Wholesale Fuel - Susser's wholesale segment includes all of SUSP
's operations along with the consignment sales and transportation businesses that were not contributed to SUSP
in the IPO in September 2012.
Since its initial public offering in September 2012, SUSP has completed the purchase and leaseback of 49 newly built and acquired stores for a cumulative cost of $204.
At June 30, SUSP had borrowings against its revolving line of credit of $232.
On a comparable basis adjusting for the 3-cent-per-gallon mark-up that Stripes now pays to SUSP, average retail margin for 2012 was 19.
6 million related to the SUSP IPO in the third quarter of 2012, adjusted net income for the full year 2012 was $50.
Wholesale segment margin on third-party gallons includes SUSP operations and gallons sold at consignment locations retained by SUSS, but excludes gallons sold to the retail division.
Wholesale segment margin to Stripes retail stores reflects the mark-up charged by SUSP effective September 25, 2012.
The impact of sales of stores by SUSS to SUSP under sale leaseback agreements does not impact Susser's consolidated capital expenditures or rent expense.