Acquisition of Inergy Propane (Tables)

12 Months Ended

Sep. 29, 2012

Acquisition of Inergy Propane [Abstract]

Preliminary purchase price allocation

The consolidated balance sheet at September 29, 2012 reflects a preliminary allocation of the purchase price to the assets acquired and liabilities assumed. The Partnership is in the process of obtaining information required to determine the fair values of certain assets and liabilities acquired, principally non-current tangible and intangible assets. The Partnership expects to finalize the determination of the Acquisition Date fair value amounts by July 31, 2013. The preliminary purchase price allocation as of August 1, 2012 is as follows:

Assets acquired:
Cash and cash equivalents	$	7,964
Accounts receivable		36,076
Inventories		30,457
Other current assets		2,832
Current assets acquired		77,329
Property, plant & equipment		651,156
Customer relationships (estimated useful life of 10 years)		402,950
Tradenames (estimated useful life of 4 years)		3,100
Non-compete agreements (estimated useful life of 6 years)		24,909
Goodwill		814,648
Other assets		2,151
Total assets acquired	$	1,976,243
Liabilities assumed:
Accounts payable	$	(16	)
Accrued employment and benefit costs		(2,149	)
Customer deposits and advances		(48,469	)
Other current liabilities		(18,613	)
Other noncurrent liabilities		(16,081	)
Total liabilities assumed		(85,328	)
Total	$	1,890,915

Unaudited pro forma combined financial information

The following presents unaudited pro forma combined financial information as if the Inergy Propane Acquisition had occurred on September 26, 2010, the first day of the Partnership’s 2011 fiscal year. The unaudited pro forma combined financial information was prepared under the assumption that the net proceeds from the issuance of the 6,300,000 Common Units on August 14, 2012 (described in Note. 14) were used to fund the portion of the Inergy Propane Acquisition that was originally financed through the 364-Day Facility (which, as described above, was repaid two weeks after the acquisition date) As a result, the common units were assumed to have been issued on September 26, 2010, and, in turn, the pro forma results for the fiscal year ended September 29, 2012 do not include any interest costs associated with the 364-Day Facility.

	Year Ended
	September 29, 2012		September 24, 2011
Revenues	$	1,842,698	$	2,242,876
Net income	$	20,288	$	123,751
Income per common unit
Basic	$	0.36	$	2.21
Diluted	$	0.36	$	2.20