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Goodwill and Other Intangible Assets
12 Months Ended
Sep. 26, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

7.

Goodwill and Other Intangible Assets

The Partnership’s fiscal 2020 and fiscal 2019 annual goodwill impairment review resulted in no adjustments to the carrying amount of goodwill.

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

 

 

 

Propane

 

 

Fuel oil and

refined fuels

 

 

Natural gas and

electricity

 

 

Total

 

Balance as of September 28, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

1,085,747

 

 

$

10,900

 

 

$

7,900

 

 

$

1,104,547

 

Accumulated adjustments

 

 

 

 

 

(6,462

)

 

 

 

 

 

(6,462

)

 

 

$

1,085,747

 

 

$

4,438

 

 

$

7,900

 

 

$

1,098,085

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2020 Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill acquired (1)

 

$

5,696

 

 

$

 

 

$

 

 

$

5,696

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of September 26, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

1,091,443

 

 

$

10,900

 

 

$

7,900

 

 

$

1,110,243

 

Accumulated adjustments

 

 

 

 

 

(6,462

)

 

 

 

 

 

(6,462

)

 

 

$

1,091,443

 

 

$

4,438

 

 

$

7,900

 

 

$

1,103,781

 

 

Other intangible assets consist of the following:

 

 

 

As of

 

 

 

September 26,

 

 

September 28,

 

 

 

2020

 

 

2019

 

Customer relationships (1)

 

$

517,676

 

 

$

507,159

 

Non-compete agreements (1)

 

 

37,690

 

 

 

35,440

 

Other

 

 

1,967

 

 

 

1,967

 

 

 

 

557,333

 

 

 

544,566

 

Less: accumulated amortization

 

 

 

 

 

 

 

 

Customer relationships

 

 

(439,507

)

 

 

(384,507

)

Non-compete agreements

 

 

(32,154

)

 

 

(30,181

)

Other

 

 

(1,532

)

 

 

(1,441

)

 

 

 

(473,193

)

 

 

(416,129

)

 

 

$

84,140

 

 

$

128,437

 

 

(1)

Reflects the impact from acquisitions (See Note 4).

 

Aggregate amortization expense related to other intangible assets for fiscal 2020, 2019 and 2018 was $57,065, $56,372 and $56,580, respectively.  Aggregate amortization expense for each of the five succeeding fiscal years related to other intangible assets held as of September 26, 2020 is estimated as follows: 2021 - $47,780; 2022 - $7,091; 2023 - $6,490; 2024 - $6,325; and 2025 - $4,240.