“For the three months ended March 31, 2026 compared to the same period last year, net income increased by $398 million , or approximately 192%, primarily due to higher Segment Adjusted EBITDA from multiple segments, with the most significant increases driven by the Parkland Acquisition and other acquisitions; these increases were partially offset by increases in depreciation, amortization and accretion and interest expense.”
“This increase was primarily attributable to an increase in average total long-term debt, including debt assumed in the NuStar Acquisition. (Gain) Loss on Disposal of Assets and Impairment Charges .”
“Significant items subject to such estimates and assumptions include excess and obsolete inventory, inventory net realizable value, product warranty obligations, capitalized implementation costs, fair value of assets acquired and liabilities assumed in a business combination, goodwill and other intangible assets impairment and the measurement of income tax assets and liabilities.”