Segment Information

9 Months Ended

Jun. 29, 2013

Segment Information [Abstract]

Segment Information

16. Segment Information

The Partnership manages and evaluates its operations in five operating segments, three of which are reportable segments: Propane, Fuel Oil and Refined Fuels and Natural Gas and Electricity. The chief operating decision maker evaluates performance of the operating segments using a number of performance measures, including revenues and income before interest expense and provision for income taxes (operating profit). Costs excluded from these profit measures are captured in Corporate and include corporate overhead expenses not allocated to the operating segments. Unallocated corporate overhead expenses include all costs of back office support functions that are reported as general and administrative expenses within the consolidated statements of operations. In addition, certain costs associated with field operations support that are reported in operating expenses within the consolidated statements of operations, including purchasing, training and safety, are not allocated to the individual operating segments. Thus, operating profit for each operating segment includes only the costs that are directly attributable to the operations of the individual segment. The accounting policies of the operating segments are otherwise the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Partnership’s Annual Report on Form 10-K for the fiscal year ended September 29, 2012.

The propane segment is primarily engaged in the retail distribution of propane to residential, commercial, industrial and agricultural customers and, to a lesser extent, wholesale distribution to large industrial end users. In the residential and commercial markets, propane is used primarily for space heating, water heating, cooking and clothes drying. Industrial customers use propane generally as a motor fuel burned in internal combustion engines that power over-the-road vehicles, forklifts and stationary engines, to fire furnaces and as a cutting gas. In the agricultural markets, propane is primarily used for tobacco curing, crop drying, poultry brooding and weed control.

The fuel oil and refined fuels segment is primarily engaged in the retail distribution of fuel oil, diesel, kerosene and gasoline to residential and commercial customers for use primarily as a source of heat in homes and buildings.

The natural gas and electricity segment is engaged in the marketing of natural gas and electricity to residential and commercial customers in the deregulated energy markets of New York and Pennsylvania. Under this operating segment, the Partnership owns the relationship with the end consumer and has agreements with the local distribution companies to deliver the natural gas or electricity from the Partnership’s suppliers to the customer.

Activities in the “all other” category include the Partnership’s service business, which is primarily engaged in the sale, installation and servicing of a wide variety of home comfort equipment, particularly in the areas of heating and ventilation, and activities from the Partnership’s franchising subsidiary, Suburban Cylinder Express.

The following table presents certain relevant financial information by reportable segment and provides a reconciliation of total operating segment information to the corresponding consolidated amounts for the periods presented:

	Three Months Ended						Nine Months Ended
	June 29,			June 23,			June 29,			June 23,
	2013			2012			2013			2012
Revenues:
Propane	$	230,777		$	142,681		$	1,164,099		$	666,796
Fuel oil and refined fuels		31,026			17,533			185,967			92,262
Natural gas and electricity		16,132			12,119			64,253			51,878
All other		12,870			7,268			45,615			26,177
Total revenues	$	290,805		$	179,601		$	1,459,934		$	837,113
Operating (loss) income:
Propane	$	12,267		$	25,270		$	294,713		$	139,251
Fuel oil and refined fuels		(5,263	)		(1,789	)		1,186			4,142
Natural gas and electricity		1,802			1,416			10,079			5,759
All other		(7,625	)		(4,029	)		(19,019	)		(10,358	)
Corporate		(21,836	)		(23,612	)		(71,328	)		(55,123	)
Total operating (loss) income		(20,655	)		(2,744	)		215,631			83,671
Reconciliation to net (loss) income:
Loss on debt extinguishment		—			—			—			507
Interest expense, net		24,385			6,479			73,284			19,742
Provision for (benefit from) income taxes		148			100			430			(60	)
Net (loss) income	$	(45,188	)	$	(9,323	)	$	141,917		$	63,482
Depreciation and amortization:
Propane	$	24,802		$	5,142		$	74,189		$	14,997
Fuel oil and refined fuels		1,284			1,433			4,212			2,595
Natural gas and electricity		40			79			158			382
All other		227			19			518			72
Corporate		5,152			1,799			14,270			5,860
Total depreciation and amortization	$	31,505		$	8,472		$	93,347		$	23,906

	As of
	June 29,		September 29,
	2013		2012
Assets:
Propane	$	2,438,357	$	2,505,660
Fuel oil and refined fuels		79,028		77,059
Natural gas and electricity		15,847		14,777
All other		3,936		7,342
Corporate		442,374		279,012
Total assets	$	2,979,542	$	2,883,850