Acquisition of Inergy Propane (Tables)

9 Months Ended

Jun. 29, 2013

Acquisition of Inergy Propane [Abstract]

The table provides the final purchase price allocation:


Cash and cash equivalents	$	7,964
Accounts receivable		36,076
Inventories		30,457
Other current assets		2,067

Current assets acquired		76,564
Property, plant & equipment		617,854
Customer relationships		445,500
Non-compete agreements		23,059
Other intangible assets		1,983
Goodwill		809,778
Other assets		2,151

Total assets acquired	$	1,976,889

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		16,727

Total liabilities assumed		85,974

Total	$	1,890,915

Prior period adjustments

Prior period results of operations have been revised for any increase or decrease to certain components of net income as indicated in the table below.

	Increase (decrease)
	Fiscal 2012			Fiscal 2013
	Three months ended			Three months ended			Three months ended
	September 29, 2012			December 29, 2012			March 30, 2013
Depreciation expense	$	(205	)	$	(305	)	$	(340	)
Amortization expense		1,449			2,473			2,008
Total depreciation & amortization expense	$	1,244		$	2,168		$	1,668

Unaudited pro forma combined financial information

The following presents a comparison of the actual results for the three and nine months ended June 29, 2013 with the unaudited pro forma combined financial information for the three and nine months ended June 23, 2012 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 is not necessarily indicative of the results that would have occurred had the Inergy Propane acquisition occurred on the date indicated, nor is it necessarily indicative of future operating results.

	Three Months Ended						Nine Months Ended
	June 29, 2013			June 23, 2012			June 29, 2013		June 23, 2012
Revenues	$	290,805		$	307,679		$	1,459,934	$	1,582,831
Net (loss) income	$	(45,188	)	$	(37,312	)	$	141,917	$	66,615
(Loss) income per Common Unit
Basic	$	(0.77	)	$	(0.66	)	$	2.46	$	1.19
Diluted	$	(0.77	)	$	(0.66	)	$	2.45	$	1.18