Slide 1: Condensed Consolidated Balance Sheet
The accompanying notes are an integral part of the consolidated financial statements Condensed Consolidated Balance Sheet September 30, 2021 (Unaudited)
Slide 2: Liabilities and Members' Capital
LIABILITIES AND MEMBERS’ CAPITAL RENT a SLITS aad | ‘abi ies Current portion of accrued environmental mediation costs Total current liabilities Accrued environmental remediation costs, net of current portion Line of godt are ong debt, iste rate. won contracts Other long-term liabilti Total liabiliti
Slide 3: Condensed Consolidated Income Statement
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements Condensed Consolidated Income Statement Nine Months Ended September 30, 2021 (Unaudited)
Slide 4: Slide 4
Slide 5: Condensed Consolidated Statement of Members' Capital
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements Condensed Consolidated Statement of Members’ Capital Nine Months Ended September 30, 2021 (Unaudited)
Slide 6: Condensed Consolidated Statement of Cash Flows
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements Condensed Consolidated Statement of Cash Flows Nine Months Ended September 30, 2021 (Unaudited)
Slide 7: Condensed Consolidated Statement of Cash Flows
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements Condensed Consolidated Statement of Cash Flows Nine Months Ended September 30, 2021 (Unaudited)
Slide 8: Notes to Unaudited Condensed Consolidated Financial Statements
The accompanying notes are an integral part of the unaudited condensed consolidated financial statements Notes to Unaudited Condensed Consolidated Financial Statements NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of consolidation – The accompanying condensed consolidate
Slide 9: Note 5 - Intangible Assets
Depreciation expense totaled $8,033,750 for the nine months ended September 30, 2021. NOTE 5 – INTANGIBLE ASSETS Intangible assets consist of the following at September 30, 2021:
Slide 10: Amortization expense and estimated future amortization
Amortization expense totaled $2,717,973 for the nine months ended September 30, 2021. Notes to Unaudited Condensed Consolidated Financial Statements Estimated future amortization expense for intangible assets is as follows:
Slide 11: Note - Goodwill
NOTE 6 – GOODWILL Goodwill consists of the following at September 30,2021:
Slide 12: Note - Revolving Line of Credit and Long-Term Debt
NOTE 9 – REVOLVING LINE OF CREDIT AND LONG-TERM DEBT Revolving line of credit and long-term debt consist of the following at September 30:
Slide 13: Wells Fargo credit agreements
Wells Fargo credit agreements – The Company maintains a credit agreement, as amended and restated in May 2020, with Wells Fargo Bank (the Wells Fargo Credit Agreement). The Wells Fargo Credit Agreement provides for a revolving line of credit (the Line) of up to $150,000,000. The Line includes a prov
Slide 14: Note - Interest Rate Swap Contracts
NOTE 10 – INTEREST RATE SWAP CONTRACTS At September 30, 2021, the Company is party to two interest rate swap contracts with Wells Fargo Bank that involve the exchange of fixed interest rate payments at rates of 2.46% and 2.87% on notional amounts totaling $75,000,000. The notional amounts are reduce
Slide 15: Notes to Unaudited Condensed Consolidated Financial Statements
Notes to Unaudited Condensed Consolidated Financial Statements Subleases – The Company leases and subleases portions of several properties. Future minimum rentals to be received on noncancellable leases and subleases as of September 30, 2021 are as follows:
Slide 16: Rent expense, fuel purchase and lubricants distributor agreements
Rent expense for the nine months ended September 30, 2021 totaled $4,583,867. Rent income from leases and subleases for the nine months ended September 30, 2021 totaled $669,605, which is included in other revenues on the condensed consolidated income statement. Unbranded fuel purchase agreements –
Slide 17: Supplemental non-cash and related party transactions
Collection of notes receivable from Nella Invest, LLC Collection of related party accounts receivable Transfer of property, plant and equipment to Nella Invest, LLC Transfer of property, plant and equipment to Flyers Sustainable Energy, LLC Transfer of note payable to Flyers Sustainable Energy, LLC