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Three Months Ended December 31, | ||||||||
2016 | 2015 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 91,954 | $ | 80,973 | ||||
Adjust for general partner share and theoretical distributions of net income attributable to AmeriGas Partners, L.P. to the general partner in accordance with the two-class method for MLPs | (11,352 | ) | (9,455 | ) | ||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | 80,602 | $ | 71,518 | ||||
Weighted average Common Units outstanding — basic (thousands) | 92,967 | 92,922 | ||||||
Potentially dilutive Common Units (thousands) | 52 | 82 | ||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,019 | 93,004 |
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December 31, 2016 | September 30, 2016 | December 31, 2015 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,979,146 | $ | 1,978,981 | $ | 1,971,999 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 520,480 | $ | 520,180 | $ | 523,783 | ||||||
Accumulated amortization | (201,236 | ) | (191,805 | ) | (172,972 | ) | ||||||
Intangible assets, net (definite-lived) | 319,244 | 328,375 | 350,811 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 402,188 | $ | 411,319 | $ | 433,755 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
December 31, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 34,625 | $ | — | $ | 34,625 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (151 | ) | $ | — | $ | (151 | ) | ||||||
September 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 13,522 | $ | — | $ | 13,522 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (4,779 | ) | $ | — | $ | (4,779 | ) | ||||||
December 31, 2015: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 476 | $ | — | $ | 476 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (63,446 | ) | $ | — | $ | (63,446 | ) |
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December 31, 2016 | September 30, 2016 | December 31, 2015 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | 34,625 | $ | 13,522 | $ | 476 | ||||||
Total derivative assets — gross | 34,625 | 13,522 | 476 | |||||||||
Gross amounts offset in the balance sheet | (151 | ) | (4,362 | ) | (476 | ) | ||||||
Total derivative assets — net | $ | 34,474 | $ | 9,160 | $ | — | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | (151 | ) | $ | (4,779 | ) | $ | (63,446 | ) | |||
Total derivative liabilities — gross | (151 | ) | (4,779 | ) | (63,446 | ) | ||||||
Gross amounts offset in the balance sheet | 151 | 4,362 | 476 | |||||||||
Cash collateral pledged | — | — | 4,480 | |||||||||
Total derivative liabilities — net | $ | — | $ | (417 | ) | $ | (58,490 | ) |
Gain (Loss) Recognized in Income | Location of Gain (Loss) Recognized in Income | |||||||||
Three Months Ended December 31, | 2016 | 2015 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | 32,100 | $ | (27,707 | ) | Cost of sales — propane |
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Three Months Ended December 31, | ||||||||
2016 | 2015 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 91,954 | $ | 80,973 | ||||
Adjust for general partner share and theoretical distributions of net income attributable to AmeriGas Partners, L.P. to the general partner in accordance with the two-class method for MLPs | (11,352 | ) | (9,455 | ) | ||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | 80,602 | $ | 71,518 | ||||
Weighted average Common Units outstanding — basic (thousands) | 92,967 | 92,922 | ||||||
Potentially dilutive Common Units (thousands) | 52 | 82 | ||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,019 | 93,004 |
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December 31, 2016 | September 30, 2016 | December 31, 2015 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,979,146 | $ | 1,978,981 | $ | 1,971,999 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 520,480 | $ | 520,180 | $ | 523,783 | ||||||
Accumulated amortization | (201,236 | ) | (191,805 | ) | (172,972 | ) | ||||||
Intangible assets, net (definite-lived) | 319,244 | 328,375 | 350,811 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 402,188 | $ | 411,319 | $ | 433,755 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
December 31, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 34,625 | $ | — | $ | 34,625 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (151 | ) | $ | — | $ | (151 | ) | ||||||
September 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 13,522 | $ | — | $ | 13,522 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (4,779 | ) | $ | — | $ | (4,779 | ) | ||||||
December 31, 2015: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 476 | $ | — | $ | 476 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (63,446 | ) | $ | — | $ | (63,446 | ) |
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December 31, 2016 | September 30, 2016 | December 31, 2015 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | 34,625 | $ | 13,522 | $ | 476 | ||||||
Total derivative assets — gross | 34,625 | 13,522 | 476 | |||||||||
Gross amounts offset in the balance sheet | (151 | ) | (4,362 | ) | (476 | ) | ||||||
Total derivative assets — net | $ | 34,474 | $ | 9,160 | $ | — | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | (151 | ) | $ | (4,779 | ) | $ | (63,446 | ) | |||
Total derivative liabilities — gross | (151 | ) | (4,779 | ) | (63,446 | ) | ||||||
Gross amounts offset in the balance sheet | 151 | 4,362 | 476 | |||||||||
Cash collateral pledged | — | — | 4,480 | |||||||||
Total derivative liabilities — net | $ | — | $ | (417 | ) | $ | (58,490 | ) |
Gain (Loss) Recognized in Income | Location of Gain (Loss) Recognized in Income | |||||||||
Three Months Ended December 31, | 2016 | 2015 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | 32,100 | $ | (27,707 | ) | Cost of sales — propane |
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