Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets  
Changes in Goodwill by Segment (in thousands)

 

 

Goodwill Allocated to

 

 

 

 

 

    

Wholesale

    

GDSO

 

 

 

 

 

Reporting

 

Reporting

 

 

 

 

 

Unit

 

Unit

 

Total

 

Balance at December 31, 2014

 

$

121,752

 

$

32,326

 

$

154,078

 

Acquisition of Warren Equities, Inc.

 

 

 —

 

 

186,437

 

 

186,437

 

Acquisition of Capitol Petroleum Group

 

 

 —

 

 

94,854

 

 

94,854

 

Balance at December 31, 2015

 

 

121,752

 

 

313,617

 

 

435,369

 

Impairment (1)

 

 

(121,752)

 

 

 —

 

 

(121,752)

 

Disposals

 

 

 —

 

 

(17,920)

 

 

(17,920)

 

Other activity (2)

 

 

 —

 

 

(929)

 

 

(929)

 

Balance at December 31, 2016

 

$

 —

 

$

294,768

 

$

294,768

 


(1)

See Note 2 for a description of the facts and circumstances related to the impairment charges recognized in 2016.

(2)

Other activity represents changes to goodwill as a result of finalizing the acquisition accounting related to the acquisition of Warren Equities, Inc. (see Note 18).

Schedule of components of intangible assets (dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Gross

    

 

 

    

Net

    

 

 

 

 

Carrying

 

Accumulated

 

Intangible

 

Amortization

 

 

 

Amount

 

Amortization

 

Assets

 

Period

 

At December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Terminalling services

 

$

26,365

 

$

(12,423)

 

$

13,942

 

20 years

 

Customer relationships

 

 

43,986

 

 

(40,323)

 

 

3,663

 

2-15 years

 

Supply contracts

 

 

77,771

 

 

(31,674)

 

 

46,097

 

5-15 years

 

Favorable leasehold interests

 

 

2,960

 

 

(2,086)

 

 

874

 

2-5 years

 

Brand incentive program

 

 

1,445

 

 

(1,276)

 

 

169

 

5 years

 

Other intangible assets

 

 

779

 

 

(511)

 

 

268

 

20 years

 

Total intangible assets

 

$

153,306

 

$

(88,293)

 

$

65,013

 

 

At December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

Terminalling services

 

$

26,365

 

$

(11,087)

 

$

15,278

 

20 years

 

Customer relationships

 

 

43,986

 

 

(39,691)

 

 

4,295

 

2-15 years

 

Supply contracts

 

 

77,771

 

 

(24,412)

 

 

53,359

 

5-15 years

 

Favorable leasehold interests

 

 

2,960

 

 

(794)

 

 

2,166

 

2-5 years

 

Brand incentive program

 

 

1,445

 

 

(1,117)

 

 

328

 

5 years

 

Other intangible assets

 

 

779

 

 

(511)

 

 

268

 

20 years

 

Total intangible assets

 

$

153,306

 

$

(77,612)

 

$

75,694

 

 

 

 

Schedule of estimated annual intangible asset amortization expense for future years (in thousands)

 

 

 

 

 

2017

    

$

9,638

 

2018

 

 

9,060

 

2019

 

 

9,035

 

2020

 

 

8,897

 

2021

 

 

8,897

 

Thereafter

 

 

19,486

 

Total intangible assets

 

$

65,013