other, versus income of $12 million in the rst quarter of 2017.
Loss from discontinued operations, net of income taxes, was $237 million versus a loss from discontinued
operations, net of income taxes, of $11 million in the rst quarter of 2017.
Net loss was $315 million, or ($3.74) per diluted unit, versus a net income of $1 million, or ($0.22) per diluted
unit, in the rst quarter of 2017.
Adjusted EBITDA for the quarter totaled $109 million, compared with $155 million in the rst quarter of 2017.
Distributable Cash Flow, as adjusted, was $85 million, compared to $77 million a year ago. This year-over-year
increase reects lower cash interest expense and a decrease in maintenance capital spend.
On a weighted-average basis, fuel margin for all gallons sold was 10.5 cents per gallon, compared to 14.5 cents
per gallon in the rst quarter of 2017. The 4.0 cent per gallon decrease was attributable to a shift in volumes
away from the retail segment to the wholesale segment and the adoption of revenue recognition.
Net loss for the wholesale segment was $58 million compared to net income of $38 million a year ago. Adjusted
EBITDA was $80 million, versus $91 million in the rst quarter of last year. Total wholesale gallons sold were
1,612 million, compared to 1,313 million in the rst quarter of 2017, an increase of 22.8 percent. The
Partnership earned 8.4 cents per gallon on these volumes, compared to 10.6 cents per gallon a year earlier.
Net loss for the retail segment was $257 million compared to a net loss of $37 million a year ago. Adjusted
EBITDA was $29 million, versus $64 million in the rst quarter of last year. Total retail gallons sold were 245
million, down from 595 million gallons a year ago as volumes migrated to the wholesale segment. The
Partnership earned 24.4 cents per gallon on these volumes, compared to 23.1 cents per gallon a year earlier.
SUN's recent accomplishments include the following:
Closed the strategic divestiture of company-operated sites in the continental United States to 7-Eleven, Inc.
on January 23, 2018 for gross proceeds of approximately $3.2 billion
Completed the following renancing and equity repurchase initiatives:
Closed the private oering of $2.2 billion of new senior notes on January 23, 2018, comprised of $1.0
billion in aggregate principal amount of 4.875% senior notes due 2023, $800 million in aggregate
principal amount of 5.500% senior notes due 2026 and $400 million in aggregate principal amount of
5.875% senior notes due 2028. Proceeds from this oering were used to redeem in full amounts
owed under existing senior notes