Document And Entity Information

6 Months Ended

Jun. 30, 2013

Aug. 9, 2013

Common Units [Member]

Aug. 9, 2013

Subordinated Units [Member]

Document Information [Line Items]

Document Type

10-Q

Amendment Flag

false

Document Period End Date

Jun. 30, 2013

Document Fiscal Year Focus

2013

Document Fiscal Period Focus

Q2

Entity Registrant Name

SUSSER PETROLEUM PARTNERS LP

Entity Central Index Key

0001552275

Current Fiscal Year End Date

--12-31

Entity Filer Category

Non-accelerated Filer

Entity Common Stock, Shares Outstanding

10,939,436

Consolidated Balance Sheets (USD $)

In Thousands, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Current assets:

Cash and cash equivalents

$ 16,488

$ 6,752

Accounts receivable, net of allowance for doubtful accounts of $103 at December 31, 2012, and $286 at June 30, 2013

40,246

33,008

Receivables from affiliates

51,256

59,543

Inventories, net

22,369

2,981

Other current assets

1,416

821

Total current assets

131,775

103,105

Property and equipment, net

123,251

68,173

Other assets:

Marketable securities

95,893

148,264

Goodwill

12,936

Intangible assets, net

22,011

23,131

Other noncurrent assets

398

191

Total assets

386,264

355,800

Current liabilities:

Accounts payable

119,535

88,884

Accrued expenses and other current liabilities

4,608

1,101

Current maturities of long-term debt

24

Total current liabilities

124,167

90,009

Revolving line of credit

84,800

35,590

Long-term debt

96,928

149,241

Deferred tax liability, long-term portion

164

152

Other noncurrent liabilities

2,305

2,476

Total liabilities

308,364

277,468

Unitholders' equity:

Total unitholders' equity

77,900

78,332

Total liabilities and unitholders' equity

386,264

355,800

Common Unitholders - Public [Member]

Unitholders' equity:

Total unitholders' equity

210,247

210,462

Common Unitholders - Affiliates [Member]

Unitholders' equity:

Total unitholders' equity

(175)

Subordinated Units [Member]

Unitholders' equity:

Total unitholders' equity

$ (132,172)

$ (131,955)

Consolidated Balance Sheets (Parenthetical) (USD $)

In Thousands, except Share data, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Allowance for doubtful accounts

$ 286

$ 103

Common Unitholders - Public [Member]

Unitholders' equity:

Limited Partners' Capital Account, Units Issued

10,925,000

Limited Partners' Capital Account, Units Outstanding

10,925,000

Common Unitholders - Affiliates [Member]

Unitholders' equity:

Limited Partners' Capital Account, Units Issued

14,436

Limited Partners' Capital Account, Units Outstanding

14,436

Subordinated Units [Member]

Unitholders' equity:

Limited Partners' Capital Account, Units Issued

10,939,436

Limited Partners' Capital Account, Units Outstanding

10,939,436

Consolidated Statements Of Operations (USD $)

In Thousands, except Share data, unless otherwise specified

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Revenues:

Motor fuel sales to third parties

$ 363,318

$ 710,822

$ 466,743

$ 905,543

Motor fuel sales to affiliates

751,304

1,482,031

616,727

1,247,171

Rental income

2,276

3,905

1,355

2,719

Other income

1,207

2,506

1,686

3,731

Total revenues

1,118,105

2,199,264

1,086,511

2,159,164

Cost of sales:

Motor fuel cost of sales to third parties

357,240

698,947

455,173

886,861

Motor fuel cost of sales to affiliates

743,370

1,466,679

616,727

1,247,171

Other

539

1,126

431

1,069

Total cost of sales

1,101,149

2,166,752

1,072,331

2,135,101

Gross profit

16,956

32,512

14,180

24,063

Operating expenses:

General and administrative

3,649

7,548

3,153

5,801

Other operating

568

1,199

2,203

3,639

Rent

300

504

1,110

2,180

Loss (gain) on disposal of assets

72

94

(75)

36

Depreciation, amortization and accretion

1,837

3,658

1,892

3,776

Total operating expenses

6,426

13,003

8,283

15,432

Income from operations

10,530

19,509

5,897

8,631

Other expense:

Interest expense, net

(766)

(1,449)

(92)

(180)

Income before income taxes

9,764

18,060

5,805

8,451

Income tax expense

(84)

(153)

(2,102)

(3,074)

Net income and comprehensive income

$ 9,680

$ 17,907

$ 3,703

$ 5,377

Cash distribution per unit

$ 0.4528

$ 0.8903

Consolidated Statements Of Cash Flows (USD $)

In Thousands, unless otherwise specified

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Predecessor [Member]

Cash flows from operating activities:

Net income

$ 17,907

$ 5,377

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation, amortization and accretion

3,658

3,776

Amortization of deferred financing fees

190

0

Loss on disposal of assets and impairment charge

94

36

Non-cash stock based compensation

806

569

Deferred income tax

164

624

Changes in operating assets and liabilities, net of effects of Contribution Agreement:

Accounts receivable

(7,238)

(9,431)

Accounts receivable from affiliates

8,287

3,900

Inventories

(19,388)

(3,861)

Other assets

(803)

778

Accounts payable

30,651

9,886

Accrued liabilities

3,508

(3,784)

Other noncurrent liabilities

(324)

(415)

Net cash provided by operating activities

37,512

7,455

Cash flows from investing activities:

Capital expenditures

(57,050)

(6,475)

Purchase of intangibles

(850)

(395)

Purchase of marketable securities

(512,863)

0

Redemption of marketable securities

565,233

0

Proceeds from disposal of property and equipment

0

331

Net cash used in investing activities

(5,530)

(6,539)

Cash flows from financing activities:

Revolving line of credit, net

49,210

0

Payments on Long-term Debt

(52,312)

(11)

Distributions to Parent

(9,585)

0

Distributions to Unitholders

(9,559)

0

Net cash used in financing activities

(22,246)

(11)

Net increase in cash

9,736

905

Cash and cash equivalents at beginning of year

6,752

240

Cash and cash equivalents at end of period

$ 16,488

$ 1,145

Organization and Principles of Consolidation

The consolidated financial statements are composed of Susser Petroleum Partners LP (the "Partnership", "SUSP", "we", "us" or "our"), a publicly traded Delaware limited partnership, and its consolidated subsidiaries, which distribute motor fuels in Texas, New Mexico, Oklahoma and Louisiana. SUSP was formed in June 2012 by Susser Holdings Corporation (“SUSS” or the “Parent”) and its wholly owned subsidiary, Susser Petroleum Partners GP LLC, our general partner. On September 25, 2012, we completed our initial public offering (“IPO”) of 10,925,000 common units representing limited partner interests.

The information presented in this Quarterly Report on Form 10-Q contains the unaudited consolidated financial results of Susser Petroleum Company LLC (“Predecessor” or "SPC"), our Predecessor for accounting purposes, for periods presented through June 30, 2012.

In connection with the IPO and pursuant to the Contribution Agreement between the Partnership, the general partner, SUSS, Stripes LLC, Susser Holdings LLC and SPC (the "Contribution Agreement"), the following transactions occurred:


•	SUSS contributed to Susser Petroleum Operating Company LLC (“SPOC”) substantially all of its wholesale motor fuel distribution business, other than its motor fuel consignment business and transportation assets, which included:

•marketer, distributor and supply agreements,

•fuel supply agreements to distribute motor fuel to convenience stores and other retail fuel outlets,

•real property owned in fee and personal property,

•leases and subleases under which it was a tenant, and

•leases and subleases under which it was a landlord.


•	SPC contributed its membership interests in T&C Wholesale LLC to SPOC.


•	SPC contributed its interest in SPOC to the Partnership in exchange for 14,436 common units representing a 0.07% limited partner interest in the Partnership, 10,939,436 subordinated units representing a 50% limited partner interest in the Partnership and all of the incentive distribution rights of the Partnership.

All of the contributed Predecessor assets and liabilities were recorded at historical cost as this transaction was considered to be a reorganization of entities under common control.

The consolidated financial statements include the accounts of the Partnership and all of its subsidiaries. The Partnership operates in one operating segment, with primary operations conducted by the following consolidated wholly owned subsidiaries:


•	Susser Petroleum Operating Company LLC, a Delaware limited liability company, distributes motor fuel to SUSS' retail and consignment locations, as well as third party customers in Texas, New Mexico, Oklahoma and Louisiana.


•	T&C Wholesale LLC ("TCW"), a Texas limited liability company, distributes motor fuels, propane and lubricating oils, primarily in Texas.


•	Susser Petroleum Property Company LLC (“PropCo”), a Delaware limited liability company, formed to, among other things, own and lease convenience store properties.

All significant intercompany accounts and transactions have been eliminated in consolidation.

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The interim consolidated financial statements have been prepared from the accounting records of the Partnership and its subsidiaries, and all amounts at June 30, 2013 and for the three and six months ended June 30, 2012 and June 30, 2013 are unaudited. Pursuant to Regulation S-X, certain information and note disclosures normally included in the annual financial statements have been condensed or omitted. The information furnished reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented and which are of a normal, recurring nature.

The consolidated financial statements and notes included herein should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2012 filed with the SEC on March 29, 2013.

Initial Public Offering

Initial Public Offering Disclosure

Initial Public Offering

On September 20, 2012, the Partnership’s public common units began trading on the New York Stock Exchange under the symbol “SUSP”. On September 25, 2012, we completed the IPO of 10,925,000 common units at a price of $20.50 per unit.

Property and equipment was contributed by SUSS and its subsidiaries in exchange for:


•	14,436 common units and 10,939,436 subordinated units, representing an aggregate 50.1% limited partner interest in SUSP;


•	All of the incentive distribution rights (as discussed in SUSP's partnership agreement); and


•	An aggregate cash distribution of $206.0 million.

We received net proceeds of $206.2 million from the sale of 10,925,000 units, net of related offering expenses. Additionally, we entered into a term loan and security agreement (“SUSP Term Loan”) in which we borrowed $180.7 million and entered into a $250.0 million revolving credit agreement (“SUSP Revolver”), which together are guaranteed by SUSS in a maximum aggregate amount of $180.7 million. See Note 8 for additional information regarding our credit and term loan facilities.

Summary of Significant Accounting Policies

New Accounting Pronouncements

FASB ASU No. 2012-02. In July 2012, the FASB issued ASU No. 2012-02, "Intangibles—Goodwill and Other." This guidance permits an entity to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance affected our impairment steps only but did not have an effect on our results of operations, cash flows or related disclosures.

Accounts Receivable

Accounts receivable, excluding receivables from affiliates, consisted of the following:



	December 31, 2012			June 30, 2013
	(in thousands)
Accounts receivable, trade	$	32,906		$	40,160
Other receivables	205			372
Allowance for uncollectible accounts, trade	(103		)	(286		)
Accounts receivable, net	$	33,008		$	40,246

Accounts receivable from affiliates are $59.5 million and $51.3 million as of December 31, 2012 and June 30, 2013, respectively. For additional information regarding our affiliated receivables, see Note 15.

Inventories

Inventories consisted of the following:



	December 31, 2012		June 30, 2013
	(in thousands)
Fuel- wholesale consignment	$	1,960	$	1,536
Fuel-other wholesale	340		20,161
Other	681		672
Inventories, net	$	2,981	$	22,369

Property And Equipment

Property and Equipment

Property and equipment consisted of the following:



	December 31, 2012			June 30, 2013
	(in thousands)
Land	$	34,122		$	51,185
Buildings and leasehold improvements	23,589			53,770
Equipment	16,049			24,885
Construction in progress	2,905			3,838
Total property and equipment	76,665			133,678
Less: Accumulated depreciation	(8,492		)	(10,427		)
Property and equipment, net	$	68,173		$	123,251

Goodwill and Other Intangible Assets

Goodwill is not amortized, but is tested annually for impairment, or more frequently if events and circumstances indicate that the asset might be impaired. The annual impairment test is performed as of the first day of the fourth quarter of the fiscal year. At December 31, 2012 and June 30, 2013, we had $12.9 million of goodwill recorded in conjunction with past business combinations. The 2012 impairment analysis indicated no impairment in goodwill. As of June 30, 2013, we evaluated potential impairment indicators and we believe no indicators of impairment occurred during the second quarter of 2013, and we believe the assumptions used in the analysis performed in 2012 are still relevant and indicative of our current operating environment. As a result, no impairment was recorded to goodwill during the first six months of 2013.

The Partnership has finite‑lived intangible assets recorded that are amortized. The finite‑lived assets consist of supply agreements, favorable/unfavorable leasehold arrangements and loan origination costs, all of which are amortized over the respective lives of the agreements or over the period of time the assets are expected to contribute directly or indirectly to the Partnership's future cash flows. Supply agreements are being amortized over a weighted average period of approximately six years. Favorable/unfavorable leasehold arrangements are being amortized over an average period of approximately fourteen years. Loan origination costs are amortized over the life of the underlying debt as an increase to interest expense.

The following table presents the gross carrying amount and accumulated amortization for each major class of intangible assets, excluding goodwill, at December 31, 2012 and June 30, 2013:



	December 31, 2012						June 30, 2013
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Finite-lived
Supply agreements	$	29,803	$	8,674	$	21,129	$	30,328	$	10,123	$	20,205
Favorable leasehold arrangements, net	236		39		197		236		45		191
Loan origination costs	1,907		102		1,805		1,907		292		1,615
Other intangibles	63		63		—		—		—		—
Intangible assets, net	$	32,009	$	8,878	$	23,131	$	32,471	$	10,460	$	22,011

Long-Term Debt

Long-term debt consisted of the following:



	December 31, 2012		June 30, 2013
	(in thousands)
SUSP Term loan, bearing interest at Prime or LIBOR plus an applicable margin	$	148,166	$	95,866
SUSP Revolver, bearing interest at Prime or LIBOR plus an applicable margin	35,590		84,800
Notes payable, bearing interest at 6%	1,099		1,086
Total debt	184,855		181,752
Less: Current maturities	24		24
Long-term debt, net of current maturities	$	184,831	$	181,728

Term Loan and Security Agreement

On September 25, 2012, in connection with the IPO, we entered into a Term Loan and Security Agreement with Bank of America, N.A. for a $180.7 million term loan facility, expiring September 25, 2015 (the “Term Loan”). Borrowings under the Term Loan bear interest at (i) a base rate (a rate based off of the higher of (a) the Federal Funds Rate plus 0.5%, (b) Bank of America's prime rate or (c) LIBOR plus 1.00%) or (ii) LIBOR plus 0.25%. At June 30, 2013, the interest rate on the Term Loan was 0.44%.

In order to obtain the SUSP Term Loan on more favorable terms, SUSP pledged investment grade securities in an amount equal to or greater than 98% of the outstanding principal amount of the SUSP Term Loan (the “Collateral Account”). As of June 30, 2013, $95.9 million of commercial paper and money market fund investments collateralized the SUSP Term Loan. These investments are intended to be used to fund future capital expenditures. The SUSP Term Loan requires SUSP to, among other things (i) deliver certain financial statements, certificates and notices to Bank of America at specified times and (ii) maintain the required collateral and the liens thereon (subject to SUSP's ability to withdraw certain amounts of the collateral, as permitted under the SUSP Term Loan).

Revolving Credit Agreement

On September 25, 2012, in connection with the IPO, we entered into a $250 million revolving credit agreement with a syndicate of banks (the “SUSP Revolver”) expiring September 25, 2017. The facility can be increased from time to time upon our written request, subject to certain conditions, up to an additional $100 million. Borrowings under the revolving credit facility bear interest at a base rate plus an applicable margin ranging from 1.00% to 2.25% or (ii) LIBOR plus an applicable margin ranging from 2.00% to 3.25%, (determined with reference to our consolidated total leverage ratio). In addition, the unused portion of our revolving credit facility is subject to a commitment fee ranging from 0.375% to 0.50%, based on our consolidated total leverage ratio.

The SUSP Revolver requires us to maintain a minimum consolidated interest coverage ratio of not less than 2.50 to 1.00, and a consolidated total leverage ratio of not more than 4.50 to 1.00, subject to certain adjustments. Indebtedness under the SUSP Revolver is secured by a security interest in, among other things, all of our present and future personal property and all of the personal property of our guarantors, the capital stock of our subsidiaries, and any intercompany debt. Additionally, if our consolidated total leverage ratio exceeds 3.00 to 1.00 at the end of any fiscal quarter, we will be required, upon request of the lenders, to grant mortgage liens on all real property owned by the Partnership and its subsidiary guarantors.

As of June 30, 2013, the balance on the SUSP revolver was $84.8 million, and $12.8 million in standby letters of credit were outstanding. The unused availability on the SUSP Revolver at June 30, 2013 was $152.4 million. SUSP was in compliance with all covenants.

Guaranty by SUSS of SUSP Term Loan and SUSP Revolver

SUSS entered into a Guaranty of Collection (the “Guaranty”) in connection with the SUSP Term Loan and the SUSP Revolver. Pursuant to the Guaranty, SUSS guarantees the collection of (i) the principal amount outstanding under the SUSP Term Loan and (ii) the SUSP Revolver. SUSS' obligation under the Guaranty is limited to $180.7 million. SUSS is not required to make payments under the Guaranty unless and until (a) SUSP has failed to make a payment on a the SUSP Term Loan or SUSP Revolver, (b) the obligations under such facilities have been accelerated, (c) all remedies of the applicable lenders to collect the unpaid amounts due under such facilities, whether at law or equity, have been exhausted and (d) the applicable lenders have failed to collect the full amount owing on such facilities. In addition, SUSS entered into a Reimbursement Agreement with PropCo, whereby SUSS is obligated to reimburse PropCo for any amounts paid by PropCo under the guaranty of the SUSP Revolver executed by SUSP's subsidiaries. SUSS' exposure under this reimbursement agreement is limited, when aggregated with its obligation under the Guaranty, to $180.7 million.

Other Debt

In August 2010 our Predecessor entered into a mortgage note for an aggregate initial borrowing amount of $1.2 million. Pursuant to the terms of the mortgage note, we make monthly installment payments that are comprised of principal and interest through the maturity date of July 1, 2016. The balance outstanding at June 30, 2013 and December 31, 2012 was $1.1 million and $1.1 million, respectively. The mortgage note bears interest at a fixed rate of 6.0%. The mortgage note is secured by a first priority security interest in a property owned by the Partnership.

The estimated fair value of long-term debt is calculated using Level 3 inputs. The fair value of debt as of June 30, 2013, is estimated to be approximately $182.1 million, based on the par value of the Term Loan, the current balance of the SUSP Revolver and an analysis of the net present value of remaining payments on the notes payable rate at a rate calculated off U.S. Treasury Securities.

Fair Value Measurements

We use fair value measurements to measure, among other items, purchased assets and investments, leases and derivative contracts. We also use them to assess impairment of properties, equipment, intangible assets and goodwill. 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, use of unobservable prices or inputs is 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.

Debt or equity securities are classified into the following reporting categories: held-to-maturity, trading or available-for-sale securities. The investments in debt securities, which typically mature in one year or less, are currently classified as held-to-maturity and valued at amortized cost, which approximates fair value. The fair value of marketable securities is measured using Level 1 inputs. The maturity dates of these debt securities range from July 1, 2013 to September 3, 2013 and are classified on the balance sheet in other assets. Included in the marketable securities classification on the Consolidated Balance Sheets are approximately $5.9 million in money market funds. The carrying value of these money market funds approximates fair value and are measured using Level 1 inputs. The gross unrecognized holding gains and losses as of December 31, 2012 and June 30, 2013 were not material. These investments are used as collateral to secure the SUSP Term Loan and are intended to be used only for funding future capital expenditures.

The Partnership may periodically enter into derivatives, such as futures and options, to manage its fuel price risk, primarily related to bulk purchases of fuel. We hedge this inventory risk through the use of fuel futures contracts which are matched in quantity and timing to the anticipated usage of the inventory. The fair value of our derivative contracts is measured using Level 2 inputs, and is determined by either market prices on an active market for similar assets or by prices quoted by a broker or other market-corroborated prices. This price does not differ materially from the amount that would be paid to transfer the liability to a new obligor due to the short term nature of these contracts. At December 31, 2012, we held fuel futures contracts with a fair value of ($79,700) (49 contracts representing 2.1 million gallons). At June 30, 2013, the Partnership held fuel futures contracts with a fair value of ($247,700) (173 contracts representing 7.3 million gallons). The recognized gain/(loss) during the first six months of 2012 (by our Predecessor) and 2013 related to these contracts was less than $0.1 million and ($1.2 million), respectively. The gain or loss realized on hedging contracts is substantially offset by decreased/increased profitability on sale of fuel inventory. We did not use hedge accounting with regards to these contracts.

Commitments And Contingencies

Commitments and Contingencies

Leases

The Partnership leases certain convenience store and other properties under non-cancellable operating leases whose initial terms are typically 5 to 10 years, along with options that permit renewals for additional periods. Minimum rent is typically expensed on a straight-line basis over the term of the lease. We typically are responsible for payment of real estate taxes, maintenance expenses and insurance. These properties are primarily sublet to third parties.

The components of net rent expense are as follows:



	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2013		June 30, 2012		June 30, 2013
	Predecessor				Predecessor
	(in thousands)
Cash rent:
Store base rent	$	940	$	207	$	1,873	$	417
Equipment rent	170		81		307		75
Total cash rent	1,110		288		2,180		492
Non-cash rent:
Straight-line rent	—		12		—		12
Net rent expense	$	1,110	$	300	$	2,180	$	504

Equipment rent consists primarily of store equipment.

Letters of Credit

We were contingently liable for $12.8 million related to irrevocable letters of credit required by various third parties at June 30, 2013, under the SUSP Revolver.

Interest Expense And Interest Income

Interest Expense and Interest Income

The components of net interest expense are as follows:



	Three Months Ended						Six Months Ended
	June 30, 2012			June 30, 2013			June 30, 2012			June 30, 2013
	Predecessor						Predecessor
	(in thousands)
Cash interest expense	$	111		$	748		$	219		$	1,444
Amortization of loan costs	—			95			—			190
Cash interest income	(19		)	(77		)	(39		)	(185		)
Interest expense, net	$	92		$	766		$	180		$	1,449

Income Tax

As a limited partnership, we are generally not subject to state and federal income tax, with the exception of the state of Texas. Included in our provision for income tax is a tax imposed by the state of Texas of 0.5% of gross margin in Texas (“franchise tax”). Our taxable income or loss, which may vary substantially from the net income or net loss reported in the consolidated statements of operations, is includable in the federal and state income tax returns of each unitholder. We are, however, subject to a statutory requirement that our non-qualifying income cannot exceed 10% of our total gross income, determined on a calendar year basis under the applicable income tax provisions. If the amount of our non-qualifying income exceeds this statutory limit, we would be taxed as a corporation. Accordingly, certain activities that generate non-qualifying income are conducted through a taxable corporate subsidiary, PropCo. PropCo is subject to federal and state income tax and pays any income taxes related to the results of its operations. For the year ended December 31, 2012 and the six months ended June 30, 2013, our non-qualifying income did not exceed the statutory limit.

Our Predecessor was subject to income tax and was included in the consolidated income tax returns of SUSS. Income taxes were allocated to the Predecessor based on separate-company computations of income or loss. The income tax expense for the three and six months ended June 30, 2012 are those of our Predecessor.



	Three Months Ended									Six Months Ended
	June 30, 2012				June 30, 2013					June 30, 2012				June 30, 2013
	Predecessor									Predecessor
	(in thousands)		Tax rate %		(in thousands)			Tax rate %		(in thousands)		Tax rate %		(in thousands)			Tax rate %
Tax at statutory federal rate	$	2,031	35.0	%	$	3,418		35.0	%	$	2,958	35.0	%	$	6,321		35.0	%
Partnership earnings not subject to tax	—		—	%	(3,441		)	(35.2	)%	—		—	%	(6,321		)	(35.0	)%
Corporate subsidiary earnings subject to tax	—		—	%	35			0.4	%	—		—	%	12			0.1	%
State and local tax, net of federal benefit	58		1.0	%	72			0.7	%	97		1.2	%	141			0.8	%
Other	13		0.2	%	—			—	%	19		0.2	%	—			—	%
Tax expense per financial statement	$	2,102	36.2	%	$	84		0.9	%	$	3,074	36.4	%	$	153		0.9	%

Equity

As of June 30, 2013, SUSS owned 14,436 common units and 10,939,436 subordinated units, which together constitute a 50.1% ownership interest in us. We issued 10,925,000 common units to the public in connection with our IPO.

Allocations 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 SUSS.

The calculation of net income allocated to the partners is as follows (in thousands, except per unit amounts):



Net Income Attributable to Susser Petroleum Partners LP Limited Partner Units - Common Units
	Three Months Ended			Six Months Ended
	June 30, 2013			June 30, 2013
Distributions (a)	$	4,953		$	9,739
Distributions in excess of income	(113		)	(786		)
Limited partners' interest in net income	$	4,840		$	8,953

Net Income Attributable to Susser Petroleum Partners LP Limited Partner Units - Subordinated Units
	Three Months Ended			Six Months Ended
	June 30, 2013			June 30, 2013
Distributions (a)	$	4,953		$	9,739
Distributions in excess of income	(113		)	(786		)
Limited partners' interest in net income	$	4,840		$	8,953

(a) Distributions declared per unit	$0.4528			$0.8903

Incentive Distribution Rights

The following table illustrates the percentage allocations of available cash from operating surplus between the unitholders and SUSS (in its capacity as the holder of our incentive distribution rights or "IDRs") based on the specified target distribution levels. The amounts set forth under “marginal percentage interest in distributions” are the percentage interests of SUSS and the unitholders in any available cash from operating surplus we distribute up to and including the corresponding amount in the column “total quarterly distribution per unit target amount”. The percentage interests shown for our unitholders and SUSS for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests set forth below for SUSS assume that there are no arrearages on common units and that SUSS continues to own all of the IDRs.



		Marginal percentage interest in distributions
	Total quarterly distribution per unit target amount	Unitholders		SUSS
Minimum Quarterly Distribution	$0.4375	100	%	—
First Target Distribution	Above $0.4375 up to $0.503125	100	%	—
Second Target Distribution	Above $0.503125 up to $0.546875	85	%	15	%
Third Target Distribution	Above $0.546875 up to $0.656250	75	%	25	%
Thereafter	Above $0.656250	50	%	50	%

Cash Distributions

Our partnership agreement, as amended, sets forth the calculation to be used to determine the amount and priority of cash distributions that the common and subordinated unitholders will receive. On May 7, 2013, we declared a quarterly cash distribution, based on the results for the three months ended March 31, 2013, totaling $9.6 million, or $0.4375 per unit calculated as the minimum quarterly distribution. The distribution was paid on May 30, 2013 to unitholders of record on May 6, 2013 bringing the total paid for the year to $19.1 million. On August 5, 2013, we declared a quarterly distribution totaling $9.9 million, based on the results for the three months ended June 30, 2013, or $0.4528 per unit. The distribution will be paid on August 29, 2013 to unitholders of record on August 19, 2013.

Equity-Based Compensation

Share-Based Compensation

Equity-Based Compensation

Unit-based compensation expense related to the Partnership and stock-based compensation expense allocated to our Predecessor that was included in our condensed consolidated statements of operations was as follows (in thousands):



	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2013		June 30, 2012		June 30, 2013
	Predecessor				Predecessor
Phantom common units	$	—	$	183	$	—	$	306
Predecessor allocated expense	334		—		569		—
SUSS allocated expense	—		218		—		500
Total equity-based compensation expense	$	334	$	401	$	569	$	806

Phantom Common Unit Awards

No grants were issued during the second quarter of 2013. The fair value of each phantom unit on the grant date is based on the market price of our common unit on that date. The estimated fair value of our phantom units is amortized over the vesting period using the straight-line method. Non-employee director awards vest over a one to three-year period and employee awards vest ratably over a two to five-year service period. The fair value of nonvested service phantom units outstanding as of June 30, 2013, totaled $1.1 million which will be amortized to expense over the requisite service period.

A summary of our phantom unit award activity is set forth below:



	Number of Phantom Common Units	Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2011	—	$	—
Granted	32,500	23.09
Nonvested at December 31, 2012	32,500	23.09
Granted	12,139	32.50
Nonvested at June 30, 2013	44,639	$	25.65

Net Income per Unit

Net income per unit applicable to limited partners (including subordinated unitholders) is computed by dividing limited partners' interest in net income, after deducting any incentive distributions, by the weighted-average number of outstanding common and subordinated units. Our net income is allocated to the limited partners in accordance with their respective partnership percentages, after giving effect to priority income allocations for incentive distributions, if any, to SUSS, the holder of the IDRs, pursuant to our partnership agreement. Net income per unit is only calculated for the Partnership after the IPO as no units were outstanding prior to September 25, 2012. Earnings in excess of distributions are allocated to the 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. As of June 30, 2013, the weighted-average number of units outstanding equals the total number of units outstanding.

In addition to the common and subordinated units, we have also identified the IDRs as participating securities and use the two-class method when calculating the 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. Basic and diluted net income per unit applicable to subordinated limited partners are the same because there are no potentially dilutive subordinated units outstanding.

We also disclose limited partner units issued and outstanding. There have been no additional changes to the outstanding shares after the closing of the IPO. A reconciliation of the numerators and denominators of the basic and diluted per unit computations is as follows:



	Three Months Ended		Six Months Ended
	June 30, 2013		June 30, 2013
	(in thousands, except units and per unit amounts)
Net income	$	9,680	$	17,907
Less: General partner's interest in net income	—		—
Limited partners' interest in net income	$	9,680	$	17,907
Weighted average limited partner units outstanding:
Common - basic	10,939,436		10,939,436
Common - equivalents	18,461		15,323
Common - diluted	10,957,897		10,954,759
Subordinated - SUSS (basic and diluted)	10,939,436		10,939,436
Net income per limited partner unit:
Common - basic	$	0.44	$	0.82
Common - diluted	$	0.44	$	0.82
Subordinated - SUSS (basic and diluted)	$	0.44	$	0.82

Related-Party Transactions

We entered into two long-term, fee-based commercial agreements with SUSS in connection with our IPO, summarized as follows:

•

Distribution agreement - a 10-year agreement under which we will be the exclusive distributor of motor fuel to SUSS' existing Stripes® convenience stores and independently operated consignment locations, and to all future sites purchased by SUSP pursuant to the sale and leaseback option under the Omnibus Agreement, at cost, including tax and transportation costs, plus a fixed profit margin of three cents per gallon. In addition, all future motor fuel volumes purchased by SUSS for its own account will be added to the distribution agreement pursuant to the terms of the Omnibus Agreement.


•	Transportation agreement - a 10-year transportation logistics agreement, pursuant to which SUSS will arrange for motor fuel to be delivered from our suppliers to our customers at rates consistent with those charged by SUSS to third parties for the delivery of motor fuel.

Omnibus Agreement

In addition to the commercial agreements described above, we also entered into an Omnibus Agreement with SUSS pursuant to which, among other things, we received a three-year option to purchase from SUSS up to 75 of SUSS' new or recently constructed Stripes® convenience stores at their cost and lease the stores back to them at a specified rate for a 15-year initial term, and SUSP will be the exclusive distributor of motor fuel to such stores for a period of ten years from the date of purchase. We also received a ten-year right to participate in acquisition opportunities with SUSS, to the extent SUSP and SUSS are able to reach an agreement on terms, and the exclusive right to distribute motor fuel to certain of SUSS' newly constructed convenience stores and independently operated consignment locations. In addition, we agreed to reimburse our general partner and its affiliates for the costs incurred in managing and operating SUSP. The Omnibus Agreement also provides for certain indemnification obligations between SUSS and SUSP.

Contribution Agreement

On September 25, 2012, in connection with the closing of our IPO, the following transactions, among others, occurred pursuant to the Contribution Agreement:


•	SUSS contributed to SPOC substantially all of its wholesale motor fuel distribution business, other than its motor fuel consignment business and transportation assets, which included:


•	marketer, distributor and supply agreements,


•	fuel supply agreements to distribute motor fuel to convenience stores and other retail fuel outlets,


•	real property owned in fee and personal property,


•	leases and subleases under which it was a tenant, and


•	leases and subleases under which it was a landlord.


•	SPC contributed its membership interests in T&C Wholesale to SPOC.


•	SPC contributed its interest in SPOC to the Partnership in exchange for 14,436 common units representing a 0.07% limited partner interest in the Partnership, 10,939,436 subordinated units representing a 50.0% limited partner interest in the Partnership and all of the incentive distribution rights of the Partnership.

Summary of Transactions

Related-party transactions with SUSS are as follows:

•

The Partnership sells motor fuel to SUSS for resale at its Stripes® convenience stores and independently operated consignment locations. Motor fuel sales to affiliates for the three and six month periods ended June 30, 2013, were $751.3 million and $1.5 billion, resulting in gross profit of $7.9 million and $15.4 million, respectively. Prior to September 25, 2012, the Predecessor sold motor fuel to affiliates at zero gross profit. Additionally, we collect credit card receipts from the motor fuel suppliers on SUSS' behalf.

•

SUSS charged us for general and administrative services under the Omnibus Agreement for oversight of the Partnership and its Predecessor. Such amounts include certain expenses allocated by SUSS for general corporate services, such as finance, internal audit and legal services, which are included in general and administrative expenses. These expenses were charged or allocated to the Partnership based on the nature of the expenses and our proportionate share of employee time and headcount, which management believes to be reasonable. SUSS charged us $0.6 million during the quarter ended June 30, 2013 and $1.2 million during the first half of 2013, including stock compensation. SUSS allocated to the Predecessor stock compensation of $0.3 million and $0.6 million for the three and six months ended June 30, 2012.


•	We reimbursed SUSS for costs of employees supporting our operations of $2.7 million during the quarter ended June 30, 2013 and $5.3 million during the first half of 2013. Prior to the IPO, these expenses were incurred directly by the Predecessor.


•	We distributed $4.8 million and $9.6 million during the three and six month periods ended June 30, 2013 to SUSS as regular distributions on its common and subordinated units.


•	SUSS charged us for transportation services under the Transportation Contract for delivery of motor fuel to our customers of $12.6 million and $24.2 million for the three and six months ended June 30, 2013. Prior to the IPO, these expenses were incurred directly by the Predecessor.


•	SUSS charged the Predecessor for rent expense on certain real estate, which was in turn subleased by the Predecessor to dealers, of $0.7 million and $1.3 million for the three and six month periods ended June 30, 2012. No rent expense was incurred subsequent to the IPO.

•

We acquired six convenience store properties from SUSS for $21.2 million during the quarter ended June 30, 2013, bringing the total for the year to 12. We spent $52.5 million during the first half of 2013, which also includes final cost true-up adjustments These stores were leased back to SUSS. Since our IPO, we have acquired a total of 20 convenience store properties from SUSS, for a total cost of $81.5 million, through June 30, 2013.


•	We charged SUSS rent on the convenience store properties which were purchased by us and leased back to them. For the three and six month periods ended June 30, 2013, we charged $1.3 million and $2.1 million to SUSS on these leases.


•	Net accounts receivable from SUSS were $59.5 million and $51.3 million at December 31, 2012 and June 30, 2013, respectively.

Summary of Significant Accounting Policies (Policies)

New Accounting Pronouncements

FASB ASU No. 2012-02. In July 2012, the FASB issued ASU No. 2012-02, "Intangibles—Goodwill and Other." This guidance permits an entity to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this guidance affected our impairment steps only but did not have an effect on our results of operations, cash flows or related disclosures.

Accounts Receivable (Tables)

Schedule of Accounts Receivable

Accounts receivable, excluding receivables from affiliates, consisted of the following:



	December 31, 2012			June 30, 2013
	(in thousands)
Accounts receivable, trade	$	32,906		$	40,160
Other receivables	205			372
Allowance for uncollectible accounts, trade	(103		)	(286		)
Accounts receivable, net	$	33,008		$	40,246

Inventories (Tables)

Schedule of Inventories

Inventories consisted of the following:



	December 31, 2012		June 30, 2013
	(in thousands)
Fuel- wholesale consignment	$	1,960	$	1,536
Fuel-other wholesale	340		20,161
Other	681		672
Inventories, net	$	2,981	$	22,369

Property And Equipment (Tables)

Schedule of Property and Equipment

Property and equipment consisted of the following:



	December 31, 2012			June 30, 2013
	(in thousands)
Land	$	34,122		$	51,185
Buildings and leasehold improvements	23,589			53,770
Equipment	16,049			24,885
Construction in progress	2,905			3,838
Total property and equipment	76,665			133,678
Less: Accumulated depreciation	(8,492		)	(10,427		)
Property and equipment, net	$	68,173		$	123,251

Goodwill and Other Intangible Assets (Tables)

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets



	December 31, 2012						June 30, 2013
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Finite-lived
Supply agreements	$	29,803	$	8,674	$	21,129	$	30,328	$	10,123	$	20,205
Favorable leasehold arrangements, net	236		39		197		236		45		191
Loan origination costs	1,907		102		1,805		1,907		292		1,615
Other intangibles	63		63		—		—		—		—
Intangible assets, net	$	32,009	$	8,878	$	23,131	$	32,471	$	10,460	$	22,011

Long-Term Debt (Tables)

Schedule of Long-term Debt

Long-term debt consisted of the following:



	December 31, 2012		June 30, 2013
	(in thousands)
SUSP Term loan, bearing interest at Prime or LIBOR plus an applicable margin	$	148,166	$	95,866
SUSP Revolver, bearing interest at Prime or LIBOR plus an applicable margin	35,590		84,800
Notes payable, bearing interest at 6%	1,099		1,086
Total debt	184,855		181,752
Less: Current maturities	24		24
Long-term debt, net of current maturities	$	184,831	$	181,728

Commitments And Contingencies (Tables)

Schedule of Rent Expense

The components of net rent expense are as follows:



	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2013		June 30, 2012		June 30, 2013
	Predecessor				Predecessor
	(in thousands)
Cash rent:
Store base rent	$	940	$	207	$	1,873	$	417
Equipment rent	170		81		307		75
Total cash rent	1,110		288		2,180		492
Non-cash rent:
Straight-line rent	—		12		—		12
Net rent expense	$	1,110	$	300	$	2,180	$	504

Interest Expense And Interest Income (Tables)

Schedule of Interest Expense and Interest Income

The components of net interest expense are as follows:



	Three Months Ended						Six Months Ended
	June 30, 2012			June 30, 2013			June 30, 2012			June 30, 2013
	Predecessor						Predecessor
	(in thousands)
Cash interest expense	$	111		$	748		$	219		$	1,444
Amortization of loan costs	—			95			—			190
Cash interest income	(19		)	(77		)	(39		)	(185		)
Interest expense, net	$	92		$	766		$	180		$	1,449

Income Tax Schedule of Effective Income Tax Reconciliation (Tables)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The income tax expense for the three and six months ended June 30, 2012 are those of our Predecessor.



	Three Months Ended									Six Months Ended
	June 30, 2012				June 30, 2013					June 30, 2012				June 30, 2013
	Predecessor									Predecessor
	(in thousands)		Tax rate %		(in thousands)			Tax rate %		(in thousands)		Tax rate %		(in thousands)			Tax rate %
Tax at statutory federal rate	$	2,031	35.0	%	$	3,418		35.0	%	$	2,958	35.0	%	$	6,321		35.0	%
Partnership earnings not subject to tax	—		—	%	(3,441		)	(35.2	)%	—		—	%	(6,321		)	(35.0	)%
Corporate subsidiary earnings subject to tax	—		—	%	35			0.4	%	—		—	%	12			0.1	%
State and local tax, net of federal benefit	58		1.0	%	72			0.7	%	97		1.2	%	141			0.8	%
Other	13		0.2	%	—			—	%	19		0.2	%	—			—	%
Tax expense per financial statement	$	2,102	36.2	%	$	84		0.9	%	$	3,074	36.4	%	$	153		0.9	%

Equity (Tables)

Schedule of Net Income Allocation By Partners

The calculation of net income allocated to the partners is as follows (in thousands, except per unit amounts):



Net Income Attributable to Susser Petroleum Partners LP Limited Partner Units - Common Units
	Three Months Ended			Six Months Ended
	June 30, 2013			June 30, 2013
Distributions (a)	$	4,953		$	9,739
Distributions in excess of income	(113		)	(786		)
Limited partners' interest in net income	$	4,840		$	8,953

Net Income Attributable to Susser Petroleum Partners LP Limited Partner Units - Subordinated Units
	Three Months Ended			Six Months Ended
	June 30, 2013			June 30, 2013
Distributions (a)	$	4,953		$	9,739
Distributions in excess of income	(113		)	(786		)
Limited partners' interest in net income	$	4,840		$	8,953

(a) Distributions declared per unit	$0.4528			$0.8903

Schedule of Incentive Distribution Rights to Limited Partners



		Marginal percentage interest in distributions
	Total quarterly distribution per unit target amount	Unitholders		SUSS
Minimum Quarterly Distribution	$0.4375	100	%	—
First Target Distribution	Above $0.4375 up to $0.503125	100	%	—
Second Target Distribution	Above $0.503125 up to $0.546875	85	%	15	%
Third Target Distribution	Above $0.546875 up to $0.656250	75	%	25	%
Thereafter	Above $0.656250	50	%	50	%

Equity-Based Compensation (Tables)

Schedule of Equity Based Compensation Expense

Unit-based compensation expense related to the Partnership and stock-based compensation expense allocated to our Predecessor that was included in our condensed consolidated statements of operations was as follows (in thousands):



	Three Months Ended				Six Months Ended
	June 30, 2012		June 30, 2013		June 30, 2012		June 30, 2013
	Predecessor				Predecessor
Phantom common units	$	—	$	183	$	—	$	306
Predecessor allocated expense	334		—		569		—
SUSS allocated expense	—		218		—		500
Total equity-based compensation expense	$	334	$	401	$	569	$	806

Schedule of Nonvested Share Activity

A summary of our phantom unit award activity is set forth below:



	Number of Phantom Common Units	Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2011	—	$	—
Granted	32,500	23.09
Nonvested at December 31, 2012	32,500	23.09
Granted	12,139	32.50
Nonvested at June 30, 2013	44,639	$	25.65

Net Income per Unit Schedule of Earnings Per Share, Basic and Diluted (Tables)

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

A reconciliation of the numerators and denominators of the basic and diluted per unit computations is as follows:



	Three Months Ended		Six Months Ended
	June 30, 2013		June 30, 2013
	(in thousands, except units and per unit amounts)
Net income	$	9,680	$	17,907
Less: General partner's interest in net income	—		—
Limited partners' interest in net income	$	9,680	$	17,907
Weighted average limited partner units outstanding:
Common - basic	10,939,436		10,939,436
Common - equivalents	18,461		15,323
Common - diluted	10,957,897		10,954,759
Subordinated - SUSS (basic and diluted)	10,939,436		10,939,436
Net income per limited partner unit:
Common - basic	$	0.44	$	0.82
Common - diluted	$	0.44	$	0.82
Subordinated - SUSS (basic and diluted)	$	0.44	$	0.82

Organization and Principles of Consolidation (Details)

1 Months Ended

Sep. 24, 2012

Sep. 29, 2012

SUSS [Member]

Jun. 30, 2013

SUSS [Member]

IPO [Member]

Common Units [Member]

Sep. 29, 2012

SUSS [Member]

IPO [Member]

Common Units [Member]

Sep. 25, 2012

SUSS [Member]

IPO [Member]

Common Units [Member]

Jun. 30, 2013

SUSS [Member]

IPO [Member]

Subordinated Units [Member]

Sep. 29, 2012

SUSS [Member]

IPO [Member]

Subordinated Units [Member]

Sep. 25, 2012

SUSS [Member]

IPO [Member]

Subordinated Units [Member]

Organization, Consolidation and Presentation of Financial Statements [Line Items]

Units sold in IPO

10,925,000

Limited Partners' Capital Account, Units Outstanding

14,436

10,939,436

Limited partner interest in partnership, Percentage Common Units

0.07%

Limited partner units issued Percentage ownership, subordinate units

50.00%

Initial Public Offering (Details) (USD $)

In Millions, except Share data, unless otherwise specified

1 Months Ended

Sep. 24, 2012

Jun. 30, 2013

SUSP Term Loan [Member]

Term Loan [Member]

Sep. 25, 2012

SUSP Term Loan [Member]

Term Loan [Member]

Jun. 30, 2013

Susser Petroleum Partners Revolver [Member]

Revolving Credit Agreement [Member]

Sep. 25, 2012

Susser Petroleum Partners Revolver [Member]

Revolving Credit Agreement [Member]

Sep. 24, 2012

SUSS [Member]

Jun. 30, 2013

SUSS [Member]

Sep. 25, 2012

SUSS [Member]

Jun. 30, 2013

SUSS [Member]

Susser Petroleum Partners Revolver [Member]

Term Loan [Member]

Jun. 30, 2013

Subordinated Units [Member]

IPO [Member]

SUSS [Member]

Sep. 29, 2012

Subordinated Units [Member]

IPO [Member]

SUSS [Member]

Sep. 25, 2012

Subordinated Units [Member]

IPO [Member]

SUSS [Member]

Jun. 30, 2013

Common Units [Member]

IPO [Member]

SUSS [Member]

Sep. 29, 2012

Common Units [Member]

IPO [Member]

SUSS [Member]

Sep. 25, 2012

Common Units [Member]

IPO [Member]

SUSS [Member]

Initial Public Offering [Line Items]

Units sold in IPO

10,925,000

IPO Price per Share

$ 20.50

Limited Partners' Capital Account, Units Outstanding

10,939,436

14,436

Ownership Percentage

50.10%

Aggregate cash distribution

$ 206.0

Proceeds from issuance of common units, net of offering costs

206.2

Face amount

180.7

Maximum borrowing capactiy

250.0

Amount of debt guaranteed

$ 180.7

Accounts Receivable (Details) (USD $)

In Thousands, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Accounts, Notes, Loans and Financing Receivable [Line Items]

Allowance for uncollectible accounts, trade

$ (286)

$ (103)

Accounts receivable, net

40,246

33,008

Receivables from affiliates

51,256

59,543

Trade Accounts Receivable [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, gross, current

40,160

32,906

Other Receivables [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, gross, current

$ 372

$ 205

Inventories (Details) (USD $)

In Thousands, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Schedule Of Inventory [Line Items]

Fuel- wholesale consignment

$ 1,536

$ 1,960

Fuel-other wholesale

20,161

340

Other

672

681

Inventories, net

$ 22,369

$ 2,981

Property And Equipment (Details) (USD $)

In Thousands, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Property, Plant and Equipment [Line Items]

Total property and equipment

$ 133,678

$ 76,665

Accumulated depreciation

(10,427)

(8,492)

Property and equipment, net

123,251

68,173

Land [Member]

Property, Plant and Equipment [Line Items]

Total property and equipment

51,185

34,122

Buildings and leasehold improvements [Member]

Property, Plant and Equipment [Line Items]

Total property and equipment

53,770

23,589

Equipment [Member]

Property, Plant and Equipment [Line Items]

Total property and equipment

24,885

16,049

Construction in progress [Member]

Property, Plant and Equipment [Line Items]

Total property and equipment

$ 3,838

$ 2,905

Goodwill and Other Intangible Assets (Intangible Assets) (Details) (USD $)

In Thousands, unless otherwise specified

6 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

$ 12,936

Finite-Lived Intangible Assets, Net [Abstract]

Finite-lived intangible assets, Gross carrying amount

32,471

32,009

Finite-lived intangible assets, Accumulated amortization

10,460

8,878

Intangible assets, net

22,011

23,131

Supply agreements [Member]

Finite and Indefinite-Lived Intangible Asset by Major Class [Line Items]

Average amortization period

6 years

Finite-Lived Intangible Assets, Net [Abstract]

Finite-lived intangible assets, Gross carrying amount

30,328

29,803

Finite-lived intangible assets, Accumulated amortization

10,123

8,674

Finite-lived intangible assets, Net

20,205

21,129

(Unfavorable) favorable leasehold arrangements, net [Member]

Finite and Indefinite-Lived Intangible Asset by Major Class [Line Items]

Average amortization period

14 years

Finite-Lived Intangible Assets, Net [Abstract]

Finite-lived intangible assets, Gross carrying amount

236

Finite-lived intangible assets, Accumulated amortization

45

39

Finite-lived intangible assets, Net

191

197

Loan origination commitments [Member]

Finite-Lived Intangible Assets, Net [Abstract]

Finite-lived intangible assets, Gross carrying amount

1,907

Finite-lived intangible assets, Accumulated amortization

292

102

Finite-lived intangible assets, Net

1,615

1,805

Other [Member]

Finite-Lived Intangible Assets, Net [Abstract]

Finite-lived intangible assets, Gross carrying amount

0

63

Finite-lived intangible assets, Accumulated amortization

0

63

Finite-lived intangible assets, Net

$ 0

Long-Term Debt (Details) (USD $)

In Thousands, unless otherwise specified

Jun. 30, 2013

Dec. 31, 2012

Debt Instrument [Line Items]

Total debt

$ 181,752

$ 184,855

Less: Current maturities

24

Long-term debt, net of current maturities

181,728

184,831

SUSP Term Loan [Member] |
Term Loan [Member]

Debt Instrument [Line Items]

Total debt

95,866

148,166

Susser Petroleum Partners Revolver [Member] |
Revolving Credit Agreement [Member]

Debt Instrument [Line Items]

SUSP Revolver, bearing interest at Prime or LIBOR plus an applicable margin

84,800

35,590

Notes Payable - 6% [Member] |
Other Notes Payables [Member]

Debt Instrument [Line Items]

Notes payable, bearing interest at 6%

$ 1,086

$ 1,099

Long-Term Debt (Term Loans) (Details) (USD $)

1 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

SUSP Term Loan [Member]

Term Loan [Member]

Sep. 25, 2012

SUSP Term Loan [Member]

Term Loan [Member]

Sep. 25, 2012

SUSP Term Loan [Member]

Federal Funds Rate [Member]

Term Loan [Member]

Sep. 25, 2012

SUSP Term Loan [Member]

LIBOR [Member]

Term Loan [Member]

Sep. 25, 2012

SUSP Term Loan [Member]

LIBOR plus Federal Funds Rate or LIBOR plus Prime Rate [Member]

Term Loan [Member]

Debt Instrument [Line Items]

Face amount

$ 180,700,000

Basis spread on variable rate

0.50%

1.00%

0.25%

Interest rate at end of period

0.44%

Covenant collateral percentage amount

98.00%

Marketable securities

$ 95,893,000

$ 148,264,000

Long-Term Debt (Credit Facilities) (Details) (USD $)

1 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Sep. 25, 2012

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Jun. 30, 2013

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Jun. 30, 2013

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Standby Letters of Credit [Member]

Sep. 25, 2012

Minimum [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Jun. 30, 2013

Minimum [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Sep. 25, 2012

Minimum [Member]

LIBOR [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Sep. 25, 2012

Minimum [Member]

Applicable Margin Range [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Sep. 25, 2012

Maximum [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Jun. 30, 2013

Maximum [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Sep. 25, 2012

Maximum [Member]

LIBOR [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Sep. 25, 2012

Maximum [Member]

Applicable Margin Range [Member]

Revolving Credit Agreement [Member]

Susser Petroleum Partners Revolver [Member]

Debt Instrument [Line Items]

Maximum borrowing capactiy

$ 250,000,000

Increase in additional borrowings

100,000,000

Basis spread on variable rate

1.00%

2.00%

2.25%

3.25%

Commitment fee percentage

0.375%

0.50%

Revolving line of credit

84,800,000

35,590,000

Consolidated interest coverage ratio

2.50

1.00

Consolidated total leverage ratio

4.50

1.00

Consolidated total leverage ratio at end of fiscal quarter

3.00

1.00

Letters of Credit Outstanding, Amount

12,800,000

Current borrowing capacity

$ 152,400,000

Long-Term Debt (Guaranty of Debt) (Details) (SUSS [Member], Revolving Credit Facility and Term Loan [Member], Guaranty of Collection [Member], USD $)

In Millions, unless otherwise specified

Sep. 29, 2012

Sep. 25, 2012

SUSS [Member] |
Revolving Credit Facility and Term Loan [Member] |
Guaranty of Collection [Member]

Debt Instrument [Line Items]

Amount of debt guaranteed

$ 180.7

Long-Term Debt (Other Debt) (Details) (USD $)

Jun. 30, 2013

Notes Payable - 6% [Member]

Mortgage Note Payable [Member]

Dec. 31, 2012

Notes Payable - 6% [Member]

Mortgage Note Payable [Member]

Aug. 31, 2010

Notes Payable - 6% [Member]

Predecessor [Member]

Mortgage Note Payable [Member]

Debt Instrument [Line Items]

Face amount

$ 1,200,000

Notes payable

1,086,000

1,099,000

Stated interest rate

6.00%

Debt at fair value

$ 182,100,000

Long-Term Debt (Fair Value Measurements) (Details) (USD $)

6 Months Ended

Jun. 30, 2013

gal

contracts

Jul. 1, 2012

Dec. 31, 2012

gal

contracts

Derivatives, Fair Value [Line Items]

Money market funds

$ 5,900,000

Predecessor [Member] |
Fuel Futures Contracts [Member] |
Designated as Hedging Instrument [Member]

Derivatives, Fair Value [Line Items]

Fair value of contract

247,700

79,700

Number of contracts

173

49

Gallons in contract

7,300,000

2,100,000

Gain/(Loss) on contracts

$ (1,200,000)

$ 100,000

Commitments And Contingencies (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Minimum [Member]

Jun. 30, 2013

Maximum [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2013

Standby Letters of Credit [Member]

Susser Petroleum Partners Revolver [Member]

Revolving Credit Agreement [Member]

Operating Leased Assets [Line Items]

Letters of Credit Outstanding, Amount

$ 12,800,000

Lease term

5 years

10 years

Store base rent

207,000

417,000

940,000

1,873,000

Equipment rent

81,000

75,000

170,000

307,000

Operating Leases, Cash Rent Expense

288,000

492,000

1,110,000

2,180,000

Straight Line Rent

12,000

0

Net rent expense

$ 300,000

$ 504,000

$ 1,110,000

$ 2,180,000

Interest Expense And Interest Income (Details) (USD $)

In Thousands, unless otherwise specified

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Interest Expense and Interest Income [Line Items]

Cash interest expense

$ 748

$ 1,444

$ 111

$ 219

Amortization of loan costs

95

190

0

Cash Interest Income

(77)

(185)

(19)

(39)

Interest expense, net

$ 766

$ 1,449

$ 92

$ 180

Income Tax (Details) (USD $)

In Thousands, unless otherwise specified

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Income Tax Contingency [Line Items]

Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate

$ 3,418

$ 6,321

$ 2,031

$ 2,958

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate

35.00%

Partnership earnings not subject to tax

(3,441)

(6,321)

0

Effective Income Tax Rate Reconciliation, Partnership earnings not subject to tax

(35.20%)

(35.00%)

0.00%

Corporate subsidiary earnings subject to tax

35

12

0

Effective Income Tax Rate Reconciliation, Corporate Subsidiary earnings subject to tax

0.40%

0.10%

0.00%

Income Tax Reconciliation, State and Local Income Taxes

72

141

58

97

Effective Income Tax Rate Reconciliation, State and Local Income Taxes

0.70%

0.80%

1.00%

1.20%

Income Tax Reconciliation, Other Adjustments

0

13

19

Effective Income Tax Rate Reconciliation, Other Adjustments

0.00%

0.20%

Income Tax Expense (Benefit)

$ 84

$ 153

$ 2,102

$ 3,074

Effective Income Tax Rate, Continuing Operations

0.90%

36.20%

36.40%

Non-qualifying income %

10.00%

Margin tax

0.50%

Equity (Details) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Aug. 5, 2013

May 7, 2013

Sep. 24, 2012

Jun. 30, 2013

Common Unitholders [Member]

Jun. 30, 2013

Common Unitholders [Member]

Jun. 30, 2013

Common Unitholders - Public [Member]

Dec. 31, 2012

Common Unitholders - Public [Member]

Jun. 30, 2013

Common Unitholders - Affiliates [Member]

Dec. 31, 2012

Common Unitholders - Affiliates [Member]

Jun. 30, 2013

Subordinated Units [Member]

Jun. 30, 2013

Subordinated Units [Member]

Dec. 31, 2012

Subordinated Units [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2013

Minimum Quarterly Distribution [Member]

Mar. 31, 2013

Minimum Quarterly Distribution, Prorated [Member]

Jun. 30, 2013

Minimum Quarterly Distribution, Prorated [Member]

Jun. 30, 2013

Minimum [Member]

First Target Distribution [Member]

Jun. 30, 2013

Minimum [Member]

Second Target Distribution [Member]

Jun. 30, 2013

Minimum [Member]

Third Target Distribution [Member]

Jun. 30, 2013

Minimum [Member]

Distributions Thereafter [Member]

Jun. 30, 2013

Maximum [Member]

First Target Distribution [Member]

Jun. 30, 2013

Maximum [Member]

Second Target Distribution [Member]

Jun. 30, 2013

Maximum [Member]

Third Target Distribution [Member]

Jun. 30, 2013

SUSS [Member]

Minimum Quarterly Distribution [Member]

Jun. 30, 2013

SUSS [Member]

First Target Distribution [Member]

Jun. 30, 2013

SUSS [Member]

Second Target Distribution [Member]

Jun. 30, 2013

SUSS [Member]

Third Target Distribution [Member]

Jun. 30, 2013

SUSS [Member]

Distributions Thereafter [Member]

Jun. 30, 2013

Common Unitholders [Member]

Minimum Quarterly Distribution [Member]

Jun. 30, 2013

Common Unitholders [Member]

First Target Distribution [Member]

Jun. 30, 2013

Common Unitholders [Member]

Second Target Distribution [Member]

Jun. 30, 2013

Common Unitholders [Member]

Third Target Distribution [Member]

Jun. 30, 2013

Common Unitholders [Member]

Distributions Thereafter [Member]

Jun. 30, 2013

SUSS [Member]

Sep. 25, 2012

SUSS [Member]

Jun. 30, 2013

IPO [Member]

SUSS [Member]

Common Units [Member]

Sep. 29, 2012

IPO [Member]

SUSS [Member]

Common Units [Member]

Sep. 25, 2012

IPO [Member]

SUSS [Member]

Common Units [Member]

Jun. 30, 2013

IPO [Member]

SUSS [Member]

Subordinated Units [Member]

Sep. 29, 2012

IPO [Member]

SUSS [Member]

Subordinated Units [Member]

Sep. 25, 2012

IPO [Member]

SUSS [Member]

Subordinated Units [Member]

Schedule of Partners' Capital [Line Items]

Distribution Made to Limited Partner, Cash Distributions Declared

$ 9,900,000

$ 9,600,000

$ 19,100,000

Cash distribution per unit

$ 0.4528

$ 0.8903

Limited Partners' Capital Account, Units Outstanding

10,925,000

14,436

10,939,436

14,436

10,939,436

Ownership Percentage

50.10%

Units sold in IPO

10,925,000

Net income

9,680,000

17,907,000

4,840,000

8,953,000

4,840,000

8,953,000

3,703,000

5,377,000

Distributions Made to Members or Limited Partners [Abstract]

Distributions

4,953,000

9,739,000

4,953,000

9,739,000

Undistributed earnings

(113,000)

(786,000)

(113,000)

(786,000)

Net income

$ 9,680,000

$ 17,907,000

$ 4,840,000

$ 8,953,000

$ 4,840,000

$ 8,953,000

$ 3,703,000

$ 5,377,000

Incentive Distributions, Members or Limited Partners [Abstract]

Total quarterly distribution per unit target amount

$ 0.4375

$ 0.4528

$ 0.4375

$ 0.503125

$ 0.546875

$ 0.656250

$ 0.503125

$ 0.546875

$ 0.656250

Marginal percentage interest in distributions

0.00%

15.00%

25.00%

50.00%

100.00%

85.00%

75.00%

50.00%

Equity-Based Compensation (Details) (USD $)

In Thousands, unless otherwise specified

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Phantom common units [Member]

Jun. 30, 2013

Phantom common units [Member]

Jun. 30, 2013

Allocated From Predecessor [Member]

Jun. 30, 2013

Allocated From Predecessor [Member]

Jun. 30, 2013

Allocated From SUSS [Member]

Jun. 30, 2013

Allocated From SUSS [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Phantom common units [Member]

Jun. 30, 2012

Predecessor [Member]

Phantom common units [Member]

Jun. 30, 2012

Predecessor [Member]

Allocated From Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Allocated From Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Allocated From SUSS [Member]

Jun. 30, 2012

Predecessor [Member]

Allocated From SUSS [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity-based compensation expense

$ 401

$ 806

$ 183

$ 306

$ 0

$ 218

$ 500

$ 334

$ 569

$ 0

$ 334

$ 569

$ 0

Equity-Based Compensation (Phantom Common Unit Awards) (Details) (Phantom common units [Member], 2012 Long Term Incentive Plan [Member], USD $)

In Millions, except Share data, unless otherwise specified

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Nonvested, Number of Shares [Roll Forward]

Non-vested at beginning of the period, Shares

32,500

0

Granted, shares

12,139

32,500

Non-vested at end of period, Shares

44,639

32,500

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Non-vested at beginning of the period, Weighted Average Grant Date Fair Value

$ 23.09

$ 0

Granted, Weighted Average Grant Date Fair Value

$ 32.50

$ 23.09

Non-vested at end of period, Weighted Average Grant Date Fair Value

$ 25.65

$ 23.09

Share-based Compensation Arrangement by Share-based Payment Award, Other than Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value

$ 1.1

Non-employee director [Member] |
Minimum [Member]

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

1 year

Non-employee director [Member] |
Maximum [Member]

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

3 years

Employee [Member] |
Minimum [Member]

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

2 years

Employee [Member] |
Maximum [Member]

Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period

5 years

Net Income per Unit Net Income Per Unit (Details) (USD $)

3 Months Ended

6 Months Ended

Jun. 30, 2013

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Net income

$ 9,680,000

$ 17,907,000

General partner's interest in net income

0

Common Units [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Weighted Average Limited Partnership Units Outstanding, Basic

10,939,436

Incremental Common Shares Attributable to Share-based Payment Arrangements

18,461

15,323

Weighted Average Limited Partnership Units Outstanding, Diluted

10,957,897

10,954,759

Subordinated Units [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Net income

4,840,000

8,953,000

Weighted Average Number of Limited Partnership and General Partnership Unit Outstanding, Basic and Diluted

10,939,436

Net income per limited partner unit:

$ 0.44

$ 0.82

Common Unitholders [Member]

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Net income

$ 4,840,000

$ 8,953,000

Earnings Per Share, Basic and Diluted

$ 0.44

$ 0.82

Earnings Per Share, Basic

$ 0.44

$ 0.82

Related-Party Transactions (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

stores

Jun. 30, 2013

stores

Dec. 31, 2012

Jun. 30, 2013

SUSS [Member]

Jun. 30, 2013

SUSS [Member]

agreement

stores

Sep. 29, 2012

SUSS [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2012

Predecessor [Member]

Jun. 30, 2013

Predecessor [Member]

SUSS [Member]

Jun. 30, 2013

Predecessor [Member]

SUSS [Member]

Jun. 30, 2013

IPO [Member]

Common Units [Member]

SUSS [Member]

Sep. 29, 2012

IPO [Member]

Common Units [Member]

SUSS [Member]

Sep. 25, 2012

IPO [Member]

Common Units [Member]

SUSS [Member]

Jun. 30, 2013

IPO [Member]

Subordinated Units [Member]

SUSS [Member]

Sep. 29, 2012

IPO [Member]

Subordinated Units [Member]

SUSS [Member]

Sep. 25, 2012

IPO [Member]

Subordinated Units [Member]

SUSS [Member]

Jun. 30, 2013

Common Unitholders [Member]

Successor [Member]

Jun. 30, 2013

Common Unitholders [Member]

Successor [Member]

Jun. 30, 2013

IPO [Member]

stores

Jun. 30, 2013

Allocated From Predecessor [Member]

Jun. 30, 2013

Allocated From Predecessor [Member]

Jun. 30, 2012

Allocated From Predecessor [Member]

Predecessor [Member]

Jun. 30, 2012

Allocated From Predecessor [Member]

Predecessor [Member]

Related Party Transaction [Line Items]

Number of long-term commercial agreements

2

Distribution agreement term

10 years

Margin on transportation costs

0.03

Transportation agreement term

10 years

Purchase option term

3 years

Number of convenience stores

75

Initial term

15 years

Exclusive distributor term

10 years

Participation in acquisitions term

10 years

Limited partner units outstanding:

14,436

10,939,436

Limited partner units issued Percentage ownership, subordinate units

50.00%

Percentage common units

0.07%

Motor fuel sales to affiliates

$ 751,304,000

$ 1,482,031,000

$ 616,727,000

$ 1,247,171,000

Gross profit from related parties

7,900,000

15,400,000

General and administrative expenses from related parties

600,000

1,200,000

Allocated Share-based Compensation Expense

401,000

806,000

334,000

569,000

0

334,000

569,000

Reimbursement costs of employees supporting operations

2,700,000

5,300,000

Distribution amount

4,800,000

9,600,000

Charge for transportation services

12,600,000

24,200,000

Rent expense

1,300,000

2,100,000

700,000

1,300,000

Number of convenience store properties acquired

6

12

20

Cost for convenience stores acquired

21,200,000

52,500,000

81,500,000

Receivables from affiliates

$ 51,256,000

$ 59,543,000