Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 173

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 173
---
 —

        —

        State income taxes, net of federal income tax benefit

        (638
        )

        421

        974

        Other

        (23
        )

        (63
        )

        (38
        )

        Total income tax expense (benefit)
         
        $
        (3,433
        )
         
        $
        2,525

        $
        714

      The tax effects of significant temporary differences representing deferred income tax assets and liabilities were as follows (in thousands):

        December 31,

        2024

        2023

        Deferred income tax assets:

        Operating and finance lease obligations
         
        $
        26,927

        $
        29,193

        Asset retirement obligations

        11,114

        11,045

        Intangible assets

        8,703

        7,887

        Net operating losses (a)

        3,860

        5,331

        Other assets and liabilities

        8,075

        7,394

        Total deferred income tax assets

        58,679

        60,850

        Deferred income tax liabilities:

        Deferred rent income

        717

        841

        Property and equipment

        40,010

        46,223

        Right-of-use assets

        24,375

        25,946

        Total deferred income tax liabilities

        65,102

        73,010

        Net deferred income tax liabilities
         
        $
        6,423

        $
        12,160

      (a)Includes a federal deferred tax asset of $2.4 million related to an $11.2 million federal net operating loss that has no expiration.We record an accrual for federal, state and local and uncertain tax positions. The development of these tax positions requires subjective, critical estimates and judgments about tax matters, potential outcomes and timing. Although the outcome of potential tax examinations is uncertain, in management’s opinion, adequate provisions for income taxes have been made for potential liabilities resulting from these reviews. If actual outcomes differ materially from these estimates, they could have a material impact on our financial condition and results of operations. Differences between actual results and assumptions, or changes in assumptions in future periods, are recorded in the period they become known. To the extent additional information becomes available prior to resolution, such accruals are adjusted to reflect probable