16.	Segment Information

The Partnership manages and evaluates its operations in four 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 gross margins 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 condensed consolidated statements of operations. In addition, certain costs associated with field operations support that are reported in operating expenses within the condensed 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 30, 2017.

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.

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

	Three Months Ended						Six Months Ended
	March 31,			March 25,			March 31,			March 25,
	2018			2017			2018			2017
Revenues:
Propane	$	462,814		$	385,654		$	784,944		$	655,113
Fuel oil and refined fuels		41,699			34,630			67,014			56,726
Natural gas and electricity		20,392			19,239			33,539			32,306
All other		11,377			11,055			24,062			23,740
Total revenues	$	536,282		$	450,578		$	909,559		$	767,885
Operating income (loss):
Propane (1)	$	143,221		$	115,346		$	217,772		$	190,009
Fuel oil and refined fuels		7,199			6,828			11,023			9,676
Natural gas and electricity		5,454			5,535			8,939			8,655
All other		(4,981	)		(5,186	)		(10,214	)		(10,392	)
Corporate		(24,663	)		(19,666	)		(45,542	)		(41,606	)
Total operating income		126,230			102,857			181,978			156,342

Reconciliation to net income:
Loss on debt extinguishment		—			1,567			—			1,567
Interest expense, net		19,402			17,487			38,916			36,318
Provision for (benefit from) income taxes		41			(9	)		(893	)		156
Net income	$	106,787		$	83,812		$	143,955		$	118,301
Depreciation and amortization:
Propane	$	28,288		$	28,072		$	56,069		$	55,456
Fuel oil and refined fuels		716			667			1,295			1,298
Natural gas and electricity		—			—			—			—
All other		56			76			106			146
Corporate		3,143			3,855			5,864			7,031
Total depreciation and amortization	$	32,203		$	32,670		$	63,334		$	63,931

	As of
	March 31,		September 30,
	2018		2017
Assets:
Propane	$	2,093,843	$	2,066,997
Fuel oil and refined fuels		58,291		49,863
Natural gas and electricity		17,053		12,455
All other		3,228		2,147
Corporate		55,566		39,821
Total assets	$	2,227,981	$	2,171,283

(1)	Includes the loss on sale of business of $4,823 for the six months ended March 31, 2018 (see Note 3).