10-Q Filing

CROSSAMERICA PARTNERS LP CIK: 1538849 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-026161`
Period End Date	20210331
Filing Date	20210511
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	capl-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 45 Cash Flow Statement 49 Stockholders Equity 22

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Account receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$344.00K	USD	Point-in-time
Account receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$429.00K	USD	Point-in-time
Shares issued	`LimitedPartnersCapitalAccountUnitsIssued`	37.87M	shares	Point-in-time
Shares issued	`LimitedPartnersCapitalAccountUnitsIssued`	37.87M	shares	Point-in-time
Shares outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	37.87M	shares	Point-in-time
Shares outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	37.87M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$513.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$954.00K	USD	Point-in-time
Accounts receivable, net of allowances of $344 and $429, respectively	`AccountsReceivableNetCurrent`	$28.52M	USD	Point-in-time
Accounts receivable, net of allowances of $344 and $429, respectively	`AccountsReceivableNetCurrent`	$31.00M	USD	Point-in-time
Accounts receivable from related parties	`AccountsReceivableRelatedPartiesCurrent`	$931.00K	USD	Point-in-time
Accounts receivable from related parties	`AccountsReceivableRelatedPartiesCurrent`	$935.00K	USD	Point-in-time
Inventory	`InventoryNet`	$23.25M	USD	Point-in-time
Inventory	`InventoryNet`	$24.36M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$10.55M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$9.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.07M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$570.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$561.76M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$167.86M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$170.12M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$88.34M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$92.91M	USD	Point-in-time
Goodwill	`Goodwill`	$88.76M	USD	Point-in-time
Goodwill	`Goodwill`	$88.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$20.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.13M	USD	Point-in-time
Total assets	`Assets`	$1.01B	USD	Point-in-time
Total assets	`Assets`	$1.01B	USD	Point-in-time
Current portion of debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.63M	USD	Point-in-time
Current portion of debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.68M	USD	Point-in-time
Current portion of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$32.98M	USD	Point-in-time
Current portion of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$31.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$67.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.98M	USD	Point-in-time
Accounts payable to related parties	`DueToRelatedPartiesCurrent`	$5.38M	USD	Point-in-time
Accounts payable to related parties	`DueToRelatedPartiesCurrent`	$5.86M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$23.27M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$22.03M	USD	Point-in-time
Motor fuel and sales taxes payable	`SalesAndExciseTaxPayableCurrent`	$19.73M	USD	Point-in-time
Motor fuel and sales taxes payable	`SalesAndExciseTaxPayableCurrent`	$20.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$146.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.33M	USD	Point-in-time
Debt and finance lease obligations, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$527.30M	USD	Point-in-time
Debt and finance lease obligations, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$539.84M	USD	Point-in-time
Operating lease obligations, less current portion	`OperatingLeaseLiabilityNoncurrent`	$141.38M	USD	Point-in-time
Operating lease obligations, less current portion	`OperatingLeaseLiabilityNoncurrent`	$143.02M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$15.02M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$15.19M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$41.59M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$41.45M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$31.57M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$922.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$904.67M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common units37,874,868 and 37,868,046 units issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`LimitedPartnersCapitalAccount`	$87.61M	USD	Point-in-time
Common units37,874,868 and 37,868,046 units issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`LimitedPartnersCapitalAccount`	$112.12M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-208.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.46M	USD	Point-in-time
Total equity	`PartnersCapital`	$87.41M	USD	Point-in-time
Total equity	`PartnersCapital`	$109.67M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Operating revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$657.28M	USD	1 Quarter
Operating revenues	`RevenueFromContractWithCustomerIncludingAssessedTax`	$391.69M	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	$602.42M	USD	1 Quarter
Costs of sales	`CostOfGoodsAndServicesSold`	$355.97M	USD	1 Quarter
Gross profit	`GrossProfit`	$35.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$54.87M	USD	1 Quarter
Income from CST Fuel Supply equity interests	`IncomeLossFromEquityMethodInvestments`	$3.20M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$29.40M	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$10.72M	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.65M	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.48M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$17.23M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$18.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$55.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$32.43M	USD	1 Quarter
(Loss) gain on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$70.93M	USD	1 Quarter
(Loss) gain on dispositions and lease terminations, net	`GainLossOnDispositionOfAssetsAndLeaseTerminations`	$-648.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-864.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$77.43M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$137.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$88.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.54M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.50M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.27M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$72.03M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-306.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-32.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-3.97M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$72.06M	USD	1 Quarter
IDR distributions	`IncentiveDistributionDistributionPerYear`	$133.00K	USD	1 Quarter
Net (loss) income available to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$71.93M	USD	1 Quarter
Net (loss) income available to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$-3.97M	USD	1 Quarter
Basic and diluted earnings per common unit	`NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted earnings per common unit	`NetIncomeLossPerOutstandingLimitedPartnershipAndGeneralPartnershipUnitBasicAndDiluted`	$2.00	USD	1 Quarter
Basic common units	`WeightedAverageLimitedPartnershipUnitsOutstanding`	37.87M	shares	1 Quarter
Basic common units	`WeightedAverageLimitedPartnershipUnitsOutstanding`	35.99M	shares	1 Quarter
Diluted common units	`WeightedAverageNumberOfLimitedPartnershipUnitsIncludingAntidilutiveSecurities`	36.00M	shares	1 Quarter
Diluted common units	`WeightedAverageNumberOfLimitedPartnershipUnitsIncludingAntidilutiveSecurities`	37.89M	shares	1 Quarter
(a) includes excise taxes of:	`ExciseAndSalesTaxes`	$43.70M	USD	1 Quarter
(a) includes excise taxes of:	`ExciseAndSalesTaxes`	$14.94M	USD	1 Quarter
(a) includes rent income of:	`OperatingLeasesIncomeStatementLeaseRevenue`	$20.47M	USD	1 Quarter
(a) includes rent income of:	`OperatingLeasesIncomeStatementLeaseRevenue`	$22.69M	USD	1 Quarter
(b) includes rent expense of:	`OperatingLeaseExpense`	$6.92M	USD	1 Quarter
(b) includes rent expense of:	`OperatingLeaseExpense`	$5.91M	USD	1 Quarter
(c) includes rent expense of:	`OperatingLeaseExpenseRent`	$3.20M	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-3.97M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$72.06M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$17.23M	USD	1 Quarter
Depreciation, amortization and accretion expense	`DepreciationDepletionAndAmortization`	$18.03M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$260.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$261.00K	USD	1 Quarter
Credit loss expense	`ProvisionForDoubtfulAccounts`	$31.00K	USD	1 Quarter
Credit loss expense	`ProvisionForDoubtfulAccounts`	$91.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-590.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-136.00K	USD	1 Quarter
Equity-based employee and director compensation expense	`ShareBasedCompensation`	$31.00K	USD	1 Quarter
Equity-based employee and director compensation expense	`ShareBasedCompensation`	$368.00K	USD	1 Quarter
Loss (gain) on dispositions and lease terminations, net	`GainLossOnDispositionsAndLeaseTerminationsNet`	$70.93M	USD	1 Quarter
Loss (gain) on dispositions and lease terminations, net	`GainLossOnDispositionsAndLeaseTerminationsNet`	$-648.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$810.00K	USD	1 Quarter
Changes in operating assets and liabilities, net of acquisitions	`IncreaseDecreaseInOperatingCapital`	$-2.89M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.79M	USD	1 Quarter
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$87.00K	USD	1 Quarter
Principal payments received on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$47.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$931.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.03M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.38M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.62M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.64M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.67M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$34.50M	USD	1 Quarter
Borrowings under the revolving credit facility	`ProceedsFromLinesOfCredit`	$19.00M	USD	1 Quarter
Repayments on the revolving credit facility	`RepaymentsOfLinesOfCredit`	$21.54M	USD	1 Quarter
Repayments on the revolving credit facility	`RepaymentsOfLinesOfCredit`	$26.50M	USD	1 Quarter
Payments of long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$633.00K	USD	1 Quarter
Payments of long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$595.00K	USD	1 Quarter
Distributions paid on distribution equivalent rights	`PaymentsOfCapitalDistribution`	$31.00K	USD	1 Quarter
Distributions paid on distribution equivalent rights	`PaymentsOfCapitalDistribution`	$1.00K	USD	1 Quarter
Distributions paid to holders of the IDRs	`DistributionPaidToIncentiveDistributionRightsHolders`	$133.00K	USD	1 Quarter
Distributions paid on common units	`PaymentsOfDividendsCommonStock`	$19.88M	USD	1 Quarter
Distributions paid on common units	`PaymentsOfDividendsCommonStock`	$18.11M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.34M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.58M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$441.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.13M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$513.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$954.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$513.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$954.00K	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$78.40M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$131.42M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$87.41M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$109.67M	USD	Point-in-time
Net income (loss) and comprehensive income (loss)	`ProfitLoss`	$-3.97M	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`ProfitLoss`	$72.06M	USD	1 Quarter
Unrealized gain (loss) on interest rate swap contracts	`UnrealizedGainLossOnDerivatives`	$-786.00K	USD	1 Quarter
Unrealized gain (loss) on interest rate swap contracts	`UnrealizedGainLossOnDerivatives`	$2.02M	USD	1 Quarter
Realized gain (loss) on interest rate swap contract reclassified from AOCI into interest expense	`InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet`	$231.00K	USD	1 Quarter
Realized gain (loss) on interest rate swap contract reclassified from AOCI into interest expense	`InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet`	$-11.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-797.00K	USD	1 Quarter
Total other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$2.25M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.72M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$71.26M	USD	1 Quarter
Issuance of units related to 2020 Bonus Plan	`PartnersCapitalAccountSaleOfUnits`	$126.00K	USD	1 Quarter
Tax effect from intra-entity transfer of assets	`TaxEffectFromIntraEntityTransferOfAssets`	$757.00K	USD	1 Quarter
Distributions paid	`PartnersCapitalAccountDistributions`	$19.91M	USD	1 Quarter
Distributions paid	`PartnersCapitalAccountDistributions`	$18.24M	USD	1 Quarter
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$78.40M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$131.42M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$87.41M	USD	Point-in-time
Balance	`PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest`	$109.67M	USD	Point-in-time

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