Arko (ARKO) 10-Q 7 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Transition Report	false
Entity File Number	001-39828
Entity Registrant Name	ARKO Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2784337
Entity Address, Address Line One	8565 Magellan Parkway
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Richmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23227-1150
City Area Code	804
Local Phone Number	730-1568
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		120,074,542
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001823794
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	ARKO
Security Exchange Name	NASDAQ
ARKO warrants [Member}
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	ARKOW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 283,375	$ 252,141
Restricted cash	14,194	20,402
Short-term investments	2,122	58,807
Trade receivables, net	121,736	62,342
Inventory	224,545	197,836
Other current assets	98,842	92,095
Total current assets	744,814	683,623
Non-current assets:
Property and equipment, net	591,024	548,969
Right-of-use assets under operating leases	1,127,100	1,064,982
Right-of-use assets under financing leases, net	185,518	192,378
Goodwill	197,711	197,648
Intangible assets, net	192,651	185,993
Equity investment	2,991	2,998
Deferred tax asset	17,773	41,047
Other non-current assets	29,683	24,637
Total assets	3,089,265	2,942,275
Current liabilities:
Long-term debt, current portion	11,477	40,384
Accounts payable	211,125	172,918
Other current liabilities	148,199	137,488
Operating leases, current portion	55,952	51,261
Financing leases, current portion	5,741	6,383
Total current liabilities	432,494	408,434
Non-current liabilities:
Long-term debt, net	722,097	676,625
Asset retirement obligation	63,759	58,021
Operating leases	1,141,450	1,076,905
Financing leases	227,182	229,215
Deferred tax liability	0	2,546
Other non-current liabilities	132,276	136,853
Total liabilities	2,719,258	2,588,599
Commitments and contingencies - see Note 13
Series A redeemable preferred stock (no par value) - authorized: 1,000 shares; issued and outstanding: 1,000 and 1,000 shares, respectively; redemption value: $100,000 and $100,000, in the aggregate respectively	100,000	100,000
Shareholders' equity:
Common stock (par value $0.0001) - authorized: 400,000 shares; issued and outstanding: 124,727 and 124,428 shares, respectively; Outstanding 120,074 and 124,428 shares, respectively	12	12
Treasury stock, at cost - 4,653 and 0 shares, respectively	(40,042)	0
Additional paid-in capital	226,808	217,675
Accumulated other comprehensive income	9,119	9,119
Retained earnings	73,990	26,646
Total shareholders' equity	269,887	253,452
Non-controlling interest	120	224
Total equity	270,007	253,676
Total liabilities, redeemable preferred stock and equity	$ 3,089,265	$ 2,942,275

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	400,000,000	400,000,000
Common stock shares issued	124,727,000	124,428,000
Common stock shares outstanding	120,074,000	124,428,000
Treasury stock, shares	4,653,000	0
Series A Redeemable Temporary Equity [Member]
Temporary equity, par value	$ 0	$ 0
Temporary equity, shares authorized	1,000,000	1,000,000
Temporary equity, shares issued	1,000,000	1,000,000
Temporary equity, shares outstanding	1,000,000	1,000,000
Temporary equity, redemption value	$ 100,000	$ 100,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenues	$ 2,449,647	$ 2,035,023	$ 6,962,721	$ 5,429,193
Operating expenses:
Fuel costs	1,824,437	1,459,664	5,250,105	3,819,571
Merchandise costs	306,930	301,533	866,110	866,239
Store operating expenses	189,582	164,432	534,197	464,038
General and administrative expenses	35,954	32,696	100,695	91,270
Depreciation and amortization	26,061	22,031	75,050	71,546
Total operating expenses	2,382,964	1,980,356	6,826,157	5,312,664
Other expenses (income), net	951	(56)	3,269	2,811
Operating income	65,732	54,723	133,295	113,718
Interest and other financial income	2,676	2,937	2,509	4,613
Interest and other financial expenses	(22,472)	(17,365)	(45,619)	(59,655)
Income before income taxes	45,936	40,295	90,185	58,676
Income tax expense	(20,898)	(4,795)	(31,060)	(12,285)
(Loss) income from equity investment	(44)	85	(7)	105
Net income	24,994	35,585	59,118	46,496
Less: Net income attributable to non-controlling interests	51	51	182	179
Net income attributable to ARKO Corp.	24,943	35,534	58,936	46,317
Series A redeemable preferred stock dividends	(1,449)	(1,449)	(4,301)	(4,285)
Net income attributable to common shareholders	$ 23,494	$ 34,085	$ 54,635	$ 42,032
Net income per share attributable to common shareholders - basic	$ 0.20	$ 0.27	$ 0.45	$ 0.34
Net income per share attributable to common shareholders - diluted	$ 0.17	$ 0.25	$ 0.43	$ 0.31
Weighted average shares outstanding:
Basic	120,074	124,428	121,950	124,406
Diluted	130,388	133,925	123,527	125,354
Fuel Revenue [Member]
Revenues:
Total revenues	$ 1,979,574	$ 1,580,359	$ 5,648,954	$ 4,144,069
Merchandise Revenue [Member]
Revenues:
Total revenues	445,822	434,652	1,244,558	1,220,298
Other Revenue [Member]
Revenues:
Total revenues	$ 24,251	$ 20,012	$ 69,209	$ 64,826

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Total Shareholders' Equity [Member]	Non-controlling Interest [Member]
Balance at Dec. 31, 2020	$ 191,420	$ 12	$ 0	$ 212,103	$ 9,119	$ (29,653)	$ 191,581	$ (161)
Balance, shares at Dec. 31, 2020		124,132
Share-based compensation	4,127	$ 0	0	4,127	0	0	4,127	0
Transactions with non-controlling interests	0	0	0	(50)	0	0	(50)	50
Distributions to non-controlling interests	(180)	0	0	0	0	0	0	(180)
Dividends on redeemable preferred stock	(4,285)	0	0	(2,836)	0	(1,449)	(4,285)	0
Issuance of shares	3,000	$ 0	0	3,000	0	0	3,000	0
Issuance of shares, shares		296
Net income	46,496	$ 0	0	0	0	46,317	46,317	179
Balance at Sep. 30, 2021	240,578	$ 12	0	216,344	9,119	15,215	240,690	(112)
Balance, shares at Sep. 30, 2021		124,428
Balance at Jun. 30, 2021	204,889	$ 12	0	214,781	9,119	(18,870)	205,042	(153)
Balance, shares at Jun. 30, 2021		124,428
Share-based compensation	1,613	$ 0	0	1,613	0	0	1,613	0
Transactions with non-controlling interests	0	0	0	(50)	0	0	(50)	50
Distributions to non-controlling interests	(60)	0	0	0	0	0	0	(60)
Dividends on redeemable preferred stock	(1,449)	0	0	0	0	(1,449)	(1,449)	0
Net income	35,585	0	0	0	0	35,534	35,534	51
Balance at Sep. 30, 2021	240,578	$ 12	0	216,344	9,119	15,215	240,690	(112)
Balance, shares at Sep. 30, 2021		124,428
Balance at Dec. 31, 2021	253,676	$ 12	0	217,675	9,119	26,646	253,452	224
Balance, shares at Dec. 31, 2021		124,428
Share-based compensation	9,027	$ 0	0	9,027	0	0	9,027	0
Transactions with non-controlling interests				106			106	(106)
Distributions to non-controlling interests	(180)	0	0	0	0	0	0	(180)
Dividends on redeemable preferred stock	(4,301)	0	0	0	0	(4,301)	(4,301)	0
Dividends declared (2 cents per share)	(7,291)	0	0	0	0	(7,291)	(7,291)	0
Common stock repurchased	(40,042)	$ 0	(40,042)	0	0	0	(40,042)	0
Common stock repurchased, Shares		(4,653)
Vesting of restricted share units		286
Issuance of shares	0	$ 0	0	0	0	0	0	0
Issuance of shares, shares		13
Net income	59,118	$ 0	0	0	0	58,936	58,936	182
Balance at Sep. 30, 2022	270,007	$ 12	(40,042)	226,808	9,119	73,990	269,887	120
Balance, shares at Sep. 30, 2022		120,074
Balance at Jun. 30, 2022	245,783	$ 12	(40,038)	223,557	9,119	52,898	245,548	235
Balance, shares at Jun. 30, 2022		120,075
Share-based compensation	3,145	$ 0	0	3,145	0	0	3,145	0
Transactions with non-controlling interests				106			106	(106)
Distributions to non-controlling interests	(60)	0	0	0	0	0	0	(60)
Dividends on redeemable preferred stock	(1,449)	0	0	0	0	(1,449)	(1,449)	0
Dividends declared (2 cents per share)	(2,402)	0	0	0	0	(2,402)	(2,402)	0
Common stock repurchased	(4)	$ 0	(4)	0	0	0	(4)	0
Common stock repurchased, Shares		(1)
Net income	24,994	$ 0	0	0	0	24,943	24,943	51
Balance at Sep. 30, 2022	$ 270,007	$ 12	$ (40,042)	$ 226,808	$ 9,119	$ 73,990	$ 269,887	$ 120
Balance, shares at Sep. 30, 2022		120,074

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net lncome	$ 59,118	$ 46,496
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,050	71,546
Deferred income taxes	20,728	3,910
Loss on disposal of assets and impairment charges	3,389	1,898
Foreign currency loss (gain)	241	(1,176)
Amortization of deferred financing costs, debt discount and premium	1,894	1,423
Amortization of deferred income	(7,269)	(7,102)
Accretion of asset retirement obligation	1,259	1,266
Non-cash rent	5,714	4,773
Charges to allowance for credit losses	473	450
Loss (income) from equity investment	7	(105)
Share-based compensation	9,027	4,127
Fair value adjustment of financial assets and liabilities	(3,848)	9,237
Other operating activities, net	855	727
Changes in assets and liabilities:
Increase in trade receivables	(59,867)	(19,692)
Increase in inventory	(14,570)	(17,733)
Increase in other assets	(7,367)	(10,048)
Increase in accounts payable	37,493	25,161
Increase in other current liabilities	7,631	3,493
Increase (decrease) in asset retirement obligation	(94)	(128)
Increase in non-current liabilities	9,899	1,024
Net cash provided by operating activities	139,763	119,547
Cash flows from investing activities:
Purchase of property and equipment	(72,902)	(48,123)
Purchase of intangible assets	(176)	(222)
Proceeds from sale of property and equipment	140,380	36,685
Business acquisitions, net of cash	(191,203)	(93,527)
Decrease in investments, net	58,934	0
Repayment of loans to equity investment	174	0
Net cash used in investing activities	(64,793)	(105,187)
Cash flows from financing activities:
Receipt of long-term debt, net	51,450	41,366
Repayment of debt	(42,372)	(105,291)
Principal payments on financing leases	(5,014)	(6,050)
Proceeds from failed sale-leaseback	0	43,569
Payment of additional consideration	(2,085)	0
Payment of merger transaction issuance costs	0	(4,764)
Common stock repurchased	(40,042)	0
Dividends paid on common stock	(7,291)	0
Dividends paid on redeemable preferred stock	(4,301)	(4,442)
Distributions to non-controlling interests	(180)	(180)
Net cash used in financing activities	(49,835)	(35,792)
Net increase (decrease) in cash and cash equivalents and restricted cash	25,135	(21,432)
Effect of exchange rate on cash and cash equivalents and restricted cash	(109)	(1,440)
Cash and cash equivalents and restricted cash, beginning of period	272,543	312,977
Cash and cash equivalents and restricted cash, end of period	297,569	290,105
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents, beginning of period	252,141	293,666
Restricted cash, beginning of period	20,402	16,529
Restricted cash with respect to bonds, beginning of period	0	2,782
Cash and cash equivalents, end of period	283,375	275,185
Restricted cash, end of period	14,194	14,920
Supplementary cash flow information:
Cash received for interest	344	403
Cash paid for interest	36,109	42,549
Cash received for taxes	211	176
Cash paid for taxes	5,069	12,246
Supplementary noncash activities:
Prepaid insurance premiums financed through notes payable	5,523	4,900
Purchases of equipment in accounts payable and accrued expenses	7,615	4,345
Purchase of property and equipment under leases	15,041	26,333
Disposals of leases of property and equipment	18,605	4,121
Issuance of shares	$ 0	$ 3,000

General

General	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
General	1. General ARKO Corp. (the “Company”) is a Delaware corporation whose common stock, par value $ 0.0001 per share (“common stock”) and publicly-traded warrants are listed on the Nasdaq Stock Market (“Nasdaq”) under the symbols “ARKO” and “ARKOW,” respectively. The Company’s operations are primarily performed by its subsidiary, GPM Investments, LLC (“GPM”), a Delaware limited liability company. GPM is engaged directly and through fully owned and controlled subsidiaries (directly or indirectly) in retail activity, which includes the operations of a chain of convenience stores, most of which include adjacent gas stations, in wholesale activity, which includes the supply of fuel to gas stations operated by third parties, and following the closing of the Quarles Acquisition (as defined in Note 3) on July 22, 2022, in fleet fueling, which includes the operation of proprietary and third-party cardlock locations (unstaffed fueling locations) and issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites. As of September 30, 2022, GPM’s activity included the self-operation of 1,383 sites, the supply of fuel to 1,670 gas stations operated by independent dealers and the operation of 183 cardlock locations, throughout 33 states and the District of Columbia in the Mid-Atlantic, Midwestern, Northeastern, Southeastern and Southwestern United States (“U.S.”). The Company has four reportable segments: retail, wholesale, fleet fueling, and GPMP. Refer to Note 11 below for further information with respect to the segments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation All significant intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements, which are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Interim Financial Statements The accompanying condensed consolidated financial statements (“interim financial statements”) as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 are unaudited and have been prepared in accordance with GAAP for interim financial information and Regulation S-X set forth by the Securities and Exchange Commission (the “SEC”) for interim reporting. In the opinion of management, all adjustments (consisting of normal and recurring adjustments except those otherwise described herein) considered necessary for a fair presentation have been included in the accompanying interim financial statements. However, they do not include all of the information and disclosures required by GAAP for complete financial statements. Therefore, the interim financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes of the Company included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “annual financial statements”). The same significant accounting policies, presentation and methods of computation have been followed in these interim financial statements as were applied in the preparation of the annual financial statements. Accounting Periods The Company’s fiscal periods end on the last day of the month, and its fiscal year ends on December 31. This results in the Company experiencing fluctuations in current assets and current liabilities due to purchasing and payment patterns which change based upon the day of the week. As a result, working capital can change from period to period not only due to changing business operations, but also due to a change in the day of the week in which each period ends. The Company earns a disproportionate amount of its annual operating income in the second and third quarters as a result of the climate and seasonal buying patterns of its customers. Inclement weather, especially in the Midwest and Northeast regions of the U.S. during the winter months, can negatively impact financial results. Use of Estimates In the preparation of interim condensed consolidated financial statements, management may make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include right-of-use assets and lease liabilities; impairment of goodwill, intangible, right-of-use and fixed assets; environmental assets and liabilities; deferred tax assets; and asset retirement obligations. Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to the customers. This requires the Company to identify contractual performance obligations and determine whether revenue should be recognized at a single point in time or over time, based on when control of goods and services transfers to a customer. Control is transferred to the customer over time if the customer simultaneously receives and consumes the benefits provided by the Company’s performance. If a performance obligation is not satisfied over time, the Company satisfies the performance obligation at a single point in time. Revenue is recognized in an amount that reflects the consideration to which the Company expects to be entitled in exchange for goods or services. When the Company satisfies a performance obligation by transferring control of goods or services to the customer, revenue is recognized against contract assets in the amount of consideration to which the Company is entitled. When the consideration amount received from the customer exceeds the amounts recognized as revenue, the Company recognizes a contract liability for the excess. An asset is recognized related to the costs incurred to obtain a contract (i.e. sales commissions) if the costs are specifically identifiable to a contract, the costs will result in enhancing resources that will be used in satisfying performance obligations in the future and the costs are expected to be recovered. These capitalized costs are recorded as a part of other current assets and other non-current assets and are amortized on a systematic basis consistent with the pattern of transfer of the goods or services to which such costs relate. The Company expenses the costs to obtain a contract, as and when they are incurred, in cases where the expected amortization period is one year or less. The Company evaluates if it is a principal or an agent in a transaction to determine whether revenue should be recorded on a gross or a net basis. In performing this analysis, the Company considers first whether it controls the goods before they are transferred to the customers and if it has the ability to direct the use of the goods or obtain benefits from them. The Company also considers the following indicators: (1) the primary obligor, (2) the latitude in establishing prices and selecting suppliers, and (3) the inventory risk borne by the Company before and after the goods have been transferred to the customer. When the Company acts as principal, revenue is recorded on a gross basis. When the Company acts as agent, revenue is recorded on a net basis. Fuel revenue and fuel cost of revenue included fuel taxes of $ 274.8 million , $ 275.9 million , $ 750.3 million and $ 761.1 million for the three and nine months ended September 30, 2022 and 2021, respectively. Refer to Note 11 for disclosure of the revenue disaggregated by segment and product line, as well as a description of the reportable segment operations. Derivative Instruments and Hedging Activities The Company accounts for financial derivative instruments at fair value and applies hedge accounting rules when applicable. The Company utilizes ultra-low sulfur diesel-based derivative instruments to offset changes in the fair value of its firm commitment to purchase diesel fuel which is ultimately delivered to certain of its fleet fueling sites. These instruments are accounted for as fair value hedges of a firm commitment upon proper qualification. The Company assesses at inception and on an ongoing basis whether a derivative instrument accounted for as a hedge is highly effective in offsetting changes in the fair value of the hedged item (that is, the unrecognized firm commitment). The gain or loss on the hedging instrument is recognized currently in earnings within fuel costs in the condensed consolidated statement of operations, in the period that the changes in fair value occur. The gain or loss (that is, the change in fair value) on the hedged item attributable to the hedged risk designated as being hedged adjusts the carrying amount of the related hedged item and is simultaneously recognized in earnings within fuel costs in the condensed consolidated statement of operations, as an adjustment to the carrying amount of that hedged item (that is, the Company recognizes as assets or liabilities the changes in the fair value of the firm commitment that are attributable to the risk being hedged and that arise while the hedge of the firm commitment exists). When the underlying assets are purchased in accordance with the terms of the hedged firm commitment, the initial cost basis in the acquired assets is adjusted by the amount of the firm commitment that was recognized as an asset or liability under the fair value hedging model. See Note 6 and Note 10 for further information about the Company’s derivatives. Reclassifications Certain prior year equity amounts have been reclassified to conform to the current year presentation. New Accounting Pronouncements Reference Rate Reform – In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard included optional guidance for a limited period of time to help ease the burden in accounting for the effects of reference rate reform. The new standard is effective for all entities through December 31, 2022. The Company has not needed to implement this optional guidance.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Quarles Acquisition On July 22, 2022 , the Company consummated its acquisition of certain assets (the “Quarles Acquisition”) from Quarles Petroleum, Incorporated (“Quarles”), including: • 121 proprietary Quarles-branded cardlock sites and management of 63 third-party cardlock sites for fleet fueling operations; • 46 independent dealer locations, including certain lessee-dealer sites; and • a small transportation fleet. The total consideration for the Quarles Acquisition as set forth in the purchase agreement was approximately $ 170 million plus the value of inventory on the closing date. The Company financed $ 40 million of the purchase price with the Capital One Line of Credit (as defined in Note 12 to the annual financial statements) and Oak Street Real Estate Capital Net Lease Property Fund, LP (“Oak Street”), under the standby real estate purchase, designation and lease program agreement with Oak Street, dated as of May 31, 2021 (as amended, the “Program Agreement”), paid approximately $ 129.3 million of the consideration for fee simple ownership in 39 sites. At the closing, pursuant to the Program Agreement, the Company amended one of its master leases with Oak Street to add the sites Oak Street acquired in the transaction under customary lease terms. For accounting purposes, the transaction with Oak Street was treated as a sale-leaseback, and the Company recorded right-of-use assets and operating lease liabilities of approximately $ 81.8 million in connection therewith. The details of the Quarles Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 15,056 GPMP Capital One Line of Credit 40,000 Liability resulting from contingent consideration 661 Consideration provided by Oak Street 129,316 Total consideration $ 185,033 Assets acquired and liabilities: Inventory $ 12,300 Other assets 1,392 Property and equipment, net 154,889 Intangible assets 22,130 Right-of-use assets under operating leases 32,384 Environmental receivables 8 Total assets 223,103 Other liabilities ( 1,168 ) Environmental liabilities ( 316 ) Asset retirement obligations ( 4,743 ) Operating leases ( 31,843 ) Total liabilities ( 38,070 ) Total identifiable net assets 185,033 Goodwill $ - Consideration paid in cash $ 55,056 Consideration provided by Oak Street 129,316 Net cash outflow $ 184,372 The initial accounting treatment of the Quarles Acquisition reflected in these interim financial statements is provisional as the Company has not yet finalized the initial accounting treatment of the business combination, and in this regard, has not finalized the valuation of some of the assets and liabilities acquired and the goodwill resulting from the Quarles Acquisition, mainly due to the limited period of time between the Quarles Acquisition closing date and the date of these interim financial statements. Therefore, some of the financial information presented with respect to the Quarles Acquisition in these interim financial statements remains subject to change. The Company included identifiable tangible assets and identifiable liabilities at their fair value based on the information available to the Company’s management on the Quarles Acquisition closing date, including, among other things, an evaluation performed by external consultants for this purpose. On the closing date of the Quarles Acquisition, the useful life of the wholesale fuel supply contracts was 5.25 years, the useful life of the contracts related to the third-party cardlock sites was two years , and the useful life of the customer relationships related to proprietary fuel cards that give customers access to a nationwide network of fueling sites w as 20 years. The Company’s preliminary accounting treatment of this business combination resulted in no goodwill being recorded. Acquisition-related costs amounting to approximately $ 0.9 million and $ 1.6 million have been excluded from the consideration transferred and have been recognized as an expense within the other expenses, net line in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 , respectively. No acquisition-related costs were recognized for the three and nine months ended September 30, 2021. Results of operations for the Quarles Acquisition for the period subsequent to the acquisition closing date were reflected in the condensed consolidated statement of operations for the three and nine months ended September 30, 2022. For the period from the acquisition closing date through September 30, 2022, the Company recognized $ 142.4 million in revenues and $ 6.2 million in net income related to the Quarles Acquisition. Impact of Acquisitions (unaudited) The unaudited supplemental pro forma financial information was prepared based on the historical information of the Company and the acquired operations and gives pro forma effect to the acquisitions using the assumption that the Quarles Acquisition, the acquisition of 60 ExpressStop sites on May 18, 2021 and the acquisition of 36 Handy Mart sites on November 9, 2021 had occurred at the beginning of each period presented below. The unaudited supplemental pro forma financial information does not give effect to the potential impact of current financial conditions, any anticipated synergies, operating efficiencies or cost savings that may result from the acquisitions or any integration costs. The unaudited pro forma financial information is not necessarily indicative of what the actual results of operations would have been had the acquisitions occurred at the beginning of each period presented below nor is it indicative of future results. For the Nine Months 2022 2021 (unaudited) (in thousands) Total revenue $ 7,367,538 $ 6,023,592 Net income 67,558 52,591 Pending Acquisition – Transit Energy Group, LLC On September 9, 2022, the Company entered into a purchase agreement to acquire from Transit Energy Group, LLC (“TEG”) (i) approximately 150 self-operated convenience stores and gas stations, (ii) fuel supply rights to approximately 200 independent dealer locations, (iii) a commercial, government, and industrial business, including certain bulk plants, and (iv) certain distribution and transportation assets, all in the Southeastern United States (the “TEG Acquisition”). The purchase price for the TEG Acquisition is approximately $ 375 million plus the value of inventory at the closing, of which $ 50 million will be deferred and payable in two annual payments of $ 25 million, which the Company may elect to pay in either cash or, subject to the satisfaction of certain conditions, shares of common stock (the “Installment Shares”), on the first and second anniversaries of the closing. Pursuant to the purchase agreement, at closing, the parties have agreed to enter into a registration rights agreement, pursuant to which the Company will agree to prepare and file a registration statement with the SEC, registering the Installment Shares, if any, for resale by TEG. The Company intends to finance from its own sources approximately $ 60.0 million of the cash consideration payable at closing of the TEG Acquisition plus the value of inventory and other closing adjustments. Oak Street, under the Program Agreement, has agreed to pay the remaining consideration for the fee simple ownership in 106 sites, which the Company will lease from Oak Street. The closing of the TEG Acquisition is subject to fulfillment of conditions precedent. There can be no assurances that the TEG Acquisition will be consummated on the foregoing terms, if at all. Pending Acquisition – Pride Convenience Holdings, LLC On October 19, 2022, the Company entered into a purchase agreement with Pride Parent, LLC (“Seller”) to acquire all of the issued and outstanding membership interests in Pride Convenience Holdings, LLC (“Pride”), which operates 31 convenience stores and gas stations in Connecticut and Massachusetts (the “Pride Acquisition”). The total purchase price for Pride is approximately $ 230.0 million plus the value of inventory at the closing and subject to certain other closing adjustments. The Company intends to finance from its own sources approximately $ 28.0 million of the cash consideration plus the value of inventory and other closing adjustments with the balance of the consideration being paid directly to the Seller by Oak Street in accordance with the Program Agreement. Under this arrangement, Oak Street or its affiliates has agreed to pay the remaining consideration to acquire the entity holding certain real estate assets of Pride substantially concurrently with the closing of the Pride Acquisition. The Company expects to lease the real estate assets from Oak Street. The closing of the Pride Acquisition is subject to fulfillment of conditions precedent. There can be no assurances that the Pride Acquisition will be consummated on the foregoing terms, if at all.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	4. Debt The components of debt were as follows: September 30, December 31, (in thousands) Senior Notes $ 443,457 $ 442,889 PNC term loan — 32,385 M&T debt 50,866 43,392 Capital One line of credit 236,131 195,232 Insurance premium notes 3,120 3,111 Total debt, net $ 733,574 $ 717,009 Less current portion ( 11,477 ) ( 40,384 ) Total long-term debt, net $ 722,097 $ 676,625 In August 2022, the Company fully repaid GPM Petroleum LP’s outstanding obligations under the term loan with PNC Bank, which was secured by U.S. Treasuries equal to approximately 98 % of the outstanding principal amount of such term loan, with the proceeds from the sale of those securities and other cash on hand. Following such repayment, the Company terminated the term loan and security agreement governing such term loan.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	5. Leases As of September 30, 2022 , the Company leased 1,120 of the convenience stores that it operates, 169 independent dealer locations, 114 cardlock locations and certain office and storage spaces, including land and buildings in certain cases . Most of the lease agreements are for long-term periods, ranging from 15 to 20 years , and generally include several renewal options for extension periods for five to 25 years each. Additionally, the Company leases certain store equipment, office equipment, automatic tank gauges and fuel dispensers. The components of lease cost recorded on the condensed consolidated statements of operations were as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Finance lease cost: Depreciation of right-of-use assets $ 3,020 $ 3,390 $ 9,104 $ 10,117 Interest on lease liabilities 4,226 4,348 12,857 13,168 Operating lease costs included in store operating expenses 36,758 32,709 105,411 97,534 Operating lease costs included in general and administrative 473 425 1,211 1,279 Lease cost related to variable lease payments, short-term 602 674 1,815 1,507 Right-of-use asset impairment charges 911 507 911 1,030 Total lease costs $ 45,990 $ 42,053 $ 131,309 $ 124,635 Supplemental balance sheet date related to leases was as follows: September 30, December 31, (in thousands) Operating leases Weighted average remaining lease term (in years) 13.9 14.1 Weighted average discount rate 7.7 % 7.3 % Financing leases Weighted average remaining lease term (in years) 23.5 23.8 Weighted average discount rate 7.2 % 7.3 % As of September 30, 2022 , maturities of lease liabilities for operating lease obligations and finance lease obligations having an initial or remaining non-cancellable lease terms in excess of one year were presented in the table below. The minimum lease payments presented below include periods where an option is reasonably certain to be exercised and do not take into consideration any future consumer price index adjustments for these agreements. Operating Financing (in thousands) October 2022 through September 2023 $ 144,419 $ 22,363 October 2023 through September 2024 145,600 21,006 October 2024 through September 2025 146,545 21,018 October 2025 through September 2026 146,281 20,745 October 2026 through September 2027 144,038 20,707 Thereafter 1,281,148 430,132 Gross lease payments $ 2,008,031 $ 535,971 Less: imputed interest ( 810,629 ) ( 303,048 ) Total lease liabilities $ 1,197,402 $ 232,923

Financial Derivative Instrument

Financial Derivative Instruments	9 Months Ended
	Sep. 30, 2022
Financial Derivative Instruments [Abstract]
Financial Derivative Instruments	6. Financial Derivative Instruments Beginning in the third quarter of 2022, the Company makes limited use of derivative instruments (futures contracts) to manage certain risks related to diesel fuel prices. The Company does not hold any derivatives for speculative purposes and it does not use derivatives with leveraged or complex features. The Company currently uses derivative instruments that are traded primarily over national exchanges such as the New York Mercantile Exchange (“NYMEX”). For accounting purposes, the Company has designated its derivative contracts as fair value hedges of firm commitments. As of September 30, 2022, the Company had fuel futures contracts in place to hedge approximately 2.4 million gallons of diesel fuel for which the Company had a firm commitment to purchase. As of September 30, 2022, the Company had an asset derivative with a fair value of approximately $ 0.7 million recorded in other current assets and a firm commitment with a fair value of approximately $ 0.7 million recorded in other current liabilities on the condensed consolidated balance sheet. As of September 30, 2022 , there was no cash collateral provided to counterparties that was classified as restricted cash on the condensed consolidated balance sheet. All cash flows associated with purchasing and selling fuel derivative instruments are classified as other operating activities, net cash flows in the condensed consolidated statement of cash flows.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	7. Equity The Company’s board of directors (the “Board”) declared quarterly dividends of $ 0.02 per share of common stock paid on March 29, 2022 to stockholders of record as of March 15, 2022 , tota ling approximately $ 2.5 million, paid on June 15, 2022 to stockholders of record as of May 31, 2022 , totaling approximately $ 2.4 million, and paid on September 12, 2022 to stockholders of record as of August 29, 2022 , totaling approximately $ 2.4 million . The amount and timing of dividends payable on the common stock are within the sole discretion of the Board, which will evaluate dividend payments within the context of the Company’s overall capital allocation strategy on an ongoing basis, giving consideration to its current and forecast earnings, financial condition, cash requirements and other factors. As a result of the dividends paid on the common stock, the conversion price of the Company’ s Series A convertible preferred stock has been adjusted from $ 12.00 to $ 11.94 per share, as were the threshold share prices in the Deferred Shares agreement (as defined in Note 10). T he Board declared a quarterly dividend of $ 0.03 per share of common stock, to be paid on December 6, 2022 to stockholders of record as of November 22, 2022. In February 2022, the Board authorized a share repurchase program for up to an aggregate of $ 50 million of outstanding shares of common stock. The share repurchase program does not have a stated expiration date. In the three and nine months ended September 30, 2022 , the Company repurchased approximately 400 and 4.5 million shares of common stock under the repurchase program for approximately $ 3.3 thousand and $ 39.0 million, or an average share price of $ 7.98 and $ 8.60 , respectively.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	8. Share-Based Compensation The Compensation Committee of the Board has approved the grant of non-qualified stock options, restricted stock units (“RSUs”), and shares to certain employees, non-employees and members of the Board under the ARKO Corp. 2020 Incentive Compensation Plan (the “Plan”). Stock options granted under the Plan expire no later than ten years from the date of grant and the exercise price may not be less than the fair market value of the shares on the date of grant. Vesting periods are assigned to stock options and restricted share units on a grant-by-grant basis at the discretion of the Board. The Company issues new shares of common stock upon exercise of stock options and vesting of RSUs. Additionally, a non-employee director may receive RSUs in lieu of up to 100 % of his or her cash fees, which RSUs will be settled in common stock upon the director’s departure from the Board or an earlier change in control of the Company. In the nine months ended September 30, 2022 , 99,017 RSUs were issued to non-employee directors with a weighted average grant date fair value of $ 8.74 per share, or $ 0.9 million. These awards are included in the table below under restricted stock units. As of September 30, 2022 , 188,587 RSUs issued to non-employee directors were outstanding. The following table summarizes share activity related to stock options and restricted stock units: Stock Restricted (in thousands) Options Outstanding/Nonvested RSUs, December 31, 2021 126 1,606 Granted 771 1,913 Options Exercised/RSUs released — ( 385 ) Forfeited — ( 19 ) Options Outstanding/Nonvested RSUs, September 30, 2022 897 3,115 The following table summarizes the stock options granted in 2022: Weighted average fair value $ 2.70 Weighted average exercise price $ 9.11 Remaining average contractual term (years) 9.4 The fair value of each stock option award is estimated by management on the date of the grant using the Black-Scholes option pricing model. The following table summarizes the assumptions utilized in the valuation of the stock option awards granted in the nine months ended September 30, 2022: Expected dividend rate 0.9 % Expected stock price volatility 28.3 % Risk-free interest rate 1.7 % Expected term of options (years) 10.0 The expected stock price volatility is based on the historical volatility of the Company’s peer group’s stock price. The volatilities are estimated for a period of time equal to the expected term of the related option. The risk-free interest rate is based on the implied yield of U.S. Treasury zero-coupon issues with an equivalent remaining term. The expected term of the options represents the estimated period of time until exercise and is determined by considering the contractual terms, vesting schedule and expectations of future employee behavior. In the nine months ended September 30, 2022 , the Company granted 693,590 time-vested RSUs with a weighted average grant date fair value of $ 8.47 per share, or $ 5.9 million, and vesting over a weighted average period of 2.9 years. In the nine months ended September 30, 2022 , the Company granted a target of 1,120,354 performance-based RSUs with a weighted average grant date fair value of $ 8.35 per share, or $ 9.3 million. The 2022 performance-based RSUs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics primarily measured over a three-year period and cliff vest at the end of such period. The number of 2022 performance-based RSUs that will ultimately vest is contingent upon the achievement of these key financial metrics by the end of the performance period. The Company assesses the probability of achieving these metrics on a quarterly basis except for performance-based RSUs with market conditions. For these awards, the Company recognizes the fair value expense ratably over the performance and vesting period. These awards are included in the table above in RSUs Granted. During the nine months ended September 30, 2022 , the Company granted 13,332 shares of common stock to certain members of senior management, with a weighted average grant date fair value of $ 7.58 per share, or $ 0.1 million, with no vesting period. Total compensation cost recorded for employees, non-employees and members of the Board for the three and nine months ended September 30, 2022 and 2021 was $ 3.1 million, $ 1.6 million, $ 9.0 million and $ 4.1 million, respectively, and included in general and administrative expenses on the condensed consolidated statements of operations. As of September 30, 2022 and December 31, 2021 , total unrecognized compensation cost related to unvested shares, stock options and RSUs granted was approximately $ 20.6 million and $ 11.6 million, respectively.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings per Share The following table sets forth the computation of basic and diluted net income per share of common stock: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Net income available to common stockholders $ 23,494 $ 34,085 $ 54,635 $ 42,032 Dividends on redeemable preferred stock 1,449 1,449 — — Change in fair value of Ares Put Option (see Note 10) ( 2,425 ) ( 2,578 ) ( 1,894 ) ( 2,899 ) Net income available to common stockholders after assumed $ 22,518 $ 32,956 $ 52,741 $ 39,133 Weighted average common shares outstanding — Basic 120,074 124,428 121,950 124,406 Effect of dilutive securities: Restricted share units 1,182 234 618 170 Ares warrants — — — 6 Ares Put Option 757 930 959 772 Redeemable preferred stock 8,375 8,333 — — Weighted average common shares outstanding — Diluted 130,388 133,925 123,527 125,354 Net income per share available to common stockholders $ 0.20 $ 0.27 $ 0.45 $ 0.34 Net income per share available to common stockholders $ 0.17 $ 0.25 $ 0.43 $ 0.31 The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive: As of September 30, 2022 2021 (in thousands) Stock options 897 126 Ares warrants 1,100 1,100 Public and Private warrants 17,333 17,333 The effect of the potential shares of common stock issuable upon the conversion of the redeemable preferred stock was antidilutive for the nine months ended September 30, 2022 and 2021 , and such shares were excluded from the computation of diluted net income per share.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	10. Fair Value Measurements and Financial Instruments The fair value of cash and cash equivalents, restricted cash and investments, trade receivables, accounts payable and other current liabilities approximated their carrying values as of September 30, 2022 and December 31, 2021 primarily due to the short-term maturity of these instruments. On October 21, 2021, the Company completed a private offering of $ 450 million aggregate principal amount of 5.125 % Senior Notes due 2029 (the “Senior Notes”). Based on market trades of the Senior Notes close to September 30, 2022 and December 31, 2021 (Level 1 fair value measurement), the fair value of the Senior Notes was estimated at approximately $ 351 million and $ 436 million , respectively, compared to a gross carrying value of $ 450 million at September 30, 2022 and December 31, 2021. The fair value of the other long-term debt approximated their carrying values as of September 30, 2022 and December 31, 2021 due to the frequency with which interest rates are reset based on changes in prevailing interest rates. The fair value of fuel futures contracts was determined using NYMEX quoted values. The contingent consideration from the acquisition of the business of Empire Petroleum Partners, LLC is measured at fair value at the end of each reporting period and amounted to $ 3.8 million and $ 6.2 million as of September 30, 2022 and December 31, 2021, respectively. The fair value methodology for the contingent consideration liability is categorized as Level 3 because inputs to the valuation methodology are unobservable and significant to the fair value adjustment. Approximately $ 0.1 million , $ 0 , $( 0.3 ) million and $ 0.4 million were recorded as a component of interest and other financial expenses (income) in the condensed consolidated statements of operations for the change in the fair value of the contingent consideration for the three and nine months ended September 30, 2022 and 2021, respectively, and approximately $ 1.6 million , $ 1.7 million , $ 2.1 million and $ 1.7 million of income was recorded as a component of other expenses, net in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021. The public warrants to purchase the Company’s common stock (the “Public Warrants”), of which approximately 14.7 million were outstanding as of September 30, 2022, are measured at fair value at the end of each reporting period and amounted to $ 26.2 million and $ 23.6 million as of September 30, 2022 and December 31, 2021, respectively. The fair value methodology for the Public Warrants is categorized as Level 1. Approximately $ 5.3 million , $ 2.5 million , $ 0.1 million and $ 10.9 million were recorded as a component of interest and other financial expenses in the condensed consolidated statements of operations for the change in the fair value of the Public Warrants for the three and nine months ended September 30, 2022 and 2021, respectively. The private warrants to purchase the Company’s common stock (the “Private Warrants”), of which approximately 2.6 million were outstanding as of September 30, 2022, are measured at fair value at the end of each reporting period and amounted to $ 5.0 million and $ 7.2 million as of September 30, 2022 and December 31, 2021 , respectively. The fair value methodology for the Private Warrants is categorized as Level 2 because certain inputs to the valuation methodology are unobservable and significant to the fair value adjustment. The Private Warrants have been recorded at fair value based on a Black-Scholes option pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 3.2 Expected dividend rate 0.9 % Volatility 34.5 % Risk-free interest rate 4.2 % Strike price $ 11.50 For the change in the fair value of the Private Warrants, approximately $ 1.1 million , $ 1.0 million , $ 0.3 million and $ 2.4 million were recorded as a component of interest and other financial expenses in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021, respectively. The Haymaker Founders (as defined in Note 17 to the annual financial statements) will be entitled to up to 200 thousand shares of common stock to be issued subject to the number of incremental shares of common stock issued to the holders of the Series A redeemable preferred stock not being higher than certain thresholds (the “Deferred Shares”). The Deferred Shares are measured at fair value at the end of each reporting period and amounted to $ 1.6 million as of both September 30, 2022 and December 31, 2021 . The fair value methodology for the Deferred Shares is categorized as Level 3 because inputs to the valuation methodology are unobservable and significant to the fair value adjustment. The Deferred Shares have been recorded at fair value based on a Monte Carlo pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 4.7 Volatility 39.5 % Risk-free interest rate 4.1 % Stock price $ 9.39 Approximately $ 0.2 million , $ 0.2 million , $ 0 and $ 0.2 million were recorded as a component of interest and other financial expenses in the condensed consolidated statements of operations for the change in the fair value of the Deferred Shares for the three and nine months ended September 30, 2022 and 2021, respectively. The Company entered into an agreement with Ares Capital Corporation (“Ares”) and certain of its affiliates (the “Ares Put Option”), which generally guarantees Ares a value of approximately $ 27.3 million (including all dividend payments received by Ares) at the end of February 2023 for the shares of common stock that the Company issued in consideration for its acquisition in December 2020 of equity in GPM. The Ares Put Option is measured at fair value at the end of each reporting period and amounted to $ 7.0 million and $ 8.9 million as of September 30, 2022 and December 31, 2021 , respectively. The fair value methodology for the Ares Put Option is categorized as Level 3 because inputs to the valuation methodology are unobservable and significant to the fair value adjustment. The Ares Put Option has been recorded at its fair value based on a Monte Carlo pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 0.4 Volatility 29.9 % Risk-free interest rate 3.7 % Strike price $ 12.875 Approximately $ 2.4 million , $ 2.6 million , $ 1.9 million and $ 2.9 million were recorded as a component of interest and other financial income in the condensed consolidated statements of operations for the change in the fair value of the Ares Put Option for the three and nine months ended September 30, 2022 and 2021 , respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	11. Segment Reporting The reportable segments were determined based on information reviewed by the chief operating decision maker for operational decision-making purposes and the segment information is prepared on the same basis that our chief operating decision maker reviews such financial information. The Company’s reportable segments are retail, wholesale, fleet fueling and GPMP. The Company defines segment earnings as operating income. The retail segment includes the operation of a chain of retail stores, which includes convenience stores selling fuel products and other merchandise to retail customers. At its Company operated convenience stores, the Company owns the merchandise and fuel inventory and employs personnel to manage the store. The wholesale segment supplies fuel to independent dealers, sub-wholesalers and bulk and spot purchasers, on either a cost plus or consignment basis. For consignment arrangements, the Company retains ownership of the fuel inventory at the site, is responsible for the pricing of the fuel to the end consumer, and shares the gross profit with the independent dealers. The fleet fueling segment, which was added to the Company’s business upon the closing of the Quarles Acquisition on July 22, 2022, includes the operation of proprietary and third-party cardlock locations (unstaffed fueling locations), and commissions from the sales of fuel using proprietary fuel cards that provide customers access to a nationwide network of fueling sites. The GPMP segment includes GPM Petroleum LP (“GPMP”) and primarily includes the sale and supply of fuel to GPM and its subsidiaries that sell fuel in the retail and wholesale segments at GPMP’s cost of fuel (including taxes and transportation) plus a fixed margin (currently 5.0 cents per gallon), a fixed fee charged to sites in the fleet fueling segment (currently 5.0 cents per gallon sold), and the supply of fuel to a small number of independent dealers and bulk and spot purchasers. The “All Other” segment includes the results of non-reportable segments which do not meet both quantitative and qualitive criteria as defined under ASC 280, Segment Reporting. The Company revised the composition of the “All Other” segment in the third quarter of 2022 in conjunction with the closing of the Quarles Acquisition. The majority of general and administrative expenses, depreciation and amortization, net other expenses, net interest and other financial expenses, income taxes and minor other income items including intercompany operating leases are not allocated to the segments. With the exception of goodwill, assets and liabilities relevant to the reportable segments are not assigned to any particular segment, but rather, managed at the consolidated level. All reportable segment revenues were generated from sites within the United States and substantially all of the Company’s assets were within the United States. Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and its subsidiaries that sell fuel (both in the retail and wholesale segments) and charges by GPMP to sites that sell fuel in the fleet fueling segment. The effect of these inter-segment transactions was eliminated in the condensed consolidated financial statements. Retail Wholesale Fleet Fueling GPMP All Other Total For the Three Months Ended September 30, (in thousands) Revenues Fuel revenue $ 1,028,323 $ 827,436 $ 120,813 $ 1,437 $ 1,565 $ 1,979,574 Merchandise revenue 445,822 — — — — 445,822 Other revenues, net 16,651 5,693 923 261 723 24,251 Total revenues from external 1,490,796 833,129 121,736 1,698 2,288 2,449,647 Inter-segment — — — 1,445,072 857 1,445,929 Total revenues from reportable 1,490,796 833,129 121,736 1,446,770 3,145 3,895,576 Operating income 84,849 10,459 6,629 23,388 245 125,570 Interest and financial expenses, net ( 3,209 ) — ( 3,209 ) Loss from equity investment ( 44 ) ( 44 ) Net income from reportable segments $ 122,317 Retail Wholesale GPMP All Other Total For the Three Months Ended September 30, 2021 (in thousands) Revenues Fuel revenue $ 847,869 $ 730,847 $ 1,643 $ — $ 1,580,359 Merchandise revenue 434,652 — — — 434,652 Other revenues, net 14,488 5,275 287 — 20,050 Total revenues from external customers 1,297,009 736,122 1,930 — 2,035,061 Inter-segment — — 1,217,622 317 1,217,939 Total revenues from reportable 1,297,009 736,122 1,219,552 317 3,253,000 Operating income 75,285 5,837 24,593 317 106,032 Interest and financial expenses, net ( 3,894 ) — ( 3,894 ) Income tax expense ( 55 ) ( 55 ) Income from equity investment 85 85 Net income from reportable segments $ 102,168 Retail Wholesale Fleet Fueling GPMP All Other Total For the Nine Months Ended September 30, (in thousands) Revenues Fuel revenue $ 3,000,839 $ 2,521,567 $ 120,813 $ 4,170 $ 1,565 $ 5,648,954 Merchandise revenue 1,244,558 — — — — 1,244,558 Other revenues, net 49,642 17,148 923 773 723 69,209 Total revenues from external 4,295,039 2,538,715 121,736 4,943 2,288 6,962,721 Inter-segment — — — 4,459,036 1,461 4,460,497 Total revenues from reportable 4,295,039 2,538,715 121,736 4,463,979 3,749 11,423,218 Operating income 202,375 27,658 6,629 65,794 849 303,305 Interest and financial expenses, net ( 7,473 ) — ( 7,473 ) Income tax benefit 177 177 Loss from equity investment ( 7 ) ( 7 ) Net income from reportable segments $ 296,002 Retail Wholesale GPMP All Other Total For the Nine Months Ended September 30, 2021 (in thousands) Revenues Fuel revenue $ 2,192,889 $ 1,946,856 $ 4,324 $ — $ 4,144,069 Merchandise revenue 1,220,298 — — — 1,220,298 Other revenues, net 48,717 15,426 806 — 64,949 Total revenues from external customers 3,461,904 1,962,282 5,130 — 5,429,316 Inter-segment — — 3,130,015 951 3,130,966 Total revenues from reportable 3,461,904 1,962,282 3,135,145 951 8,560,282 Operating income 186,847 14,137 68,326 951 270,261 Interest and financial expenses, net ( 11,594 ) — ( 11,594 ) Income tax expense ( 166 ) ( 166 ) Income from equity investment 105 105 Net income from reportable segments $ 258,606 A reconciliation of total revenues from reportable segments to total revenues on the condensed consolidated statements of operations was as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Total revenues from reportable segments $ 3,895,576 $ 3,253,000 $ 11,423,218 $ 8,560,282 Other revenues, net — ( 38 ) — ( 123 ) Elimination of inter-segment revenues ( 1,445,929 ) ( 1,217,939 ) ( 4,460,497 ) ( 3,130,966 ) Total revenues $ 2,449,647 $ 2,035,023 $ 6,962,721 $ 5,429,193 A reconciliation of net income from reportable segments to net income on the condensed consolidated statements of operations was as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Net income from reportable segments $ 122,317 $ 102,168 $ 296,002 $ 258,606 Amounts not allocated to segments: Other revenues, net — ( 38 ) — ( 123 ) Store operating expenses 576 1,118 1,907 2,370 General and administrative expenses ( 35,245 ) ( 31,941 ) ( 98,521 ) ( 89,011 ) Depreciation and amortization ( 24,218 ) ( 20,187 ) ( 69,523 ) ( 66,017 ) Other (expenses) income, net ( 951 ) 56 ( 3,269 ) ( 2,811 ) Interest and other financial expenses, net ( 16,587 ) ( 10,851 ) ( 36,241 ) ( 44,399 ) Income tax expense ( 20,898 ) ( 4,740 ) ( 31,237 ) ( 12,119 ) Net income $ 24,994 $ 35,585 $ 59,118 $ 46,496

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2022
Income Taxes Paid, Net [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes Internal Entity Realignment and Streamlining In the third quarter of 2022, the Company, in order to streamline business operations and provide long term synergies and other cost savings, approved an internal restructuring of certain direct and indirect subsidiaries. The internal restructuring involves a series of steps, the majority of which were completed by the end of the third quarter of 2022. As part of the internal restructuring plan, the tax status of certain subsidiaries changed from nontaxable to taxable. Accordingly, the recognition and derecognition of certain deferred taxes are reflected in the continuing operations at the date the change in tax status occurs. The Company recorded a one-time non-cash tax expense in the amount of approximately $ 8.7 million for both the three and nine months ended September 30, 2022 in connection with the internal restructuring. The recording of this deferred tax expense aligned the Company’s deferred tax assets and liabilities to reflect the temporary differences between the financial statement and tax basis of the Company’s assets and liabilities at the time of the change in status.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Environmental Liabilities and Contingencies The Company is subject to certain federal and state environmental laws and regulations associated with sites at which it stores and sells fuel and other fuel products, as well as at owned and leased locations leased or subleased to independent dealers. As of September 30, 2022 and December 31, 2021, environmental obligations totaled $ 12.5 million and $ 12.9 million , respectively. These amounts were recorded as other current and non-current liabilities in the condensed consolidated balance sheets. Environmental reserves have been established on an undiscounted basis based upon internal and external estimates in regard to each site. It is reasonably possible that these amounts will be adjusted in the future due to changes in estimates of environmental remediation costs, the timing of the payments or changes in federal and/or state environmental regulations. The Company maintains certain environmental insurance policies and participates in various state underground storage tank funds that entitle it to be reimbursed for environmental loss mitigation. Estimated amounts that will be recovered from its insurance policies and various state funds for the exposures totaled $ 4.9 million as of both September 30, 2022 and December 31, 2021, and were recorded as other current and non-current assets in the condensed consolidated balance sheets. Purchase Commitments In the ordinary course of business, the Company has entered into various purchase agreements related to its fuel supply, which include varying volume commitments. In light of the reduction in the number of gallons sold since the onset of the COVID-19 pandemic, certain of the Company’s principal fuel suppliers have waived the requirements under their agreements with the Company to purchase minimum quantities of gallons, including such requirements under the incentive agreements from such suppliers. As of September 30, 2022, the reduction in gallons sold did not affect the Company’s compliance with its commitments under the agreements with its principal suppliers. Asset Retirement Obligations As part of the fuel operations at its operated convenience stores, at most of the other owned and leased locations leased to independent dealers, and certain other independent dealer locations and proprietary cardlock locations, there are underground storage tanks for which the Company is responsible. The future cost to remove an underground storage tank is recognized over the estimated remaining useful life of the underground storage tank or the termination of the applicable lease. A liability for the fair value of an asset retirement obligation with a corresponding increase to the carrying value of the related long-lived asset is recorded at the time an underground storage tank is installed. The estimated liability is based upon historical experience in removing underground storage tanks, estimated tank useful lives, external estimates as to the cost to remove the tanks in the future and current and anticipated federal and state regulatory requirements governing the removal of tanks, and discounted. The Company has recorded an asset retirement obligation of $ 64.1 million and $ 58.4 million at September 30, 2022 and December 31, 2021, respectively. The current portion of the asset retirement obligation is included in other current liabilities in the condensed consolidated balance sheets. Program Agreement In April 2022, GPM, together with an affiliate of Oak Street, entered into an amendment to the Program Agreement, which extended the term of the Program Agreement from one to two years and provides for up to $ 1.15 billion of capacity for the acquisition of convenience store and gas station real property by Oak Street, subject to the conditions contained in the Program Agreement, during the second year of the term, in addition to the approximately $ 130 million of funding utilized in July 2022 as described in Note 3, which is inclusive of purchase agreements that the Company or an affiliate thereof may from time to time enter into to acquire convenience stores and gas station real property from third-parties. The term of the Program Agreement, as amended, extends through May 2, 2023. Legal Matters The Company is a party to various legal actions, as both plaintiff and defendant, in the ordinary course of business. The Company’s management believes, based on estimations with support from legal counsel for these matters, that these legal actions are routine in nature and incidental to the operation of the Company’s business and that it is not reasonably possible that the ultimate resolution of these matters will have a material adverse impact on the Company’s business, financial condition, results of operations and cash flows.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	14. Related Party Transactions There have been no material changes to the description of related party transactions as set forth in the annual financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis for Presentation	Basis of Presentation All significant intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements, which are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Interim Financial Statements The accompanying condensed consolidated financial statements (“interim financial statements”) as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021 are unaudited and have been prepared in accordance with GAAP for interim financial information and Regulation S-X set forth by the Securities and Exchange Commission (the “SEC”) for interim reporting. In the opinion of management, all adjustments (consisting of normal and recurring adjustments except those otherwise described herein) considered necessary for a fair presentation have been included in the accompanying interim financial statements. However, they do not include all of the information and disclosures required by GAAP for complete financial statements. Therefore, the interim financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes of the Company included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (the “annual financial statements”). The same significant accounting policies, presentation and methods of computation have been followed in these interim financial statements as were applied in the preparation of the annual financial statements.
Accounting Periods	Accounting Periods The Company’s fiscal periods end on the last day of the month, and its fiscal year ends on December 31. This results in the Company experiencing fluctuations in current assets and current liabilities due to purchasing and payment patterns which change based upon the day of the week. As a result, working capital can change from period to period not only due to changing business operations, but also due to a change in the day of the week in which each period ends. The Company earns a disproportionate amount of its annual operating income in the second and third quarters as a result of the climate and seasonal buying patterns of its customers. Inclement weather, especially in the Midwest and Northeast regions of the U.S. during the winter months, can negatively impact financial results.
Use of Estimates	Use of Estimates In the preparation of interim condensed consolidated financial statements, management may make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include right-of-use assets and lease liabilities; impairment of goodwill, intangible, right-of-use and fixed assets; environmental assets and liabilities; deferred tax assets; and asset retirement obligations.
Revenue Recognition	Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to the customers. This requires the Company to identify contractual performance obligations and determine whether revenue should be recognized at a single point in time or over time, based on when control of goods and services transfers to a customer. Control is transferred to the customer over time if the customer simultaneously receives and consumes the benefits provided by the Company’s performance. If a performance obligation is not satisfied over time, the Company satisfies the performance obligation at a single point in time. Revenue is recognized in an amount that reflects the consideration to which the Company expects to be entitled in exchange for goods or services. When the Company satisfies a performance obligation by transferring control of goods or services to the customer, revenue is recognized against contract assets in the amount of consideration to which the Company is entitled. When the consideration amount received from the customer exceeds the amounts recognized as revenue, the Company recognizes a contract liability for the excess. An asset is recognized related to the costs incurred to obtain a contract (i.e. sales commissions) if the costs are specifically identifiable to a contract, the costs will result in enhancing resources that will be used in satisfying performance obligations in the future and the costs are expected to be recovered. These capitalized costs are recorded as a part of other current assets and other non-current assets and are amortized on a systematic basis consistent with the pattern of transfer of the goods or services to which such costs relate. The Company expenses the costs to obtain a contract, as and when they are incurred, in cases where the expected amortization period is one year or less. The Company evaluates if it is a principal or an agent in a transaction to determine whether revenue should be recorded on a gross or a net basis. In performing this analysis, the Company considers first whether it controls the goods before they are transferred to the customers and if it has the ability to direct the use of the goods or obtain benefits from them. The Company also considers the following indicators: (1) the primary obligor, (2) the latitude in establishing prices and selecting suppliers, and (3) the inventory risk borne by the Company before and after the goods have been transferred to the customer. When the Company acts as principal, revenue is recorded on a gross basis. When the Company acts as agent, revenue is recorded on a net basis. Fuel revenue and fuel cost of revenue included fuel taxes of $ 274.8 million , $ 275.9 million , $ 750.3 million and $ 761.1 million for the three and nine months ended September 30, 2022 and 2021, respectively. Refer to Note 11 for disclosure of the revenue disaggregated by segment and product line, as well as a description of the reportable segment operations.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounts for financial derivative instruments at fair value and applies hedge accounting rules when applicable. The Company utilizes ultra-low sulfur diesel-based derivative instruments to offset changes in the fair value of its firm commitment to purchase diesel fuel which is ultimately delivered to certain of its fleet fueling sites. These instruments are accounted for as fair value hedges of a firm commitment upon proper qualification. The Company assesses at inception and on an ongoing basis whether a derivative instrument accounted for as a hedge is highly effective in offsetting changes in the fair value of the hedged item (that is, the unrecognized firm commitment). The gain or loss on the hedging instrument is recognized currently in earnings within fuel costs in the condensed consolidated statement of operations, in the period that the changes in fair value occur. The gain or loss (that is, the change in fair value) on the hedged item attributable to the hedged risk designated as being hedged adjusts the carrying amount of the related hedged item and is simultaneously recognized in earnings within fuel costs in the condensed consolidated statement of operations, as an adjustment to the carrying amount of that hedged item (that is, the Company recognizes as assets or liabilities the changes in the fair value of the firm commitment that are attributable to the risk being hedged and that arise while the hedge of the firm commitment exists). When the underlying assets are purchased in accordance with the terms of the hedged firm commitment, the initial cost basis in the acquired assets is adjusted by the amount of the firm commitment that was recognized as an asset or liability under the fair value hedging model. See Note 6 and Note 10 for further information about the Company’s derivatives.
Reclassifications	Reclassifications Certain prior year equity amounts have been reclassified to conform to the current year presentation.
New Accounting Pronouncements	New Accounting Pronouncements Reference Rate Reform – In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This standard included optional guidance for a limited period of time to help ease the burden in accounting for the effects of reference rate reform. The new standard is effective for all entities through December 31, 2022. The Company has not needed to implement this optional guidance.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Acquisition [Line Items]
Summary of Pro Forma Results of Operations	The unaudited pro forma financial information is not necessarily indicative of what the actual results of operations would have been had the acquisitions occurred at the beginning of each period presented below nor is it indicative of future results. For the Nine Months 2022 2021 (unaudited) (in thousands) Total revenue $ 7,367,538 $ 6,023,592 Net income 67,558 52,591
Quarles Petroleum Inc [Member]
Business Acquisition [Line Items]
Summary of Details of Business Combination	The details of the Quarles Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 15,056 GPMP Capital One Line of Credit 40,000 Liability resulting from contingent consideration 661 Consideration provided by Oak Street 129,316 Total consideration $ 185,033 Assets acquired and liabilities: Inventory $ 12,300 Other assets 1,392 Property and equipment, net 154,889 Intangible assets 22,130 Right-of-use assets under operating leases 32,384 Environmental receivables 8 Total assets 223,103 Other liabilities ( 1,168 ) Environmental liabilities ( 316 ) Asset retirement obligations ( 4,743 ) Operating leases ( 31,843 ) Total liabilities ( 38,070 ) Total identifiable net assets 185,033 Goodwill $ - Consideration paid in cash $ 55,056 Consideration provided by Oak Street 129,316 Net cash outflow $ 184,372

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The components of debt were as follows: September 30, December 31, (in thousands) Senior Notes $ 443,457 $ 442,889 PNC term loan — 32,385 M&T debt 50,866 43,392 Capital One line of credit 236,131 195,232 Insurance premium notes 3,120 3,111 Total debt, net $ 733,574 $ 717,009 Less current portion ( 11,477 ) ( 40,384 ) Total long-term debt, net $ 722,097 $ 676,625

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Summary of components of lease cost recorded on the consolidated statements of operations	The components of lease cost recorded on the condensed consolidated statements of operations were as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Finance lease cost: Depreciation of right-of-use assets $ 3,020 $ 3,390 $ 9,104 $ 10,117 Interest on lease liabilities 4,226 4,348 12,857 13,168 Operating lease costs included in store operating expenses 36,758 32,709 105,411 97,534 Operating lease costs included in general and administrative 473 425 1,211 1,279 Lease cost related to variable lease payments, short-term 602 674 1,815 1,507 Right-of-use asset impairment charges 911 507 911 1,030 Total lease costs $ 45,990 $ 42,053 $ 131,309 $ 124,635
Summary of supplemental balance sheet data related to leases	Supplemental balance sheet date related to leases was as follows: September 30, December 31, (in thousands) Operating leases Weighted average remaining lease term (in years) 13.9 14.1 Weighted average discount rate 7.7 % 7.3 % Financing leases Weighted average remaining lease term (in years) 23.5 23.8 Weighted average discount rate 7.2 % 7.3 %
Operating & Finance Leases, Liability, Maturity	The minimum lease payments presented below include periods where an option is reasonably certain to be exercised and do not take into consideration any future consumer price index adjustments for these agreements. Operating Financing (in thousands) October 2022 through September 2023 $ 144,419 $ 22,363 October 2023 through September 2024 145,600 21,006 October 2024 through September 2025 146,545 21,018 October 2025 through September 2026 146,281 20,745 October 2026 through September 2027 144,038 20,707 Thereafter 1,281,148 430,132 Gross lease payments $ 2,008,031 $ 535,971 Less: imputed interest ( 810,629 ) ( 303,048 ) Total lease liabilities $ 1,197,402 $ 232,923

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock Options and Restricted Stock Units Activity	The following table summarizes share activity related to stock options and restricted stock units: Stock Restricted (in thousands) Options Outstanding/Nonvested RSUs, December 31, 2021 126 1,606 Granted 771 1,913 Options Exercised/RSUs released — ( 385 ) Forfeited — ( 19 ) Options Outstanding/Nonvested RSUs, September 30, 2022 897 3,115
Summary of Stock Option Granted	The following table summarizes the stock options granted in 2022: Weighted average fair value $ 2.70 Weighted average exercise price $ 9.11 Remaining average contractual term (years) 9.4
Summary of Assumptions Utilized in Valuation of Stock Option Awards	The following table summarizes the assumptions utilized in the valuation of the stock option awards granted in the nine months ended September 30, 2022: Expected dividend rate 0.9 % Expected stock price volatility 28.3 % Risk-free interest rate 1.7 % Expected term of options (years) 10.0

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Per Share of Common Stock	The following table sets forth the computation of basic and diluted net income per share of common stock: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Net income available to common stockholders $ 23,494 $ 34,085 $ 54,635 $ 42,032 Dividends on redeemable preferred stock 1,449 1,449 — — Change in fair value of Ares Put Option (see Note 10) ( 2,425 ) ( 2,578 ) ( 1,894 ) ( 2,899 ) Net income available to common stockholders after assumed $ 22,518 $ 32,956 $ 52,741 $ 39,133 Weighted average common shares outstanding — Basic 120,074 124,428 121,950 124,406 Effect of dilutive securities: Restricted share units 1,182 234 618 170 Ares warrants — — — 6 Ares Put Option 757 930 959 772 Redeemable preferred stock 8,375 8,333 — — Weighted average common shares outstanding — Diluted 130,388 133,925 123,527 125,354 Net income per share available to common stockholders $ 0.20 $ 0.27 $ 0.45 $ 0.34 Net income per share available to common stockholders $ 0.17 $ 0.25 $ 0.43 $ 0.31
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive: As of September 30, 2022 2021 (in thousands) Stock options 897 126 Ares warrants 1,100 1,100 Public and Private warrants 17,333 17,333

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair Value Measurement Inputs and Valuation Techniques	The Private Warrants have been recorded at fair value based on a Black-Scholes option pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 3.2 Expected dividend rate 0.9 % Volatility 34.5 % Risk-free interest rate 4.2 % Strike price $ 11.50 The Deferred Shares have been recorded at fair value based on a Monte Carlo pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 4.7 Volatility 39.5 % Risk-free interest rate 4.1 % Stock price $ 9.39 The Ares Put Option has been recorded at its fair value based on a Monte Carlo pricing model with the following material assumptions based on observable and unobservable inputs: September 30, Expected term (in years) 0.4 Volatility 29.9 % Risk-free interest rate 3.7 % Strike price $ 12.875

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Reportable Segments	Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and its subsidiaries that sell fuel (both in the retail and wholesale segments) and charges by GPMP to sites that sell fuel in the fleet fueling segment. The effect of these inter-segment transactions was eliminated in the condensed consolidated financial statements. Retail Wholesale Fleet Fueling GPMP All Other Total For the Three Months Ended September 30, (in thousands) Revenues Fuel revenue $ 1,028,323 $ 827,436 $ 120,813 $ 1,437 $ 1,565 $ 1,979,574 Merchandise revenue 445,822 — — — — 445,822 Other revenues, net 16,651 5,693 923 261 723 24,251 Total revenues from external 1,490,796 833,129 121,736 1,698 2,288 2,449,647 Inter-segment — — — 1,445,072 857 1,445,929 Total revenues from reportable 1,490,796 833,129 121,736 1,446,770 3,145 3,895,576 Operating income 84,849 10,459 6,629 23,388 245 125,570 Interest and financial expenses, net ( 3,209 ) — ( 3,209 ) Loss from equity investment ( 44 ) ( 44 ) Net income from reportable segments $ 122,317 Retail Wholesale GPMP All Other Total For the Three Months Ended September 30, 2021 (in thousands) Revenues Fuel revenue $ 847,869 $ 730,847 $ 1,643 $ — $ 1,580,359 Merchandise revenue 434,652 — — — 434,652 Other revenues, net 14,488 5,275 287 — 20,050 Total revenues from external customers 1,297,009 736,122 1,930 — 2,035,061 Inter-segment — — 1,217,622 317 1,217,939 Total revenues from reportable 1,297,009 736,122 1,219,552 317 3,253,000 Operating income 75,285 5,837 24,593 317 106,032 Interest and financial expenses, net ( 3,894 ) — ( 3,894 ) Income tax expense ( 55 ) ( 55 ) Income from equity investment 85 85 Net income from reportable segments $ 102,168 Retail Wholesale Fleet Fueling GPMP All Other Total For the Nine Months Ended September 30, (in thousands) Revenues Fuel revenue $ 3,000,839 $ 2,521,567 $ 120,813 $ 4,170 $ 1,565 $ 5,648,954 Merchandise revenue 1,244,558 — — — — 1,244,558 Other revenues, net 49,642 17,148 923 773 723 69,209 Total revenues from external 4,295,039 2,538,715 121,736 4,943 2,288 6,962,721 Inter-segment — — — 4,459,036 1,461 4,460,497 Total revenues from reportable 4,295,039 2,538,715 121,736 4,463,979 3,749 11,423,218 Operating income 202,375 27,658 6,629 65,794 849 303,305 Interest and financial expenses, net ( 7,473 ) — ( 7,473 ) Income tax benefit 177 177 Loss from equity investment ( 7 ) ( 7 ) Net income from reportable segments $ 296,002 Retail Wholesale GPMP All Other Total For the Nine Months Ended September 30, 2021 (in thousands) Revenues Fuel revenue $ 2,192,889 $ 1,946,856 $ 4,324 $ — $ 4,144,069 Merchandise revenue 1,220,298 — — — 1,220,298 Other revenues, net 48,717 15,426 806 — 64,949 Total revenues from external customers 3,461,904 1,962,282 5,130 — 5,429,316 Inter-segment — — 3,130,015 951 3,130,966 Total revenues from reportable 3,461,904 1,962,282 3,135,145 951 8,560,282 Operating income 186,847 14,137 68,326 951 270,261 Interest and financial expenses, net ( 11,594 ) — ( 11,594 ) Income tax expense ( 166 ) ( 166 ) Income from equity investment 105 105 Net income from reportable segments $ 258,606
Schedule of Reconciliation of Total Revenues from Reportable Segments to Total Revenues	A reconciliation of total revenues from reportable segments to total revenues on the condensed consolidated statements of operations was as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Total revenues from reportable segments $ 3,895,576 $ 3,253,000 $ 11,423,218 $ 8,560,282 Other revenues, net — ( 38 ) — ( 123 ) Elimination of inter-segment revenues ( 1,445,929 ) ( 1,217,939 ) ( 4,460,497 ) ( 3,130,966 ) Total revenues $ 2,449,647 $ 2,035,023 $ 6,962,721 $ 5,429,193
Schedule of Reconciliation of Net Income from Reportable Segments to Net Income (Loss)	A reconciliation of net income from reportable segments to net income on the condensed consolidated statements of operations was as follows: For the Three Months For the Nine Months 2022 2021 2022 2021 (in thousands) Net income from reportable segments $ 122,317 $ 102,168 $ 296,002 $ 258,606 Amounts not allocated to segments: Other revenues, net — ( 38 ) — ( 123 ) Store operating expenses 576 1,118 1,907 2,370 General and administrative expenses ( 35,245 ) ( 31,941 ) ( 98,521 ) ( 89,011 ) Depreciation and amortization ( 24,218 ) ( 20,187 ) ( 69,523 ) ( 66,017 ) Other (expenses) income, net ( 951 ) 56 ( 3,269 ) ( 2,811 ) Interest and other financial expenses, net ( 16,587 ) ( 10,851 ) ( 36,241 ) ( 44,399 ) Income tax expense ( 20,898 ) ( 4,740 ) ( 31,237 ) ( 12,119 ) Net income $ 24,994 $ 35,585 $ 59,118 $ 46,496

General - Additional Informatio

General - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Sites States $ / shares	Dec. 31, 2021 $ / shares
General [Abstract]
Number of self operated sites	1,383
Number of Sites Operated By External Operators (dealers)	1,670
Number of cardlock sites	183
Number of states | States	33
Common stock par value | $ / shares	$ 0.0001	$ 0.0001

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Contract cost, amortization period	1 year		1 year
Fuel revenue and fuel costs included fuel taxes	$ 274.8	$ 750.3	$ 275.9	$ 761.1

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands			3 Months Ended		9 Months Ended
	Oct. 19, 2022 USD ($) StoresAndGasStation	Jul. 22, 2022 USD ($) Sites Dealer	Sep. 30, 2022 USD ($) Sites StoresAndGasStation Dealer Store	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Sites StoresAndGasStation Dealer Store	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Number of sites leased | Sites		121
Goodwill			$ 197,711		$ 197,711		$ 197,648
Quarles Petroleum Inc [Member]
Business Acquisition [Line Items]
Date of acquisition agreement		Jul. 22, 2022
Consideration provided by Oak Street		$ 129,316
Goodwill		0
Right-of-use assets under operating leases		32,384
Acquisition related cost recognized as other (income) expenses			$ 900		1,600
Consideration paid in cash		$ 185,033		$ 0		$ 0
Revenue through closing date of acquisition till period end date					142,400
Net income through acquisition date till period end date					$ 6,200
Number of dealer locations | Dealer		46
Business combination purchase price		$ 170,000
Quarles Petroleum Inc [Member] | Wholesale Fuel Supply Contracts
Business Acquisition [Line Items]
Useful life of the contracts					5 years 3 months
Quarles Petroleum Inc [Member] | Customer Relationships | Fueling sites
Business Acquisition [Line Items]
Useful life of the contracts					20 years
Oak Street [Member]
Business Acquisition [Line Items]
Number of sites leased | Sites			106		106
Consideration provided by Oak Street		$ 129,300
Number of sites leased | Sites		39
Right-of-use assets under operating leases		$ 81,800
Business combination purchase price					$ 60,000
Transit Energy Group [Member]
Business Acquisition [Line Items]
Number of convenience stores | Store			150		150
Number of dealer locations to be acquired | Dealer			200		200
Business combination purchase price					$ 375,000
Deferred consideration			$ 50,000		50,000
Deferred consideration annual installment amount			$ 25,000		$ 25,000
Express Stop [Member]
Business Acquisition [Line Items]
Number of sites leased | StoresAndGasStation			60		60
Handy Mart Acquisition [Member]
Business Acquisition [Line Items]
Number of sites leased | StoresAndGasStation			36		36
Pride Convenience Holdings, LLC [Member]
Business Acquisition [Line Items]
Number of convenience stores | StoresAndGasStation	31
Business combination purchase price	$ 230,000				$ 28,000
Capital One Line of credit [Member] | Quarles Petroleum Inc [Member]
Business Acquisition [Line Items]
Business combination purchase price		$ 40,000
Third Party [Member] | Quarles Petroleum Inc [Member]
Business Acquisition [Line Items]
Number of sites leased | Sites		63
Useful life of the contracts					2 years

Acquisitions - Summary of Detai

Acquisitions - Summary of Details of Business Combination (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 22, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 197,711		$ 197,648
Consideration paid in cash	$ 55,056
Net cash outflow			$ 191,203	$ 93,527
Quarles Petroleum Inc [Member]
Business Acquisition [Line Items]
Cash	15,056
GPMP Capital One Line of Credit	40,000
Liability resulting from Contingent Consideration	661
Consideration provided by Oak Street	129,316
Total consideration	185,033	$ 0		$ 0
Inventory	12,300
Other assets	1,392
Property and equipment, net	154,889
Intangible assets	22,130
Right-of-use assets under operating leases	32,384
Environmental receivables	8
Total assets	223,103
Other liabilities	(1,168)
Environmental liabilities	(316)
Asset retirement obligations	(4,743)
Operating leases	(31,843)
Total liabilities	(38,070)
Total identifiable net assets	185,033
Goodwill	0
Net cash outflow	$ 184,372

Acquisitions - Summary of Pro F

Acquisitions - Summary of Pro Forma Results of Operations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Business Combinations [Abstract]
Total revenue	$ 7,367,538	$ 6,023,592
Net income (loss)	$ 67,558	$ 52,591

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt, net	$ 733,574	$ 717,009
Capital One line of credit	236,131	195,232
Insurance premium notes	3,120	3,111
Less current portion	(11,477)	(40,384)
Total long-term debt, net	722,097	676,625
Senior Notes [Member]
Debt Instrument [Line Items]
Total debt, net	443,457	442,889
PNC Term Loan [Member]
Debt Instrument [Line Items]
Total debt, net	0	32,385
M&T Debt [Member]
Debt Instrument [Line Items]
Total debt, net	$ 50,866	$ 43,392

Debt (Additional Information) (

Debt (Additional Information) (Details)	1 Months Ended
	Aug. 31, 2022
Secured Debt [Abstract]
Percentage of outstanding principal amount of loan Secured by restricted investments	98%

Leases - Additional Information

Leases - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Dealer Store Cardlock
Lessee, Lease, Description [Line Items]
Leases description	the Company leased 1,120 of the convenience stores that it operates, 169 independent dealer locations, 114 cardlock locations and certain office and storage spaces, including land and buildings in certain cases
Number of leased convenience stores | Store	1,120
Number of leased dealer locations | Dealer	169
Number of leased cardlock locations | Cardlock	114
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease agreements period	20 years
Lease renewal terms	25 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease agreements period	15 years
Lease renewal terms	5 years

Leases - Summary of components

Leases - Summary of components of lease cost recorded on the consolidated statements of operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finance lease cost:
Depreciation of right-of-use assets	$ 3,020	$ 3,390	$ 9,104	$ 10,117
Interest on lease liabilities	4,226	4,348	12,857	13,168
Operating lease costs included in store operating expenses	36,758	32,709	105,411	97,534
Operating lease costs included in general and administrative expenses	473	425	1,211	1,279
Lease cost related to variable lease payments, short-term leases and leases of low value assets	602	674	1,815	1,507
Right-of-use asset impairment charges	911	507	911	1,030
Total lease costs	$ 45,990	$ 42,053	$ 131,309	$ 124,635

Leases -Summary of Supplemental

Leases -Summary of Supplemental Balance Sheet Data Information (Details)	Sep. 30, 2022	Dec. 31, 2021
Operating Leases
Weighted average remaining lease term (in years)	13 years 10 months 24 days	14 years 1 month 6 days
Weighted average discount rate	7.70%	7.30%
Financing Leases
Weighted average remaining lease term (in years)	23 years 6 months	23 years 9 months 18 days
Weighted average discount rate	7.20%	7.30%

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Leases Liability Maturity (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating
October 2022 through September 2023	$ 144,419
October 2023 through September 2024	145,600
October 2024 through September 2025	146,545
October 2025 through September 2026	146,281
October 2026 through September 2027	144,038
Thereafter	1,281,148
Gross lease payments	2,008,031
Less: imputed interest	(810,629)
Total lease liabilities	1,197,402
Financing
October 2022 through September 2023	22,363
October 2023 through September 2024	21,006
October 2024 through September 2025	21,018
October 2025 through September 2026	20,745
October 2026 through September 2027	20,707
Thereafter	430,132
Gross lease payments	535,971
Less: imputed interest	(303,048)
Total lease liabilities	$ 232,923

Financial Derivative Instrume_2

Financial Derivative Instruments (Additional Information) (Details) $ in Millions	Sep. 30, 2022 USD ($)
Financial Derivative Instruments [Abstract]
Fuel gallons hedged	$ 2.4
Assets derivative fair value	0.7
Firm commitment fair value	$ 0.7

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions				3 Months Ended	9 Months Ended
	Jul. 20, 2022	Apr. 29, 2022	Feb. 21, 2022	Sep. 30, 2022	Sep. 30, 2022	Feb. 28, 2022
Class of Stock [Line Items]
Dividend payable nature	quarterly		quarterly
Declared dividend per share	$ 0.03		$ 0.02
Dividend payable date	Sep. 12, 2022	Jun. 15, 2022	Mar. 29, 2022
Dividend payable record	Aug. 29, 2022	May 31, 2022	Mar. 15, 2022
Dividend	$ 2,400,000	$ 2,400,000	$ 2,500,000
Authorized amount of share repurchase program						$ 50,000,000
Treasury stock shares, acquired				400	4.5
Treasury stock value acquired cost method				$ 3,300	$ 39,000,000
Average price per share				$ 7.98	$ 8.60
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Conversion price previously reported			$ 12
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Conversion price			$ 11.94

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum Defer Cash Fee Invested In Restricted Stock Units Percentage				100%
Share-based compensation				$ 9,027	$ 4,127
Total Unrecognized compensation cost related to unvested shares, stock options and RSUs granted	$ 20,600			$ 20,600		$ 11,600
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding	3,115,000			3,115,000		1,606,000
Outstanding, Shares	3,115,000			3,115,000		1,606,000
Granted				1,913,000
Restricted Stock Units (RSUs) | Non-employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding	188,587			188,587
Outstanding, Shares	188,587			188,587
Weighted average grant date fair value				$ 8.74
Grant date fair value				$ 900
Granted				99,017,000
Performance based Restricted Stock Units (RSU's)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value			$ 8.35
Grant date fair value			$ 9,300
Granted			1,120,354
Terms of Agreement				3 years
Employees, Non-employees And Board of Directors | General and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 3,100	$ 1,600		$ 9,000	$ 4,100
Time-vested RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value				$ 8.47
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms				2 years 10 months 24 days
Grant date fair value				$ 5,900
Granted				693,590
Unvested Restricted Stock Units | Senior management members
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value				$ 7.58
Grant date fair value				$ 100
Granted				13,332

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Options and Restricted Stock Units Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2022 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding Beginning Balance	126
Granted	771
Options Exercised	0
Forfeited	0
Options Outstanding, Ending Balance	897
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested RSUs, Beginning Balance	1,606
Granted	1,913
RSUs released	(385)
Forfeited	(19)
Nonvested RSUs, Ending Balance	3,115

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock Option Granted (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Weighted average fair value	$ 2.70
Weighted average exercise price	$ 9.11
Remaining average contractual team (years)	9 years 4 months 24 days

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of the Assumptions Utilized in the Valuation of the Stock Option Awards (Details)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Expected dividend rate	0.90%
Expected stock price volatility	28.30%
Risk-free interest rate	1.70%
Expected term of options (years)	10 years

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 23,494	$ 34,085	$ 54,635	$ 42,032
Dividends on redeemable preferred stock	1,449	1,449	0	0
Change in fair value of Ares Put Option (see Note 10)	(2,425)	(2,578)	1,894	(2,899)
Net income available to common stockholders after assumed conversions	$ 22,518	$ 32,956	$ 52,741	$ 39,133
Weighted average common shares outstanding — Basic	120,074	124,428	121,950	124,406
Effect of dilutive securities:
Restricted share units	$ 1,182	$ 234	$ 618	$ 170
Ares warrants	0	0	0	6
Ares Put Option	757	930	959	772
Redeemable preferred stock	$ 8,375	$ 8,333	$ 0	$ 0
Weighted average common shares outstanding — Diluted	130,388	133,925	123,527	125,354
Net income per share available to common stockholders - Basic	$ 0.20	$ 0.27	$ 0.45	$ 0.34
Net income per share available to common stockholders - Diluted	$ 0.17	$ 0.25	$ 0.43	$ 0.31

Earnings per Share - Schedule o

Earnings per Share - Schedule of Securities with Antidilutive Earnings Per Share (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Stock options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of diluted earnings per share (in shares)	897	126
Ares warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of diluted earnings per share (in shares)	1,100	1,100
Public and Private warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of diluted earnings per share (in shares)	17,333	17,333

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Oct. 21, 2021	Dec. 31, 2020
Fair Value Measurements [Line Items]
Change in fair value of Contingent Consideration	$ 1,600	$ 1,700	$ 2,100	$ 1,700
Fair value adjustment of Deferred shares	200	0	200	200
Change in fair value of Ares Put Option	(2,425)	(2,578)	1,894	(2,899)
Fair value adjustment of warrants	100	0	(300)	400
Senior Notes [Member]
Fair Value Measurements [Line Items]
Senior Notes, Noncurrent						$ 450,000
Debt instrument, interest rate, stated percentage						5.125%
Fair value of bonds	351,000		351,000		$ 436,000
Long-Term Debt, Gross	450,000		450,000		450,000
Level 3 [Member]
Fair Value Measurements [Line Items]
Contingent payments related to acquisitions	$ 3,800		$ 3,800		6,200
Public Warrants [Member]
Fair Value Measurements [Line Items]
Warrants to purchase common stock	14,700		14,700
Public Warrants Liability Fair Value Adjustment	$ 5,300	2,500	$ 100	10,900
Public Warrants [Member] | Level 1 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants	26,200		26,200		23,600
Private Warrants [Member]
Fair Value Measurements [Line Items]
Private warrants liability fair value adjustment	$ 1,100	300	$ 1,000	2,400
Warrants to purchase common stock	2,600		2,600
Private Warrants [Member] | Level 2 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants	$ 5,000		$ 5,000		7,200
Deferred Shares [Member]
Fair Value Measurements [Line Items]
Warrants to purchase common stock	200		200
Fair Value of Deferred Shares classified as liabilities, value	$ 1,600		$ 1,600		1,600
Ares Put Option [Member]
Fair Value Measurements [Line Items]
Put Option Contract Fair Value							$ 27,300
Fair value of put option	7,000		7,000		$ 8,900
Change in fair value of Ares Put Option	$ 2,400	$ 1,900	$ 2,600	$ 2,900

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Fair Value Material Assumptions Based on Observable and Unobservable Inputs (Details)	9 Months Ended
	Sep. 30, 2022 yr $ / shares
Expected Dividend Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.9
Level 3 [Member] | Ares Put Option [Member] | Expected term (in years) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input | yr	0.4
Level 3 [Member] | Ares Put Option [Member] | Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	29.9
Level 3 [Member] | Ares Put Option [Member] | Risk-free interest rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	3.7
Level 3 [Member] | Ares Put Option [Member] | Stock price [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Strike price | $ / shares	$ 12.875
Private Warrants [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Strike price | $ / shares	$ 11.50
Private Warrants [Member] | Level 2 [Member] | Expected term (in years) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input | yr	3.2
Private Warrants [Member] | Level 2 [Member] | Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	34.5
Private Warrants [Member] | Level 2 [Member] | Risk-free interest rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	4.2
Deferred Shares [Member] | Level 3 [Member] | Expected term (in years) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input | yr	4.7
Deferred Shares [Member] | Level 3 [Member] | Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	39.5
Deferred Shares [Member] | Level 3 [Member] | Risk-free interest rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	4.1
Deferred Shares [Member] | Level 3 [Member] | Stock price [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Strike price | $ / shares	$ 9.39

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 $ / gal
Segment Reporting [Abstract]
Fixed margin	5

Segment Reporting - Schedule of

Segment Reporting - Schedule of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 2,449,647	$ 2,035,023	$ 6,962,721	$ 5,429,193
Operating Income	125,570	106,032	303,305	270,261
Interest and financial expenses, net	(3,209)	(3,894)	(7,473)	(11,594)
Income tax (expense) benefit		(55)	177	(166)
Income loss from equity investment	(44)	85	(7)	105
Net income from reportable segments	122,317	102,168	296,002	258,606
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	2,449,647	2,035,061	6,962,721	5,429,316
Net income from reportable segments	122,317	102,168	296,002	258,606
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	1,445,929	1,217,939	4,460,497	3,130,966
Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	3,895,576	3,253,000	11,423,218	8,560,282
Retail
Segment Reporting Information [Line Items]
Operating Income	84,849	75,285	202,375	186,847
Retail | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,490,796	1,297,009	4,295,039	3,461,904
Retail | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Retail | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	1,490,796	1,297,009	4,295,039	3,461,904
Wholesale
Segment Reporting Information [Line Items]
Operating Income	10,459	5,837	27,658	14,137
Wholesale | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	833,129	736,122	2,538,715	1,962,282
Wholesale | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Wholesale | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	833,129	736,122	2,538,715	1,962,282
Fleet Fueling
Segment Reporting Information [Line Items]
Operating Income	6,629		6,629
Fleet Fueling | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	121,736		121,736
Fleet Fueling | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	0		0
Fleet Fueling | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	121,736		121,736
Gpmp
Segment Reporting Information [Line Items]
Operating Income	23,388	24,593	65,794	68,326
Interest and financial expenses, net	(3,209)	(3,894)	(7,473)	(11,594)
Gpmp | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,698	1,930	4,943	5,130
Gpmp | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	1,445,072	1,217,622	4,459,036	3,130,015
Gpmp | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	1,446,770	1,219,552	4,463,979	3,135,145
Other Segments
Segment Reporting Information [Line Items]
Operating Income	245	317	849	951
Interest and financial expenses, net	0	0	0	0
Income tax (expense) benefit		(55)	177	(166)
Income loss from equity investment	(44)	85	(7)	105
Other Segments | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	2,288	0	2,288	0
Other Segments | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	857	317	1,461	951
Other Segments | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	3,145	317	3,749	951
Fuel Revenue [Member]
Segment Reporting Information [Line Items]
Total revenues	1,979,574	1,580,359	5,648,954	4,144,069
Fuel Revenue [Member] | Retail
Segment Reporting Information [Line Items]
Total revenues	1,028,323	847,869	3,000,839	2,192,889
Fuel Revenue [Member] | Wholesale
Segment Reporting Information [Line Items]
Total revenues	827,436	730,847	2,521,567	1,946,856
Fuel Revenue [Member] | Fleet Fueling
Segment Reporting Information [Line Items]
Total revenues	120,813		120,813
Fuel Revenue [Member] | Gpmp
Segment Reporting Information [Line Items]
Total revenues	1,437	1,643	4,170	4,324
Fuel Revenue [Member] | Other Segments
Segment Reporting Information [Line Items]
Total revenues	1,565	0	1,565	0
Merchandise Revenue [Member]
Segment Reporting Information [Line Items]
Total revenues	445,822	434,652	1,244,558	1,220,298
Merchandise Revenue [Member] | Retail
Segment Reporting Information [Line Items]
Total revenues	445,822	434,652	1,244,558	1,220,298
Merchandise Revenue [Member] | Wholesale
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Merchandise Revenue [Member] | Fleet Fueling
Segment Reporting Information [Line Items]
Total revenues	0		0
Merchandise Revenue [Member] | Gpmp
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Merchandise Revenue [Member] | Other Segments
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Other Revenues, Net
Segment Reporting Information [Line Items]
Total revenues	24,251	20,050	69,209	64,949
Other Revenues, Net | Retail
Segment Reporting Information [Line Items]
Total revenues	16,651	14,488	49,642	48,717
Other Revenues, Net | Wholesale
Segment Reporting Information [Line Items]
Total revenues	5,693	5,275	17,148	15,426
Other Revenues, Net | Fleet Fueling
Segment Reporting Information [Line Items]
Total revenues	923		923
Other Revenues, Net | Gpmp
Segment Reporting Information [Line Items]
Total revenues	261	287	773	806
Other Revenues, Net | Other Segments
Segment Reporting Information [Line Items]
Total revenues	$ 723	$ 0	$ 723	$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Information [Line Items]
Total revenues	$ 2,449,647	$ 2,035,023	$ 6,962,721	$ 5,429,193
Reportable Legal Entities
Segment Information [Line Items]
Total revenues	3,895,576	3,253,000	11,423,218	8,560,282
Intersegment Eliminations
Segment Information [Line Items]
Total revenues	1,445,929	1,217,939	4,460,497	3,130,966
Other Revenue [Member]
Segment Information [Line Items]
Total revenues	$ 0	$ (38)	$ 0	$ (123)

Segment Reporting - Reconcili_2

Segment Reporting - Reconciliation of net income from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Information [Line Items]
Net income from reportable segments	$ 122,317	$ 102,168	$ 296,002	$ 258,606
Other revenues, net	2,449,647	2,035,023	6,962,721	5,429,193
Store operating expenses	189,582	164,432	534,197	464,038
General and administrative expenses	35,954	32,696	100,695	91,270
Depreciation and amortization	26,061	22,031	75,050	71,546
Other (expenses) income, net	(951)	56	(3,269)	(2,811)
Income tax expense	20,898	4,795	31,060	12,285
Net income	24,943	35,534	58,936	46,317
Other Revenue [Member]
Segment Information [Line Items]
Other revenues, net	0	(38)	0	(123)
Operating Segments
Segment Information [Line Items]
Net income from reportable segments	122,317	102,168	296,002	258,606
Other revenues, net	2,449,647	2,035,061	6,962,721	5,429,316
Amounts not allocated to segments [Member]
Segment Information [Line Items]
Store operating expenses	576	1,118	1,907	2,370
General and administrative expenses	(35,245)	(31,941)	(98,521)	(89,011)
Depreciation and amortization	(24,218)	(20,187)	(69,523)	(66,017)
Other (expenses) income, net	(951)	56	(3,269)	(2,811)
Interest and other financial expenses, net	(16,587)	(10,851)	(36,241)	(44,399)
Income tax expense	(20,898)	(4,740)	(31,237)	(12,119)
Net income	24,994	35,585	59,118	46,496
Amounts not allocated to segments [Member] | Other Revenue [Member]
Segment Information [Line Items]
Other revenues, net	$ 0	$ (38)	$ 0	$ (123)

Income tax (Additional Informat

Income tax (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Income tax [Abstract]
non-cash tax expense	$ 8.7	$ 8.7

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Environmental obligations		$ 12.5	$ 12.9
Estimated amount recoverable		4.9	4.9
Asset retirement obligation		$ 64.1	$ 58.4
Oak Street [Member]
Loss Contingencies [Line Items]
Real Estate Funding	$ 1,150
Remaining Amount to Acquire Businesses	$ 130