Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 51

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 51
---
 dealers
     
    Wholesale

    261

    325

    348

    434

    569

    619

    Company operated
     
    Retail

    389

    342

    328

    365

    296

    255

    Commission agents (b)
     
    Retail

    166

    165

    168

    229

    199

    200

    Total

    1,299

    1,350

    1,340

    1,635

    1,696

    1,737

(a)Gallons distributed to independent dealers include gallons distributed to sub-wholesalers and commercial accounts, which are not included in the site counts reported above.

(b)Includes independent commission sites owned or leased by the commission agent.

At our company operated sites, we also generate revenues from the retail sale of convenience merchandise. Such revenues amounted to (in millions):

    Year Ended December 31,

    2024

    2023

    2022

    Food and merchandise sales
     
    $
    390

    $
    316

    $
    280

We also generate revenues through leasing or subleasing our real estate. We own or lease real and personal property and we lease or sublease that property to tenants, the substantial majority of which are wholesale customers as described above. We own approximately 60% of our properties that we lease to our dealers or utilize in our retail business. Our lease agreements with third-party landlords have an average remaining lease term of 3.9 years as of December 31, 2024.

6

The following table presents rental income (in millions) and the number of sites from which rental income was generated:

    Rental IncomeYear Ended December 31,

    Sites from which RentalIncome was GeneratedEnd of Year

    Segment
     
    2024

    2023

    2022

    2024

    2023

    2022

    Lessee dealers
     
    Wholesale
     
    $
    57.8

    $
    69.7

    $
    71.3

    490

    628

    687

    Company operated
     
    Retail

    2.7

    2.4

    2.2

    47