Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 114

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 114
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atement of the CAPL Credit Facility and termination of the JKM Credit Facility. 

Income tax expense

We recorded income tax (benefit) expense of ($3.4) million and $2.5 million for 2024 and 2023, respectively, driven by (losses incurred) income generated by our taxable subsidiaries.

Accretion of preferred membership interests

As further discussed in Note 18 to the financial statements, we recorded accretion on the preferred membership interests totaling $2.6 million and $2.5 million for 2024 and 2023, respectively.

Segment Results

We present the results of operations of our segments consistent with how our management views the business.

43

Retail

The following table highlights the results of operations and certain operating metrics of our retail segment. The narrative following these tables provides an analysis of the results of operations of that segment (in thousands, except for the number of retail sites and per gallon amounts):

    Year Ended December 31,

    2024

    2023

    2022

    Gross profit:

    Motor fuel
     
    $
    150,916

    $
    138,729

    $
    146,546

    Merchandise

    109,910

    89,847

    76,135

    Rent

    9,411

    9,120

    9,797

    Other revenue

    19,467

    15,771

    12,554

    Total gross profit

    289,704

    253,467

    245,032

    Operating expenses

    (196,232
    )

    (156,758
    )

    (137,636
    )

    Operating income
     
    $
    93,472

    $
    96,709

    $
    107,396

    Retail sites (end of period):

    Company operated retail sites (a)

    365

    296

    255

    Commission agents (b)

    229

    199

    200

    Total retail segment sites

    594

    495

    455

    Total retail segment statistics:

    Volume of gallons sold

    554,490

    506,535

    496,634

    Average retail fuel sites

    569

    476

    452

    Margin per