Company: CAPL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028082
Chunk: 255

Company: CrossAmerica Partners LP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 255
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 reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ GRANT THORNTON LLP

Charlotte, North Carolina

February 26, 2025

55

CROSSAMERICA PARTNERS LP

CONSOLIDATED BALANCE SHEETS

(Thousands of Dollars, except unit data)

    December 31,

    2024

    2023

    ASSETS

    Current assets:

    Cash and cash equivalents
     
    $
    3,381

    $
    4,990

    Accounts receivable, net of allowances of $757 and $709, respectively

    31,603

    31,185

    Accounts receivable from related parties

    634

    437

    Inventory

    63,169

    52,344

    Assets held for sale

    8,994

    400

    Current portion of interest rate swap contracts

    2,958

    9,321

    Other current assets

    8,091

    9,845

    Total current assets

    118,830

    108,522

    Property and equipment, net

    656,300

    705,217

    Right-of-use assets, net

    136,430

    148,317

    Intangible assets, net

    77,242

    95,261

    Goodwill

    99,409