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Three Months Ended December 31, | ||||||||
2017 | 2016 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 104,421 | $ | 91,954 | ||||
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 | (14,202 | ) | (11,352 | ) | ||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | 90,219 | $ | 80,602 | ||||
Weighted average Common Units outstanding — basic (thousands) | 93,016 | 92,967 | ||||||
Potentially dilutive Common Units (thousands) | 64 | 52 | ||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,080 | 93,019 |
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December 31, 2017 | September 30, 2017 | December 31, 2016 | ||||||||||
Goodwill (not subject to amortization) | $ | 2,002,010 | $ | 2,002,010 | $ | 1,979,146 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 496,905 | $ | 497,385 | $ | 520,480 | ||||||
Accumulated amortization | (199,416 | ) | (190,289 | ) | (201,236 | ) | ||||||
Intangible assets, net (definite-lived) | 297,489 | 307,096 | 319,244 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 380,433 | $ | 390,040 | $ | 402,188 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
December 31, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 41,187 | $ | — | $ | 41,187 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (633 | ) | $ | — | $ | (633 | ) | ||||||
September 30, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 40,714 | $ | — | $ | 40,714 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (920 | ) | $ | — | $ | (920 | ) | ||||||
December 31, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 34,625 | $ | — | $ | 34,625 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (151 | ) | $ | — | $ | (151 | ) |
December 31, 2017 | September 30, 2017 | December 31, 2016 | |||||||||
Carrying amount | $ | 2,602,304 | $ | 2,603,610 | $ | 2,558,707 | |||||
Estimated fair value | $ | 2,660,194 | $ | 2,699,428 | $ | 2,619,790 |
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December 31, 2017 | September 30, 2017 | December 31, 2016 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Commodity contracts | $ | 41,187 | $ | 40,714 | $ | 34,625 | ||||||
Total derivative assets — gross | 41,187 | 40,714 | 34,625 | |||||||||
Gross amounts offset in the balance sheet | (633 | ) | (920 | ) | (151 | ) | ||||||
Cash collateral received | (8,176 | ) | (7,991 | ) | — | |||||||
Total derivative assets — net | $ | 32,378 | $ | 31,803 | $ | 34,474 | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Commodity contracts | $ | (633 | ) | $ | (920 | ) | $ | (151 | ) | |||
Total derivative liabilities — gross | (633 | ) | (920 | ) | (151 | ) | ||||||
Gross amounts offset in the balance sheet | 633 | 920 | 151 | |||||||||
Total derivative liabilities — net | $ | — | $ | — | $ | — |
Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||
Three Months Ended December 31, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Commodity contracts | $ | 19,614 | $ | 32,100 | Cost of sales — propane |
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Three Months Ended December 31, | ||||||||
2017 | 2016 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 104,421 | $ | 91,954 | ||||
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 | (14,202 | ) | (11,352 | ) | ||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | 90,219 | $ | 80,602 | ||||
Weighted average Common Units outstanding — basic (thousands) | 93,016 | 92,967 | ||||||
Potentially dilutive Common Units (thousands) | 64 | 52 | ||||||
Weighted average Common Units outstanding — diluted (thousands) | 93,080 | 93,019 |
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December 31, 2017 | September 30, 2017 | December 31, 2016 | ||||||||||
Goodwill (not subject to amortization) | $ | 2,002,010 | $ | 2,002,010 | $ | 1,979,146 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 496,905 | $ | 497,385 | $ | 520,480 | ||||||
Accumulated amortization | (199,416 | ) | (190,289 | ) | (201,236 | ) | ||||||
Intangible assets, net (definite-lived) | 297,489 | 307,096 | 319,244 | |||||||||
Trademarks and tradenames (indefinite-lived) | 82,944 | 82,944 | 82,944 | |||||||||
Total intangible assets, net | $ | 380,433 | $ | 390,040 | $ | 402,188 |
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Asset (Liability) | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
December 31, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 41,187 | $ | — | $ | 41,187 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (633 | ) | $ | — | $ | (633 | ) | ||||||
September 30, 2017: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 40,714 | $ | — | $ | 40,714 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (920 | ) | $ | — | $ | (920 | ) | ||||||
December 31, 2016: | ||||||||||||||||
Assets: | ||||||||||||||||
Commodity contracts | $ | — | $ | 34,625 | $ | — | $ | 34,625 | ||||||||
Liabilities: | ||||||||||||||||
Commodity contracts | $ | — | $ | (151 | ) | $ | — | $ | (151 | ) |
December 31, 2017 | September 30, 2017 | December 31, 2016 | |||||||||
Carrying amount | $ | 2,602,304 | $ | 2,603,610 | $ | 2,558,707 | |||||
Estimated fair value | $ | 2,660,194 | $ | 2,699,428 | $ | 2,619,790 |
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December 31, 2017 | September 30, 2017 | December 31, 2016 | ||||||||||
Derivative assets not designated as hedging instruments: | ||||||||||||
Commodity contracts | $ | 41,187 | $ | 40,714 | $ | 34,625 | ||||||
Total derivative assets — gross | 41,187 | 40,714 | 34,625 | |||||||||
Gross amounts offset in the balance sheet | (633 | ) | (920 | ) | (151 | ) | ||||||
Cash collateral received | (8,176 | ) | (7,991 | ) | — | |||||||
Total derivative assets — net | $ | 32,378 | $ | 31,803 | $ | 34,474 | ||||||
Derivative liabilities not designated as hedging instruments: | ||||||||||||
Commodity contracts | $ | (633 | ) | $ | (920 | ) | $ | (151 | ) | |||
Total derivative liabilities — gross | (633 | ) | (920 | ) | (151 | ) | ||||||
Gross amounts offset in the balance sheet | 633 | 920 | 151 | |||||||||
Total derivative liabilities — net | $ | — | $ | — | $ | — |
Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||
Three Months Ended December 31, | 2017 | 2016 | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||
Commodity contracts | $ | 19,614 | $ | 32,100 | Cost of sales — propane |
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