Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 273

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 273
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 for the purchase of inventory and recorded a non-cash write-off of deferred rent income of $1.5 million. We recorded these transactions as follows (in thousands): 

        Cash consideration

        Lease termination payments
         
        $
        16,983

        Inventory purchases

        8,534

        Total cash paid

        25,517

        Inventory

        8,534

        Equipment

        2,530

        Loss on lease termination

        14,453

        Non-cash write-off of deferred rent income

        1,515

        Total loss on lease termination
         
        $
        15,968

       Acquisition of Assets from CSSOn November 9, 2022, we closed on the acquisition of assets from CSS for a purchase price of $27.5 million plus working capital. The assets consisted of wholesale fuel supply contracts to 38 dealer owned locations, 35 sub-wholesaler accounts and two commission locations (1 fee based and 1 lease). We funded this acquisition through borrowings on the CAPL Credit Facility and cash on hand.

Note 4. ASSETS HELD FOR SALE We have classified ten and two sites as held for sale at December 31, 2024 and 2023, respectively, which are expected to be sold within one year of such classification. Assets held for sale were as follows (in thousands): 

        December 31,

        2024

        2023

        Land
         
        $
        4,483

        $
        240

        Buildings and site improvements

        3,866

        380

        Equipment

        3,752

        418

        Total

        12,101

        1,038

        Less accumulated depreciation

        (3,107
        )

        (638
        )

        Assets held for sale
         
        $
        8,994

        $
        400

       The Partnership has continued to focus on optimizing the class of trade for its assets, which has included divesting certain assets, often lower performing, while seeking to maintain a wholesale fuel supply relationship whenever possible. During 2024, we sold 30 sites for $36.3 million in proceeds, resulting in a net gain of $23.3 million. During 2023, we sold 10 properties for $9.2 million in proceeds, resulting in a net gain of $