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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Net (loss) income attributable to AmeriGas Partners, L.P. | $ | (46,752 | ) | $ | (33,069 | ) | $ | 180,290 | $ | 293,812 | ||||||
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 | (10,862 | ) | (10,101 | ) | (34,908 | ) | (33,039 | ) | ||||||||
Common Unitholders’ interest in net (loss) income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | (57,614 | ) | $ | (43,170 | ) | $ | 145,382 | $ | 260,773 | ||||||
Weighted average Common Units outstanding — basic (thousands) | 93,009 | 92,960 | 92,993 | 92,945 | ||||||||||||
Potentially dilutive Common Units (thousands) | — | — | 52 | 74 | ||||||||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,009 | 92,960 | 93,045 | 93,019 |
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June 30, 2017 | September 30, 2016 | June 30, 2016 | ||||||||||
Goodwill (not subject to amortization) | $ | 2,002,046 | $ | 1,978,981 | $ | 1,978,894 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 536,894 | $ | 520,180 | $ | 529,739 | ||||||
Accumulated amortization | (220,100 | ) | (191,805 | ) | (192,210 | ) | ||||||
Intangible assets, net (definite-lived) | 316,794 | 328,375 | 337,529 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 399,738 | $ | 411,319 | $ | 420,473 |
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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Early redemption premiums | $ | 3,588 | $ | 30,338 | $ | 51,253 | $ | 30,338 | ||||||||
Write-off of unamortized debt issuance costs | 846 | 6,748 | 8,476 | 6,748 | ||||||||||||
Loss on extinguishments of debt | $ | 4,434 | $ | 37,086 | $ | 59,729 | $ | 37,086 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
June 30, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 6,369 | $ | — | $ | 6,369 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (6,481 | ) | $ | — | $ | (6,481 | ) | ||||||
September 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 13,522 | $ | — | $ | 13,522 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (4,779 | ) | $ | — | $ | (4,779 | ) | ||||||
June 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 14,063 | $ | — | $ | 14,063 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (9,729 | ) | $ | — | $ | (9,729 | ) |
June 30, 2017 | September 30, 2016 | June 30, 2016 | |||||||||
Carrying amount | $ | 2,611,981 | $ | 2,360,434 | $ | 2,718,085 | |||||
Estimated fair value | $ | 2,667,681 | $ | 2,483,565 | $ | 2,774,520 |
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June 30, 2017 | September 30, 2016 | June 30, 2016 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | 6,369 | $ | 13,522 | $ | 14,063 | ||||||
Total derivative assets — gross | 6,369 | 13,522 | 14,063 | |||||||||
Gross amounts offset in the balance sheet | (4,010 | ) | (4,362 | ) | (4,204 | ) | ||||||
Total derivative assets — net | $ | 2,359 | $ | 9,160 | $ | 9,859 | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | (6,481 | ) | $ | (4,779 | ) | $ | (9,729 | ) | |||
Total derivative liabilities — gross | (6,481 | ) | (4,779 | ) | (9,729 | ) | ||||||
Gross amounts offset in the balance sheet | 4,010 | 4,362 | 4,204 | |||||||||
Total derivative liabilities — net | $ | (2,471 | ) | $ | (417 | ) | $ | (5,525 | ) |
Gain (Loss) Recognized in Income | Location of Gain (Loss) Recognized in Income | |||||||||
Three Months Ended June 30, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | (2,744 | ) | $ | 20,409 | Cost of sales — propane | ||||
Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||
Nine Months Ended June 30, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | 18,650 | $ | 4,579 | Cost of sales — propane |
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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Net (loss) income attributable to AmeriGas Partners, L.P. | $ | (46,752 | ) | $ | (33,069 | ) | $ | 180,290 | $ | 293,812 | ||||||
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 | (10,862 | ) | (10,101 | ) | (34,908 | ) | (33,039 | ) | ||||||||
Common Unitholders’ interest in net (loss) income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | (57,614 | ) | $ | (43,170 | ) | $ | 145,382 | $ | 260,773 | ||||||
Weighted average Common Units outstanding — basic (thousands) | 93,009 | 92,960 | 92,993 | 92,945 | ||||||||||||
Potentially dilutive Common Units (thousands) | — | — | 52 | 74 | ||||||||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,009 | 92,960 | 93,045 | 93,019 |
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June 30, 2017 | September 30, 2016 | June 30, 2016 | ||||||||||
Goodwill (not subject to amortization) | $ | 2,002,046 | $ | 1,978,981 | $ | 1,978,894 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 536,894 | $ | 520,180 | $ | 529,739 | ||||||
Accumulated amortization | (220,100 | ) | (191,805 | ) | (192,210 | ) | ||||||
Intangible assets, net (definite-lived) | 316,794 | 328,375 | 337,529 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 399,738 | $ | 411,319 | $ | 420,473 |
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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Early redemption premiums | $ | 3,588 | $ | 30,338 | $ | 51,253 | $ | 30,338 | ||||||||
Write-off of unamortized debt issuance costs | 846 | 6,748 | 8,476 | 6,748 | ||||||||||||
Loss on extinguishments of debt | $ | 4,434 | $ | 37,086 | $ | 59,729 | $ | 37,086 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
June 30, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 6,369 | $ | — | $ | 6,369 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (6,481 | ) | $ | — | $ | (6,481 | ) | ||||||
September 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 13,522 | $ | — | $ | 13,522 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (4,779 | ) | $ | — | $ | (4,779 | ) | ||||||
June 30, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Propane contracts | $ | — | $ | 14,063 | $ | — | $ | 14,063 | ||||||||
Liabilities: | ||||||||||||||||
Propane contracts | $ | — | $ | (9,729 | ) | $ | — | $ | (9,729 | ) |
June 30, 2017 | September 30, 2016 | June 30, 2016 | |||||||||
Carrying amount | $ | 2,611,981 | $ | 2,360,434 | $ | 2,718,085 | |||||
Estimated fair value | $ | 2,667,681 | $ | 2,483,565 | $ | 2,774,520 |
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June 30, 2017 | September 30, 2016 | June 30, 2016 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | 6,369 | $ | 13,522 | $ | 14,063 | ||||||
Total derivative assets — gross | 6,369 | 13,522 | 14,063 | |||||||||
Gross amounts offset in the balance sheet | (4,010 | ) | (4,362 | ) | (4,204 | ) | ||||||
Total derivative assets — net | $ | 2,359 | $ | 9,160 | $ | 9,859 | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Propane contracts | $ | (6,481 | ) | $ | (4,779 | ) | $ | (9,729 | ) | |||
Total derivative liabilities — gross | (6,481 | ) | (4,779 | ) | (9,729 | ) | ||||||
Gross amounts offset in the balance sheet | 4,010 | 4,362 | 4,204 | |||||||||
Total derivative liabilities — net | $ | (2,471 | ) | $ | (417 | ) | $ | (5,525 | ) |
Gain (Loss) Recognized in Income | Location of Gain (Loss) Recognized in Income | |||||||||
Three Months Ended June 30, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | (2,744 | ) | $ | 20,409 | Cost of sales — propane | ||||
Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||
Nine Months Ended June 30, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Propane contracts | $ | 18,650 | $ | 4,579 | Cost of sales — propane |
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