Sunoco LP
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
5. Inventories, net
- Inventories, net
Fuel inventories are stated at the lower of cost or market using the LIFO method. As of December 31, 2024 and 2023, the Partnership’s fuel inventory balance included lower of cost or market reserves of $316 million and $230 million, respectively. For the years ended December 31, 2024, 2023 and 2022, the Partnership’s consolidated statements of operations and comprehensive income did not include any material amounts of income from the liquidation of LIFO fuel inventory. For the years ended December 31, 2024 and 2023, the Partnership’s cost of sales included unfavorable inventory adjustments of $86 million, and $114 million, respectively, which decreased net income. For the year ended December 31, 2022, the Partnership’s cost of sales included favorable inventory adjustments of $5 million, which increased net income.
Inventories, net consisted of the following:
| December 31,2024 | December 31,2023 | |
|---|---|---|
| Fuel | $1,054 | $876 |
| Other | 14 | 13 |
| Inventories, net | $1,068 | $889 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.