| Revenue from Contracts with Customers |
Note 2. Revenue from Contracts with Customers Disaggregation of Revenue The following table provides the disaggregation of revenue from contracts with customers and other sales by segment for the periods presented (in thousands): | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Revenue from contracts with customers: | | Wholesale | | GDSO | | Commercial | | Total | | Petroleum and related product sales | | $ | 676,614 | | $ | 1,077,203 | | $ | 210,796 | | $ | 1,964,613 | | Station operations | | | — | | | 120,228 | | | — | | | 120,228 | | Total revenue from contracts with customers | | | 676,614 | | | 1,197,431 | | | 210,796 | | | 2,084,841 | | Other sales: | | | | | | | | | | Revenue originating as physical forward sale contracts and exchange agreements | | | 2,454,816 | | | — | | | 65,055 | | | 2,519,871 | | Revenue from leases | | | 1,070 | | | 21,143 | | | — | | | 22,213 | | Total other sales | | | 2,455,886 | | | 21,143 | | | 65,055 | | | 2,542,084 | | Total sales | | $ | 3,132,500 | | $ | 1,218,574 | | $ | 275,851 | | $ | 4,626,925 | |
| | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | Revenue from contracts with customers: | | Wholesale | | GDSO | | Commercial | | Total | | Petroleum and related product sales | | $ | 643,808 | | $ | 1,316,548 | | $ | 193,105 | | $ | 2,153,461 | | Station operations | | | — | | | 128,456 | | | — | | | 128,456 | | Total revenue from contracts with customers | | | 643,808 | | | 1,445,004 | | | 193,105 | | | 2,281,917 | | Other sales: | | | | | | | | | | Revenue originating as physical forward sale contracts and exchange agreements | | | 2,018,044 | | | — | | | 87,832 | | | 2,105,876 | | Revenue from leases | | | 836 | | | 21,069 | | | — | | | 21,905 | | Total other sales | | | 2,018,880 | | | 21,069 | | | 87,832 | | | 2,127,781 | | Total sales | | $ | 2,662,688 | | $ | 1,466,073 | | $ | 280,937 | | $ | 4,409,698 | |
| | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | Revenue from contracts with customers: | | Wholesale | | GDSO | | Commercial | | Total | | Petroleum and related product sales | | $ | 1,542,803 | | $ | 2,082,558 | | $ | 413,307 | | $ | 4,038,668 | | Station operations | | | — | | | 220,582 | | | — | | | 220,582 | | Total revenue from contracts with customers | | | 1,542,803 | | | 2,303,140 | | | 413,307 | | | 4,259,250 | | Other sales: | | | | | | | | | | | | | | Revenue originating as physical forward sale contracts and exchange agreements | | | 4,778,131 | | | — | | | 137,596 | | | 4,915,727 | | Revenue from leases | | | 2,002 | | | 42,143 | | | — | | | 44,145 | | Total other sales | | | 4,780,133 | | | 42,143 | | | 137,596 | | | 4,959,872 | | Total sales | | $ | 6,322,936 | | $ | 2,345,283 | | $ | 550,903 | | $ | 9,219,122 | |
| | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | Revenue from contracts with customers: | | Wholesale | | GDSO | | Commercial | | Total | | Petroleum and related product sales | | $ | 1,457,227 | | $ | 2,413,825 | | $ | 375,226 | | $ | 4,246,278 | | Station operations | | | — | | | 238,288 | | | — | | | 238,288 | | Total revenue from contracts with customers | | | 1,457,227 | | | 2,652,113 | | | 375,226 | | | 4,484,566 | | Other sales: | | | | | | | | | | Revenue originating as physical forward sale contracts and exchange agreements | | | 3,843,229 | | | — | | | 184,310 | | | 4,027,539 | | Revenue from leases | | | 1,580 | | | 41,405 | | | — | | | 42,985 | | Total other sales | | | 3,844,809 | | | 41,405 | | | 184,310 | | | 4,070,524 | | Total sales | | $ | 5,302,036 | | $ | 2,693,518 | | $ | 559,536 | | $ | 8,555,090 | |
Contract Balances A receivable, which is included in accounts receivable, net in the accompanying consolidated balance sheets, is recognized in the period the Partnership provides services when its right to consideration is unconditional. In contrast, a contract asset will be recognized when the Partnership has fulfilled a contract obligation but must perform other obligations before being entitled to payment. The Partnership had no significant contract assets at both June 30, 2025 and December 31, 2024. The nature of the receivables related to revenue from contracts with customers and other revenue, as well as contract assets, are the same, given they are related to the same customers and have the same risk profile and securitization. Payment terms on invoiced amounts are typically 2 to 30 days. A contract liability is recognized when the Partnership has an obligation to transfer goods or services to a customer for which the Partnership has received consideration (or the amount is due) from the customer. The Partnership had no significant contract liabilities at both June 30, 2025 and December 31, 2024.
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