Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 139

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 139
---
2023

    37,983,154

    (2,392
    )

    5,399

    3,007

    Net income

    —

    22,453

    —

    22,453

    Other comprehensive income

       Unrealized gain on interest rate swap contracts

    —

    —

    12,560

    12,560

       Realized gain on interest rate swap contracts      reclassified from AOCI into interest expense

    —

    —

    (10,364
    )

    (10,364
    )

    Total other comprehensive income

    —

    —

    2,196

    2,196

    Comprehensive income

    —

    22,453

    2,196

    24,649

    Issuance of units related to 2023 Bonus Plan

    17,136

    381

    —

    381

    Vesting of equity awards, net of units withheld for tax

    59,412

    1,272

    —

    1,272

    Accretion of preferred membership interests

    —

    (2,561
    )

    —

    (2,561
    )

    Tax effect from intra-entity transfer of assets

    —

    (410
    )

    —

    (410
    )

    Distributions paid

    —

    (80,114
    )

    —

    (80,114
    )

    Balance at December 31, 2024

    38,059,702

    $
    (61,371
    )
     
    $
    7,595

    $
    (53,776
    )

The accompanying notes are an integral part of these consolidated financial statements.

59 

CROSSAMERICA PARTNERS LPNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Note 1. DESCRIPTION OF BUSINESSThe Topper Group controls the sole member of our General Partner and has the ability to appoint all of the members of the Board and to control and manage the operations and activities of the Partnership. As of February 21, 2025, the Topper Group has beneficial ownership of a 38.6% limited partner interest in the Partnership. Description of BusinessOur business consists of:•the wholesale distribution of motor fuels;•the owning or leasing of sites used in the retail distribution of motor