Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 240

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 240
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BITDA, Adjusted EBITDA, Distributable Cash Flow and Distribution Coverage Ratio may be defined differently by other companies in our industry, our definitions may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

The following table presents reconciliations of EBITDA, Adjusted EBITDA, and Distributable Cash Flow to net income, the most directly comparable U.S. GAAP financial measure, for each of the periods indicated (in thousands, except for the Distribution Coverage Ratio):

    Year Ended December 31,

    2024

    2023

    2022

    Net income
     
    $
    22,453

    $
    42,592

    $
    63,696

    Interest expense

    52,320

    43,743

    32,100

    Income tax expense (benefit)

    (3,433
    )

    2,525

    714

    Depreciation, amortization and accretion expense

    75,983

    77,158

    80,625

    EBITDA

    147,323

    166,018

    177,135

    Equity-based employee and director compensation expense

    1,508

    3,031

    2,294

    Gain on dispositions and lease terminations, net (a)

    (4,966
    )

    (4,737
    )

    (1,143
    )

    Acquisition-related costs (b)

    1,674

    1,460

    1,508

    Adjusted EBITDA

    145,539

    165,772

    179,794

    Cash interest expense

    (50,384
    )

    (40,456
    )

    (29,312
    )

    Sustaining capital expenditures (c)

    (8,287
    )

    (7,654
    )

    (7,164
    )

    Current income tax expense (d)

    (864
    )

    (953
    )

    (2,466
    )

    Distributable Cash Flow
     
    $
    86,004

    $
    116,709

    $
    140,852

    Distributions paid on common units
     
    $
    79,854