Investor Presentaiton
Financial Reconciliations: Product Margin
(In thousands)
(Unaudited)
Reconciliation of gross profit to product margin
Three Months Ended
Year Ended December 31,
December 31,
2016
2017
2018
2019
2020
2019
2020
Wholesale segment:
Gasoline and gasoline blendstocks
Crude oil
Other oils and related products
Total
$
83,742
$
(13,098)
82,124
7,279
$
76,741
7,159
$ 83,982
(13,047)
$ 100,818
$
7,414
$
17,577
(672)
(3,004)
(2,676)
74,271
62,799
53,389
51,584
82,999
11,018
24,235
144,915
152,202
137,289
122,519
183,145
15,428
39,136
Gasoline Distribution and Station Operations segment:
Gasoline distribution
289,420
326,536
373,303
374,550
398,016
91,631
92,611
Station operations
183,708
174,986
203,098
225,078
205,926
55,457
51,022
Total
Commercial segment
473,128
501,522
576,401
599,628
603,942
147,088
143,633
24,018
17,858
23,611
28,540
15,195
10,323
3,422
Combined product margin
Depreciation allocated to cost of sales
642,061
(95,571)
671,582
(88,530)
737,301
(86,892)
750,687
(87,930)
802,282
(81,144)
172,839
(21,838)
186,191
(19,979)
Gross profit
$ 546,490
$ 583,052
$ 650,409
$ 662,757
$ 721,138
$ 151,001
$ 166,212
27
GLOBALView entire presentation