Assets and Liabilities Held for Sale

3 Months Ended

Mar. 31, 2026

BW Ultimate Parent, LLC and Subsidiaries

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Assets and Liabilities Held for Sale

3.	Assets and Liabilities Held for Sale

In the first quarter of 2025, the Company committed to a plan to sell a disposal group that includes all of its 29 operating Iowa and Kansas convenience stores. The assets and related liabilities were classified as held for sale as of March 31, 2025. These assets and liabilities were not considered significant to the Company and did not represent a strategic shift. As of March 31, 2026, the disposal group continued to meet the criteria to be classified as held for sale under ASC 360, “Property, Plant, and Equipment”. We expect to sell these stores by the end of 2026.

Held-for-Sale Criteria and Impairment

The assets and liabilities of the disposal group are classified as held for sale in the unaudited Condensed Consolidated Balance Sheet as of March 31, 2026, and are measured at the lower of their carrying amount or fair value less costs to sell.

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The Company has actively initiated a program to find a buyer and is marketing the property at a price reasonable in relation to its current fair value.

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The sale is considered highly probable and is expected to be completed within one year. Management is committed to the plan, and it is unlikely that significant changes will be made or that the plan will be withdrawn.

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Upon classification as held for sale, the Company ceased amortizing the long-lived assets.

The carrying amounts of the major classes of assets and liabilities included in the disposal group classified as held for sale are as follows:


		Carrying Amount			Carrying Amount
		as of			as of
Assets		March 31, 2026			December 31, 2025
Goodwill		$	1,460		$	1,460
Property and equipment, net			15,139			15,041
Total assets held for sale		$	16,599		$	16,501


		Carrying Amount			Carrying Amount
		as of			as of
Liabilities		March 31, 2026			December 31, 2025
Asset retirement obligations		$	1,422		$	1,422
Total liabilities held for sale		$	1,422		$	1,422

There was no impairment charge recorded for the three months ended March 31, 2026, and March 31, 2025, as the fair value exceeded carrying value.