6.	Goodwill and Other Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is subject to an impairment review at a reporting unit level, on an annual basis as of the end of fiscal July of each year, or when an event occurs or circumstances change that would indicate potential impairment.

The Partnership has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. However, if an entity concludes otherwise, then it is required to perform the first step of the two-step impairment test.

Under the two-step impairment test, the Partnership assesses the carrying value of goodwill at a reporting unit level based on an estimate of the fair value of the respective reporting unit. Fair value of the reporting unit is estimated using discounted cash flow analyses taking into consideration estimated cash flows in a ten-year projection period and a terminal value calculation at the end of the projection period. If the fair value of the reporting unit exceeds its carrying value, the goodwill associated with the reporting unit is not considered to be impaired. If the carrying value of the reporting unit exceeds its fair value, an impairment loss is recognized to the extent that the carrying amount of the associated goodwill, if any, exceeds the implied fair value of the goodwill.

The carrying values of goodwill assigned to the Partnership’s operating segments are as follows:

				Fuel oil and			Natural gas
	Propane			refined fuels			and electricity		Total
Balance as of September 30, 2017
Goodwill	$	1,082,297		$	10,900		$	7,900	$	1,101,097
Accumulated adjustments		—			(6,462	)		—		(6,462	)
	$	1,082,297		$	4,438		$	7,900	$	1,094,635

Fiscal 2018 Activity
Goodwill disposed (2)	$	(1,165	)	$	—		$	—	$	(1,165	)

Balance as of June 30, 2018
Goodwill	$	1,081,132		$	10,900		$	7,900	$	1,099,932
Accumulated adjustments		—			(6,462	)		—		(6,462	)
	$	1,081,132		$	4,438		$	7,900	$	1,093,470

Other intangible assets consist of the following:

	As of
	June 30,			September 30,
	2018			2017
Customer relationships (1) (2)	$	499,433		$	492,656
Non-compete agreements (1)		33,540			31,040
Other		1,967			1,967
		534,940			525,663

Less: accumulated amortization
Customer relationships		(317,024	)		(279,287	)
Non-compete agreements		(27,207	)		(25,242	)
Other		(1,327	)		(1,258	)
		(345,558	)		(305,787	)
	$	189,382		$	219,876

(1)	Reflects the impact from the acquisitions (Note 3).

(2)	Reflects the impact from the disposition of certain assets and operations in a non-strategic market of the propane

segment (Note 3).