`	34.17M	shares	1 Quarter
(a) Includes excise taxes of:	`ExciseAndSalesTaxes`	$24.36M	USD	1 Quarter
(a) Includes excise taxes of:	`ExciseAndSalesTaxes`	$20.44M	USD	1 Quarter
(a) Includes revenues from fuel sales to and rental income from related parties of:	`RevenueFromRelatedParties`	$73.63M	USD	1 Quarter
(a) Includes revenues from fuel sales to and rental income from related parties of:	`RevenueFromRelatedParties`	$103.52M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-807.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$212.00K	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$15.50M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$13.06M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$428.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$290.00K	USD	1 Quarter
Amortization of above market leases, net	`AmortizationOfAboveAndBelowMarketLeases`	$-1.00K	USD	1 Quarter
Provision for losses on doubtful accounts	`ProvisionForDoubtfulAccounts`	$125.00K	USD	1 Quarter
Provision for losses on doubtful accounts	`ProvisionForDoubtfulAccounts`	$49.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-666.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-650.00K	USD	1 Quarter
Equity-based employee and director compensation expense	`ShareBasedCompensation`	$43.00K	USD	1 Quarter
Equity-based employee and director compensation expense	`ShareBasedCompensation`	$202.00K	USD	1 Quarter
Amended Omnibus Agreement fees settled in common units	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.30M	USD	1 Quarter
Loss (gain) on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$230.00K	USD	1 Quarter
Loss (gain) on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$-59.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$2.21M	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-432.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.14M	USD	1 Quarter
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$71.00K	USD	1 Quarter
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$85.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.08M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.99M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$31.83M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$40.40M	USD	1 Quarter
Repayments on the revolving credit facility	`RepaymentsOfLinesOfCredit`	$13.33M	USD	1 Quarter
Repayments on the revolving credit facility	`RepaymentsOfLinesOfCredit`	$35.40M	USD	1 Quarter
Payments of long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$498.00K	USD	1 Quarter
Payments of long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$552.00K	USD	1 Quarter
Payments of sale leaseback obligations	`RepaymentsOfOtherLongTermDebt`	$239.00K	USD	1 Quarter
Payment of deferred financing costs	`PaymentsOfFinancingCosts`	$613.00K	USD	1 Quarter
Distributions paid on distribution equivalent rights	`PaymentsOfCapitalDistribution`	$16.00K	USD	1 Quarter
Distributions paid on distribution equivalent rights	`PaymentsOfCapitalDistribution`	$10.00K	USD	1 Quarter
Distributions paid to holders of the IDRs	`PaymentsOfDividends`	$133.00K	USD	1 Quarter
Distributions paid to holders of the IDRs	`PaymentsOfDividends`	$1.18M	USD	1 Quarter
Distributions paid to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$18.00K	USD	1 Quarter
Distributions paid on common units	`PaymentsOfDividendsCommonStock`	$21.41M	USD	1 Quarter
Distributions paid on common units	`PaymentsOfDividendsCommonStock`	$18.08M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-897.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.35M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.22M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.11M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.90M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$150.82M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$121.81M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$171.02M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$110.93M	USD	Point-in-time
Transition adjustment upon adoption of ASC 842, net of tax	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	$28.90M	USD	1 Quarter
Issuance of units to Circle K for the payment of fees under the Amended Omnibus Agreement	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$3.22M	USD	1 Quarter
Issuance of units to Circle K for the payment of fees under the Amended Omnibus Agreement, Units	`ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued`	155,236.00	shares	1 Quarter
Issuance of units to Circle K for the payment of fees under the Amended Omnibus Agreement, Units	`ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued`	136,882.00	shares	1 Quarter
Net (loss) income and comprehensive (loss) income	`ProfitLoss`	$-807.00K	USD	1 Quarter
Net (loss) income and comprehensive (loss) income	`ProfitLoss`	$212.00K	USD	1 Quarter
Distributions paid	`PartnersCapitalAccountDistributions`	$18.23M	USD	1 Quarter
Distributions paid	`PartnersCapitalAccountDistributions`	$22.61M	USD	1 Quarter
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$150.82M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$121.81M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$171.02M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$110.93M	USD	Point-in-time

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