Consolidated Balance Sheets (Parenthetical) - shares |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Common Units [Member] | ||
Partners' capital: | ||
Limited partner interest, units issued (in shares) | 83,333,631 | 82,985,941 |
Limited partner interest, units outstanding (in units) | 83,333,631 | 82,985,941 |
Class C Units Subsidiary [Member] | ||
Partners' capital: | ||
Limited partner interest, units issued (in shares) | 16,410,780 | 16,410,780 |
Limited partner interest, units outstanding (in units) | 16,410,780 | 16,410,780 |
Unit-Based Compensation |
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Share-based Payment Arrangement, Noncash Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unit-Based Compensation | Unit-Based Compensation The Partnership has issued phantom units to its employees and non-employee directors, which vest 60% after three years and 40% after five years. Phantom units have the right to receive distributions prior to vesting. The fair value of these units is the market price of our common units on the grant date, and is amortized over the five-year vesting period using the straight-line method. Unit-based compensation expense related to the Partnership included in our Consolidated Statements of Operations and Comprehensive Income (Loss) was $14 million, $13 million and $12 million for the years ended December 31, 2020, 2019 and 2018, respectively. The total fair value of phantom units vested for the years ended December 31, 2020, 2019 and 2018, was $14 million, $14 million and $12 million, respectively, based on the market price of SUN’s common units as of the vesting date. Unrecognized compensation expenses related to our nonvested phantom units totaled $19 million as of December 31, 2020, which are expected to be recognized over a weighted average period of 4.08 years. The fair value of nonvested phantom units outstanding as of December 31, 2020 and December 31, 2019, totaled $62 million and $62 million, respectively. Phantom unit award activity for the years ended December 31, 2020 and 2019 consisted of the following:
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Organization and Principles of Consolidation |
12 Months Ended |
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Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Principles of Consolidation | Organization and Principles of Consolidation As used in this document, the terms “Partnership,” “SUN,” “we,” “us,” and “our” should be understood to refer to Sunoco LP and our consolidated subsidiaries, unless the context clearly indicates otherwise. We are a Delaware master limited partnership. We are managed by our general partner, Sunoco GP LLC (“General Partner”), which is owned by Energy Transfer Operating, L.P. (“ETO”), a consolidated subsidiary of Energy Transfer LP (“ET”). As of December 31, 2020, ETO and its subsidiaries owned 100% of the membership interests in our General Partner, all of our incentive distribution rights (“IDRs”) and approximately 34.2% of our common units, which constitutes a 28.5% limited partner interest in us. The consolidated financial statements are composed of Sunoco LP, a publicly traded Delaware limited partnership, and our wholly‑owned subsidiaries. We distribute motor fuels across more than 30 states throughout the East Coast, Midwest, South Central and Southeast regions of the United States, from Maine to Florida and from Florida to New Mexico, as well as Hawaii. We also operate retail stores in Hawaii and New Jersey. In January 2018, we sold a portfolio of 1,030 company operated retail fuel outlets, together with ancillary businesses and related assets to 7-Eleven, Inc. ("7-Eleven") and SEI Fuel Services, Inc. ("SEI Fuel") for approximately $3.2 billion (the “7-Eleven Transaction”). The results of the 7-Eleven Transaction have been reported as discontinued operations in the consolidated financial statements. See Note 4 for more information related to the 7-Eleven Purchase Transaction and discontinued operations. All other footnotes present results of the continuing operations. On April 1, 2018, the Partnership completed the conversion of 207 retail sites located in certain West Texas, Oklahoma and New Mexico markets to a single commission agent. Our primary operations are conducted by the following consolidated subsidiaries: •Sunoco, LLC (“Sunoco LLC”), a Delaware limited liability company, primarily distributes motor fuel in 30 states throughout the East Coast, Midwest, South Central and Southeast regions of the United States. Sunoco LLC also processes transmix and distributes refined product through its terminals in Alabama, Texas, Arkansas and New York. •Sunoco Retail LLC (“Sunoco Retail”), a Pennsylvania limited liability company, owns and operates retail stores that sell motor fuel and merchandise primarily in New Jersey. •Aloha Petroleum LLC, a Delaware limited liability company, distributes motor fuel and operates terminal facilities on the Hawaiian Islands. •Aloha Petroleum, Ltd. (“Aloha”), a Hawaii corporation, owns and operates retail stores on the Hawaiian Islands. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain items have been reclassified for presentation purposes to conform to the accounting policies of the consolidated entity. These reclassifications had no impact on gross margin, income from operations, net income (loss) and comprehensive income (loss), or the balance sheets or statements of cash flows.
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Summary of Significant Accounting Policies |
12 Months Ended |
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Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Measurements We use fair value measurements to measure, among other items, purchased assets, investments, leases and derivative contracts. We also use them to assess impairment of properties, equipment, intangible assets and goodwill. An asset’s fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters, or is derived from such prices or parameters. Where observable prices or inputs are not available, unobservable prices or inputs are used to estimate the current fair value, often using an internal valuation model. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the item being valued. ASC 820 “Fair Value Measurements and Disclosures” prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3 Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash, accounts receivable, certain other current assets, marketable securities, accounts payable, accrued expenses, and certain other current liabilities are reflected in the consolidated balance sheets at carrying amounts, which approximate the fair value due to their short term nature. Segment Reporting We operate our business in two primary operating segments, Fuel Distribution and Marketing and All Other, both of which are included as reportable segments. Our Fuel Distribution and Marketing segment sells motor fuel to our All Other segment and external customers. Our All Other segment includes the Partnership’s credit card services, franchise royalties, and its retail operations in Hawaii and New Jersey. Acquisition Accounting Acquisitions of assets or entities that include inputs and processes and have the ability to create outputs are accounted for as business combinations. A purchase price allocation is recorded for tangible and intangible assets acquired and liabilities assumed based on their fair value. The excess of fair value of consideration conveyed over fair value of net assets acquired is recorded as goodwill. The consolidated statements of operations and comprehensive income (loss) for the periods presented include the results of operations for each acquisition from their respective dates of acquisition. Acquisitions of entities under common control are accounted for similar to a pooling of interests, in which the acquired assets and assumed liabilities are recognized at their historic carrying values. The results of operations of affiliated businesses acquired are reflected in the Partnership’s consolidated results of operations beginning on the date of common control. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits, and short-term investments with original maturities of three months or less. Sunoco LLC and Sunoco Retail have treasury services agreements with Sunoco (R&M), LLC, an indirect wholly-owned subsidiary of ETO, for certain cash management activities. The net balance of Sunoco LLC and Sunoco Retail activity is reflected in either “Advances to affiliates” or “Advances from affiliates” on the consolidated balance sheets. Accounts Receivable The majority of trade receivables are from wholesale fuel customers or from credit card companies related to retail credit card transactions. Wholesale customer credit is extended based on an evaluation of the customer’s financial condition. We maintain allowances for expected credit losses based on the best estimate of the amount of expected credit losses in existing accounts receivable. Credit losses are recorded against the allowance when accounts are deemed uncollectible. Receivables from affiliates arise from fuel sales and other miscellaneous transactions with non-consolidated affiliates. These receivables are recorded at face value, without interest or discount. Inventories Fuel inventories are stated at the lower of cost or market using the last-in-first-out (“LIFO”) method. Under this methodology, the cost of fuel sold consists of actual acquisition costs, which includes transportation and storage costs. Such costs are adjusted to reflect increases or decreases in inventory quantities which are valued based on changes in LIFO inventory layers. Merchandise inventories are stated at the lower of average cost, as determined by the retail inventory method, or market. We record an allowance for shortages and obsolescence relating to merchandise inventory based on historical trends and any known changes. Shipping and handling costs are included in the cost of merchandise inventories. Advertising Costs Advertising costs are expensed as incurred. Advertising costs were $19 million for the year ended December 31, 2020, and $24 million for each of the years ended December 31, 2019 and 2018. Property and Equipment Property and equipment are recorded at cost. Depreciation is computed on a straight-line basis over the useful lives of assets, estimated to be forty years for buildings, three to fifteen years for equipment and thirty years for storage tanks. Assets under finance leases are depreciated over the life of the corresponding lease. Amortization of leasehold improvements is based upon the shorter of the remaining terms of the leases including renewal periods that are reasonably assured, or the estimated useful lives, which approximate twenty years. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Maintenance and repairs are charged to operations as incurred. Gains or losses on the disposition of property and equipment are recorded in the period incurred. Long-Lived Assets and Assets Held for Sale Long-lived assets are tested for possible impairment whenever events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If such indicators exist, the estimated undiscounted future cash flows related to the asset are compared to the carrying value of the asset. If the carrying value is greater than the estimated undiscounted future cash flow amount, an impairment charge is recorded within loss on disposal of assets and impairment charges in the consolidated statements of operations and comprehensive income (loss) for amounts necessary to reduce the corresponding carrying value of the asset to fair value. The impairment loss calculations require management to apply judgment in estimating future cash flows. Properties that have been closed and other excess real property are recorded as assets held for sale, and are written down to the lower of cost or estimated net realizable value at the time we close such stores or determine that these properties are in excess and intend to offer them for sale. We estimate the net realizable value based on our experience in utilizing or disposing of similar assets and on estimates provided by our own and third-party real estate experts. Although we have not experienced significant changes in our estimate of net realizable value, changes in real estate markets could significantly impact the net values realized from the sale of assets. When we have determined that an asset is more likely than not to be sold in the next twelve months, that asset is classified as assets held for sale and included in other current assets. We had no assets classified as assets held for sale as of December 31, 2020 or 2019. Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of consideration paid over fair value of net assets acquired. Goodwill and intangible assets acquired in a purchase business combination are recorded at fair value as of the date acquired. Acquired intangible assets determined to have an indefinite useful life are not amortized, but are instead tested for impairment at least annually, or more frequently if events and circumstances indicate that the asset might be impaired. The annual impairment test of goodwill and indefinite lived intangible assets is performed as of the first day of the fourth quarter of each fiscal year. The Partnership uses qualitative factors to determine whether it is more likely than not (likelihood of more than 50%) that the fair value of a reporting unit exceeds its carrying amount, including goodwill. Some of the qualitative factors considered in applying this test include consideration of macroeconomic conditions, industry and market conditions, cost factors affecting the business, overall financial performance of the business, and performance of the unit price of the Partnership. If qualitative factors are not deemed sufficient to conclude that the fair value of the reporting unit more likely than not exceeds its carrying value, then a one-step approach is applied in making an evaluation. The evaluation utilizes multiple valuation methodologies, including a market approach (market price multiples of comparable companies) and an income approach (discounted cash flow analysis). The computations require management to make significant estimates and assumptions, including, among other things, selection of comparable publicly traded companies, the discount rate applied to future earnings reflecting a weighted average cost of capital, and earnings growth assumptions. A discounted cash flow analysis requires management to make various assumptions about future sales, operating margins, capital expenditures, working capital, and growth rates. If the evaluation results in the fair value of the reporting unit being lower than the carrying value, an impairment charge is recorded. Indefinite-lived intangible assets are composed of certain tradenames and liquor licenses which are not amortized but are evaluated for impairment annually or more frequently if events or changes occur that suggest an impairment in carrying value, such as a significant adverse change in the business climate. Indefinite-lived intangible assets are evaluated for impairment by comparing each asset’s fair value to its book value. Management first determines qualitatively whether it is more likely than not that an indefinite‑lived asset is impaired. If management concludes that it is more likely than not that an indefinite-lived asset is impaired, then its fair value is determined by using the discounted cash flow model based on future revenues estimated to be derived in the use of the asset. Other Intangible Assets Other finite-lived intangible assets consist of supply agreements, customer relations, non-competes, and loan origination costs. Separable intangible assets that are not determined to have an indefinite life are amortized over their useful lives and assessed for impairment only if and when circumstances warrant. Determination of an intangible asset’s fair value and estimated useful life are based on an analysis of pertinent factors including (1) the use of widely-accepted valuation approaches, such as the income approach or the cost approach, (2) the expected use of the asset by the Partnership, (3) the expected useful life of related assets, (4) any legal, regulatory or contractual provisions, including renewal or extension period that would cause substantial costs or modifications to existing agreements, and (5) the effects of obsolescence, demand, competition, and other economic factors. Should any of the underlying assumptions indicate that the value of the intangible assets might be impaired, we may be required to reduce the carrying value and remaining useful life of the asset. If the underlying assumptions governing the amortization of an intangible asset were later determined to have significantly changed, we may be required to adjust its amortization period to reflect a new estimate of its useful life. Any write‑down of the value or unfavorable change in the useful life of an intangible asset would increase expense at that time. Customer relations and supply agreements are amortized on a straight-line basis over the remaining terms of the agreements, which generally range from five to twenty years. Non-competition agreements are amortized over the terms of the respective agreements, and loan origination costs are amortized over the life of the underlying debt as an increase to interest expense. Asset Retirement Obligations The estimated future cost to remove an underground storage tank is recognized over the estimated useful life of the storage tank. We record a discounted liability for the future fair value of an asset retirement obligation along with a corresponding increase to the carrying value of the related long-lived asset at the time an underground storage tank is installed. We then depreciate the amount added to property and equipment and recognize accretion expense in connection with the discounted liability over the remaining life of the tank. We base our estimates of the anticipated future costs for tank removal on our prior experience with removals. We review assumptions for computing the estimated liability for tank removal on an annual basis. Any change in estimated cash flows are reflected as an adjustment to both the liability and the associated asset. Long-lived assets related to asset retirement obligations aggregated $18 million and $20 million, and were reflected as property and equipment, net on our consolidated balance sheets as of December 31, 2020 and 2019, respectively. Environmental Liabilities Environmental expenditures related to existing conditions, resulting from past or current operations, and from which no current or future benefit is discernible, are expensed. Expenditures that extend the life of the related property or prevent future environmental contamination are capitalized. We determine and establish a liability on a site-by-site basis when it is probable and can be reasonably estimated. A related receivable is recorded for estimable and probable reimbursements. Revenue Recognition Revenue from motor fuel is recognized either at the time fuel is delivered to the customer or at the time of sale. Shipment and delivery of motor fuel generally occurs on the same day. The Partnership charges wholesale customers for third-party transportation costs, which are recorded net in cost of sales. Through PropCo, our wholly-owned corporate subsidiary, we sell motor fuel to customers on a commission agent basis, in which we retain title to inventory, control access to and sale of fuel inventory, and recognize revenue at the time the fuel is sold to the end customer. In our Fuel Distribution and Marketing segment, we derive additional income from lease income, propane and lubricating oils, and other ancillary product and service offerings. In our All Other segment, we derive other income from merchandise, lottery ticket sales, money orders, prepaid phone cards and wireless services, ATM transactions, car washes, and other ancillary product and service offerings. We record revenue from other retail transactions on a net commission basis when a product is sold and/or services are rendered. Lease Income Lease income from operating leases is recognized on a straight-line basis over the term of the lease. Cost of Sales We include in cost of sales all costs incurred to acquire fuel and merchandise, including the costs of purchasing, storing, and transporting inventory prior to delivery to our customers. Items are removed from inventory and are included in cost of sales based on the retail inventory method for merchandise and the LIFO method for motor fuel. Cost of sales does not include depreciation of property and equipment as amounts attributed to cost of sales would not be significant. Depreciation is classified within operating expenses in the consolidated statements of operations and comprehensive income (loss). Motor Fuel and Sales Taxes Certain motor fuel and sales taxes are collected from customers and remitted to governmental agencies either directly by the Partnership or through suppliers. The Partnership’s accounting policy for wholesale direct sales to dealers, distributors and commercial customers is to exclude the collected motor fuel tax from sales and cost of sales. For retail locations where the Partnership holds inventory, including commission agent locations, motor fuel sales and motor fuel cost of sales include motor fuel taxes. Such amounts were $301 million, $386 million and $370 million, for the years ended December 31, 2020, 2019 and 2018, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in the consolidated statements of operations and comprehensive income (loss). Deferred Branding Incentives We receive payments for branding incentives related to fuel supply contracts. Unearned branding incentives are deferred and amortized on a straight-line basis over the term of the agreement as a credit to cost of sales. Lease Accounting At the inception of each lease arrangement, we determine if the arrangement is a lease or contains an embedded lease and review the facts and circumstances of the arrangement to classify lease assets as operating or finance leases under Topic 842. The Partnership has elected not to record any leases with terms of 12 months or less on the balance sheet. Balances related to operating leases are included in operating lease ROU assets, accrued expenses and other current liabilities, operating lease current liabilities and non-current operating lease liabilities in our consolidated balance sheets. Finance leases represent a small portion of the active lease agreements and are included in finance lease ROU assets, current maturities of long-term debt and long-term debt, less current maturities in our consolidated balance sheets. The ROU assets represent the Partnership’s right to use an underlying asset for the lease term and lease liabilities represent the obligation of the Partnership to make minimum lease payments arising from the lease for the duration of the lease term. The Partnership leases a portion of its properties under non-cancelable operating leases, whose initial terms are typically five to fifteen years, with options permitting renewal for additional periods. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or greater. The exercise of lease renewal options is typically at the sole discretion of the Partnership and lease extensions are evaluated on a lease-by-lease basis. Leases containing early termination clauses typically require the agreement of both parties to the lease. At the inception of a lease, all renewal options reasonably certain to be exercised are considered when determining the lease term. The depreciable life of lease assets and leasehold improvements are limited by the expected lease term. To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable. Presently, because many of our leases do not provide an implicit rate, the Partnership applies its incremental borrowing rate based on the information available at the lease commencement date to determine the present value of minimum lease payments. The operating and finance lease ROU assets include any lease payments made and exclude lease incentives. Minimum rent is expensed on a straight-line basis over the term of the lease, including renewal periods that are reasonably assured at the inception of the lease. The Partnership is typically responsible for payment of real estate taxes, maintenance expenses, and insurance. The Partnership also leases certain vehicles, and such leases are typically less than five years. For short-term leases (leases that have term of twelve months or less upon commencement), lease payments are recognized on a straight-line basis and no ROU assets are recorded. Earnings Per Unit In addition to limited partner units, we have identified incentive distribution rights (“IDRs”) as participating securities and compute income per unit using the two-class method under which any excess of distributions declared over net income shall be allocated to the partners based on their respective sharing of income specified in the First Amended and Restated Agreement of Limited Partnership, as amended (the “Partnership Agreement”). Net income per unit applicable to limited partners is computed by dividing limited partners’ interest in net income, after deducting any incentive distributions, distributions on Series A Preferred Units and unvested phantom unit awards, by the weighted-average number of outstanding common units. Unit-Based Compensation Under the Partnership's long-term incentive plans, various types of awards may be granted to employees, consultants, and directors of our General Partner who provide services for us. Compensation expense related to outstanding awards is recognized over the vesting period based on the grant-date fair value. The grant-date fair value is determined based on the market price of our common units on the grant date. We amortize the grant-date fair value of these awards over their vesting period using the straight-line method. Expenses related to unit-based compensation are included in general and administrative expenses. Income Taxes The Partnership is a publicly traded limited partnership and is not taxable for federal and most state income tax purposes. As a result, our earnings or losses, to the extent not included in a taxable subsidiary, for federal and most state purposes are included in the tax returns of the individual partners. Net earnings for financial statement purposes may differ significantly from taxable income reportable to Unitholders as a result of differences between the tax basis and financial basis of assets and liabilities, differences between the tax accounting and financial accounting treatment of certain items, and due to allocation requirements related to taxable income under our Partnership Agreement. As a publicly traded limited partnership, we are subject to a statutory requirement that our “qualifying income” (as defined by the Internal Revenue Code, related Treasury Regulations, and IRS pronouncements) exceed 90% of our total gross income, determined on a calendar year basis. If our qualifying income were not to meet this statutory requirement, the Partnership would be taxed as a corporation for federal and state income tax purposes. For the years ended December 31, 2020, 2019, and 2018, our qualifying income met the statutory requirement. The Partnership conducts certain activities through corporate subsidiaries which are subject to federal, state and local income taxes. These corporate subsidiaries include Sunoco Property Company LLC (“PropCo”) and Aloha. The Partnership and its corporate subsidiaries account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in earnings in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. The determination of the provision for income taxes requires significant judgment, use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items and the probability of sustaining uncertain tax positions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more-likely-than-not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes through the provision for income taxes. Recently Adopted Accounting Pronouncement In June 2016, the Financial Accounting Standards Board issued ASU 2016-13 "Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. The Partnership adopted ASU 2016-13 on January 1, 2020. The impact of the adoption was not material; however, due to the global economic impacts of COVID-19, the Partnership recorded $12 million of current expected credit losses for the year ended December 31, 2020.
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Mergers and Acquisitions |
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Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Acquisitions and Divestment 2020 Acquisition On December 15, 2020, we acquired a terminal in New York for approximately $12 million plus working capital adjustments. 2019 Acquisition On January 18, 2019, we acquired certain convenience store locations for approximately $5 million plus working capital adjustments. We subsequently converted the acquired convenience store locations to commission agent locations. Fulton Divestment On May 31, 2019, we completed the previously announced divestiture to Attis Industries Inc. (“Attis”) for the sale of our ethanol plant, including the grain malting operation, in Fulton, New York. As part of the transaction, we entered into a 10-year ethanol offtake agreement with Attis. Total consideration for the divestiture was $20 million in cash plus certain working capital adjustments. Pursuant to the offtake agreement wherein Attis sells ethanol to Sunoco, Attis is responsible for remitting taxes related to such sales to the state of New York. Should Attis fail to remit such taxes, under New York law, we could be held jointly and severally liable for any unremitted portions for sales that occurred through February 4, 2020. Our current estimate of the net cash exposure for the potential liability is $19 million as of December 31, 2020. Other Acquisitions The following is a summary of the allocation of the purchase price paid to the fair values of the net assets, net of cash acquired, of our acquisitions during 2018 (in millions):
On December 20, 2018, we completed the acquisition of the refined products terminalling business from American Midstream Partners, LP for approximately $127 million inclusive of working capital adjustments. The refined products terminalling business consists of terminals located in Texas and Arkansas with a combined 21 tanks, approximately 1.3 million barrels of storage capacity and approximately 77,500 barrels per day of total throughput capacity. The acquisition increased goodwill by $43 million, which is deductible for tax purposes. On December 18, 2018, we completed the acquisition of the wholesale fuel distribution business from Schmitt Sales, Inc. (“Schmitt”) for approximately $46 million inclusive of working capital adjustments. The acquired wholesale fuels business distributes approximately 180 million gallons of fuel annually across a network of dealer and commission agent-operated locations in the Upstate New York and Pennsylvania markets. The acquisition increased goodwill by $6 million. On October 16, 2018, we completed the acquisition of BRENCO Marketing Corporation’s fuel distribution business (“BRENCO”) for approximately $26 million inclusive of working capital adjustments. The acquired wholesale fuels business distributes approximately 95 million gallons of fuel annually across a network of approximately 160 dealer and commission agent-operated locations and 100 commercial accounts in Central and East Texas. The acquisition increased goodwill by $5 million. On August 1, 2018, we completed the acquisition of the equity interests of Sandford Energy, LLC, Sandford Transportation, LLC and their respective subsidiaries (“Sandford”) for approximately $93 million inclusive of working capital and other adjustments. The acquired wholesale fuels business distributes approximately 115 million gallons of fuel annually to exploration, drilling and oil field services customers, primarily in basins in Central and West Texas and Oklahoma. The acquisition increased goodwill by $31 million, which is not deductible for tax purposes. On April 25, 2018, we completed the acquisition of wholesale fuel distribution assets and related terminal assets from Superior Plus Energy Services, Inc. (“Superior”) for approximately $58 million inclusive of working capital adjustments. The assets consist of a network of approximately 100 dealers, several hundred commercial contracts and three terminals, which are connected to major pipelines serving the Upstate New York market. The acquisition increased goodwill by $10 million. On April 2, 2018, we completed the acquisition of 26 retail fuel outlets from 7-Eleven and SEI Fuel for approximately $54 million, inclusive of working capital adjustment. We subsequently converted the acquired stations from company-operated sites to commission agent locations. The acquisition increased goodwill by $30 million.
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Discontinued Operations |
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Discontinued Operations On January 23, 2018, we completed the 7-Eleven Transaction discussed in Note 1. Subsequent to the closing of the 7-Eleven Transaction, previously eliminated wholesale motor fuel sales to the Partnership’s retail locations are reported as wholesale motor fuel sales to third parties. In connection with the 7-Eleven Transaction, we entered into a 15-year take-or-pay fuel supply arrangement with 7-Eleven and SEI Fuel. For the period from January 1, 2018 through January 22, 2018, we recorded sales to the sites that were subsequently sold to 7-Eleven of $199 million, which sales were eliminated in consolidation. The Partnership concluded that it meets the accounting requirements for reporting the financial position, results of operations and cash flows of the 7-Eleven Transaction and the operations of the related assets as discontinued operations. As a result of the 7-Eleven Transaction, the Partnership recorded transaction costs of $3 million during 2018. The Partnership had no assets or liabilities associated with discontinued operations as of December 31, 2020 or 2019. There were no results of operations associated with discontinued operations for the years ended December 31, 2020 or 2019. The results of operations associated with discontinued operations are presented in the following table:
_______________________________ (1)Non motor fuel sales includes merchandise sales totaling $89 million for the year ended December 31, 2018.
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Accounts Receivable, net |
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Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable, net | Accounts Receivable, net Accounts receivable, net, consisted of the following:
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Inventories, net |
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Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories, net | Inventories, net Due to changes in fuel prices, we recorded a write-down on the value of fuel inventory of $82 million for the year ended December 31, 2020. Fuel inventories are stated at the lower of cost or market using the last-in-first-out (“LIFO”) method. As of December 31, 2020 and 2019, the carrying value of the Partnership’s fuel inventory included lower of cost or market reserves of $311 million and $229 million, respectively, and the inventory carrying value equaled or exceeded its replacement cost. For the years ended December 31, 2020, 2019 and 2018, the Partnership’s Consolidated Statements of Operations did not include any material amounts of income from the liquidation of LIFO fuel inventory. Inventories, net consisted of the following:
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Property and Equipment, net |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, net | Property and Equipment, net Property and equipment, net consisted of the following:
Depreciation expense on property and equipment was $122 million, $121 million and $129 million for the years ended December 31, 2020, 2019 and 2018, respectively.
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Goodwill and Other Intangible Assets |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Goodwill balances and activity for the years ended December 31, 2020 and 2019 consisted of the following:
During 2018, 2019, and 2020, management performed annual goodwill impairment testing on its reporting units. No goodwill impairment was identified for the reporting units as a result of these tests. During the first quarter of 2020, due to the impacts of the COVID-19 pandemic and the decline in the Partnership’s market capitalization, management determined that interim impairment testing should also be performed. We performed the interim impairment tests consistent with our approach for annual impairment testing, including using similar models, inputs and assumptions. As a result of the interim impairment test, no goodwill impairment was identified for the reporting units. During 2020, $316 million of goodwill from the All Other segment was reclassified to the Fuel Distribution and Marketing segment. The 2018 and 2019 balances were also reclassified by the same amount for presentation purposes. The Partnership determined the fair value of our reporting units using a weighted combination of the discounted cash flow method and the guideline company method. Determining the fair value of a reporting unit requires judgment and the use of significant estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating margins, weighted average costs of capital and future market conditions, among others. The Partnership believes the estimates and assumptions used in our impairment assessments are reasonable and based on available market information, but variations in any of the assumptions could result in materially different calculations of fair value and determinations of whether or not an impairment is indicated. Under the discounted cash flow method, the Partnership determined fair value based on estimated future cash flows of each reporting unit including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflect the overall level of inherent risk of the reporting unit. Cash flow projections are derived from one year budgeted amounts plus an estimate of later period cash flows, all of which are determined by management. Subsequent period cash flows are developed for each reporting unit using growth rates that management believes are reasonably likely to occur. Under the guideline company method, the Partnership determined the estimated fair value of each of our reporting units by applying valuation multiples of comparable publicly-traded companies to each reporting unit’s projected EBITDA and then averaging that estimate with similar historical calculations using a three year average. In addition, the Partnership estimated a reasonable control premium representing the incremental value that accrues to the majority owner from the opportunity to dictate the strategic and operational actions of the business. Other Intangibles Gross carrying amounts and accumulated amortization for each major class of intangible assets, excluding goodwill, consisted of the following:
_______________________________ (1)Loan origination costs are associated with the Revolving Credit Agreement, see Note 10 "Long-Term Debt" for further information. We review amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If such a review should indicate that the carrying amount of amortizable intangible assets is not recoverable, we reduce the carrying amount of such assets to fair value. We review non-amortizable intangible assets for impairment annually, or more frequently if circumstances dictate. During the fourth quarters of 2018, 2019, and 2020, we performed the annual impairment tests on our indefinite-lived intangible assets. We recognized impairment charges of $30 million on our contractual rights in 2018, primarily due to decreases in projected future revenues and cash flows from the date the intangible asset was originally recorded. No impairments were recorded in 2019 and 2020. Total amortization expense on finite-lived intangibles included in depreciation, amortization and accretion was $57 million, $56 million and $43 million for the years ended December 31, 2020, 2019 and 2018, respectively. Customer relations and supply agreements have a remaining weighted-average life of approximately 9 years. Other intangible assets have a remaining weighted-average life of approximately 8 years. Loan origination costs have a remaining weighted-average life of approximately 3 years. As of December 31, 2020, the Partnership’s estimate of amortization includable in amortization expense and interest expense for each of the five succeeding fiscal years and thereafter for finite-lived intangibles is as follows (in millions):
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Accrued Expenses and Other Current Liabilities |
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Accrued Expenses And Other Current Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Current accrued expenses and other current liabilities consisted of the following:
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Long-Term Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt | Long-Term Debt Long-term debt consisted of the following:
At December 31, 2020, scheduled future debt principal maturities are as follows (in millions):
2018 Private Offering of Senior Notes On January 23, 2018, we and certain of our wholly-owned subsidiaries, including Sunoco Finance Corp. (together with the Partnership, the “Issuers”) completed a private offering of $2.2 billion of senior notes, comprised of $1.0 billion in aggregate principal amount of 4.875% senior notes due 2023 (the “2023 Notes”), $800 million in aggregate principal amount of 5.500% senior notes due 2026 (the “2026 Notes”) and $400 million in aggregate principal amount of 5.875% senior notes due 2028 (the “2028 Notes” and, together with the 2023 Notes and the 2026 Notes, the “Notes”). The terms of the Notes are governed by an indenture dated January 23, 2018, among the Issuers, and certain other subsidiaries of the Partnership (the “Guarantors”) and U.S. Bank National Association, as trustee. The 2023 Notes will mature on January 15, 2023 and interest is payable semi-annually on January 15 and July 15 of each year, commencing July 15, 2018. The 2026 Notes will mature on February 15, 2026 and interest is payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2018. The 2028 Notes will mature on March 15, 2028 and interest is payable semi-annually on March 15 and September 15 of each year, commencing September 15, 2018. The Notes are senior obligations of the Issuers and are guaranteed on a senior basis by all of the Partnership’s existing subsidiaries and certain of its future subsidiaries. The Notes and guarantees are unsecured and rank equally with all of the Issuers’ and each Guarantor’s existing and future senior obligations. The Notes and guarantees are effectively subordinated to the Issuers’ and each Guarantor’s secured obligations, including obligations under the Partnership’s 2018 Revolver (as defined below), to the extent of the value of the collateral securing such obligations, and structurally subordinated to all indebtedness and obligations, including trade payables, of the Partnership’s subsidiaries that do not guarantee the Notes. ETO guarantees collection to the Issuers with respect to the payment of the principal amount of the Notes. ETO is not subject to any of the covenants under the Indenture. In connection with our issuance of the Notes, we entered into a registration rights agreement with the initial purchasers pursuant to which we agreed to complete an offer to exchange the Notes for an issue of registered notes with terms substantively identical to each series of Notes and evidencing the same indebtedness as the Notes on or before January 23, 2019. The exchange offer was completed on December 3, 2018. The Partnership used the proceeds from the private offering, along with proceeds from the 7-Eleven Transaction, to: 1) redeem in full our existing senior notes as of December 31, 2017, comprised of $800 million in aggregate principal amount of 6.250% senior notes due 2021, $600 million in aggregate principal amount of 5.500% senior notes due 2020, and $800 million in aggregate principal amount of 6.375% senior notes due 2023; 2) repay in full and terminate the Term Loan; 3) pay all closing costs in connection with the 7-Eleven Transaction; 4) redeem the outstanding Series A Preferred Units held by ETE for an aggregate redemption amount of approximately $313 million; and 5) repurchase 17,286,859 SUN common units owned by subsidiaries of ETP for aggregate cash consideration of approximately $540 million. On December 9, 2020 approximately 56% of the aggregate principal amount of outstanding 2023 Notes were tendered. The tender of the 2023 Notes was funded from the proceeds of the 2020 private offering disclosed below. On January 15, 2021, we repurchased the remaining outstanding portion of our 2023 Notes. 2019 Private Offering of Senior Notes On March 14, 2019, we, our General Partner and Sunoco Finance Corp. (together with the Partnership, the “2027 Notes Issuers”) completed a private offering of $600 million in aggregate principal amount of 6.000% senior notes due 2027 (the “2027 Notes”). The terms of the 2027 Notes are governed by an indenture dated March 14, 2019, among the 2027 Notes Issuers, certain subsidiaries of the Partnership (the “2027 Notes Guarantors”) and U.S. Bank National Association, as trustee. The 2027 Notes will mature on April 15, 2027, and interest on the 2027 Notes is payable semi-annually on April 15 and October 15 of each year, commencing October 15, 2019. The 2027 Notes are senior obligations of the 2027 Notes Issuers and are guaranteed on a senior basis by all of the Partnership’s current subsidiaries (other than Sunoco Finance Corp.) that guarantee its obligations under the 2018 Revolver (as defined below) and certain of its future subsidiaries. The 2027 Notes and guarantees are unsecured and rank equally with all of the 2027 Notes Issuers’ and each 2027 Notes Guarantor’s existing and future senior obligations. The 2027 Notes and guarantees are effectively subordinated to the 2027 Notes Issuers’ and each 2027 Notes Guarantor’s secured obligations, including obligations under the 2018 Revolver (as defined below), to the extent of the value of the collateral securing such obligations, and structurally subordinated to all indebtedness and obligations, including trade payables, of the Partnership’s subsidiaries that do not guarantee the 2027 Notes. In connection with our issuance of the 2027 Notes, we entered into a registration rights agreement with the initial purchasers pursuant to which we agreed to complete an offer to exchange the 2027 Notes for an issue of registered notes with terms substantively identical to the 2027 Notes and evidencing the same indebtedness as the 2027 Notes on or before March 14, 2020. The exchange offer was completed on July 17, 2019. The Partnership used the proceeds from the private offering to repay a portion of the outstanding borrowings under our 2018 Revolver (as defined below). 2020 Private Offering of Senior Notes On November 9, 2020, we, our General Partner and Sunoco Finance Corp. (together with the Partnership, the “2029 Notes Issuers”) completed a private offering of $800 million in aggregate principal amount of 4.500% senior notes due 2029 (the “2029 Notes”). The terms of the 2029 Notes are governed by an indenture dated November 9, 2020, among the 2029 Notes Issuers, certain subsidiaries of the Partnership (the “2029 Notes Guarantors”) and U.S. Bank National Association, as trustee. The 2029 Notes will mature on May 15, 2029, and interest on the 2029 Notes is payable semi-annually on May 15 and November 15 of each year, commencing May 15, 2021. The 2029 Notes are senior obligations of the 2029 Notes Issuers and are guaranteed on a senior basis by all of the Partnership’s current subsidiaries (other than Sunoco Finance Corp.) that guarantee its obligations under the 2018 Revolver (as defined below) and certain of its future subsidiaries. The 2029 Notes and guarantees are unsecured and rank equally with all of the 2029 Notes Issuers’ and each 2029 Notes Guarantor’s existing and future senior obligations. The 2029 Notes and guarantees are effectively subordinated to the 2029 Notes Issuers’ and each 2029 Notes Guarantor’s secured obligations, including obligations under the 2018 Revolver (as defined below), to the extent of the value of the collateral securing such obligations, and structurally subordinated to all indebtedness and obligations, including trade payables, of the Partnership’s subsidiaries that do not guarantee the 2029 Notes. In connection with our issuance of the 2029 Notes, we entered into a registration rights agreement with the initial purchasers pursuant to which we agreed to complete an offer to exchange the 2029 Notes for an issue of registered notes with terms substantively identical to the 2029 Notes and evidencing the same indebtedness as the 2029 Notes on or before November 9, 2021. The Partnership used the proceeds from the private offering to fund the repurchase of a portion of the 2023 Notes and to repay the outstanding balance on the 2018 Revolver. Revolving Credit Agreement On July 27, 2018, we entered into a new Amended and Restated Credit Agreement among the Partnership, as borrower, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent, collateral agent, swingline lender and a line of credit issuer (the “2018 Revolver”). Borrowings under the 2018 Revolver were used to pay off the Partnership’s existing revolving credit facility entered into on September 25, 2014. The 2018 Revolver is a $1.50 billion revolving credit facility, expiring July 27, 2023 (which date may be extended in accordance with the terms of the 2018 Revolver). The facility can be increased from time to time upon the Partnership’s written request, subject to certain conditions, up to an additional $750 million. Borrowings under the revolving credit facility will bear interest at a base rate (a rate based off of the higher of (a) the Federal Funds Rate (as defined in the 2018 Revolver) plus 0.5%, (b) Bank of America’s prime rate and (c) one-month LIBOR (as defined therein) plus 1.00%) or LIBOR, in each case plus an applicable margin ranging from 1.25% to 2.25%, in the case of a LIBOR loan, or from 0.250% to 1.25%, in the case of a base rate loan (determined with reference to the Partnership’s Net Leverage Ratio as defined in the 2018 Revolver). Upon the first achievement by the Partnership of an investment grade credit rating, the applicable margin will decrease to a range of 1.125% to 1.75%, in the case of a LIBOR loan, or from 0.125% to 0.750%, in the case of a base rate loan (determined with reference to the credit rating for the Partnership’s senior, unsecured, non-credit enhanced long-term debt and the Partnership’s corporate issuer rating). Interest is payable quarterly if the base rate applies, at the end of the applicable interest period if LIBOR applies and at the end of the month if daily floating LIBOR applies. In addition, the unused portion of the Partnership’s revolving credit facility will be subject to a commitment fee ranging from 0.250% to 0.350%, based on the Partnership’s Leverage Ratio. Upon the first achievement by the Partnership of an investment grade credit rating, the commitment fee will decrease to a range of 0.125% to 0.350%, based on the Partnership’s credit rating as described above. The 2018 Revolver requires the Partnership to maintain a Net Leverage Ratio of not more than 5.50 to 1.00. The maximum Net Leverage Ratio is subject to upwards adjustment of not more than 6.00 to 1.00 for a period not to exceed three fiscal quarters in the event the Partnership engages in certain specified acquisitions of not less than $50 million (as permitted under the 2018 Revolver). The 2018 Revolver also requires the Partnership to maintain an Interest Coverage Ratio (as defined in the 2018 Revolver) of not less than 2.25 to 1.00. Indebtedness under the 2018 Revolver is secured by a security interest in, among other things, all of the Partnership’s present and future personal property and all of the present and future personal property of its guarantors, the capital stock of its material subsidiaries (or 66% of the capital stock of material foreign subsidiaries), and any intercompany debt. Upon the first achievement by the Partnership of an investment grade credit rating, all security interests securing the 2018 Revolver will be released. As of December 31, 2020, the 2018 Revolver had no outstanding borrowings, and $8 million in standby letters of credit were outstanding. The unused availability on the 2018 Revolver at December 31, 2020 was $1.5 billion. The weighted average interest rate on the total amount outstanding at December 31, 2020 was 0.00%. The Partnership was in compliance with all financial covenants at December 31, 2020. Sale Leaseback Financing Obligation On April 4, 2013, Southside Oil, LLC (“Southside”), a subsidiary of the Partnership, completed a sale leaseback transaction with two separate companies for 50 of its dealer operated sites. As Southside did not meet the criteria for sale leaseback accounting, this transaction was accounted for as a financing arrangement over the course of the lease agreement. The obligations mature in varying dates through 2033, require monthly interest and principal payments, and bear interest at 5.125%. The obligation related to this transaction is included in current and long-term debt and the balance outstanding as of December 31, 2020 was $97 million. Fair Value of Debt The estimated fair value of debt is calculated using Level 2 inputs. The fair value of debt as of December 31, 2020, is estimated to be approximately $3.3 billion, based on outstanding balances as of the end of the period using current interest rates for similar securities.
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Other Noncurrent Liabilities |
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Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Noncurrent Liabilities | Other Noncurrent Liabilities Other noncurrent liabilities consisted of the following:
We record an asset retirement obligation for the estimated future cost to remove underground storage tanks. Revisions to the liability could occur due to changes in tank removal costs, tank useful lives or if federal and/or state regulators enact new guidance on the removal of such tanks. Changes in the carrying amount of asset retirement obligations for the years ended December 31, 2020 and 2019 were as follows:
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Revenue |
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Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Text Block] | Revenue Disaggregation of Revenue We operate our business in two primary segments, Fuel Distribution and Marketing and All Other. We disaggregate revenue within the segments by channels. The following table depicts the disaggregation of revenue by channel within each segment:
Fuel Distribution and Marketing Revenue The Partnership’s Fuel Distribution and Marketing operations earn revenue from the following channels: sales to Dealers, sales to Distributors, Unbranded Wholesale revenue, Commission Agent revenue, Non motor fuel sales, and Lease income. Motor fuel revenue consists primarily of the sale of motor fuel under supply agreements with third-party customers and affiliates. Fuel supply contracts with our customers generally provide that we distribute motor fuel at a formula price based on published rates, volume-based profit margin, and other terms specific to the agreement. The customer is invoiced the agreed-upon price with most payment terms ranging less than 30 days. If the consideration promised in a contract includes a variable amount, the Partnership estimates the variable consideration amount and factors in such an estimate to determine the transaction price under the expected value method. Revenue is recognized under the motor fuel contracts at the point in time the customer takes control of the fuel. At the time control is transferred to the customer the sale is considered final, because the agreements do not grant customers the right to return motor fuel. Under the new standard, to determine when control transfers to the customer, the shipping terms of the contract are assessed as shipping terms are considered a primary indicator of the transfer of control. For FOB shipping point terms, revenue is recognized at the time of shipment. The performance obligation with respect to the sale of goods is satisfied at the time of shipment since the customer gains control at this time under the terms. Shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs. Once the goods are shipped, the Partnership is precluded from redirecting the shipment to another customer and revenue is recognized. Commission agent revenue consists of sales from commission agent agreements between the Partnership and select operators. The Partnership supplies motor fuel to sites operated by commission agents and sells the fuel directly to the end customer. In commission agent arrangements, control of the product is transferred at the point in time when the goods are sold to the end customer. To reflect the transfer of control, the Partnership recognizes commission agent revenue at the point in time fuel is sold to the end customer. The Partnership receives lease income from leased or subleased properties. Revenues from leasing arrangements for which we are the lessor are recognized ratably over the term of the underlying lease. All Other Revenue The Partnership’s All Other operations earn revenue from the following channels: Motor fuel sales, Non motor fuel sales, and Lease income. Motor fuel sales consist of fuel sales to consumers at company-operated retail stores. Non motor fuel sales includes merchandise revenue that comprises the in-store merchandise and foodservice sales at company-operated retail stores, and other revenue that represents a variety of other services within our All Other segment including credit card processing, car washes, lottery, automated teller machines, money orders, prepaid phone cards and wireless services. Revenue from All Other operations is recognized when (or as) the performance obligations are satisfied (i.e. when the customer obtains control of the good or the service is provided). Contract Balances with Customers The Partnership satisfies its obligations by transferring goods or services in exchange for consideration from customers. The timing of performance may differ from the timing the associated consideration is paid to or received from the customer, thus resulting in the recognition of a contract asset or a contract liability. The Partnership recognizes a contract asset when making upfront consideration payments to certain customers. The upfront considerations represent a pre-paid incentive, as these payments are not made for distinct goods or services provided by the customer. The pre-payment incentives are recognized as a contract asset upon payment and amortized as a reduction of revenue over the term of the specific agreement. The Partnership recognizes a contract liability if the customer’s payment of consideration precedes the Partnership’s fulfillment of the performance obligations. We maintain some franchise agreements requiring dealers to make one-time upfront payments for long-term license agreements. The Partnership recognizes a contract liability when the upfront payment is received and recognizes revenue over the term of the license. The balances of the Partnership’s contract assets and contract liabilities as of December 31, 2020 and 2019 are as follows:
The amount of revenue recognized in the years ended December 31, 2020, 2019, and 2018 that was included in the contract liability balance at the beginning of each period was $0.2 million, $0.4 million, and $0.6 million, respectively. This amount of revenue is a result of changes in the transaction price of the Partnership’s contracts with customers. The difference in the opening and closing balances of the contract asset and contract liability primarily results from the timing difference between the Partnership’s performance and the customer’s payment. Performance Obligations At contract inception, the Partnership assesses the goods and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, the Partnership considers all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. For a contract that has more than one performance obligation, the Partnership allocates the total contract consideration to each distinct performance obligation on a relative standalone selling price basis. Revenue is recognized when (or as) the performance obligations are satisfied, that is, when the customer obtains control of the good or the service is provided. The Partnership distributes fuel under long-term contracts to branded distributors, branded and unbranded third-party dealers, and branded and unbranded retail fuel outlets. Sunoco-branded supply contracts with distributors generally have both time and volume commitments that establish contract duration. These contracts have an initial term of approximately ten years, with an estimated, volume-weighted term remaining of approximately four years. As part of the 7-Eleven Transaction, the Partnership and 7-Eleven and SEI Fuel (collectively, the “Distributor”) have entered into a 15-year take-or-pay fuel supply agreement in which the Distributor is required to purchase a volume of fuel that provides the Partnership a minimum amount of gross profit annually. We expect to recognize this revenue in accordance with the contract as we transfer control of the product to the customer. However, in case of annual shortfall we will recognize the amount payable by the Distributor at the sooner of the time at which the Distributor makes up the shortfall or becomes contractually or operationally unable to do so. The transaction price of the contract is variable in nature, fluctuating based on market conditions. The Partnership has elected to take the practical expedient not to estimate the amount of variable consideration allocated to wholly unsatisfied performance obligations. 7-Eleven is the only third-party dealer or distributor which is individually over 10% of our Fuel Distribution and Marketing segment or individually over 10%, in terms of revenue, of our aggregate business. In some contractual arrangements, the Partnership grants dealers a franchise license to operate the Partnership’s retail stores over the life of a franchise agreement. In return for the grant of the retail store license, the dealer makes a one-time nonrefundable franchise fee payment to the Partnership plus sales based royalties payable to the Partnership at a contractual rate during the period of the franchise agreement. Under the requirements of ASC Topic 606, the franchise license is deemed to be a symbolic license for which recognition of revenue over time is the most appropriate measure of progress toward complete satisfaction of the performance obligation. Revenue from this symbolic license is recognized evenly over the life of the franchise agreement. Costs to Obtain or Fulfill a Contract The Partnership recognizes an asset from the costs incurred to obtain a contract (e.g. sales commissions) only if it expects to recover those costs. On the other hand, the costs to fulfill a contract are capitalized if the costs are specifically identifiable to a contract, would result in enhancing resources that will be used in satisfying performance obligations in future, and are expected to be recovered. These capitalized costs are recorded as a part of other current assets and other noncurrent assets and are amortized as a reduction of revenue on a systematic basis consistent with the pattern of transfer of the goods or services to which such costs relate. The amount of amortization on these capitalized costs that the Partnership recognized in the years ended December 31, 2020, 2019, and 2018 was $18 million, $17 million, and $14 million, respectively. The Partnership has also made a policy election of expensing the costs to obtain a contract, as and when they are incurred, in cases where the expected amortization period is one year or less. Practical Expedients Selected by the Partnership The Partnership elected the following practical expedients in accordance with ASC 606: •Significant financing component - The Partnership elected not to adjust the promised amount of consideration for the effects of significant financing component if the Partnership expects at contract inception that the period between the transfer of a promised good or service to a customer and when the customer pays for that good or service will be one year or less. •Incremental costs of obtaining a contract - The Partnership generally expenses sales commissions when incurred because the amortization period would have been less than one year. We record these costs within general and administrative expenses. The Partnership elected to expense the incremental costs of obtaining a contract when the amortization period for such contracts would have been one year or less. •Shipping and handling costs - The Partnership elected to account for shipping and handling activities that occur after the customer has obtained control of a good as fulfillment activities (i.e., an expense) rather than as a promised service. •Measurement of transaction price - The Partnership has elected to exclude from the measurement of transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the Partnership from a customer (i.e., sales tax, value added tax, etc.). •Variable consideration of wholly unsatisfied performance obligations - The Partnership has elected to exclude the estimate of variable consideration to the allocation of wholly unsatisfied performance obligations.
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Commitments and Contingencies |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies Lessee Accounting The Partnership leases retail stores, other property, and equipment under non-cancellable operating leases whose initial terms are typically 5 to 15 years, with some having a term of 40 years or more, along with options that permit renewals for additional periods. At the inception of each, we determine if the arrangement is a lease or contains an embedded lease and review the facts and circumstances of the arrangement to classify leased assets as operating or finance under Topic 842. The Partnership has elected not to record any leases with terms of 12 months or less on the balance sheet. At this time, the majority of active leases within our portfolio are classified as operating leases under the new standard. Operating leases are included in lease right-of-use (“ROU”) assets, operating lease current liabilities, and operating lease non-current liabilities in our consolidated balance sheet. Finance leases represent a small portion of the active lease agreements and are included in ROU assets and long-term debt in our consolidated balance sheet. The ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make minimum lease payments arising from the lease for the duration of the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 year to 20 years or greater. The exercise of lease renewal options is typically at our discretion. Additionally many leases contain early termination clauses, however early termination typically requires the agreement of both parties to the lease. At lease inception, all renewal options reasonably certain to be exercised are considered when determining the lease term. At this time, the Partnership does not have leases that include options to purchase or automatic transfer of ownership of the leased property to the Partnership. The depreciable life of leased assets and leasehold improvements are limited by the expected lease term. To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable. At this time, many of our leases do not provide an implicit rate, therefore to determine the present value of minimum lease payments we use our incremental borrowing rate based on the information available at lease commencement date. The ROU assets also include any lease payments made and exclude lease incentives. Minimum rent payments are expensed on a straight-line basis over the term of the lease. In addition, some leases may require additional contingent or variable lease payments based on factors specific to the individual agreement. Variable lease payments we are typically responsible for include payment of real estate taxes, maintenance expenses and insurance. The components of lease expense consisted of the following:
Maturities of lease liabilities as of December 31, 2020 are as follows:
Lessor Accounting The Partnership leases or subleases a portion of its real estate portfolio to third-party companies as a stable source of long-term revenue. Our lessor and sublease portfolio consists mainly of operating leases with convenience store operators. At this time, most lessor agreements contain 5-year terms with renewal options to extend and early termination options based on established terms specific to the individual agreement.
Minimum future lease payments receivable as of December 31. 2020 are as follows (in millions):
Litigation and Contingencies We may, from time to time, be involved in litigation and claims arising out of our operations in the normal course of business. In the ordinary course of business, we are sometimes threatened with or named as a defendant in various lawsuits seeking actual and punitive damages for personal injury and property damage. We maintain liability insurance with insurers in amounts and with coverage and deductibles management believes are reasonable and prudent, and which are generally accepted in the industry. However, there can be no assurance that the levels of insurance protection currently in effect will continue to be available at reasonable prices or that such levels will remain adequate to protect us from material expenses related to personal injury or property damage in the future. In addition, various regulatory agencies such as tax authorities, environmental agencies, or other such agencies may perform audits or reviews to ensure proper compliance with regulations. We are not fully-insured for any claims that may arise from these various agencies and there can be no assurance that any claims arising from these activities would not have an adverse, material effect on our financial statements. Environmental Remediation We are subject to various federal, state and local environmental laws and make financial expenditures in order to comply with regulations governing underground storage tanks adopted by federal, state and local regulatory agencies. In particular, at the federal level, the Resource Conservation and Recovery Act of 1976, as amended, requires the EPA to establish a comprehensive regulatory program for the detection, prevention, and cleanup of leaking underground storage tanks (e.g. overfills, spills, and underground storage tank releases). Federal and state regulations require us to provide and maintain evidence that we are taking financial responsibility for corrective action and compensating third parties in the event of a release from our underground storage tank systems and terminals. In order to comply with these requirements, we have historically obtained private insurance in the states in which we operate. These policies provide protection from third-party liability claims. During 2020, our coverage was $10 million per occurrence and in the aggregate. Our sites continue to be covered by these policies. We are currently involved in the investigation and remediation of contamination at motor fuel storage and gasoline store sites where releases of regulated substances have been detected. We accrue for anticipated future costs and the related probable state reimbursement amounts for remediation activities. Accordingly, we have recorded estimated undiscounted liabilities for these sites totaling $20 million and $29 million as of December 31, 2020 and 2019, respectively, which are classified as accrued expenses and other current liabilities and other noncurrent liabilities. As of December 31, 2020, we had $0.76 million in an escrow account to satisfy environmental claims related to the acquisition of Mid-Atlantic Convenience Stores, LLC.
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Assets under Operating Leases |
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Assets Under Operating Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets under Operating Leases | Operating Leases The balances of property and equipment that are being leased to third parties were as follows:
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Interest Expense, net |
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Interest Income (Expense), Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense, net | Interest Expense, net Components of net interest expense were as follows:
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Income Tax Expense |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax | Income Tax Expense As a partnership, we are generally not subject to federal income tax and most state income taxes. However, the Partnership conducts certain activities through corporate subsidiaries which are subject to federal and state income taxes. The components of the federal and state income tax expense (benefit) are summarized as follows:
Our effective tax rate differs from the statutory rate primarily due to Partnership earnings that are not subject to U.S. federal and most state income taxes at the Partnership level. A reconciliation of income tax expense at the U.S. federal statutory rate to net income tax expense (benefit) is as follows:
In 2019, a current state income tax benefit (including federal benefit) of $17 million was largely attributable to a change in estimate related to state income taxes. Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. Principal components of deferred tax assets and liabilities are as follows:
As of December 31, 2020, Sunoco Property Company LLC, a corporate subsidiary of Sunoco LP, had a state net operating loss carryforward of $121 million, which we expect to fully utilize. Sunoco Property Company LLC has no federal net operating loss carryforward. The following table sets forth the changes in unrecognized tax benefits:
As of December 31, 2020, we had $11 million ($8 million after federal income tax benefits) related to tax positions which, if recognized, would impact our effective tax rate. Our policy is to accrue interest and penalties on income tax underpayments (overpayments) as a component of income tax expense. During 2020, we recognized interest and penalties of $1 million. At December 31, 2020, we had interest and penalties accrued of $1 million, net of taxes. The Partnership and its subsidiaries are no longer subject to examination by the Internal Revenue Service and most state jurisdictions for 2015 and prior years.
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Partners' Capital |
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Partners' Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital | Partners’ Capital As of December 31, 2020, ETO and its subsidiaries owned 28,463,967 common units, which constitute 28.5% of our common units. As of December 31, 2020, our fully consolidating subsidiaries owned 16,410,780 Class C units representing limited partner interests in the Partnership (the “Class C Units”) and the public owned 54,869,664 common units. Series A Preferred Units On January 25, 2018, the Partnership redeemed its previously outstanding Series A Preferred Units held by ET for an aggregate redemption amount of approximately $313 million. The redemption amount included the original consideration of $300 million and a 1% call premium plus accrued and unpaid quarterly distributions. Common Units On October 4, 2016, the Partnership entered into an equity distribution agreement for an at-the-market (“ATM”) offering with RBC Capital Markets, LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Natixis Securities Americas LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, UBS Securities LLC and Wells Fargo Securities, LLC (collectively, the “Managers”). As of December 31, 2020, $295 million of our common units remained available to be issued under the equity distribution agreement. Common unit activity for the years ended December 31, 2020 and 2019 was as follows:
Allocation of Net Income Our Partnership Agreement contains provisions for the allocation of net income and loss to the unitholders. For purposes of maintaining partner capital accounts, the Partnership Agreement specifies that items of income and loss shall be allocated among the partners in accordance with their respective percentage interest. Normal allocations according to percentage interests are made after giving effect, if any, to priority income allocations in an amount equal to incentive cash distributions allocated 100% to ETO. The calculation of net income allocated to the partners is as follows (in millions, except per unit amounts):
Class C Units The Partnership has outstanding an aggregate of 16,410,780 Class C Units, all of which are held by wholly-owned subsidiaries of the Partnership. Class C Units (i) are not convertible or exchangeable into Common Units or any other units of the Partnership and are non-redeemable; (ii) are entitled to receive distributions of available cash of the Partnership (other than available cash derived from or attributable to any distribution received by the Partnership from PropCo, the proceeds of any sale of the membership interests of PropCo, or any interest or principal payments received by the Partnership with respect to indebtedness of PropCo or its subsidiaries) at a fixed rate equal to $0.8682 per quarter for each Class C Unit outstanding, (iii) do not have the right to vote on any matter except as otherwise required by any non-waivable provision of law, (iv) are not allocated any items of income, gain, loss, deduction or credit attributable to the Partnership’s ownership of, or sale or other disposition of, the membership interests of PropCo, or the Partnership’s ownership of any indebtedness of PropCo or any of its subsidiaries (“PropCo Items”), (v) will be allocated gross income (other than from PropCo Items) in an amount equal to the cash distributed to the holders of Class C Units and (vi) will be allocated depreciation, amortization and cost recovery deductions as if the Class C Units were Common Units and 1% of certain allocations of net termination gain (other than from PropCo Items). Pursuant to the terms described above, these distributions do not have an impact on the Partnership’s consolidated cash flows and as such, are excluded from total cash distributions and allocation of limited partners’ interest in net income. Incentive Distribution Rights The following table illustrates the percentage allocations of available cash from operating surplus between our common unitholders and the holder of our IDRs based on the specified target distribution levels, after the payment of distributions to Class C unitholders. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of our IDR holder and the common unitholders in any available cash from operating surplus we distribute up to and including the corresponding amount in the column “total quarterly distribution per common unit target amount.” The percentage interests shown for our common unitholders and our IDR holder for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. ETO currently owns our IDRs.
Cash Distributions Our Partnership Agreement sets forth the calculation used to determine the amount and priority of cash distributions that the common unitholders receive. Cash distributions paid were as follows:
In January 2018, the Partnership paid a $10 million cash distribution on its previously outstanding Series A Preferred Units, which included an $8 million cash distribution for the three months ended December 31, 2017 and a $2 million cash distribution for the period from January 1, 2018 through January 25, 2018.
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Segment Reporting |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting | Segment Reporting Our financial statements reflect two reportable segments, Fuel Distribution and Marketing and All Other. After the Retail Divestment and the conversion of 207 retail sites to commission agent sites, the Partnership renamed the former Wholesale segment to Fuel Distribution and Marketing and the former Retail segment to All Other. We report Adjusted EBITDA by segment as a measure of segment performance. We define Adjusted EBITDA as net income before net interest expense, income tax expense, depreciation, amortization and accretion expense, non-cash compensation expense, gains and losses on disposal of assets and impairment charges, unrealized gains and losses on commodity derivatives, inventory adjustments, and certain other operating expenses reflected in net income that we do not believe are indicative of ongoing core operations. Fuel Distribution and Marketing Segment Our Fuel Distribution and Marketing segment purchases motor fuel primarily from independent refiners and major oil companies and supplies it to independently-operated dealer stations under long-term supply agreements, distributors and other consumers of motor fuel, and Partnership-operated stations included in our All Other segment. Also included in the Fuel Distribution and Marketing segment are motor fuel sales to commission agent locations and sales and costs related to processing transmix. We distribute motor fuels across more than 30 states throughout the East Coast, Midwest, South Central and Southeast regions of the United States from Maine to Florida and from Florida to New Mexico, as well as Hawaii. Sales of fuel from our Fuel Distribution and Marketing segment to Partnership-operated stations included in our All Other segment are delivered at cost plus a profit margin. These amounts are included in intercompany eliminations of motor fuel revenue and motor fuel cost of sales. Also included in our Fuel Distribution and Marketing segment is lease income from properties that we lease or sublease. All Other Segment The operations related to assets associated with the 7-Eleven Transaction are included in discontinued operations in the following segment information. Subsequent to the completion of the 7-Eleven Transaction, the remaining All Other segment includes the Partnership’s credit card services, franchise royalties, and retail operations in Hawaii and New Jersey. The following tables present financial information by segment for the years ended December 31, 2020, 2019 and 2018. Segment Financial Data for the Year Ended December 31, 2020
________________________________ (1)Excludes depreciation, amortization and accretion. Segment Financial Data for the Year Ended December 31, 2019
________________________________ (1)Excludes depreciation, amortization and accretion. Segment Financial Data for the Year Ended December 31, 2018
________________________________ (1)Excludes depreciation, amortization and accretion. (2)Includes amounts from discontinued operations.
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Net Income per Unit |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income per Unit | Net Income per Unit Net income per unit applicable to limited partners is computed by dividing limited partners’ interest in net income by the weighted‑average number of outstanding common units. Our net income is allocated to limited partners in accordance with their respective partnership percentages, after giving effect to any priority income allocations for incentive distributions and distributions on employee unit awards. Earnings in excess of distributions are allocated to limited partners based on their respective ownership interests. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of net income per unit. In addition to the common units, we identify the IDRs as participating securities and use the two-class method when calculating net income per unit applicable to limited partners, which is based on the weighted-average number of common units outstanding during the period. Diluted net income per unit includes the effects of potentially dilutive units on our common units, consisting of unvested phantom units. A reconciliation of the numerators and denominators of the basic and diluted per unit computations is as follows:
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Selected Quarterly Financial Data (unaudited) |
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | Selected Quarterly Financial Data (unaudited) The following table sets forth certain unaudited financial and operating data for each quarter during 2020 and 2019. The unaudited quarterly information includes all normal recurring adjustments that we consider necessary for a fair presentation of the information shown.
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Summary of Significant Accounting Policies (Policies) |
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Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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Fair Value Measurements | Fair Value Measurements We use fair value measurements to measure, among other items, purchased assets, investments, leases and derivative contracts. We also use them to assess impairment of properties, equipment, intangible assets and goodwill. An asset’s fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters, or is derived from such prices or parameters. Where observable prices or inputs are not available, unobservable prices or inputs are used to estimate the current fair value, often using an internal valuation model. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the item being valued. ASC 820 “Fair Value Measurements and Disclosures” prioritizes the inputs used in measuring fair value into the following hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3 Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Cash, accounts receivable, certain other current assets, marketable securities, accounts payable, accrued expenses, and certain other current liabilities are reflected in the consolidated balance sheets at carrying amounts, which approximate the fair value due to their short term nature.
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Segment Reporting | Segment ReportingWe operate our business in two primary operating segments, Fuel Distribution and Marketing and All Other, both of which are included as reportable segments. Our Fuel Distribution and Marketing segment sells motor fuel to our All Other segment and external customers. Our All Other segment includes the Partnership’s credit card services, franchise royalties, and its retail operations in Hawaii and New Jersey. |
Acquisition Accounting | Acquisition Accounting Acquisitions of assets or entities that include inputs and processes and have the ability to create outputs are accounted for as business combinations. A purchase price allocation is recorded for tangible and intangible assets acquired and liabilities assumed based on their fair value. The excess of fair value of consideration conveyed over fair value of net assets acquired is recorded as goodwill. The consolidated statements of operations and comprehensive income (loss) for the periods presented include the results of operations for each acquisition from their respective dates of acquisition. Acquisitions of entities under common control are accounted for similar to a pooling of interests, in which the acquired assets and assumed liabilities are recognized at their historic carrying values. The results of operations of affiliated businesses acquired are reflected in the Partnership’s consolidated results of operations beginning on the date of common control.
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Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits, and short-term investments with original maturities of three months or less. Sunoco LLC and Sunoco Retail have treasury services agreements with Sunoco (R&M), LLC, an indirect wholly-owned subsidiary of ETO, for certain cash management activities. The net balance of Sunoco LLC and Sunoco Retail activity is reflected in either “Advances to affiliates” or “Advances from affiliates” on the consolidated balance sheets.
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Accounts Receivable | Accounts Receivable The majority of trade receivables are from wholesale fuel customers or from credit card companies related to retail credit card transactions. Wholesale customer credit is extended based on an evaluation of the customer’s financial condition. We maintain allowances for expected credit losses based on the best estimate of the amount of expected credit losses in existing accounts receivable. Credit losses are recorded against the allowance when accounts are deemed uncollectible. Receivables from affiliates arise from fuel sales and other miscellaneous transactions with non-consolidated affiliates. These receivables are recorded at face value, without interest or discount.
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Inventories | Inventories Fuel inventories are stated at the lower of cost or market using the last-in-first-out (“LIFO”) method. Under this methodology, the cost of fuel sold consists of actual acquisition costs, which includes transportation and storage costs. Such costs are adjusted to reflect increases or decreases in inventory quantities which are valued based on changes in LIFO inventory layers. Merchandise inventories are stated at the lower of average cost, as determined by the retail inventory method, or market. We record an allowance for shortages and obsolescence relating to merchandise inventory based on historical trends and any known changes. Shipping and handling costs are included in the cost of merchandise inventories.
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Advertising Costs | Advertising Costs Advertising costs are expensed as incurred. Advertising costs were $19 million for the year ended December 31, 2020, and $24 million for each of the years ended December 31, 2019 and 2018.
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Property and Equipment | Property and Equipment Property and equipment are recorded at cost. Depreciation is computed on a straight-line basis over the useful lives of assets, estimated to be forty years for buildings, three to fifteen years for equipment and thirty years for storage tanks. Assets under finance leases are depreciated over the life of the corresponding lease. Amortization of leasehold improvements is based upon the shorter of the remaining terms of the leases including renewal periods that are reasonably assured, or the estimated useful lives, which approximate twenty years. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Maintenance and repairs are charged to operations as incurred. Gains or losses on the disposition of property and equipment are recorded in the period incurred.
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Long-Lived Assets and Assets Held for Sale | Long-Lived Assets and Assets Held for Sale Long-lived assets are tested for possible impairment whenever events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. If such indicators exist, the estimated undiscounted future cash flows related to the asset are compared to the carrying value of the asset. If the carrying value is greater than the estimated undiscounted future cash flow amount, an impairment charge is recorded within loss on disposal of assets and impairment charges in the consolidated statements of operations and comprehensive income (loss) for amounts necessary to reduce the corresponding carrying value of the asset to fair value. The impairment loss calculations require management to apply judgment in estimating future cash flows. Properties that have been closed and other excess real property are recorded as assets held for sale, and are written down to the lower of cost or estimated net realizable value at the time we close such stores or determine that these properties are in excess and intend to offer them for sale. We estimate the net realizable value based on our experience in utilizing or disposing of similar assets and on estimates provided by our own and third-party real estate experts. Although we have not experienced significant changes in our estimate of net realizable value, changes in real estate markets could significantly impact the net values realized from the sale of assets. When we have determined that an asset is more likely than not to be sold in the next twelve months, that asset is classified as assets held for sale and included in other current assets. We had no assets classified as assets held for sale as of December 31, 2020 or 2019.
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Goodwill and Indefinite-Lived Intangible Assets | Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of consideration paid over fair value of net assets acquired. Goodwill and intangible assets acquired in a purchase business combination are recorded at fair value as of the date acquired. Acquired intangible assets determined to have an indefinite useful life are not amortized, but are instead tested for impairment at least annually, or more frequently if events and circumstances indicate that the asset might be impaired. The annual impairment test of goodwill and indefinite lived intangible assets is performed as of the first day of the fourth quarter of each fiscal year. The Partnership uses qualitative factors to determine whether it is more likely than not (likelihood of more than 50%) that the fair value of a reporting unit exceeds its carrying amount, including goodwill. Some of the qualitative factors considered in applying this test include consideration of macroeconomic conditions, industry and market conditions, cost factors affecting the business, overall financial performance of the business, and performance of the unit price of the Partnership. If qualitative factors are not deemed sufficient to conclude that the fair value of the reporting unit more likely than not exceeds its carrying value, then a one-step approach is applied in making an evaluation. The evaluation utilizes multiple valuation methodologies, including a market approach (market price multiples of comparable companies) and an income approach (discounted cash flow analysis). The computations require management to make significant estimates and assumptions, including, among other things, selection of comparable publicly traded companies, the discount rate applied to future earnings reflecting a weighted average cost of capital, and earnings growth assumptions. A discounted cash flow analysis requires management to make various assumptions about future sales, operating margins, capital expenditures, working capital, and growth rates. If the evaluation results in the fair value of the reporting unit being lower than the carrying value, an impairment charge is recorded. Indefinite-lived intangible assets are composed of certain tradenames and liquor licenses which are not amortized but are evaluated for impairment annually or more frequently if events or changes occur that suggest an impairment in carrying value, such as a significant adverse change in the business climate. Indefinite-lived intangible assets are evaluated for impairment by comparing each asset’s fair value to its book value. Management first determines qualitatively whether it is more likely than not that an indefinite‑lived asset is impaired. If management concludes that it is more likely than not that an indefinite-lived asset is impaired, then its fair value is determined by using the discounted cash flow model based on future revenues estimated to be derived in the use of the asset.
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Other Intangible Assets | Other Intangible Assets Other finite-lived intangible assets consist of supply agreements, customer relations, non-competes, and loan origination costs. Separable intangible assets that are not determined to have an indefinite life are amortized over their useful lives and assessed for impairment only if and when circumstances warrant. Determination of an intangible asset’s fair value and estimated useful life are based on an analysis of pertinent factors including (1) the use of widely-accepted valuation approaches, such as the income approach or the cost approach, (2) the expected use of the asset by the Partnership, (3) the expected useful life of related assets, (4) any legal, regulatory or contractual provisions, including renewal or extension period that would cause substantial costs or modifications to existing agreements, and (5) the effects of obsolescence, demand, competition, and other economic factors. Should any of the underlying assumptions indicate that the value of the intangible assets might be impaired, we may be required to reduce the carrying value and remaining useful life of the asset. If the underlying assumptions governing the amortization of an intangible asset were later determined to have significantly changed, we may be required to adjust its amortization period to reflect a new estimate of its useful life. Any write‑down of the value or unfavorable change in the useful life of an intangible asset would increase expense at that time. Customer relations and supply agreements are amortized on a straight-line basis over the remaining terms of the agreements, which generally range from five to twenty years. Non-competition agreements are amortized over the terms of the respective agreements, and loan origination costs are amortized over the life of the underlying debt as an increase to interest expense.
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Asset Retirement Obligations | Asset Retirement Obligations The estimated future cost to remove an underground storage tank is recognized over the estimated useful life of the storage tank. We record a discounted liability for the future fair value of an asset retirement obligation along with a corresponding increase to the carrying value of the related long-lived asset at the time an underground storage tank is installed. We then depreciate the amount added to property and equipment and recognize accretion expense in connection with the discounted liability over the remaining life of the tank. We base our estimates of the anticipated future costs for tank removal on our prior experience with removals. We review assumptions for computing the estimated liability for tank removal on an annual basis. Any change in estimated cash flows are reflected as an adjustment to both the liability and the associated asset. Long-lived assets related to asset retirement obligations aggregated $18 million and $20 million, and were reflected as property and equipment, net on our consolidated balance sheets as of December 31, 2020 and 2019, respectively.
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Environmental Liabilities | Environmental Liabilities Environmental expenditures related to existing conditions, resulting from past or current operations, and from which no current or future benefit is discernible, are expensed. Expenditures that extend the life of the related property or prevent future environmental contamination are capitalized. We determine and establish a liability on a site-by-site basis when it is probable and can be reasonably estimated. A related receivable is recorded for estimable and probable reimbursements.
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Revenue Recognition | Revenue Recognition Revenue from motor fuel is recognized either at the time fuel is delivered to the customer or at the time of sale. Shipment and delivery of motor fuel generally occurs on the same day. The Partnership charges wholesale customers for third-party transportation costs, which are recorded net in cost of sales. Through PropCo, our wholly-owned corporate subsidiary, we sell motor fuel to customers on a commission agent basis, in which we retain title to inventory, control access to and sale of fuel inventory, and recognize revenue at the time the fuel is sold to the end customer. In our Fuel Distribution and Marketing segment, we derive additional income from lease income, propane and lubricating oils, and other ancillary product and service offerings. In our All Other segment, we derive other income from merchandise, lottery ticket sales, money orders, prepaid phone cards and wireless services, ATM transactions, car washes, and other ancillary product and service offerings. We record revenue from other retail transactions on a net commission basis when a product is sold and/or services are rendered.
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Lease Income | Lease Income Lease income from operating leases is recognized on a straight-line basis over the term of the lease.
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Cost of Sales | Cost of Sales We include in cost of sales all costs incurred to acquire fuel and merchandise, including the costs of purchasing, storing, and transporting inventory prior to delivery to our customers. Items are removed from inventory and are included in cost of sales based on the retail inventory method for merchandise and the LIFO method for motor fuel. Cost of sales does not include depreciation of property and equipment as amounts attributed to cost of sales would not be significant. Depreciation is classified within operating expenses in the consolidated statements of operations and comprehensive income (loss).
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Motor Fuel and Sales Taxes | Motor Fuel and Sales Taxes Certain motor fuel and sales taxes are collected from customers and remitted to governmental agencies either directly by the Partnership or through suppliers. The Partnership’s accounting policy for wholesale direct sales to dealers, distributors and commercial customers is to exclude the collected motor fuel tax from sales and cost of sales. For retail locations where the Partnership holds inventory, including commission agent locations, motor fuel sales and motor fuel cost of sales include motor fuel taxes. Such amounts were $301 million, $386 million and $370 million, for the years ended December 31, 2020, 2019 and 2018, respectively. Merchandise sales and cost of merchandise sales are reported net of sales tax in the consolidated statements of operations and comprehensive income (loss).
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Deferred Branding Incentives | Deferred Branding Incentives We receive payments for branding incentives related to fuel supply contracts. Unearned branding incentives are deferred and amortized on a straight-line basis over the term of the agreement as a credit to cost of sales.
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Lease Accounting | Lease Accounting At the inception of each lease arrangement, we determine if the arrangement is a lease or contains an embedded lease and review the facts and circumstances of the arrangement to classify lease assets as operating or finance leases under Topic 842. The Partnership has elected not to record any leases with terms of 12 months or less on the balance sheet. Balances related to operating leases are included in operating lease ROU assets, accrued expenses and other current liabilities, operating lease current liabilities and non-current operating lease liabilities in our consolidated balance sheets. Finance leases represent a small portion of the active lease agreements and are included in finance lease ROU assets, current maturities of long-term debt and long-term debt, less current maturities in our consolidated balance sheets. The ROU assets represent the Partnership’s right to use an underlying asset for the lease term and lease liabilities represent the obligation of the Partnership to make minimum lease payments arising from the lease for the duration of the lease term. The Partnership leases a portion of its properties under non-cancelable operating leases, whose initial terms are typically five to fifteen years, with options permitting renewal for additional periods. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or greater. The exercise of lease renewal options is typically at the sole discretion of the Partnership and lease extensions are evaluated on a lease-by-lease basis. Leases containing early termination clauses typically require the agreement of both parties to the lease. At the inception of a lease, all renewal options reasonably certain to be exercised are considered when determining the lease term. The depreciable life of lease assets and leasehold improvements are limited by the expected lease term. To determine the present value of future minimum lease payments, we use the implicit rate when readily determinable. Presently, because many of our leases do not provide an implicit rate, the Partnership applies its incremental borrowing rate based on the information available at the lease commencement date to determine the present value of minimum lease payments. The operating and finance lease ROU assets include any lease payments made and exclude lease incentives. Minimum rent is expensed on a straight-line basis over the term of the lease, including renewal periods that are reasonably assured at the inception of the lease. The Partnership is typically responsible for payment of real estate taxes, maintenance expenses, and insurance. The Partnership also leases certain vehicles, and such leases are typically less than five years. For short-term leases (leases that have term of twelve months or less upon commencement), lease payments are recognized on a straight-line basis and no ROU assets are recorded.
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Earnings Per Unit | Earnings Per Unit In addition to limited partner units, we have identified incentive distribution rights (“IDRs”) as participating securities and compute income per unit using the two-class method under which any excess of distributions declared over net income shall be allocated to the partners based on their respective sharing of income specified in the First Amended and Restated Agreement of Limited Partnership, as amended (the “Partnership Agreement”). Net income per unit applicable to limited partners is computed by dividing limited partners’ interest in net income, after deducting any incentive distributions, distributions on Series A Preferred Units and unvested phantom unit awards, by the weighted-average number of outstanding common units.
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Stock and Unit-based Compensation | Unit-Based Compensation Under the Partnership's long-term incentive plans, various types of awards may be granted to employees, consultants, and directors of our General Partner who provide services for us. Compensation expense related to outstanding awards is recognized over the vesting period based on the grant-date fair value. The grant-date fair value is determined based on the market price of our common units on the grant date. We amortize the grant-date fair value of these awards over their vesting period using the straight-line method. Expenses related to unit-based compensation are included in general and administrative expenses.
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Income Taxes | Income Taxes The Partnership is a publicly traded limited partnership and is not taxable for federal and most state income tax purposes. As a result, our earnings or losses, to the extent not included in a taxable subsidiary, for federal and most state purposes are included in the tax returns of the individual partners. Net earnings for financial statement purposes may differ significantly from taxable income reportable to Unitholders as a result of differences between the tax basis and financial basis of assets and liabilities, differences between the tax accounting and financial accounting treatment of certain items, and due to allocation requirements related to taxable income under our Partnership Agreement. As a publicly traded limited partnership, we are subject to a statutory requirement that our “qualifying income” (as defined by the Internal Revenue Code, related Treasury Regulations, and IRS pronouncements) exceed 90% of our total gross income, determined on a calendar year basis. If our qualifying income were not to meet this statutory requirement, the Partnership would be taxed as a corporation for federal and state income tax purposes. For the years ended December 31, 2020, 2019, and 2018, our qualifying income met the statutory requirement. The Partnership conducts certain activities through corporate subsidiaries which are subject to federal, state and local income taxes. These corporate subsidiaries include Sunoco Property Company LLC (“PropCo”) and Aloha. The Partnership and its corporate subsidiaries account for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in earnings in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. The determination of the provision for income taxes requires significant judgment, use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items and the probability of sustaining uncertain tax positions. The benefits of uncertain tax positions are recorded in our financial statements only after determining a more-likely-than-not probability that the uncertain tax positions will withstand challenge, if any, from taxing authorities. When facts and circumstances change, we reassess these probabilities and record any changes through the provision for income taxes.
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Acquisitions and Divestment (Tables) |
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Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following is a summary of the allocation of the purchase price paid to the fair values of the net assets, net of cash acquired, of our acquisitions during 2018 (in millions):
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Discontinued Operations (Tables) |
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal Groups, Including Discontinued Operations [Table Text Block] | The results of operations associated with discontinued operations are presented in the following table:
_______________________________ (1)Non motor fuel sales includes merchandise sales totaling $89 million for the year ended December 31, 2018.
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Accounts Receivable, net (Tables) |
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Accounts Receivable, after Allowance for Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Receivable | Accounts receivable, net, consisted of the following:
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Inventories, net (Tables) |
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Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Inventories | Inventories, net consisted of the following:
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Property and Equipment, net (Tables) |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Property and Equipment | Property and equipment, net consisted of the following:
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Goodwill and Other Intangible Assets (Tables) |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill | Goodwill balances and activity for the years ended December 31, 2020 and 2019 consisted of the following:
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Schedule of Finite-Lived and Indefinite-Lived Intangible Assets | Gross carrying amounts and accumulated amortization for each major class of intangible assets, excluding goodwill, consisted of the following:
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Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | f December 31, 2020, the Partnership’s estimate of amortization includable in amortization expense and interest expense for each of the five succeeding fiscal years and thereafter for finite-lived intangibles is as follows (in millions):
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Accrued Expenses and Other Current Liabilities (Tables) |
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Accrued Expenses And Other Current Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accrued Liabilities | Current accrued expenses and other current liabilities consisted of the following:
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Long-Term Debt (Tables) |
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt | Long-term debt consisted of the following:
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Schedule of Maturities of Long-term Debt | At December 31, 2020, scheduled future debt principal maturities are as follows (in millions):
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Other Noncurrent Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Noncurrent Liabilities | Other noncurrent liabilities consisted of the following:
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Schedule of Change in Asset Retirement Obligation | Changes in the carrying amount of asset retirement obligations for the years ended December 31, 2020 and 2019 were as follows:
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Related-Party Transactions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions | Related party transactions with affiliates for the years ended December 31, 2020, 2019, and 2018 were as follows (in millions):
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Revenue (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue [Table Text Block] | The following table depicts the disaggregation of revenue by channel within each segment:
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Contract with Customer, Asset and Liability [Table Text Block] | The balances of the Partnership’s contract assets and contract liabilities as of December 31, 2020 and 2019 are as follows:
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lease, Cost [Table Text Block] | The components of lease expense consisted of the following:
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Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities as of December 31, 2020 are as follows:
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Operating Lease, Lease Income [Table Text Block] |
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Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | Minimum future lease payments receivable as of December 31. 2020 are as follows (in millions):
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Assets under Operating Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets Under Operating Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Property Subject to or Available for Operating Lease | The balances of property and equipment that are being leased to third parties were as follows:
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Interest Expense, net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income (Expense), Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Interest Expense | Components of net interest expense were as follows:
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Income Tax Expense (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Federal and State Components of Income Tax Expense (Benefit) | The components of the federal and state income tax expense (benefit) are summarized as follows:
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Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense at the U.S. federal statutory rate to net income tax expense (benefit) is as follows:
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Schedule of Principal Components of Deferred Tax Assets (Liabilities) | Deferred taxes result from the temporary differences between financial reporting carrying amounts and the tax basis of existing assets and liabilities. Principal components of deferred tax assets and liabilities are as follows:
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Summary of Income Tax Contingencies [Table Text Block] | The following table sets forth the changes in unrecognized tax benefits:
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Partners' Capital (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Common Unit Activity | As of December 31, 2020, $295 million of our common units remained available to be issued under the equity distribution agreement. Common unit activity for the years ended December 31, 2020 and 2019 was as follows:
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Schedule of Net Income Allocation By Partners | The calculation of net income allocated to the partners is as follows (in millions, except per unit amounts):
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Schedule of Incentive Distribution Rights to Limited Partners |
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Distributions Made to Limited Partner, by Distribution | Cash distributions paid were as follows:
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Unit-Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | Phantom unit award activity for the years ended December 31, 2020 and 2019 consisted of the following:
|
Segment Reporting (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | The following tables present financial information by segment for the years ended December 31, 2020, 2019 and 2018. Segment Financial Data for the Year Ended December 31, 2020
________________________________ (1)Excludes depreciation, amortization and accretion. Segment Financial Data for the Year Ended December 31, 2019
________________________________ (1)Excludes depreciation, amortization and accretion. Segment Financial Data for the Year Ended December 31, 2018
|
Net Income per Unit (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Income per Unit, Basic and Diluted | A reconciliation of the numerators and denominators of the basic and diluted per unit computations is as follows:
|
Selected Quarterly Financial Data (unaudited) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information [Table Text Block] | The following table sets forth certain unaudited financial and operating data for each quarter during 2020 and 2019. The unaudited quarterly information includes all normal recurring adjustments that we consider necessary for a fair presentation of the information shown.
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Discontinued Operations (Narrative) (Details) - 7-Eleven Transaction [Member] - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Jan. 23, 2018 |
Dec. 31, 2018 |
|
Discontinued Operation, Period of Continuing Involvement after Disposal | 15 years | |
Intra-entity revenue previously eliminated in consolidation | $ 199 | |
Transaction cost | $ 3 |
Accounts Receivable, net (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for doubtful accounts | $ (7) | $ (2) |
Accounts receivable, net | 295 | 399 |
Trade Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable, gross, current | 239 | 337 |
Credit Card Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable, gross, current | 24 | 29 |
Vendor receivables for rebates, branding and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable, gross, current | 26 | 19 |
Other Receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable, gross, current | $ 13 | $ 16 |
Inventories, net (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Inventory Disclosure [Abstract] | ||
Fuel | $ 374 | $ 412 |
Other | 8 | 7 |
Inventories, net | 382 | 419 |
Inventory Write-down | 82 | |
Inventory Valuation Reserves | $ 311 | $ 229 |
Property and Equipment, net (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 2,231 | $ 2,134 |
Less: accumulated depreciation | 806 | 692 |
Property and equipment, net | 1,425 | 1,442 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 512 | 515 |
Building and Building Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 741 | 754 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 951 | 830 |
Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 27 | $ 35 |
Property and Equipment, net - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 122 | $ 121 | $ 129 |
Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Goodwill [Roll Forward] | ||
Beginning Balance | $ 1,555 | $ 1,559 |
Goodwil adjustments related to acquisition | (4) | |
Goodwill related to acquisition | 9 | |
Ending Balance | 1,564 | 1,555 |
Fuel Distribution and Marketing [Member] | ||
Goodwill [Roll Forward] | ||
Beginning Balance | 1,193 | 1,197 |
Goodwil adjustments related to acquisition | (4) | |
Ending Balance | 1,202 | 1,193 |
All Other [Member] | ||
Goodwill [Roll Forward] | ||
Beginning Balance | 362 | 362 |
Goodwil adjustments related to acquisition | 0 | |
Goodwill related to acquisition | 0 | |
Ending Balance | 362 | $ 362 |
NY Terminal Acquisition [Member] | Fuel Distribution and Marketing [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill related to acquisition | $ 9 |
Goodwill and Other Intangible Assets (Goodwill Narrative) (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2020
USD ($)
| |
All Other [Member] | |
Goodwill [Line Items] | |
Goodwill, Transfers | $ 316 |
Goodwill and Other Intangible Assets (Intangible Assets Schedule) (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
||
---|---|---|---|---|
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Accumulated Amortization | $ 306 | $ 260 | ||
Net Book Value | 276 | |||
Intangible Assets, Gross (Excluding Goodwill) | 894 | 906 | ||
Intangible assets, net | 588 | 646 | ||
Customer Contracts [Member] | ||||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Gross Carrying Amount | 569 | 580 | ||
Accumulated Amortization | 296 | 252 | ||
Net Book Value | 273 | 328 | ||
Deferred Loan Origination Costs [Member] | ||||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Gross Carrying Amount | [1] | 9 | 9 | |
Accumulated Amortization | [1] | 4 | 3 | |
Net Book Value | [1] | 5 | 6 | |
Other Intangible Assets [Member] | ||||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Gross Carrying Amount | 9 | 10 | ||
Accumulated Amortization | 6 | 5 | ||
Net Book Value | 3 | 5 | ||
Trade Names [Member] | ||||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Gross Carrying Amount | 295 | 295 | ||
Accumulated Amortization | 0 | 0 | ||
Net Book Value | 295 | 295 | ||
Liquor Licenses [Member] | ||||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | ||||
Gross Carrying Amount | 12 | 12 | ||
Accumulated Amortization | 0 | 0 | ||
Net Book Value | $ 12 | $ 12 | ||
|
Goodwill and Other Intangible Assets (Intangible Amortization Schedule) (Details) $ in Millions |
Dec. 31, 2020
USD ($)
|
---|---|
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization, 2021 | $ 53 |
Amortization, 2022 | 43 |
Amortization, 2023 | 38 |
Amortization, 2024 | 28 |
Amortization, 2025 | 17 |
Amortization, thereafter | 97 |
Net Book Value | 276 |
Interest, 2021 | 2 |
Interest, 2022 | 2 |
Interest, 2023 | 1 |
Interest, 2024 | 0 |
Interest, 2025 | 0 |
Interest, thereafter | 0 |
Total | $ 5 |
Goodwill and Other Intangible Assets (Other Intangible Assets Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | |||
Amortization of Intangible Assets | $ 57 | $ 56 | $ 43 |
Contractual Rights [Member] | |||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | |||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 30 | ||
Customer Contracts [Member] | |||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 9 years | ||
Other Intangible Assets [Member] | |||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 8 years | ||
Deferred Loan Origination Costs [Member] | |||
Finite And Indefinite Lived Intangible Asset By Major Class [Line Items] | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 3 years |
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Accrued Expenses And Other Current Liabilities [Abstract] | ||
Wage and other employee-related accrued expenses | $ 23 | $ 32 |
Accrued tax expense | 135 | 42 |
Accrued insurance | 24 | 27 |
Accrued interest expense | 49 | 57 |
Dealer deposits | 22 | 23 |
Accrued environmental expense | 4 | 6 |
Other | 25 | 32 |
Total | $ 282 | $ 219 |
Long-Term Debt (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Nov. 09, 2020 |
Dec. 31, 2019 |
Mar. 14, 2019 |
Jan. 23, 2018 |
Apr. 07, 2016 |
Jul. 20, 2015 |
Apr. 01, 2015 |
---|---|---|---|---|---|---|---|---|
Debt Instrument [Line Items] | ||||||||
Sale leaseback financing obligation | $ 97 | $ 103 | ||||||
Finance Lease, Liability | 6 | 32 | ||||||
Total debt | 3,139 | 3,097 | ||||||
Less: current maturities | 6 | 11 | ||||||
Less: debt issuance costs | (27) | (26) | ||||||
Long-term debt, net of current maturities | 3,106 | 3,060 | ||||||
Two Thousand Eighteen Revolver [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Line of Credit | 162 | |||||||
Senior Notes [Member] | Four Point Eight Seven Five Percentage Senior Notes Due Two Thousand Twenty Three [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior notes | $ 436 | 1,000 | ||||||
Stated interest rate | 4.875% | 4.875% | ||||||
Senior Notes [Member] | Five Point Five Zero Zero Percentage Senior Notes Due Two Thousand Twenty Six [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior notes | $ 800 | 800 | ||||||
Stated interest rate | 5.50% | 5.50% | ||||||
Senior Notes [Member] | Six Percentage Senior Notes Due Two Thousand Twenty Seven [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior notes | $ 600 | 600 | ||||||
Stated interest rate | 6.00% | 6.00% | ||||||
Senior Notes [Member] | Five Point Eight Seven Five Percentage Senior Notes Due Two Thousand Twenty Eight [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior notes | $ 400 | $ 400 | ||||||
Stated interest rate | 5.875% | 5.875% | ||||||
Senior Notes [Member] | Five Point Five Zero Zero Percentage Senior Notes Due Two Thousand Twenty [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Stated interest rate | 5.50% | |||||||
Senior Notes [Member] | Six Point Three Seven Five Percentage Senior Notes Due Two Thousand Twenty Three [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Stated interest rate | 6.375% | |||||||
Senior Notes [Member] | Six Point Two Five Zero Percentage Senior Notes Due Two Thousand Twenty One [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Stated interest rate | 6.25% | |||||||
Senior Notes [Member] | Four Point Five Percentage Senior Notes Due Two Thousand Twenty Nine | ||||||||
Debt Instrument [Line Items] | ||||||||
Senior notes | $ 800 | |||||||
Stated interest rate | 4.50% | 4.50% | ||||||
Revolving Credit Facility [Member] | Two Thousand Eighteen Revolver [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Line of Credit | $ 0 |
Long-Term Debt (Maturities) (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Debt Disclosure [Abstract] | ||
2021 | $ 6 | |
2022 | 7 | |
2023 | 444 | |
2024 | 8 | |
2025 | 8 | |
Thereafter | 2,666 | |
Total debt | $ 3,139 | $ 3,097 |
Long-Term Debt (Senior Notes) (Details) - USD ($) |
Dec. 31, 2020 |
Nov. 09, 2020 |
Mar. 14, 2019 |
Feb. 07, 2018 |
Jan. 25, 2018 |
Jan. 23, 2018 |
Apr. 07, 2016 |
Jul. 20, 2015 |
Apr. 01, 2015 |
---|---|---|---|---|---|---|---|---|---|
Debt Instrument [Line Items] | |||||||||
Series A Preferred Unit, Redemption Amount | $ 313,000,000 | ||||||||
Common Unit Repurchase, Unit Repurchased | 17,286,859 | ||||||||
Common Unit Repurchase, Cash Consideration | $ 540,000,000 | ||||||||
Senior Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 2,200,000,000 | ||||||||
Senior Notes [Member] | Four Point Eight Seven Five Percentage Senior Notes Due Two Thousand Twenty Three [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 1,000,000,000.0 | ||||||||
Stated interest rate | 4.875% | 4.875% | |||||||
Senior Notes [Member] | Five Point Five Zero Zero Percentage Senior Notes Due Two Thousand Twenty Six [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 800,000,000 | ||||||||
Stated interest rate | 5.50% | 5.50% | |||||||
Senior Notes [Member] | Five Point Eight Seven Five Percentage Senior Notes Due Two Thousand Twenty Eight [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 400,000,000 | ||||||||
Stated interest rate | 5.875% | 5.875% | |||||||
Senior Notes [Member] | Six Point Two Five Zero Percentage Senior Notes Due Two Thousand Twenty One [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 800,000,000 | ||||||||
Stated interest rate | 6.25% | ||||||||
Senior Notes [Member] | Five Point Five Zero Zero Percentage Senior Notes Due Two Thousand Twenty [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 600,000,000 | ||||||||
Stated interest rate | 5.50% | ||||||||
Senior Notes [Member] | Six Point Three Seven Five Percentage Senior Notes Due Two Thousand Twenty Three [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 800,000,000 | ||||||||
Stated interest rate | 6.375% | ||||||||
Senior Notes [Member] | Six Percentage Senior Notes Due Two Thousand Twenty Seven [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 600,000,000 | ||||||||
Stated interest rate | 6.00% | 6.00% | |||||||
Senior Notes [Member] | Four Point Five Percentage Senior Notes Due Two Thousand Twenty Nine | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt face amount | $ 800,000,000 | ||||||||
Stated interest rate | 4.50% | 4.50% |
Long-Term Debt (Revolving Credit Agreement) (Details) - Two Thousand Eighteen Revolver [Member] $ in Millions |
Jul. 27, 2023 |
Jul. 27, 2018
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
---|---|---|---|---|
Debt Instrument [Line Items] | ||||
Long-term Line of Credit | $ 162 | |||
Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of Credit Facility, Initiation Date | Jul. 27, 2018 | |||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500 | |||
Additional borrowing capacity | $ 750 | |||
Leverage ratio (not more than) | 5.50 | |||
Standby letters | $ 8 | |||
Unused borrowing capacity | 1,500 | |||
Debt Instrument, Covenant, Interest Coverage Ratio | 2.25 | |||
Long-term Line of Credit | $ 0 | |||
Weighted Average Interest Rate, Amount Outstanding, 2018 Revolver | 0.00% | |||
Revolving Credit Facility [Member] | Incremental Addition To Federal Funds Rate [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.50% | |||
Revolving Credit Facility [Member] | Incremental Addition To One Month L I B O R [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 1.00% | |||
Revolving Credit Facility [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Commitment fee on unused capacity | 0.25% | |||
Business acquisition, total purchase price | $ 50 | |||
Revolving Credit Facility [Member] | Minimum [Member] | Applicable Margin On L I B O R Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 1.25% | |||
Revolving Credit Facility [Member] | Minimum [Member] | Applicable Margin On Base Rate Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.25% | |||
Revolving Credit Facility [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Commitment fee on unused capacity | 0.35% | |||
Leverage ratio (not more than) | 6.00 | |||
Revolving Credit Facility [Member] | Maximum [Member] | Applicable Margin On L I B O R Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 2.25% | |||
Revolving Credit Facility [Member] | Maximum [Member] | Applicable Margin On Base Rate Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 1.25% | |||
External Credit Rating, Investment Grade [Member] | Revolving Credit Facility [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.125% | |||
External Credit Rating, Investment Grade [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Applicable Margin On L I B O R Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 1.125% | |||
External Credit Rating, Investment Grade [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Applicable Margin On Base Rate Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Commitment fee on unused capacity | 0.125% | |||
External Credit Rating, Investment Grade [Member] | Revolving Credit Facility [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 0.75% | |||
Commitment fee on unused capacity | 0.35% | |||
External Credit Rating, Investment Grade [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Applicable Margin On L I B O R Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Basis spread on variable rate | 1.75% | |||
Subsequent Event [Member] | Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Maturity Date | Jul. 27, 2023 |
Long-Term Debt (Sale Leaseback Financing Obligation and Fair Value) (Details) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Apr. 04, 2013
company
dealer
|
|
Debt Disclosure [Abstract] | |||
Number of companies | company | 2 | ||
Number of dealer operated sites | dealer | 50 | ||
Interest rate | 5.125% | ||
Sale leaseback financing obligation | $ 97 | $ 103 | |
Long-term debt, fair value | $ 3,300 |
Other Noncurrent Liabilities - Other Noncurrent Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
---|---|---|---|
Other Liabilities Disclosure [Abstract] | |||
Reserve for underground storage tank removal | $ 75 | $ 67 | $ 54 |
Accrued environmental expense, long-term | 16 | 23 | |
Other | 18 | 7 | |
Other noncurrent liabilities | $ 109 | $ 97 |
Other Noncurrent Liabilities - Change in Assets Retirement Obligations (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Balance at beginning of year | $ 67 | $ 54 |
Liabilities incurred | 0 | 12 |
Liabilities settled | (1) | (1) |
Accretion expense | 9 | 2 |
Balance at end of year | $ 75 | $ 67 |
Related-Party Transactions (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Related Party Transaction [Line Items] | |||
Investment in unconsolidated affiliate | $ 136 | $ 121 | |
Equity in earnings of unconsolidated affiliate | 5 | 2 | $ 0 |
Sales Revenue From Wholesale Fuel Sales To Affiliates | 58 | 7 | 33 |
Bulk Fuel Purchases From Affiliates | 951 | 821 | $ 1,947 |
Advances from affiliates | 125 | 140 | |
Receivables from affiliates | 11 | 12 | |
Accounts payable to affiliates | $ 79 | $ 49 |
Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | $ 2,553 | $ 2,805 | $ 2,080 | $ 3,272 | $ 4,098 | $ 4,331 | $ 4,475 | $ 3,692 | $ 10,710 | $ 16,596 | $ 16,994 |
Non Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 240 | 278 | 360 | ||||||||
Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 10,332 | 16,176 | 16,504 | ||||||||
Lease Income [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 138 | 142 | 130 | ||||||||
Fuel Distribution and Marketing [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 17,360 | 17,281 | |||||||||
All Other [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 929 | 1,482 | |||||||||
External Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 10,710 | 16,596 | 16,994 | ||||||||
External Revenue [Member] | Non Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 240 | 278 | 360 | ||||||||
External Revenue [Member] | Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 10,332 | 16,176 | 16,504 | ||||||||
External Revenue [Member] | Lease Income [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 138 | 142 | 130 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 10,111 | 15,715 | 15,632 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Dealer Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 2,211 | 3,542 | 3,639 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Distributor Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 4,838 | 7,645 | 7,873 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Unbranded Wholesale Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 1,831 | 2,729 | 2,577 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Commission Agent Revenue [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 1,050 | 1,606 | 1,377 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Non Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 54 | 62 | 48 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 9,930 | 15,522 | 15,466 | ||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | Lease Income [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 127 | 131 | 118 | ||||||||
External Revenue [Member] | All Other [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 599 | 881 | 1,362 | ||||||||
External Revenue [Member] | All Other [Member] | Non Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 186 | 216 | 312 | ||||||||
External Revenue [Member] | All Other [Member] | Motor Fuel Sales [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | 402 | 654 | 1,038 | ||||||||
External Revenue [Member] | All Other [Member] | Lease Income [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total revenues | $ 11 | $ 11 | $ 12 |
Revenue - Contract Balances with Customers (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Contract Asset | $ 121 | $ 117 | |
Contract with Customer, Asset, Reclassified to Receivable | 4 | ||
Increase (Decrease) in Accounts Receivable | (104) | 44 | $ (201) |
Contract Liability | 0 | 0 | |
Contract with Customer, Liability, Revenue Recognized | 0 | ||
Long-term Contract with Customer [Member] | |||
Accounts receivable from contracts with customers | 256 | $ 366 | |
Increase (Decrease) in Accounts Receivable | $ (110) |
Revenue - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Jan. 23, 2018 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Revenue from Contract with Customer [Abstract] | ||||
Capitalized Contract Cost, Amortization | $ 18.0 | $ 17.0 | $ 14.0 | |
Revenue recognized that was included in the contract liability at period start | $ 0.2 | $ 0.4 | $ 0.6 | |
7-Eleven Transaction [Member] | ||||
Concentration Risk [Line Items] | ||||
Discontinued Operation, Period of Continuing Involvement after Disposal | 15 years | |||
7-Eleven | ||||
Concentration Risk [Line Items] | ||||
Concentration Risk, Customer | 7-Eleven is the only third-party dealer or distributor which is individually over 10% of our Fuel Distribution and Marketing segment or individually over 10%, in terms of revenue, of our aggregate business |
Commitments and Contingencies - Lessee Disclosures (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 40 years | |
Lease, Cost [Abstract] | ||
Operating lease cost | $ 52 | $ 53 |
Finance lease cost - Amortization of leased assets | 3 | 4 |
Finance lease cost - Interest expense | 1 | 1 |
Short term lease cost | 3 | 3 |
Variable lease cost | 6 | 5 |
Sublease income | (42) | (43) |
Net lease cost | $ 23 | $ 23 |
Lease Term and Discount Rate Abstract [Abstract] | ||
Operating leases | 24 years | 25 years |
Finance leases | 9 years | 5 years |
Operating leases | 6.00% | 6.00% |
Finance leases | 8.00% | 5.00% |
Cash paid for amount included in the measurement of lease liabilities | ||
Operating cash flows from operating leases | $ (51) | $ (52) |
Operating cash flows from finance leases | (1) | (1) |
Financing cash flows from finance leases | (3) | (4) |
Leased assets obtained in exchange for new finance lease liabilities | 0 | 28 |
Leased assets obtained in exchange for new operating lease liabilities | 12 | 20 |
Lessee, Operating Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | ||
Operating lease - 2021 | 51 | |
Operating lease - 2022 | 49 | |
Operating lease - 2023 | 47 | |
Operating lease - 2024 | 46 | |
Operating lease - 2025 | 46 | |
Operating lease - Thereafter | 823 | |
Total lease payment | 1,062 | |
Less: interest | 505 | |
Present value of lease liabilities - Operating leases | 557 | |
Finance Lease, Liability, Payment, Due, Rolling Maturity [Abstract] | ||
Finance lease - 2021 | 1 | |
Finance lease - 2022 | 1 | |
Finance lease - 2023 | 1 | |
Finance lease - 2024 | 1 | |
Finance lease -2025 | 1 | |
Finance lease - Thereafter | 4 | |
Total lease payment | 9 | |
Less: interest | 3 | |
Present value of lease liabilities - Finance leases | 6 | $ 32 |
Maturity of lease liabilities [Abstract] | ||
2021 | 52 | |
2022 | 50 | |
2023 | 48 | |
2024 | 47 | |
2025 | 47 | |
Thereafter | 827 | |
Total lease payment | 1,071 | |
Less: interest | 508 | |
Present value of lease liabilities | $ 563 | |
Maximum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 15 years | |
Lessee, Operating Lease, Renewal Term | 20 years | |
Minimum [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 5 years | |
Lessee, Operating Lease, Renewal Term | 1 year |
Commitments and Contingencies - Lessor Disclosures (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Lessor Disclosure [Abstract] | |||||||||||
Lessor, Operating Lease, Term of Contract | 5 years | 5 years | |||||||||
Total revenues | $ 2,553 | $ 2,805 | $ 2,080 | $ 3,272 | $ 4,098 | $ 4,331 | $ 4,475 | $ 3,692 | $ 10,710 | $ 16,596 | $ 16,994 |
Operating Lease, Lease Income | 138 | 142 | 130 | ||||||||
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |||||||||||
2021 | 100 | 100 | |||||||||
2022 | 64 | 64 | |||||||||
2023 | 8 | 8 | |||||||||
2024 | 3 | 3 | |||||||||
2025 | 2 | 2 | |||||||||
Thereafter | 5 | 5 | |||||||||
Total undiscounted cash flow | $ 182 | 182 | |||||||||
Fuel Distribution and Marketing [Member] | |||||||||||
Total revenues | 17,360 | 17,281 | |||||||||
All Other [Member] | |||||||||||
Total revenues | 929 | 1,482 | |||||||||
Lease Income [Member] | |||||||||||
Total revenues | $ 138 | $ 142 | $ 130 |
Commitments and Contingencies Commitments and Contingencies Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Loss Contingencies [Line Items] | ||
Environmental Remediation Insurance Per Occurrence | $ 10,000 | |
Accrual for Environmental Loss Contingencies | 20,000 | $ 29,000 |
MACS [Member] | ||
Loss Contingencies [Line Items] | ||
Escrow Deposit | $ 760 |
Assets under Operating Leases (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Operating Leased Assets [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | $ 1,305 | $ 1,259 |
Property Subject to or Available for Operating Lease, Accumulated Depreciation | (443) | (375) |
Property Subject to or Available for Operating Lease, Net | 862 | 884 |
Land [Member] | ||
Operating Leased Assets [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 410 | 410 |
Building and Building Improvements [Member] | ||
Operating Leased Assets [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 502 | 481 |
Equipment [Member] | ||
Operating Leased Assets [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | $ 393 | $ 368 |
Interest Expense And Interest Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Interest Income (Expense), Net [Abstract] | |||
Interest expense | $ 170 | $ 168 | $ 141 |
Amortization of deferred financing fees | 7 | 7 | 6 |
Interest income | (2) | (2) | (3) |
Interest expense, net | $ 175 | $ 173 | $ 144 |
Income Tax Expense (Components of Tax Expense) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Income Tax Disclosure [Abstract] | |||
Federal | $ 18 | $ 7 | $ 24 |
State | 1 | (30) | 4 |
Total current income tax expense (benefit) | 19 | (23) | 28 |
Federal | 1 | 2 | (14) |
State | 4 | 4 | 20 |
Total deferred tax expense (benefit) | 5 | 6 | 6 |
Net income tax expense (benefit) | $ 24 | $ (17) | $ 34 |
Income Tax Expense (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Tax at statutory federal rate | $ 50 | $ 62 | $ 19 |
Partnership earnings not subject to tax | (34) | (62) | (9) |
Goodwill impairment | 0 | 0 | 0 |
State and local tax, including federal expense (benefit) | 3 | (17) | 24 |
Other | 5 | 0 | 0 |
Net income tax expense (benefit) | $ 24 | $ (17) | $ 34 |
Income Tax Expense (Deferred Taxes) (Details) - USD ($) $ in Millions |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|
Income Tax Disclosure [Abstract] | ||
Net operating and other loss carry forwards | $ 4 | $ 4 |
Other | 20 | 32 |
Total deferred tax assets | 24 | 36 |
Property and equipment | 18 | 24 |
Trademarks and other intangibles | 77 | 72 |
Investments in affiliates | 33 | 39 |
Deferred Tax Liabilities, Other | 0 | 10 |
Total deferred tax liabilities | 128 | 145 |
Net deferred income tax liabilities | $ 104 | $ 109 |
Income Tax Expense (Unrecognized Tax Benefit) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, beginning balance | $ 11 | $ 0 | $ 0 |
Additions attributable to tax positions taken in the current year | 0 | 0 | 0 |
Additions attributable to tax positions taken in prior years | 0 | 11 | 0 |
Reduction attributable to tax positions taken in prior years | 0 | 0 | 0 |
Lapse of statute | 0 | 0 | 0 |
Unrecognized Tax Benefits, ending balance | $ 11 | $ 11 | $ 0 |
Income Tax Expense (Additional Information) (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2020
USD ($)
| |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 121 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 11 |
Unrecognized Tax Benefits that would Impact Effective Tax Rate, Net of Federal Benefits | 8 |
Income Tax Examination, Penalties and Interest Expense | 1 |
Income Tax Examination, Penalties and Interest Accrued | $ 1 |
Partners' Capital (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2018 |
Dec. 31, 2019 |
|
Schedule of Partners' Capital [Line Items] | |||
Equity Distribution, Remaining Available Authorized Amount | $ 295 | ||
Dividend to preferred units | $ 2 | ||
Energy Transfer Operating [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Percentage of membership interest | 28.50% | ||
Class C Units [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Eligible distribution per unit (in dollars per unit) | $ 0.8682 | ||
Distribution made to limited partner other certain allocation percentage | 1.00% | ||
Class C Units Subsidiary [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Limited partner interest, units outstanding (in units) | 16,410,780 | 16,410,780 | |
Common Units [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Limited partner interest, units outstanding (in units) | 83,333,631 | 82,665,057 | 82,985,941 |
Common Units Affiliated [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Common units outstanding (in units) | 28,463,967 | ||
Common Units - Public [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Common units outstanding (in units) | 54,869,664 | ||
Incentive Distribution Rights [Member] | Energy Transfer Operating [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Percentage of membership interest | 100.00% | ||
Common Units [Member] | Energy Transfer Operating [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Percentage of membership interest | 34.20% |
Partners' Capital (Common Unit Activity) (Details) - Common Units [Member] - shares |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Increase (Decrease) in Partners' Capital [Roll Forward] | ||
Number of common units at beginning of year (in units) | 82,985,941 | 82,665,057 |
Phantom unit vesting (in units) | 347,690 | 320,884 |
Number of common units at end of year (in units) | 83,333,631 | 82,985,941 |
Partners' Capital (Allocations of Net Income) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Schedule of Partners' Capital [Line Items] | |||
Cash distribution per unit (in dollars per unit) | $ 3.3020 | $ 3.3020 | $ 3.3020 |
Common Units [Member] | |||
Schedule of Partners' Capital [Line Items] | |||
Distributions | $ 274 | $ 273 | $ 272 |
Distributions in excess of net income | (139) | (38) | (557) |
Limited partners' interest in net income | $ 135 | $ 235 | $ (285) |
Partners' Capital (Incentive Distribution Rights) (Details) |
12 Months Ended |
---|---|
Dec. 31, 2020
$ / shares
| |
Minimum Quarterly Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | $ 0.4375 |
First Target Distribution [Member] | Minimum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.4375 |
First Target Distribution [Member] | Maximum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.503125 |
Second Target Distribution [Member] | Minimum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.503125 |
Second Target Distribution [Member] | Maximum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.546875 |
Third Target Distribution [Member] | Minimum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.546875 |
Third Target Distribution [Member] | Maximum [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | 0.656250 |
Distributions Thereafter [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Incentive Distribution Quarterly Distribution Target Amount (in dollars per unit) | $ 0.65625 |
Common Units [Member] | Minimum Quarterly Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 100.00% |
Common Units [Member] | First Target Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 100.00% |
Common Units [Member] | Second Target Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 85.00% |
Common Units [Member] | Third Target Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 75.00% |
Common Units [Member] | Distributions Thereafter [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 50.00% |
Subordinated Units [Member] | Second Target Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 15.00% |
Subordinated Units [Member] | Third Target Distribution [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 25.00% |
Subordinated Units [Member] | Distributions Thereafter [Member] | |
Distribution Made To Limited Partner [Line Items] | |
Marginal percentage interest in distributions | 50.00% |
Partners' Capital (Cash Distributions) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 19, 2021 |
Nov. 19, 2020 |
Aug. 19, 2020 |
May 19, 2020 |
Feb. 19, 2020 |
Nov. 19, 2019 |
Aug. 14, 2019 |
May 15, 2019 |
Feb. 14, 2019 |
Nov. 14, 2018 |
Aug. 15, 2018 |
May 15, 2018 |
Feb. 14, 2018 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Distribution Made To Limited Partner [Line Items] | ||||||||||||||||
Per Unit Distribution (in dollars per unit) | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | $ 0.8255 | ||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 69 | $ 69 | $ 69 | $ 69 | $ 68 | $ 68 | $ 68 | $ 68 | $ 68 | $ 68 | $ 68 | $ 82 | $ 354 | $ 353 | $ 383 | |
Partners' Capital Account, Distributions | (2) | |||||||||||||||
General Partner [Member] | ||||||||||||||||
Distribution Made To Limited Partner [Line Items] | ||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 18 | $ 18 | $ 18 | $ 18 | $ 18 | $ 18 | $ 18 | $ 18 | $ 18 | $ 17 | $ 18 | $ 21 | ||||
Subsequent Event [Member] | ||||||||||||||||
Distribution Made To Limited Partner [Line Items] | ||||||||||||||||
Per Unit Distribution (in dollars per unit) | $ 0.8255 | |||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 69 | |||||||||||||||
Subsequent Event [Member] | General Partner [Member] | ||||||||||||||||
Distribution Made To Limited Partner [Line Items] | ||||||||||||||||
Distribution Made to Limited Partner, Cash Distributions Paid | $ 18 | |||||||||||||||
Series A Preferred Units | ||||||||||||||||
Distribution Made To Limited Partner [Line Items] | ||||||||||||||||
Partners' Capital Account, Distributions | $ (2) |
Partners' Capital (Series A Preferred Units) (Details) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended |
---|---|---|---|
Jan. 25, 2018 |
Dec. 31, 2017 |
Dec. 31, 2018 |
|
Series A Preferred Unit, Redemption Amount | $ 313 | ||
Redemption of preferred units | $ 300 | ||
Partners' Capital Account, Distributions | (2) | ||
Series A Preferred Units | |||
Series A Preferred Unit, Redemption Amount | 313 | ||
Redemption of preferred units | 300 | ||
Partners' Capital Account, Distributions | (2) | ||
Series A Preferred Units | Cash Distribution | |||
Partners' Capital Account, Distributions | $ (2) | $ (8) | $ (10) |
Unit-Based Compensation - Additional Information Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Partners' Capital Account, Unit-based Payment Arrangement, Amount | $ 14 | $ 13 | $ 12 |
Phantom Share Units (PSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Fair value of phantom units vested in period | 14 | 14 | $ 12 |
Unrecognized compensation expense from nonvested phantom units | $ 19 | ||
Weighted average period over which compensation expense for nonvested phantom units will be recognized | 4 years 29 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested | $ 62 | $ 62 | |
Phantom Share Units (PSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage of phantom unit awards | 60.00% | ||
Vesting period for phantom unit awards | 3 years | ||
Phantom Share Units (PSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage of phantom unit awards | 40.00% | ||
Vesting period for phantom unit awards | 5 years |
Unit-Based Compensation - Schedule of Unit Grants Outstanding (Details) - Phantom Share Units (PSUs) [Member] - $ / shares |
12 Months Ended | |
---|---|---|
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Number of Phantom Common Units | ||
Beginning balance (in units) | 2,113,322 | 2,124,012 |
Units granted (in units) | 687,511 | 655,630 |
Units vested (in units) | 508,143 | 477,256 |
Units forfeited (in units) | 152,198 | 189,064 |
Ending balance (in units) | 2,140,492 | 2,113,322 |
Weighted-Average Grant Date Fair Value | ||
Beginning balance (in dollars per unit) | $ 29.21 | $ 29.15 |
Units granted (in dollars per unit) | 28.63 | 30.70 |
Units vested (in dollars per unit) | 30.47 | 30.04 |
Units forfeited (in dollars per unit) | 29.11 | 28.16 |
Ending balance (in dollars per unit) | $ 28.63 | $ 29.21 |
Segment Reporting - Additional Information (Details) |
12 Months Ended | |
---|---|---|
Dec. 31, 2020
segment
state
|
Apr. 02, 2018
stores
|
|
Segment Reporting Information [Line Items] | ||
Number of operating segments | segment | 2 | |
Fuel Distribution and Marketing [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of states in which entity operates | state | 30 | |
Commission Agent Revenue [Member] | ||
Segment Reporting Information [Line Items] | ||
Number of stores | stores | 207 |
Segment Reporting (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | $ 2,553 | $ 2,805 | $ 2,080 | $ 3,272 | $ 4,098 | $ 4,331 | $ 4,475 | $ 3,692 | $ 10,710 | $ 16,596 | $ 16,994 | ||
Gross profit | [1] | 1,056 | 1,216 | 1,122 | |||||||||
Total operating expenses | 639 | 752 | 777 | ||||||||||
Operating income | 144 | $ 147 | $ 208 | $ (82) | 98 | $ 117 | $ 97 | $ 152 | 417 | 464 | 345 | ||
Interest expense, net | (175) | (173) | (144) | ||||||||||
Other income (expense), net | 2 | 3 | 0 | ||||||||||
Income (loss) from continuing operations before income taxes | 236 | 296 | 92 | ||||||||||
Income tax expense (benefit) | 24 | (17) | 34 | ||||||||||
Income from continuing operations | 212 | 313 | 58 | ||||||||||
Loss from discontinued operations, net of income taxes | 0 | 0 | (265) | ||||||||||
Net income (loss) and comprehensive income (loss) | 212 | 313 | (207) | ||||||||||
Depreciation, amortization and accretion | 189 | 183 | 182 | ||||||||||
Interest expense, net | 175 | 173 | 144 | ||||||||||
Non-cash unit-based compensation expense | 14 | 13 | 12 | ||||||||||
Loss on disposal of assets and impairment charges | 2 | (68) | |||||||||||
Unrealized gain on commodity derivatives | 6 | (5) | |||||||||||
Inventory fair value adjustments | 82 | (79) | |||||||||||
Equity in earnings of unconsolidated affiliate | 5 | 2 | 0 | ||||||||||
Loss on extinguishment of debt and other, net | (13) | 0 | (109) | ||||||||||
Adjusted EBITDA related to unconsolidated affiliate | 10 | 4 | |||||||||||
Other non-cash adjustments | 17 | 14 | |||||||||||
Adjusted EBITDA | 739 | 665 | |||||||||||
Capital expenditures | 124 | 148 | |||||||||||
Total assets | 5,267 | 5,438 | 5,267 | 5,438 | |||||||||
Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 17,360 | 17,281 | |||||||||||
Gross profit | [1] | 1,001 | 831 | ||||||||||
Total operating expenses | 550 | 538 | |||||||||||
Operating income | 451 | 293 | |||||||||||
Interest expense, net | (146) | (103) | |||||||||||
Other income (expense), net | 3 | ||||||||||||
Income (loss) from continuing operations before income taxes | 310 | 81 | |||||||||||
Income tax expense (benefit) | 20 | 1 | |||||||||||
Income from continuing operations | 80 | ||||||||||||
Loss from discontinued operations, net of income taxes | 0 | ||||||||||||
Net income (loss) and comprehensive income (loss) | 290 | 80 | |||||||||||
Depreciation, amortization and accretion | 144 | ||||||||||||
Interest expense, net | 146 | 103 | |||||||||||
Non-cash unit-based compensation expense | 13 | ||||||||||||
Loss on disposal of assets and impairment charges | 0 | ||||||||||||
Unrealized gain on commodity derivatives | (5) | ||||||||||||
Inventory fair value adjustments | (79) | ||||||||||||
Equity in earnings of unconsolidated affiliate | 2 | ||||||||||||
Loss on extinguishment of debt and other, net | (109) | ||||||||||||
Adjusted EBITDA related to unconsolidated affiliate | 4 | ||||||||||||
Other non-cash adjustments | 14 | ||||||||||||
Adjusted EBITDA | 545 | ||||||||||||
Capital expenditures | 111 | ||||||||||||
Total assets | 4,189 | 4,189 | |||||||||||
All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 929 | 1,482 | |||||||||||
Gross profit | [1] | 215 | 291 | ||||||||||
Total operating expenses | 202 | 239 | |||||||||||
Operating income | 13 | 52 | |||||||||||
Interest expense, net | (27) | (41) | |||||||||||
Other income (expense), net | 0 | ||||||||||||
Income (loss) from continuing operations before income taxes | (14) | 11 | |||||||||||
Income tax expense (benefit) | (37) | 33 | |||||||||||
Income from continuing operations | (22) | ||||||||||||
Loss from discontinued operations, net of income taxes | (265) | ||||||||||||
Net income (loss) and comprehensive income (loss) | 23 | (287) | |||||||||||
Depreciation, amortization and accretion | 39 | ||||||||||||
Interest expense, net | 27 | 41 | |||||||||||
Non-cash unit-based compensation expense | 0 | ||||||||||||
Loss on disposal of assets and impairment charges | (68) | ||||||||||||
Unrealized gain on commodity derivatives | 0 | ||||||||||||
Inventory fair value adjustments | 0 | ||||||||||||
Equity in earnings of unconsolidated affiliate | 0 | ||||||||||||
Loss on extinguishment of debt and other, net | 0 | ||||||||||||
Adjusted EBITDA related to unconsolidated affiliate | 0 | ||||||||||||
Other non-cash adjustments | 0 | ||||||||||||
Adjusted EBITDA | 120 | ||||||||||||
Capital expenditures | 37 | ||||||||||||
Total assets | $ 1,249 | 1,249 | |||||||||||
Operating Segments [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 11,217 | ||||||||||||
Gross profit | [1] | 866 | |||||||||||
Total operating expenses | 497 | ||||||||||||
Operating income | 369 | ||||||||||||
Interest expense, net | (144) | ||||||||||||
Other income (expense), net | 2 | ||||||||||||
Income (loss) from continuing operations before income taxes | 219 | ||||||||||||
Income tax expense (benefit) | 11 | ||||||||||||
Net income (loss) and comprehensive income (loss) | 208 | ||||||||||||
Depreciation, amortization and accretion | 156 | ||||||||||||
Interest expense, net | 144 | ||||||||||||
Non-cash unit-based compensation expense | 14 | ||||||||||||
Loss on disposal of assets and impairment charges | 2 | ||||||||||||
Unrealized gain on commodity derivatives | 6 | ||||||||||||
Inventory fair value adjustments | 82 | ||||||||||||
Equity in earnings of unconsolidated affiliate | 5 | ||||||||||||
Loss on extinguishment of debt and other, net | (13) | ||||||||||||
Adjusted EBITDA related to unconsolidated affiliate | 10 | ||||||||||||
Other non-cash adjustments | 17 | ||||||||||||
Adjusted EBITDA | 654 | ||||||||||||
Capital expenditures | 94 | ||||||||||||
Total assets | 3,417 | 3,417 | |||||||||||
Operating Segments [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 599 | ||||||||||||
Gross profit | [1] | 190 | |||||||||||
Total operating expenses | 142 | ||||||||||||
Operating income | 48 | ||||||||||||
Interest expense, net | (31) | ||||||||||||
Other income (expense), net | 0 | ||||||||||||
Income (loss) from continuing operations before income taxes | 17 | ||||||||||||
Income tax expense (benefit) | 13 | ||||||||||||
Net income (loss) and comprehensive income (loss) | 4 | ||||||||||||
Depreciation, amortization and accretion | 33 | ||||||||||||
Interest expense, net | 31 | ||||||||||||
Non-cash unit-based compensation expense | 0 | ||||||||||||
Loss on disposal of assets and impairment charges | (4) | ||||||||||||
Unrealized gain on commodity derivatives | 0 | ||||||||||||
Inventory fair value adjustments | 0 | ||||||||||||
Equity in earnings of unconsolidated affiliate | 0 | ||||||||||||
Loss on extinguishment of debt and other, net | 0 | ||||||||||||
Adjusted EBITDA related to unconsolidated affiliate | 0 | ||||||||||||
Other non-cash adjustments | 0 | ||||||||||||
Adjusted EBITDA | 85 | ||||||||||||
Capital expenditures | 30 | ||||||||||||
Total assets | $ 1,850 | 1,850 | |||||||||||
Intersegment Eliminations [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | (1,106) | (1,693) | (1,769) | ||||||||||
Including Discontinued Operations [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Interest expense, net | (146) | ||||||||||||
Income tax expense (benefit) | 192 | ||||||||||||
Depreciation, amortization and accretion | 182 | ||||||||||||
Interest expense, net | 146 | ||||||||||||
Non-cash unit-based compensation expense | 12 | ||||||||||||
Loss on disposal of assets and impairment charges | (80) | ||||||||||||
Unrealized gain on commodity derivatives | 6 | ||||||||||||
Inventory fair value adjustments | 84 | ||||||||||||
Loss on extinguishment of debt and other, net | 129 | ||||||||||||
Other non-cash adjustments | 14 | ||||||||||||
Adjusted EBITDA | 638 | ||||||||||||
Capital expenditures | 103 | ||||||||||||
Total assets | 4,879 | ||||||||||||
Including Discontinued Operations [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Interest expense, net | (103) | ||||||||||||
Income tax expense (benefit) | 1 | ||||||||||||
Depreciation, amortization and accretion | 128 | ||||||||||||
Interest expense, net | 103 | ||||||||||||
Non-cash unit-based compensation expense | 2 | ||||||||||||
Loss on disposal of assets and impairment charges | (27) | ||||||||||||
Unrealized gain on commodity derivatives | 6 | ||||||||||||
Inventory fair value adjustments | 84 | ||||||||||||
Loss on extinguishment of debt and other, net | 109 | ||||||||||||
Other non-cash adjustments | 14 | ||||||||||||
Adjusted EBITDA | 554 | ||||||||||||
Capital expenditures | 77 | ||||||||||||
Total assets | 3,878 | ||||||||||||
Including Discontinued Operations [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Interest expense, net | (43) | ||||||||||||
Income tax expense (benefit) | 191 | ||||||||||||
Depreciation, amortization and accretion | 54 | ||||||||||||
Interest expense, net | 43 | ||||||||||||
Non-cash unit-based compensation expense | 10 | ||||||||||||
Loss on disposal of assets and impairment charges | (53) | ||||||||||||
Unrealized gain on commodity derivatives | 0 | ||||||||||||
Inventory fair value adjustments | 0 | ||||||||||||
Loss on extinguishment of debt and other, net | 20 | ||||||||||||
Other non-cash adjustments | 0 | ||||||||||||
Adjusted EBITDA | 84 | ||||||||||||
Capital expenditures | 26 | ||||||||||||
Total assets | 1,001 | ||||||||||||
Motor Fuel Sales [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 10,332 | 16,176 | 16,504 | ||||||||||
Gross profit | [1] | 764 | 906 | 796 | |||||||||
Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 817 | 673 | ||||||||||
Motor Fuel Sales [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 89 | 123 | ||||||||||
Motor Fuel Sales [Member] | Operating Segments [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 691 | |||||||||||
Motor Fuel Sales [Member] | Operating Segments [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 73 | |||||||||||
Non Motor Fuel Sales [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 240 | 278 | 360 | ||||||||||
Gross profit | [1] | 154 | 168 | 196 | |||||||||
Non Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 53 | 40 | ||||||||||
Non Motor Fuel Sales [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 115 | 156 | ||||||||||
Non Motor Fuel Sales [Member] | Operating Segments [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 48 | |||||||||||
Non Motor Fuel Sales [Member] | Operating Segments [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 106 | |||||||||||
Intersegment Sales [Member] | Intersegment Eliminations [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | (1,106) | (1,693) | (1,769) | ||||||||||
Intersegment Sales [Member] | Intersegment Eliminations [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 1,106 | 1,645 | 1,649 | ||||||||||
Intersegment Sales [Member] | Intersegment Eliminations [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 0 | 48 | 120 | ||||||||||
Lease Income [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 138 | 142 | 130 | ||||||||||
Gross profit | [1] | 138 | 142 | 130 | |||||||||
Lease Income [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 131 | 118 | ||||||||||
Lease Income [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 11 | 12 | ||||||||||
Lease Income [Member] | Operating Segments [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 127 | |||||||||||
Lease Income [Member] | Operating Segments [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Gross profit | [1] | 11 | |||||||||||
External Revenue [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 10,710 | 16,596 | 16,994 | ||||||||||
External Revenue [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 10,111 | 15,715 | 15,632 | ||||||||||
External Revenue [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 599 | 881 | 1,362 | ||||||||||
External Revenue [Member] | Motor Fuel Sales [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 10,332 | 16,176 | 16,504 | ||||||||||
External Revenue [Member] | Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 9,930 | 15,522 | 15,466 | ||||||||||
External Revenue [Member] | Motor Fuel Sales [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 402 | 654 | 1,038 | ||||||||||
External Revenue [Member] | Non Motor Fuel Sales [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 240 | 278 | 360 | ||||||||||
External Revenue [Member] | Non Motor Fuel Sales [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 54 | 62 | 48 | ||||||||||
External Revenue [Member] | Non Motor Fuel Sales [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 186 | 216 | 312 | ||||||||||
External Revenue [Member] | Lease Income [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 138 | 142 | 130 | ||||||||||
External Revenue [Member] | Lease Income [Member] | Fuel Distribution and Marketing [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | 127 | 131 | 118 | ||||||||||
External Revenue [Member] | Lease Income [Member] | All Other [Member] | |||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||
Total revenues | $ 11 | $ 11 | $ 12 | ||||||||||
|
Net Income per Unit (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Earnings Per Share Basic [Line Items] | |||||||||||
Income from continuing operations | $ 212 | $ 313 | $ 58 | ||||||||
Less: Series A Preferred units | 0 | 0 | 2 | ||||||||
Less: Incentive distribution rights | 71 | 72 | 70 | ||||||||
Less: Distributions on nonvested phantom unit awards | 6 | 6 | 6 | ||||||||
Limited partners’ interest in net income (loss) from continuing operations | 135 | 235 | (20) | ||||||||
Loss from discontinued operations, net of taxes | $ 0 | $ 0 | $ (265) | ||||||||
Common Units [Member] | |||||||||||
Weighted average limited partner units outstanding: | |||||||||||
Common units - basic | 83,062,159 | 82,755,520 | 84,299,893 | ||||||||
Common units - equivalents | 654,305 | 796,442 | 520,677 | ||||||||
Common units - diluted | 83,716,464 | 83,551,962 | 84,820,570 | ||||||||
Income (loss) from continuing operations per limited partner unit: | |||||||||||
Common - basic | $ 0.78 | $ 0.97 | $ 1.65 | $ (1.78) | $ 0.76 | $ 0.57 | $ 0.44 | $ 1.08 | $ 1.63 | $ 2.84 | $ (0.25) |
Common - diluted | $ 0.77 | $ 0.96 | $ 1.64 | $ (1.78) | $ 0.75 | $ 0.57 | $ 0.43 | $ 1.07 | 1.61 | 2.82 | (0.25) |
Loss from discontinued operations per limited partner unit: | |||||||||||
Common - basic | 0 | 0 | (3.14) | ||||||||
Common - diluted | $ 0 | $ 0 | $ (3.14) |
Selected Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 2,553 | $ 2,805 | $ 2,080 | $ 3,272 | $ 4,098 | $ 4,331 | $ 4,475 | $ 3,692 | $ 10,710 | $ 16,596 | $ 16,994 |
Operating income (loss) | 144 | 147 | 208 | (82) | 98 | 117 | 97 | 152 | 417 | 464 | 345 |
Net income (loss) | $ 83 | $ 100 | $ 157 | $ (128) | $ 83 | $ 66 | $ 55 | $ 109 | $ 212 | $ 313 | $ (207) |
Common Units [Member] | |||||||||||
Income (loss) from operations per limited partner unit: | |||||||||||
Common - basic | $ 0.78 | $ 0.97 | $ 1.65 | $ (1.78) | $ 0.76 | $ 0.57 | $ 0.44 | $ 1.08 | $ 1.63 | $ 2.84 | $ (0.25) |
Common - diluted | $ 0.77 | $ 0.96 | $ 1.64 | $ (1.78) | $ 0.75 | $ 0.57 | $ 0.43 | $ 1.07 | $ 1.61 | $ 2.82 | $ (0.25) |