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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Concentration Risk [Line Items]  
Schedule of inventories (in thousands)

 

 

 

 

 

 

 

 

 

    

2019

    

2018

 

Distillates: home heating oil, diesel and kerosene

 

$

222,202

 

$

173,403

 

Gasoline

 

 

120,958

 

 

93,534

 

Gasoline blendstocks

 

 

39,702

 

 

52,195

 

Crude oil

 

 

16,018

 

 

21,325

 

Residual oil

 

 

26,521

 

 

21,054

 

Propane and other

 

 

1,356

 

 

1,447

 

Renewable identification numbers (RINs)

 

 

1,329

 

 

1,034

 

Convenience store inventory

 

 

22,396

 

 

22,450

 

Total

 

$

450,482

 

$

386,442

 

 

Schedule of estimated useful lives of property and equipment

 

 

 

 

 

Gasoline station buildings, improvements and storage tanks

    

15-25

years

 

Buildings, docks, terminal facilities and improvements

 

5-25

years

 

Gasoline station equipment

 

 7

years

 

Fixtures, equipment and capitalized internal use software

 

3-7

years

 

 

Schedule of original contracted terms

 

 

 

 

 

Gasoline station and convenience store leases

    

1-20

years

 

Terminal lease arrangements

 

1-5

years

 

Dedicated storage facility leases

 

1-5

years

 

Barge and railcar equipment leases

 

1-10

years

 

Office space leases

 

1-12

years

 

Computer equipment, convenience store equipment and automobile leases

 

1-5

years

 

 

Reconciliation of net income and the assumed allocation of net income to the limited partners' interest for purposes of computing net income per limited partner unit (in thousands, except per unit data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2019

 

 

 

 

 

  

Common

  

General

  

 

 

 

 

 

 

 

 

Limited

 

Partner

 

 

 

 

Numerator:

 

Total

 

Partners

 

Interest

 

IDRs

 

Net income attributable to Global Partners LP

 

$

35,867

 

$

34,488

 

$

1,379

 

$

 —

 

Declared distribution

 

$

71,988

 

$

70,372

 

$

477

 

$

1,139

 

Assumed allocation of undistributed net loss

 

 

(36,121)

 

 

(35,884)

 

 

(237)

 

 

 —

 

Assumed allocation of net income

 

$

35,867

 

$

34,488

 

$

240

 

$

1,139

 

Less net income attributable to Series A preferred limited partners

 

 

 

 

 

6,728

 

 

 

 

 

 

 

Net income attributable to common limited partners

 

 

 

 

$

27,760

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common units outstanding

 

 

 

 

 

33,810

 

 

 

 

 

 

 

Dilutive effect of phantom units

 

 

 

 

 

529

 

 

 

 

 

 

 

Diluted weighted average common units outstanding

 

 

 

 

 

34,339

 

 

 

 

 

 

 

Basic net income per common limited partner unit

 

 

 

 

$

0.82

 

 

 

 

 

 

 

Diluted net income per common limited partner unit

 

 

 

 

$

0.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

 

 

 

  

Common

  

General

  

 

 

 

 

 

 

 

Limited

 

Partner

 

 

 

Numerator:

 

Total

 

Partners

 

Interest

 

IDRs

Net income attributable to Global Partners LP

 

$

103,905

 

$

102,872

 

$

1,033

 

$

Declared distribution

 

$

65,794

 

$

65,019

 

$

439

 

$

336

Assumed allocation of undistributed net income

 

 

38,111

 

 

37,853

 

 

258

 

 

Assumed allocation of net income

 

$

103,905

 

$

102,872

 

$

697

 

$

336

Less net income attributable to Series A preferred limited partners

 

 

 

 

 

2,691

 

 

 

 

 

 

Net income attributable to common limited partners

 

 

 

 

$

100,181

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common units outstanding

 

 

 

 

 

33,701

 

 

 

 

 

 

Dilutive effect of phantom units

 

 

 

 

 

271

 

 

 

 

 

 

Diluted weighted average common units outstanding

 

 

 

 

 

33,972

 

 

 

 

 

 

Basic net income per common limited partner unit

 

 

 

 

$

2.97

 

 

 

 

 

 

Diluted net income per common limited partner unit

 

 

 

 

$

2.95

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

 

  

Common

  

General

  

 

 

 

 

 

 

 

Limited

 

Partner

 

 

 

Numerator:

 

Total

 

Partners

 

Interest

 

IDRs

Net income attributable to Global Partners LP

 

$

58,752

 

$

58,358

 

$

394

 

$

Declared distribution

 

$

63,316

 

$

62,892

 

$

424

 

$

 —

Assumed allocation of undistributed net loss

 

 

(4,564)

 

 

(4,534)

 

 

(30)

 

 

 —

Assumed allocation of net income

 

$

58,752

 

$

58,358

 

$

394

 

$

 —

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common units outstanding

 

 

 

 

 

33,589

 

 

 

 

 

 

Dilutive effect of phantom units

 

 

 

 

 

45

 

 

 

 

 

 

Diluted weighted average common units outstanding

 

 

 

 

 

33,634

 

 

 

 

 

 

Basic net income per common limited partner unit

 

 

 

 

$

1.74

 

 

 

 

 

 

Diluted net income per common limited partner unit

 

 

 

 

$

1.74

 

 

 

 

 

 

 

Sales Revenue  
Concentration Risk [Line Items]  
Schedule of concentration of risk as percentage of consolidated amount

 

 

 

 

 

 

 

 

 

    

2019

    

2018

    

2017

 

Gasoline sales: gasoline and gasoline blendstocks (such as ethanol)

 

75

%  

74

%  

65

%  

Distillates (home heating oil, diesel and kerosene), residual oil and propane sales

 

21

%  

22

%  

26

%  

Crude oil sales and crude oil logistics revenue

 

 1

%  

 1

%  

 5

%  

Convenience store sales, rental income and sundries

 

 3

%  

 3

%  

 4

%  

Total

 

100

%  

100

%  

100

%  

 

Product Margin [Member]  
Concentration Risk [Line Items]  
Schedule of concentration of risk as percentage of consolidated amount

 

 

 

 

 

 

 

 

 

    

2019

    

2018

    

2017

 

Wholesale segment

 

16

%  

19

%  

23

%  

Gasoline Distribution and Station Operations segment

 

80

%  

78

%  

74

%  

Commercial segment

 

 4

%  

 3

%  

 3

%  

Total

 

100

%  

100

%  

100

%  

 

Common Limited Partners  
Concentration Risk [Line Items]  
Schedule of quarterly cash distributions

 

 

 

 

 

 

 

 

 

    

Per Unit Cash

  

  

Distribution Declared for the

 

Cash Distribution Declaration Date

  

Distribution Declared

 

 

Quarterly Period Ended

 

April 29, 2019

 

$

0.5100

 

 

March 31, 2019

 

July 26, 2019

 

$

0.5150

 

 

June 30, 2019

 

October 25, 2019

 

$

0.5200

 

 

September 30, 2019

 

January 27, 2020

 

$

0.5250

 

 

December 31, 2019

 

 

Series A Preferred Limited Partners  
Concentration Risk [Line Items]  
Schedule of quarterly cash distributions

 

 

 

 

 

 

 

 

 

    

Per Unit Cash

  

  

Distribution Declared for the

 

Cash Distribution Declaration Date

 

Distribution Declared

 

 

Quarterly Period Covering

 

January 22, 2019

 

$

0.609375

 

 

November 15, 2018 - February 14, 2019

 

April 19, 2019

 

$

0.609375

 

 

February 15, 2019 - May 14, 2019

 

July 22, 2019

 

$

0.609375

 

 

May 15, 2019 - August 14, 2019

 

October 22, 2019

 

$

0.609375

 

 

August 15, 2019 - November 14, 2019

 

January 21, 2020

 

$

0.609375

 

 

November 15, 2019 - February 14, 2020