XML 33 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Long-Term Debt (Narrative) (Details) - USD ($)
3 Months Ended
Apr. 01, 2020
Sep. 13, 2019
Aug. 27, 2019
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Aug. 31, 2019
Apr. 25, 2017
Debt Instrument [Line Items]                
Repayments of debt       $ 300,000 $ 5,400,000      
Line of Credit Facility, Remaining Borrowing Capacity           $ 50,000,000    
Dividend restrictions       The credit agreement contains restrictions on certain payments, including dividends, when availability under the credit agreement is less than or equal to the greater of $100 million and 25% of the lesser of the revolving commitments and the borrowing base and our fixed charge coverage ratio is less than 1 to 1.0 (unless availability under the credit agreement is greater than $100 million and 40% of the lesser of the revolving commitments and the borrowing base). As of March 31, 2020 and December 31, 2019, our ability to make restricted payments was limited as our availability under the borrowing base was less than $100 million, at $91.3 million, while our fixed charge coverage ratio was less than 1.0 to 1.0, at 0.91 subject to an annual available basket of up to $25 million which remains unused for the current period. As of March 31, 2020, the Company had a shortfall of approximately $53.9 million of our net income and retained earnigns subject to such restrictions before the fixed charge coverage ratio would exceed 1.0 to 1.0.        
Fixed charge coverage ratio       0.91        
Fixed charge coverage ratio threshold, percentage of aggregate facility commitments and borrowing base       17.50%        
Fixed charge coverage ratio threshold, amount of aggregate facility commitments and borrowing base       $ 70,000,000        
Secured debt to EBITDA ratio       0.46        
Annual available basket       $ 25,000,000        
Shortfall of net income and retained earnings       $ 53,900,000        
Minimum                
Debt Instrument [Line Items]                
Fixed charge coverage ratio       1.0        
Period for fixed charge coverage ratio threshold (in days)       3 days        
Dividend restriction threshold as amount of availability       $ 100,000,000        
Dividend restriction threshold as a percentage of revolving commitments and borrowing base       25.00%        
Dividend restrictions, fixed charge coverage ratio       1.0        
Maximum                
Debt Instrument [Line Items]                
Secured debt to EBITDA ratio       4.5        
Dividend restriction threshold as a percentage of revolving commitments and borrowing base with consideration of fixed charge coverage ratio       40.00%        
Federal Funds Rate                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       0.50%        
LIBOR                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       1.00%        
Interest period one (in months)       1 month        
Interest period two (in months)       2 months        
Interest period three (in months)       3 months        
Interest period four (in months)       6 months        
Cash                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       100.00%        
Credit Card Receivables                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       90.00%        
Investment Grade Accounts                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       90.00%        
Other Accounts                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       85.00%        
Midstream Refined Products Inventory                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       80.00%        
Refined Retail Products Inventory                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       75.00%        
Retail Merchandise Inventory                
Debt Instrument [Line Items]                
Percentage of asset available to borrow against       70.00%        
Percentage of net orderly liquidation value available to borrow against       85.00%        
ABL facility                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity             $ 325,000,000  
ABL facility | LIBOR | Minimum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       1.50%        
ABL facility | LIBOR | Maximum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       2.00%        
ABL facility | Alternate Base Rate | Minimum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       0.50%        
ABL facility | Alternate Base Rate | Maximum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       1.00%        
Term facility                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity             250,000,000  
Asset-based loan facility, portion included in current maturities       $ 250,000,000        
Proceeds borrowed from credit facility     $ 200,000,000          
Term of facility     4 years          
Repayments of debt     $ 57,000,000          
Term facility | Forecast [Member]                
Debt Instrument [Line Items]                
Debt Instrument, Periodic Payment, Principal $ 12,500,000              
Term facility | LIBOR | Minimum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       2.50%        
Term facility | LIBOR | Maximum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       2.75%        
Term facility | Alternate Base Rate | Minimum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       1.50%        
Term facility | Alternate Base Rate | Maximum                
Debt Instrument [Line Items]                
Spread over variable rate (percent)       1.75%        
Uncommitted incremental facility                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity             150,000,000  
Letters of credit                
Debt Instrument [Line Items]                
Line of credit facility, sublimit             $ 100,000,000  
Asset Based Loan Facility                
Debt Instrument [Line Items]                
Line of Credit Facility, Remaining Borrowing Capacity       $ 91,300,000        
4.75% senior notes due 2029 | Senior Notes                
Debt Instrument [Line Items]                
Senior notes, principal amount   $ 500,000,000            
Interest rate       4.75%        
4.75% senior notes due 2029 | ABL facility | Line of Credit                
Debt Instrument [Line Items]                
Interest rate   4.75%   4.75%        
5.625% Senior Notes Due 2027 | Senior Notes                
Debt Instrument [Line Items]                
Senior notes, principal amount               $ 300,000,000
Interest rate       5.625%       5.625%
Asset Based Loan Facility                
Debt Instrument [Line Items]                
Asset-based loan facility, portion included in current maturities       $ 0        
Term loan due 2023 | Senior Notes                
Debt Instrument [Line Items]                
Repayments of Senior Debt   $ 500,000,000