Acquisition of Inergy Propane (Tables)

12 Months Ended

Sep. 28, 2013

Acquisition of Inergy Propane [Abstract]

Purchase price allocation

The table provides the final purchase price allocation:

Assets acquired:
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 (estimated useful life of 9 years)		445,500
Non-compete agreements (estimated useful life of 6 years)		23,059
Other intangible assets (estimated useful life of 4 years)		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

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, as adjusted for the final purchase price allocation.  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 were used to fund the portion of the Inergy Propane Acquisition that was originally financed through the 364-Day Facility (which 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	$	12,824	$	116,287
Income per common unit
Basic	$	0.23	$	2.08
Diluted	$	0.23	$	2.07