Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 151

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 151
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        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 $6.5 million. The proceeds for 2024 and 2023, respectively, include $1.2 million and $3.8 million of proceeds that were initially placed in a Section 1031 exchange escrow account and used to purchase replacement properties. As such, these proceeds and capital expenditures were excluded from the consolidated statements of cash flows. During 2022, we sold 27 properties for $12.9 million in proceeds, resulting in a net gain of $3.5 million.  See Note 7 for information regarding impairment charges primarily recorded upon classifying sites within assets held for sale. 

67 

CROSSAMERICA PARTNERS LPNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Note 5. RECEIVABLESChanges in the allowance for credit losses consisted of the following (in thousands): 

        Year Ended December 31,

        2024

        2023

        2022

        Balance at beginning of year
         
        $
        709

        $
        686

        $
        458

        Increase in allowance charged to expense

        157

        40

        232

        Accounts charged against the allowance, net of recoveries

        (109
        )

        (17
        )

        (4
        )

        Balance at end of year
         
        $
        757

        $
        709

        $
        686

       Notes receivable totaled $0.8 million and $1.0 million at December 31, 2024 and 2023, respectively, and are included in other current assets and other noncurrent assets on the consolidated balance sheets.

Note 6. IN