Global Partners LP (GLP) financial statements: income statement, balance sheet and cash flow
Global Partners LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Global Partners LP reported revenue of $18.6B (+8.1% year on year) and net income of $98.0M (-11.2% year on year).
Income statement
Global Partners LP income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Sales
$18.6B
$17.2B
$16.5B
$18.9B
Cost of sales
$17.5B
$16.1B
$15.5B
$17.8B
Gross profit
$1.1B
$1.1B
$973.6M
$1.1B
Selling, general and administrative expenses
$305.7M
$292.1M
$273.7M
$263.1M
Operating expenses
$519.5M
$515.3M
$450.6M
$445.3M
Amortization expense
$5.3M
$8.3M
$8.1M
$8.9M
Net gain on sale and disposition of assets
($3.3M)
($9.5M)
($2.6M)
($79.9M)
Long-lived asset impairment
$231.0K
$492.0K
—
—
Total costs and operating expenses
$827.4M
$806.7M
$729.9M
$637.4M
Operating income
$234.7M
$251.2M
$243.8M
$460.3M
Income (loss) from equity method investments
$4.5M
($1.5M)
$2.5M
—
Interest expense
($137.2M)
($134.8M)
($85.6M)
($81.3M)
Loss on early extinguishment of debt
($3.0M)
—
—
—
Income before income tax expense
$99.0M
$114.9M
$160.6M
$379.0M
Income tax expense
($1.1M)
($4.6M)
($8.1M)
($16.8M)
Net income
$98.0M
$110.3M
$152.5M
$362.2M
Less: General partner's interest in net income, including incentive distribution rights
$18.8M
$15.3M
$9.9M
$7.1M
Net income attributable to common limited partners
$79.2M
$92.3M
$142.6M
$355.1M
Basic net income per common limited partner unit
$2.13
$2.45
$3.77
$10.06
Diluted net income per common limited partner unit
$2.11
$2.41
$3.76
$10.02
Basic weighted average common limited partner units outstanding
33.9M
33.8M
34.0M
33.9M
Diluted weighted average common limited partner units outstanding
34.2M
34.3M
34.0M
34.0M
Global Partners LP income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Sales
$6.8B
$5.3B
$4.7B
$4.6B
Cost of sales
$6.5B
$5.0B
$4.4B
$4.4B
Gross profit
$328.9M
$332.2M
$271.4M
$272.4M
Selling, general and administrative expenses
$83.0M
$99.3M
$76.3M
$74.8M
Operating expenses
$136.8M
$129.2M
$132.5M
$135.7M
Amortization expense
$1.3M
$1.3M
$1.3M
$1.4M
Net loss (gain) on sale and disposition of assets
$444.0K
($3.4M)
($136.0K)
$271.0K
Total costs and operating expenses
$221.6M
$226.4M
$210.0M
$212.3M
Operating income
$107.4M
$105.7M
$61.4M
$60.1M
Income from equity method investments
$2.0M
$739.0K
$655.0K
$2.4M
Interest expense
($33.1M)
($35.5M)
($33.3M)
($34.5M)
Income before income tax expense (benefit)
$76.3M
$71.0M
$28.6M
$25.1M
Income tax (expense) benefit
($5.3M)
($839.0K)
$447.0K
$112.0K
Net income
$71.0M
$70.1M
$29.0M
$25.2M
Less: General partner's interest in net income, including incentive distribution rights
$5.9M
$5.4M
$4.8M
$4.6M
Net income attributable to common limited partners
$65.1M
$64.7M
$24.2M
$20.6M
Basic net income per common limited partner unit
$1.87
$1.86
$0.66
$0.55
Diluted net income per common limited partner unit
$1.86
$1.85
$0.66
$0.55
Basic weighted average common limited partner units outstanding
33.9M
33.9M
33.9M
33.9M
Diluted weighted average common limited partner units outstanding
34.1M
34.0M
34.2M
34.1M
Balance sheet
Global Partners LP balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$12.2M
$8.2M
$19.6M
$4.0M
Accounts receivable, net (less allowance of $4,174 and $3,132 at December 31, 2025 and 2024, respectively)
$530.1M
$472.6M
$551.8M
$478.8M
Accounts receivable-affiliates
$2.6M
$6.3M
$8.1M
$2.4M
Inventories
$549.1M
$594.1M
$397.3M
$566.7M
Brokerage margin deposits
$17.8M
$20.1M
$12.8M
$23.4M
Derivative assets
$17.1M
$13.7M
$17.7M
$19.8M
Prepaid expenses and other current assets
$98.5M
$92.4M
$90.5M
$74.0M
Total current assets
$1.2B
$1.2B
$1.1B
$1.2B
Property and equipment, net
$1.7B
$1.7B
$1.5B
$1.2B
Right of use assets, net
$378.4M
$302.2M
$252.8M
$288.1M
Intangible assets, net
$13.3M
$18.7M
$20.7M
$26.9M
Goodwill
$421.9M
$421.9M
$429.2M
$427.8M
Equity method investments
$113.8M
$92.7M
$94.4M
—
Other assets
$38.4M
$38.7M
$37.5M
$30.7M
Total assets
$3.9B
$3.8B
$3.4B
$3.2B
Accounts payable
$573.2M
$510.0M
$648.7M
$530.9M
Working capital revolving credit facility-current portion
$126.1M
$129.5M
$16.8M
$153.4M
Lease liability-current portion
$73.8M
$56.8M
$59.9M
$64.9M
Environmental liabilities-current portion
$7.2M
$7.7M
$5.1M
$4.6M
Trustee taxes payable
$83.8M
$66.8M
$67.4M
$43.0M
Accrued expenses and other current liabilities
$207.6M
$223.3M
$179.9M
$157.0M
Derivative liabilities
$4.5M
$6.1M
$5.0M
$17.7M
Total current liabilities
$1.1B
$1.0B
$982.8M
$971.5M
Working capital revolving credit facility-less current portion
$100.0M
$100.0M
—
—
Revolving credit facility
$103.5M
$167.0M
$380.0M
$99.0M
Senior notes
$1.2B
$1.2B
$742.7M
$741.0M
Lease liability-less current portion
$311.4M
$251.7M
$200.2M
$231.4M
Environmental liabilities-less current portion
$88.8M
$91.4M
$71.1M
$64.0M
Financing obligations
$128.5M
$134.5M
$138.5M
$141.8M
Deferred tax liabilities
$64.5M
$63.5M
$68.9M
$66.4M
Other long-term liabilities
$69.5M
$76.6M
$61.2M
$57.3M
Total liabilities
$3.2B
$3.1B
$2.6B
$2.4B
Limited partner interest
$672.0M
$713.5M
$798.5M
$788.5M
General partner interest (0.67% interest with 230,303 equivalent units outstanding at December 31, 2025 and 2024)
$3.6M
$3.1M
$1.8M
$406.0K
Total partners' equity
$675.5M
$716.6M
$800.7M
$788.4M
Total liabilities and partners' equity
$3.9B
$3.8B
$3.4B
$3.2B
Global Partners LP balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$23.9M
$18.4M
$17.9M
$16.1M
Accounts receivable, net
$706.3M
$772.9M
$521.5M
$564.0M
Accounts receivable-affiliates
$3.5M
$5.2M
$5.1M
$7.1M
Inventories
$577.8M
$736.1M
$478.5M
$495.6M
Brokerage margin deposits
$18.3M
$41.3M
$20.6M
$23.9M
Derivative assets
$11.0M
$41.5M
$8.2M
$18.2M
Prepaid expenses and other current assets
$85.1M
$92.4M
$82.4M
$90.3M
Total current assets
$1.4B
$1.7B
$1.1B
$1.2B
Property and equipment, net
$1.7B
$1.7B
$1.7B
$1.7B
Right of use assets, net
$361.4M
$364.9M
$323.0M
$310.9M
Intangible assets, net
$10.8M
$12.1M
$14.6M
$15.9M
Goodwill
$421.9M
$421.9M
$421.9M
$421.9M
Equity method investments
$117.4M
$115.9M
$112.5M
$110.7M
Other assets
$32.1M
$36.5M
$40.2M
$41.4M
Total assets
$4.0B
$4.3B
$3.7B
$3.8B
Accounts payable
$714.3M
$749.8M
$486.3M
$590.4M
Working capital revolving credit facility-current portion
$74.6M
$308.3M
$140.6M
$98.5M
Lease liability-current portion
$72.1M
$74.4M
$55.0M
$54.0M
Environmental liabilities-current portion
$7.4M
$7.4M
$7.7M
$7.7M
Trustee taxes payable
$78.7M
$75.1M
$63.5M
$83.4M
Accrued expenses and other current liabilities
$204.7M
$189.7M
$167.2M
$179.4M
Derivative liabilities
$43.9M
$118.7M
$13.5M
$13.9M
Total current liabilities
$1.2B
$1.5B
$933.9M
$1.0B
Working capital revolving credit facility-less current portion
$100.0M
$100.0M
$100.0M
$100.0M
Revolving credit facility
$103.5M
$103.5M
$124.8M
$88.2M
Senior notes
$1.2B
$1.2B
$1.2B
$1.3B
Lease liability-less current portion
$297.8M
$298.3M
$274.1M
$262.4M
Environmental liabilities-less current portion
$86.0M
$87.4M
$89.0M
$89.4M
Financing obligations
$125.8M
$127.2M
$131.0M
$132.2M
Deferred tax liabilities
$67.7M
$64.7M
$64.5M
$60.4M
Other long-term liabilities
$62.3M
$62.7M
$68.4M
$67.3M
Total liabilities
$3.3B
$3.6B
$3.0B
$3.1B
Limited partner interest
$743.8M
$707.8M
$679.0M
$683.0M
General partner interest (0.67% interest with 230,303 equivalent units outstanding at June 30, 2026 and December 31, 2025)
$4.7M
$4.0M
$3.5M
$3.3M
Total partners' equity
$748.6M
$711.8M
$682.5M
$686.3M
Total liabilities and partners' equity
$4.0B
$4.3B
$3.7B
$3.8B
Cash flow statement
Global Partners LP cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$98.0M
$110.3M
$152.5M
$362.2M
Depreciation and amortization
$142.6M
$139.7M
$110.1M
$104.8M
Amortization of deferred financing fees
$7.5M
$7.4M
$5.7M
$5.4M
Bad debt expense
$1.2M
($20.0K)
$855.0K
$131.0K
Unit-based compensation expense
$13.4M
$15.5M
$10.6M
$2.7M
Net gain on sale and disposition of assets
($3.3M)
($9.5M)
($2.6M)
($79.9M)
Long-lived asset impairment
$231.0K
$492.0K
—
—
Deferred income taxes
$986.0K
($5.4M)
$2.5M
$9.6M
(Income) loss from equity method investments
($4.5M)
$1.5M
($2.5M)
—
Dividends received on equity method investments
$477.0K
$204.0K
$1.4M
—
Loss on early extinguishment of debt
$3.0M
—
—
—
Accounts receivable
($58.8M)
$79.2M
($73.8M)
($67.8M)
Accounts receivable-affiliate
$3.6M
$1.9M
($5.8M)
($1.2M)
Inventories
$44.4M
($200.4M)
$172.1M
($52.1M)
Broker margin deposits
$2.3M
($7.4M)
$10.7M
$10.2M
Prepaid expenses, all other current assets and other assets
($12.4M)
($2.2M)
($19.2M)
$14.0M
Accounts payable
$63.2M
($138.7M)
$117.8M
$177.6M
Trustee taxes payable
$17.0M
($645.0K)
$24.4M
($1.3M)
Change in derivatives
($4.9M)
$5.1M
($10.5M)
($22.2M)
Accrued expenses, all other current liabilities and other long-term liabilities
($29.2M)
$33.0M
$17.8M
$17.6M
Net cash provided by operating activities
$284.8M
$31.6M
$512.4M
$480.0M
Equity method investments
($29.5M)
($19.1M)
($95.3M)
—
Capital expenditures
($91.5M)
($103.3M)
($88.8M)
($106.8M)
Seller note issuances, net
$938.0K
($7.0M)
($8.5M)
($1.7M)
Dividends received of equity method investments
$12.5M
$19.1M
$2.1M
—
Proceeds from sale of property and equipment, net
$6.6M
$48.6M
$12.9M
$128.5M
Net cash used in investing activities
($101.0M)
($276.9M)
($492.4M)
($236.2M)
Net (payments on) borrowings from revolving credit facility
($66.9M)
($300.0K)
$144.4M
($145.7M)
Proceeds from senior notes, net
$441.2M
$441.3M
—
—
Repayment of senior notes
($400.0M)
—
—
—
Repurchase of common units
($10.0M)
($14.2M)
($3.5M)
($2.9M)
LTIP units withheld for tax obligations
($13.4M)
($1.8M)
($469.0K)
($1.6M)
Distribution equivalent rights
($4.0M)
($566.0K)
($149.0K)
—
Distributions to limited partners and general partner
($126.6M)
($121.6M)
($144.7M)
($100.5M)
Net cash (used in) provided by financing activities
($179.8M)
$233.8M
($4.5M)
($250.6M)
Increase (decrease) in cash and cash equivalents
$4.0M
($11.4M)
$15.6M
($6.8M)
Cash and cash equivalents at beginning of period
$8.2M
$19.6M
$4.0M
$10.8M
Cash and cash equivalents at end of period
$12.2M
—
—
—
Cash paid during the period for interest
$128.9M
$94.7M
$65.3M
$60.9M
Net cash paid during the period for income taxes
$5.7M
$9.3M
$2.9M
$8.1M
Global Partners LP cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$141.1M
$70.1M
$72.9M
$43.9M
Depreciation and amortization
$72.2M
$35.6M
$107.3M
$72.0M
Amortization of deferred financing fees
$4.0M
$1.9M
$5.6M
$3.7M
Bad debt expense
$1.1M
$851.0K
$1.1M
$794.0K
Unit-based compensation expense
$13.1M
$7.4M
$10.1M
$6.8M
Net gain on sale and disposition of assets
($3.0M)
($3.4M)
($2.4M)
($2.2M)
Income from equity method investments
($2.7M)
($739.0K)
($3.1M)
($2.4M)
Dividends received on equity method investments
$487.0K
—
$477.0K
—
Accounts receivable
($177.3M)
($243.7M)
($50.0M)
($92.2M)
Accounts receivable-affiliate
($912.0K)
($2.6M)
$1.2M
($882.0K)
Inventories
($28.9M)
($187.0M)
$115.0M
$98.1M
Broker margin deposits
($533.0K)
($23.5M)
($464.0K)
($3.7M)
Prepaid expenses, all other current assets and other assets
$12.6M
$6.2M
$3.6M
($3.2M)
Accounts payable
$141.1M
$176.6M
($23.6M)
$80.4M
Trustee taxes payable
($5.1M)
($8.7M)
($3.3M)
$16.7M
Change in derivatives
$45.5M
$89.6M
$12.9M
$3.4M
Accrued expenses, all other current liabilities and other long-term liabilities
($8.0M)
($23.3M)
($67.0M)
($59.4M)
Net cash provided by operating activities
$204.7M
($104.7M)
$183.8M
$164.7M
Equity method investments
($7.1M)
($4.5M)
($24.9M)
($20.3M)
Capital expenditures
($66.8M)
($31.9M)
($52.7M)
($33.0M)
Seller note issuances, net
$3.2M
($5.0K)
$531.0K
$142.0K
Dividends received of equity method investments
$5.6M
$3.1M
$7.7M
$4.7M
Proceeds from sale of property and equipment, net
$5.8M
$5.2M
$4.5M
$4.0M
Net cash used in investing activities
($59.3M)
($28.1M)
($64.8M)
($44.4M)
Net payments on working capital revolving credit facility
($51.5M)
$182.2M
($31.1M)
($109.8M)
Repurchase of common units
($6.0M)
—
($7.4M)
($3.6M)
LTIP units withheld for tax obligations
($7.6M)
($7.5M)
($13.4M)
($13.4M)
Distribution equivalent rights
($3.3M)
($3.3M)
($4.0M)
($4.0M)
Distributions to limited partners and general partner