Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 296

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 296
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 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 outcomes.We did not have unrecognized tax benefits at December 31, 2024 or 2023. Our practice is to recognize interest and penalties related to income tax matters in income tax expense. We had no material interest and penalties for 2024, 2023 and 2022.We file income tax returns with the U.S. federal government as well as the many state jurisdictions in which we operate. The statute remains open for tax years 2021 through 2024; therefore, these years remain subject to examination by federal, state and local jurisdiction authorities.

82 

CROSSAMERICA PARTNERS LPNOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

Note 21. NET INCOME PER LIMITED PARTNER UNITThe following table provides a reconciliation