ARKO Corp.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
ARKO$4.24+1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income | $22,744 | $20,845 | $34,566 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 134,451 | 132,414 | 127,597 |
| Deferred income taxes | 5,064 | (12,796) | (4,680) |
| Loss on disposal of assets and impairment charges | 8,631 | 6,798 | 6,203 |
| Gain from sale-leaseback | (20,777) | — | — |
| Foreign currency (gain) loss | (86) | 35 | 29 |
| Gain from issuance of shares as payment of deferred consideration related to business acquisition (see Note 4) | — | (2,681) | — |
| Gain from settlement related to business acquisition (see Note 4) | — | (6,356) | — |
| Amortization of deferred financing costs and debt discount | 2,856 | 2,669 | 2,518 |
| Amortization of deferred income | (21,758) | (14,477) | (8,142) |
| Accretion of asset retirement obligation | 2,529 | 2,532 | 2,399 |
| Non-cash rent | 12,132 | 14,335 | 14,168 |
| Charges to allowance for credit losses | 755 | 845 | 1,265 |
| (Income) loss from equity investment | (108) | (124) | 39 |
| Share-based compensation | 15,172 | 12,339 | 15,015 |
| Fair value adjustment of financial assets and liabilities | (9,695) | (10,985) | (10,785) |
| Other operating activities, net | (981) | 125 | 2,631 |
| Changes in assets and liabilities: | |||
| Decrease (increase) in trade receivables | 7,746 | 38,058 | (17,937) |
| Decrease (increase) in inventory | 40,627 | 22,689 | (2,013) |
| (Increase) decrease in other assets | (14,907) | 13,893 | (29,386) |
| Decrease in accounts payable | (33,976) | (24,169) | (6,169) |
| Increase (decrease) in other current liabilities | 8,280 | (2,820) | 990 |
| Decrease in asset retirement obligation | (604) | (917) | (23) |
| Increase in non-current liabilities | 34,490 | 29,606 | 7,809 |
| Net cash provided by operating activities | $192,585 | $221,858 | $136,094 |
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | $(127,286) | $(113,914) | $(111,164) |
| Purchase of intangible assets | (83) | — | (45) |
| Proceeds from sale of property and equipment | 7,198 | 53,549 | 310,240 |
| Business and asset acquisitions, net of cash | (242) | (54,549) | (494,871) |
| Prepayment for acquisitions | — | — | (1,000) |
| Loans to equity investment, net | 621 | 56 | 18 |
| Net cash used in investing activities | (119,792) | (114,858) | (296,822) |
| Cash flows from financing activities: | |||
| Receipt of long-term debt, net | 38,838 | 47,556 | 99,643 |
| Repayment of debt | (24,102) | (26,357) | (22,157) |
| Principal payments on financing leases | (5,704) | (4,940) | (5,497) |
| Early settlement of deferred consideration related to business acquisition (see Note 4) | — | (17,155) | — |
| Proceeds from sale-leaseback | — | — | 80,397 |
| Payment of Additional Consideration | (3,210) | (3,354) | (3,505) |
| Payment of Ares Put Option | — | — | (9,808) |
| Common stock repurchased | (27,964) | (31,989) | (33,694) |
| Dividends paid on common stock | (13,622) | (14,015) | (14,272) |
| Dividends paid on redeemable preferred stock | (5,750) | (5,750) | (5,750) |
| Net cash (used in) provided by financing activities | (41,514) | (56,004) | 85,357 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 31,279 | 50,996 | (75,371) |
| Effect of exchange rate on cash and cash equivalents and restricted cash | 27 | (9) | 23 |
| Cash and cash equivalents and restricted cash, beginning of year | 292,408 | 241,421 | 316,769 |
| Cash and cash equivalents and restricted cash, end of year | $323,714 | $292,408 | $241,421 |
| Reconciliation of cash and cash equivalents and restricted cash | |||
| Cash and cash equivalents, beginning of year | $261,758 | $218,120 | $298,529 |
| Restricted cash, beginning of year | 30,650 | 23,301 | 18,240 |
| Cash and cash equivalents and restricted cash, beginning of year | $292,408 | $241,421 | $316,769 |
| Cash and cash equivalents, end of year | $305,004 | $261,758 | $218,120 |
| Restricted cash, end of year | 18,710 | 30,650 | 23,301 |
| Cash and cash equivalents and restricted cash, end of year | $323,714 | $292,408 | $241,421 |
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplementary cash flow information: | |||
| Cash received for interest | $10,750 | $9,485 | $7,944 |
| Cash paid for interest | 87,269 | 92,103 | 82,477 |
| Cash paid for taxes, net of refunds | 5,041 | 9,659 | 28,620 |
| Supplementary noncash activities: | |||
| Prepaid insurance premiums financed through notes payable | 9,346 | 7,703 | 10,711 |
| Purchases of equipment in accounts payable and accrued expenses | 12,597 | 10,211 | 14,888 |
| Purchase of property and equipment under leases | 57,638 | 55,687 | 7,870 |
| Disposals of leases of property and equipment | 12,920 | 14,044 | 22,986 |
| Extinguishment of financial liability in a sale-leaseback transaction | 42,430 | — | — |
| Issuance of shares as payment of deferred consideration related to business acquisition | — | 22,319 | — |
| Deferred consideration related to business acquisitions | — | — | 47,000 |
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