Arko (ARKO) 10-Q 7 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
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		118,656,855
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	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 220,142	$ 298,529
Restricted cash	15,136	18,240
Short-term investments	3,319	2,400
Trade receivables, net	135,663	118,140
Inventory	256,116	221,951
Other current assets	101,435	87,873
Total current assets	731,811	747,133
Non-current assets:
Property and equipment, net	748,697	645,809
Right-of-use assets under operating leases	1,418,902	1,203,188
Right-of-use assets under financing leases, net	174,221	182,113
Goodwill	277,795	217,297
Intangible assets, net	219,598	197,123
Equity investment	2,861	2,924
Deferred tax asset	57,007	22,728
Other non-current assets	40,565	36,855
Total assets	3,671,457	3,255,170
Current liabilities:
Long-term debt, current portion	13,369	11,944
Accounts payable	233,459	217,370
Other current liabilities	166,056	154,097
Operating leases, current portion	63,811	57,563
Financing leases, current portion	4,916	5,457
Total current liabilities	481,611	446,431
Non-current liabilities:
Long-term debt, net	810,302	740,043
Asset retirement obligation	79,837	64,909
Operating leases	1,422,736	1,218,045
Financing leases	223,871	225,907
Other non-current liabilities	275,584	178,945
Total liabilities	3,293,941	2,874,280
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:
ommon stock (par value $0.0001) - authorized: 400,000 shares; issued: 125,269 and 124,727 shares, respectively; outstanding: 118,843 and 120,074 shares, respectively	12	12
Treasury stock, at cost - 6,426 and 4,653 shares, respectively	(53,804)	(40,042)
Additional paid-in capital	238,617	229,995
Accumulated other comprehensive income	9,119	9,119
Retained earnings	83,533	81,750
Total shareholders' equity	277,477	280,834
Non-controlling interest	39	56
Total equity	277,516	280,890
Total liabilities, redeemable preferred stock and equity	$ 3,671,457	$ 3,255,170

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Common stock par value	$ 0.0001	$ 0.0001
Common stock shares authorized	400,000,000	400,000,000
Common stock shares issued	125,269,000	124,727,000
Common stock shares outstanding	118,843,000	120,074,000
Treasury stock common shares	6,426	4,653
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 2,469,141	$ 2,540,263	$ 4,557,517	$ 4,513,074
Operating expenses:
Fuel costs	1,801,103	1,955,019	3,338,985	3,425,668
Merchandise costs	329,903	300,387	607,226	559,180
Store operating expenses	218,002	178,077	410,685	344,615
General and administrative expenses	42,660	32,956	83,076	64,741
Depreciation and amortization	32,837	24,353	61,236	48,989
Total operating expenses	2,424,505	2,490,792	4,501,208	4,443,193
Other expenses, net	4,956	1,197	7,676	2,318
Operating income	39,680	48,274	48,633	67,563
Interest and other financial income	2,428	8,997	9,630	6,710
Interest and other financial expenses	(22,588)	(16,336)	(43,392)	(30,024)
Income before income taxes	19,520	40,935	14,871	44,249
Income tax expense	(5,014)	(9,157)	(2,856)	(10,162)
(Loss) income from equity investment	(27)	28	(63)	37
Net income	14,479	31,806	11,952	34,124
Less: Net income attributable to non-controlling interests	48	52	101	131
Net income attributable to ARKO Corp.	14,431	31,754	11,851	33,993
Series A redeemable preferred stock dividends	(1,434)	(1,434)	(2,852)	(2,852)
Net income attributable to common shareholders	$ 12,997	$ 30,320	$ 8,999	$ 31,141
Net income per share attributable to common shareholders - basic	$ 0.11	$ 0.25	$ 0.07	$ 0.25
Net income per share attributable to common shareholders - diluted	$ 0.11	$ 0.24	$ 0.07	$ 0.25
Weighted average shares outstanding:
Basic	119,893	121,529	120,073	122,909
Diluted	121,280	130,558	120,767	123,245
Fuel Revenue [Member]
Revenues:
Total revenues	$ 1,957,100	$ 2,085,854	$ 3,618,764	$ 3,669,380
Merchandise Revenue [Member]
Revenues:
Total revenues	484,561	431,751	884,849	798,736
Other Revenue [Member]
Revenues:
Total revenues	$ 27,480	$ 22,658	$ 53,904	$ 44,958

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]	Total Shareholders' Equity [Member]	Non-controlling Interest [Member]
Balance at Dec. 31, 2021	$ 253,676	$ 12	$ 0	$ 217,675	$ 9,119	$ 26,646	$ 253,452	$ 224
Balance, shares at Dec. 31, 2021		124,428,000
Share-based compensation	5,882	$ 0	0	5,882	0	0	5,882	0
Distributions to non-controlling interests	(120)	0	0	0	0	0	0	(120)
Dividends on redeemable preferred stock	(2,852)	0	0	0	0	(2,852)	(2,852)	0
Dividends declared	(4,889)	0	0	0	0	(4,889)	(4,889)	0
Common stock repurchased	(40,038)	$ 0	(40,038)	0	0	0	(40,038)	0
Common stock repurchased, Shares		(4,652,000)
Vesting and settlement of restricted share units, Shares		286,000
Vesting and settlement of restricted share units	0		0	0	0	0	0	0
Issuance of shares	0	$ 0	0	0	0	0	0	0
Issuance of shares, shares		13,000
Net income	34,124	$ 0	0	0	0	33,993	33,993	131
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		120,075,000
Balance at Mar. 31, 2022	241,732	$ 12	(13,084)	220,449	9,119	24,993	241,489	243
Balance, shares at Mar. 31, 2022		123,190,000
Share-based compensation	3,108	$ 0	0	3,108	0	0	3,108	0
Distributions to non-controlling interests	(60)	0	0	0	0	0	0	(60)
Dividends on redeemable preferred stock	(1,434)	0	0	0	0	(1,434)	(1,434)	0
Dividends declared	(2,415)	0	0	0	0	(2,415)	(2,415)	0
Common stock repurchased	(26,954)	$ 0	(26,954)	0	0	0	(26,954)	0
Common stock repurchased, Shares		(3,115,000)
Net income	31,806	$ 0	0	0	0	31,754	31,754	52
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		120,075,000
Balance at Dec. 31, 2022	280,890	$ 12	(40,042)	229,995	9,119	81,750	280,834	56
Balance, shares at Dec. 31, 2022		120,074,000
Share-based compensation	8,624	$ 0	0	8,624	0	0	8,624	0
Transactions with non-controlling interests				(2)			(2)	2
Distributions to non-controlling interests	(120)	0	0	0	0	0	0	(120)
Dividends on redeemable preferred stock	(2,852)	0	0	0	0	(2,852)	(2,852)	0
Dividends declared	(7,216)	0	0	0	0	(7,216)	(7,216)	0
Common stock repurchased	(13,762)	$ 0	(13,762)	0	0	0	(13,762)	0
Common stock repurchased, Shares		(1,773,000)
Vesting and settlement of restricted share units, Shares		542,000
Vesting and settlement of restricted share units	0		0	0			0
Net income	11,952	$ 0	0	0	0	11,851	11,851	101
Balance at Jun. 30, 2023	277,516	$ 12	(53,804)	238,617	9,119	83,533	277,477	39
Balance, shares at Jun. 30, 2023		118,843,000
Balance at Mar. 31, 2023	275,035	$ 12	(42,352)	234,158	9,119	74,143	275,080	(45)
Balance, shares at Mar. 31, 2023		120,305,000
Share-based compensation	4,555	$ 0	0	4,555	0	0	4,555	0
Transactions with non-controlling interests	0	0	0	(96)	0	0	(96)	96
Distributions to non-controlling interests	(60)	0	0	0	0	0	0	(60)
Dividends on redeemable preferred stock	(1,434)	0	0	0	0	(1,434)	(1,434)	0
Dividends declared	(3,607)	0	0	0	0	(3,607)	(3,607)	0
Common stock repurchased	(11,452)	$ 0	(11,452)	0	0	0	(11,452)	0
Common stock repurchased, Shares		1,499,000
Vesting and settlement of restricted share units, Shares		37,000
Vesting and settlement of restricted share units			0	0	0	0	0
Net income	14,479	$ 0	0	0	0	14,431	14,431	48
Balance at Jun. 30, 2023	$ 277,516	$ 12	$ (53,804)	$ 238,617	$ 9,119	$ 83,533	$ 277,477	$ 39
Balance, shares at Jun. 30, 2023		118,843,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 11,952	$ 34,124
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	61,236	48,989
Deferred income taxes	(14,115)	2,671
Loss on disposal of assets and impairment charges	3,278	1,971
Foreign currency loss	58	228
Amortization of deferred financing costs and debt discount	1,213	1,262
Amortization of deferred income	(3,929)	(5,292)
Accretion of asset retirement obligation	1,118	829
Non-cash rent	6,558	3,737
Charges to allowance for credit losses	573	351
Loss (income) from equity investment	63	(37)
Share-based compensation	8,624	5,882
Fair value adjustment of financial assets and liabilities	(5,248)	(6,590)
Other operating activities, net	976	707
Changes in assets and liabilities:
Increase in trade receivables	(18,173)	(31,491)
Increase in inventory	(8,208)	(35,947)
(Increase) decrease in other assets	(10,965)	(7,607)
Increase in accounts payable	14,580	46,407
Decrease in other current liabilities	(7,651)	(11,324)
Increase (decrease) in asset retirement obligation	46	(34)
Increase in non-current liabilities	4,000	8,112
Net cash provided by operating activities	45,986	72,162
Cash flows from investing activities:
Purchase of property and equipment	(50,038)	(45,168)
Purchase of intangible assets	(35)	(125)
Proceeds from sale of property and equipment	296,485	7,261
Prepayment for business acquisition	0	(5,000)
Business acquisitions, net of cash	(481,636)	(6,853)
Decrease in investments, net	0	27,109
Repayment of loans to equity investment	0	174
Net cash used in investing activities	(235,224)	(22,602)
Cash flows from financing activities:
Receipt of long-term debt, net	74,233	0
Repayment of debt	(10,511)	(6,093)
Principal payments on financing leases	(2,912)	(3,304)
Proceeds from sale-leaseback	80,397	0
Payment of additional consideration	0	(2,085)
Payment of Ares Put Option	(9,808)	0
Common stock repurchased	(13,563)	(40,038)
Dividends paid on common stock	(7,216)	(4,889)
Dividends paid on redeemable preferred stock	(2,852)	(2,852)
Distributions to non-controlling interests	0	(120)
Net cash provided by (used in) financing activities	107,768	(59,381)
Net decrease in cash and cash equivalents and restricted cash	(81,470)	(9,821)
Effect of exchange rate on cash and cash equivalents and restricted cash	(21)	(121)
Cash and cash equivalents and restricted cash, beginning of period	316,769	272,543
Cash and cash equivalents and restricted cash, end of period	235,278	262,601
Reconciliation of cash and cash equivalents and restricted cash
Cash and cash equivalents, beginning of period	298,529	252,141
Restricted cash, beginning of period	18,240	20,402
Cash and cash equivalents, end of period	220,142	248,518
Restricted cash, end of period	15,136	14,083
Supplementary cash flow information:
Cash received for interest	4,274	107
Cash paid for interest	38,402	27,740
Cash received for taxes	512	78
Cash paid for taxes	20,845	4,797
Supplementary noncash activities:
Prepaid insurance premiums financed through notes payable	5,619	2,279
Purchases of equipment in accounts payable and accrued expenses	9,367	10,857
Purchase of property and equipment under leases	3,034	10,363
Disposals of leases of property and equipment	2,669	404
Deferred consideration related to business acquisition	$ 45,845	$ 0

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 14,431	$ 31,754	$ 11,851	$ 33,993

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

General

General	6 Months Ended
	Jun. 30, 2023
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 primarily 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. The Company is also engaged in wholesale activity, which includes the supply of fuel to gas stations operated by third parties, and 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 June 30, 2023, GPM’s activity included the operation of 1,547 retail convenience stores, the supply of fuel to 1,824 gas stations operated by dealers and the operation of 293 cardlock locations, throughout more than 30 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	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 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, 2022 (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 on 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. Cash and Cash Equivalents The Company considers all unrestricted highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents are maintained at several financial institutions, and in order to have sufficient working capital on hand, the Company maintains concentrations of cash in several financial institutions in amounts that are above the FDIC standard deposit insurance limit of $ 250,000 . 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 (e.g. 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 $ 307.2 million , $ 243.7 million , $ 571.5 million and $ 475.5 million for the three and six months ended June 30, 2023 and 2022, 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.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Transit Energy Group, LLC On March 1, 2023 , the Company completed the acquisition of certain assets from Transit Energy Group, LLC and certain of its affiliated entities (collectively, “TEG”) pursuant to a purchase agreement entered on September 9, 2022, as amended (the “TEG Purchase Agreement”), including (i) 135 Company-operated convenience stores and gas stations, (ii) fuel supply rights to 181 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 was approximately $ 370 million, as adjusted in accordance with the terms of the TEG Purchase Agreement, plus the value of inventory at the closing, of which $ 50 million was 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 TEG Purchase Agreement, at closing, ARKO and TEG entered into a registration rights agreement, pursuant to which ARKO agreed to prepare and file a registration statement with the SEC, registering the Installment Shares, if any, for resale by TEG. The Company paid approximately $ 81.7 million of the non-deferred purchase price including the value of inventory and other closing adjustments, of which $ 55.0 million was financed with the Capital One Line of Credit (as defined in Note 4 below). An affiliate of Oak Street Real Estate Capital Net Lease Property Fund, LP (including its affiliates, “Oak Street”), under the Company’s standby real estate purchase, designation and lease program agreement with Oak Street, dated as of May 3, 2021 (as amended, the “Program Agreement”), paid the balance of the non-deferred purchase price for fee simple ownership in 104 sites. At the closing, pursuant to the Program Agreement, the Company entered into a master lease with Oak Street for 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. Because the sale-leaseback was off-market, a financial liability of $ 51.6 million was recorded, resulting in interest expense recognized over the lease term. Additionally, right-of-use assets and operating lease liabilities of approximately $ 131.3 million were recorded in connection with the operating lease, after reducing for accounting purposes from the contractual lease payments the amount attributable to the repayment of the additional financing. The details of the TEG Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 26,702 GPMP Capital One Line of Credit 55,000 Liability resulting from deferred purchase price 45,845 Receivable from TEG ( 62 ) Consideration provided by Oak Street 258,019 Total consideration $ 385,504 Assets acquired and liabilities: Cash and cash equivalents $ 379 Inventory 20,259 Other assets 1,304 Property and equipment, net 268,879 Intangible assets 20,000 Right-of-use assets under operating leases 69,254 Environmental receivables 2,664 Deferred tax asset 19,135 Total assets 401,874 Other liabilities ( 2,087 ) Environmental liabilities ( 2,939 ) Asset retirement obligations ( 11,187 ) Operating leases ( 57,569 ) Total liabilities ( 73,782 ) Total identifiable net assets 328,092 Goodwill $ 57,412 Consideration paid in cash $ 81,702 Consideration provided by Oak Street 258,019 Less: cash and cash equivalent balances acquired ( 379 ) Net cash outflow $ 339,342 The initial accounting treatment of the TEG 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 TEG Acquisition, mainly due to the limited period of time between the TEG Acquisition closing date and the date of these interim financial statements. Therefore, some of the financial information presented with respect to the TEG Acquisition in these interim financial statements remains subject to change. The Company included identifiable tangible assets and identifiable liabilities at their respective fair values based on the information available to the Company’s management on the TEG Acquisition closing date, including, among other things, a preliminary valuation performed by external consultants for this purpose. The useful life of both the wholesale fuel supply contracts and the trade name was estimated at five years . As a result of the preliminary accounting treatment of the TEG Acquisition, the Company recorded goodwill of approximately $ 57.4 million , of which $ 55.0 million was allocated to the GPMP segment and the remainder to the retail segment, and attributable to the opportunities to expand into new geographic locations and add a significant amount of volume to the GPMP segment. None of the goodwill recognized is tax deductible for U.S. income tax purposes. Acquisition-related costs amounting to approximately $ 0.7 million and $ 2.9 million have been excluded from the consideration transferred and have been recognized as an expense within other expenses, net in the condensed consolidated statements of operations for the three and six months ended June 30, 2023 , respectively. No acquisition-related costs were recognized for the three and six months ended June 30, 2022. Results of operations for the TEG Acquisition for the period subsequent to the acquisition closing date were included in the condensed consolidated statement of operations for the three and six months ended June 30, 2023. For the period from the TEG Acquisition closing date through June 30, 2023, the Company recognized $ 317.1 million in revenues and $ 2.7 million of net loss related to the TEG Acquisition. For the three months ended June 30, 2023, the Company recognized $ 240.2 million in revenues and $ 2.7 million of net loss related to the TEG Acquisition. WTG Fuels Holdings, LLC On June 6, 2023 , certain of the Company’s subsidiaries completed the acquisition of certain assets from WTG Fuels Holdings, LLC and certain other sellers party thereto (collectively, “WTG”) pursuant to an asset purchase agreement entered on December 6, 2022, including (i) 24 company-operated Uncle’s convenience stores located across Western Texas, and (ii) 68 proprietary GASCARD-branded cardlock sites and 43 private cardlock sites for fleet fueling operations located in Western Texas and Southeastern New Mexico (the “WTG Acquisition”). The purchase price for the WTG Acquisition was approximately $ 140.0 million, plus the value of inventory at the closing. The Company paid approximately $ 29.9 million of the purchase price including the value of inventory and other closing adjustments, of which $ 19.2 million was financed with the Capital One Line of Credit (as defined in Note 4 below). Oak Street, under the Program Agreement, paid the balance of the purchase price for fee simple ownership in 33 properties. At the closing, pursuant to the Program Agreement, the Company entered into master leases with Oak Street for 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. Because the sale-leaseback was off-market, a financial liability of $ 28.8 million was recorded, resulting in interest expense recognized over the lease term. Additionally, right-of-use assets and operating lease liabilities of approximately $ 49.0 million were recorded in connection with the operating lease, after reducing for accounting purposes from the contractual lease payments the amount attributable to the repayment of the additional financing. The details of the WTG Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 10,653 GPMP Capital One Line of Credit 19,200 Payable to WTG 818 Consideration provided by Oak Street 115,041 Total consideration $ 145,712 Assets acquired and liabilities: Cash and cash equivalents $ 60 Inventory 5,694 Other assets 149 Property and equipment, net 128,396 Intangible assets 14,800 Right-of-use assets under operating leases 1,812 Environmental receivables 4 Total assets 150,915 Other liabilities ( 598 ) Environmental liabilities ( 136 ) Asset retirement obligations ( 2,730 ) Operating leases ( 1,739 ) Total liabilities ( 5,203 ) Total identifiable net assets 145,712 Goodwill $ — Consideration paid in cash $ 29,853 Consideration provided by Oak Street 115,041 Less: cash and cash equivalent balances acquired ( 60 ) Net cash outflow $ 144,834 The initial accounting treatment of the WTG 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 WTG Acquisition, mainly due to the limited period of time between the WTG Acquisition closing date and the date of these interim financial statements. Therefore, some of the financial information presented with respect to the WTG Acquisition in these interim financial statements remains subject to change. The Company included identifiable tangible assets and identifiable liabilities at their respective fair values based on the information available to the Company’s management on the WTG Acquisition closing date, including, among other things, a preliminary valuation performed by management. The useful life of the contracts related to the third-party cardlock sites, the customer relationships related to the proprietary cardlock sites and the proprietary fuel cards, the wholesale fuel supply contracts and the trade name was each estimated at five years . The Company’s preliminary accounting treatment of the WTG Acquisition resulted in no goodwill being recorded. Acquisition-related costs amounting to approximately $ 1.8 million and $ 2.1 million have been excluded from the consideration transferred and have been recognized as an expense within other expenses, net in the condensed consolidated statements of operations for the three and six months ended June 30, 2023 , respectively. No acquisition-related costs were recognized for the three and six months ended June 30, 2022. Results of operations for the WTG Acquisition for the period subsequent to the acquisition closing date were included in the condensed consolidated statement of operations for the three and six months ended June 30, 2023. For the period from the WTG Acquisition closing date through June 30, 2023, the Company recognized $ 14.9 million in revenues and $ 0.2 million of net income related to the WTG Acquisition. Pride Convenience Holdings, LLC On December 6, 2022, the Company acquired all of the issued and outstanding membership interests in Pride Convenience Holdings, LLC, which operated at closing 31 convenience stores and gas stations in Connecticut and Massachusetts (the “Pride Acquisition”). In the second quarter of 2023, the Company updated the initial accounting treatment of the Pride Acquisition, including the valuation of some of the assets acquired, liabilities assumed and the goodwill resulting from the acquisition. As a result, the Company primarily reduced property and equipment by approximately $ 4.7 million, increased accounts payable and other liabilities by a net $ 1.0 million, and increased the deferred tax asset by approximately $ 1.0 million. The adjustments to the assets acquired and liabilities assumed resulted in an increase in goodwill of approximately $ 3.1 million, of which $ 0.4 million was allocated to the GPMP segment and the remainder was allocated to the retail segment attributable to the opportunities to expand into new geographic locations. These adjustments resulted in a reduction in depreciation and amortization expenses recorded, approximately $ 0.2 million that related to amounts recorded for the year ended December 31, 2022 and approximately $ 0.6 million that related to the three months ended March 31, 2023. Impact of Acquisitions (unaudited) The unaudited supplemental pro forma financial information presented below 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 WTG Acquisition, the TEG Acquisition, the Pride Acquisition and the acquisition of 184 Quarles cardlock sites and 46 dealer locations on July 22, 2022 (the “Quarles Acquisition”) 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 Six Months 2023 2022 (unaudited) (in thousands) Total revenue $ 4,969,737 $ 5,938,441 Net income 10,398 36,523

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	4. Debt The components of debt were as follows: June 30, December 31, (in thousands) Senior Notes $ 444,033 $ 443,648 M&T debt 44,380 49,023 Capital One line of credit 331,303 256,430 Insurance premium notes 3,955 2,886 Total debt, net $ 823,671 $ 751,987 Less current portion ( 13,369 ) ( 11,944 ) Total long-term debt, net $ 810,302 $ 740,043 On May 5, 2023, GPM Petroleum LP (“GPMP”) renewed the credit agreement governing its revolving credit facility with a syndicate of banks led by Capital One, National Association, to increase the aggregate principal amount of availability thereunder from $ 500 million to $ 800 million (as amended, the “Capital One Line of Credit”) and extend the maturity date from July 15, 2024 to May 5, 2028. At GPMP’s request, availability under the Capital One Line of Credit can be increased up to $ 1.0 billion, subject to obtaining additional financing commitments from current lenders or from other banks, and subject to certain other terms as detailed in the Capital One Line of Credit.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	5. Leases As of June 30, 2023 , the Company leased 1,278 of the convenience stores that it operates, 209 dealer locations, 157 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 Six Months 2023 2022 2023 2022 (in thousands) Finance lease cost: Depreciation of right-of-use assets $ 2,785 $ 3,037 $ 5,638 $ 6,084 Interest on lease liabilities 4,142 4,260 8,304 8,631 Operating lease costs included in store operating expenses 45,752 34,358 87,336 68,653 Operating lease costs included in general and administrative 587 351 1,121 738 Lease cost related to variable lease payments, short-term 711 569 1,401 1,213 Right-of-use asset impairment charges and loss (gain) on 1,994 — 1,454 — Total lease costs $ 55,971 $ 42,575 $ 105,254 $ 85,319 Supplemental balance sheet date related to leases was as follows: June 30, December 31, (in thousands) Operating leases Weighted average remaining lease term (in years) 14.4 14.1 Weighted average discount rate 7.8 % 7.7 % Financing leases Weighted average remaining lease term (in years) 23.1 23.4 Weighted average discount rate 7.2 % 7.2 % As of June 30, 2023 , maturities of lease liabilities for operating lease obligations and financing 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) July 2023 through June 2024 $ 174,609 $ 21,279 July 2024 through June 2025 176,244 21,046 July 2025 through June 2026 176,841 20,914 July 2026 through June 2027 174,535 20,772 July 2027 through June 2028 171,421 20,860 Thereafter 1,688,912 414,378 Gross lease payments $ 2,562,562 $ 519,249 Less: imputed interest ( 1,076,015 ) ( 290,462 ) Total lease liabilities $ 1,486,547 $ 228,787

Financial Derivative Instrument

Financial Derivative Instruments	6 Months Ended
	Jun. 30, 2023
Financial Derivative Instruments [Abstract]
Financial Derivative Instruments	6. Financial Derivative Instruments 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 June 30, 2023, the Company had fuel futures contracts in place to hedge approximately 3.2 million gallons of diesel fuel for which the Company had a firm commitment to purchase. As of June 30, 2023 and December 31, 2022, the Company had asset derivatives with fair values of approximately $ 0.2 million and $ 0.5 million , respectively, recorded in other current assets and firm commitments with fair values of approximately $ 0.2 million and $ 0.5 million , respectively, recorded in other current liabilities on the condensed consolidated balance sheets. As of June 30, 2023 and December 31, 2022, there was $ 0.2 million and $ 0.5 million , respectively, of 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 statements of cash flows.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	7. Equity The Company’s board of directors (the “Board”) declared and the Company paid a quarterly dividend of $ 0.03 per share of common stock on March 21, 2023 and on June 1, 2023, totaling $ 3.6 million each. 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 aggregate amount of dividends paid on the common stock through June 30, 2023, the conversion price of the Company’ s Series A convertible preferred stock has been adjusted from $ 12.00 to $ 11.85 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 September 1, 2023 to stockholders of record as of August 15, 2023. In February 2022, the Board authorized a share repurchase program for up to an aggregate of $ 50 million of outstanding shares of common stock and in May 2023, the Board increased the size of the share repurchase program to $ 100.0 million. The share repurchase program does not have an expiration date. In the three and six months ended June 30, 2023, the Company repurchased approximately 1.5 million and 1.6 million shares of common stock, respectively, under the repurchase program for approximately $ 11.2 million and $ 11.9 million , or an average share price of $ 7.55 and $ 7.57 , respectively.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
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. Stock Options The following table summarizes share activity related to stock options: Stock Options Weighted Average Exercise Price Weighted Average Fair Value Remaining Average Contractual Term (Years) Aggregate Intrinsic Value (in thousands) (in thousands) Options Outstanding, December 31, 2022 897 $ 9.24 9.0 $ 77 Granted 409 8.58 3.27 Options Outstanding, June 30, 2023 1,306 $ 9.03 8.9 $ — The aggregate intrinsic value is the difference between the exercise price and the closing price of the Company’s common stock on June 30, 2023 and December 31, 2022. In the six months ended June 30, 2023 , 352 thousand stock options vested. As of June 30, 2023, total unrecognized compensation cost related to unvested stock options was approximately $ 2.3 million , which is expected to be recognized over a weighted average period of approximately 2.0 years. 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 six months ended June 30, 2023: Expected dividend rate 1.4 % Expected stock price volatility 28.8 % Risk-free interest rate 4.0 % Expected term of options (years) 10.0 The expected stock price volatility is based on the historical volatility of the Company’s stock price plus the Company’s peer group’s stock price for the period prior to the Company’s listing on Nasdaq. 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. Restricted Stock Units The following table summarizes share activity related to RSUs: Restricted Stock Units Weighted Average Grant Date Fair Value (in thousands) Nonvested RSUs, December 31, 2022 3,115 $ 8.90 Granted 1,676 8.49 Released ( 615 ) 9.00 Forfeited ( 37 ) 9.22 Performance-based share adjustment 144 8.13 Nonvested RSUs, June 30, 2023 4,283 $ 8.70 In the six months ended June 30, 2023, 110,390 RSUs were issued to non-employee directors. These awards are included in the table above under restricted stock units. There were 272,476 and 198,170 RSUs issued to non-employee directors outstanding as of June 30, 2023 and December 31, 2022, respectively. The fair value of RSUs released during the six months ended June 30, 2023 was $ 5.3 million. In the six months ended June 30, 2023, the Company granted a target of 1,097,740 performance-based RSUs (“PSUs”). The PSUs were awarded to certain members of senior management and provide for cliff vesting, generally at the end of a three-year period, subject to the achievement of specific key financial metrics measured over such period. The number of PSUs that will ultimately vest is contingent upon the achievement of these key financial metrics at the end of the relevant performance period. The Company assesses the probability of achieving these metrics on a quarterly basis. Given the Company’s strong performance in 2022, in the first quarter of 2023, the Compensation Committee of the Board approved the adjustment of the performance criteria for 2022 such that the percentage of PSUs that vest with respect to the target amount for 2022 would be 125 % instead of 100 % and would be applied to all PSUs granted as part of the 2021 and 2022 long-term incentives. As a result, the number of PSUs was adjusted for the probability of achieving these metrics, resulting in additional expense of $ 0.1 million being recorded in the first quarter of 2023, based on the fair value at the adjustment approval date. For PSUs with market conditions, the Company recognizes the fair value expense ratably over the performance and vesting period. As of June 30, 2023, total unrecognized compensation cost related to RSUs and PSUs was approximately $ 23.1 million , which is expected to be recognized over a weighted average period of approximately 1.9 years. Compensation Cost Total compensation cost recorded collectively for employees, non-employees and members of the Board for the three and six months ended June 30, 2023 and 2022 was $ 4.6 million , $ 3.1 million, $ 8.6 million and $ 5.9 million, respectively, and included in general and administrative expenses on the condensed consolidated statements of operations.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2023
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 Six Months 2023 2022 2023 2022 (in thousands) Net income available to common stockholders $ 12,997 $ 30,320 $ 8,999 $ 31,141 Dividends on redeemable preferred stock — 1,434 — — Net income available to common stockholders after assumed $ 12,997 $ 31,754 $ 8,999 $ 31,141 Weighted average common shares outstanding — Basic 119,893 121,529 120,073 122,909 Effect of dilutive securities: Restricted share units 1,387 668 694 336 Redeemable preferred stock — 8,361 — — Weighted average common shares outstanding — Diluted 121,280 130,558 120,767 123,245 Net income per share available to common stockholders $ 0.11 $ 0.25 $ 0.07 $ 0.25 Net income per share available to common stockholders $ 0.11 $ 0.24 $ 0.07 $ 0.25 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 June 30, 2023 2022 (in thousands) Stock options 1,306 897 Ares warrants 1,100 1,100 Public and Private warrants 17,333 17,333 Series A redeemable preferred stock 8,439 — Ares Put Option * * * Refer to the description of this instrument in Note 10. The effect of the potential shares of common stock issuable upon conversion of the redeemable preferred stock was antidilutive for the three months ended June 30, 2023 and the six months ended June 30, 2023 and 2022 , 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	6 Months Ended
	Jun. 30, 2023
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, short-term investments, trade receivables, accounts payable and other current liabilities approximated their carrying values as of June 30, 2023 and December 31, 2022 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 June 30, 2023 and December 31, 2022 (Level 1 fair value measurement), the fair value of the Senior Notes was estimated at approximately $ 367.0 million and $ 354.7 million , respectively, compared to a gross carrying value of $ 450 million at June 30, 2023 and December 31, 2022. The fair value of the other long-term debt approximated their carrying values as of June 30, 2023 and December 31, 2022 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 $ 2.2 million and $ 3.7 million as of June 30, 2023 and December 31, 2022, 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 , $( 0.5 ) million , $ 0.2 million and $( 0.4 ) million were recorded as components 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 six months ended June 30, 2023 and 2022, respectively, and approximately $ 0.9 million , $ 0.5 million , $ 1.6 million and $ 0.5 million of income were recorded as components of other expenses, net in the condensed consolidated statements of operations for the three and six months ended June 30, 2023 and 2022, respectively. The public warrants to purchase the Company’s common stock (the “Public Warrants”), of which approximately 14.8 million were outstanding as of June 30, 2023, are measured at fair value at the end of each reporting period and amounted to $ 22.1 million and $ 25.9 million as of June 30, 2023 and December 31, 2022, respectively. The fair value methodology for the Public Warrants is categorized as Level 1. Approximately $ 0 , $ 7.1 million , $ 3.8 million and $ 5.2 million were recorded as components of interest and other financial income in the condensed consolidated statements of operations for the change in the fair value of the Public Warrants for the three and six months ended June 30, 2023 and 2022, respectively. The private warrants to purchase the Company’s common stock (the “Private Warrants”), of which approximately 2.5 million were outstanding as of June 30, 2023, are measured at fair value at the end of each reporting period and amounted to $ 3.4 million and $ 4.5 million as of June 30, 2023 and December 31, 2022 , 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: June 30, Expected term (in years) 2.5 Expected dividend rate 1.5 % Volatility 44.5 % Risk-free interest rate 4.7 % Strike price $ 11.50 For the change in the fair value of the Private Warrants, approximately $ 0.1 million , $ 1.2 million , $ 1.1 million and $ 0.9 million were recorded as components of interest and other financial income in the condensed consolidated statements of operations for the three and six months ended June 30, 2023 and 2022, 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 $ 1.3 million and $ 1.4 million as of June 30, 2023 and December 31, 2022 , respectively. 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: June 30, Expected term (in years) 3.9 Volatility 36.2 % Risk-free interest rate 4.3 % Stock price $ 7.95 Approximately $ 0.1 million , $ 0.2 million , $ 0.1 million and $ 0.2 million were recorded as components of interest and other financial income in the condensed consolidated statements of operations for the change in the fair value of the Deferred Shares for the three and six months ended June 30, 2023 and 2022, respectively. The Company entered into an agreement with Ares Capital Corporation (“Ares”) and certain of its affiliates (the “Ares Put Option”), which guaranteed 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 Shares”). The Company and Ares agreed that in lieu of the Company issuing to Ares additional shares of common stock in accordance with the Ares Put Option or purchasing the Ares Shares, Ares would retain the Ares Shares, and the Company would pay approximately $ 9.8 million in cash to Ares in full satisfaction of the Company’s obligations related to the Ares Put Option. This payment was made on April 14, 2023 and the Ares Put Option agreement was terminated. The Ares Put Option was measured at fair value at the end of each reporting period and amounted to $ 8.6 million as of December 31, 2022. Approximately $ 0 , $ 1.6 million, $ 1.2 million and $ 0.5 million were recorded as components of interest and other financial expenses in the condensed consolidated statements of operations for the change in the fair value of the Ares Put Option for the three and six months ended June 30, 2023 and 2022 , respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
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 the Company’s 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 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 dealers. The fleet fueling segment 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 GPMP and primarily includes its sale and supply of fuel to GPM and its subsidiaries related to substantially all of its sites 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), and charges a fixed fee to sites in the fleet fueling segment and certain Company sites which are not supplied by GPMP (currently 5.0 cents per gallon sold). GPMP also supplies fuel to a small number of 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 U.S. and substantially all of the Company’s assets were within the U.S. Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and substantially all of its sites 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 June 30, 2023 (in thousands) Revenues Fuel revenue $ 1,015,365 $ 811,139 $ 121,146 $ 1,057 $ 8,393 $ 1,957,100 Merchandise revenue 484,561 — — — — 484,561 Other revenues, net 18,997 6,110 1,676 277 420 27,480 Total revenues from external 1,518,923 817,249 122,822 1,334 8,813 2,469,141 Inter-segment — — — 1,366,786 4,545 1,371,331 Total revenues from reportable 1,518,923 817,249 122,822 1,368,120 13,358 3,840,472 Operating income 77,857 6,767 9,344 27,008 138 121,114 Interest and financial expenses, net ( 6,840 ) — ( 6,840 ) Loss from equity investment ( 27 ) ( 27 ) Net income from reportable segments $ 114,247 Retail Wholesale GPMP All Other Total For the Three Months Ended June 30, 2022 (in thousands) Revenues Fuel revenue $ 1,117,849 $ 966,434 $ 1,571 $ — $ 2,085,854 Merchandise revenue 431,751 — — — 431,751 Other revenues, net 16,667 5,733 258 — 22,658 Total revenues from external customers 1,566,267 972,167 1,829 — 2,540,263 Inter-segment — — 1,738,243 302 1,738,545 Total revenues from reportable 1,566,267 972,167 1,740,072 302 4,278,808 Operating income 71,847 9,786 21,799 302 103,734 Interest and financial expenses, net ( 1,819 ) — ( 1,819 ) Income from equity investment 28 28 Net income from reportable segments $ 101,943 Retail Wholesale Fleet Fueling GPMP All Other Total For the Six Months Ended June 30, 2023 (in thousands) Revenues Fuel revenue $ 1,858,838 $ 1,495,987 $ 248,640 $ 1,798 $ 13,501 $ 3,618,764 Merchandise revenue 884,849 — — — — 884,849 Other revenues, net 37,552 12,601 2,627 447 677 53,904 Total revenues from external 2,781,239 1,508,588 251,267 2,245 14,178 4,557,517 Inter-segment — — — 2,509,408 7,603 2,517,011 Total revenues from reportable 2,781,239 1,508,588 251,267 2,511,653 21,781 7,074,528 Operating income 119,488 14,317 17,768 49,630 462 201,665 Interest and financial expenses, net ( 12,090 ) — ( 12,090 ) Loss from equity investment ( 63 ) ( 63 ) Net income from reportable segments $ 189,512 Retail Wholesale GPMP All Other Total For the Six Months Ended June 30, 2022 (in thousands) Revenues Fuel revenue $ 1,972,516 $ 1,694,131 $ 2,733 $ — $ 3,669,380 Merchandise revenue 798,736 — — — 798,736 Other revenues, net 32,991 11,455 512 — 44,958 Total revenues from external customers 2,804,243 1,705,586 3,245 — 4,513,074 Inter-segment — — 3,013,964 604 3,014,568 Total revenues from reportable 2,804,243 1,705,586 3,017,209 604 7,527,642 Operating income 117,526 17,199 42,406 604 177,735 Interest and financial expenses, net ( 4,264 ) — ( 4,264 ) Income tax benefit 177 177 Income from equity investment 37 37 Net income from reportable segments $ 173,685 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 Six Months 2023 2022 2023 2022 (in thousands) Total revenues from reportable segments $ 3,840,472 $ 4,278,808 $ 7,074,528 $ 7,527,642 Elimination of inter-segment revenues ( 1,371,331 ) ( 1,738,545 ) ( 2,517,011 ) ( 3,014,568 ) Total revenues $ 2,469,141 $ 2,540,263 $ 4,557,517 $ 4,513,074 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 Six Months 2023 2022 2023 2022 (in thousands) Net income from reportable segments $ 114,247 $ 101,943 $ 189,512 $ 173,685 Amounts not allocated to segments: Store operating expenses ( 3,604 ) 747 ( 6,281 ) 1,331 General and administrative expenses ( 41,879 ) ( 32,197 ) ( 81,523 ) ( 63,276 ) Depreciation and amortization ( 30,995 ) ( 22,511 ) ( 57,552 ) ( 45,305 ) Other expenses, net ( 4,956 ) ( 1,197 ) ( 7,676 ) ( 2,318 ) Interest and other financial expenses, net ( 13,320 ) ( 5,822 ) ( 21,672 ) ( 19,654 ) Income tax expense ( 5,014 ) ( 9,157 ) ( 2,856 ) ( 10,339 ) Net income $ 14,479 $ 31,806 $ 11,952 $ 34,124

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. 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 dealers. As of June 30, 2023 and December 31, 2022, environmental obligations totaled $ 14.5 million and $ 12.1 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 $ 7.8 million and $ 4.9 million as of June 30, 2023 and December 31, 2022, respectively, and were recorded as other current and non-current assets in the condensed consolidated balance sheets. Asset Retirement Obligation As part of the fuel operations at its operated convenience stores, at most of the other owned and leased locations leased to dealers, certain other dealer locations and proprietary cardlock locations, there are aboveground and underground storage tanks for which the Company is responsible. The future cost to remove a storage tank is recognized over the estimated remaining useful life of the 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 a storage tank is installed. The estimated liability is based upon historical experience in removing 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 $ 80.4 million and $ 65.3 million at June 30, 2023 and December 31, 2022, respectively. The current portion of the asset retirement obligation is included in other current liabilities in the condensed consolidated balance sheets. Program Agreement On May 2, 2023, GPM, together with Oak Street, entered into a third amendment to the Program Agreement, which, among other things, (i) extended the term of the Program Agreement and the exclusivity period thereunder through September 30, 2024 and (ii) provides for up to $ 1.5 billion of capacity under the Program Agreement from the date of the third amendment through September 30, 2024, not including the funding for the WTG Acquisition. 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	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	13. 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)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 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, 2022 (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 on 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all unrestricted highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents are maintained at several financial institutions, and in order to have sufficient working capital on hand, the Company maintains concentrations of cash in several financial institutions in amounts that are above the FDIC standard deposit insurance limit of $ 250,000 .
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 (e.g. 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 $ 307.2 million , $ 243.7 million , $ 571.5 million and $ 475.5 million for the three and six months ended June 30, 2023 and 2022, 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.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months 2023 2022 (unaudited) (in thousands) Total revenue $ 4,969,737 $ 5,938,441 Net income 10,398 36,523
Transit Energy Group [Member]
Business Acquisition [Line Items]
Summary of Details of Business Combination	The details of the TEG Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 26,702 GPMP Capital One Line of Credit 55,000 Liability resulting from deferred purchase price 45,845 Receivable from TEG ( 62 ) Consideration provided by Oak Street 258,019 Total consideration $ 385,504 Assets acquired and liabilities: Cash and cash equivalents $ 379 Inventory 20,259 Other assets 1,304 Property and equipment, net 268,879 Intangible assets 20,000 Right-of-use assets under operating leases 69,254 Environmental receivables 2,664 Deferred tax asset 19,135 Total assets 401,874 Other liabilities ( 2,087 ) Environmental liabilities ( 2,939 ) Asset retirement obligations ( 11,187 ) Operating leases ( 57,569 ) Total liabilities ( 73,782 ) Total identifiable net assets 328,092 Goodwill $ 57,412 Consideration paid in cash $ 81,702 Consideration provided by Oak Street 258,019 Less: cash and cash equivalent balances acquired ( 379 ) Net cash outflow $ 339,342
WTG Fuels Holdings [Member]
Business Acquisition [Line Items]
Summary of Details of Business Combination	The details of the WTG Acquisition were as follows: Amount (in thousands) Fair value of consideration transferred: Cash $ 10,653 GPMP Capital One Line of Credit 19,200 Payable to WTG 818 Consideration provided by Oak Street 115,041 Total consideration $ 145,712 Assets acquired and liabilities: Cash and cash equivalents $ 60 Inventory 5,694 Other assets 149 Property and equipment, net 128,396 Intangible assets 14,800 Right-of-use assets under operating leases 1,812 Environmental receivables 4 Total assets 150,915 Other liabilities ( 598 ) Environmental liabilities ( 136 ) Asset retirement obligations ( 2,730 ) Operating leases ( 1,739 ) Total liabilities ( 5,203 ) Total identifiable net assets 145,712 Goodwill $ — Consideration paid in cash $ 29,853 Consideration provided by Oak Street 115,041 Less: cash and cash equivalent balances acquired ( 60 ) Net cash outflow $ 144,834

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The components of debt were as follows: June 30, December 31, (in thousands) Senior Notes $ 444,033 $ 443,648 M&T debt 44,380 49,023 Capital One line of credit 331,303 256,430 Insurance premium notes 3,955 2,886 Total debt, net $ 823,671 $ 751,987 Less current portion ( 13,369 ) ( 11,944 ) Total long-term debt, net $ 810,302 $ 740,043

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months 2023 2022 2023 2022 (in thousands) Finance lease cost: Depreciation of right-of-use assets $ 2,785 $ 3,037 $ 5,638 $ 6,084 Interest on lease liabilities 4,142 4,260 8,304 8,631 Operating lease costs included in store operating expenses 45,752 34,358 87,336 68,653 Operating lease costs included in general and administrative 587 351 1,121 738 Lease cost related to variable lease payments, short-term 711 569 1,401 1,213 Right-of-use asset impairment charges and loss (gain) on 1,994 — 1,454 — Total lease costs $ 55,971 $ 42,575 $ 105,254 $ 85,319
Summary of supplemental balance sheet date related to leases	Supplemental balance sheet date related to leases was as follows: June 30, December 31, (in thousands) Operating leases Weighted average remaining lease term (in years) 14.4 14.1 Weighted average discount rate 7.8 % 7.7 % Financing leases Weighted average remaining lease term (in years) 23.1 23.4 Weighted average discount rate 7.2 % 7.2 %
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) July 2023 through June 2024 $ 174,609 $ 21,279 July 2024 through June 2025 176,244 21,046 July 2025 through June 2026 176,841 20,914 July 2026 through June 2027 174,535 20,772 July 2027 through June 2028 171,421 20,860 Thereafter 1,688,912 414,378 Gross lease payments $ 2,562,562 $ 519,249 Less: imputed interest ( 1,076,015 ) ( 290,462 ) Total lease liabilities $ 1,486,547 $ 228,787

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Options	The following table summarizes share activity related to stock options: Stock Options Weighted Average Exercise Price Weighted Average Fair Value Remaining Average Contractual Term (Years) Aggregate Intrinsic Value (in thousands) (in thousands) Options Outstanding, December 31, 2022 897 $ 9.24 9.0 $ 77 Granted 409 8.58 3.27 Options Outstanding, June 30, 2023 1,306 $ 9.03 8.9 $ —
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 six months ended June 30, 2023: Expected dividend rate 1.4 % Expected stock price volatility 28.8 % Risk-free interest rate 4.0 % Expected term of options (years) 10.0
Schedule of Restricted Stock Units Activity	The following table summarizes share activity related to RSUs: Restricted Stock Units Weighted Average Grant Date Fair Value (in thousands) Nonvested RSUs, December 31, 2022 3,115 $ 8.90 Granted 1,676 8.49 Released ( 615 ) 9.00 Forfeited ( 37 ) 9.22 Performance-based share adjustment 144 8.13 Nonvested RSUs, June 30, 2023 4,283 $ 8.70

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months 2023 2022 2023 2022 (in thousands) Net income available to common stockholders $ 12,997 $ 30,320 $ 8,999 $ 31,141 Dividends on redeemable preferred stock — 1,434 — — Net income available to common stockholders after assumed $ 12,997 $ 31,754 $ 8,999 $ 31,141 Weighted average common shares outstanding — Basic 119,893 121,529 120,073 122,909 Effect of dilutive securities: Restricted share units 1,387 668 694 336 Redeemable preferred stock — 8,361 — — Weighted average common shares outstanding — Diluted 121,280 130,558 120,767 123,245 Net income per share available to common stockholders $ 0.11 $ 0.25 $ 0.07 $ 0.25 Net income per share available to common stockholders $ 0.11 $ 0.24 $ 0.07 $ 0.25
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 June 30, 2023 2022 (in thousands) Stock options 1,306 897 Ares warrants 1,100 1,100 Public and Private warrants 17,333 17,333 Series A redeemable preferred stock 8,439 — Ares Put Option * *

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Private Warrants [Member]
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: June 30, Expected term (in years) 2.5 Expected dividend rate 1.5 % Volatility 44.5 % Risk-free interest rate 4.7 % Strike price $ 11.50
Deferred Shares [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Fair Value Measurement Inputs and Valuation Techniques	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: June 30, Expected term (in years) 3.9 Volatility 36.2 % Risk-free interest rate 4.3 % Stock price $ 7.95

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Reportable Segments	Inter-segment transactions primarily included the distribution of fuel by GPMP to GPM and substantially all of its sites 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 June 30, 2023 (in thousands) Revenues Fuel revenue $ 1,015,365 $ 811,139 $ 121,146 $ 1,057 $ 8,393 $ 1,957,100 Merchandise revenue 484,561 — — — — 484,561 Other revenues, net 18,997 6,110 1,676 277 420 27,480 Total revenues from external 1,518,923 817,249 122,822 1,334 8,813 2,469,141 Inter-segment — — — 1,366,786 4,545 1,371,331 Total revenues from reportable 1,518,923 817,249 122,822 1,368,120 13,358 3,840,472 Operating income 77,857 6,767 9,344 27,008 138 121,114 Interest and financial expenses, net ( 6,840 ) — ( 6,840 ) Loss from equity investment ( 27 ) ( 27 ) Net income from reportable segments $ 114,247 Retail Wholesale GPMP All Other Total For the Three Months Ended June 30, 2022 (in thousands) Revenues Fuel revenue $ 1,117,849 $ 966,434 $ 1,571 $ — $ 2,085,854 Merchandise revenue 431,751 — — — 431,751 Other revenues, net 16,667 5,733 258 — 22,658 Total revenues from external customers 1,566,267 972,167 1,829 — 2,540,263 Inter-segment — — 1,738,243 302 1,738,545 Total revenues from reportable 1,566,267 972,167 1,740,072 302 4,278,808 Operating income 71,847 9,786 21,799 302 103,734 Interest and financial expenses, net ( 1,819 ) — ( 1,819 ) Income from equity investment 28 28 Net income from reportable segments $ 101,943 Retail Wholesale Fleet Fueling GPMP All Other Total For the Six Months Ended June 30, 2023 (in thousands) Revenues Fuel revenue $ 1,858,838 $ 1,495,987 $ 248,640 $ 1,798 $ 13,501 $ 3,618,764 Merchandise revenue 884,849 — — — — 884,849 Other revenues, net 37,552 12,601 2,627 447 677 53,904 Total revenues from external 2,781,239 1,508,588 251,267 2,245 14,178 4,557,517 Inter-segment — — — 2,509,408 7,603 2,517,011 Total revenues from reportable 2,781,239 1,508,588 251,267 2,511,653 21,781 7,074,528 Operating income 119,488 14,317 17,768 49,630 462 201,665 Interest and financial expenses, net ( 12,090 ) — ( 12,090 ) Loss from equity investment ( 63 ) ( 63 ) Net income from reportable segments $ 189,512 Retail Wholesale GPMP All Other Total For the Six Months Ended June 30, 2022 (in thousands) Revenues Fuel revenue $ 1,972,516 $ 1,694,131 $ 2,733 $ — $ 3,669,380 Merchandise revenue 798,736 — — — 798,736 Other revenues, net 32,991 11,455 512 — 44,958 Total revenues from external customers 2,804,243 1,705,586 3,245 — 4,513,074 Inter-segment — — 3,013,964 604 3,014,568 Total revenues from reportable 2,804,243 1,705,586 3,017,209 604 7,527,642 Operating income 117,526 17,199 42,406 604 177,735 Interest and financial expenses, net ( 4,264 ) — ( 4,264 ) Income tax benefit 177 177 Income from equity investment 37 37 Net income from reportable segments $ 173,685
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 Six Months 2023 2022 2023 2022 (in thousands) Total revenues from reportable segments $ 3,840,472 $ 4,278,808 $ 7,074,528 $ 7,527,642 Elimination of inter-segment revenues ( 1,371,331 ) ( 1,738,545 ) ( 2,517,011 ) ( 3,014,568 ) Total revenues $ 2,469,141 $ 2,540,263 $ 4,557,517 $ 4,513,074
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 Six Months 2023 2022 2023 2022 (in thousands) Net income from reportable segments $ 114,247 $ 101,943 $ 189,512 $ 173,685 Amounts not allocated to segments: Store operating expenses ( 3,604 ) 747 ( 6,281 ) 1,331 General and administrative expenses ( 41,879 ) ( 32,197 ) ( 81,523 ) ( 63,276 ) Depreciation and amortization ( 30,995 ) ( 22,511 ) ( 57,552 ) ( 45,305 ) Other expenses, net ( 4,956 ) ( 1,197 ) ( 7,676 ) ( 2,318 ) Interest and other financial expenses, net ( 13,320 ) ( 5,822 ) ( 21,672 ) ( 19,654 ) Income tax expense ( 5,014 ) ( 9,157 ) ( 2,856 ) ( 10,339 ) Net income $ 14,479 $ 31,806 $ 11,952 $ 34,124

General - Additional Informatio

General - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 Sites States $ / shares	Dec. 31, 2022 $ / shares
General [Abstract]
Number of self operated sites	1,547
Number of Sites Operated By External Operators (dealers)	1,824
Number of cardlock sites	293
Number of states | States	30
Common stock par value | $ / shares	$ 0.0001	$ 0.0001

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
FDIC amount	$ 250,000		$ 250,000
Contract cost, amortization period	1 year		1 year
Fuel revenue and fuel costs included fuel taxes	$ 307,200	$ 243,700	$ 571,500	$ 475,500

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands				3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 06, 2023 USD ($) Sites Store	Mar. 01, 2023 USD ($) Sites	Dec. 06, 2022 USD ($) StoresAndGasStation	Jun. 30, 2023 USD ($) Store Dealer	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Store Dealer	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jul. 22, 2022 Dealer Cardlock
Business Acquisition [Line Items]
Number of sites leased | Sites		104
Goodwill				$ 277,795			$ 277,795		$ 217,297
Number of convenience stores | Store	24
Number of cardlock sites acquired | Cardlock										184
Number Of Dealer Locations Acquired | Dealer										46
Deferred tax asset		$ 19,135
Oak Street [Member]
Business Acquisition [Line Items]
Number of sites leased | Sites	33
Right-of-use assets under operating leases	$ 49,000	131,300
Financial Liability	$ 28,800	$ 51,600
Transit Energy Group [Member]
Business Acquisition [Line Items]
Date of acquisition agreement		Mar. 01, 2023
Goodwill		$ 57,412		57,400			57,400
Right-of-use assets under operating leases		69,254
Acquisition related cost recognized as other (income) expenses				700			2,900
Consideration paid in cash		385,504				$ 0		$ 0
Revenue through closing date of acquisition till period end date				240,200			317,100
Net loss through acquisition date till period end date				$ 2,700			$ 2,700
Number of convenience stores | Store				135			135
Number of dealer locations to be acquired | Dealer				181			181
Business combination purchase price		370,000
Deferred consideration		50,000
Deferred consideration annual installment amount		25,000
Business Combination Non Deferred Consideration		81,700
Business combination liabilities incurred		55,000
Property and equipment		268,879
Other liabilities		2,087
Transit Energy Group [Member] | Wholesale Fuel Supply Contracts
Business Acquisition [Line Items]
Useful life of the contracts							5 years
Transit Energy Group [Member] | Brand Name [Member]
Business Acquisition [Line Items]
Useful life of the contracts							5 years
WTG Fuels Holdings [Member]
Business Acquisition [Line Items]
Date of acquisition agreement	Jun. 06, 2023
Business combination number of private cardlocksites acquired | Sites	43
Goodwill	$ 0
Right-of-use assets under operating leases	1,812
Acquisition related cost recognized as other (income) expenses				$ 1,800			$ 2,100
Consideration paid in cash	145,712					$ 0		$ 0
Revenue through closing date of acquisition till period end date							14,900
Net loss through acquisition date till period end date							$ 200
Business combination purchase price, plus value of inventory	140,000
Business combination liabilities incurred	19,200
Business combination consideration transferred	$ 29,900
Business Combination Number Of fleet fueling CardlockSitesAcquired | Sites	68
Property and equipment	$ 128,396
Other liabilities	598
WTG Fuels Holdings [Member] | Customer Relationships | Fueling sites
Business Acquisition [Line Items]
Useful life of the contracts							5 years
Pride Convenience Holdings, LLC [Member]
Business Acquisition [Line Items]
Number of convenience stores | StoresAndGasStation			31
Property and equipment			$ 4,700
Accounts Payable			1,000
Other liabilities			1,000
Deferred tax asset			1,000
Goodwill, period increase (decrease)			3,100
Depreciation and amortization expenses					$ 600				$ 200
Capital One Line of credit [Member] | Transit Energy Group [Member]
Business Acquisition [Line Items]
Business combination liabilities incurred		$ 55,000
Capital One Line of credit [Member] | WTG Fuels Holdings [Member]
Business Acquisition [Line Items]
Business combination liabilities incurred	$ 19,200
GPM Petroleum L P [Member] | Transit Energy Group [Member]
Business Acquisition [Line Items]
Goodwill				$ 55,000			$ 55,000
GPM Petroleum L P [Member] | Pride Convenience Holdings, LLC [Member]
Business Acquisition [Line Items]
Goodwill, period increase (decrease)			$ 400

Acquisitions - Summary of Detai

Acquisitions - Summary of Details of Business Combination (Details) - USD ($) $ in Thousands			3 Months Ended	6 Months Ended
	Jun. 06, 2023	Mar. 01, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Deferred tax asset		$ 19,135
Goodwill				$ 277,795		$ 217,297
Net cash outflow				481,636	$ 6,853
Transit Energy Group [Member]
Business Acquisition [Line Items]
Cash		26,702
GPMP Capital One Line of Credit		55,000
Liability resulting from deferred purchase price		45,845
Receivable from TEG		(62)
Consideration provided by Oak Street		258,019
Total consideration		385,504	$ 0		0
Cash and cash equivalents		379
Inventory		20,259
Other assets		1,304
Property and equipment, net		268,879
Intangible assets		20,000
Right-of-use assets under operating leases		69,254
Environmental receivables		2,664
Total assets		401,874
Other liabilities		(2,087)
Environmental liabilities		(2,939)
Asset retirement obligations		(11,187)
Operating leases		(57,569)
Total liabilities		(73,782)
Total identifiable net assets		328,092
Goodwill		57,412		$ 57,400
Consideration paid in cash		81,702
Consideration provided by Oak Street		258,019
Less: cash and cash equivalent balances acquired		(379)
Net cash outflow		$ 339,342
WTG Fuels Holdings [Member]
Business Acquisition [Line Items]
Cash	$ 10,653
GPMP Capital One Line of Credit	19,200
Payable	818
Consideration provided by Oak Street	115,041
Total consideration	145,712		$ 0		$ 0
Cash and cash equivalents	60
Inventory	5,694
Other assets	149
Property and equipment, net	128,396
Intangible assets	14,800
Right-of-use assets under operating leases	1,812
Environmental receivables	4
Total assets	150,915
Other liabilities	(598)
Environmental liabilities	(136)
Asset retirement obligations	(2,730)
Operating leases	(1,739)
Total liabilities	(5,203)
Total identifiable net assets	145,712
Goodwill	0
Consideration paid in cash	29,853
Consideration provided by Oak Street	115,041
Less: cash and cash equivalent balances acquired	(60)
Net cash outflow	$ 144,834

Acquisitions - Summary of Pro F

Acquisitions - Summary of Pro Forma Results of Operations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Business Combinations [Abstract]
Total revenue	$ 4,969,737	$ 5,938,441
Net income	$ 10,398	$ 36,523

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Capital One line of credit	$ 331,303	$ 256,430
Insurance premium notes	3,955	2,886
Total debt, net	823,671	751,987
Less current portion	(13,369)	(11,944)
Total long-term debt, net	810,302	740,043
Senior Notes [Member]
Debt Instrument [Line Items]
Total debt, net	444,033	443,648
M&T Debt [Member]
Debt Instrument [Line Items]
Total debt, net	$ 44,380	$ 49,023

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	May 05, 2023	May 01, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Capital One line of credit	$ 331,303			$ 256,430
Revolving Credit Facility [Member] | Gpmp
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000,000
Revolving Credit Facility [Member] | Gpmp | Maximum
Line of Credit Facility [Line Items]
Capital One line of credit		$ 800,000
Revolving Credit Facility [Member] | Gpmp | Minimum
Line of Credit Facility [Line Items]
Capital One line of credit		$ 500,000

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 Store Cardlock Dealer
Lessee, Lease, Description [Line Items]
Leases description	the Company leased 1,278 of the convenience stores that it operates, 209 dealer locations, 157 cardlock locations and certain office and storage spaces, including land and buildings in certain cases
Number of leased convenience stores | Store	1,278
Number of leased dealer locations | Dealer	209
Number of leased cardlock locations | Cardlock	157
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finance lease cost:
Depreciation of right-of-use assets	$ 2,785	$ 3,037	$ 5,638	$ 6,084
Interest on lease liabilities	4,142	4,260	8,304	8,631
Operating lease costs included in store operating expenses	45,752	34,358	87,336	68,653
Operating lease costs included in general and administrative expenses	587	351	1,121	738
Lease cost related to variable lease payments, short-term leases and leases of low value assets	711	569	1,401	1,213
Right-of-use asset impairment charges and loss (gain) on disposals of leases	1,994	0	1,454	0
Total lease costs	$ 55,971	$ 42,575	$ 105,254	$ 85,319

Leases -Summary of Supplemental

Leases -Summary of Supplemental Balance Sheet Data Information (Details)	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
Weighted average remaining lease term (in years)	14 years 4 months 24 days	14 years 1 month 6 days
Weighted average discount rate	7.80%	7.70%
Financing Leases
Weighted average remaining lease term (in years)	23 years 1 month 6 days	23 years 4 months 24 days
Weighted average discount rate	7.20%	7.20%

Leases - Schedule of Operating

Leases - Schedule of Operating and Finance Leases Liability Maturity (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Operating
July 2023 through June 2024	$ 174,609
July 2024 through June 2025	176,244
July 2025 through June 2026	176,841
July 2026 through June 2027	174,535
July 2027 through June 2028	171,421
Thereafter	1,688,912
Gross lease payments	2,562,562
Less: imputed interest	(1,076,015)
Total lease liabilities	1,486,547
Financing
July 2023 through June 2024	21,279
July 2024 through June 2025	21,046
July 2025 through June 2026	20,914
July 2026 through June 2027	20,772
July 2027 through June 2028	20,860
Thereafter	414,378
Gross lease payments	519,249
Less: imputed interest	(290,462)
Total lease liabilities	$ 228,787

Financial Derivative Instrume_2

Financial Derivative Instruments (Additional Information) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financial Derivative Instruments [Abstract]
Fuel gallons hedged	$ 3.2
Assets derivative fair value	0.2	$ 0.5
Firm commitment fair value	0.2	0.5
Cash collateral provided to counter parties	$ 0.2	$ 0.5

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions			3 Months Ended	6 Months Ended
	Jul. 20, 2022	Feb. 21, 2022	Jun. 30, 2023	Jun. 30, 2023	May 31, 2023	Feb. 28, 2022
Class of Stock [Line Items]
Dividend payable nature	quarterly			quarterly
Declared dividend per share	$ 0.03		$ 0.03	$ 0.03
Dividend			$ 3,600,000	$ 3,600,000
Authorized amount of share repurchase program					$ 100,000,000	$ 50,000,000
Treasury stock shares, acquired			1.5	1.6
Treasury stock value acquired cost method			$ 11,200,000	$ 11,900,000
Average price per share			$ 7.55	$ 7.57
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		$ 11.85

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum Defer Cash Fee Invested In Restricted Stock Units Percentage				100%
Stock options vested				352,000
Share-based compensation				$ 8,624	$ 5,882
Unrecognized compensation cost	$ 2,300			$ 2,300
Unrecognized compensation cost, weighted average period				2 years
RSU released				$ 5,300
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	4,283,000			4,283,000		3,115,000
Granted				1,676,000
Unrecognized compensation cost	$ 23,100			$ 23,100
Unrecognized compensation cost, weighted average period				1 year 10 months 24 days
Restricted Stock Units (RSUs) | Non-employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, Shares	272,476			272,476		198,170
Granted				110,390
Performance based Restricted Stock Units (PSU's)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted				1,097,740
Terms of Agreement				3 years
Unrecognized compensation cost	$ 23,100			$ 23,100
Unrecognized compensation cost, weighted average period				1 year 10 months 24 days
Percentage of units granted out of the target amount				125%		100%
Additional expense		$ 100
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	$ 4,600		$ 3,100	$ 8,600	$ 5,900

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, December 31, 2022	897
Granted	409
Options Outstanding, June 30, 2023	1,306	897
Weighted Average Exercise Price, December 31, 2022	$ 9.24
Weighted Average Exercise Price, Granted	8.58
Weighted Average Exercise Price, June 30, 2023	9.03	$ 9.24
Weighted Average Fair Value, Granted	$ 3.27
Options Outstanding, Remaining Average Contractual Term	8 years 10 months 24 days	9 years
Options Outstanding, Aggregate Intrinsic Value	$ 0	$ 77

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Assumptions Utilized in Valuation of Stock Option Awards (Details)	6 Months Ended
	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend rate	1.40%
Expected stock price volatility	28.80%
Risk-free interest rate	4%
Expected term of options (years)	10 years

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Nonvested RSUs, December 31, 2022 | shares	3,115
Granted | shares	1,676
Released | shares	(615)
Forfeited | shares	(37)
Performance-based share adjustment | shares	144
Nonvested RSUs, June 30, 2023 | shares	4,283
Weighted Average Grant Date Fair Value, December 31, 2022 | $ / shares	$ 8.9
Weighted Average, Granted | $ / shares	8.49
Weighted Average, Released | $ / shares	9
Weighted Average, Forfeited | $ / shares	9.22
Weighted Average, Performance-based share adjustment | $ / shares	8.13
Weighted Average Grant Date Fair Value, June 30, 2023 | $ / shares	$ 8.7

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 12,997	$ 30,320	$ 8,999	$ 31,141
Dividends on redeemable preferred stock	0	1,434	0	0
Net income available to common stockholders after assumed conversions	$ 12,997	$ 31,754	$ 8,999	$ 31,141
Weighted average common shares outstanding — Basic	119,893	121,529	120,073	122,909
Effect of dilutive securities:
Restricted share units	$ 1,387	$ 668	$ 694	$ 336
Redeemable preferred stock	$ 0	$ 8,361	$ 0	$ 0
Weighted average common shares outstanding — Diluted	121,280	130,558	120,767	123,245
Net income per share available to common stockholders - Basic	$ 0.11	$ 0.25	$ 0.07	$ 0.25
Net income per share attributable to common shareholders - diluted	$ 0.11	$ 0.24	$ 0.07	$ 0.25

Earnings per Share - Schedule o

Earnings per Share - Schedule of Securities with Antidilutive Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of diluted earnings per share (in shares)	1,306,000	897,000
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)	1,100,000	1,100,000
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)	17,333,000	17,333,000
Series A redeemable preferred stock [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)	8,439,000	0

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Additional Information (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Oct. 21, 2021	Dec. 31, 2020
Fair Value Measurements [Line Items]
Change in fair value of Contingent Consideration	$ 0.9	$ 0.5	$ 1.6	$ 0.5
Fair value adjustment of Deferred shares	0.1	0.2	0.1	0.2
Fair value adjustment of contingent consideration	0.1	(0.5)	0.2	(0.4)
Senior Notes [Member]
Fair Value Measurements [Line Items]
Senior Notes, Noncurrent						$ 450
Debt instrument, interest rate, stated percentage						5.125%
Fair value of bonds	367		367		$ 354.7
Long-Term Debt, Gross	450		450		450
Level 3 [Member]
Fair Value Measurements [Line Items]
Contingent payments related to acquisitions	$ 2.2		$ 2.2		3.7
Public Warrants [Member]
Fair Value Measurements [Line Items]
Warrants to purchase common stock	14,800		14,800
Public warrants liability fair value adjustment	$ 0	7.1	$ 3.8	5.2
Public Warrants [Member] | Level 1 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants	22.1		22.1		25.9
Private Warrants [Member]
Fair Value Measurements [Line Items]
Private warrants liability fair value adjustment	$ 0.1	1.2	$ 1.1	0.9
Warrants to purchase common stock	2,500		2,500
Private Warrants [Member] | Level 2 [Member]
Fair Value Measurements [Line Items]
Fair value of warrants	$ 3.4		$ 3.4		4.5
Deferred Shares [Member]
Fair Value Measurements [Line Items]
Warrants to purchase common stock	200		200
Fair Value of Deferred Shares classified as liabilities, value	$ 1.3		$ 1.3		1.4
Ares Put Option [Member]
Fair Value Measurements [Line Items]
Put Option Contract Fair Value							$ 27.3
Fair value of put option	9.8		9.8		$ 8.6
Change in fair value of Ares Put Option	$ 0	$ 1.6	$ 1.2	$ 0.5

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Fair Value Material Assumptions Based on Observable and Unobservable Inputs (Details)	6 Months Ended
	Jun. 30, 2023 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	1.5
Private Warrants [Member] | Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Strike price | $ / shares	$ 11.5
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	2.5
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	44.5
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	4.7
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	3.9
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	36.2
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	4.3
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	$ 7.95

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 $ / gal
Segment Reporting [Abstract]
Fixed margin	5

Segment Reporting - Schedule of

Segment Reporting - Schedule of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenues	$ (2,469,141)	$ (2,540,263)	$ (4,557,517)	$ (4,513,074)
Operating Income	121,114	103,734	201,665	177,735
Interest and financial expenses, net	(6,840)	(1,819)	(12,090)	(4,264)
Income tax (expense) benefit				177
Income loss from equity investment	(27)	28	(63)	37
Net income from reportable segments	114,247	101,943	189,512	173,685
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	2,469,141	2,540,263	4,557,517	4,513,074
Net income from reportable segments	114,247	101,943	189,512	173,685
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	1,371,331	1,738,545	2,517,011	3,014,568
Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	3,840,472	4,278,808	7,074,528	7,527,642
Retail
Segment Reporting Information [Line Items]
Operating Income	77,857	71,847	119,488	117,526
Retail | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,518,923	1,566,267	2,781,239	2,804,243
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	1,518,923	1,566,267	2,781,239	2,804,243
Wholesale
Segment Reporting Information [Line Items]
Operating Income	6,767	9,786	14,317	17,199
Wholesale | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	817,249	972,167	1,508,588	1,705,586
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	817,249	972,167	1,508,588	1,705,586
Fleet Fueling
Segment Reporting Information [Line Items]
Operating Income	9,344		17,768
Fleet Fueling | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	122,822		251,267
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	122,822		251,267
Gpmp
Segment Reporting Information [Line Items]
Operating Income	27,008	21,799	49,630	42,406
Interest and financial expenses, net	(6,840)	(1,819)	(12,090)	(4,264)
Gpmp | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,334	1,829	2,245	3,245
Gpmp | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	1,366,786	1,738,243	2,509,408	3,013,964
Gpmp | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	1,368,120	1,740,072	2,511,653	3,017,209
Other Segments
Segment Reporting Information [Line Items]
Operating Income	138	302	462	604
Interest and financial expenses, net	0	0	0	0
Income tax (expense) benefit				177
Income loss from equity investment	(27)	28	(63)	37
Other Segments | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	8,813	0	14,178	0
Other Segments | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	4,545	302	7,603	604
Other Segments | Reportable Legal Entities
Segment Reporting Information [Line Items]
Total revenues	13,358	302	21,781	604
Fuel Revenue [Member]
Segment Reporting Information [Line Items]
Total revenues	1,957,100	2,085,854	3,618,764	3,669,380
Fuel Revenue [Member] | Retail
Segment Reporting Information [Line Items]
Total revenues	1,015,365	1,117,849	1,858,838	1,972,516
Fuel Revenue [Member] | Wholesale
Segment Reporting Information [Line Items]
Total revenues	811,139	966,434	1,495,987	1,694,131
Fuel Revenue [Member] | Fleet Fueling
Segment Reporting Information [Line Items]
Total revenues	121,146		248,640
Fuel Revenue [Member] | Gpmp
Segment Reporting Information [Line Items]
Total revenues	1,057	1,571	1,798	2,733
Fuel Revenue [Member] | Other Segments
Segment Reporting Information [Line Items]
Total revenues	8,393	0	13,501	0
Merchandise Revenue [Member]
Segment Reporting Information [Line Items]
Total revenues	484,561	431,751	884,849	798,736
Merchandise Revenue [Member] | Retail
Segment Reporting Information [Line Items]
Total revenues	484,561	431,751	884,849	798,736
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	27,480	22,658	53,904	44,958
Other Revenues, Net | Retail
Segment Reporting Information [Line Items]
Total revenues	18,997	16,667	37,552	32,991
Other Revenues, Net | Wholesale
Segment Reporting Information [Line Items]
Total revenues	6,110	5,733	12,601	11,455
Other Revenues, Net | Fleet Fueling
Segment Reporting Information [Line Items]
Total revenues	1,676		2,627
Other Revenues, Net | Gpmp
Segment Reporting Information [Line Items]
Total revenues	277	258	447	512
Other Revenues, Net | Other Segments
Segment Reporting Information [Line Items]
Total revenues	$ 420	$ 0	$ 677	$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Information [Line Items]
Total revenues	$ 2,469,141	$ 2,540,263	$ 4,557,517	$ 4,513,074
Reportable Legal Entities
Segment Information [Line Items]
Total revenues	(3,840,472)	(4,278,808)	(7,074,528)	(7,527,642)
Intersegment Eliminations
Segment Information [Line Items]
Total revenues	$ (1,371,331)	$ (1,738,545)	$ (2,517,011)	$ (3,014,568)

Segment Reporting - Reconcili_2

Segment Reporting - Reconciliation of net income from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Information [Line Items]
Net income from reportable segments	$ 114,247	$ 101,943	$ 189,512	$ 173,685
Store operating expenses	218,002	178,077	410,685	344,615
General and administrative expenses	42,660	32,956	83,076	64,741
Depreciation and amortization	32,837	24,353	61,236	48,989
Other (expenses) income, net	(4,956)	(1,197)	(7,676)	(2,318)
Income tax expense	5,014	9,157	2,856	10,162
Net Income (Loss)	14,431	31,754	11,851	33,993
Operating Segments
Segment Information [Line Items]
Net income from reportable segments	114,247	101,943	189,512	173,685
Amounts not allocated to segments [Member]
Segment Information [Line Items]
Store operating expenses	3,604	747	(6,281)	1,331
General and administrative expenses	(41,879)	(32,197)	(81,523)	(63,276)
Depreciation and amortization	(30,995)	(22,511)	(57,552)	(45,305)
Other (expenses) income, net	(4,956)	(1,197)	(7,676)	(2,318)
Interest and other financial expenses, net	(13,320)	(5,822)	(21,672)	(19,654)
Income tax expense	(5,014)	(9,157)	(2,856)	10,339
Net Income (Loss)	$ 14,479	$ 31,806	$ (11,952)	$ (34,124)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	May 02, 2023	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Environmental obligations		$ 14.5	$ 12.1
Estimated amount recoverable		7.8	4.9
Asset retirement obligation		$ 80.4	$ 65.3
Oak Street [Member]
Loss Contingencies [Line Items]
Real Estate Funding	$ 1,500