Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting

Summary of financial information for the reportable segments (in thousands)

Summarized financial information for the Partnership’s reportable segments is presented in the table below (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Wholesale Segment:
Sales
Gasoline and gasoline blendstocks	$	594,411	$	718,971	$	937,140	$	1,495,114
Crude oil (1)		160,595		363,880		309,097		615,990
Other oils and related products (2)		318,123		401,083		737,132		1,344,776
Total	$	1,073,129	$	1,483,934	$	1,983,369	$	3,455,880
Product margin
Gasoline and gasoline blendstocks	$	26,612	$	17,708	$	42,974	$	47,537
Crude oil (1)		(9,648)		36,828		(12,021)		52,085
Other oils and related products (2)		15,804		6,405		41,053		41,412
Total	$	32,768	$	60,941	$	72,006	$	141,034
Gasoline Distribution and Station Operations Segment:
Sales
Gasoline	$	815,634	$	906,511	$	1,431,737	$	1,603,845
Station operations (3)		101,058		98,417		186,243		181,492
Total	$	916,692	$	1,004,928	$	1,617,980	$	1,785,337
Product margin
Gasoline	$	66,999	$	53,209	$	132,386	$	114,908
Station operations (3)		49,267		45,066		92,192		81,789
Total	$	116,266	$	98,275	$	224,578	$	196,697
Commercial Segment:
Sales	$	156,378	$	191,226	$	295,662	$	417,987
Product margin	$	5,480	$	7,023	$	12,390	$	18,581
Combined sales and Product margin:
Sales	$	2,146,199	$	2,680,088	$	3,897,011	$	5,659,204
Product margin (4)	$	154,514	$	166,239	$	308,974	$	356,312
Depreciation allocated to cost of sales		(25,172)		(22,051)		(49,573)		(43,566)
Combined gross profit	$	129,342	$	144,188	$	259,401	$	312,746

(1) Crude oil consists of the Partnership’s crude oil sales and revenue from its logistics activities.

(2) Other oils and related products primarily consist of distillates, residual oil and propane.

(3) Station operations primarily consist of convenience store sales and rental income.

(4) Product margin is a non-GAAP financial measure used by management and external users of the Partnership’s consolidated financial statements to assess its business.  The table above includes a reconciliation of product margin on a combined basis to gross profit, a directly comparable GAAP measure. 

Schedule of reconciliation of the totals reported for the reportable segments to the applicable line items in the consolidated financial statements (in thousands)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Combined gross profit	$	129,342	$	144,188	$	259,401	$	312,746
Operating costs and expenses not allocated to operating segments:
Selling, general and administrative expenses		36,640		45,391		71,624		94,177
Operating expenses		75,891		72,168		148,127		140,824
Amortization expense		2,359		3,070		4,868		8,411
Net loss on sale and disposition of assets and impairment charges		2,530		213		8,635		650
Total operating costs and expenses		117,420		120,842		233,254		244,062
Operating income		11,922		23,346		26,147		68,684
Interest expense		(21,015)		(16,451)		(43,995)		(30,414)
Income tax benefit (expense)		550		719		1,470		(247)
Net (loss) income		(8,543)		7,614		(16,378)		38,023
Net loss (income) attributable to noncontrolling interest		1,233		(396)		2,044		(390)
Net income attributable to Global Partners LP	$	(7,310)	$	7,218	$	(14,334)	$	37,633

Schedule of total assets by reportable segment (in thousands)

		Wholesale		Commercial		GDSO		Unallocated		Total
June 30, 2016	$	811,817	$	1,000	$	1,363,653	$	526,499	$	2,702,969
December 31, 2015	$	774,352	$	3,224	$	1,392,397	$	493,702	$	2,663,675