10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 28, 2014

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             .

Commission file number 1-9444

CEDAR FAIR, L.P.

(Exact name of registrant as specified in its charter)

DELAWARE	34-1560655
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

One Cedar Point Drive, Sandusky, Ohio 44870-5259

(Address of principal executive offices) (Zip Code)

(419) 626-0830

(Registrant’s telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	o
Non-accelerated filer	o (Do not check if a smaller reporting company)	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

Title of Class	Units Outstanding As Of November 1, 2014
Units Representing Limited Partner Interests	55,862,834

CEDAR FAIR, L.P.

INDEX

FORM 10 - Q

Part I - Financial Information
Item 1.	Financial Statements	3-33
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	34-42
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	42
Item 4.	Controls and Procedures	43-44
Part II - Other Information
Item 1.	Legal Proceedings	44
Item 1A.	Risk Factors	44
Item 6.	Exhibits	45
Signatures		46
Index to Exhibits		47

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	9/28/2014			12/31/2013			9/29/2013
ASSETS
Current Assets:
Cash and cash equivalents	$	189,374		$	118,056		$	183,482
Receivables	41,262			21,333			42,534
Inventories	30,461			26,080			29,316
Current deferred tax asset	9,675			9,675			8,185
Other current assets	13,985			11,353			9,626
	284,757			186,497			273,143
Property and Equipment:
Land	279,350			283,313			298,589
Land improvements	372,145			350,869			351,731
Buildings	607,065			584,659			584,066
Rides and equipment	1,562,070			1,494,112			1,506,895
Construction in progress	39,058			44,550			18,990
	2,859,688			2,757,503			2,760,271
Less accumulated depreciation	(1,341,557		)	(1,251,740		)	(1,245,597		)
	1,518,131			1,505,763			1,514,674
Goodwill	232,513			238,089			241,936
Other Intangibles, net	38,766			39,471			40,025
Other Assets	42,909			44,807			31,269
	$	2,117,076		$	2,014,627		$	2,101,047
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	4,600		$	—		$	6,300
Accounts payable	21,866			13,222			21,877
Deferred revenue	48,141			44,521			37,627
Accrued interest	12,008			23,201			10,253
Accrued taxes	38,407			19,481			39,393
Accrued salaries, wages and benefits	42,139			29,200			39,621
Self-insurance reserves	23,931			23,653			24,088
Other accrued liabilities	8,392			5,521			7,618
	199,484			158,799			186,777
Deferred Tax Liability	157,389			158,113			157,603
Derivative Liability	25,802			26,662			31,646
Other Liabilities	16,595			11,290			9,073
Long-Term Debt:
Term debt	614,250			618,850			622,125
Notes	950,000			901,782			901,606
	1,564,250			1,520,632			1,523,731
Commitments and Contingencies (Note 10)
Partners’ Equity:
Special L.P. interests	5,290			5,290			5,290
General partner	3			2			2
Limited partners, 55,863, 55,716 and 55,714 units outstanding at September 28, 2014, December 31, 2013 and September 29, 2013, respectively	161,157			148,847			206,428
Accumulated other comprehensive loss	(12,894		)	(15,008		)	(19,503		)
	153,556			139,131			192,217
	$	2,117,076		$	2,014,627		$	2,101,047

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

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CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In thousands, except per unit amounts)

	Three months ended						Nine months ended						Twelve months ended
	9/28/2014			9/29/2013			9/28/2014			9/29/2013			9/28/2014			9/29/2013
Net revenues:
Admissions	$	340,101		$	339,655		$	566,126		$	562,214		$	650,919		$	641,140
Food, merchandise and games	184,038			180,408			322,025			316,940			361,190			353,951
Accommodations and other	71,179			72,013			110,647			116,341			125,766			129,609
	595,318			592,076			998,798			995,495			1,137,875			1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	46,812			45,843			82,887			81,933			92,726			93,055
Operating expenses	178,649			170,394			406,191			388,335			490,200			458,906
Selling, general and administrative	57,205			58,727			125,226			125,533			152,105			148,356
Depreciation and amortization	58,244			57,495			109,525			108,313			123,699			122,408
Gain on sale of other assets	—			(8,743		)	(921		)	(8,743		)	(921		)	(15,368		)
Loss on impairment / retirement of fixed assets, net	1,475			1,637			2,687			2,266			2,960			8,372
	342,385			325,353			725,595			697,637			860,769			815,729
Operating income	252,933			266,723			273,203			297,858			277,106			308,971
Interest expense	21,462			25,529			74,101			77,153			100,019			103,870
Net effect of swaps	(1,087		)	1,377			(1,031		)	8,315			(2,463		)	8,141
Loss (gain) on early debt extinguishment	(246		)	—			29,027			34,573			29,027			34,573
Unrealized/realized foreign currency (gain) loss	21,515			(8,615		)	22,597			15,229			36,309			20,157
Other income	(16		)	(17		)	(95		)	(126		)	(123		)	(163		)
Income before taxes	211,305			248,449			148,604			162,714			114,337			142,393
Provision for taxes	49,403			58,025			26,340			34,026			12,557			24,030
Net income	161,902			190,424			122,264			128,688			101,780			118,363
Net income allocated to general partner	2			2			1			1			1			1
Net income allocated to limited partners	$	161,900		$	190,422		$	122,263		$	128,687		$	101,779		$	118,362
Net income	$	161,902		$	190,424		$	122,264		$	128,688		$	101,780		$	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975			(699		)	2,279			1,194			3,841			2,814
Unrealized income (loss) on cash flow hedging derivatives	2,726			(2,761		)	(165		)	7,803			2,768			9,740
Other comprehensive income (loss), (net of tax)	5,701			(3,460		)	2,114			8,997			6,609			12,554
Total comprehensive income	$	167,603		$	186,964		$	124,378		$	137,685		$	108,389		$	130,917
Basic earnings per limited partner unit:
Weighted average limited partner units outstanding	55,439			55,485			55,448			55,472			55,458			55,460
Net income per limited partner unit	$	2.92		$	3.43		$	2.21		$	2.32		$	1.84		$	2.13
Diluted earnings per limited partner unit:
Weighted average limited partner units outstanding	55,855			55,863			55,855			55,803			55,864			55,804
Net income per limited partner unit	$	2.90		$	3.41		$	2.19		$	2.31		$	1.82		$	2.12

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

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CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PARTNERS’ EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 28, 2014

(In thousands)

	Nine months ended
	9/28/14
Limited Partnership Units Outstanding
Beginning balance	55,716
Limited partnership unit options exercised	19
Issuance of limited partnership units as compensation	128
	55,863
Limited Partners’ Equity
Beginning balance	$	148,847
Net income	122,263
Partnership distribution declared ($2.10 per limited partnership unit)	(117,468		)
Expense recognized for limited partnership unit options	668
Tax effect of units involved in option exercises and treasury unit transactions	(785		)
Issuance of limited partnership units as compensation	7,632
	161,157
General Partner’s Equity
Beginning balance	2
Net income	1
	3
Special L.P. Interests	5,290
Accumulated Other Comprehensive Income (Loss)
Cumulative foreign currency translation adjustment:
Beginning balance	5
Current period activity, net of tax ($1,310)	2,279
	2,284
Unrealized loss on cash flow hedging derivatives:
Beginning balance	(15,013		)
Current period activity, net of tax $6	(165		)
	(15,178		)
	(12,894		)
Total Partners’ Equity	$	153,556

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of this statement.

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CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Nine months ended						Twelve months ended
	9/28/2014			9/29/2013			9/28/2014			9/29/2013
CASH FLOWS FROM (FOR) OPERATING ACTIVITIES
Net income	$	122,264		128,688			$	101,780		118,363
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	109,525			108,313			123,699			122,408
Loss on early debt extinguishment	29,027			34,573			29,027			34,573
Loss on impairment / retirement of fixed assets, net	2,687			2,266			2,960			8,372
Gain on sale of other assets	(921		)	(8,743		)	(921		)	(15,368		)
Net effect of swaps	(1,031		)	8,315			(2,463		)	8,141
Non-cash expense	33,167			23,875			52,093			32,245
Net change in working capital	10,546			16,031			8,510			(6,769		)
Net change in other assets/liabilities	6,455			3,637			3,312			22,883
Net cash from operating activities	311,719			316,955			317,997			324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Sale of other assets	1,377			15,297			1,377			30,182
Capital expenditures	(137,013		)	(97,534		)	(160,072		)	(116,761		)
Net cash for investing activities	(135,636		)	(82,237		)	(158,695		)	(86,579		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	—			630,000			—			630,000
Note borrowings	450,000			500,000			450,000			500,000
Term debt payments, including amounts paid for early termination	—			(1,132,675		)	(9,575		)	(1,132,675		)
Note payments, including amounts paid for early termination	(426,148		)	—			(426,148		)	—
Distributions paid to partners	(117,468		)	(104,458		)	(156,467		)	(126,706		)
Exercise of limited partnership unit options	—			43			10			43
Payment of debt issuance costs	(9,795		)	(22,812		)	(10,232		)	(22,812		)
Excess tax benefit from unit-based compensation expense	(785		)	(148		)	218			1,515
Net cash for financing activities	(104,196		)	(130,050		)	(152,194		)	(150,635		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(569		)	(16		)	(1,216		)	(254		)
CASH AND CASH EQUIVALENTS
Net increase for the period	71,318			104,652			5,892			87,380
Balance, beginning of period	118,056			78,830			183,482			96,102
Balance, end of period	$	189,374		$	183,482		$	189,374		$	183,482
SUPPLEMENTAL INFORMATION
Cash payments for interest expense	$	80,203		$	78,852		$	92,185		$	94,717
Interest capitalized	1,167			1,175			2,008			1,406
Cash payments for income taxes, net of refunds	10,283			11,746			13,359			4,768

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

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CEDAR FAIR, L.P.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIODS ENDED SEPTEMBER 28, 2014 AND SEPTEMBER 29, 2013

The accompanying unaudited condensed consolidated financial statements have been prepared from the financial records of Cedar Fair, L.P. (the Partnership) without audit and reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to fairly present the results of the interim periods covered in this report.

Due to the highly seasonal nature of the Partnership’s amusement and water park operations, the results for any interim period are not indicative of the results to be expected for the full fiscal year. Accordingly, the Partnership has elected to present financial information regarding operations and cash flows for the preceding fiscal twelve-month periods ended September 28, 2014 and September 29, 2013 to accompany the quarterly results. Since amounts for the fiscal twelve months ended September 28, 2014 include actual 2013 season operating results, they may not be indicative of 2014 full calendar year operations.

(1) Significant Accounting and Reporting Policies:

The Partnership’s unaudited condensed consolidated financial statements for the periods ended September 28, 2014 and September 29, 2013 included in this Form 10-Q report have been prepared in accordance with the accounting policies described in the Notes to Consolidated Financial Statements for the year ended December 31, 2013, which were included in the Form 10-K filed on February 26, 2014. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the Commission). These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K referred to above.

New Accounting Pronouncements

In February 2013, the FASB issued ASU 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date,” which requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following:

• The amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors.

• Any additional amount the reporting entity expects to pay on behalf of its co-obligors.

The guidance also requires an entity to disclose the nature and amount of the obligation as other information about those obligations. The amendments in the guidance are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, however early adoption is permitted. The Partnership adopted this guidance in the first quarter of 2014 and the December 31, 2013 and September 29, 2013 Unaudited Condensed Consolidating Balance Sheets in Note 12 reflect the effect of the adoption of this guidance.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The amendments in ASU 2014-09 provide for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning on or after December 15, 2016 and will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. It permits the use of either a retrospective or cumulative effect transition method and early adoption is not permitted. The Partnership has not yet selected a transition method and is in the process of evaluating the effect this standard will have on the consolidated financial statements and related disclosures.

(2) Interim Reporting:

The Partnership owns and operates eleven amusement parks, three separately gated outdoor water parks, one indoor water park and five hotels. Virtually all of the Partnership’s revenues from its seasonal amusement parks, as well as its outdoor water parks and other seasonal resort facilities, are realized during a 130- to 140-day operating period beginning in early May, with the major portion concentrated in the third quarter during the peak vacation months of July and August. Knott's Berry Farm is open daily on a year-round basis. Castaway Bay is generally open daily from Memorial Day to Labor Day, plus a limited daily schedule for the balance of the year.

To assure that these highly seasonal operations will not result in misleading comparisons of current and subsequent interim periods, the Partnership has adopted the following accounting and reporting procedures for its seasonal parks: (a) revenues on multi-day admission tickets are recognized over the estimated number of visits expected for each type of ticket and are adjusted periodically

7

during the season, (b) depreciation, advertising and certain seasonal operating costs are expensed during each park’s operating season, including certain costs incurred prior to the season which are amortized over the season, and (c) all other costs are expensed as incurred or ratably over the entire year.

(3) Long-Lived Assets:

Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that would indicate that the carrying value of the assets may not be recoverable. In order to determine if an asset has been impaired, assets are grouped and tested at the lowest level for which identifiable, independent cash flows are available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in equity price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on our consolidated financial statements.

The long-lived operating asset impairment test involves a two-step process. The first step is a comparison of each asset group's carrying value to its estimated undiscounted future cash flows expected to result from the use of the assets, including disposition. Projected future cash flows reflect management's best estimates of economic and market conditions over the projected period, including growth rates in revenues and costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates and future estimates of capital expenditures. If the carrying value of the asset group is higher than its undiscounted future cash flows, there is an indication that impairment exists and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of the asset group to its carrying value in a manner consistent with the highest and best use of those assets.

The Partnership estimates fair value of operating assets using an income, market, and/or cost approach. The income approach uses an asset group's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital reflective of current market conditions. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The cost approach is based on the amount currently required to replace the service capacity of an asset adjusted for obsolescence. If the implied fair value of the assets is less than their carrying value, an impairment charge is recorded for the difference.

Non-operating assets are evaluated for impairment based on changes in market conditions. When changes in market conditions are observed, impairment is estimated using a market-based approach. If the estimated fair value of the non-operating assets is less than their carrying value, an impairment charge is recorded for the difference.

(4) Goodwill and Other Intangible Assets:

In accordance with the applicable accounting rules, goodwill is not amortized, but, along with indefinite-lived trade-names, is evaluated for impairment on an annual basis or more frequently if indicators of impairment exist. As of September 28, 2014, there were no indicators of impairment. The Partnership's annual testing date is December 31.

The Partnership tested goodwill and other indefinite-lived intangibles for impairment on December 31, 2013 and no impairment was indicated.

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 28, 2014 and September 29, 2013 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2012	$	326,089		$	(79,868	)	$	246,221
Foreign currency translation	(4,285		)	—			(4,285		)
Balance at September 29, 2013	$	321,804		$	(79,868	)	$	241,936
Balance at December 31, 2013	$	317,957		$	(79,868	)	$	238,089
Foreign currency translation	(5,576		)	—			(5,576		)
Balance at September 28, 2014	$	312,381		$	(79,868	)	$	232,513

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At September 28, 2014, December 31, 2013, and September 29, 2013 the Partnership’s other intangible assets consisted of the following:

September 28, 2014	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
(In thousands)
Other intangible assets:
Trade names	$	38,280	$	—	$	38,280
License / franchise agreements	899		413		486
Total other intangible assets	$	39,179	$	413	$	38,766
December 31, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,070	$	—	$	39,070
License / franchise agreements	800		399		401
Total other intangible assets	$	39,870	$	399	$	39,471
September 29, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,615	$	—	$	39,615
License / franchise agreements	799		389		410
Total other intangible assets	$	40,414	$	389	$	40,025

Estimated amortization expense is expected to total less than $75,000 in each year from 2014 through 2018.

(5) Long-Term Debt:

In June of 2014, the Partnership issued $450 million of 5.375% senior unsecured notes ("June 2014 notes"), maturing in 2024, in a private placement. The net proceeds from the offering of the June 2014 notes were used to redeem in full all of the Partnership’s $405 million of 9.125% senior unsecured notes that were scheduled to mature in 2018 (and which included $5.6 million of Original Issue Discount ("OID") to yield 9.375%), to satisfy and discharge the indenture governing the notes that were redeemed and for general corporate purposes.

The Partnership's June 2014 notes pay interest semi-annually in June and December, with the principal due in full on June 1, 2024. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to June 1, 2017, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.375% together with accrued and unpaid interest.

In March 2013, the Partnership issued $500 million of 5.25% senior unsecured notes ("March 2013 notes"), maturing in 2021, in a private placement. Concurrently with this offering, the Partnership entered into a new $885 million credit agreement (the "2013 Credit Agreement"), which included a $630 million senior secured term loan facility and a $255 million senior secured revolving credit facility. The terms of the senior secured term loan facility include a maturity date of March 6, 2020 and bear interest at a rate of LIBOR ("London InterBank Offering Rate") plus 250 bps with a LIBOR floor of 75 bps. The term loan amortizes at $6.3 million annually and allows interest to be paid on a 30-, 60-, or 90-day basis. The Partnership is currently paying interest on a 30-day basis. The net proceeds from the notes and borrowings under the 2013 Credit Agreement were used to repay in full all amounts outstanding under the previous credit facilities. The facilities provided under the 2013 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

Terms of the 2013 Credit Agreement include a revolving credit facility of a combined $255 million. Under the 2013 Credit Agreement, the Canadian portion of the revolving credit facility has a sub-limit of $15 million. U.S. denominated and Canadian denominated loans made under the revolving credit facility bear interest at a rate of LIBOR plus 225 bps (with no LIBOR floor).

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The revolving credit facility is scheduled to mature in March 2018 and also provides for the issuance of documentary and standby letters of credit. The 2013 Credit Agreement requires the Partnership to pay a commitment fee of 38 bps per annum on the unused portion of the credit facilities.

The 2013 Credit Agreement requires the Partnership to maintain specified financial ratios, which if breached for any reason, including a decline in operating results, could result in an event of default under the agreement. The most restrictive of these ratios is the Consolidated Leverage Ratio which is measured quarterly on a trailing-twelve month basis. The Consolidated Leverage Ratio decreased to 6.00x consolidated total debt (excluding the revolving debt)-to-Consolidated EBITDA at the end of the second quarter in 2014, and the ratio will decrease by 0.25x each second quarter until it reaches 5.25x. As of September 28, 2014, the Partnership’s Consolidated Leverage Ratio was 3.78x. The Partnership was in compliance with all other covenants under the 2013 Credit Agreement as of September 28, 2014.

The Partnership is allowed to make Restricted Payments, as defined in the 2013 Credit Agreement, of up to $60 million annually, so long as no default or event of default has occurred and is continuing. These Restricted Payments are not subject to any specific covenants. Additional Restricted Payments are allowed to be made based on an Excess-Cash-Flow formula, should the Partnership’s pro-forma Consolidated Leverage Ratio be less than or equal to 5.00x. Per the terms of the indentures governing the Partnership's June 2014 and March 2013 notes, we can make Restricted Payments of $60 million annually so long as no default or event of default has occurred and is continuing, and our ability to make additional Restricted Payments in 2014 and beyond is permitted should the Partnership's pro forma trailing-twelve-month Total-Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

The Partnership's March 2013 notes pay interest semi-annually in March and September, with the principal due in full on March 15, 2021. The notes may be redeemed, in whole or in part, at any time prior to March 15, 2016 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to March 15, 2016, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.25% together with accrued and unpaid interest.

As market conditions warrant, the Partnership may from time to time repurchase debt securities issued by the Partnership, in privately negotiated or open market transactions, by tender offer, exchange offer or otherwise.

(6) Derivative Financial Instruments:

Derivative financial instruments are used within the Partnership’s overall risk management program to manage certain interest rate and foreign currency risks. By utilizing a derivative instrument to hedge our exposure to LIBOR rate changes, the Partnership is exposed to credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, hedging instruments are placed with a counterparty that the Partnership believes poses minimal credit risk.

The Partnership does not use derivative financial instruments for trading purposes.

We have entered into several interest rate swaps that fix all of our variable rate term-debt payments. As of September 28, 2014, we have $800 million of variable-rate debt to fixed rates swaps that mature in December 2015 and fix LIBOR at a weighted average rate of 2.38%. These swaps have been de-designated as cash flow hedges. During the third quarter and fourth quarter of 2013, we entered into four forward-starting interest rate swap agreements that will effectively convert $500 million of variable-rate debt to fixed rates beginning in December of 2015. These swaps, which were designated as cash flow hedges, mature on December 31, 2018 and fix LIBOR at a weighted average rate of 2.94%.

10

Fair Value of Derivative Instruments and the Classification in Condensed Consolidated Balance Sheet:

(In thousands)	Condensed Consolidated Balance Sheet Location	Fair Value as of			Fair Value as of			Fair Value as of
		September 28, 2014			December 31, 2013			September 29, 2013
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(10,044	)	$	(3,916	)	$	(5,483	)
Total derivatives designated as hedging instruments		$	(10,044	)	$	(3,916	)	$	(5,483	)
Derivatives not designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(15,758	)	$	(22,746	)	$	(26,163	)
Total derivatives not designated as hedging instruments		$	(15,758	)	$	(22,746	)	$	(26,163	)
Net derivative liability		$	(25,802	)	$	(26,662	)	$	(31,646	)

Derivatives Designated as Hedging Instruments

Changes in fair value of highly effective hedges are recorded as a component of accumulated other comprehensive loss in the unaudited condensed consolidated balance sheets. Any ineffectiveness is recognized immediately in income. Amounts recorded as a component of accumulated other comprehensive loss are reclassified into earnings in the same period the forecasted transactions affect earnings. As of September 28, 2014 we have no amounts that are forecasted to be reclassified into earnings in the next twelve months.

Derivatives Not Designated as Hedging Instruments

Certain interest rate swap contracts were deemed ineffective in prior years and no longer qualified for hedge accounting. As a result of discontinued hedge accounting, the instruments are prospectively adjusted to fair value each reporting period through "Net effect of swaps" on the unaudited condensed consolidated statements of operations and comprehensive income. The amounts that were previously recorded as a component of accumulated other comprehensive loss prior to the de-designation are reclassified to earnings and a corresponding realized gain or loss will be recognized when the forecasted cash flow occurs. As of September 28, 2014, approximately $7.8 million of losses remain in accumulated comprehensive loss related to the effective cash flow hedge contracts prior to de-designation. We estimate that losses of $7.8 million will be reclassified to earnings within the next 12 months.

The following table presents our derivative portfolio along with their notional amounts and their fixed interest rates as of September 28, 2014.

	Interest Rate Swaps
($'s in thousands)	Derivatives designated as hedging instruments				Derivatives not designated as hedging instruments
	Notional Amounts		LIBOR Rate		Notional Amounts		LIBOR Rate
	$	200,000	3.00	%	$	200,000	2.27	%
	100,000		3.00	%	150,000		2.43	%
	100,000		3.00	%	75,000		2.30	%
	100,000		2.70	%	70,000		2.54	%
					50,000		2.54	%
					50,000		2.54	%
					50,000		2.43	%
					50,000		2.29	%
					50,000		2.29	%
					30,000		2.54	%
					25,000		2.30	%
Total $'s / Average Rate	$	500,000	2.94	%	$	800,000	2.38	%

11

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the three-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)

Amount of Gain (Loss) Recognized in  Accumulated OCI on Derivatives (Effective Portion)

Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)

Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)

Derivatives designated as Cash Flow Hedging Relationships

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

9/28/14

9/29/13

9/28/14

9/29/13

9/28/14

9/29/13

Interest rate swaps

$

1,235

$

(5,483

)

Interest Expense

$

—

$

—

Net effect of swaps

$

—

$

—

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Three months ended		Three months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	3,073	$	609
		$	3,073	$	609

During the quarter ended September 28, 2014, in addition to gains of $3.1 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $2.0 million of expense representing the regular amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations for the quarter. The effect of these amounts resulted in a benefit to earnings of $1.1 million recorded in “Net effect of swaps.”

For the three-month period ended September 29, 2013, in addition to the $0.6 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $2.0 million of expense representing the amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations. The effect of these amounts resulted in a charge to earnings of $1.4 million recorded in “Net effect of swaps.”

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the nine-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)	Amount of Gain (Loss) Recognized in  Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Nine months ended			Nine months ended				Nine months ended		Nine months ended				Nine months ended		Nine months ended
	9/28/14			9/29/13				9/28/14		9/29/13				9/28/14		9/29/13
Interest rate swaps	$	(6,129	)	$	(3,217	)	Interest Expense	$	—	$	(2,797	)	Net effect of swaps	$	—	$	3,703

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Nine months ended		Nine months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	6,991	$	130
		$	6,991	$	130

12

During the nine-month period ended ended September 28, 2014, in addition to gains of $7.0 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $6.0 million of expense representing the regular amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations for the quarter. The effect of these amounts resulted in a benefit to earnings of $1.0 million recorded in “Net effect of swaps.”

For the nine-month period ended September 29, 2013, in addition to the $3.7 million gain recognized in income on the ineffective portion of derivatives and $0.1 million gain on the derivatives not designated as cash flow hedges (as noted in the tables above), $7.8 million of expense related to the write off of OCI balances on our May 2011 swaps and $4.3 million of expense representing the amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations. The effect of these amounts resulted in a charge to earnings of $8.3 million recorded in “Net effect of swaps.”

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the twelve-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Twelve months ended			Twelve months ended				Twelve months ended		Twelve months ended				Twelve months ended		Twelve months ended
	9/28/14			9/29/13				9/28/14		9/29/13				9/28/14		9/29/13
Interest rate swaps	$	(4,562	)	$	(769	)	Interest Expense	$	—	$	(5,820	)	Net effect of swaps	$	—	$	3,703

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Twelve months ended		Twelve months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	10,408	$	130
		$	10,408	$	130

During the twelve-month period ending September 28, 2014, in addition to the $10.4 million gain recognized in income on derivatives not designated as cash flow hedges (as noted in the tables above), $7.9 million of expense representing the amortization of amounts in AOCI for the swaps was recorded during the trailing twelve months ended September 28, 2014 in the condensed consolidated statements of operations. The effect of these amounts resulted in a benefit to earnings of $2.5 million recorded in “Net effect of swaps.”

For the twelve-month period ending September 29, 2013, in addition to the $3.7 million gain recognized in income on the ineffective portion of designated derivatives and $0.1 million of gain recognized in income on the derivatives not designated as cash flow hedges as noted in the tables above, $7.8 million of expense related to the write off of OCI balances on our May 2011 swaps and $4.1 million of expense representing the amortization of amounts in AOCI for the swaps was recorded during the trailing twelve months ended September 29, 2013 in the condensed consolidated statements of operations. The net effect of these amounts resulted in a charge to earnings for the trailing twelve month period of $8.1 million recorded in “Net effect of swaps.”

(7) Fair Value Measurements:

The FASB Accounting Standards Codification (ASC) relating to fair value measurements emphasizes that fair value is a market-based measurement that should be determined based on assumptions (inputs) that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable, and valuation techniques used to measure fair value should maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Accordingly, the FASB’s ASC establishes a hierarchal disclosure framework that ranks the quality and reliability of information used to determine fair values. The hierarchy is associated with the level of pricing observability utilized in measuring fair value and defines three levels of inputs to the fair value measurement process—quoted prices are the most reliable valuation inputs, whereas model values that include inputs based on unobservable data are the least reliable. Each fair value measurement must be assigned to a level corresponding to the lowest level input that is significant to the fair value measurement in its entirety.

13

The three broad levels of inputs defined by the fair value hierarchy are as follows:

• Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The table below presents the balances of assets and liabilities measured at fair value as of September 28, 2014, December 31, 2013, and September 29, 2013 on a recurring basis:

	Total			Level 1		Level 2			Level 3
September 28, 2014
(In thousands)
Interest rate swap agreements (1)	$	(10,044	)	$	—	$	(10,044	)	$	—
Interest rate swap agreements (2)	(15,758		)	—		(15,758		)	—
Net derivative liability	$	(25,802	)	$	—	$	(25,802	)	$	—
December 31, 2013
Interest rate swap agreements (1)	$	(3,916	)	$	—	$	(3,916	)	$	—
Interest rate swap agreements (2)	$	(22,746	)	$	—	$	(22,746	)	$	—
Net derivative liability	$	(26,662	)	$	—	$	(26,662	)	$	—
September 29, 2013
Interest rate swap agreements (1)	$	(5,483	)	$	—	$	(5,483	)	$	—
Interest rate swap agreements (2)	$	(26,163	)	$	—	$	(26,163	)	$	—
Net derivative liability	$	(31,646	)	$	—	$	(31,646	)	$	—

(1) Designated as cash flow hedges and are included in “Derivative Liability” on the Unaudited Condensed Consolidated Balance Sheet

(2) Not designated as cash flow hedges and are included in "Derivative Liability" on the Unaudited Condensed Consolidated Balance Sheet

Fair values of the interest rate swap agreements are determined using significant inputs, including the LIBOR forward curves, which are considered Level 2 observable market inputs. In addition, the Partnership considered the effect of its credit and non-performance risk on the fair values provided, and recognized an adjustment decreasing the net derivative liability by approximately $0.6 million as of September 28, 2014.

The carrying value of cash and cash equivalents, revolver, accounts receivable, accounts payable, and accrued liabilities approximates fair value because of the short maturity of these instruments.

There were no assets measured at fair value on a non-recurring basis at September 28, 2014, December 31, 2013, or September 29, 2013, except for as described below.

The fair value of term debt at September 28, 2014 was approximately $614.2 million based on borrowing rates currently available to the Partnership on long-term debt with similar terms and average maturities. The fair value of the Partnership's notes at September 28, 2014 was approximately $919.5 million based on public trading levels as of that date. The fair value of the term debt and June 2014 notes were based on Level 2 inputs and the March 2013 notes were based on Level 1 inputs.

14

(8) Earnings per Unit:

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended				Twelve months ended
	9/28/2014		9/29/2013		9/28/2014		9/29/2013		9/28/2014		9/29/2013
	(In thousands except per unit amounts)
Basic weighted average units outstanding	55,439		55,485		55,448		55,472		55,458		55,460
Effect of dilutive units:
Unit options and restricted unit awards	336		189		317		146		290		120
Phantom units	80		189		90		185		116		224
Diluted weighted average units outstanding	55,855		55,863		55,855		55,803		55,864		55,804
Net income per unit - basic	$	2.92	$	3.43	$	2.21	$	2.32	$	1.84	$	2.13
Net income per unit - diluted	$	2.90	$	3.41	$	2.19	$	2.31	$	1.82	$	2.12

The effect of out-of-the-money and/or antidilutive unit options on the three, nine and twelve months ended September 28, 2014 and September 29, 2013, respectively, had they not been out of the money or antidilutive, would have been immaterial in all periods presented.

(9) Income and Partnership Taxes:

Under the applicable accounting rules, income taxes are recognized for the amount of taxes payable by the Partnership’s corporate subsidiaries for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. The income tax provision (benefit) for interim periods is determined by applying an estimated annual effective tax rate to the quarterly income (loss) of the Partnership’s corporate subsidiaries. In addition to income taxes on its corporate subsidiaries, the Partnership pays a publicly traded partnership tax (PTP tax) on partnership-level gross income (net revenues less cost of food, merchandise and games). As such, the Partnership’s total provision (benefit) for taxes includes amounts for both the PTP tax and for income taxes on its corporate subsidiaries.

As of the third quarter of 2014 the Partnership has recorded $1.1 million of unrecognized tax benefits including interest and/or penalties related to state and local tax filing positions. The Partnership recognizes interest and/or penalties related to unrecognized tax benefits in the income tax provision. The Partnership does not anticipate that the balance of the unrecognized tax benefit will change significantly over the next 12 months.

(10) Contingencies:

The Partnership is a party to a number of lawsuits arising in the normal course of business. In the opinion of management, none of these matters is expected to have a material effect in the aggregate on the Partnership's financial statements.

15

(11) Changes in Accumulated Other Comprehensive Income (Loss) by Component:

The following tables reflect the changes in Accumulated Other Comprehensive Income (Loss) related to limited partners' equity for the three-, nine-, and twelve-month periods ended September 28, 2014 and September 29, 2013:

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at June 29, 2014		$	(17,904	)	$	(691	)	$	(18,595	)
Other comprehensive income before reclassifications, net of tax ($187) and ($1,713), respectively		1,048			2,975			4,023
Amounts reclassified from accumulated other comprehensive income, net of tax ($307) (2)		1,678			—			1,678
Net other comprehensive income		2,726			2,975			5,701
September 28, 2014		$	(15,178	)	$	2,284		$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at June 30, 2013		$	(15,185	)	$	(858	)	$	(16,043	)
Other comprehensive income before reclassifications, net of tax ($1,044) and $401, respectively		(4,440		)	(699		)	(5,139		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($307) (2)		1,679			—			1,679
Net other comprehensive income		(2,761		)	(699		)	(3,460		)
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

16

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
							Total
Balance at December 31, 2013		$	(15,013	)	$	5	$	(15,008	)
Other comprehensive income before reclassifications, net of tax $928 and ($1,310), respectively		(5,200		)	2,279		(2,921		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($922) (2)		5,035			—		5,035
Net other comprehensive income		(165		)	2,279		2,114
September 28, 2014		$	(15,178	)	$	2,284	$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at December 31, 2012		$	(25,749	)	$	(2,751	)	$	(28,500	)
Other comprehensive income before reclassifications, net of tax $718 and ($689), respectively		(2,500		)	1,194			(1,306		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,843) (2)		10,303			—			10,303
Net other comprehensive income		7,803			1,194			8,997
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

17

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)
Other comprehensive income before reclassifications, net of tax $615 and ($2,208), respectively		(3,946		)	3,841			(105		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,228) (2)		6,714			—			6,714
Net other comprehensive income		2,768			3,841			6,609
September 28, 2014		$	(15,178	)	$	2,284		$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 30, 2012		$	(27,686	)	$	(4,371	)	$	(32,057	)
Other comprehensive income before reclassifications, net of tax $355 and ($1,619), respectively		(416		)	2,814			2,398
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,816) (2)		10,156			—			10,156
Net other comprehensive income		9,740			2,814			12,554
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income (1)
(In thousands)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income																		Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges	3 months ended 9/28/14			3 months ended 9/29/13			9 months ended 9/28/14			9 months ended 9/29/13			12 months ended 9/28/14			12 months ended 9/29/13
Interest rate contracts	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Net effect of swaps
	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Total before tax
	(307		)	(307		)	(922		)	(1,843		)	(1,228		)	(1,816		)	Benefit for taxes
	$	1,678		$	1,679		$	5,035		$	10,303		$	6,714		$	10,156		Net of tax

(1) Amounts in parentheses indicate debits.

18

(12) Consolidating Financial Information of Guarantors and Issuers:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), and Magnum Management Corporation ("Magnum") are the co-issuers of the Partnership's June 2014 and March 2013 notes (see Note 5). The notes have been fully and unconditionally guaranteed, on a joint and several basis, by each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum) that guarantees the Partnership's senior secured credit facilities. There are no non-guarantor subsidiaries.

The following consolidating schedules present condensed financial information for Cedar Fair, L.P., Cedar Canada, and Magnum, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum), the guarantors (on a combined basis), as of September 28, 2014, December 31, 2013, and September 29, 2013 and for the three, nine, and twelve month periods ended September 28, 2014 and September 29, 2013. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the Partnership has included the accompanying condensed consolidating financial statements.

The Partnership adopted ASU 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date" as of January 1, 2014. The debt disclosed on the unaudited balance sheets as of September 28, 2014, December 31, 2013, and September 29, 2013 reflect the adoption of this guidance. For the periods ended December 31, 2013 and September 29, 2013, the debt disclosed and related items have been adjusted to reflect only the amounts of debt Cedar Fair, L.P, Cedar Canada, and Magnum have recorded on their books.

In addition to making the retrospective adjustments to the balance sheets related to the adoption of ASU 2013-04, the Unaudited Condensed Consolidating Statements of Cash Flows for the nine and twelve month periods ended September 29, 2013 have been revised to correct the presentation of certain intercompany transactions previously recorded as cash flows from operating activities and the presentation of an intercompany term debt receipt previously recorded as cash flows from financing activities. A summary of the changes are below:

Condensed Consolidating Statements of Cash Flows
For the Nine Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	337,821		$	60,434		$	21,615		$	66,757		$	(169,672	)	$	316,955
Investment in joint ventures and affiliates	(63,105		)	(52,172		)	(29,579		)	(24,816		)	169,672			—
Intercompany receivables (payments) receipts	—			(41,768		)	—			55,439			(13,671		)	—
Intercompany payables (payments) receipts	(134,694		)	73,536			5,655			41,832			13,671			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	140,022		$	40,030		$	10,864		$	139,212		$	(13,173	)	$	316,955
As reported - Net cash from (for) investing activities	$	(106,673	)	$	(52,172	)	$	(35,096	)	$	(57,968	)	$	169,672		$	(82,237	)
Investment in joint ventures and affiliates	63,105			52,172			29,579			24,816			(169,672		)	—
Intercompany receivables (payments) receipts	—			41,768			—			(55,439		)	13,671			—
As corrected - Net cash from (for) investing activities	$	(43,568	)	$	41,768		$	(5,517	)	$	(88,591	)	$	13,671		$	(82,237	)
As reported - Net cash from (for) financing activities	$	(123,148	)	$	(6,413	)	$	(489	)	$	—		$	—		$	(130,050	)
Dividends paid	—			—			(13,173		)				13,173			—
Intercompany payables (payments) receipts	134,694			(73,536		)	(5,655		)	(41,832		)	(13,671		)	—
As corrected - Net cash from (for) financing activities	$	11,546		$	(79,949	)	$	(19,317	)	$	(41,832	)	$	(498	)	$	(130,050	)

19

Condensed Consolidating Statements of Cash Flows
For the Twelve Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	258,843		$	42,367		$	32,927		$	52,457		$	(61,746	)	$	324,848
Investment in joint ventures and affiliates	24,507			(37,602		)	(30,743		)	(17,908		)	61,746			—
Intercompany receivables (payments) receipts	—			(46,143		)	—			60,099			(13,956		)	—
Intercompany payables (payments) receipts	(71,020		)	6,760			4,098			46,206			13,956			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
As reported - Net cash from (for) investing activities	$	(23,431	)	$	(37,603	)	$	(36,275	)	$	(51,016	)	$	61,746		$	(86,579	)
Investment in joint ventures and affiliates	(24,507		)	37,602			30,743			17,908			(61,746		)	—
Intercompany receivables (payments) receipts	—			46,143			—			(60,099		)	13,956			—
As corrected - Net cash from (for) investing activities	$	(47,938	)	$	46,142		$	(5,532	)	$	(93,207	)	$	13,956		$	(86,579	)
As reported - Net cash from (for) financing activities	$	(145,412	)	$	(4,734	)	$	(489	)	$	—		$	—		$	(150,635	)
Dividends paid	—			—			(13,173		)	—			13,173			—
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
As corrected - Net cash from (for) financing activities	$	(74,392	)	$	(11,494	)	$	(17,760	)	$	(46,206	)	$	(783	)	$	(150,635	)

These revisions had no effect on the Partnership's Unaudited Condensed Consolidated Balance Sheets, Statements of Operations and Comprehensive Income, Statements of Partner's Equity, or Statements of Cash Flows.

20

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	124,000	$	2,194	$	52,792	$	10,388	$	—		$	189,374
Receivables	11		131,297		88,605		651,998		(830,649		)	41,262
Inventories	—		3,147		1,833		25,481		—			30,461
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	1,084		5,863		14,219		5,847		(13,028		)	13,985
	125,095		147,931		158,249		697,159		(843,677		)	284,757
Property and Equipment (net)	459,332		8,105		230,723		819,971		—			1,518,131
Investment in Park	560,750		837,800		163,809		60,788		(1,623,147		)	—
Goodwill	9,061		—		112,234		111,218		—			232,513
Other Intangibles, net	—		—		15,911		22,855		—			38,766
Deferred Tax Asset	—		29,935		—		—		(29,935		)	—
Other Assets	11,147		21,071		8,587		2,104		—			42,909
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	2,621	$	1,873	$	106	$	—	$	—		$	4,600
Accounts payable	340,850		208,763		22,485		280,417		(830,649		)	21,866
Deferred revenue	—		—		4,682		43,459		—			48,141
Accrued interest	2,579		1,552		7,877		—		—			12,008
Accrued taxes	5,255		6,534		—		39,646		(13,028		)	38,407
Accrued salaries, wages and benefits	—		29,505		1,962		10,672		—			42,139
Self-insurance reserves	—		5,797		1,747		16,387		—			23,931
Other accrued liabilities	446		5,388		693		1,865		—			8,392
	351,751		259,412		39,552		392,446		(843,677		)	199,484
Deferred Tax Liability	—		—		55,676		131,648		(29,935		)	157,389
Derivative Liability	15,115		10,687		—		—		—			25,802
Other Liabilities	20		4,688		—		11,887		—			16,595
Long-Term Debt:
Term debt	350,046		250,088		14,116		—		—			614,250
Notes	294,897		205,103		450,000		—		—			950,000
	644,943		455,191		464,116		—		—			1,564,250
Equity	153,556		314,864		130,169		1,178,114		(1,623,147		)	153,556
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076

21

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	75,000	$	4,144	$	35,575	$	3,337	$	—		$	118,056
Receivables	6		115,972		67,829		552,633		(715,107		)	21,333
Inventories	—		1,968		1,898		22,214		—			26,080
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	599		4,443		14,266		7,764		(15,719		)	11,353
	75,605		131,957		120,368		589,393		(730,826		)	186,497
Property and Equipment (net)	447,724		976		243,208		813,855		—			1,505,763
Investment in Park	514,948		796,735		142,668		63,948		(1,518,299		)	—
Goodwill	9,061		—		117,810		111,218		—			238,089
Other Intangibles, net	—		—		16,683		22,788		—			39,471
Deferred Tax Asset	—		31,122		—		117		(31,239		)	—
Other Assets	25,210		10,002		6,657		2,938		—			44,807
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	259,850	$	188,818	$	17,632	$	262,029	$	(715,107	)	$	13,222
Deferred revenue	—		—		2,815		41,706		—			44,521
Accrued interest	4,637		3,223		15,341		—		—			23,201
Accrued taxes	4,609		—		—		30,591		(15,719		)	19,481
Accrued salaries, wages and benefits	—		21,596		1,101		6,503		—			29,200
Self-insurance reserves	—		5,757		1,742		16,154		—			23,653
Other accrued liabilities	1,146		2,993		181		1,201		—			5,521
	270,242		222,387		38,812		358,184		(730,826		)	158,799
Deferred Tax Liability	—		—		57,704		131,648		(31,239		)	158,113
Derivative Liability	15,610		11,052		—		—		—			26,662
Other Liabilities	—		7,858		—		3,432		—			11,290
Long-Term Debt:
Term debt	352,668		251,961		14,221		—		—			618,850
Notes	294,897		205,103		401,782		—		—			901,782
	647,565		457,064		416,003		—		—			1,520,632
Equity	139,131		272,431		134,875		1,110,993		(1,518,299		)	139,131
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627

22

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	133,000	$	2,293	$	36,187	$	12,002	$	—		$	183,482
Receivables	12		124,478		70,303		589,797		(742,056		)	42,534
Inventories	—		1,578		2,090		25,648		—			29,316
Current deferred tax asset	—		3,708		816		3,661		—			8,185
Other current assets	995		3,558		1,275		3,798		—			9,626
	134,007		135,615		110,671		634,906		(742,056		)	273,143
Property and Equipment (net)	450,205		985		248,484		815,000		—			1,514,674
Investment in Park	548,241		824,356		143,548		81,719		(1,597,864		)	—
Goodwill	9,061		—		121,657		111,218		—			241,936
Other Intangibles, net	—		—		17,228		22,797		—			40,025
Deferred Tax Asset	—		30,316		—		90		(30,406		)	—
Other Assets	13,196		9,031		6,902		2,140		—			31,269
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	3,590	$	2,565	$	145	$	—	$	—		$	6,300
Accounts payable	281,983		159,781		7,802		314,367		(742,056		)	21,877
Deferred revenue	—		—		1,951		35,676		—			37,627
Accrued interest	2,677		1,593		5,983		—		—			10,253
Accrued taxes	5,413		29,386		—		4,594		—			39,393
Accrued salaries, wages and benefits	1		27,622		2,154		9,844		—			39,621
Self-insurance reserves	—		5,545		1,896		16,647		—			24,088
Other accrued liabilities	991		4,077		694		1,856		—			7,618
	294,655		230,569		20,625		382,984		(742,056		)	186,777
Deferred Tax Liability	—		—		61,143		126,866		(30,406		)	157,603
Derivative Liability	18,407		13,239		—		—		—			31,646
Other Liabilities	—		5,573		—		3,500		—			9,073
Long-Term Debt:
Term debt	354,534		253,294		14,297		—		—			622,125
Notes	294,897		205,103		401,606		—		—			901,606
	649,431		458,397		415,903		—		—			1,523,731
Equity	192,217		292,525		150,819		1,154,520		(1,597,864		)	192,217
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047

23

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	85,161		$	158,384		$	76,325		$	516,002		$	(240,554	)	$	595,318
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,622			5,743			38,447			—			46,812
Operating expenses	1,248			77,814			17,561			322,580			(240,554		)	178,649
Selling, general and administrative	1,307			35,241			5,082			15,575			—			57,205
Depreciation and amortization	19,709			166			8,685			29,684			—			58,244
Gain on sale of other assets	—			—			—			—			—			—
(Gain) loss on impairment / retirement of fixed assets, net	532			1			229			713			—			1,475
	22,796			115,844			37,300			406,999			(240,554		)	342,385
Operating income (loss)	62,365			42,540			39,025			109,003			—			252,933
Interest expense (income), net	10,622			7,073			6,243			(2,492		)	—			21,446
Net effect of swaps	(666		)	(421		)	—			—			—			(1,087		)
Loss on early debt extinguishment	—			—			(246		)	—			—			(246		)
Unrealized / realized foreign currency gain	—			—			21,515			—			—			21,515
Other (income) expense	187			(2,415		)	531			1,697			—			—
(Income) loss from investment in affiliates	(114,725		)	(58,671		)	(14,629		)	(23,774		)	211,799			—
Income (loss) before taxes	166,947			96,974			25,611			133,572			(211,799		)	211,305
Provision (benefit) for taxes	5,045			12,717			1,836			29,805			—			49,403
Net income (loss)	$	161,902		$	84,257		$	23,775		$	103,767		$	(211,799	)	$	161,902
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975			—			2,975			—			(2,975		)	2,975
Unrealized income (loss) on cash flow hedging derivatives	2,726			807			—			—			(807		)	2,726
Other comprehensive income (loss), (net of tax)	5,701			807			2,975			—			(3,782		)	5,701
Total Comprehensive Income (loss)	$	167,603		$	85,064		$	26,750		$	103,767		$	(215,581	)	$	167,603

24

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	83,285		$	161,866		$	82,265		$	509,467		$	(244,807	)	$	592,076
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,082			39,761			—			45,843
Operating expenses	1,669			76,468			19,042			318,022			(244,807		)	170,394
Selling, general and administrative	1,796			38,083			4,781			14,067			—			58,727
Depreciation and amortization	18,306			10			8,979			30,200			—			57,495
Gain on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	368			—			1			1,268			—			1,637
	22,139			114,561			38,885			394,575			(244,807		)	325,353
Operating income	61,146			47,305			43,380			114,892			—			266,723
Interest expense, net	10,858			6,901			9,731			(1,978		)	—			25,512
Net effect of swaps	810			567			—			—			—			1,377
Unrealized / realized foreign currency loss	—			—			(8,615		)	—			—			(8,615		)
Other (income) expense	188			(2,129		)	584			1,357			—			—
(Income) loss from investment in affiliates	(146,054		)	(78,714		)	(13,606		)	(40,904		)	279,278			—
Income (loss) before taxes	195,344			120,680			55,286			156,417			(279,278		)	248,449
Provision (benefit) for taxes	4,920			14,537			14,390			24,178			—			58,025
Net income (loss)	$	190,424		$	106,143		$	40,896		$	132,239		$	(279,278	)	$	190,424
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(699		)	—			(699		)	—			699			(699		)
Unrealized income (loss) on cash flow hedging derivatives	(2,761		)	(1,202		)	—			—			1,202			(2,761		)
Other comprehensive income (loss), (net of tax)	(3,460		)	(1,202		)	(699		)	—			1,901			(3,460		)
Total Comprehensive Income (loss)	$	186,964		$	104,941		$	40,197		$	132,239		$	(277,377	)	$	186,964

25

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	133,000		$	246,800		$	110,354		$	884,327		$	(375,683	)	$	998,798
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,625			71,561			—			82,887
Operating expenses	3,908			155,169			39,622			583,175			(375,683		)	406,191
Selling, general and administrative	4,170			79,408			9,841			31,807			—			125,226
Depreciation and amortization	34,194			269			15,187			59,875			—			109,525
Gain on sale of other assets	—			—			—			(921		)	—			(921		)
Loss (gain) on impairment / retirement of fixed assets, net	781			—			229			1,677			—			2,687
	43,053			237,547			73,504			747,174			(375,683		)	725,595
Operating income	89,947			9,253			36,850			137,153			—			273,203
Interest expense (income), net	31,354			21,438			27,644			(6,430		)	—			74,006
Net effect of swaps	(650		)	(381		)	—			—			—			(1,031		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency gain	—			—			22,597			—			—			22,597
Other (income) expense	562			(8,104		)	1,436			6,106			—			—
(Income) loss from investment in affiliates	(72,051		)	(33,249		)	(21,141		)	6,399			120,042			—
Income (loss) before taxes	130,732			29,549			(22,713		)	131,078			(120,042		)	148,604
Provision (benefit) for taxes	8,468			(1,186		)	(16,315		)	35,373			—			26,340
Net loss	$	122,264		$	30,735		$	(6,398	)	$	95,705		$	(120,042	)	$	122,264
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,279			—			2,279			—			(2,279		)	2,279
Unrealized income (loss) on cash flow hedging derivatives	(165		)	(10		)	—			—			10			(165		)
Other comprehensive income (loss), (net of tax)	2,114			(10		)	2,279			—			(2,269		)	2,114
Total Comprehensive Loss	$	124,378		$	30,725		$	(4,119	)	$	95,705		$	(122,311	)	$	124,378

26

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,528		$	255,595		$	117,508		$	877,450		$	(386,586	)	$	995,495
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,076			72,857			—			81,933
Operating expenses	4,500			150,320			40,569			579,532			(386,586		)	388,335
Selling, general and administrative	4,310			81,584			9,360			30,279			—			125,533
Depreciation and amortization	31,672			28			15,797			60,816			—			108,313
(Gain) on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	404			—			479			1,383			—			2,266
	40,886			231,932			75,281			736,124			(386,586		)	697,637
Operating income (loss)	90,642			23,663			42,227			141,326			—			297,858
Interest expense, net	31,580			21,824			29,338			(5,715		)	—			77,027
Net effect of swaps	5,067			3,248			—			—			—			8,315
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			15,229			—			—			15,229
Other (income) expense	563			(6,645		)	1,967			4,115			—			—
(Income) loss from investment in affiliates	(104,833		)	(58,614		)	(18,318		)	(15,029		)	196,794			—
Income (loss) before taxes	137,090			51,069			13,394			157,955			(196,794		)	162,714
Provision (benefit) for taxes	8,402			(2,444		)	(1,596		)	29,664			—			34,026
Net loss	$	128,688		$	53,513		$	14,990		$	128,291		$	(196,794	)	$	128,688
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	1,194			—			1,194			—			(1,194		)	1,194
Unrealized income (loss) on cash flow hedging derivatives	7,803			1,836			—			—			(1,836		)	7,803
Other comprehensive income (loss), (net of tax)	8,997			1,836			1,194			—			(3,030		)	8,997
Total Comprehensive Loss	$	137,685		$	55,349		$	16,184		$	128,291		$	(199,824	)	$	137,685

27

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	153,941		$	287,282		$	120,538		$	1,013,346		$	(437,232	)	$	1,137,875
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,871			81,154			—			92,726
Operating expenses	5,411			188,453			46,823			686,745			(437,232		)	490,200
Selling, general and administrative	5,577			98,649			11,465			36,414			—			152,105
Depreciation and amortization	39,329			278			16,723			67,369			—			123,699
(Gain) on sale of other assets	—			—			—			(921		)	—			(921		)
Loss on impairment / retirement of fixed assets, net	801			—			229			1,930			—			2,960
	51,118			290,081			84,111			872,691			(437,232		)	860,769
Operating income	102,823			(2,799		)	36,427			140,655			—			277,106
Interest (income) expense, net	42,404			28,489			37,682			(8,679		)	—			99,896
Net effect of swaps	(1,527		)	(936		)	—			—			—			(2,463		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency loss	—			—			36,309			—			—			36,309
Other (income) expense	749			(12,716		)	3,148			8,819			—			—
(Income) loss from investment in affiliates	(50,775		)	(12,155		)	(20,261		)	23,905			59,286			—
Income (loss) before taxes	111,972			(5,481		)	(49,478		)	116,610			(59,286		)	114,337
Provision (benefit) for taxes	10,192			(10,875		)	(25,575		)	38,815			—			12,557
Net income (loss)	$	101,780		$	5,394		$	(23,903	)	$	77,795		$	(59,286	)	$	101,780
Other comprehensive income, (net of tax):
Cumulative foreign currency translation adjustment	3,841			—			3,841			—			(3,841		)	3,841
Unrealized income on cash flow hedging derivatives	2,768			1,002			—			—			(1,002		)	2,768
Other comprehensive income, (net of tax)	6,609			1,002			3,841			—			(4,843		)	6,609
Total Comprehensive Income (loss)	$	108,389		$	6,396		$	(20,062	)	$	77,795		$	(64,129	)	$	108,389

28

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	152,379		$	292,510		$	127,485		$	996,647		$	(444,321	)	$	1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,404			83,651			—			93,055
Operating expenses	5,739			179,465			48,104			669,919			(444,321		)	458,906
Selling, general and administrative	5,964			97,351			10,618			34,423			—			148,356
Depreciation and amortization	35,896			40			17,581			68,891			—			122,408
(Gain) on sale of other assets	—			—			—			(15,368		)	—			(15,368		)
Loss (gain) on impairment / retirement of fixed assets, net	1,318			—			476			6,578			—			8,372
	48,917			276,856			86,183			848,094			(444,321		)	815,729
Operating income	103,462			15,654			41,302			148,553			—			308,971
Interest expense, net	43,667			29,195			39,310			(8,465		)	—			103,707
Net effect of swaps	4,964			3,177			—			—			—			8,141
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			20,157			—			—			20,157
Other (income) expense	751			(9,033		)	2,766			5,516			—			—
(Income) loss from investment in affiliates	(95,234		)	(51,316		)	(18,019		)	(8,239		)	172,808			—
Income before taxes	128,139			30,850			(3,529		)	159,741			(172,808		)	142,393
Provision (benefit) for taxes	9,776			(8,530		)	(11,708		)	34,492			—			24,030
Net income	$	118,363		$	39,380		$	8,179		$	125,249		$	(172,808	)	$	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,814			—			2,814			—			(2,814		)	2,814
Unrealized income (loss) on cash flow hedging derivatives	9,740			2,385			—			—			(2,385		)	9,740
Other comprehensive income (loss), (net of tax)	12,554			2,385			2,814			—			(5,199		)	12,554
Total Comprehensive Income	$	130,917		$	41,765		$	10,993		$	125,249		$	(178,007	)	$	130,917

29

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	122,796		$	11,832		$	14,637		$	164,278		$	(1,824	)	$	311,719
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables receipts	—			13,794			—			(77,332		)	63,538			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(55,105		)	(257		)	(14,394		)	(67,257		)	—			(137,013		)
Net cash from investing activities	(55,105		)	13,537			(14,394		)	(143,212		)	63,538			(135,636		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(119,292		)	—			—			—			1,824			(117,468		)
Payment of debt issuance costs	—			—			(9,795		)	—			—			(9,795		)
Intercompany payables (payments) receipts	100,601			(26,534		)	3,486			(14,015		)	(63,538		)	—
Excess tax benefit from unit-based compensation expense	—			(785		)	—			—			—			(785		)
Net cash (for) financing activities	(18,691		)	(27,319		)	17,543			(14,015		)	(61,714		)	(104,196		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(569		)	—			—			(569		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	49,000			(1,950		)	17,217			7,051			—			71,318
Balance, beginning of period	75,000			4,144			35,575			3,337			—			118,056
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

30

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)				Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	140,022		$	40,030			$	10,864		$	139,212		$	(13,173	)	$	316,955
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			41,768				—			(55,439		)	13,671			—
Sale of other assets	—			—				—			15,297			—			15,297
Capital expenditures	(43,568		)	—				(5,517		)	(48,449		)	—			(97,534		)
Net cash from (for) investing activities	(43,568		)	41,768				(5,517		)	(88,591		)	13,671			(82,237		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			—	14,478			—			—			630,000
Note borrowings	294,897			205,103				—			—			—			500,000
Payment of debt issuance costs	(14,332		)	(8,028		)		(452		)	—			—			(22,812		)
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)		(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(107,013		)	2,555				(13,173		)	—			13,173			(104,458		)
Intercompany payables (payments) receipts	134,695			(73,536		)		(5,656		)	(41,832		)	(13,671		)	—
Exercise of limited partnership unit options	—			43				—			—			—			43
Excess tax benefit from unit-based compensation expense	—			(148		)		—			—			—			(148		)
Net cash (for) financing activities	11,546			(79,949		)		(19,317		)	(41,832		)	(498		)	(130,050		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—				(16		)	—			—			(16		)
CASH AND CASH EQUIVALENTS
Net increase for the period	108,000			1,849				(13,986		)	8,789			—			104,652
Balance, beginning of period	25,000			444				50,173			3,213			—			78,830
Balance, end of period	$	133,000		$	2,293			$	36,187		$	12,002		$	—		$	183,482

31

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	145,424		$	(4,845	)	$	16,902		$	163,482		$	(2,966	)	$	317,997
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			16,049			—			(77,029		)	60,980			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(67,790		)	(257		)	(18,851		)	(73,174		)	—			(160,072		)
Net cash (for) investing activities	(67,790		)	15,792			(18,851		)	(148,826		)	60,980			(158,695		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Term debt payments, including amounts paid for early termination	(5,457		)	(3,898		)	(220		)	—			—			(9,575		)
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(159,433		)	—			—			—			2,966			(156,467		)
Intercompany payables (payments) receipts	78,459			(7,234		)	6,025			(16,270		)	(60,980		)	—
Excess tax benefit from unit-based compensation expense	—			218			—			—			—			218
Payment of debt issuance costs	(203		)	(142		)	(9,887		)	—			—			(10,232		)
Exercise of limited partnership unit options	—			10			—			—			—			10
Net cash (for) financing activities	(86,634		)	(11,046		)	19,770			(16,270		)	(58,014		)	(152,194		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(1,216		)	—			—			(1,216		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(9,000		)	(99		)	16,605			(1,614		)	—			5,892
Balance, beginning of period	133,000			2,293			36,187			12,002			—			183,482
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

32

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables payments	—			46,143			—			(60,099		)	13,956			—
Sale of other assets	—			—			—			30,182			—			30,182
Capital expenditures	(47,938		)	(1		)	(5,532		)	(63,290		)	—			(116,761		)
Net cash from (for) investing activities	(47,938		)	46,142			(5,532		)	(93,207		)	13,956			(86,579		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			14,478			—			—			630,000
Note borrowings	294,897			205,103			—			—			—			500,000
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)	(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(129,277		)	2,571			(13,173		)	—			13,173			(126,706		)
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
Payment of debt issuance costs	(14,331		)	(8,028		)	(453		)	—			—			(22,812		)
Exercise of limited partnership unit options	—			43			—			—			—			43
Excess tax benefit from unit-based compensation	—			1,515			—			—			—			1,515
Net cash from (for) financing activities	(74,392		)	(11,494		)	(17,760		)	(46,206		)	(783		)	(150,635		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(254		)	—			—			(254		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	90,000			30			(4,091		)	1,441			—			87,380
Balance, beginning of period	43,000			2,263			40,278			10,561			—			96,102
Balance, end of period	$	133,000		$	2,293		$	36,187		$	12,002		$	—		$	183,482

33

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Business Overview:

We generate our revenues primarily from sales of (1) admission to our parks, (2) food, merchandise and games inside our parks, and (3) hotel rooms, food and other attractions outside our parks. Our principal costs and expenses, which include salaries and wages, advertising, maintenance, operating supplies, utilities and insurance, are relatively fixed and do not vary significantly with attendance.

Each of our properties is overseen by a park general manager and operates autonomously. Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources on a property-by-property basis.

Along with attendance and guest per capita statistics, discrete financial information and operating results are prepared at the individual park level for use by the CEO, who is the Chief Operating Decision Maker (CODM), as well as by the Chief Financial Officer, the Chief Operating Officer, the Executive Vice President - Operations, and the park general managers.

Critical Accounting Policies:

Management’s discussion and analysis of financial condition and results of operations is based upon our unaudited condensed consolidated financial statements, which were prepared in accordance with accounting principles generally accepted in the United States of America. These principles require us to make judgments, estimates and assumptions during the normal course of business that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ significantly from those estimates under different assumptions and conditions.

Management believes that judgment and estimates related to the following critical accounting policies could materially affect our consolidated financial statements:

•Impairment of Long-Lived Assets

•Goodwill and Other Intangible Assets

•Self-Insurance Reserves

•Derivative Financial Instruments

•Revenue Recognition

• Income Taxes

In the third quarter of 2014, there were no changes in the above critical accounting policies previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2013.

Adjusted EBITDA:

We believe that Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other non-cash items, and adjustments as defined in the 2013 Credit Agreement) is a meaningful measure of park-level operating profitability because we use it for measuring returns on capital investments, evaluating potential acquisitions, determining awards under incentive compensation plans, and calculating compliance with certain loan covenants. Adjusted EBITDA is provided in the discussion of results of operations that follows as a supplemental measure of our operating results and is not intended to be a substitute for operating income, net income or cash flows from operating activities as defined under generally accepted accounting principles. In addition, Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

34

The table below sets forth a reconciliation of Adjusted EBITDA to net income for the three-, nine- and twelve-month periods ended September 28, 2014 and September 29, 2013.

	Three months ended						Nine months ended						Twelve months ended
	9/28/2014			9/29/2013			9/28/2014			9/29/2013			9/28/2014			9/29/2013
	(13 weeks)			(13 weeks)			(39 weeks)			(39 weeks)			(52 weeks)			(52 weeks)
	(In thousands)
Net income	$	161,902		$	190,424		$	122,264		$	128,688		$	101,780		$	118,363
Interest expense	21,462			25,529			74,101			77,153			100,019			103,870
Interest income	(16		)	(17		)	(95		)	(126		)	(123		)	(163		)
Provision for taxes	49,403			58,025			26,340			34,026			12,557			24,030
Depreciation and amortization	58,244			57,495			109,525			108,313			123,699			122,408
EBITDA	290,995			331,456			332,135			348,054			337,932			368,508
Loss (gain) on early extinguishment of debt	(246		)	—			29,027			34,573			29,027			34,573
Net effect of swaps	(1,087		)	1,377			(1,031		)	8,315			(2,463		)	8,141
Unrealized foreign currency (gain) loss	21,503			(8,385		)	22,523			15,371			36,237			20,298
Non-cash equity expense	1,592			843			8,369			4,645			9,259			5,280
Loss on impairment/retirement of fixed assets, net	1,475			1,637			2,687			2,266			2,960			8,372
Gain on sale of other assets	—			(8,743		)	(921		)	(8,743		)	(921		)	(15,368		)
Other non-recurring items (as defined) (1)	1,377			197			1,935			705			2,937			859
Adjusted EBITDA	$	315,609		$	318,382		$	394,724		$	405,186		$	414,968		$	430,663
(1) The Company's 2013 Credit Agreement references certain costs as non-recurring or unusual. These items are excluded in the calculation of Adjusted EBITDA and have included certain litigation expenses, contract termination costs, and severance expense.

35

Results of Operations:

Nine months ended September 28, 2014

The fiscal nine-month period ended September 28, 2014, consisted of a 39-week period and included a total of 1,812 operating days compared with 39 weeks and 1,936 operating days for the fiscal nine-month period ended September 29, 2013. The difference in operating days is due to the sale of a water park in the third quarter of 2013.

The following table presents key financial information for the nine months ended September 28, 2014 and September 29, 2013:

	Nine months ended			Nine months ended			Increase (Decrease)
	9/28/2014			9/29/2013			$			%
	(39 weeks)			(39 weeks)
	(Amounts in thousands)
Net revenues	$	998,798		$	995,495		$	3,303		N/M
Operating costs and expenses	614,304			595,801			18,503			3.1	%
Depreciation and amortization	109,525			108,313			1,212			1.1	%
Loss on impairment / retirement of fixed assets	2,687			2,266			421			N/M
Gain on sale of other assets	(921		)	(8,743		)	7,822			N/M
Operating income	$	273,203		$	297,858		$	(24,655	)	(8.3	)%
N/M - not meaningful
Other Data:
Adjusted EBITDA	$	394,724		$	405,186		$	(10,462	)	(2.6	)%
Adjusted EBITDA margin	39.5		%	40.7		%	—			(1.2	)%
Attendance	20,272			20,652			(380		)	(1.8	)%
Per capita spending	$	45.41		$	44.24		$	1.17		2.6	%
Out-of-park revenues	$	103,820		$	106,801		$	(2,981	)	(2.8	)%

Net revenues increased slightly for the nine months ended September 28, 2014 compared with net revenues during the nine months ended September 29, 2013. The slight increase in net revenues reflects a 3%, or $1.17, increase in average in-park guest per capita spending during the first nine months of the year when compared with the first nine months of 2013. In-park guest per capita spending represents the average amount spent per attendee to gain admission to a park plus all amounts spent while inside the park gates. The increase in per capita spending was the result of enhancements made to the overall guest experience, including improvements in food and beverage programs, resulting in increased spending and capture rates across all categories of our business. For the nine-month period, out-of-park revenues decreased 3%, or $3.0 million. Out-of-park revenues include the sale of hotel rooms, food, merchandise, and other complementary activities located outside of the park gates, as well as transaction fees from on-line product sales. The decrease in out-of-park revenues was due to the soft results at our resort properties. Net revenues through the first nine months of 2014 also reflect a 2% decrease in attendance when compared with the same period a year ago. Excluding the prior period attendance at the water park sold in the third quarter of 2013, attendance would have decreased by 1%. This decrease in attendance was primarily due to harsher than normal winter conditions, regional flooding, a water main break and challenging summer weather. Revenues for the first nine months of the year also reflect the negative impact of exchange rates on our Canadian operations ($6.8 million) during the period.

For the nine-month period in 2014, operating costs and expenses increased 3%, or $18.5 million, to $614.3 million from $595.8 million for the same period in 2013, the net result of a $17.9 million increase in operating expenses and a $1.0 million increase in cost of goods sold, somewhat offset by a $0.3 million decrease in selling, general and administrative costs ("SG&A"). The $17.9 million increase in operating expenses was due to several factors. First, the period had an increase in labor costs, due to staffing, benefits and hourly wages. Second, maintenance expenses increased, driven by higher than normal operating and maintenance expense due to harsher weather, and enhancements to our parks' infrastructures. Third, show and attraction expenses were higher as the result of new shows and attractions being introduced. Fourth, operating supplies and expenses increased due to consulting and information technology expenses related to infrastructure improvements, transaction based fees, and costs associated with initiatives to improve guest experience. Finally, utility costs increased due to inclement winter weather and an increase in rates. The $1.0 million increase in cost of goods sold was related to increases in volume and cost of goods sold as a

36

percentage of revenues was comparable for the periods. Expenses for the first nine months of the year also reflect the positive impact of exchange rates on our Canadian operations ($3.4 million) during the period.

Depreciation and amortization expense for the period increased 1.1%, or $1.2 million. For the nine-month period of 2014, the loss on impairment/retirement of fixed assets was $2.7 million, reflecting the retirement of assets during the period at several of our properties, as compared to $2.3 million in 2013 for the same reason. Additionally, during the nine-month period ended September 28, 2014, excess land was sold for a $0.9 million gain, as compared to $8.7 million in 2013 for the gain on sale of one of our non-core water parks. After depreciation, amortization, loss on impairment / retirement of fixed assets, gain on sale of other assets, and all other non-cash costs, operating income for the period decreased $24.7 million to $273.2 million in the first nine months of 2014 from operating income of $297.9 million in the first nine months of 2013.

Interest expense for the first nine months of 2014 was $74.1 million, a decrease of $3.1 million from the first nine months of 2013. The decrease in interest expense was due to a decrease in revolver interest in the period due to lower borrowings, a decrease in non-cash amortization expense resulting from the write-off of loan fees related to our prior credit agreement, and a lower interest rate on our notes, partially offset by the overlap of one month of interest on our July 2010 and June 2014 notes as well as the impact of a higher balance of our June 2014 notes.

The net effect of our swaps resulted in a non-cash benefit to earnings of $1.0 million for the first nine months of 2014 compared with a $8.3 million non-cash charge to earnings in the first nine months of 2013. The difference reflects the write off of amounts in AOCI related to de-designated interest rate swaps during the nine-month period ended September 29, 2013. During the current year-to-date period, we also recognized a $22.6 million net charge to earnings for unrealized/realized foreign currency losses compared with a $15.2 million net charge to earnings in the prior year-to-date period. Both amounts represented foreign currency losses on the U.S.-dollar denominated debt held at our Canadian property. Due to our June 2014 bond financing, loan fees related to the July 2010 notes were written off. Additionally, a "make-whole" premium, as prescribed in the July 2010 Indenture, was paid to redeem the July 2010 notes. Together, these amounts resulted in a non-cash charge to earnings totaling $29.0 million in the current nine-month period. For the nine month period ending September 29, 2013, as a result of the March 2013 refinancing, loan fees related to our 2010 and 2011 financings were written off, resulting in a $34.6 million non-cash charge to earnings in the period.

During the first nine months of 2014, a provision for taxes of $26.3 million was recorded to account for publicly traded partnership (“PTP”) taxes and the tax attributes of our corporate subsidiaries. During the same nine-month period in 2013, a provision for taxes of $34.0 million was recorded. Actual cash taxes paid or payable are estimated to be between $14 million and $17 million for the 2014 calendar year.

After interest expense and the provision for taxes, the net income for the nine months ended September 28, 2014 totaled $122.3 million, or $2.19 per diluted limited partner unit, compared with a net income of $128.7 million, or $2.31 per diluted unit, for the same period a year ago.

We believe Adjusted EBITDA is a meaningful measure of our operating results (for additional information regarding Adjusted EBITDA, including how we define and use Adjusted EBITDA, as well as a reconciliation from net income, see pages 36-37). For the nine-month period, Adjusted EBITDA decreased to $394.7 million compared with $405.2 million for the fiscal nine-month period ended September 29, 2013. Over this same period, our Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) decreased 1.2% to 39.5% from 40.7% for the fiscal nine-month period ended September 29, 2013. This decrease is a result of a lower attendance base during the current period compared with the prior-year period, along with higher employee-related costs, maintenance costs, utility costs, and costs associated with improving the guest experience. The higher costs and the shortfalls in attendance and hotel bookings were offset somewhat by incremental revenues resulting from higher average guest per capita spending in admissions and in-park guest spending, including food and beverage.

Third Quarter -

The fiscal three-month period ended September 28, 2014, consisted of a 13-week period and included a total of 972 operating days compared with 13 weeks and 1,019 operating days for the fiscal three-month period ended September 29, 2013. The difference in operating days is due to the sale of a water park during the third quarter of 2013.

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The following table presents key financial information for the three months ended September 28, 2014 and September 29, 2013:

	Three months ended		Three months ended			Increase (Decrease)
	9/28/2014		9/29/2013			$			%
	(13 weeks)		(13 weeks)
	(Amounts in thousands)
Net revenues	$	595,318	$	592,076		$	3,242		0.5	%
Operating costs and expenses	282,666		274,964			7,702			2.8	%
Depreciation and amortization	58,244		57,495			749			1.3	%
Loss on impairment / retirement of fixed assets	1,475		1,637			(162		)	N/M
Gain on sale of other assets	—		(8,743		)	8,743			N/M
Operating income	$	252,933	$	266,723		$	(13,790	)	(5.2	)%
N/M - Not meaningful
Other Data:
Adjusted EBITDA	$	315,609	$	318,382		$	(2,773	)	(0.9	)%
Attendance	11,849		11,975			(126		)	(1.1	)%
Per capita spending	$	46.58	$	45.73		$	0.85		1.9	%
Out-of-park revenues	$	58,103	$	58,690		$	(587	)	(1.0	)%

For the quarter ended September 28, 2014, net revenues increased by $3.2 million, to $595.3 million from $592.1 million in the third quarter of 2013. This increase reflects a 2% increase in average in-park per capita spending, offset partially by a 1%, or $0.6 million, decrease in out-of park revenues and a 1.1% decrease in combined attendance. Excluding a non-core, stand-alone water park sold in August 2013, attendance on a comparable-park basis decreased 0.6%, or 65,000 visits. The increase in per capita spending was the result of enhancements made to the overall guest experience, including improvements in food and beverage programs, resulting in increased spending and capture rates across all categories of our business. The decrease in out-of-park revenues was due to the soft results at our resort properties. Attendance for the third quarter was negatively impacted by cooler and wetter than normal summer weather conditions. Revenues for the third quarter of 2014 also reflect the negative impact of exchange rates on our Canadian operations ($4.8 million) during the period.

Operating costs and expenses for the quarter increased 3%, or $7.7 million, to $282.7 million from $275.0 million in the third quarter of 2013, the net result of a $8.3 million increase in operating expenses and a $1.0 million increase in cost of goods sold, somewhat offset by a $1.5 million decrease SG&A. The $8.3 million increase in operating expenses was primarily due to several items. The three-month period ended September 28, 2014, had an increase in labor costs, due to higher staffing levels, benefits and hourly wages. Second, show and attraction expenses were higher as the result of new shows and attractions being introduced. Third, operating supplies increased due primarily to incremental costs associated with initiatives to improve guest experience and transaction based fees. The $1.0 million increase in cost of goods sold was related to increases in volume and cost of goods sold as a percentage of revenues was comparable for the periods. The $1.5 million decrease in SG&A was primarily due to a reduction in incentive compensation and advertising expenses as compared to the same quarter for the prior year. Expenses for the third quarter also reflect the positive impact of exchange rates on our Canadian operations ($1.7 million) during the period.

Depreciation and amortization expense for the quarter increased $0.7 million primarily due to additional capital expenditures. For the third quarter of 2014, the loss on impairment/retirement of fixed assets was $1.5 million, reflecting the retirement of assets during the period at several of our properties, as compared to $1.6 million in 2013 for the same reason. Additionally, there were no gains on sales of assets during the third quarter of 2014, as compared to $8.7 million in the third quarter of 2013 for the gain on sale of one of our non-core water parks. After depreciation, amortization, loss on impairment / retirement of fixed assets, gain on sale of other assets, and all other non-cash costs, operating income for the period decreased $13.8 million to $252.9 million in the third quarter of 2014 from operating income of $266.7 million in the third quarter of 2013.

Interest expense for the third quarter of 2014 was $21.5 million the impact of a decrease of $4.1 million from the third quarter of 2013. The decrease was due to a lower rate on the March 2013 notes, partially offset by a higher balance of our June 2014 notes.

The net effect of our swaps resulted in a non-cash benefit to earnings of $1.1 million for the third quarter of 2014 compared with a $1.4 million non-cash charge to earnings in the third quarter of 2013. The difference reflects the change in fair market movements in our de-designated swap portfolio. During the current quarter, we also recognized a $21.5 million charge to earnings for unrealized/

38

realized foreign currency losses compared with a $8.6 million net benefit to earnings for the quarter in 2013. Both amounts represented foreign currency movements on the U.S.-dollar denominated debt held at our Canadian property.

During the quarter, a provision for taxes of $49.4 million was recorded to account for PTP taxes and the tax attributes of our corporate subsidiaries, compared to a provision for taxes of $58.0 million in the same period a year ago. After interest expense and the provision for taxes, net income for the quarter totaled $161.9 million, or $2.90 per diluted limited partner unit, compared with net income of $190.4 million, or $3.41 per diluted unit, for the third quarter a year ago.

We believe Adjusted EBITDA is a meaningful measure of our operating results (for additional information regarding Adjusted EBITDA, including how we define and use Adjusted EBITDA, as well as a reconciliation from net income, see pages 36-37). For the current quarter, Adjusted EBITDA decreased to $315.6 million from $318.4 million for the fiscal third quarter of 2013. The approximate $2.8 million decrease in Adjusted EBITDA is a direct result of a lower attendance base during the quarter compared with the prior-year period, along with higher employee-related costs, maintenance costs, utility costs, and costs associated with improving the guest experience. Partially offsetting these cost increases and the shortfalls in attendance and hotel bookings were incremental revenues resulting from higher average guest per capita spending in admissions and in-park guest spending, including food and beverage.

Twelve Months Ended September 28, 2014 -

The fiscal twelve-month period ended September 28, 2014, consisted of a 52-week period and 2,017 operating days, compared with 52 weeks and 2,140 operating days for the fiscal twelve-month period ended September 29, 2013. The difference in operating days was due primarily to the sale of a water park, and the combination of two parks, Worlds of Fun and Oceans of Fun, into one gate during 2013.

The following table presents key financial information for the twelve months ended September 28, 2014 and September 29, 2013:

	Twelve months ended			Twelve months ended			Increase (Decrease)
	9/28/2014			9/29/2013			$			%
	(52 weeks)			(52 weeks)
	(Amounts in thousands)
Net revenues	$	1,137,875		$	1,124,700		$	13,175		1.2	%
Operating costs and expenses	735,031			700,317			34,714			5.0	%
Depreciation and amortization	123,699			122,408			1,291			1.1	%
Loss on impairment/retirement of fixed assets	2,960			8,372			(5,412		)	N/M
Gain on sale of other assets	(921		)	(15,368		)	14,447			N/M
Operating income	$	277,106		$	308,971		$	(31,865	)	(10.3	)%
N/M - Not meaningful
Other Data:
Adjusted EBITDA	$	414,968		$	430,663		$	(15,695	)	(3.6	)%
Adjusted EBITDA margin	36.5		%	38.3		%	—			(1.8	)%
Attendance	23,139			23,263			(124		)	(0.5	)%
Per capita spending	$	45.18		$	44.13		1.05			2.4	%
Out-of-park revenues	$	121,184		$	124,041		$	(2,857	)	(2.3	)%

Net revenues totaled $1,137.9 million for the twelve months ended September 28, 2014, increasing $13.2 million, from $1,124.7 million for the trailing twelve months ended September 29, 2013. The 1% increase in revenues for the twelve-month period was driven by an increase in average in-park guest per capita spending, the result of a stronger admissions per cap and improved in-park spending. The increase in in-park spending was in large part the result of improvements in our food and beverage programs and the expansion and the success of our premium benefit offerings. Attendance for the period decreased less than 1% as compared to the prior twelve-month period. Out-of-park revenues decreased $2.9 million primarily due to softer results for our resort properties. Revenues for the trailing-twelve-month period also reflect the negative impact of exchange rates on our Canadian operations ($7.2 million) during the period.

Operating costs and expenses increased $34.7 million, or 5%, to $735.0 million, from $700.3 million for the twelve-month period ended September 29, 2013. The increase in costs and expenses reflects a $31.3 million increase in operating expenses and a $3.7

39

million increase in SG&A costs, somewhat offset by a decrease in cost of goods sold of $0.3 million. The increase in operating costs was due to higher normal operating and maintenance expense, enhancements to our parks' infrastructures, and increased employment-related costs including performance bonuses. SG&A costs increased due to full-time labor and benefit costs, including incentive compensation, and increases in consulting and information technology expenses related to the implementation of new systems. These SG&A cost increases were partially offset by a decrease in advertising agency expenses in the period. Expenses for the trailing-twelve-month period also reflect the positive impact of exchange rates on our Canadian operations ($3.9 million) during the period.

Depreciation and amortization expense for the period increased $1.3 million compared with the prior period due primarily to additional capital expenditures. For the twelve-month period ended September 28, 2014, the loss on impairment/retirement of fixed assets was $3.0 million, reflecting the retirement of assets during the period at several of our properties, as compared to $8.4 million in the prior period for the same reason. Additionally, during the twelve-month period ended September 28, 2014, excess land was sold for a $0.9 million gain, as compared to $15.4 million for the twelve-month period ended September 29, 2013, reflecting the sale of two non-core assets during that period. After depreciation, amortization, loss on impairment / retirement of fixed assets, gain on sale of other assets, and all other non-cash costs, operating income for the current period decreased $31.9 million to $277.1 million from $309.0 million.

Interest expense for the twelve months ended September 28, 2014 decreased $3.9 million to $100.0 million, from $103.9 million for the same twelve-month period a year ago. The decrease in interest expense reflects a decrease in revolver interest in the period due to lower borrowings, a lower average cost resulting from the March 2013 and June 2014 refinancings and a decrease in non-cash amortization expense resulting from the write-off of loan fees related to our prior credit agreement. Somewhat offsetting these decreases was the overlap of one month of interest on our June 2014 and July 2010 notes for the month of June, when the July 2010 notes were redeemed.

During the current twelve-month period, the net effect of our interest rate swaps was recorded as a non-cash benefit to earnings of $2.5 million compared to a non-cash charge to earnings of $8.1 million in the prior twelve-month period. The difference was primarily due to the write off of amounts in AOCI related to de-designated interest rate swaps during the twelve month period ended September 29, 2013. During the current period, we also recognized a $36.3 million charge to earnings for unrealized/realized foreign currency losses compared with a $20.2 million charge to earnings in the prior period, both of which represented foreign currency loss on the U.S.-dollar denominated debt held at our Canadian property. Due to our June 2014 bond financing, loan fees related to the July 2010 notes were written off. Additionally, a "make-whole" premium, as prescribed in the July 2010 Indenture, was paid to redeem the July 2010 notes. Together, these amounts resulted in a non-cash charge to earnings totaling $29.0 million. During the twelve months ended September 29, 2013, as a result of our March 2013 refinancing, loan fees that were paid as part of our 2010 and 2011 financings were written off, resulting in a $34.6 million non-cash charge to earnings recorded in "Loss on early debt extinguishment" on the consolidated statement of operations.

A provision for taxes of $12.6 million was recorded in the period for the tax attributes of our corporate subsidiaries and PTP taxes. This compares with a provision for taxes of $24.0 million in the twelve-month period ended September 29, 2013. The decrease in tax provision recorded relates to a decrease in pre-tax net income for the period.

After interest expense and provision for taxes, net income for the period totaled $101.8 million, or $1.82 per diluted limited partner unit, compared with net income of $118.4 million, or $2.12 per diluted unit, a year ago.

We believe Adjusted EBITDA is a meaningful measure of our operating results (for additional information regarding Adjusted EBITDA, including how we define and use Adjusted EBITDA, as well as a reconciliation from net income, see pages 36-37). For the twelve-month period ended September 28, 2014, Adjusted EBITDA decreased $15.7 million, or 4%, to $415.0 million. Over this same period, our Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) decreased 1.8% to 36.5% from 38.3% for the twelve-month period ended September 29, 2013. The decrease in Adjusted EBITDA was primarily due to a lower attendance base during the current period compared with the prior-year period, along with higher employee-related costs, maintenance costs, utility costs, and costs associated with improving the guest experience. The higher costs and the shortfalls in attendance and hotel bookings were offset somewhat by incremental revenues resulting from higher average guest per capita spending in admissions and in-park guest spending, including food and beverage.

October 2014 -

Based on preliminary results, net revenues on a comparable-park basis through November 2, 2014 were up 2%, or $19 million, to approximately $1.12 billion. The increase was the result of a 3%, or $1.20, increase in average in-park guest per capita spending to a record $45.62, somewhat offset by a $2 million decrease in out-of-park revenues to $114 million and a less than 1% decrease in comparable-park attendance to 22.6 million visits.

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Liquidity and Capital Resources:

With respect to both liquidity and cash flow, we ended the third quarter of 2014 in sound condition. The positive working capital ratio (current assets divided by current liabilities) of 1.4 at September 28, 2014 is the result of normal seasonal activity. Receivables, inventories, and payables are at normal seasonal levels.

Operating Activities

During the nine-month period ended September 28, 2014, net cash provided by operating activities decreased $5.2 million from the same period a year ago, due primarily to a decrease in operating results, somewhat offset by an increase in non-cash expenses.

For the twelve-month period ended September 28, 2014 net cash provided by operating activities decreased $6.9 million from the same period a year ago, due primarily to a decrease in operating results, somewhat offset by an increase in non-cash expenses.

Investing Activities

Net cash used in investing activities in the nine-month period ended September 28, 2014 was $135.6 million, an increase of $53.4 million compared with the nine-month period ended September 29, 2013, primarily due to increased capital expenditures, somewhat offset by a decrease in the sale of other assets.

Net cash used in investing activities for the trailing-twelve-month period ended September 28, 2014 totaled $158.7 million compared with $86.6 million for the same period a year ago. This increase is primarily due to increased capital expenditures, somewhat offset by a decrease in the sale of other assets.

Financing Activities

Net cash used by financing activities in the first nine months of 2014 was $104.2 million, a decrease of $25.9 million compared with the nine-month period ended September 29, 2013. The decrease was due to an increase in cash provided by the June 2014 bond refinancing and the early redemption of our July 2010 notes as compared with the cash provided due to our March 2013 refinancing. Somewhat offsetting this decrease was a net increase in unitholder distributions and a reduction in revolver balances.

Net cash used in financing activities in the trailing-twelve-month period ended September 28, 2014 totaled $152.2 million, an increase of $1.6 million compared with the twelve-month period ended September 29, 2013. The increase was largely due to an increase in debt related activities, including debt borrowings/payoffs and debt issuance costs, during the current period, and increases in unitholder distributions.

As of September 28, 2014, our debt consisted of the following:

• $450 million of 5.375% senior unsecured notes, maturing in 2024, issued at par. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to June 1, 2017, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.375% together with accrued and unpaid interest. The notes pay interest semi-annually in June and December.

• $500 million of 5.25% senior unsecured notes, maturing in 2021, issued at par. The notes may be redeemed, in whole or in part, at any time prior to March 15, 2016 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to March 15, 2016, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.25% together with accrued and unpaid interest. These notes pay interest semi-annually in March and September.

• Senior secured term debt of $618.9 million, maturing in March 2020 under our 2013 Credit Agreement. The term debt bears interest at a rate of LIBOR plus 250 bps with a LIBOR floor of 75 bps. The term loan amortizes at $6.3 million annually. Due to a prepayment made during 2013, we only have current maturities totaling $4.6 million as of September 28, 2014.

• No borrowings under the $255 million senior secured revolving credit facility under our 2013 Credit Agreement. Under the 2013 Credit Agreement, the Canadian portion of the revolving credit facility has a sub-limit of $15 million. U.S. denominated and Canadian denominated loans made under the revolving credit facility bear interest at a rate of LIBOR plus 225 bps (with no LIBOR floor). The revolving credit facility is scheduled to mature in March 2018 and also provides for the issuance of documentary and standby letters of credit. The 2013 Credit Agreement requires that we pay a commitment fee of 38 bps per annum on the unused portion of the credit facilities.

41

During the second quarter of 2014, we redeemed our 9.125% notes, which were scheduled to mature in 2018, in connection with issuing our new 5.375% notes due in 2024. The redemption of these notes included the payment of a "make-whole" premium of $21.1 million in accordance with the terms of the indenture. At the end of this quarter, we had a total of $618.9 million of variable-rate term debt (before giving consideration to fixed-rate interest rate swaps), $950.0 million of fixed-rate debt, no outstanding borrowings under our revolving credit facility, and cash on hand of $189.4 million. After letters of credit, which totaled $16.3 million at September 28, 2014, we had $238.7 million of available borrowings under the revolving credit facility.

We have entered into several interest rate swaps that effectively fix all of our variable-rate debt payments. As of September 28, 2014, we have $800 million of interest rate swaps in place that effectively convert variable-rate debt to fixed rates. These swaps, which mature in December 2015 and fix LIBOR at a weighted average rate of 2.38%, have been de-designated as cash flow hedges. During the third quarter and fourth quarter of 2013, we entered into four forward-starting interest rate swap agreements that will effectively convert $500 million of variable-rate debt to fixed rates beginning in December of 2015. These swaps, which were designated as cash flow hedges, mature on December 31, 2018 and fix LIBOR at a weighted average rate of 2.94%. Additional detail regarding our current and historical swap arrangements is provided in Note 6 to our Unaudited Condensed Consolidated Financial Statements and in Note 6 to the Audited Consolidated Financial Statements included in our Form 10-K filed on February 26, 2014.

At September 28, 2014, the fair market value of the derivative portfolio was $25.8 million, which was recorded in “Derivative Liability” on the condensed consolidated balance sheet.

The 2013 Credit Agreement requires us to maintain specified financial ratios, which if breached for any reason and not cured, could result in an event of default under the agreement. The most critical of these ratios is the Consolidated Leverage Ratio, which is measured on a trailing-twelve-month quarterly basis. At the end of the third quarter of 2014, this ratio was set at 6.00x consolidated total debt (excluding the revolving debt)-to-consolidated EBITDA. The ratio will decrease by 0.25x each second quarter until it reaches 5.25x. Based on our trailing-twelve-month results ending September 28, 2014, our Consolidated Leverage Ratio was 3.78x, providing $153.5 million of EBITDA cushion on the ratio at the end of the third quarter. We were in compliance with all other covenants under the 2013 Credit Agreement as of September 28, 2014.

The 2013 Credit Agreement allows restricted payments of up to $60 million annually so long as no default or event of default has occurred and is continuing. Additional restricted payments are allowed to be made based on an excess-cash-flow formula, should our pro-forma Consolidated Leverage Ratio be less than or equal to 5.0x, measured on a trailing-twelve-month quarterly basis.

The indentures governing our notes also include annual restricted payment limitations and additional permitted payment formulas. We can make restricted payments of $60 million annually so long as no default or event of default has occurred and is continuing. Our ability to make additional restricted payments in 2014 and beyond is permitted should our pro forma trailing-twelve-month Total Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

In accordance with these debt provisions, on August 5, 2014, we announced the declaration of a distribution of $0.70 per limited partner unit, which was paid on September 15, 2014, and on November 6, 2014 we announced the declaration of a distribution of $0.75 per limited partner unit, which will be payable on December 15, 2014.

Existing credit facilities and cash flows from operations are expected to be sufficient to meet working capital needs, debt service, partnership distributions and planned capital expenditures for the foreseeable future.

Off Balance Sheet Arrangements:

We had $16.3 million in letters of credit, which are primarily in place to backstop insurance arrangements, outstanding on our revolving credit facility as of September 28, 2014. We have no other significant off-balance sheet financing arrangements.

Forward Looking Statements

Some of the statements contained in this report (including the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section) that are not historical in nature are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements as to our expectations, beliefs and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, including those listed under Item 1A in the Company’s Annual Report on Form 10-K, could adversely affect our future financial performance and cause actual results to differ materially from our expectations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to market risks from fluctuations in interest rates, and to a lesser extent on currency exchange rates on our operations in Canada and, from time to time, on imported rides and equipment. The objective of our financial risk management is to reduce the potential negative impact of interest rate and foreign currency exchange rate fluctuations to acceptable levels. We do not acquire market risk sensitive instruments for trading purposes.

We manage interest rate risk through the use of a combination of fixed-rate long-term debt, interest rate swaps that fix a portion of our variable-rate long-term debt, and variable-rate borrowings under our revolving credit facility. Translation exposures with regard to our Canadian operations are not hedged.

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the change in fair value of the derivative instrument is reported as a component of “Other comprehensive income (loss)” and reclassified into earnings in the period during which the hedged transaction affects earnings. Changes in fair value of derivative instruments that do not qualify as effective hedging activities are reported as “Net effect of swaps” in the consolidated statement of operations. Additionally, the “Other comprehensive income (loss)” related to interest rate swaps that become ineffective is amortized over the remaining life of the interest rate swap, and reported as a component of “Net effect of swaps” in the consolidated statement of operations.

As of September 28, 2014, we had $950.0 million of fixed-rate senior unsecured notes and $618.9 million of variable-rate term debt. After considering the impact of interest rate swap agreements, virtually all of our outstanding long-term debt represents fixed-rate debt. Assuming an average balance on our revolving credit borrowings of approximately $18 million, a hypothetical 100 bps increase in 30-day LIBOR on our variable-rate debt (not considering the impact of our interest rate swaps) would lead to an increase of approximately $4.6 million in annual cash interest costs.

Assuming a hypothetical 100 bps increase in 30-day LIBOR, the amount of net cash interest paid on our derivative portfolio would decrease by $5.8 million over the next year.

A uniform 10% strengthening of the U.S. dollar relative to the Canadian dollar would result in a $4.9 million decrease in annual operating income.

ITEM 4. CONTROLS AND PROCEDURES

(a)Evaluation of Disclosure Controls and Procedures - 

The Partnership maintains a system of controls and procedures designed to ensure that information required to be disclosed by the Partnership in its reports under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified by the Commission and that such information is accumulated and communicated to the Partnership’s management, including the Chief Executive Officer and the Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. As of September 28, 2014, the Partnership's management, with the participation of the Partnership's Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Partnership's disclosure controls and procedures. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Partnership's disclosure controls and procedures were effective as of September 28, 2014.

(b)Changes in Internal Control Over Financial Reporting -

There were no changes in the Partnership’s internal control over financial reporting that occurred during the fiscal quarter ended September 28, 2014 that have materially affected, or are reasonably likely to materially affect, the Partnership’s internal control over financial reporting.

On May 14, 2013, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued an updated version of its Internal Control - Integrated Framework (2013 Framework). Originally issued in 1992 (1992 Framework), the framework helps organizations design, implement and evaluate the effectiveness of internal control concepts and simplify their use and application. The 1992 Framework remains available during the transition period, which extends to December 15, 2014, after which time COSO will consider it as superseded by the 2013 Framework. As of September 28, 2014, the Partnership continues to utilize the 1992 Framework during the transition to the 2013 Framework by the end of 2014.

42

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Jacob T. Falfas vs. Cedar Fair, L.P.

On July 23, 2010, Jacob T. (Jack) Falfas, the former Chief Operating Officer, filed a demand for private arbitration as provided by his employment agreement.  In that demand, Mr. Falfas disputed the Partnership's position that he had resigned in June 2010, alleging instead that his employment with the Partnership was terminated without cause.

That dispute went to private arbitration, and on February 28, 2011, an arbitration panel ruled 2-to-1 in favor of Mr. Falfas finding that he did not resign but was terminated without cause. Rather than fashioning a remedy consistent with the employment agreement, the panel ruled that Mr. Falfas should be reinstated. The Partnership believed that the arbitrators exceeded their authority by creating a remedy not legally available to Mr. Falfas under his contract with Cedar Fair. On March 21, 2011, the Partnership filed an action  in Erie County Court of Common Pleas (Case No. 2011 CV 0217) seeking  to have the award modified or vacated.  On March 22, 2011, Mr. Falfas commenced a related action in the Erie County Court of Common Pleas (Case No. 2011 CV 0218) demanding enforcement of the arbitration ruling.  The two actions were combined into Case No. 2011 CV 0217, before Judge Roger E. Binette.  On February 22, 2012 the Erie County Common Pleas Court issued a ruling partially vacating the arbitration award and declaring that Mr. Falfas was not entitled to reinstatement of his employment.  The ruling also provided that in accord with paragraph 2 of the arbitration award Mr. Falfas was entitled to certain back pay and other benefits under his 2007 Amended and Restated Employment Agreement as if the employment relationship had not been severed.  In March of 2012 Mr. Falfas and the Partnership both filed appeals of the Court's ruling with the Ohio Sixth District Court of Appeals in Toledo, Ohio.  On April 19, 2013, the Court of Appeals issued a ruling reversing the Erie County Common Pleas Court's order regarding the reinstatement of Mr. Falfas' employment and affirming the order regarding back pay and other benefits and remanding the case back to the Erie County Common Pleas Court for further proceedings.  On June 3, 2013, the Partnership filed a Notice of Appeal and Memorandum in Support of Jurisdiction with the Ohio Supreme Court related to the April 19, 2013 Court of Appeals decision.  On July 2, 2013, Mr. Falfas filed a Memorandum in Opposition to Jurisdiction with the Ohio Supreme Court.  On September 25, 2013, the Supreme Court of Ohio accepted the appeal on Proposition of Law No. 1 related to the Supreme Court’s holding in Masetta v. National Bronze & Aluminum Foundry Co. 159 Ohio St. 306 (1953), barring specific performance as a remedy for a personal services contract under Ohio law and its applicability to individual employment agreements.  Both parties filed legal briefs with the court setting forth the basis of their legal arguments.  On April 9, 2014, the parties made oral arguments to the Court in support of their respective positions. On September 18, 2014 the Ohio Supreme Court issued its ruling reversing the Court of Appeals and holding that Mr. Falfas was not entitled to reinstatement.  In its decision, the Supreme Court further observed that, because the arbitration panel found that Mr. Falfas was terminated for reasons other than cause, he is entitled to his base salary for either one year or the remaining term of his employment agreement, a result consistent with other references in Item I and section 7 of that agreement.  The matter has now been remanded to the Erie County Common Pleas Court for further proceedings consistent with the Ohio Supreme Court’s decision.

The Partnership believes the liability recorded as of September 28, 2014 to be adequate and does not expect the arbitration ruling, the court order, or the outcome of future proceedings to materially affect its financial results in future periods.

ITEM 1A. RISK FACTORS

There have been no material changes to the risk factors previously disclosed in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2013.

43

ITEM 6. EXHIBITS

Exhibit (10.1)	Section 16 Officer Standard Form of Employment Contract.
Exhibit (31.1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (31.2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (32)	Certifications Pursuant to 18 U.S.C. 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit (101)	The following materials from the Partnership's Quarterly Report on Form 10-Q for the quarter ended September 28, 2014 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Consolidated Statements of Income, (ii) the Condensed Consolidated Balance Sheets, (iii) the Condensed Consolidated Statements of Cash Flow, (iv) the Condensed Consolidated Statement of Equity, and (v) related notes.

44

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		CEDAR FAIR, L.P.
		(Registrant)
		By Cedar Fair Management, Inc.
		General Partner
Date:	November 6, 2014	/s/ Matthew A. Ouimet
		Matthew A. Ouimet
		President and Chief Executive Officer
Date:	November 6, 2014	/s/ Brian C. Witherow
		Brian C. Witherow
		Executive Vice President and
		Chief Financial Officer

45

INDEX TO EXHIBITS

Exhibit (10.1)	Section 16 Officer Standard Form of Employment Contract.
Exhibit (31.1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (31.2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (32)	Certifications Pursuant to 18 U.S.C. 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit (101)	The following materials from the Partnership's Quarterly Report on Form 10-Q for the quarter ended September 28, 2014 formatted in Extensible Business Reporting Language (XBRL): (i) the Condensed Consolidated Statements of Income, (ii) the Condensed Consolidated Balance Sheets, (iii) the Condensed Consolidated Statements of Cash Flow, (iv) the Condensed Consolidated Statement of Equity, and (v) related notes.

46

EX-10.1

Exhibit 10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”), dated ________________________, is by and between Cedar Fair, L.P., a publicly traded Delaware limited partnership, Cedar Fair Management, Inc., an Ohio Corporation (“Cedar Fair Management”), Magnum Management Corporation, an Ohio corporation (“Magnum”), and _______________________ (the “Executive”).

WHEREAS, Cedar Fair, L.P. is affiliated with several corporations and partnerships including, without limitation, Cedar Fair Management and Magnum (collectively, “Cedar Fair” or the “Company”);

WHEREAS, Cedar Fair Management manages the day-to-day activities of, and establishes the long-term objectives for, Cedar Fair;

WHEREAS, The Board of Directors of Cedar Fair Management (the “Board”) and its Chief Executive Officer have directed Cedar Fair to enter into an employment agreement with Executive to set the terms and conditions of employment.

WHEREAS, the Board and Executive intend and agree that upon the date that this Agreement has been fully executed by all of the parties hereto (the “Effective Date”) this Agreement shall supersede and replace all employment agreements between Executive and Cedar Fair that pre-date the Effective Date.

NOW, THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows:

1. Employment. Magnum hereby agrees to employ Executive, and Executive hereby agrees to accept employment with Magnum, upon the terms and conditions contained in this Agreement. Executive’s employment with Magnum under the terms of this Agreement shall commence on the Effective Date and shall continue, subject to earlier termination of such employment pursuant to the terms hereof, until (and including) December 31, ___________________(the “Employment Period”). This Agreement shall automatically renew for a period of twenty four (24) months commencing January 1, _____________, and on every twenty four (24) month anniversary of January 1, _______ thereafter unless one of the parties provides written notice of intent to terminate not less than sixty (60) days prior to January 1, __________ or any such twenty four (24) month anniversary thereafter; provided, however, that Cedar Fair shall have the right to terminate this Agreement at any time, subject to the obligations to provide the benefits and make the payments provided herein. The term of Executive’s employment, as set forth herein and as it may be extended pursuant to this Section 1, is hereinafter referred to as the “Employment Period”.

In the event Executive continues in employment after the expiration of the Employment Period and has not entered into a New Agreement (as defined in Section 6.3) as of the expiration of the Employment Period, such employment shall be “at will” employment and may be terminated at any time by either party on written notice. Executive’s at will employment will remain subject to Sections 8 and 9 of this Agreement (and any defined terms set forth in this Agreement referenced

Exhibit 10.1

in such sections shall continue to apply); however, no other provisions of this Agreement will remain in effect.

2.     Duties. During the Employment Period, Executive shall serve on a full-time basis and perform services in a capacity and in a manner consistent with Executive’s position for the Company. Executive shall have the title of ___________________________________ commencing as of the Effective Date and shall have such duties, authorities and responsibilities as are consistent with such position, and as the CEO and Board may designate from time to time while the Executive serves as the ____________________ of the Company. Executive will report directly to the CEO and the Board; Executive shall devote substantially all of Executive’s business time and attention and Executive’s best efforts (excepting vacation time, holidays, sick days and periods of disability) to Executive’s employment and service with the Company; provided, that this Section 2 shall not be interpreted as prohibiting Executive from (i) managing Executive’s personal investments (so long as such investment activities are of a passive nature), (ii) engaging in charitable or civic activities, (iii) participating on boards of directors or similar bodies of non-profit organizations, or (iv) subject to approval by the Board in its sole discretion, participating on boards of directors or similar bodies of for-profit organizations, in each case, so long as such activities in the aggregate do not (a) materially interfere with the performance of Executive’s duties and responsibilities hereunder, (b) create a fiduciary conflict, or (c) with respect to (ii), (iii), and (iv) only, detrimentally affect the Company’s reputation as reasonably determined by the Company in good faith. If requested, Executive shall also serve as an executive officer and/or member of the board of directors of any entity that directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, Cedar Fair, L.P. (an “Affiliate”) without additional compensation.

3.    Location of Employment. Executive’s principal place of employment shall be at the Company’s corporate office, currently located in ____________________, subject to reasonable business travel consistent with Executive’s duties and responsibilities.

4.    Compensation.

4.1    Base Salary.

(a)In consideration of all services rendered by Executive under this Agreement, the Company shall pay Executive a base salary (the “Base Salary”) at an annual rate of $___________________during the Employment Period. Executive’s Base Salary will be reviewed from time to time (but will not decrease, except in the event of an across the board reduction applicable to substantially all senior executives of the Company).

(b)The Base Salary shall be paid in such installments and at such times as the Company pays its regularly salaried employees and shall be subject to all required withholding taxes, including income, FICA, and Medicare contributions, and similar deductions.

4.2    Incentive Compensation. During the Employment Period, Executive will be eligible to participate in one or more of Cedar Fair’s cash incentive compensation plans and equity incentive plans (awards or compensation under any such plans being referred to as “Incentive Compensation”) including the Company’s 2008 Omnibus Incentive Plan (or any successor thereto (the “Company Omnibus Plan”) at a level appropriate to Executive’s position

Exhibit 10.1

and performance, as solely determined by the Board. Any cash incentive (‘Annual Cash Incentive”) payable to Executive for a calendar year shall be paid to Executive at the same time that other senior executives of the Company receive bonus payments, but in no event later than March 15 of the calendar year following the end of the calendar year to which such Annual Cash Incentive relates. Executive shall not be paid any Annual Cash Incentive with respect to a calendar year unless Executive is employed with the Company on the last day of the calendar year to which such Annual Cash Incentive relates, except as otherwise set forth in Section 6 hereof.

Any Equity award shall be subject to the terms and conditions set forth in the Company Omnibus Plan and an applicable award agreement entered into thereunder, which shall not be inconsistent with the Plan or this Agreement, and to approval of such grant by the Board; providedthat upon the occurrence of a Change in Control, Executive shall become immediately vested in any equity award granted to Executive pursuant to the Company Omnibus Plan, in each case, then held by the Executive as of the date of such Change in Control provided furtherthat any equity awards conditioned upon performance criteria, goals or objectives that so vest upon a Change in Control shall be, payable at the level specified in the Company Omnibus Plan or an applicable award agreement or as specified in connection with the grant, where applicable.

4.3    Vacation. Executive shall be entitled to annual paid vacation days, which shall accrue and be useable by Executive in accordance with Company policy, as may be in effect from time to time.

4.4    Benefits. During the Employment Period, Executive shall be entitled to participate in any benefit and compensation plans, including but not limited to medical, disability, and life insurance 401K and deferred compensation plans (but excluding any severance or bonus plans unless specifically referenced in this Agreement) offered by the Company as in effect from time to time (collectively, “Benefit Plans”), on the same basis as those generally made available to other senior executives of the Company (other than the CEO), to the extent Executive may be eligible to do so under the terms of any such Benefit Plan; Executive understands that any such Benefit Plans may be terminated or amended from time to time by the Company in its sole discretion.

4.5    Business Expenses. During the Employment Period reasonable travel, entertainment, and other business expenses incurred by Executive in the performance of his duties hereunder shall be reimbursed by Cedar Fair in accordance with Cedar Fair’s policies as in effect from time to time.

4.6    Clawback. Executive agrees that the Board may, in appropriate circumstances, require reimbursement of any Incentive Compensation paid or granted to Executive within the preceding twenty four months where: (1) the payment was predicated upon achieving certain financial results that were subsequently the subject of a substantial restatement of Company financial statements filed with the Securities and Exchange Commission; and (2) the Board determines Executive engaged in intentional misconduct that caused or substantially caused the need for the substantial restatement; and (3) a lower payment would have been made to the Executive based upon the restated financial results. In each such instance, the Company will, to the extent practicable, seek to recover from Executive the amount by which Executive’s

Exhibit 10.1

Incentive Compensation for the relevant period exceeded the lower payment that would have been made based on the restated financial results and Executive shall be liable to repay the same.

5.    Termination. Executive’s employment hereunder may be terminated as follows:

5.1    Automatically in the event of the death of Executive;

5.2    At the option of the Company, by written notice to Executive or Executive’s personal representative in the event of the Disability of Executive. As used herein, the term “Disability” shall mean a physical or mental incapacity or disability which has rendered, or is likely to render, Executive unable to perform Executive’s material duties for a period of either (i) one hundred eighty (180) days in any twelve- (12-) month period or (ii) ninety (90) consecutive days, as determined by a medical physician selected by the Company;

5.3    At the option of the Company for Cause (as defined in Section 6.5), on prior written notice to Executive;

5.4    At the option of the Company, but subject to ten (10) days prior written notice to Executive, at any time without Cause (provided that the assignment of this Agreement to and assumption of this Agreement by the purchaser of all or substantially all of the assets of the Company shall not be treated as a termination without Cause under this Section 5.4);

5.5    At the option of Executive for Good Reason (as provided inSection 6.5); or

5.6    At the option of Executive for any or no reason, on sixty (60) days prior written notice to the Company (which the Company may, in its sole discretion, make effective as a resignation earlier than the termination date provided in such notice), subject to Section 6.6 to the extent applicable.

6.    Severance Payments.

6.1    Termination Without Cause, Disability or Resignation for Good Reason. If Executive’s employment is terminated at any time during the Employment Period by the Company without Cause (and not for death) or pursuant to Section 5.2 (Disability) or by Executive for Good Reason (as defined in Section 6.5), subject to Section 6.6 and Section 12.7 , Executive shall be entitled to:

(c)within thirty (30) days following such termination, (i) payment of Executive’s accrued and unpaid Base Salary, (ii) reimbursement of expenses under Section 7 hereof and (iii) payment for accrued and unused vacation days, in each case accrued as of the date of termination;

(b) an amount equal to one (1) times Executive’s Base Salary payable at the same time Base Salary would be paid over the twelve- (12) month period following termination if Executive had remained employed with the Company; provided that,subject to Section 6.6 and

Exhibit 10.1

12.7, the first payment shall be made on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination. The first payment shall include payment of any amounts that would otherwise be due prior thereto. To the extent any such termination of employment occurs during the twenty-four- (24) month period following a Change in Control such amount shall be two and one-half (2-1/2) times annual “Cash Compensation” for the year preceding the calendar year in which the Change in Control of Cedar Fair occurred, less one United States dollar (US $1.00); and payment shall be made in a lump sum on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination; provided further that to the extent any such termination of employment occurs pursuant to Section 5.2 (Disability), monetary payments actually received by the Executive from a bona fide short-term or long-term disability plan maintained by the Company shall be used to reduce any payment made by the Company pursuant to this provision on a dollar for dollar basis; provided that: (i) the disability plan payments qualify as “disability pay” under Treasury Regulation Section 31.3121(v)(2)-1(b)(4)(iv)(C) (ii) such reduction does not otherwise affect the time of payment of such Base Salary or the provision of benefits; (iii) the disability plan covers a substantial number of employees and, was in effect before Executive became Disabled; and (iv) any subsequent amendment of such plan or any change in the benefits payable under such plan results from actions taken by an independent third party or, if taken by Cedar Fair, that they are generally applicable to a substantial number of other employees.

c)    any Annual Cash Incentive earned with respect to a calendar year ending on or prior to the date of such termination of employment but unpaid as of such date, shall be payable at the same time such payment would be made if Executive continued to be employed by the Company:

(d)    a pro-rata portion of Executive’s Annual Cash Incentive for the calendar year in which Executive’s termination of employment occurs (determined by multiplying the amount of such Annual Cash Incentive, which would be due for the full calendar year by a fraction, the numerator of which is the number of days during the calendar year of termination that Executive is employed with the Company and the denominator of which is 365 based on actual performance and payable at the same time that other senior executives of the Company receive bonus payments in respect of the calendar year in which such termination occurs, but in no event later than March 15 of the calendar year following the end of the calendar year to which such Annual Cash Incentive relates; provided, that to the extent Executive's Annual Cash Incentive for the calendar year in which Executive's termination occurs (i) is intended to be "qualified performance-based compensation" (within the meaning of Section 162(m) of the Code (as defined in Section 12.7)), any qualitative performance criteria applicable to such bonus relating to the potential application of "negative discretion" in respect of such bonus shall be deemed satisfied in full and (ii) is not intended to be "qualified performance-based compensation" (within the meaning of Section 162(m) of the Code), any qualitative performance criteria applicable to such bonus shall be deemed satisfied in full;

(e) subject to Executive’s timely election of continuation coverage under the under Part 6 of Title I of the Employee Retirement Income Security Act of 1974, as amended, and Section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”), the Company shall pay to Executive each month an after-tax amount equal to the monthly amount of the COBRA continuation coverage premium under the Company’s group medical plans as in effect from time

Exhibit 10.1

to time, less the amount of Executive’s portion of the premium as if Executive were an active employee until the earliest of: (i) twelve (12) months after the date of Executive’s termination of employment; (ii) the date Executive is no longer eligible for benefits under COBRA; or (iii) the date Executive obtains other employment that offers medical benefits, provided that the first payment of any amount described in this Section 6.1(e) shall be paid following Executive’s termination of employment as described in Section 6.6 or Section 12.7 and shall include any amounts due prior thereto; provided, further, that to the extent any such termination occurs during the twenty-four- (24-) month period following a Change in Control, Executive shall have the right to continue medical and dental insurance coverage during the thirty- (30-) month period after the date of such termination pursuant to COBRA, and from the Executive’s termination of employment date through the end of such thirty- (30-) month period Executive shall be required to pay the full cost of the amount for such coverage (both employee and employer) on an after-tax basis and, if permitted under applicable law, as determined in good faith by Cedar Fair, Cedar Fair shall reimburse Executive for the payments on a monthly basis; and

(f) if such termination is the result of a Termination Without Cause or Resignation for Good Reason, then, subject to Executive executing a general release of all claims as set forth in Section 6.6, Executive shall become fully vested in any equity awards made under the Company’s Omnibus Incentive Plan (or any successor plan), whether such grants were made prior to or following the Effective Date, that are scheduled to vest within the eighteen month period following Executive’s date of termination. Other than as set forth below in the context of options, Executive shall receive payments on the Payment Date as provided in the applicable award agreement as if the Executive were employed by the Company on the relevant Payment Date. All such equity awards shall be paid or vest pursuant to the terms of the original award agreements, but without regard to any continuing employment requirements or proration. Options that vest within the eighteen month post termination period will terminate thirty (30) calendar days after the vesting date unless exercised by the Executive. Equity awards made under the Company’s Omnibus Incentive Plan (or any successor plan), that are scheduled to vest (in whole or in part) after the eighteen month period following Executive’s date of termination as described above under this paragraph (f), shall vest and be paid only in accordance with the terms of the applicable award and the terms of the Omnibus Incentive Plan (or any successor plan).

(g) Facility of Payments in the Event of Death After Termination of Employment. Severance payments (made by reason of terminations without Cause, for Disability, Resignation for Good Reason, and after a Change in Control) which have not yet commenced (i.e., because of the six month waiting period), or which have commenced, but are unpaid at death of Executive (i.e., during months six to twelve months after termination), will be paid to Executive’s designated beneficiary or legal representative, as applicable; and,

(h) Other Accrued Amounts. All other accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans, programs or policies (other than severance).

6.2    Termination due to Death. Upon the termination of Executive’s employment due to Executive’s death pursuant to Section 5.1, subject to Section 6.6 hereof, Executive or Executive’s legal representatives shall be entitled to receive the payments and benefits described

Exhibit 10.1

under Sections 6.1(a), (c), (d),and (h) hereof. In addition subject to Executive’s spouse and eligible dependents timely election of continuation coverage under the COBRA, the Company shall pay to Executive’s spouse and eligible dependents each month an after-tax amount equal to the monthly amount of the COBRA continuation coverage premium under the Company’s group medical plans as in effect from time to time, less the amount of Executive’s portion of the premium as if Executive were an active employee for a period of up to twelve (12) months after the date of Executive’s death, if permitted under applicable law as determined in good faith by Cedar Fair.

6.3    Company Non-renewal Following Expiration of Employment Period.

(a) If Executive submits timely notice of his intent not to renew as provided under Section 1, his employment with the Company will terminate immediately following the expiration of the Employment Period and Executive will be entitled only to those benefits or payments provided under Section 6.1(a), (c) and (h)or pursuant to relevant law or plan provisions.

(b) If the Company submits timely notice of its intent not to renew as provided under Section 1and Executive chooses to terminate his employment immediately following the Employment Period, subject to Section 6.6 and Section 12.7 hereof, Executive shall be entitled to receive the payments and benefits described under Sections 6.1(a), (b) (c), (e), (f),(g) & (h); providedthat, subject to Section 6.6 and Section 12.7, the first payment shall be made on the next regularly scheduled payroll date following the sixtieth (60th) day after Executive’s termination and shall include payment of any amounts that would otherwise be due prior thereto.

(c) If the Executive continues his employment without a New Agreement following the expiration of the Employment Period, such employment will be at will consistent with Section 1.

6.4    Termination for Any Other Reason. Upon the termination of Executive’s employment for any reason not otherwise covered in Sections 6.1, 6.2 and 6.3 hereof, Executive or Executive’s legal representatives shall be entitled to receive the payments and benefits described under Sections 6.1(a), (c), and (h) hereof.

6.5    Certain Definitions. For purposes of this Agreement,

(a)    “Cause” shall mean:

(i)Executive’s willful and continued failure to perform his duties hereunder or to follow the lawful direction of the CEO or the Board or a material breach of fiduciary duty after written notice specifying the failure or breach;

(ii)theft, fraud, or dishonesty with regard to the Company or in connection with Executive’s duties;

(iii)Executive’s indictment for, conviction of (or pleading guilty or nolo contendere to) a felony or any lesser offense involving fraud, or moral turpitude;

(iv)material violation of the Company’s Code of Conduct or similar written policies after written notice specifying the failure or breach;

Exhibit 10.1

(v)willful misconduct unrelated to the Company having, or likely to have, a material negative impact on the Company (economically or its reputation) after written notice specifying the failure or breach;

(vi)an act of gross negligence or willful misconduct by the Executive that relates to the affairs of the Company;

(vii)material breach by Executive of any provisions of this Agreement;

(viii)a final, non-appealable determination by a court or other governmental body of competent jurisdiction that a material violation by the Executive of federal or state securities laws has occurred; or

(ix)as provided in Section 12.1 hereof.

(b)    “Change in Control” shall mean a “change in the ownership” of the Company, a “change in effective control” of the Company, or a “change in the ownership of a substantial portion of the assets” of the Company under Treasury Regulations § 1.409A-3(i)(5), or any successor provision.

(c)    “Good Reason” shall mean, without Executive’s express consent:

(i)    any material diminution in Executive’s responsibilities, authorities or duties;

(ii)    any material reduction in (x) Executive’s Base Salary or (y) target Incentive Compensation opportunity (except in the event of an across the board reduction in Base Salary or Incentive Compensation opportunity applicable to substantially all senior executives of the Company);

(iii)    a forced relocation of Executive’s place of employment by the greater of seventy (70) miles or, if greater, the distance constituting a “material change in the geographic location” of Executive’s place of employment within the meaning of Code Section 409A (as defined in Section 12.7); or

(iv)    a material breach of this Agreement by the Company;

provided, however, that no event described in clause (i), (ii), or (iii) shall constitute Good Reason unless (A) Executive has given the Company written notice of the termination, setting forth the conduct of the Company that is alleged to constitute Good Reason, within sixty (60) days of the first date on which Executive has knowledge of such conduct, and (B) Executive has provided the Company at least thirty (30) days following the date on which such notice is provided to cure such conduct and the Company has failed to do so. Failing such cure, a termination of employment by Executive for Good Reason shall be effective on the day following the expiration of such cure period.

(d)“Noncompetition Period” shall mean during Executive’s employment and during the twelve- (12-) month period following such termination of employment regardless of

Exhibit 10.1

reason, plus during any additional period in which Executive receives severance payments from the Company pursuant to Section 6.1(b) or 6.1(f) hereof.

(e)“Cash Compensation” shall mean, with respect to any calendar year, as (i) the total salary payable in such calendar year, (ii) the target Annual Cash Incentive compensation with respect to such calendar year, notwithstanding the fact that a portion of such bonuses may be paid to the Executive by March 15 of the following calendar year in compliance with the short-term deferral rule under Code Section 409A (as defined in Section 12.7), and (iii) respect to any multi-year cash bonuses, the amount actually paid in such calendar year. For the avoidance of doubt, the term Cash Compensation does not include payments or benefits to the Executive under any employee benefit or fringe benefit plan, program, or arrangement or awards or payments under the Cedar Fair, L.P. Amended and Restated Senior Management Long-Term Incentive Compensation Plan, the Cedar Fair, L.P. Amended and Restated 2000 Equity Incentive Plan, or the Cedar Fair, L.P. Amended and Restated Supplemental Retirement Program, as such plans, programs, or arrangements currently exist or are hereafter amended.

6.6 Conditions to Payment. All payments and benefits due to Executive under this Section 6 which are not otherwise required by law shall be payable only if Executive (or Executive’s beneficiary or estate) delivers to the Company and does not revoke (under the terms of applicable law) a general release of all claims in the form attached hereto as Exhibit A, providedthat if necessary, such general release may be updated and revised to comply with applicable law to achieve its intent. Such general release shall be executed and delivered (and no longer subject to revocation) within sixty (60) days following termination andprovided further that if the sixty- (60-) day period begins in one calendar year and ends in a second calendar year, payments shall always be made in the second calendar year. Failure to timely execute and return such release or revocation thereof shall be a waiver by Executive of Executive’s right to severance (which, for the avoidance of doubt, shall not include any amounts described inSections 6.1(a), (c) and (h) hereof). In addition, severance shall be conditioned on Executive’s compliance with Section 8 hereof as provided in Section 9 below.

6.7No Other Severance. Executive hereby acknowledges and agrees that, other than the severance payments described in this Section 6, upon termination of employment Executive shall not be entitled to any other severance under any Company benefit plan or severance policy generally available to the Company’s employees or otherwise.

7.    Reimbursement of Expenses. Subject to Section 6.6 and Section 12.7, the Company shall reimburse Executive for reasonable and necessary expenses actually incurred by Executive directly in connection with the business and affairs of the Company and the performance of Executive’s duties hereunder upon presentation of proper receipts or other proof of expenditure and in accordance with the guidelines and limitations established by the Company under the Company’s Travel and Entertainment Policy as in effect from time to time; provided, that Executive shall present all such proper receipts or other proof of expenditure promptly following the date the expense was incurred, but in no event later than one week after the date the expense was incurred, and reimbursement shall be made promptly thereafter.  When traveling for Company business, Executive shall be subject to Company travel policies, including, without limitation, the Company’s Travel and Entertainment Policy, in effect from time to time.

Exhibit 10.1

8.    Restrictions on Activities of Executive.

8.1    Confidentiality

(a)    Executive acknowledges that it is the policy of the Company to maintain as secret and confidential all “Confidential Information” (as defined herein). The parties hereto recognize that the services to be performed by Executive pursuant to this Agreement are special and unique, and that by reason of his employment by the Company after the Effective Date, Executive will acquire, or may have acquired, Confidential Information. Executive recognizes that all such Confidential Information is and shall remain the sole property of the Company, free of any rights of Executive, and acknowledges that the Company has a vested interest in assuring that all such Confidential Information remains secret and confidential. Therefore, in consideration of Executive’s employment with the Company pursuant to this Agreement, Executive agrees that at all times from and after the Effective Date, he will not, directly or indirectly, disclose to any person, firm, company or other entity (other than the Company) any Confidential Information, except as specifically required in the performance of his duties hereunder, without the prior written consent of the Company, except to the extent that (i) any such Confidential Information becomes generally available to the public, other than as a result of a breach by Executive of this Section 8.1 or by any other executive officer of the Company subject to confidentiality obligations, or (ii) any such Confidential Information becomes available to Executive on a non-confidential basis from a source other than the Company, or its executive officers or advisors; provided, that such source is not known by Executive to be bound by a confidentiality agreement with, or other obligation of secrecy to, the Company or another party. In addition, it shall not be a breach of the confidentiality obligations hereof if Executive is required by law to disclose any Confidential Information; provided, that in such case, Executive shall (x) give the Company the earliest notice possible that such disclosure is or may be required and (y) cooperate with the Company, at the Company’s expense, in protecting to the maximum extent legally permitted, the confidential or proprietary nature of the Confidential Information which must be so disclosed. The obligations of Executive under this Section 8.1 shall survive any termination of this Agreement. During the Employment Period Executive shall exercise all due and diligent precautions to protect the integrity of the business plans, customer lists, statistical data and compilation, agreements, contracts, manuals or other documents of the Company which embody the Confidential Information, and upon the expiration or the termination of the Employment Period, Executive agrees that all Confidential Information in his possession, directly or indirectly, that is in writing or other tangible form (together with all duplicates thereof) will forthwith be returned to the Company and will not be retained by Executive or furnished to any person, either by sample, facsimile film, audio or video cassette, electronic data, verbal communication or any other means of communication. Executive agrees that the provisions of this Section 8.1 are reasonably necessary to protect the proprietary rights of the Company in the Confidential Information and its trade secrets, goodwill and reputation.

(b)    For purposes hereof, the term “Confidential Information” means all information developed or used by the Company relating to the “Business” (as herein defined), operations, employees, customers, suppliers and distributors of the Company, including, but not limited to, customer lists, purchase orders, financial data, pricing information and price lists, business plans and market strategies and arrangements and any strategic plan, all books, records, manuals, advertising materials, catalogues, correspondence, mailing lists, production data, sales

Exhibit 10.1

materials and records, purchasing materials and records, personnel records, quality control records and procedures included in or relating to the Business or any of the assets of the Company and all trademarks, copyrights and patents, and applications therefore, all trade secrets, inventions, processes, procedures, research records, market surveys and marketing know-how and other technical papers. The term “Confidential Information” also includes any other information heretofore or hereafter acquired by the Company and deemed by it to be confidential. For purposes of this Agreement, the term “Business” shall mean: (i) the business of amusement and water parks; (ii) leisure theme parks; (iii) any other business engaged in or being developed (including production of materials used in the Company’s businesses) by the Company, or being considered by the Company, at the time of Executive’s termination, in each case, to the extent such business is primarily related to the business of amusement and water parks or leisure theme parks; and (iv) any joint venture, partnership or agency arrangements relating to the businesses described in (b)(i) through (iii) above provided that, in determining when an entity is in a “Business”, the Board will not act unreasonably in making such determination.

8.2    Non-Competition.

(a)    Executive agrees that, during the Noncompetition Period, Executive will not:

directly or indirectly, own, manage, operate, control or participate in the ownership, management or control of, or be connected as an officer, employee, partner, consultant, contractor, director, or otherwise with, or have any financial interest in, or aid, consult, advise, or assist anyone else in the conduct of, any entity or business:

(x) in which ten percent (10%) or more of whose annual revenues are derived from a Business as defined above; and

(y) which conducts business in any locality or region of the United States or Ontario, Canada (whether or not such competing entity or business is physically located in the United States or Canada), or any other area where Business is being conducted by the Company on the date Executive’s employment is terminated hereunder or in each and every area where the Company intends to conduct such Business as it expresses such intent in the written strategic plan developed by the Company as of the date Executive’s employment is terminated hereunder; and

(i)either personally or by his agent or by letters, circulars or advertisements, and whether for himself or on behalf of any other person, company, firm or other entity, except in his capacity as an executive of the Company, canvass or solicit, or enter into or effect (or cause or authorize to be solicited, entered into, or effected), directly or indirectly, for or on behalf of himself or any other person, any business relating to the services of the type provided by, or orders for business or services similar to those provided by, the Company from any person, company, firm, or other entity who is, or has at any time within two (2) years prior to the date of such action been, a customer or supplier of the Company; provided that the restrictions of Section 8.2(a)(i)(y) above shall also apply to any person, company, firm, or other

Exhibit 10.1

entity with whom the Company is specifically seeking to develop a relationship as a customer or supplier of the Company at the date of such action.

Notwithstanding the forgoing, Executive’s ownership of securities of a public company engaged in competition with the Company not in excess of five percent (5%) of any class of such securities shall not be considered a breach of the covenants set forth in this Section 8.1(a).

(b)    Executive agrees that, at all times from after the Effective Date, Executive will not, either personally or by his agent or by letters, circulars or advertisements, and whether for himself or on behalf of any other person, company, firm, or other entity, except in his capacity as an executive of the Company:

(i)    seek to persuade any employee of the Company to discontinue his or her status or employment therewith or to become employed in a business or activities likely to be competitive with the Business; or

(ii)solicit or employ any such person at any time within twelve (12) months following the date of cessation of employment of such person with the Company, in any locality or region of the United States or Canada and in each and every other area where the Company conducts its Business;

(iii)

provided; however, that the restrictions set forth in this Section 8.2(b) shall cease upon the expiration of the Noncompetition Period.

8.3    Assignment of Inventions.

(a)    Executive agrees that during employment with the Company, any and all inventions, discoveries, innovations, writings, domain names, improvements, trade secrets, designs, drawings, formulas, business processes, secret processes and know-how, whether or not patentable or a copyright or trademark, which Executive may create, conceive, develop or make, either alone or in conjunction with others and related or in any way connected with the Company’s strategic plans, products, processes or apparatus or the Business (collectively, “Inventions”), shall be fully and promptly disclosed to the Company and shall be the sole and exclusive property of the Company as against Executive or any of Executive’s assignees. Regardless of the status of Executive’s employment by the Company, Executive and Executive’s heirs, assigns and representatives shall promptly assign to the Company any and all right, title and interest in and to such Inventions made during employment with the Company.

(b)    Whether during or after the Employment Period, Executive further agrees to execute and acknowledge all papers and to do, at the Company’s expense, any and all other things necessary for or incident to the applying for, obtaining and maintaining of such letters patent, copyrights, trademarks or other intellectual property rights, as the case may be, and to execute, on request, all papers necessary to assign and transfer such Inventions, copyrights, patents, patent applications and other intellectual property rights to the Company and its successors and assigns. In the event that the Company is unable, after reasonable efforts and, in any event, after ten (10) business days, to secure Executive’s signature on a written assignment to the Company, of any application for letters patent, trademark registration or to any common law or statutory copyright or other property right therein, whether because of Executive’s

Exhibit 10.1

physical or mental incapacity, or for any other reason whatsoever, Executive irrevocably designates and appoints the Secretary of the Company as Executive’s attorney‑in‑fact to act on Executive’s behalf to execute and file any such applications and to do all lawfully permitted acts to further the prosecution or issuance of such assignments, letters patent, copyright or trademark.

8.4    Return of Company Property. Within ten (10) days following the date of any termination of Executive’s employment, Executive or Executive’s personal representative shall return all property of the Company in Executive’s possession, including but not limited to all Company-owned computer equipment (hardware and software), telephones, facsimile machines, smart phones, cell phones, tablet computer and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies (including drafts) of any documentation or information (however stored) relating to the Business, the Company’s customers and clients or its prospective customers and clients. Anything to the contrary notwithstanding, Executive shall be entitled to retain (i) personal papers and other materials of a personal nature, provided that such papers or materials do not include Confidential Information, (ii) information showing Executive’s compensation or relating to reimbursement of expenses, and (iii) copies of plans, programs and agreements relating to Executive’s employment, or termination thereof, with the Company which he received in Executive’s capacity as a participant.

8.5    Resignation as an Officer and Director. Upon any termination of Executive’s employment, Executive shall be deemed to have resigned, to the extent applicable as an officer of the Company, a member of the board of directors or similar body of any of Cedar Fair, L.P.’s Affiliates and as a fiduciary of any Company benefit plan. On or immediately following the date of any termination of Executive’s employment, Executive shall confirm the foregoing by submitting to the Company in writing a confirmation of Executive’s resignation(s).

8.6    Cooperation. During and following the Employment Period, Executive shall give Executive’s assistance and cooperation willingly, upon reasonable advance notice (which shall include due regard to the extent reasonably feasible for Executive’s employment obligations and prior commitments), in any matter relating to Executive’s position with the Company, or Executive’s knowledge as a result thereof as the Company may reasonably request, including Executive’s attendance and truthful testimony where deemed appropriate by the Company, with respect to any investigation or the Company’s defense or prosecution of any existing or future claims or litigations or other proceeding relating to matters in which he was involved or had knowledge by virtue of Executive’s employment with the Company. The Company will reimburse Executive for reasonable out-of-pocket travel costs and expenses incurred by him (in accordance with Company policy) as a result of providing such assistance, upon the submission of the appropriate documentation to the Company.

8.7    Non-Disparagement. During his employment with the Company and at any time thereafter, Executive agrees not to disparage or encourage or induce others to disparage the Company, any of its respective employees that were employed during Executive’s employment with the Company or any of its respective past and present, officers, directors, products or services (the “Company Parties”). For purposes of this Section 8.7, the term “disparage” includes, without limitation, comments or statements to the press, to the Company’s employees or to any individual or entity with whom the Company has a business relationship (including,

Exhibit 10.1

without limitation, any vendor, supplier, customer or distributor), or any public statement, that in each case is intended to, or can be reasonably expected to, materially damage any of the Company Parties. Notwithstanding the foregoing, nothing in this Section 8.7 shall prevent Executive from making any truthful statement to the extent, but only to the extent (A) necessary with respect to any litigation, arbitration or mediation involving this Agreement, including, but not limited to, the enforcement of this Agreement, in the forum in which such litigation, arbitration or mediation properly takes place or (B) required by law, legal processor by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent jurisdiction over Executive.

8.8    Tolling. In the event of any violation of the provisions of this Section 8, Executive acknowledges and agrees that the post-termination restrictions contained in this Section 8 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the applicable post-termination restriction period shall be tolled during any period of such violation.

8.9    Survival. This Section 8 and any pertinent definitions of terms contained elsewhere in this Agreement shall survive any termination or expiration of this Agreement or employment of Executive.

9.    Remedies; Scope.

9.1    It is specifically understood and agreed that any breach of the provisions of Section 8 of this Agreement is likely to result in irreparable injury to the Company and that the remedy at law alone will be an inadequate remedy for such breach, and that in addition to any other remedy it may have in the event of a breach or threatened breach of Section 8 above, the Company shall be entitled to enforce the specific performance of this Agreement by Executive and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without bond and without liability should such relief be denied, modified or violated. Furthermore, in the event of any breach of the provisions of Section 8.2 above or a material and willful breach of any other provision in Section 8 above (the “Forfeiture Criteria”), the Company shall be entitled to cease making any severance payments being made hereunder, and in the event of a final, non-appealable determination by a federal or state court of competent jurisdiction that a breach of any provision of Section 8 above has occurred, if such breach of Section 8 above satisfies the Forfeiture Criteria and occurs while Executive is receiving severance payments in accordance with Section 6 above (regardless whether the Company discovers such breach during such period of severance payment or anytime thereafter), the Company shall be entitled to recover any severance payments made to Executive.

9.2    Scope. Executive has carefully considered the nature and extent of the restrictions upon Executive and the rights and remedies conferred upon the Company under Section 8 and Section 9.1, and hereby acknowledges and agrees that the same are reasonable and necessary in time and territory, are intended to eliminate competition which otherwise would be unfair to the Company, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive’s sole means of support, are fully required to protect the business

Exhibit 10.1

interests of the Company, and do not confer a benefit upon the Company disproportionate to the detriment to Executive.

10.    Severable Provisions. The provisions of this Agreement are severable and the invalidity of any one or more provisions shall not affect the validity of any other provision. In the event that a court of competent jurisdiction shall determine that any provision of this Agreement or the application thereof is unenforceable in whole or in part because of the duration or scope thereof, the parties hereto agree that said court in making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary to make it enforceable, and that the Agreement in its reduced form shall be valid and enforceable to the full extent permitted by law.

11.    Notices. All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (a) certified mail, postage and fees prepaid, or (b) nationally recognized overnight express mail service, as follows:

If to the Company: One Cedar Point Drive

Sandusky, Ohio 44870-5259

Attn: General Counsel

If to Executive:     The last address shown on records of the Company

or to such other address as a party may notify the other pursuant to a notice given in accordance with this Section 11.

12.    Miscellaneous.

12.1    Executive Representation. Executive hereby represents to the Company that the execution and delivery of this Agreement by Executive and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, or be prevented, interfered with or hindered by, the terms of any employment agreement or other agreement or policy to which Executive is a party or otherwise bound, and further that Executive is not subject to any limitation on his activities on behalf of the Company as a result of agreements into which Executive has entered except for obligations of confidentiality with former employers. To the extent this representation and warranty is not true and accurate, it shall be treated as a Cause event and the Company may terminate Executive for Cause or not permit Executive to continue employment.

12.2    No Mitigation; Offset.

Exhibit 10.1

(a)    No Mitigation. In the event of any termination of Executive’s employment hereunder, Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement.

(b)    Offset. To the extent that following Executive’s termination of employment with the Company, Executive becomes employed by or provides consultation services to any natural person, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, governmental entity, or other entity or organization (each, a “Person”) during any period, if any, in which the Company may be obligated, pursuant to Section 6.3 of this Agreement, to pay or provide to Executive compensation or benefits following such termination of employment,

(i)    Executive shall immediately notify the Company of any Person for whom Executive works or provides services;

(ii)    Executive shall promptly provide to the Company copies of all pay statements (or similar statements) received from any such Person, or, if no such statements are available, a true, correct and complete description of any payments Executive is receiving; and

(iii)    in addition to any other rights the Company may have pursuant to the terms of this Agreement or otherwise, the Company shall be entitled to offset any compensation or benefits, if any, which the Company may be obligated, pursuant to Section 6.3 of this Agreement, to pay or provide to Executive following such termination of employment by the compensation, consultant’s and/or other fees (excluding any such fees received by Executive in connection with his participation on the board of directors of any Person in which Executive is a member of such Person's board of directors as of immediately prior to his termination of employment with the Company) being paid to Executive during the same period; provided, that any such offset shall, in each case, be applied to the next dollars due to Executive from the Company during the applicable period and provided further that such offset is permitted under Code Section 409A and other applicable law.

12.3    Entire Agreement; Amendment. Except as otherwise expressly provided herein and as further set forth in the grant agreement of any equity awards, this Agreement constitutes the entire Agreement between the parties hereto with regard to the subject matter hereof, superseding all prior understandings, term sheets and agreements, whether written or oral. This Agreement may not be amended or revised except by a writing signed by the parties.

12.4    Assignment and Transfer. The provisions of this Agreement shall be binding on and shall inure to the benefit of the Company and any successor in interest to the Company who acquires all or substantially all of the Company’s assets. Neither this Agreement nor any of the rights, duties or obligations of Executive shall be assignable by Executive, nor shall any of the payments required or permitted to be made to Executive by this Agreement be encumbered, transferred or in any way anticipated, except as required by applicable laws. All rights of Executive under this Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, estates, executors, administrators, heirs and beneficiaries.

Exhibit 10.1

12.5    Waiver of Breach. A waiver by either party of any breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other or subsequent breach by the other party.

12.6    Reporting and Withholding. The Company shall be entitled to report all income and withhold from any amounts to be paid or benefits provided to Executive hereunder any federal, state, local or foreign income tax withholding, FICA contributions, Medicare contributions, or other taxes, charges or deductions which it is from time to time required to withhold or that Executive has authorized the Company to withhold. The Company shall be entitled to rely on an opinion of counsel if any question as to the amount or requirement of any such withholding shall arise.

12.7    Code Section 409A. Notwithstanding anything to the contrary contained in this Agreement:

(a)    The parties agree that this Agreement shall be interpreted to comply with or, to the extent possible, be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. Except to the extent attributable to a breach of this Agreement by the Company, in no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on Executive under Code Section 409A or any damages for failing to comply with Code Section 409A.

(b)    A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits considered “nonqualified deferred compensation” under Code Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” if no exemption or exclusion from Section 409 (A) is determined to apply, such payment or benefit shall not be made or provided until the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive, and (ii) the date of Executive’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 12.7(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum with interest at the prime rate during the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates and in the normal payment forms specified for them herein.

Exhibit 10.1

(c)    With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in any other taxable year, providedthat this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Internal Revenue Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before the last day of Executive’s taxable year following the taxable year in which the expense occurred.

(d)    For purposes of Code Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company, unless provided otherwise herein.

12.8    Arbitration.

(a)    Executive and Cedar Fair agree that, except as provided in Section 12.8(h) below, any dispute, claim, or controversy between them, including without limitation disputes, claims, or controversies arising out of or relating to this Agreement or Executive’s employment with Cedar Fair or the termination of that employment, shall be settled exclusively by final and binding arbitration. Judgment upon the award of the arbitrators may be entered and enforced in any federal or state court having jurisdiction over the parties. Executive and Cedar Fair expressly acknowledge that this agreement to arbitrate applies without limitation to any disputes, claims or controversies between them, including without limitation claims of unlawful discrimination (including without limitation claims under Title VII, the Age Discrimination in Employment Act, the Americans with Disabilities Act and all amendments to those statutes, as well as state anti-discrimination statutes), harassment, whistleblowing, retaliation, wrongful discharge, constructive discharge, claims related to the payment of wages or benefits, contract claims, and tort claims under federal, state, or local law, whether created by statute or the common law. By agreeing to submit any and all claims to arbitration (except as set forth in Section 12.8(h) below), Executive and Cedar Fair expressly waive any right that they may have to resolve any disputes, claims, or controversies through any other means, including a jury trial or bench trial.

(b)    The arbitration shall be conducted by a panel of three (3) arbitrators in accordance with the Employment Arbitration Rules of the American Arbitration Association (“AAA”) except as provided in this Agreement. Within twenty (20) days after notice from one party to the other of the notifying party’s election to arbitrate, each party shall select one (1) arbitrator. Within twenty (20) days after the selection of the two (2) arbitrators by the parties, said arbitrators shall in turn select a third arbitrator. If the two (2) arbitrators cannot agree upon the selection of a third arbitrator, the parties agree that the third arbitrator shall be appointed by the AAA in accordance with AAA’s arbitrator selection procedures, including the provision of a list of potential arbitrators to both parties. Each member of the panel shall be a lawyer admitted to practice law for a minimum of 15 years.

Exhibit 10.1

(c)    Executive and Cedar Fair waive their right to file any arbitration on a class or collective basis; both Executive and Cedar Fair agree to file any arbitration only on an individual basis and agree not to file any arbitration as a representative of any class or group of others. Therefore, neither Executive nor Cedar Fair will seek to certify a class or collective arbitration or otherwise seek to proceed in arbitration on a representative basis, and the arbitrators shall have no authority to conduct a proceeding as a class or collective action or to award any relief to a class of employees. Nor shall Executive or Cedar Fair participate in any class or collective action involving claims covered by this Agreement, but instead shall arbitrate all claims covered by this Agreement on an individual basis.

(d)    The arbitration panel shall have authority to award any remedy or relief that an Ohio or federal court in Ohio could grant in conformity with applicable law on the basis of the claims actually made in the arbitration. The arbitration panel shall not have the authority either to abridge or change substantive rights available under existing law. Notwithstanding the above, any remedy for an alleged breach of the Agreement, wrongful discharge, or constructive discharge, or claims related to compensation and benefits will be governed solely by the applicable provisions of this Agreement, with no right to compensatory, punitive, or equitable relief. Further notwithstanding the foregoing, given the nature of Executive’s position with Cedar Fair, the arbitrator shall not have the authority to order reinstatement, and Executive waives any right to reinstatement to the full extent permitted by law.

(e)    The arbitrator may award attorneys’ fees and costs to the extent authorized by statute. The arbitration panel shall issue a written award listing the issues submitted by the parties, together with a succinct explanation of the manner in which the panel resolved the issues. The costs of the arbitration panel shall be borne by the parties in accordance with the Employment Arbitration Rules of the AAA.

(f)All arbitration proceedings, including the arbitration panel’s decision and award, shall be confidential. Neither party shall disclose any information or evidence adduced by the other in the arbitration proceedings, or the panel’s award except (i) to the extent that the parties agree otherwise in writing; (ii) as necessary in any subsequent proceedings between the parties, such as to enforce the arbitration award; or (iii) as otherwise compelled by law.

(g)The terms of this arbitration Agreement are severable. The invalidity or unenforceability of any provisions herein shall not affect the application of any other provisions. This Agreement to arbitrate shall be governed by the Federal Arbitration Act. The claims, disputes, and controversies submitted to arbitration will be governed by Ohio law and applicable federal law. The arbitrators shall have exclusive jurisdiction to decide questions concerning the interpretation and enforceability of this Agreement to arbitrate, including but not limited to questions of whether the parties have agreed to arbitrate a particular claim, whether a binding contract to arbitrate has been entered into, and whether the Agreement to arbitrate is unconscionable or otherwise unenforceable; provided however, that it is agreed that the arbitrators shall have no authority to decide any questions as to whether the waiver of class and collective actions is valid or enforceable and all questions of the validity or enforceability of the waiver shall be decided by a court, not the arbitrators, and the court shall stay any arbitration that

Exhibit 10.1

purports to proceed as a class or collective action or where the claimant in the arbitration seeks to otherwise act in a representative capacity.

(h) The parties agree and acknowledge that the promises and agreements set forth in Sections 8.1 (Confidentiality) and8.2 (Non-Competition) of this Agreement shall not be subject to the arbitration provisions set forth in this Section 12.8, but rather such claims may be brought in any federal or state court of competent jurisdiction. This Agreement to arbitrate does not apply to claims arising under federal statutes that prohibit pre-dispute arbitration agreements. This Agreement to arbitrate does not preclude Executive from filing a claim or charge with a governmental administrative agency, such as the National Labor Relations Board, the Department of Labor, and the Equal Employment Opportunity Commission, or from filing a workers’ compensation or unemployment compensation claim in a statutorily-specified forum.

12.9Code Section 280G. Anything in this Agreement to the contrary notwithstanding, Executive and Cedar Fair agree that innoevent shall the present value of all payments, distributions and benefits provided to Executive or for Executive’s benefit pursuant to the terms of this Agreement or otherwise which constitute a “parachute payment” when aggregated with other payments, distributions, and benefits which constitute “parachute payments,” exceed two hundred ninety-nine percent (299%) of Executive’s “base amount.” As used herein, “parachute payment” has the meaning ascribed toit in Section 280G(b)(2) of the Code, without regard to Code Section 280G(b)(2)(A)(ii); and “base amount” has the meaning ascribed to it in Code Section 280G and the regulations thereunder. If the “present value” as defined in Code Sections 280G (d) (4) and 1274(b) (2), of such aggregate “parachute payments” exceeds the 299% limitation set forth herein, such payments, distributions and benefits shall be reduced by Cedar Fair in accordance with the order of priority set forth below so that such reduced amount will result in no portion of the payments, distributions and benefits being subject to excise tax. Such payments, distributions and benefits will be reduced by Cedar Fairin accordance with the following order of priority (A) reduction of cash payments; (B) cancellation of accelerated vesting of unit awards; and (C) reduction of employee benefits. If acceleration of vesting of unit award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of the Executive's unit awards.

12.10    Indemnification; Liability Insurance. To the extent provided in the Company’s Code of Regulations and Certificate of Incorporation, the Company shall indemnify Executive for losses or damages incurred by Executive as a result of all causes of action arising from Executive's performance of duties for the benefit of the Company, whether or not the claim is asserted during the Employment Period. Executive shall be provided with the same level of directors and officers liability insurance coverage provided to other directors and officers of the Company on the same terms and conditions applicable to such other directors and officers.

12.11    Governing Law. This Agreement shall be construed under and enforced in accordance with the laws of the State of Ohio, without regard to the conflicts of law provisions thereof.

Exhibit 10.1

12.12    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and shall have the same effect as if the signatures hereto and thereto were on the same instrument.

12.13    Compliance with Dodd-Frank. The Company and the Executive acknowledge and agree that it is the intent of both parties that this Agreement comply with all applicable laws, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act.  In accordance with the foregoing sentence, the Company andExecutive agree to enter into any amendments to this Agreement from time to time, as may be necessary to comply with all applicable laws, including, without limitation, any incentive compensation policy established from time to time by the Company to comply with Dodd-Frank Wall Street Reform and Consumer Protection Act.

[Remainder of Page Intentionally Left Blank]

Exhibit 10.1

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written.

Cedar Fair, L.P.

By:_________________________________

Name:

Title:

Cedar Fair Management, Inc.

By:_________________________________

Name:

Title:

Magnum Management Corp.

By:_________________________________

Name:

Title:

EXECUTIVE

_________________________________

Exhibit 10.1

Exhibit A

RELEASE AGREEMENT

This RELEASE AGREEMENT (this "Agreement") dated ________ ___, _____, is made and entered into by and between Cedar Fair, L.P., a publicly traded Delaware limited partnership, Cedar Fair Management, Inc., an Ohio Corporation (“Cedar Fair Management”), Magnum Management Corporation, an Ohio corporation (“Magnum”) and ________________ (the “Employee”).

WHEREAS, Cedar Fair, L.P. is affiliated with several corporations and partnerships including, without limitation, Cedar Fair Management and Magnum (collectively, “Cedar Fair” or the “Company”);

WHEREAS, the Company and the Employee previously entered into an Employment Agreement dated ____________ (the “Employment Agreement”); and

WHEREAS, the Employee’s employment with Magnum and the Company has terminated effective _______ __, ____.

NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein and in the Employment Agreement, the Company and the Employee agree as follows:

1. General Release and Waiver of Claims.

a.In consideration of Employee’s right to receive the severance payments and benefits set forth in Sections [6.1(b), (d), and (e)]References to be used in connection with a termination without Cause or for Good Reason or as a result of Disability. /[Sections 6.1(d) and the last sentence of 6.2 ]2² References to be used in connection with a termination as a result of death/[Sections 6.1 (e) and 6.3(y)]33 References to be used in connection with a termination as a result of application of Section 6.3. of the Employment Agreement, the Employee, on behalf of himself and his heirs, executors, administrators, trustees, legal representatives, successors and assigns (hereinafter collectively referred to for purposes of this Section 1 as “Employee”), hereby agrees to irrevocably and unconditionally waive, release and forever discharge the Company and its past, present and future affiliates and related entities, parent and subsidiary corporations, divisions, shareholders, predecessors, current, former and future officers, directors, employees, trustees, fiduciaries, administrators, executives, agents, representatives, successors and assigns (collectively, the “Company Released Parties”) from any and all waivable claims, charges, demands, sums of money, actions, rights, promises, agreements, causes of action, obligations and liabilities of any kind or nature whatsoever, at law or in equity, whether known or unknown, existing or contingent, suspected or unsuspected, apparent or concealed, foreign or domestic (hereinafter collectively referred to as “claims”) which he has now or in the future may claim to have against any or all of the Company Released Parties based upon or arising out of any facts, acts, conduct, omissions, transactions, occurrences, contracts, claims, events, causes, matters or things of any conceivable kind or character existing or occurring or claimed to exist or to have occurred prior to the date of the Employee’s execution of this Agreement. Such claims include, without limitation, claims arising under the Age Discrimination in Employment Act, 29 U.S.C. § 621 etseq.; Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e etseq.; the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 etseq.; the Family and Medical Leave Act of 1993, 29 U.S.C. § 2601 etseq.; the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 etseq.; the Equal Pay Act of 1963, 29 U.S.C. § 206(d); Section 806 of the Corporate and Criminal Fraud Accountability Act of 2002, 18 U.S.C. § 1681

^{_________________________________} 

¹ References to be used in connection with a termination without Cause or for Good Reason or as a result of Disability.

² References to be used in connection with a termination as a result of death

3 References to be used in connection with a termination as a result of application of Section 6.3.

Exhibit 10.1

etseq.; the Fair Credit Reporting Act, 15 U.S.C. §1681 etseq.; any other federal, state or local statutory laws relating to employment, discrimination in employment, termination of employment, wages, benefits or otherwise; or any other federal, state or local constitution, statute, rule, or regulation, including, but not limited to, any ordinance addressing fair employment practices; any claims for employment or reemployment by the Company Released Parties; any common law claims, including but not limited to actions in tort, defamation and breach of contract; any claim or damage arising out of Employee’s employment with or separation from the Company Released Parties (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above; and any and all claims for counsel fees and cost.

b.To the fullest extent permitted by law, and subject to the provisions of Section 1.d and 1.e below, Employee represents and affirms that he has not filed or caused to be filed on his behalf any claim for relief against any of the Company Released Parties or any releasee and, to the best of his knowledge and belief, no outstanding claims for relief have been filed or asserted against the Company Released Parties or any releasee on his behalf. In the event Employee has filed or caused to be filed on his behalf any such claim for relief, he shall promptly withdraw and dismiss such claim with prejudice.

c.In waiving and releasing any and all waivable claims whether or not now known, Employee understands that this means that, if he later discovers facts different from or in addition to those facts currently known by him, or believed by him to be true, the waivers and releases of this Agreement will remain effective in all respects - despite such different or additional facts and his later discovery of such facts, even if he would not have agreed to this Agreement if he had prior knowledge of such facts.

d.Nothing in this Section 1, or elsewhere in this Agreement, prevents or prohibits Employee from filing a claim with a government agency, such as the U.S. Equal Employment Opportunity Commission, that is responsible for enforcing a law on behalf of the government. However, Employee understands that, because Employee is waiving and releasing, among other things, any and all claims for monetary damages and any other form of personal relief (per Section 1.a above), Employee may only seek and receive non-monetary forms of relief through any such claim.

e.Nothing in this Section 1, or elsewhere in this Agreement, is intended as, or shall be deemed or operate as, a release by the Employee (i) of any claims for payments to which  the Employee is entitled under the express language of Section 6 of the Employment Agreement, (ii) of any claims for vested benefits (e.g., medical or 401(k) benefits) and (iii) of any right that the Employee had immediately prior to his termination of employment to be indemnified by any Company Released Party or to coverage under any directors and officers insurance policy and any run-off policy thereto.

2. No Admission of Liability. It is understood that nothing in this Agreement is to be construed as an admission on behalf of the Company Released Parties of any wrongdoing with respect to the Employee, any such wrongdoing being expressly denied.

3. Acknowledgement of Waiver and Release of Claims Under ADEA.

a.The Employee acknowledges that, pursuant to Section 1 hereof, he is agreeing to waive and release any claims he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that he is doing so knowingly and voluntarily. The Employee also acknowledges that the consideration given for the ADEA waiver and release under this Agreement is in addition to anything of value to which the Employee was already entitled. The Employee further acknowledges that he has been advised by the Company, as required by the ADEA, that:

i.the ADEA waiver and release contained in this Agreement does not apply to any rights or claims that may arise after the date he signs this Agreement;

Exhibit 10.1

ii.he should consult with an attorney prior to signing this Agreement (although he may choose voluntarily not to do so);

iii.he has twenty-one (21) days within which to consider this Agreement (although he may choose voluntarily to sign it earlier);

iv.he has seven (7) days following the date he signs this Agreement to revoke this Agreement by delivering a written notice of such revocation to [PERSON/ADDRESS]; and

v.this Agreement shall not become effective or enforceable until the first day following the end of the seven-day revocation period; provided that the Employee has signed, returned and not revoked this Agreement in accordance with the terms hereof.

b.Nothing in this Agreement shall prevent the Employee from challenging or seeking a determination in good faith of the validity of the ADEA waiver and release contained in this Agreement, nor does it prevent the Employee from filing a charge with the EEOC to enforce the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law.

4. Miscellaneous.

a.Governing Law. This Agreement will be governed by, and construed in accordance with, the laws of the State of Ohio without giving effect to its conflict of laws principles.

b.Consent to Jurisdiction. Any action by the parties hereto related to this Agreement may be instituted in any state or federal court having proper subject matter jurisdiction located within the State of Ohio, or in any other court in which jurisdiction is otherwise proper. Accordingly, the Company and the Employee irrevocably and unconditionally (a) submit to the jurisdiction of any such court and (b) waive (i) any objection to the laying of venue of any such action brought in such court and (ii) any claim that any such action brought in any such court has been brought in an inconvenient forum.

c.Prior Agreements.  Unless stated otherwise expressly herein, the terms and conditions of the Employment Agreement shall remain in full force and effect.

d.Construction. There shall be no presumption that any ambiguity in this Agreement should be resolved in favor of one party hereto and against another party hereto. Any controversy concerning the construction of this Agreement shall be decided neutrally without regard to authorship.

e.Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed will be deemed to be an original, and such counterparts will, when executed by the parties hereto, together constitute but one agreement. Facsimile and electronic signatures shall be deemed to be the equivalent of manually signed originals.

THE UNDERSIGNED HAVE CAREFULLY READ THE FOREGOING AGREEMENT, KNOW THE CONTENTS THEREOF, FULLY UNDERSTAND IT, AND SIGN THE SAME AS HIS OR ITS OWN FREE ACT.

[Signature page to follow]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day

Exhibit 10.1

and year first set forth above.

Cedar Fair, L.P.

By:_________________________________

Name:

Title:

Cedar Fair Management, Inc.

By:_________________________________

Name:

Title:

Magnum Management Corp.

By:_________________________________

Name:

Title:

EMPLOYEE

_________________________

Signature Page to ____________________ Release Agreement

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Matthew A. Ouimet, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Cedar Fair, L.P.;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 6, 2014	/s/ Matthew A. Ouimet
		Matthew A. Ouimet
		President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Brian C. Witherow, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Cedar Fair, L.P.;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 6, 2014	/s/ Brian C. Witherow
		Brian C. Witherow
		Executive Vice President and Chief Financial Officer

EX-32

Exhibit 32

CERTIFICATIONS PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Cedar Fair, L.P. (the “Partnership”) on Form 10-Q for the period ending September 28, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Partnership certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to our knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

November 6, 2014

/s/ Matthew A. Ouimet

Matthew A. Ouimet

President and Chief Executive Officer

/s/ Brian C. Witherow

Brian C. Witherow

Executive Vice President and

Chief Financial Officer

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

XML

Consolidating Financial Information of Guarantors and Issuers (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended		12 Months Ended					9 Months Ended		12 Months Ended		9 Months Ended		12 Months Ended		9 Months Ended		12 Months Ended		9 Months Ended		12 Months Ended		9 Months Ended		12 Months Ended		9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Jun. 03, 2014 Senior Unsecured Notes [Member] Notes Payable Due 2024 [Domain]	Mar. 31, 2013 Senior Unsecured Notes [Member] Notes Payable Due 2021 [Member] [Domain]	Sep. 28, 2014 Senior Unsecured Notes [Member] Notes Payable Due 2021 and 2024 [Member]	Sep. 28, 2014 Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Cedar Fair L.P. (Parent) [Member]	Sep. 28, 2014 Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Cedar Fair L.P. (Parent) [Member]	Sep. 28, 2014 Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 28, 2014 Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 28, 2014 Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 28, 2014 Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 28, 2014 Guarantor Subsidiaries [Member]	Sep. 29, 2013 Guarantor Subsidiaries [Member]	Sep. 28, 2014 Guarantor Subsidiaries [Member]	Sep. 29, 2013 Guarantor Subsidiaries [Member]	Sep. 28, 2014 Eliminations [Member]	Sep. 29, 2013 Eliminations [Member]	Sep. 28, 2014 Eliminations [Member]	Sep. 29, 2013 Eliminations [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Eliminations [Member]	Sep. 29, 2013 Scenario, Previously Reported [Member] Eliminations [Member]	Sep. 29, 2013 Scenario, Adjustment [Member]	Sep. 29, 2013 Scenario, Adjustment [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Eliminations [Member]	Sep. 29, 2013 Scenario, Adjustment [Member] Eliminations [Member]	Sep. 29, 2013 Scenario, Actual [Member]	Sep. 29, 2013 Scenario, Actual [Member]	Sep. 29, 2013 Scenario, Actual [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Actual [Member] Cedar Fair L.P. (Parent) [Member]	Sep. 29, 2013 Scenario, Actual [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Actual [Member] Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]	Sep. 29, 2013 Scenario, Actual [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Actual [Member] Co-Issuer Subsidiary (Cedar Canada) [Member]	Sep. 29, 2013 Scenario, Actual [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Actual [Member] Guarantor Subsidiaries [Member]	Sep. 29, 2013 Scenario, Actual [Member] Eliminations [Member]	Sep. 29, 2013 Scenario, Actual [Member] Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from operating activities	$ 311,719	$ 316,955	$ 317,997	$ 324,848				$ 122,796	$ 140,022	$ 145,424	$ 212,330	$ 11,832	$ 40,030	$ (4,845)	$ (34,618)	$ 14,637	$ 10,864	$ 16,902	$ 19,455	$ 164,278	$ 139,212	$ 163,482	$ 140,854	$ (1,824)	$ (13,173)	$ (2,966)	$ (13,173)	$ 316,955	$ 324,848	$ 337,821	$ 258,843	$ 60,434	$ 42,367	$ 21,615	$ 32,927	$ 66,757	$ 52,457	$ (169,672)	$ (61,746)													$ 316,955	$ 324,848	$ 140,022	$ 212,330	$ 40,030	$ (34,618)	$ 10,864	$ 19,455	$ 139,212	$ 140,854	$ (13,173)	$ (13,173)
Investment in Joint Venture Operating Activities																																								0	0	(63,105)	24,507	(52,172)	(37,602)	(29,579)	(30,743)	(24,816)	(17,908)	169,672	61,746
Intercompany Receivable	0	0	0	0				0	0	0	0	13,794	41,768	16,049	46,143	0	0	0	0	(77,332)	(55,439)	(77,029)	(60,099)	63,538	13,671	60,980	13,956													0	0	0	0	(41,768)	(46,143)	0	0	55,439	60,099	(13,671)	(13,956)
Intercompany payable	0	0	0	0				100,601	134,695	78,459	71,020	(26,534)	(73,536)	(7,234)	(6,760)	3,486	(5,656)	6,025	(4,098)	(14,015)	(41,832)	(16,270)	(46,206)	(63,538)	(13,671)	(60,980)	(13,956)													0	0	(134,694)	(71,020)	73,536	6,760	5,655	4,098	41,832	46,206	13,671	13,956
Cash Dividend Paid to Parent																																								0	0	0	0	0	0	13,173	13,173	0	0	(13,173)	(13,173)
Net Cash Provided by (Used in) Investing Activities	(135,636)	(82,237)	(158,695)	(86,579)				(55,105)	(43,568)	(67,790)	(47,938)	13,537	41,768	15,792	46,142	(14,394)	(5,517)	(18,851)	(5,532)	(143,212)	(88,591)	(148,826)	(93,207)	63,538	13,671	60,980	13,956	(82,237)	(86,579)	(106,673)	(23,431)	(52,172)	(37,603)	(35,096)	(36,275)	(57,968)	(51,016)	169,672	61,746													(82,237)	(86,579)	(43,568)	(47,938)	41,768	46,142	(5,517)	(5,532)	(88,591)	(93,207)	13,671	13,956
Distributions paid to partners	(117,468)	(104,458)	(156,467)	(126,706)				(119,292)	(107,013)	(159,433)	(129,277)	0	2,555	0	2,571	0	(13,173)	0	(13,173)	0	0	0	0	1,824	13,173	2,966	13,173
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)																																								0	0	63,105	(24,507)	52,172	37,602	29,579	30,743	24,816	17,908	(169,672)	(61,746)
Intercompany Receivable Investing																																								0	0	0	0	41,768	46,143	0	0	(55,439)	(60,099)	13,671	13,956
Debt Instrument, Interest Rate, Stated Percentage					5.375%	5.25%
Subsidiary ownership percentage guaranteeing notes							100.00%
Subsidiary guarantor ownership percentage							100.00%
Net Cash Provided by (Used in) Financing Activities	(104,196)	(130,050)	(152,194)	(150,635)				(18,691)	11,546	(86,634)	(74,392)	(27,319)	(79,949)	(11,046)	(11,494)	17,543	(19,317)	19,770	(17,760)	(14,015)	(41,832)	(16,270)	(46,206)	(61,714)	(498)	(58,014)	(783)	(130,050)	(150,635)	(123,148)	(145,412)	(6,413)	(4,734)	(489)	(489)	0	0	0	0													(130,050)	(150,635)	11,546	(74,392)	(79,949)	(11,494)	(19,317)	(17,760)	(41,832)	(46,206)	(498)	(783)
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries																																								0	0	0	0	0	0	(13,173)	(13,173)		0	13,173	13,173
Intercompany Activity, Net, Financing Activities																																								$ 0	$ 0	$ 134,694	$ 71,020	$ (73,536)	$ (6,760)	$ (5,655)	$ (4,098)	$ (41,832)	$ (46,206)	$ (13,671)	$ (13,956)

XML

Derivative Financial Instruments Income Statement Location (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net				$ 7,800,000		$ 7,800,000
Net effect of swaps	(1,087,000)	1,377,000	(1,031,000)	8,315,000	(2,463,000)	8,141,000
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amortization of Deferred Hedge Gains	2,000,000	2,000,000	6,000,000	4,300,000	7,900,000	4,100,000
Designated As Hedging [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	1,235,000	(5,483,000)	(6,129,000)	(3,217,000)	(4,562,000)	(769,000)
Designated As Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0	(2,797,000)	0	(5,820,000)
Designated As Hedging [Member] | Interest Rate Swap [Member] | Net Effect of Swaps [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Net Hedge Ineffectiveness Gain (Loss)	0	0	0	3,703,000	0	3,703,000
Not Designated As Hedging [Member] | Net Effect of Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative recognized in income	3,073,000	609,000	6,991,000	130,000	10,408,000	130,000
Not Designated As Hedging [Member] | Interest Rate Swap [Member] | Net Effect of Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative recognized in income	$ 3,073,000	$ 609,000		$ 130,000	$ 10,408,000	$ 130,000

XML

Changes in Accumulated Other Comprehensive Income by Component (Tables)

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Changes in accumulated other comprehensive income (loss)

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
							Total
Balance at December 31, 2013		$	(15,013	)	$	5	$	(15,008	)
Other comprehensive income before reclassifications, net of tax $928 and ($1,310), respectively		(5,200		)	2,279		(2,921		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($922) (2)		5,035			—		5,035
Net other comprehensive income		(165		)	2,279		2,114
September 28, 2014		$	(15,178	)	$	2,284	$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at December 31, 2012		$	(25,749	)	$	(2,751	)	$	(28,500	)
Other comprehensive income before reclassifications, net of tax $718 and ($689), respectively		(2,500		)	1,194			(1,306		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,843) (2)		10,303			—			10,303
Net other comprehensive income		7,803			1,194			8,997
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)
Other comprehensive income before reclassifications, net of tax $615 and ($2,208), respectively		(3,946		)	3,841			(105		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,228) (2)		6,714			—			6,714
Net other comprehensive income		2,768			3,841			6,609
September 28, 2014		$	(15,178	)	$	2,284		$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 30, 2012		$	(27,686	)	$	(4,371	)	$	(32,057	)
Other comprehensive income before reclassifications, net of tax $355 and ($1,619), respectively		(416		)	2,814			2,398
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,816) (2)		10,156			—			10,156
Net other comprehensive income		9,740			2,814			12,554
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income (1)
(In thousands)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income																		Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges	3 months ended 9/28/14			3 months ended 9/29/13			9 months ended 9/28/14			9 months ended 9/29/13			12 months ended 9/28/14			12 months ended 9/29/13
Interest rate contracts	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Net effect of swaps
	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Total before tax
	(307		)	(307		)	(922		)	(1,843		)	(1,228		)	(1,816		)	Benefit for taxes
	$	1,678		$	1,679		$	5,035		$	10,303		$	6,714		$	10,156		Net of tax

Reclassification out of accumulated other comprehensive income

Reclassifications Out of Accumulated Other Comprehensive Income (1)
(In thousands)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income																		Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges	3 months ended 9/28/14			3 months ended 9/29/13			9 months ended 9/28/14			9 months ended 9/29/13			12 months ended 9/28/14			12 months ended 9/29/13
Interest rate contracts	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Net effect of swaps
	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Total before tax
	(307		)	(307		)	(922		)	(1,843		)	(1,228		)	(1,816		)	Benefit for taxes
	$	1,678		$	1,679		$	5,035		$	10,303		$	6,714		$	10,156		Net of tax

(1) Amounts in parentheses indicate debits.

XML

Consolidating Financial Information of Guarantors and Issuers Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	$ 311,719	$ 316,955	$ 317,997	$ 324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	0	0	0	0
Proceeds from Sales of Assets, Investing Activities	(1,377)	(15,297)	(1,377)	(30,182)
Capital expenditures	(137,013)	(97,534)	(160,072)	(116,761)
Net cash for investing activities	(135,636)	(82,237)	(158,695)	(86,579)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	0	630,000	0	630,000
Note borrowings	450,000	500,000	450,000	500,000
Note payments, including amounts paid for early termination	(426,148)	0	(426,148)	0
Repayments of Long-term Debt	0	(1,132,675)	(9,575)	(1,132,675)
Distributions paid to partners	(117,468)	(104,458)	(156,467)	(126,706)
Intercompany payable	0	0	0	0
Excess tax benefit from unit-based compensation expense	(785)	(148)	218	1,515
Payments of Debt Issuance Costs	(9,795)	(22,812)	(10,232)	(22,812)
Exercise of limited partnership unit options	0	43	10	43
Net cash for financing activities	(104,196)	(130,050)	(152,194)	(150,635)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(569)	(16)	(1,216)	(254)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	71,318	104,652	5,892	87,380
Balance, beginning of period	118,056	78,830	183,482	96,102
Balance, end of period	189,374	183,482	189,374	183,482
Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	122,796	140,022	145,424	212,330
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	0	0	0	0
Proceeds from Sales of Assets, Investing Activities	0	0	0	0
Capital expenditures	(55,105)	(43,568)	(67,790)	(47,938)
Net cash for investing activities	(55,105)	(43,568)	(67,790)	(47,938)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings		359,022		359,022
Note borrowings	0	294,897	0	294,897
Note payments, including amounts paid for early termination	0		0
Repayments of Long-term Debt		(655,723)	(5,457)	(655,723)
Distributions paid to partners	(119,292)	(107,013)	(159,433)	(129,277)
Intercompany payable	100,601	134,695	78,459	71,020
Excess tax benefit from unit-based compensation expense	0	0	0	0
Payments of Debt Issuance Costs	0	(14,332)	(203)	(14,331)
Exercise of limited partnership unit options		0	0	0
Net cash for financing activities	(18,691)	11,546	(86,634)	(74,392)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	49,000	108,000	(9,000)	90,000
Balance, beginning of period	75,000	25,000	133,000	43,000
Balance, end of period	124,000	133,000	124,000	133,000
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	11,832	40,030	(4,845)	(34,618)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	13,794	41,768	16,049	46,143
Proceeds from Sales of Assets, Investing Activities	0	0	0	0
Capital expenditures	(257)	0	(257)	(1)
Net cash for investing activities	13,537	41,768	15,792	46,142
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings		256,500		256,500
Note borrowings	0	205,103	0	205,103
Note payments, including amounts paid for early termination	0		0
Repayments of Long-term Debt		(462,438)	(3,898)	(462,438)
Distributions paid to partners	0	2,555	0	2,571
Intercompany payable	(26,534)	(73,536)	(7,234)	(6,760)
Excess tax benefit from unit-based compensation expense	(785)	(148)	218	1,515
Payments of Debt Issuance Costs	0	(8,028)	(142)	(8,028)
Exercise of limited partnership unit options		43	10	43
Net cash for financing activities	(27,319)	(79,949)	(11,046)	(11,494)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(1,950)	1,849	(99)	30
Balance, beginning of period	4,144	444	2,293	2,263
Balance, end of period	2,194	2,293	2,194	2,293
Co-Issuer Subsidiary (Cedar Canada) [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	14,637	10,864	16,902	19,455
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	0	0	0	0
Proceeds from Sales of Assets, Investing Activities	0	0	0	0
Capital expenditures	(14,394)	(5,517)	(18,851)	(5,532)
Net cash for investing activities	(14,394)	(5,517)	(18,851)	(5,532)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings		14,478		14,478
Note borrowings	450,000	0	450,000	0
Note payments, including amounts paid for early termination	(426,148)		(426,148)
Repayments of Long-term Debt		(14,514)	(220)	(14,514)
Distributions paid to partners	0	(13,173)	0	(13,173)
Intercompany payable	3,486	(5,656)	6,025	(4,098)
Excess tax benefit from unit-based compensation expense	0	0	0	0
Payments of Debt Issuance Costs	(9,795)	(452)	(9,887)	(453)
Exercise of limited partnership unit options		0	0	0
Net cash for financing activities	17,543	(19,317)	19,770	(17,760)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(569)	(16)	(1,216)	(254)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	17,217	(13,986)	16,605	(4,091)
Balance, beginning of period	35,575	50,173	36,187	40,278
Balance, end of period	52,792	36,187	52,792	36,187
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	164,278	139,212	163,482	140,854
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	(77,332)	(55,439)	(77,029)	(60,099)
Proceeds from Sales of Assets, Investing Activities	(1,377)	(15,297)	(1,377)	(30,182)
Capital expenditures	(67,257)	(48,449)	(73,174)	(63,290)
Net cash for investing activities	(143,212)	(88,591)	(148,826)	(93,207)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings		0		0
Note borrowings	0	0	0	0
Note payments, including amounts paid for early termination	0		0
Repayments of Long-term Debt		0	0	0
Distributions paid to partners	0	0	0	0
Intercompany payable	(14,015)	(41,832)	(16,270)	(46,206)
Excess tax benefit from unit-based compensation expense	0	0	0	0
Payments of Debt Issuance Costs	0	0	0	0
Exercise of limited partnership unit options		0	0	0
Net cash for financing activities	(14,015)	(41,832)	(16,270)	(46,206)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	7,051	8,789	(1,614)	1,441
Balance, beginning of period	3,337	3,213	12,002	10,561
Balance, end of period	10,388	12,002	10,388	12,002
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	(1,824)	(13,173)	(2,966)	(13,173)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany Receivable	63,538	13,671	60,980	13,956
Proceeds from Sales of Assets, Investing Activities	0	0	0	0
Capital expenditures	0	0	0	0
Net cash for investing activities	63,538	13,671	60,980	13,956
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings		0		0
Note borrowings	0	0	0	0
Note payments, including amounts paid for early termination	0		0
Repayments of Long-term Debt		0	0	0
Distributions paid to partners	1,824	13,173	2,966	13,173
Intercompany payable	(63,538)	(13,671)	(60,980)	(13,956)
Excess tax benefit from unit-based compensation expense	0	0	0	0
Payments of Debt Issuance Costs	0	0	0	0
Exercise of limited partnership unit options		0	0	0
Net cash for financing activities	(61,714)	(498)	(58,014)	(783)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	0	0	0	0
Balance, beginning of period	0	0	0	0
Balance, end of period	$ 0	$ 0	$ 0	$ 0

XML

Changes in Accumulated Other Comprehensive Income by Component Changes in AOCI by Component (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				9 Months Ended			12 Months Ended
	Sep. 28, 2014		Sep. 29, 2013		Sep. 28, 2014	Sep. 29, 2013		Sep. 28, 2014	Sep. 29, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	$ (18,595)		$ (16,043)		$ (15,008)	$ (28,500)		$ (19,503)	$ (32,057)
Other comprehensive income before reclassifications	4,023		(5,139)		(2,921)	(1,306)		(105)	2,398
Amounts reclassified from accumulated other comprehensive income	1,678	[1]	1,679	[1]	5,035	10,303	[1]	6,714	10,156
Net current-period other comprehensive income	5,701		(3,460)		2,114	8,997		6,609	12,554
Balance, ending	(12,894)		(19,503)		(12,894)	(19,503)		(12,894)	(19,503)
Other Comprehensive income before reclassification tax effect	(187)		0		928	(326)		615	(745)
Foreign currency translation adjustment, tax	(1,713)		(915)		(1,310)	(1,089)		(2,208)	(1,697)
Provision (benefit) for taxes	(49,403)		(58,025)		(26,340)	(34,026)		(12,557)	(24,030)
Gains and Losses on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	(17,904)		(15,185)		(15,013)	(25,749)		(17,946)	(27,686)
Other comprehensive income before reclassifications	1,048		(4,440)		(5,200)	(2,500)		(3,946)	(416)
Amounts reclassified from accumulated other comprehensive income	1,678	[1]	1,679	[1]	5,035	10,303	[1]	6,714	10,156
Net current-period other comprehensive income	2,726		(2,761)		(165)	7,803		2,768	9,740
Balance, ending	(15,178)		(17,946)		(15,178)	(17,946)		(15,178)	(17,946)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning	(691)		(858)		5	(2,751)		(1,557)	(4,371)
Other comprehensive income before reclassifications	2,975		(699)		2,279	1,194		3,841	2,814
Amounts reclassified from accumulated other comprehensive income	0	[1]	0	[1]	0	0	[1]	0	0
Net current-period other comprehensive income	2,975		(699)		2,279	1,194		3,841	2,814
Balance, ending	2,284		(1,557)		2,284	(1,557)		2,284	(1,557)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Provision (benefit) for taxes	$ (307)		$ (307)		$ (922)	$ (1,843)		$ (1,228)	$ (1,816)

[1] See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

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Significant Accounting and Reporting Policies

9 Months Ended

Sep. 28, 2014

Accounting Policies [Abstract]

Significant Accounting and Reporting Policies

Significant Accounting and Reporting Policies:

The Partnership’s unaudited condensed consolidated financial statements for the periods ended September 28, 2014 and September 29, 2013 included in this Form 10-Q report have been prepared in accordance with the accounting policies described in the Notes to Consolidated Financial Statements for the year ended December 31, 2013, which were included in the Form 10-K filed on February 26, 2014. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the Commission). These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K referred to above.

New Accounting Pronouncements

In February 2013, the FASB issued ASU 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date,” which requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following:

• The amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors.

• Any additional amount the reporting entity expects to pay on behalf of its co-obligors.

The guidance also requires an entity to disclose the nature and amount of the obligation as other information about those obligations. The amendments in the guidance are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, however early adoption is permitted. The Partnership adopted this guidance in the first quarter of 2014 and the December 31, 2013 and September 29, 2013 Unaudited Condensed Consolidating Balance Sheets in Note 12 reflect the effect of the adoption of this guidance.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The amendments in ASU 2014-09 provide for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning on or after December 15, 2016 and will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. It permits the use of either a retrospective or cumulative effect transition method and early adoption is not permitted. The Partnership has not yet selected a transition method and is in the process of evaluating the effect this standard will have on the consolidated financial statements and related disclosures.

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Goodwill and Other Intangible Assets Other Intangible Assets (Details) (USD $)	Sep. 28, 2014	Dec. 31, 2013	Sep. 29, 2013
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Carrying Amount/Value	$ 38,280,000	$ 39,070,000	$ 39,615,000
Accumulated Amortization	413,000	399,000	389,000
Total other intangible assets, gross carrying amount	39,179,000	39,870,000	40,414,000
Total other intangibe assets, net carrying value	38,766,000	39,471,000	40,025,000
Finite-Lived Intangible Assets, Amortization Expense, 2015	75,000
Estimated amortization expense, 2014 (less than $75,000)	75,000
Estimated amortization expense, 2017 (less than $75,000)	75,000
Estimated amortization expense, 2018 (less than $75,000)	75,000
Finite-Lived Intangible Assets, Amortization Expense, 2016	75,000
License / Franchise Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	899,000	800,000	799,000
Accumulated Amortization	413,000	399,000	389,000
Net Carrying Value	$ 486,000	$ 401,000	$ 410,000

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Goodwill and Other Intangible Assets Goodwill (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Goodwill [Roll Forward]
Goodwill (gross), beginning of period	$ 317,957	$ 326,089
Accumulated Impairment Losses, beginning of period	(79,868)	(79,868)
Goodwill (net), beginning of period	238,089	246,221
Foreign currency translation	(5,576)	(4,285)
Goodwill (gross), end of period	312,381	321,804
Accumulated Impairment Losses, end of period	(79,868)	(79,868)
Goodwill (net), end of period	$ 232,513	$ 241,936

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Long-Term Debt (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended	3 Months Ended	9 Months Ended		9 Months Ended		9 Months Ended		9 Months Ended		9 Months Ended			9 Months Ended
	Sep. 28, 2014	Sep. 28, 2014 Notes Payable Due 2024 [Domain] Senior Unsecured Notes [Member]	Sep. 28, 2014 Notes Payable Due 2024 [Domain] Senior Unsecured Notes [Member]	Jun. 03, 2014 Notes Payable Due 2024 [Domain] Senior Unsecured Notes [Member]	Sep. 28, 2014 Notes Payable, Due 2018 [Member] Maximum [Member]	Jul. 30, 2010 Notes Payable, Due 2018 [Member] Senior Unsecured Notes [Member]	Sep. 28, 2014 Notes Payable Due 2021 [Member] [Domain] Senior Unsecured Notes [Member]	Mar. 31, 2013 Notes Payable Due 2021 [Member] [Domain] Senior Unsecured Notes [Member]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain]	Mar. 31, 2013 Credit Agreement 2013 [Member] [Domain]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain] Maximum [Member]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain] Canadian Revolving Credit Facility [Member]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain] Senior Secured Term Loan [Member]	Mar. 31, 2013 Credit Agreement 2013 [Member] [Domain] Senior Secured Term Loan [Member]	Mar. 31, 2013 Credit Agreement 2013 [Member] [Domain] Senior Secured Revolving Credit Facility [Member]	Jul. 30, 2010 Original Issue Discount [Member] Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 450		$ 405		$ 500		$ 885					$ 630	$ 255
Debt Instrument, Periodic Payment														6.3
Debt Instrument, Interest Rate, Stated Percentage				5.375%		9.125%		5.25%
Unamortized discount																	5.6
Effective interest rate percentage																	9.375%
Maximum borrowing capacity												15
Commitment fee on unused portion of credit facilities	0.38%
Interest rate margin over LIBOR													2.25%
Interest rate margin over LIBOR														2.50%
Interest rate LIBOR floor														0.75%
Redemption percentage of original face amount		100.00%					100.00%
Early call date, percentage of notes availabe for redemption			35.00%				35.00%
Early call date, premium price, percentage			105.375%				105.25%
Consolidated leverage ratio requirement									6.00
Consolidated Leverage Ratio Decrease	0.25
Final Consolidated Leverage Ratio	5.25
Consolidated leverage ratio									3.78
Restricted payment					$ 60						$ 60
Pro-forma consolidated leverage ratio									5.00
Total-Indebtedness-to-Consolidated-Cash-Flow Ratio requirement, period of measurement, annual									12 months
Total-Indebtedness-to-Consolidated-Cash-Flow Ratio requirement									5.00
Total-Indebtedness-to-Consolidated-Cash-Flow Ratio requirement, period of measurement, quarterly									3 months

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Derivative Financial Instruments Schedule of Derivatives (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended						3 Months Ended		9 Months Ended		12 Months Ended																	3 Months Ended		9 Months Ended		12 Months Ended						3 Months Ended		9 Months Ended		12 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended		3 Months Ended		9 Months Ended	12 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014 Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 12 [Member]	Sep. 28, 2014 Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 13 [Member]	Sep. 28, 2014 Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 14 [Member]	Sep. 28, 2014 Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 15 [Member]	Sep. 28, 2014 Interest Rate Swap [Member]	Sep. 29, 2013 Interest Rate Swap [Member]	Sep. 28, 2014 Interest Rate Swap [Member]	Sep. 29, 2013 Interest Rate Swap [Member]	Sep. 28, 2014 Interest Rate Swap [Member]	Sep. 29, 2013 Interest Rate Swap [Member]	Sep. 28, 2014 Cash Flow Hedging [Member] Forward-Starting Interest Rate Swap [Member]	Sep. 28, 2014 Cash Flow Hedging [Member] Forward-Starting Interest Rate Swap [Member] 2013 forwards [Member] contract	Sep. 28, 2014 Not Designated As Hedging [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 1 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 2 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 3 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 4 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 5 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 6 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 7 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 8 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 9 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 10 [Member]	Sep. 28, 2014 Not Designated As Hedging [Member] Forward-Starting Interest Rate Swap [Member] Forward Starting Interest Rate Swap 11 [Member]	Sep. 28, 2014 Designated As Hedging [Member]	Sep. 28, 2014 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Mar. 31, 2013 Notes Payable Due 2021 [Member] [Domain] Senior Unsecured Notes [Member]	Mar. 31, 2013 Credit Agreement 2013 [Member] [Domain]	Sep. 28, 2014 Credit Agreement 2013 [Member] [Domain] Senior Secured Term Loan [Member]	Mar. 31, 2013 Credit Agreement 2013 [Member] [Domain] Senior Secured Term Loan [Member]	Sep. 28, 2014 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Interest Expense [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Not Designated As Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Not Designated As Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Not Designated As Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 28, 2014 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]	Sep. 29, 2013 Net Effect of Swaps [Member] Designated As Hedging [Member] Cash Flow Hedging [Member] Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net																																$ 1,235,000	$ (5,483,000)	$ (6,129,000)	$ (3,217,000)	$ (4,562,000)	$ (769,000)
Derivative, Net Hedge Ineffectiveness Gain (Loss)																																																											0	0	0	3,703,000	0	3,703,000
Derivative Instruments, Gain (Loss) Recognized in Income, Net																																																3,073,000	609,000	6,991,000	130,000	10,408,000	130,000	3,073,000	609,000	130,000	10,408,000	130,000
Notional amount							200,000,000	100,000,000	100,000,000	100,000,000									800,000,000	200,000,000	150,000,000	75,000,000	70,000,000	50,000,000	50,000,000	50,000,000	50,000,000	50,000,000	30,000,000	25,000,000	500,000,000
Fixed interest rate							3.00%	3.00%	2.996%	2.70%										2.27%	2.427%	2.298%	2.54%	2.54%	2.54%	2.427%	2.293%	2.293%	2.54%	2.298%	2.94%
Average rate																		2.94%	2.38375%
Debt Instrument, Face Amount																																						500,000,000	885,000,000		630,000,000
Net effect of swaps	1,087,000	(1,377,000)	1,031,000	(8,315,000)	2,463,000	(8,141,000)
Derivative, amount of hedged item																		500,000,000
Debt Instrument, Interest Rate, Stated Percentage																																						5.25%
Number of derivative instruments																		4
Debt instrument, LIBOR floor, decrease to percent	1.00%		1.00%		1.00%
Debt instrument, LIBOR floor, decrease from percent	1.50%		1.50%		1.50%
Interest rate LIBOR floor																																								0.75%
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax																	7,800,000
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net				7,800,000		7,800,000
Amortization of Deferred Hedge Gains											2,000,000	2,000,000	6,000,000	4,300,000	7,900,000	4,100,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net																																										0	0	0	(2,797,000)	0	(5,820,000)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net																			$ 7,800,000												$ 0

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Basis of Presentation

9 Months Ended

Sep. 28, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared from the financial records of Cedar Fair, L.P. (the Partnership) without audit and reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to fairly present the results of the interim periods covered in this report.

Due to the highly seasonal nature of the Partnership’s amusement and water park operations, the results for any interim period are not indicative of the results to be expected for the full fiscal year. Accordingly, the Partnership has elected to present financial information regarding operations and cash flows for the preceding fiscal twelve-month periods ended September 28, 2014 and September 29, 2013 to accompany the quarterly results. Since amounts for the fiscal twelve months ended September 28, 2014 include actual 2013 season operating results, they may not be indicative of 2014 full calendar year operations.

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Derivative Financial Instruments Balance Sheet Location (Details) (USD $)	Sep. 28, 2014	Dec. 31, 2013	Sep. 29, 2013
Derivatives, Fair Value [Line Items]
Derivative Liability	$ (25,802,000)	$ (26,662,000)	$ (31,646,000)
Derivative assets (liabilities), at fair value, net	(25,802,000)	(26,662,000)	(31,646,000)
Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(10,044,000)	(3,916,000)	(5,483,000)
Not Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(15,758,000)	(22,746,000)	(26,163,000)
Interest Rate Swap [Member] | Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	(10,044,000)	(3,916,000)	(5,483,000)
Interest Rate Swap [Member] | Not Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	(15,758,000)	(22,746,000)	(26,163,000)
Cash Flow Hedging [Member] | Forward-Starting Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	$ 7,800,000

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Consolidating Financial Information of Guarantors and Issuers Balance Sheet (Details) (USD $) In Thousands, unless otherwise specified	Sep. 28, 2014	Dec. 31, 2013	Sep. 29, 2013	Dec. 31, 2012	Sep. 30, 2012
Current Assets:
Cash and cash equivalents	$ 189,374	$ 118,056	$ 183,482	$ 78,830	$ 96,102
Receivables	41,262	21,333	42,534
Inventories	30,461	26,080	29,316
Current deferred tax asset	9,675	9,675	8,185
Other current assets	13,985	11,353	9,626
Total current assets	284,757	186,497	273,143
Property and equipment (net)	1,518,131	1,505,763	1,514,674
Investment In Park	0	0	0
Goodwill	232,513	238,089	241,936	246,221
Other intangibes, net	38,766	39,471	40,025
Deferred Tax Asset	0	0	0
Other Assets	42,909	44,807	31,269
Assets	2,117,076	2,014,627	2,101,047
Current Liabilities:
Current maturities of long-term debt	4,600	0	6,300
Accounts payable	21,866	13,222	21,877
Deferred revenue	48,141	44,521	37,627
Accrued interest	12,008	23,201	10,253
Accrued taxes	38,407	19,481	39,393
Accrued salaries, wages and benefits	42,139	29,200	39,621
Self-insurance reserves	23,931	23,653	24,088
Other accrued liabilities	8,392	5,521	7,618
Total current liabilities	199,484	158,799	186,777
Deferred Tax Liability	157,389	158,113	157,603
Derivative Liability	25,802	26,662	31,646
Other Liabilities	16,595	11,290	9,073
Long-Term Debt:
Term debt	614,250	618,850	622,125
Notes	950,000	901,782	901,606
Total long-term debt	1,564,250	1,520,632	1,523,731
Equity	153,556	139,131	192,217
Total Partners' Equity and Liabilities	2,117,076	2,014,627	2,101,047
Cedar Fair L.P. (Parent) [Member]
Current Assets:
Cash and cash equivalents	124,000	75,000	133,000	25,000	43,000
Receivables	11	6	12
Inventories	0	0	0
Current deferred tax asset	0	0	0
Other current assets	1,084	599	995
Total current assets	125,095	75,605	134,007
Property and equipment (net)	459,332	447,724	450,205
Investment In Park	560,750	514,948	548,241
Goodwill	9,061	9,061	9,061
Other intangibes, net	0	0	0
Deferred Tax Asset	0	0	0
Other Assets	11,147	25,210	13,196
Assets	1,165,385	1,072,548	1,154,710
Current Liabilities:
Current maturities of long-term debt	2,621		3,590
Accounts payable	340,850	259,850	281,983
Deferred revenue	0	0	0
Accrued interest	2,579	4,637	2,677
Accrued taxes	5,255	4,609	5,413
Accrued salaries, wages and benefits	0	0	1
Self-insurance reserves	0	0	0
Other accrued liabilities	446	1,146	991
Total current liabilities	351,751	270,242	294,655
Deferred Tax Liability	0	0	0
Derivative Liability	15,115	15,610	18,407
Other Liabilities	20	0	0
Long-Term Debt:
Term debt	350,046	352,668	354,534
Notes	294,897	294,897	294,897
Total long-term debt	644,943	647,565	649,431
Equity	153,556	139,131	192,217
Total Partners' Equity and Liabilities	1,165,385	1,072,548	1,154,710
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Current Assets:
Cash and cash equivalents	2,194	4,144	2,293	444	2,263
Receivables	131,297	115,972	124,478
Inventories	3,147	1,968	1,578
Current deferred tax asset	5,430	5,430	3,708
Other current assets	5,863	4,443	3,558
Total current assets	147,931	131,957	135,615
Property and equipment (net)	8,105	976	985
Investment In Park	837,800	796,735	824,356
Goodwill	0	0	0
Other intangibes, net	0	0	0
Deferred Tax Asset	29,935	31,122	30,316
Other Assets	21,071	10,002	9,031
Assets	1,044,842	970,792	1,000,303
Current Liabilities:
Current maturities of long-term debt	1,873		2,565
Accounts payable	208,763	188,818	159,781
Deferred revenue	0	0	0
Accrued interest	1,552	3,223	1,593
Accrued taxes	6,534	0	29,386
Accrued salaries, wages and benefits	29,505	21,596	27,622
Self-insurance reserves	5,797	5,757	5,545
Other accrued liabilities	5,388	2,993	4,077
Total current liabilities	259,412	222,387	230,569
Deferred Tax Liability	0	0	0
Derivative Liability	10,687	11,052	13,239
Other Liabilities	4,688	7,858	5,573
Long-Term Debt:
Term debt	250,088	251,961	253,294
Notes	205,103	205,103	205,103
Total long-term debt	455,191	457,064	458,397
Equity	314,864	272,431	292,525
Total Partners' Equity and Liabilities	1,044,842	970,792	1,000,303
Co-Issuer Subsidiary (Cedar Canada) [Member]
Current Assets:
Cash and cash equivalents	52,792	35,575	36,187	50,173	40,278
Receivables	88,605	67,829	70,303
Inventories	1,833	1,898	2,090
Current deferred tax asset	800	800	816
Other current assets	14,219	14,266	1,275
Total current assets	158,249	120,368	110,671
Property and equipment (net)	230,723	243,208	248,484
Investment In Park	163,809	142,668	143,548
Goodwill	112,234	117,810	121,657
Other intangibes, net	15,911	16,683	17,228
Deferred Tax Asset	0	0	0
Other Assets	8,587	6,657	6,902
Assets	689,513	647,394	648,490
Current Liabilities:
Current maturities of long-term debt	106		145
Accounts payable	22,485	17,632	7,802
Deferred revenue	4,682	2,815	1,951
Accrued interest	7,877	15,341	5,983
Accrued taxes	0	0	0
Accrued salaries, wages and benefits	1,962	1,101	2,154
Self-insurance reserves	1,747	1,742	1,896
Other accrued liabilities	693	181	694
Total current liabilities	39,552	38,812	20,625
Deferred Tax Liability	55,676	57,704	61,143
Derivative Liability	0	0	0
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	14,116	14,221	14,297
Notes	450,000	401,782	401,606
Total long-term debt	464,116	416,003	415,903
Equity	130,169	134,875	150,819
Total Partners' Equity and Liabilities	689,513	647,394	648,490
Guarantor Subsidiaries [Member]
Current Assets:
Cash and cash equivalents	10,388	3,337	12,002	3,213	10,561
Receivables	651,998	552,633	589,797
Inventories	25,481	22,214	25,648
Current deferred tax asset	3,445	3,445	3,661
Other current assets	5,847	7,764	3,798
Total current assets	697,159	589,393	634,906
Property and equipment (net)	819,971	813,855	815,000
Investment In Park	60,788	63,948	81,719
Goodwill	111,218	111,218	111,218
Other intangibes, net	22,855	22,788	22,797
Deferred Tax Asset	0	117	90
Other Assets	2,104	2,938	2,140
Assets	1,714,095	1,604,257	1,667,870
Current Liabilities:
Current maturities of long-term debt	0		0
Accounts payable	280,417	262,029	314,367
Deferred revenue	43,459	41,706	35,676
Accrued interest	0	0	0
Accrued taxes	39,646	30,591	4,594
Accrued salaries, wages and benefits	10,672	6,503	9,844
Self-insurance reserves	16,387	16,154	16,647
Other accrued liabilities	1,865	1,201	1,856
Total current liabilities	392,446	358,184	382,984
Deferred Tax Liability	131,648	131,648	126,866
Derivative Liability	0	0	0
Other Liabilities	11,887	3,432	3,500
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Equity	1,178,114	1,110,993	1,154,520
Total Partners' Equity and Liabilities	1,714,095	1,604,257	1,667,870
Eliminations [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0	0
Receivables	(830,649)	(715,107)	(742,056)
Inventories	0	0	0
Current deferred tax asset	0	0	0
Other current assets	(13,028)	(15,719)	0
Total current assets	(843,677)	(730,826)	(742,056)
Property and equipment (net)	0	0	0
Investment In Park	(1,623,147)	(1,518,299)	(1,597,864)
Goodwill	0	0	0
Other intangibes, net	0	0	0
Deferred Tax Asset	(29,935)	(31,239)	(30,406)
Other Assets	0	0	0
Assets	(2,496,759)	(2,280,364)	(2,370,326)
Current Liabilities:
Current maturities of long-term debt	0		0
Accounts payable	(830,649)	(715,107)	(742,056)
Deferred revenue	0	0	0
Accrued interest	0	0	0
Accrued taxes	(13,028)	(15,719)	0
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0	0	0
Other accrued liabilities	0	0	0
Total current liabilities	(843,677)	(730,826)	(742,056)
Deferred Tax Liability	(29,935)	(31,239)	(30,406)
Derivative Liability	0	0	0
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Equity	(1,623,147)	(1,518,299)	(1,597,864)
Total Partners' Equity and Liabilities	$ (2,496,759)	$ (2,280,364)	$ (2,370,326)

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Unaudited Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 28, 2014	Dec. 31, 2013	Sep. 29, 2013
Current Assets:
Cash and cash equivalents	$ 189,374	$ 118,056	$ 183,482
Receivables	41,262	21,333	42,534
Inventories	30,461	26,080	29,316
Current deferred tax asset	9,675	9,675	8,185
Other current assets	13,985	11,353	9,626
Total current assets	284,757	186,497	273,143
Property and Equipment:
Land	279,350	283,313	298,589
Land improvements	372,145	350,869	351,731
Buildings	607,065	584,659	584,066
Rides and equipment	1,562,070	1,494,112	1,506,895
Construction in progress	39,058	44,550	18,990
Total property and equipment, gross	2,859,688	2,757,503	2,760,271
Less accumulated depreciation	(1,341,557)	(1,251,740)	(1,245,597)
Total property and equipment, net	1,518,131	1,505,763	1,514,674
Goodwill	232,513	238,089	241,936
Other Intangibes, net	38,766	39,471	40,025
Other Assets	42,909	44,807	31,269
Assets	2,117,076	2,014,627	2,101,047
Current Liabilities:
Current maturities of long-term debt	4,600	0	6,300
Accounts payable	21,866	13,222	21,877
Deferred revenue	48,141	44,521	37,627
Accrued interest	12,008	23,201	10,253
Accrued taxes	38,407	19,481	39,393
Accrued salaries, wages and benefits	42,139	29,200	39,621
Self-insurance reserves	23,931	23,653	24,088
Other accrued liabilities	8,392	5,521	7,618
Total current liabilities	199,484	158,799	186,777
Deferred Tax Liability	157,389	158,113	157,603
Derivative Liability	25,802	26,662	31,646
Other Liabilities	16,595	11,290	9,073
Long-Term Debt:
Term debt	614,250	618,850	622,125
Notes	950,000	901,782	901,606
Total long-term debt	1,564,250	1,520,632	1,523,731
Commitments and Contingencies
Partners' Equity:
Special L.P. interests	5,290	5,290	5,290
General partner	3	2	2
Limited partners, 55,863, 55,716 and 55,714 units outstanding at September 28, 2014, December 31, 2013 and September 29, 2013, respectively	161,157	148,847	206,428
Accumulated other comprehensive loss	(12,894)	(15,008)	(19,503)
Total partners' equity	153,556	139,131	192,217
Total Partners' Equity and Liabilities	$ 2,117,076	$ 2,014,627	$ 2,101,047

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Unaudited Condensed Consolidated Statement of Partners' Equity (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 28, 2014	Sep. 28, 2014	Sep. 28, 2014
Foreign currency translation adjustment, tax	$ (1,713)	$ (1,310)	$ (2,208)
Unrealized loss on cash flow hedging derivatives, tax		$ 6
Partnership distribution declared, amount per limited partnership unit	$ 2.1	$ 2.1	$ 2.1

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Earnings per Unit (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Basic weighted average units outstanding	55,439	55,485	55,448	55,472	55,458	55,460
Effect of dilutive units:
Unit options and restricted unit awards	336	189	317	146	290	120
Phantom units	80	189	90	185	116	224
Diluted weighted average units outstanding	55,855	55,863	55,855	55,803	55,864	55,804
Net income (loss) per limited partner unit - basic	$ 2.92	$ 3.43	$ 2.21	$ 2.32	$ 1.84	$ 2.13
Net income (loss) per limited partner unit - diluted	$ 2.90	$ 3.41	$ 2.19	$ 2.31	$ 1.82	$ 2.12

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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 28, 2014

Derivative [Line Items]

Fair value of derivative instruments in Condensed Consolidated Balance Sheet

Fair Value of Derivative Instruments and the Classification in Condensed Consolidated Balance Sheet:

(In thousands)	Condensed Consolidated Balance Sheet Location	Fair Value as of			Fair Value as of			Fair Value as of
		September 28, 2014			December 31, 2013			September 29, 2013
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(10,044	)	$	(3,916	)	$	(5,483	)
Total derivatives designated as hedging instruments		$	(10,044	)	$	(3,916	)	$	(5,483	)
Derivatives not designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(15,758	)	$	(22,746	)	$	(26,163	)
Total derivatives not designated as hedging instruments		$	(15,758	)	$	(22,746	)	$	(26,163	)
Net derivative liability		$	(25,802	)	$	(26,662	)	$	(31,646	)

Effects of derivative instruments on income (loss) and other comprehensive income (loss)

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the three-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)

Amount of Gain (Loss) Recognized in  Accumulated OCI on Derivatives (Effective Portion)

Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)

Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)

Derivatives designated as Cash Flow Hedging Relationships

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

9/28/14

9/29/13

9/28/14

9/29/13

9/28/14

9/29/13

Interest rate swaps

$

1,235

$

(5,483

)

Interest Expense

$

—

$

—

Net effect of swaps

$

—

$

—

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Three months ended		Three months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	3,073	$	609
		$	3,073	$	609

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the twelve-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Twelve months ended			Twelve months ended				Twelve months ended		Twelve months ended				Twelve months ended		Twelve months ended
	9/28/14			9/29/13				9/28/14		9/29/13				9/28/14		9/29/13
Interest rate swaps	$	(4,562	)	$	(769	)	Interest Expense	$	—	$	(5,820	)	Net effect of swaps	$	—	$	3,703

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Twelve months ended		Twelve months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	10,408	$	130
		$	10,408	$	130

Forward Starting Interest Rate Swap [Member]

Derivative [Line Items]

Derivative instruments, notional amounts outstanding and interest rates

The following table presents our derivative portfolio along with their notional amounts and their fixed interest rates as of September 28, 2014.

	Interest Rate Swaps
($'s in thousands)	Derivatives designated as hedging instruments				Derivatives not designated as hedging instruments
	Notional Amounts		LIBOR Rate		Notional Amounts		LIBOR Rate
	$	200,000	3.00	%	$	200,000	2.27	%
	100,000		3.00	%	150,000		2.43	%
	100,000		3.00	%	75,000		2.30	%
	100,000		2.70	%	70,000		2.54	%
					50,000		2.54	%
					50,000		2.54	%
					50,000		2.43	%
					50,000		2.29	%
					50,000		2.29	%
					30,000		2.54	%
					25,000		2.30	%
Total $'s / Average Rate	$	500,000	2.94	%	$	800,000	2.38	%

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Income and Partnership Taxes Unrecognized Tax Position (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 28, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefit	$ 1.1

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Earnings per Unit (Tables)

9 Months Ended

Sep. 28, 2014

Earnings Per Unit [Abstract]

Net income (loss) per limited partner unit

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended				Twelve months ended
	9/28/2014		9/29/2013		9/28/2014		9/29/2013		9/28/2014		9/29/2013
	(In thousands except per unit amounts)
Basic weighted average units outstanding	55,439		55,485		55,448		55,472		55,458		55,460
Effect of dilutive units:
Unit options and restricted unit awards	336		189		317		146		290		120
Phantom units	80		189		90		185		116		224
Diluted weighted average units outstanding	55,855		55,863		55,855		55,803		55,864		55,804
Net income per unit - basic	$	2.92	$	3.43	$	2.21	$	2.32	$	1.84	$	2.13
Net income per unit - diluted	$	2.90	$	3.41	$	2.19	$	2.31	$	1.82	$	2.12

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Unaudited Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
CASH FLOWS FROM (FOR) OPERATING ACTIVITIES
Net income	$ 122,264	$ 128,688	$ 101,780	$ 118,363
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	109,525	108,313	123,699	122,408
Loss on early debt extinguishment	29,027	34,573	29,027	34,573
Loss on impairment / retirement of fixed assets, net	2,687	2,266	2,960	8,372
Gain on sale of other assets	(921)	(8,743)	(921)	(15,368)
Net effect of swaps	(1,031)	8,315	(2,463)	8,141
Non-cash expense	33,167	23,875	52,093	32,245
Net change in working capital	10,546	16,031	8,510	(6,769)
Net change in other assets/liabilities	6,455	3,637	3,312	22,883
Net cash from operating activities	311,719	316,955	317,997	324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Sale of other assets	1,377	15,297	1,377	30,182
Capital expenditures	(137,013)	(97,534)	(160,072)	(116,761)
Net cash for investing activities	(135,636)	(82,237)	(158,695)	(86,579)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	0	630,000	0	630,000
Note borrowings	450,000	500,000	450,000	500,000
Term debt payments, including amounts paid for early termination	0	(1,132,675)	(9,575)	(1,132,675)
Note payments, including amounts paid for early termination	(426,148)	0	(426,148)	0
Distributions paid to partners	(117,468)	(104,458)	(156,467)	(126,706)
Exercise of limited partnership unit options	0	43	10	43
Payment of debt issuance costs	(9,795)	(22,812)	(10,232)	(22,812)
Excess tax benefit from unit-based compensation expense	(785)	(148)	218	1,515
Net cash for financing activities	(104,196)	(130,050)	(152,194)	(150,635)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(569)	(16)	(1,216)	(254)
CASH AND CASH EQUIVALENTS
Net increase for the period	71,318	104,652	5,892	87,380
Balance, beginning of period	118,056	78,830	183,482	96,102
Balance, end of period	189,374	183,482	189,374	183,482
SUPPLEMENTAL INFORMATION
Cash payments for interest expense	80,203	78,852	92,185	94,717
Interest capitalized	1,167	1,175	2,008	1,406
Cash payments for income taxes, net of refunds	$ 10,283	$ 11,746	$ 13,359	$ 4,768

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Unaudited Condensed Consolidated Balance Sheets (Parenthetical) In Thousands, unless otherwise specified	Sep. 28, 2014	Dec. 31, 2013	Sep. 29, 2013
Limited partners, units outstanding	55,863	55,716	55,714

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Income and Partnership Taxes

9 Months Ended

Sep. 28, 2014

Effective Income Tax Rate Reconciliation, Amount [Abstract]

Income and Partnership Taxes

Income and Partnership Taxes:

Under the applicable accounting rules, income taxes are recognized for the amount of taxes payable by the Partnership’s corporate subsidiaries for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. The income tax provision (benefit) for interim periods is determined by applying an estimated annual effective tax rate to the quarterly income (loss) of the Partnership’s corporate subsidiaries. In addition to income taxes on its corporate subsidiaries, the Partnership pays a publicly traded partnership tax (PTP tax) on partnership-level gross income (net revenues less cost of food, merchandise and games). As such, the Partnership’s total provision (benefit) for taxes includes amounts for both the PTP tax and for income taxes on its corporate subsidiaries.

As of the third quarter of 2014 the Partnership has recorded $1.1 million of unrecognized tax benefits including interest and/or penalties related to state and local tax filing positions. The Partnership recognizes interest and/or penalties related to unrecognized tax benefits in the income tax provision. The Partnership does not anticipate that the balance of the unrecognized tax benefit will change significantly over the next 12 months.

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Document and Entity Information	9 Months Ended
	Sep. 28, 2014	Nov. 01, 2014
DEI [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 28, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Entity Registrant Name	CEDAR FAIR L P
Entity Central Index Key	0000811532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		0
Entity Unit, Units Outstanding		55,862,834

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Contingencies

9 Months Ended

Sep. 28, 2014

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Contingencies:

The Partnership is a party to a number of lawsuits arising in the normal course of business. In the opinion of management, none of these matters is expected to have a material effect in the aggregate on the Partnership's financial statements.

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Unaudited Condensed Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Net revenues:
Admissions	$ 340,101	$ 339,655	$ 566,126	$ 562,214	$ 650,919	$ 641,140
Food, merchandise and games	184,038	180,408	322,025	316,940	361,190	353,951
Accommodations and other	71,179	72,013	110,647	116,341	125,766	129,609
Total net revenues	595,318	592,076	998,798	995,495	1,137,875	1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	46,812	45,843	82,887	81,933	92,726	93,055
Operating expenses	178,649	170,394	406,191	388,335	490,200	458,906
Selling, general and administrative	57,205	58,727	125,226	125,533	152,105	148,356
Depreciation and amortization	58,244	57,495	109,525	108,313	123,699	122,408
Gain on sale of other assets	0	(8,743)	(921)	(8,743)	(921)	(15,368)
Loss on impairment / retirement of fixed assets, net	1,475	1,637	2,687	2,266	2,960	8,372
Total costs and expenses	342,385	325,353	725,595	697,637	860,769	815,729
Operating income	252,933	266,723	273,203	297,858	277,106	308,971
Interest expense	21,462	25,529	74,101	77,153	100,019	103,870
Net effect of swaps	(1,087)	1,377	(1,031)	8,315	(2,463)	8,141
Loss on early debt extinguishment	(246)	0	29,027	34,573	29,027	34,573
Unrealized/realized foreign currency (gain) loss	21,515	(8,615)	22,597	15,229	36,309	20,157
Other income	(16)	(17)	(95)	(126)	(123)	(163)
Income before taxes	211,305	248,449	148,604	162,714	114,337	142,393
Provision for taxes	49,403	58,025	26,340	34,026	12,557	24,030
Net income	161,902	190,424	122,264	128,688	101,780	118,363
Net income allocated to general partner	2	2	1	1	1	1
Net income allocated to limited partners	161,900	190,422	122,263	128,687	101,779	118,362
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975	(699)	2,279	1,194	3,841	2,814
Unrealized income (loss) on cash flow hedging derivatives	2,726	(2,761)	(165)	7,803	2,768	9,740
Other comprehensive income (loss), (net of tax)	5,701	(3,460)	2,114	8,997	6,609	12,554
Total comprehensive income	$ 167,603	$ 186,964	$ 124,378	$ 137,685	$ 108,389	$ 130,917
Basic earnings per limited partner unit:
Weighted average limited partner units outstanding	55,439	55,485	55,448	55,472	55,458	55,460
Net income per limited partner unit	$ 2.92	$ 3.43	$ 2.21	$ 2.32	$ 1.84	$ 2.13
Diluted earnings per limited partner unit:
Weighted average limited partner units outstanding	55,855	55,863	55,855	55,803	55,864	55,804
Net income per limited partner unit	$ 2.90	$ 3.41	$ 2.19	$ 2.31	$ 1.82	$ 2.12

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Goodwill and Other Intangible Assets

9 Months Ended

Sep. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets:

In accordance with the applicable accounting rules, goodwill is not amortized, but, along with indefinite-lived trade-names, is evaluated for impairment on an annual basis or more frequently if indicators of impairment exist. As of September 28, 2014, there were no indicators of impairment. The Partnership's annual testing date is December 31.

The Partnership tested goodwill and other indefinite-lived intangibles for impairment on December 31, 2013 and no impairment was indicated.

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 28, 2014 and September 29, 2013 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2012	$	326,089		$	(79,868	)	$	246,221
Foreign currency translation	(4,285		)	—			(4,285		)
Balance at September 29, 2013	$	321,804		$	(79,868	)	$	241,936
Balance at December 31, 2013	$	317,957		$	(79,868	)	$	238,089
Foreign currency translation	(5,576		)	—			(5,576		)
Balance at September 28, 2014	$	312,381		$	(79,868	)	$	232,513

At September 28, 2014, December 31, 2013, and September 29, 2013 the Partnership’s other intangible assets consisted of the following:

September 28, 2014	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
(In thousands)
Other intangible assets:
Trade names	$	38,280	$	—	$	38,280
License / franchise agreements	899		413		486
Total other intangible assets	$	39,179	$	413	$	38,766
December 31, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,070	$	—	$	39,070
License / franchise agreements	800		399		401
Total other intangible assets	$	39,870	$	399	$	39,471
September 29, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,615	$	—	$	39,615
License / franchise agreements	799		389		410
Total other intangible assets	$	40,414	$	389	$	40,025

Estimated amortization expense is expected to total less than $75,000 in each year from 2014 through 2018.

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Long-Lived Assets

9 Months Ended

Sep. 28, 2014

Impairment or Disposal of Tangible Assets Disclosure [Abstract]

Long-Lived Assets

Long-Lived Assets:

Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that would indicate that the carrying value of the assets may not be recoverable. In order to determine if an asset has been impaired, assets are grouped and tested at the lowest level for which identifiable, independent cash flows are available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in equity price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on our consolidated financial statements.

The long-lived operating asset impairment test involves a two-step process. The first step is a comparison of each asset group's carrying value to its estimated undiscounted future cash flows expected to result from the use of the assets, including disposition. Projected future cash flows reflect management's best estimates of economic and market conditions over the projected period, including growth rates in revenues and costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates and future estimates of capital expenditures. If the carrying value of the asset group is higher than its undiscounted future cash flows, there is an indication that impairment exists and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of the asset group to its carrying value in a manner consistent with the highest and best use of those assets.

The Partnership estimates fair value of operating assets using an income, market, and/or cost approach. The income approach uses an asset group's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital reflective of current market conditions. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The cost approach is based on the amount currently required to replace the service capacity of an asset adjusted for obsolescence. If the implied fair value of the assets is less than their carrying value, an impairment charge is recorded for the difference.

Non-operating assets are evaluated for impairment based on changes in market conditions. When changes in market conditions are observed, impairment is estimated using a market-based approach. If the estimated fair value of the non-operating assets is less than their carrying value, an impairment charge is recorded for the difference.

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 28, 2014

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

The table below presents the balances of assets and liabilities measured at fair value as of September 28, 2014, December 31, 2013, and September 29, 2013 on a recurring basis:

	Total			Level 1		Level 2			Level 3
September 28, 2014
(In thousands)
Interest rate swap agreements (1)	$	(10,044	)	$	—	$	(10,044	)	$	—
Interest rate swap agreements (2)	(15,758		)	—		(15,758		)	—
Net derivative liability	$	(25,802	)	$	—	$	(25,802	)	$	—
December 31, 2013
Interest rate swap agreements (1)	$	(3,916	)	$	—	$	(3,916	)	$	—
Interest rate swap agreements (2)	$	(22,746	)	$	—	$	(22,746	)	$	—
Net derivative liability	$	(26,662	)	$	—	$	(26,662	)	$	—
September 29, 2013
Interest rate swap agreements (1)	$	(5,483	)	$	—	$	(5,483	)	$	—
Interest rate swap agreements (2)	$	(26,163	)	$	—	$	(26,163	)	$	—
Net derivative liability	$	(31,646	)	$	—	$	(31,646	)	$	—

(1) Designated as cash flow hedges and are included in “Derivative Liability” on the Unaudited Condensed Consolidated Balance Sheet

(2) Not designated as cash flow hedges and are included in "Derivative Liability" on the Unaudited Condensed Consolidated Balance Sheet

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Changes in Accumulated Other Comprehensive Income by Component

9 Months Ended

Sep. 28, 2014

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income by Component

Changes in Accumulated Other Comprehensive Income (Loss) by Component:

The following tables reflect the changes in Accumulated Other Comprehensive Income (Loss) related to limited partners' equity for the three-, nine-, and twelve-month periods ended September 28, 2014 and September 29, 2013:

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at June 29, 2014		$	(17,904	)	$	(691	)	$	(18,595	)
Other comprehensive income before reclassifications, net of tax ($187) and ($1,713), respectively		1,048			2,975			4,023
Amounts reclassified from accumulated other comprehensive income, net of tax ($307) (2)		1,678			—			1,678
Net other comprehensive income		2,726			2,975			5,701
September 28, 2014		$	(15,178	)	$	2,284		$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at June 30, 2013		$	(15,185	)	$	(858	)	$	(16,043	)
Other comprehensive income before reclassifications, net of tax ($1,044) and $401, respectively		(4,440		)	(699		)	(5,139		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($307) (2)		1,679			—			1,679
Net other comprehensive income		(2,761		)	(699		)	(3,460		)
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
							Total
Balance at December 31, 2013		$	(15,013	)	$	5	$	(15,008	)
Other comprehensive income before reclassifications, net of tax $928 and ($1,310), respectively		(5,200		)	2,279		(2,921		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($922) (2)		5,035			—		5,035
Net other comprehensive income		(165		)	2,279		2,114
September 28, 2014		$	(15,178	)	$	2,284	$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at December 31, 2012		$	(25,749	)	$	(2,751	)	$	(28,500	)
Other comprehensive income before reclassifications, net of tax $718 and ($689), respectively		(2,500		)	1,194			(1,306		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,843) (2)		10,303			—			10,303
Net other comprehensive income		7,803			1,194			8,997
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)
Other comprehensive income before reclassifications, net of tax $615 and ($2,208), respectively		(3,946		)	3,841			(105		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,228) (2)		6,714			—			6,714
Net other comprehensive income		2,768			3,841			6,609
September 28, 2014		$	(15,178	)	$	2,284		$	(12,894	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

	Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)
		Gains and Losses
		on Cash Flow Hedges			Foreign Currency Items
								Total
Balance at September 30, 2012		$	(27,686	)	$	(4,371	)	$	(32,057	)
Other comprehensive income before reclassifications, net of tax $355 and ($1,619), respectively		(416		)	2,814			2,398
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,816) (2)		10,156			—			10,156
Net other comprehensive income		9,740			2,814			12,554
September 29, 2013		$	(17,946	)	$	(1,557	)	$	(19,503	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income (1)
(In thousands)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income																		Affected Line Item in the Statement Where Net Income is Presented
Gains and losses on cash flow hedges	3 months ended 9/28/14			3 months ended 9/29/13			9 months ended 9/28/14			9 months ended 9/29/13			12 months ended 9/28/14			12 months ended 9/29/13
Interest rate contracts	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Net effect of swaps
	$	1,985		$	1,986		$	5,957		$	12,146		$	7,942		$	11,972		Total before tax
	(307		)	(307		)	(922		)	(1,843		)	(1,228		)	(1,816		)	Benefit for taxes
	$	1,678		$	1,679		$	5,035		$	10,303		$	6,714		$	10,156		Net of tax

(1) Amounts in parentheses indicate debits.

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Fair Value Measurements

9 Months Ended

Sep. 28, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements:

The FASB Accounting Standards Codification (ASC) relating to fair value measurements emphasizes that fair value is a market-based measurement that should be determined based on assumptions (inputs) that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable, and valuation techniques used to measure fair value should maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Accordingly, the FASB’s ASC establishes a hierarchal disclosure framework that ranks the quality and reliability of information used to determine fair values. The hierarchy is associated with the level of pricing observability utilized in measuring fair value and defines three levels of inputs to the fair value measurement process—quoted prices are the most reliable valuation inputs, whereas model values that include inputs based on unobservable data are the least reliable. Each fair value measurement must be assigned to a level corresponding to the lowest level input that is significant to the fair value measurement in its entirety.

The three broad levels of inputs defined by the fair value hierarchy are as follows:

• Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The table below presents the balances of assets and liabilities measured at fair value as of September 28, 2014, December 31, 2013, and September 29, 2013 on a recurring basis:

	Total			Level 1		Level 2			Level 3
September 28, 2014
(In thousands)
Interest rate swap agreements (1)	$	(10,044	)	$	—	$	(10,044	)	$	—
Interest rate swap agreements (2)	(15,758		)	—		(15,758		)	—
Net derivative liability	$	(25,802	)	$	—	$	(25,802	)	$	—
December 31, 2013
Interest rate swap agreements (1)	$	(3,916	)	$	—	$	(3,916	)	$	—
Interest rate swap agreements (2)	$	(22,746	)	$	—	$	(22,746	)	$	—
Net derivative liability	$	(26,662	)	$	—	$	(26,662	)	$	—
September 29, 2013
Interest rate swap agreements (1)	$	(5,483	)	$	—	$	(5,483	)	$	—
Interest rate swap agreements (2)	$	(26,163	)	$	—	$	(26,163	)	$	—
Net derivative liability	$	(31,646	)	$	—	$	(31,646	)	$	—

(1) Designated as cash flow hedges and are included in “Derivative Liability” on the Unaudited Condensed Consolidated Balance Sheet

(2) Not designated as cash flow hedges and are included in "Derivative Liability" on the Unaudited Condensed Consolidated Balance Sheet

Fair values of the interest rate swap agreements are determined using significant inputs, including the LIBOR forward curves, which are considered Level 2 observable market inputs. In addition, the Partnership considered the effect of its credit and non-performance risk on the fair values provided, and recognized an adjustment decreasing the net derivative liability by approximately $0.6 million as of September 28, 2014.

The carrying value of cash and cash equivalents, revolver, accounts receivable, accounts payable, and accrued liabilities approximates fair value because of the short maturity of these instruments.

There were no assets measured at fair value on a non-recurring basis at September 28, 2014, December 31, 2013, or September 29, 2013, except for as described below.

The fair value of term debt at September 28, 2014 was approximately $614.2 million based on borrowing rates currently available to the Partnership on long-term debt with similar terms and average maturities. The fair value of the Partnership's notes at September 28, 2014 was approximately $919.5 million based on public trading levels as of that date. The fair value of the term debt and June 2014 notes were based on Level 2 inputs and the March 2013 notes were based on Level 1 inputs.

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Long-Term Debt

9 Months Ended

Sep. 28, 2014

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt:

In June of 2014, the Partnership issued $450 million of 5.375% senior unsecured notes ("June 2014 notes"), maturing in 2024, in a private placement. The net proceeds from the offering of the June 2014 notes were used to redeem in full all of the Partnership’s $405 million of 9.125% senior unsecured notes that were scheduled to mature in 2018 (and which included $5.6 million of Original Issue Discount ("OID") to yield 9.375%), to satisfy and discharge the indenture governing the notes that were redeemed and for general corporate purposes.

The Partnership's June 2014 notes pay interest semi-annually in June and December, with the principal due in full on June 1, 2024. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to June 1, 2017, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.375% together with accrued and unpaid interest.

In March 2013, the Partnership issued $500 million of 5.25% senior unsecured notes ("March 2013 notes"), maturing in 2021, in a private placement. Concurrently with this offering, the Partnership entered into a new $885 million credit agreement (the "2013 Credit Agreement"), which included a $630 million senior secured term loan facility and a $255 million senior secured revolving credit facility. The terms of the senior secured term loan facility include a maturity date of March 6, 2020 and bear interest at a rate of LIBOR ("London InterBank Offering Rate") plus 250 bps with a LIBOR floor of 75 bps. The term loan amortizes at $6.3 million annually and allows interest to be paid on a 30-, 60-, or 90-day basis. The Partnership is currently paying interest on a 30-day basis. The net proceeds from the notes and borrowings under the 2013 Credit Agreement were used to repay in full all amounts outstanding under the previous credit facilities. The facilities provided under the 2013 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

Terms of the 2013 Credit Agreement include a revolving credit facility of a combined $255 million. Under the 2013 Credit Agreement, the Canadian portion of the revolving credit facility has a sub-limit of $15 million. U.S. denominated and Canadian denominated loans made under the revolving credit facility bear interest at a rate of LIBOR plus 225 bps (with no LIBOR floor). The revolving credit facility is scheduled to mature in March 2018 and also provides for the issuance of documentary and standby letters of credit. The 2013 Credit Agreement requires the Partnership to pay a commitment fee of 38 bps per annum on the unused portion of the credit facilities.

The 2013 Credit Agreement requires the Partnership to maintain specified financial ratios, which if breached for any reason, including a decline in operating results, could result in an event of default under the agreement. The most restrictive of these ratios is the Consolidated Leverage Ratio which is measured quarterly on a trailing-twelve month basis. The Consolidated Leverage Ratio decreased to 6.00x consolidated total debt (excluding the revolving debt)-to-Consolidated EBITDA at the end of the second quarter in 2014, and the ratio will decrease by 0.25x each second quarter until it reaches 5.25x. As of September 28, 2014, the Partnership’s Consolidated Leverage Ratio was 3.78x. The Partnership was in compliance with all other covenants under the 2013 Credit Agreement as of September 28, 2014.

The Partnership is allowed to make Restricted Payments, as defined in the 2013 Credit Agreement, of up to $60 million annually, so long as no default or event of default has occurred and is continuing. These Restricted Payments are not subject to any specific covenants. Additional Restricted Payments are allowed to be made based on an Excess-Cash-Flow formula, should the Partnership’s pro-forma Consolidated Leverage Ratio be less than or equal to 5.00x. Per the terms of the indentures governing the Partnership's June 2014 and March 2013 notes, we can make Restricted Payments of $60 million annually so long as no default or event of default has occurred and is continuing, and our ability to make additional Restricted Payments in 2014 and beyond is permitted should the Partnership's pro forma trailing-twelve-month Total-Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

The Partnership's March 2013 notes pay interest semi-annually in March and September, with the principal due in full on March 15, 2021. The notes may be redeemed, in whole or in part, at any time prior to March 15, 2016 at a price equal to 100% of the principal amount of the notes redeemed plus a “make-whole” premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. Prior to March 15, 2016, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.25% together with accrued and unpaid interest.

As market conditions warrant, the Partnership may from time to time repurchase debt securities issued by the Partnership, in privately negotiated or open market transactions, by tender offer, exchange offer or otherwise.

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Derivative Financial Instruments

9 Months Ended

Sep. 28, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments:

Derivative financial instruments are used within the Partnership’s overall risk management program to manage certain interest rate and foreign currency risks. By utilizing a derivative instrument to hedge our exposure to LIBOR rate changes, the Partnership is exposed to credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, hedging instruments are placed with a counterparty that the Partnership believes poses minimal credit risk.

The Partnership does not use derivative financial instruments for trading purposes.

We have entered into several interest rate swaps that fix all of our variable rate term-debt payments. As of September 28, 2014, we have $800 million of variable-rate debt to fixed rates swaps that mature in December 2015 and fix LIBOR at a weighted average rate of 2.38%. These swaps have been de-designated as cash flow hedges. During the third quarter and fourth quarter of 2013, we entered into four forward-starting interest rate swap agreements that will effectively convert $500 million of variable-rate debt to fixed rates beginning in December of 2015. These swaps, which were designated as cash flow hedges, mature on December 31, 2018 and fix LIBOR at a weighted average rate of 2.94%.

Fair Value of Derivative Instruments and the Classification in Condensed Consolidated Balance Sheet:

(In thousands)	Condensed Consolidated Balance Sheet Location	Fair Value as of			Fair Value as of			Fair Value as of
		September 28, 2014			December 31, 2013			September 29, 2013
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(10,044	)	$	(3,916	)	$	(5,483	)
Total derivatives designated as hedging instruments		$	(10,044	)	$	(3,916	)	$	(5,483	)
Derivatives not designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(15,758	)	$	(22,746	)	$	(26,163	)
Total derivatives not designated as hedging instruments		$	(15,758	)	$	(22,746	)	$	(26,163	)
Net derivative liability		$	(25,802	)	$	(26,662	)	$	(31,646	)

Derivatives Designated as Hedging Instruments

Changes in fair value of highly effective hedges are recorded as a component of accumulated other comprehensive loss in the unaudited condensed consolidated balance sheets. Any ineffectiveness is recognized immediately in income. Amounts recorded as a component of accumulated other comprehensive loss are reclassified into earnings in the same period the forecasted transactions affect earnings. As of September 28, 2014 we have no amounts that are forecasted to be reclassified into earnings in the next twelve months.

Derivatives Not Designated as Hedging Instruments

Certain interest rate swap contracts were deemed ineffective in prior years and no longer qualified for hedge accounting. As a result of discontinued hedge accounting, the instruments are prospectively adjusted to fair value each reporting period through "Net effect of swaps" on the unaudited condensed consolidated statements of operations and comprehensive income. The amounts that were previously recorded as a component of accumulated other comprehensive loss prior to the de-designation are reclassified to earnings and a corresponding realized gain or loss will be recognized when the forecasted cash flow occurs. As of September 28, 2014, approximately $7.8 million of losses remain in accumulated comprehensive loss related to the effective cash flow hedge contracts prior to de-designation. We estimate that losses of $7.8 million will be reclassified to earnings within the next 12 months.

The following table presents our derivative portfolio along with their notional amounts and their fixed interest rates as of September 28, 2014.

	Interest Rate Swaps
($'s in thousands)	Derivatives designated as hedging instruments				Derivatives not designated as hedging instruments
	Notional Amounts		LIBOR Rate		Notional Amounts		LIBOR Rate
	$	200,000	3.00	%	$	200,000	2.27	%
	100,000		3.00	%	150,000		2.43	%
	100,000		3.00	%	75,000		2.30	%
	100,000		2.70	%	70,000		2.54	%
					50,000		2.54	%
					50,000		2.54	%
					50,000		2.43	%
					50,000		2.29	%
					50,000		2.29	%
					30,000		2.54	%
					25,000		2.30	%
Total $'s / Average Rate	$	500,000	2.94	%	$	800,000	2.38	%

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the three-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)

Amount of Gain (Loss) Recognized in  Accumulated OCI on Derivatives (Effective Portion)

Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)

Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)

Derivatives designated as Cash Flow Hedging Relationships

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

Three months ended

9/28/14

9/29/13

9/28/14

9/29/13

9/28/14

9/29/13

Interest rate swaps

$

1,235

$

(5,483

)

Interest Expense

$

—

$

—

Net effect of swaps

$

—

$

—

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Three months ended		Three months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	3,073	$	609
		$	3,073	$	609

During the quarter ended September 28, 2014, in addition to gains of $3.1 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $2.0 million of expense representing the regular amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations for the quarter. The effect of these amounts resulted in a benefit to earnings of $1.1 million recorded in “Net effect of swaps.”

For the three-month period ended September 29, 2013, in addition to the $0.6 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $2.0 million of expense representing the amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations. The effect of these amounts resulted in a charge to earnings of $1.4 million recorded in “Net effect of swaps.”

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the nine-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)	Amount of Gain (Loss) Recognized in  Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Nine months ended			Nine months ended				Nine months ended		Nine months ended				Nine months ended		Nine months ended
	9/28/14			9/29/13				9/28/14		9/29/13				9/28/14		9/29/13
Interest rate swaps	$	(6,129	)	$	(3,217	)	Interest Expense	$	—	$	(2,797	)	Net effect of swaps	$	—	$	3,703

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Nine months ended		Nine months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	6,991	$	130
		$	6,991	$	130

During the nine-month period ended ended September 28, 2014, in addition to gains of $7.0 million recognized in income on the derivatives not designated as cash flow hedges (as noted in the tables above), $6.0 million of expense representing the regular amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations for the quarter. The effect of these amounts resulted in a benefit to earnings of $1.0 million recorded in “Net effect of swaps.”

For the nine-month period ended September 29, 2013, in addition to the $3.7 million gain recognized in income on the ineffective portion of derivatives and $0.1 million gain on the derivatives not designated as cash flow hedges (as noted in the tables above), $7.8 million of expense related to the write off of OCI balances on our May 2011 swaps and $4.3 million of expense representing the amortization of amounts in AOCI was recorded in the condensed consolidated statements of operations. The effect of these amounts resulted in a charge to earnings of $8.3 million recorded in “Net effect of swaps.”

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the twelve-month periods ended September 28, 2014 and September 29, 2013:

(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Twelve months ended			Twelve months ended				Twelve months ended		Twelve months ended				Twelve months ended		Twelve months ended
	9/28/14			9/29/13				9/28/14		9/29/13				9/28/14		9/29/13
Interest rate swaps	$	(4,562	)	$	(769	)	Interest Expense	$	—	$	(5,820	)	Net effect of swaps	$	—	$	3,703

(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Twelve months ended		Twelve months ended
		9/28/14		9/29/13
Interest rate swaps	Net effect of swaps	$	10,408	$	130
		$	10,408	$	130

During the twelve-month period ending September 28, 2014, in addition to the $10.4 million gain recognized in income on derivatives not designated as cash flow hedges (as noted in the tables above), $7.9 million of expense representing the amortization of amounts in AOCI for the swaps was recorded during the trailing twelve months ended September 28, 2014 in the condensed consolidated statements of operations. The effect of these amounts resulted in a benefit to earnings of $2.5 million recorded in “Net effect of swaps.”

For the twelve-month period ending September 29, 2013, in addition to the $3.7 million gain recognized in income on the ineffective portion of designated derivatives and $0.1 million of gain recognized in income on the derivatives not designated as cash flow hedges as noted in the tables above, $7.8 million of expense related to the write off of OCI balances on our May 2011 swaps and $4.1 million of expense representing the amortization of amounts in AOCI for the swaps was recorded during the trailing twelve months ended September 29, 2013 in the condensed consolidated statements of operations. The net effect of these amounts resulted in a charge to earnings for the trailing twelve month period of $8.1 million recorded in “Net effect of swaps.”

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Earnings per Unit

9 Months Ended

Sep. 28, 2014

Earnings Per Unit [Abstract]

Earnings Per Unit

Earnings per Unit:

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended				Twelve months ended
	9/28/2014		9/29/2013		9/28/2014		9/29/2013		9/28/2014		9/29/2013
	(In thousands except per unit amounts)
Basic weighted average units outstanding	55,439		55,485		55,448		55,472		55,458		55,460
Effect of dilutive units:
Unit options and restricted unit awards	336		189		317		146		290		120
Phantom units	80		189		90		185		116		224
Diluted weighted average units outstanding	55,855		55,863		55,855		55,803		55,864		55,804
Net income per unit - basic	$	2.92	$	3.43	$	2.21	$	2.32	$	1.84	$	2.13
Net income per unit - diluted	$	2.90	$	3.41	$	2.19	$	2.31	$	1.82	$	2.12

The effect of out-of-the-money and/or antidilutive unit options on the three, nine and twelve months ended September 28, 2014 and September 29, 2013, respectively, had they not been out of the money or antidilutive, would have been immaterial in all periods presented.

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Fair Value Measurements (Details) (USD $)	Sep. 28, 2014		Dec. 31, 2013		Sep. 29, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ (25,802,000)		$ (26,662,000)		$ (31,646,000)
Net derivative liability	(25,802,000)		(26,662,000)		(31,646,000)
Increase in net derivative liability	600,000
Fair value of term debt	614,200,000
Total [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	(25,802,000)		(26,662,000)		(31,646,000)
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	0		0		0
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	(25,802,000)		(26,662,000)		(31,646,000)
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	0		0		0
Designated As Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	(10,044,000)		(3,916,000)		(5,483,000)
Designated As Hedging [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(10,044,000)		(3,916,000)		(5,483,000)
Designated As Hedging [Member] | Total [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(10,044,000)	[1]	(3,916,000)	[1]	(5,483,000)	[1]
Designated As Hedging [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0		0	[1]	0	[1]
Designated As Hedging [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(10,044,000)		(3,916,000)	[1]	(5,483,000)	[1]
Designated As Hedging [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0		0	[1]	0	[1]
Not Designated As Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net derivative liability	(15,758,000)		(22,746,000)		(26,163,000)
Not Designated As Hedging [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(15,758,000)		(22,746,000)		(26,163,000)
Not Designated As Hedging [Member] | Total [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(15,758,000)	[2]	(22,746,000)	[2]	(26,163,000)	[2]
Not Designated As Hedging [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0	[2]	0	[2]	0	[2]
Not Designated As Hedging [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	(15,758,000)	[2]	(22,746,000)	[2]	(26,163,000)	[2]
Not Designated As Hedging [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	0	[2]	0	[2]	0	[2]
Senior Unsecured Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	$ 919,500,000

[1] Designated as cash flow hedges and are included in “Derivative Liability” on the Unaudited Condensed Consolidated Balance Sheet

[2] Not designated as cash flow hedges and are included in "Derivative Liability" on the Unaudited Condensed Consolidated Balance Sheet

XML

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in Partnership's carrying value of goodwill

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 28, 2014 and September 29, 2013 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2012	$	326,089		$	(79,868	)	$	246,221
Foreign currency translation	(4,285		)	—			(4,285		)
Balance at September 29, 2013	$	321,804		$	(79,868	)	$	241,936
Balance at December 31, 2013	$	317,957		$	(79,868	)	$	238,089
Foreign currency translation	(5,576		)	—			(5,576		)
Balance at September 28, 2014	$	312,381		$	(79,868	)	$	232,513

Partnership's other intangible assets

At September 28, 2014, December 31, 2013, and September 29, 2013 the Partnership’s other intangible assets consisted of the following:

September 28, 2014	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
(In thousands)
Other intangible assets:
Trade names	$	38,280	$	—	$	38,280
License / franchise agreements	899		413		486
Total other intangible assets	$	39,179	$	413	$	38,766
December 31, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,070	$	—	$	39,070
License / franchise agreements	800		399		401
Total other intangible assets	$	39,870	$	399	$	39,471
September 29, 2013
(In thousands)
Other intangible assets:
Trade names	$	39,615	$	—	$	39,615
License / franchise agreements	799		389		410
Total other intangible assets	$	40,414	$	389	$	40,025

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Consolidating Financial Information of Guarantors and Issuers (Tables)

9 Months Ended

Sep. 28, 2014

Condensed Consolidating Financial Information [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Condensed Consolidating Statements of Cash Flows
For the Twelve Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	258,843		$	42,367		$	32,927		$	52,457		$	(61,746	)	$	324,848
Investment in joint ventures and affiliates	24,507			(37,602		)	(30,743		)	(17,908		)	61,746			—
Intercompany receivables (payments) receipts	—			(46,143		)	—			60,099			(13,956		)	—
Intercompany payables (payments) receipts	(71,020		)	6,760			4,098			46,206			13,956			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
As reported - Net cash from (for) investing activities	$	(23,431	)	$	(37,603	)	$	(36,275	)	$	(51,016	)	$	61,746		$	(86,579	)
Investment in joint ventures and affiliates	(24,507		)	37,602			30,743			17,908			(61,746		)	—
Intercompany receivables (payments) receipts	—			46,143			—			(60,099		)	13,956			—
As corrected - Net cash from (for) investing activities	$	(47,938	)	$	46,142		$	(5,532	)	$	(93,207	)	$	13,956		$	(86,579	)
As reported - Net cash from (for) financing activities	$	(145,412	)	$	(4,734	)	$	(489	)	$	—		$	—		$	(150,635	)
Dividends paid	—			—			(13,173		)	—			13,173			—
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
As corrected - Net cash from (for) financing activities	$	(74,392	)	$	(11,494	)	$	(17,760	)	$	(46,206	)	$	(783	)	$	(150,635	)

Condensed Consolidating Statements of Cash Flows
For the Nine Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	337,821		$	60,434		$	21,615		$	66,757		$	(169,672	)	$	316,955
Investment in joint ventures and affiliates	(63,105		)	(52,172		)	(29,579		)	(24,816		)	169,672			—
Intercompany receivables (payments) receipts	—			(41,768		)	—			55,439			(13,671		)	—
Intercompany payables (payments) receipts	(134,694		)	73,536			5,655			41,832			13,671			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	140,022		$	40,030		$	10,864		$	139,212		$	(13,173	)	$	316,955
As reported - Net cash from (for) investing activities	$	(106,673	)	$	(52,172	)	$	(35,096	)	$	(57,968	)	$	169,672		$	(82,237	)
Investment in joint ventures and affiliates	63,105			52,172			29,579			24,816			(169,672		)	—
Intercompany receivables (payments) receipts	—			41,768			—			(55,439		)	13,671			—
As corrected - Net cash from (for) investing activities	$	(43,568	)	$	41,768		$	(5,517	)	$	(88,591	)	$	13,671		$	(82,237	)
As reported - Net cash from (for) financing activities	$	(123,148	)	$	(6,413	)	$	(489	)	$	—		$	—		$	(130,050	)
Dividends paid	—			—			(13,173		)				13,173			—
Intercompany payables (payments) receipts	134,694			(73,536		)	(5,655		)	(41,832		)	(13,671		)	—
As corrected - Net cash from (for) financing activities	$	11,546		$	(79,949	)	$	(19,317	)	$	(41,832	)	$	(498	)	$	(130,050	)

Condensed Consolidating Balance Sheet

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	124,000	$	2,194	$	52,792	$	10,388	$	—		$	189,374
Receivables	11		131,297		88,605		651,998		(830,649		)	41,262
Inventories	—		3,147		1,833		25,481		—			30,461
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	1,084		5,863		14,219		5,847		(13,028		)	13,985
	125,095		147,931		158,249		697,159		(843,677		)	284,757
Property and Equipment (net)	459,332		8,105		230,723		819,971		—			1,518,131
Investment in Park	560,750		837,800		163,809		60,788		(1,623,147		)	—
Goodwill	9,061		—		112,234		111,218		—			232,513
Other Intangibles, net	—		—		15,911		22,855		—			38,766
Deferred Tax Asset	—		29,935		—		—		(29,935		)	—
Other Assets	11,147		21,071		8,587		2,104		—			42,909
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	2,621	$	1,873	$	106	$	—	$	—		$	4,600
Accounts payable	340,850		208,763		22,485		280,417		(830,649		)	21,866
Deferred revenue	—		—		4,682		43,459		—			48,141
Accrued interest	2,579		1,552		7,877		—		—			12,008
Accrued taxes	5,255		6,534		—		39,646		(13,028		)	38,407
Accrued salaries, wages and benefits	—		29,505		1,962		10,672		—			42,139
Self-insurance reserves	—		5,797		1,747		16,387		—			23,931
Other accrued liabilities	446		5,388		693		1,865		—			8,392
	351,751		259,412		39,552		392,446		(843,677		)	199,484
Deferred Tax Liability	—		—		55,676		131,648		(29,935		)	157,389
Derivative Liability	15,115		10,687		—		—		—			25,802
Other Liabilities	20		4,688		—		11,887		—			16,595
Long-Term Debt:
Term debt	350,046		250,088		14,116		—		—			614,250
Notes	294,897		205,103		450,000		—		—			950,000
	644,943		455,191		464,116		—		—			1,564,250
Equity	153,556		314,864		130,169		1,178,114		(1,623,147		)	153,556
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	75,000	$	4,144	$	35,575	$	3,337	$	—		$	118,056
Receivables	6		115,972		67,829		552,633		(715,107		)	21,333
Inventories	—		1,968		1,898		22,214		—			26,080
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	599		4,443		14,266		7,764		(15,719		)	11,353
	75,605		131,957		120,368		589,393		(730,826		)	186,497
Property and Equipment (net)	447,724		976		243,208		813,855		—			1,505,763
Investment in Park	514,948		796,735		142,668		63,948		(1,518,299		)	—
Goodwill	9,061		—		117,810		111,218		—			238,089
Other Intangibles, net	—		—		16,683		22,788		—			39,471
Deferred Tax Asset	—		31,122		—		117		(31,239		)	—
Other Assets	25,210		10,002		6,657		2,938		—			44,807
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	259,850	$	188,818	$	17,632	$	262,029	$	(715,107	)	$	13,222
Deferred revenue	—		—		2,815		41,706		—			44,521
Accrued interest	4,637		3,223		15,341		—		—			23,201
Accrued taxes	4,609		—		—		30,591		(15,719		)	19,481
Accrued salaries, wages and benefits	—		21,596		1,101		6,503		—			29,200
Self-insurance reserves	—		5,757		1,742		16,154		—			23,653
Other accrued liabilities	1,146		2,993		181		1,201		—			5,521
	270,242		222,387		38,812		358,184		(730,826		)	158,799
Deferred Tax Liability	—		—		57,704		131,648		(31,239		)	158,113
Derivative Liability	15,610		11,052		—		—		—			26,662
Other Liabilities	—		7,858		—		3,432		—			11,290
Long-Term Debt:
Term debt	352,668		251,961		14,221		—		—			618,850
Notes	294,897		205,103		401,782		—		—			901,782
	647,565		457,064		416,003		—		—			1,520,632
Equity	139,131		272,431		134,875		1,110,993		(1,518,299		)	139,131
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	133,000	$	2,293	$	36,187	$	12,002	$	—		$	183,482
Receivables	12		124,478		70,303		589,797		(742,056		)	42,534
Inventories	—		1,578		2,090		25,648		—			29,316
Current deferred tax asset	—		3,708		816		3,661		—			8,185
Other current assets	995		3,558		1,275		3,798		—			9,626
	134,007		135,615		110,671		634,906		(742,056		)	273,143
Property and Equipment (net)	450,205		985		248,484		815,000		—			1,514,674
Investment in Park	548,241		824,356		143,548		81,719		(1,597,864		)	—
Goodwill	9,061		—		121,657		111,218		—			241,936
Other Intangibles, net	—		—		17,228		22,797		—			40,025
Deferred Tax Asset	—		30,316		—		90		(30,406		)	—
Other Assets	13,196		9,031		6,902		2,140		—			31,269
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	3,590	$	2,565	$	145	$	—	$	—		$	6,300
Accounts payable	281,983		159,781		7,802		314,367		(742,056		)	21,877
Deferred revenue	—		—		1,951		35,676		—			37,627
Accrued interest	2,677		1,593		5,983		—		—			10,253
Accrued taxes	5,413		29,386		—		4,594		—			39,393
Accrued salaries, wages and benefits	1		27,622		2,154		9,844		—			39,621
Self-insurance reserves	—		5,545		1,896		16,647		—			24,088
Other accrued liabilities	991		4,077		694		1,856		—			7,618
	294,655		230,569		20,625		382,984		(742,056		)	186,777
Deferred Tax Liability	—		—		61,143		126,866		(30,406		)	157,603
Derivative Liability	18,407		13,239		—		—		—			31,646
Other Liabilities	—		5,573		—		3,500		—			9,073
Long-Term Debt:
Term debt	354,534		253,294		14,297		—		—			622,125
Notes	294,897		205,103		401,606		—		—			901,606
	649,431		458,397		415,903		—		—			1,523,731
Equity	192,217		292,525		150,819		1,154,520		(1,597,864		)	192,217
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047

Condensed Consolidating Statement of Operations and Other Comprehensive Income (Loss)

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	85,161		$	158,384		$	76,325		$	516,002		$	(240,554	)	$	595,318
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,622			5,743			38,447			—			46,812
Operating expenses	1,248			77,814			17,561			322,580			(240,554		)	178,649
Selling, general and administrative	1,307			35,241			5,082			15,575			—			57,205
Depreciation and amortization	19,709			166			8,685			29,684			—			58,244
Gain on sale of other assets	—			—			—			—			—			—
(Gain) loss on impairment / retirement of fixed assets, net	532			1			229			713			—			1,475
	22,796			115,844			37,300			406,999			(240,554		)	342,385
Operating income (loss)	62,365			42,540			39,025			109,003			—			252,933
Interest expense (income), net	10,622			7,073			6,243			(2,492		)	—			21,446
Net effect of swaps	(666		)	(421		)	—			—			—			(1,087		)
Loss on early debt extinguishment	—			—			(246		)	—			—			(246		)
Unrealized / realized foreign currency gain	—			—			21,515			—			—			21,515
Other (income) expense	187			(2,415		)	531			1,697			—			—
(Income) loss from investment in affiliates	(114,725		)	(58,671		)	(14,629		)	(23,774		)	211,799			—
Income (loss) before taxes	166,947			96,974			25,611			133,572			(211,799		)	211,305
Provision (benefit) for taxes	5,045			12,717			1,836			29,805			—			49,403
Net income (loss)	$	161,902		$	84,257		$	23,775		$	103,767		$	(211,799	)	$	161,902
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975			—			2,975			—			(2,975		)	2,975
Unrealized income (loss) on cash flow hedging derivatives	2,726			807			—			—			(807		)	2,726
Other comprehensive income (loss), (net of tax)	5,701			807			2,975			—			(3,782		)	5,701
Total Comprehensive Income (loss)	$	167,603		$	85,064		$	26,750		$	103,767		$	(215,581	)	$	167,603

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	83,285		$	161,866		$	82,265		$	509,467		$	(244,807	)	$	592,076
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,082			39,761			—			45,843
Operating expenses	1,669			76,468			19,042			318,022			(244,807		)	170,394
Selling, general and administrative	1,796			38,083			4,781			14,067			—			58,727
Depreciation and amortization	18,306			10			8,979			30,200			—			57,495
Gain on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	368			—			1			1,268			—			1,637
	22,139			114,561			38,885			394,575			(244,807		)	325,353
Operating income	61,146			47,305			43,380			114,892			—			266,723
Interest expense, net	10,858			6,901			9,731			(1,978		)	—			25,512
Net effect of swaps	810			567			—			—			—			1,377
Unrealized / realized foreign currency loss	—			—			(8,615		)	—			—			(8,615		)
Other (income) expense	188			(2,129		)	584			1,357			—			—
(Income) loss from investment in affiliates	(146,054		)	(78,714		)	(13,606		)	(40,904		)	279,278			—
Income (loss) before taxes	195,344			120,680			55,286			156,417			(279,278		)	248,449
Provision (benefit) for taxes	4,920			14,537			14,390			24,178			—			58,025
Net income (loss)	$	190,424		$	106,143		$	40,896		$	132,239		$	(279,278	)	$	190,424
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(699		)	—			(699		)	—			699			(699		)
Unrealized income (loss) on cash flow hedging derivatives	(2,761		)	(1,202		)	—			—			1,202			(2,761		)
Other comprehensive income (loss), (net of tax)	(3,460		)	(1,202		)	(699		)	—			1,901			(3,460		)
Total Comprehensive Income (loss)	$	186,964		$	104,941		$	40,197		$	132,239		$	(277,377	)	$	186,964

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	133,000		$	246,800		$	110,354		$	884,327		$	(375,683	)	$	998,798
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,625			71,561			—			82,887
Operating expenses	3,908			155,169			39,622			583,175			(375,683		)	406,191
Selling, general and administrative	4,170			79,408			9,841			31,807			—			125,226
Depreciation and amortization	34,194			269			15,187			59,875			—			109,525
Gain on sale of other assets	—			—			—			(921		)	—			(921		)
Loss (gain) on impairment / retirement of fixed assets, net	781			—			229			1,677			—			2,687
	43,053			237,547			73,504			747,174			(375,683		)	725,595
Operating income	89,947			9,253			36,850			137,153			—			273,203
Interest expense (income), net	31,354			21,438			27,644			(6,430		)	—			74,006
Net effect of swaps	(650		)	(381		)	—			—			—			(1,031		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency gain	—			—			22,597			—			—			22,597
Other (income) expense	562			(8,104		)	1,436			6,106			—			—
(Income) loss from investment in affiliates	(72,051		)	(33,249		)	(21,141		)	6,399			120,042			—
Income (loss) before taxes	130,732			29,549			(22,713		)	131,078			(120,042		)	148,604
Provision (benefit) for taxes	8,468			(1,186		)	(16,315		)	35,373			—			26,340
Net loss	$	122,264		$	30,735		$	(6,398	)	$	95,705		$	(120,042	)	$	122,264
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,279			—			2,279			—			(2,279		)	2,279
Unrealized income (loss) on cash flow hedging derivatives	(165		)	(10		)	—			—			10			(165		)
Other comprehensive income (loss), (net of tax)	2,114			(10		)	2,279			—			(2,269		)	2,114
Total Comprehensive Loss	$	124,378		$	30,725		$	(4,119	)	$	95,705		$	(122,311	)	$	124,378

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,528		$	255,595		$	117,508		$	877,450		$	(386,586	)	$	995,495
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,076			72,857			—			81,933
Operating expenses	4,500			150,320			40,569			579,532			(386,586		)	388,335
Selling, general and administrative	4,310			81,584			9,360			30,279			—			125,533
Depreciation and amortization	31,672			28			15,797			60,816			—			108,313
(Gain) on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	404			—			479			1,383			—			2,266
	40,886			231,932			75,281			736,124			(386,586		)	697,637
Operating income (loss)	90,642			23,663			42,227			141,326			—			297,858
Interest expense, net	31,580			21,824			29,338			(5,715		)	—			77,027
Net effect of swaps	5,067			3,248			—			—			—			8,315
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			15,229			—			—			15,229
Other (income) expense	563			(6,645		)	1,967			4,115			—			—
(Income) loss from investment in affiliates	(104,833		)	(58,614		)	(18,318		)	(15,029		)	196,794			—
Income (loss) before taxes	137,090			51,069			13,394			157,955			(196,794		)	162,714
Provision (benefit) for taxes	8,402			(2,444		)	(1,596		)	29,664			—			34,026
Net loss	$	128,688		$	53,513		$	14,990		$	128,291		$	(196,794	)	$	128,688
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	1,194			—			1,194			—			(1,194		)	1,194
Unrealized income (loss) on cash flow hedging derivatives	7,803			1,836			—			—			(1,836		)	7,803
Other comprehensive income (loss), (net of tax)	8,997			1,836			1,194			—			(3,030		)	8,997
Total Comprehensive Loss	$	137,685		$	55,349		$	16,184		$	128,291		$	(199,824	)	$	137,685

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	153,941		$	287,282		$	120,538		$	1,013,346		$	(437,232	)	$	1,137,875
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,871			81,154			—			92,726
Operating expenses	5,411			188,453			46,823			686,745			(437,232		)	490,200
Selling, general and administrative	5,577			98,649			11,465			36,414			—			152,105
Depreciation and amortization	39,329			278			16,723			67,369			—			123,699
(Gain) on sale of other assets	—			—			—			(921		)	—			(921		)
Loss on impairment / retirement of fixed assets, net	801			—			229			1,930			—			2,960
	51,118			290,081			84,111			872,691			(437,232		)	860,769
Operating income	102,823			(2,799		)	36,427			140,655			—			277,106
Interest (income) expense, net	42,404			28,489			37,682			(8,679		)	—			99,896
Net effect of swaps	(1,527		)	(936		)	—			—			—			(2,463		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency loss	—			—			36,309			—			—			36,309
Other (income) expense	749			(12,716		)	3,148			8,819			—			—
(Income) loss from investment in affiliates	(50,775		)	(12,155		)	(20,261		)	23,905			59,286			—
Income (loss) before taxes	111,972			(5,481		)	(49,478		)	116,610			(59,286		)	114,337
Provision (benefit) for taxes	10,192			(10,875		)	(25,575		)	38,815			—			12,557
Net income (loss)	$	101,780		$	5,394		$	(23,903	)	$	77,795		$	(59,286	)	$	101,780
Other comprehensive income, (net of tax):
Cumulative foreign currency translation adjustment	3,841			—			3,841			—			(3,841		)	3,841
Unrealized income on cash flow hedging derivatives	2,768			1,002			—			—			(1,002		)	2,768
Other comprehensive income, (net of tax)	6,609			1,002			3,841			—			(4,843		)	6,609
Total Comprehensive Income (loss)	$	108,389		$	6,396		$	(20,062	)	$	77,795		$	(64,129	)	$	108,389

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	152,379		$	292,510		$	127,485		$	996,647		$	(444,321	)	$	1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,404			83,651			—			93,055
Operating expenses	5,739			179,465			48,104			669,919			(444,321		)	458,906
Selling, general and administrative	5,964			97,351			10,618			34,423			—			148,356
Depreciation and amortization	35,896			40			17,581			68,891			—			122,408
(Gain) on sale of other assets	—			—			—			(15,368		)	—			(15,368		)
Loss (gain) on impairment / retirement of fixed assets, net	1,318			—			476			6,578			—			8,372
	48,917			276,856			86,183			848,094			(444,321		)	815,729
Operating income	103,462			15,654			41,302			148,553			—			308,971
Interest expense, net	43,667			29,195			39,310			(8,465		)	—			103,707
Net effect of swaps	4,964			3,177			—			—			—			8,141
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			20,157			—			—			20,157
Other (income) expense	751			(9,033		)	2,766			5,516			—			—
(Income) loss from investment in affiliates	(95,234		)	(51,316		)	(18,019		)	(8,239		)	172,808			—
Income before taxes	128,139			30,850			(3,529		)	159,741			(172,808		)	142,393
Provision (benefit) for taxes	9,776			(8,530		)	(11,708		)	34,492			—			24,030
Net income	$	118,363		$	39,380		$	8,179		$	125,249		$	(172,808	)	$	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,814			—			2,814			—			(2,814		)	2,814
Unrealized income (loss) on cash flow hedging derivatives	9,740			2,385			—			—			(2,385		)	9,740
Other comprehensive income (loss), (net of tax)	12,554			2,385			2,814			—			(5,199		)	12,554
Total Comprehensive Income	$	130,917		$	41,765		$	10,993		$	125,249		$	(178,007	)	$	130,917

Condensed Consolidating Statement of Cash Flows

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	122,796		$	11,832		$	14,637		$	164,278		$	(1,824	)	$	311,719
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables receipts	—			13,794			—			(77,332		)	63,538			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(55,105		)	(257		)	(14,394		)	(67,257		)	—			(137,013		)
Net cash from investing activities	(55,105		)	13,537			(14,394		)	(143,212		)	63,538			(135,636		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(119,292		)	—			—			—			1,824			(117,468		)
Payment of debt issuance costs	—			—			(9,795		)	—			—			(9,795		)
Intercompany payables (payments) receipts	100,601			(26,534		)	3,486			(14,015		)	(63,538		)	—
Excess tax benefit from unit-based compensation expense	—			(785		)	—			—			—			(785		)
Net cash (for) financing activities	(18,691		)	(27,319		)	17,543			(14,015		)	(61,714		)	(104,196		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(569		)	—			—			(569		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	49,000			(1,950		)	17,217			7,051			—			71,318
Balance, beginning of period	75,000			4,144			35,575			3,337			—			118,056
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)				Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	140,022		$	40,030			$	10,864		$	139,212		$	(13,173	)	$	316,955
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			41,768				—			(55,439		)	13,671			—
Sale of other assets	—			—				—			15,297			—			15,297
Capital expenditures	(43,568		)	—				(5,517		)	(48,449		)	—			(97,534		)
Net cash from (for) investing activities	(43,568		)	41,768				(5,517		)	(88,591		)	13,671			(82,237		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			—	14,478			—			—			630,000
Note borrowings	294,897			205,103				—			—			—			500,000
Payment of debt issuance costs	(14,332		)	(8,028		)		(452		)	—			—			(22,812		)
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)		(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(107,013		)	2,555				(13,173		)	—			13,173			(104,458		)
Intercompany payables (payments) receipts	134,695			(73,536		)		(5,656		)	(41,832		)	(13,671		)	—
Exercise of limited partnership unit options	—			43				—			—			—			43
Excess tax benefit from unit-based compensation expense	—			(148		)		—			—			—			(148		)
Net cash (for) financing activities	11,546			(79,949		)		(19,317		)	(41,832		)	(498		)	(130,050		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—				(16		)	—			—			(16		)
CASH AND CASH EQUIVALENTS
Net increase for the period	108,000			1,849				(13,986		)	8,789			—			104,652
Balance, beginning of period	25,000			444				50,173			3,213			—			78,830
Balance, end of period	$	133,000		$	2,293			$	36,187		$	12,002		$	—		$	183,482

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	145,424		$	(4,845	)	$	16,902		$	163,482		$	(2,966	)	$	317,997
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			16,049			—			(77,029		)	60,980			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(67,790		)	(257		)	(18,851		)	(73,174		)	—			(160,072		)
Net cash (for) investing activities	(67,790		)	15,792			(18,851		)	(148,826		)	60,980			(158,695		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Term debt payments, including amounts paid for early termination	(5,457		)	(3,898		)	(220		)	—			—			(9,575		)
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(159,433		)	—			—			—			2,966			(156,467		)
Intercompany payables (payments) receipts	78,459			(7,234		)	6,025			(16,270		)	(60,980		)	—
Excess tax benefit from unit-based compensation expense	—			218			—			—			—			218
Payment of debt issuance costs	(203		)	(142		)	(9,887		)	—			—			(10,232		)
Exercise of limited partnership unit options	—			10			—			—			—			10
Net cash (for) financing activities	(86,634		)	(11,046		)	19,770			(16,270		)	(58,014		)	(152,194		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(1,216		)	—			—			(1,216		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(9,000		)	(99		)	16,605			(1,614		)	—			5,892
Balance, beginning of period	133,000			2,293			36,187			12,002			—			183,482
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables payments	—			46,143			—			(60,099		)	13,956			—
Sale of other assets	—			—			—			30,182			—			30,182
Capital expenditures	(47,938		)	(1		)	(5,532		)	(63,290		)	—			(116,761		)
Net cash from (for) investing activities	(47,938		)	46,142			(5,532		)	(93,207		)	13,956			(86,579		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			14,478			—			—			630,000
Note borrowings	294,897			205,103			—			—			—			500,000
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)	(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(129,277		)	2,571			(13,173		)	—			13,173			(126,706		)
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
Payment of debt issuance costs	(14,331		)	(8,028		)	(453		)	—			—			(22,812		)
Exercise of limited partnership unit options	—			43			—			—			—			43
Excess tax benefit from unit-based compensation	—			1,515			—			—			—			1,515
Net cash from (for) financing activities	(74,392		)	(11,494		)	(17,760		)	(46,206		)	(783		)	(150,635		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(254		)	—			—			(254		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	90,000			30			(4,091		)	1,441			—			87,380
Balance, beginning of period	43,000			2,263			40,278			10,561			—			96,102
Balance, end of period	$	133,000		$	2,293		$	36,187		$	12,002		$	—		$	183,482

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Consolidating Financial Information of Guarantors and Issuers Income Statement (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Condensed Financial Statements, Captions [Line Items]
Net revenues	$ 595,318	$ 592,076	$ 998,798	$ 995,495	$ 1,137,875	$ 1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	46,812	45,843	82,887	81,933	92,726	93,055
Operating expenses	178,649	170,394	406,191	388,335	490,200	458,906
Selling, general and administrative	57,205	58,727	125,226	125,533	152,105	148,356
Depreciation and amortization	58,244	57,495	109,525	108,313	123,699	122,408
Gain on sale of other assets	0	(8,743)	(921)	(8,743)	(921)	(15,368)
Loss on impairment / retirement of fixed assets, net	1,475	1,637	2,687	2,266	2,960	8,372
Total costs and expenses	342,385	325,353	725,595	697,637	860,769	815,729
Operating income	252,933	266,723	273,203	297,858	277,106	308,971
Interest expense (income), net	21,446	25,512	74,006	77,027	99,896	103,707
Net effect of swaps	(1,087)	1,377	(1,031)	8,315	(2,463)	8,141
Loss on early debt extinguishment	(246)	0	29,027	34,573	29,027	34,573
Unrealized / realized foreign currency gain	21,515	(8,615)	22,597	15,229	36,309	20,157
Other (income) expense	0	0	0	0	0	0
(Income) loss from investment in affiliates	0	0	0	0	0	0
Income before taxes	211,305	248,449	148,604	162,714	114,337	142,393
Provision for taxes	49,403	58,025	26,340	34,026	12,557	24,030
Net income	161,902	190,424	122,264	128,688	101,780	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975	(699)	2,279	1,194	3,841	2,814
Unrealized income (loss) on cash flow hedging derivatives	2,726	(2,761)	(165)	7,803	2,768	9,740
Other comprehensive income (loss), (net of tax)	5,701	(3,460)	2,114	8,997	6,609	12,554
Total Comprehensive Income (Loss)	167,603	186,964	124,378	137,685	108,389	130,917
Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	85,161	83,285	133,000	131,528	153,941	152,379
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0	0	0
Operating expenses	1,248	1,669	3,908	4,500	5,411	5,739
Selling, general and administrative	1,307	1,796	4,170	4,310	5,577	5,964
Depreciation and amortization	19,709	18,306	34,194	31,672	39,329	35,896
Gain on sale of other assets	0	0	0	0	0	0
Loss on impairment / retirement of fixed assets, net	532	368	781	404	801	1,318
Total costs and expenses	22,796	22,139	43,053	40,886	51,118	48,917
Operating income	62,365	61,146	89,947	90,642	102,823	103,462
Interest expense (income), net	10,622	10,858	31,354	31,580	42,404	43,667
Net effect of swaps	(666)	810	(650)	5,067	(1,527)	4,964
Loss on early debt extinguishment	0		0	21,175	0	21,175
Unrealized / realized foreign currency gain	0	0	0	0	0	0
Other (income) expense	187	188	562	563	749	751
(Income) loss from investment in affiliates	(114,725)	(146,054)	(72,051)	(104,833)	(50,775)	(95,234)
Income before taxes	166,947	195,344	130,732	137,090	111,972	128,139
Provision for taxes	5,045	4,920	8,468	8,402	10,192	9,776
Net income	161,902	190,424	122,264	128,688	101,780	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975	(699)	2,279	1,194	3,841	2,814
Unrealized income (loss) on cash flow hedging derivatives	2,726	(2,761)	(165)	7,803	2,768	9,740
Other comprehensive income (loss), (net of tax)	5,701	(3,460)	2,114	8,997	6,609	12,554
Total Comprehensive Income (Loss)	167,603	186,964	124,378	137,685	108,389	130,917
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	158,384	161,866	246,800	255,595	287,282	292,510
Costs and expenses:
Cost of food, merchandise, and games revenues	2,622	0	2,701	0	2,701	0
Operating expenses	77,814	76,468	155,169	150,320	188,453	179,465
Selling, general and administrative	35,241	38,083	79,408	81,584	98,649	97,351
Depreciation and amortization	166	10	269	28	278	40
Gain on sale of other assets	0	0	0	0	0	0
Loss on impairment / retirement of fixed assets, net	1	0	0	0	0	0
Total costs and expenses	115,844	114,561	237,547	231,932	290,081	276,856
Operating income	42,540	47,305	9,253	23,663	(2,799)	15,654
Interest expense (income), net	7,073	6,901	21,438	21,824	28,489	29,195
Net effect of swaps	(421)	567	(381)	3,248	(936)	3,177
Loss on early debt extinguishment	0		0	12,781	0	12,781
Unrealized / realized foreign currency gain	0	0	0	0	0	0
Other (income) expense	(2,415)	(2,129)	(8,104)	(6,645)	(12,716)	(9,033)
(Income) loss from investment in affiliates	(58,671)	(78,714)	(33,249)	(58,614)	(12,155)	(51,316)
Income before taxes	96,974	120,680	29,549	51,069	(5,481)	30,850
Provision for taxes	12,717	14,537	(1,186)	(2,444)	(10,875)	(8,530)
Net income	84,257	106,143	30,735	53,513	5,394	39,380
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	0	0	0	0	0	0
Unrealized income (loss) on cash flow hedging derivatives	807	(1,202)	(10)	1,836	1,002	2,385
Other comprehensive income (loss), (net of tax)	807	(1,202)	(10)	1,836	1,002	2,385
Total Comprehensive Income (Loss)	85,064	104,941	30,725	55,349	6,396	41,765
Co-Issuer Subsidiary (Cedar Canada) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	76,325	82,265	110,354	117,508	120,538	127,485
Costs and expenses:
Cost of food, merchandise, and games revenues	5,743	6,082	8,625	9,076	8,871	9,404
Operating expenses	17,561	19,042	39,622	40,569	46,823	48,104
Selling, general and administrative	5,082	4,781	9,841	9,360	11,465	10,618
Depreciation and amortization	8,685	8,979	15,187	15,797	16,723	17,581
Gain on sale of other assets	0	0	0	0	0	0
Loss on impairment / retirement of fixed assets, net	229	1	229	479	229	476
Total costs and expenses	37,300	38,885	73,504	75,281	84,111	86,183
Operating income	39,025	43,380	36,850	42,227	36,427	41,302
Interest expense (income), net	6,243	9,731	27,644	29,338	37,682	39,310
Net effect of swaps	0	0	0	0	0	0
Loss on early debt extinguishment	(246)		29,027	617	29,027	617
Unrealized / realized foreign currency gain	21,515	(8,615)	22,597	15,229	36,309	20,157
Other (income) expense	531	584	1,436	1,967	3,148	2,766
(Income) loss from investment in affiliates	(14,629)	(13,606)	(21,141)	(18,318)	(20,261)	(18,019)
Income before taxes	25,611	55,286	(22,713)	13,394	(49,478)	(3,529)
Provision for taxes	1,836	14,390	(16,315)	(1,596)	(25,575)	(11,708)
Net income	23,775	40,896	(6,398)	14,990	(23,903)	8,179
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975	(699)	2,279	1,194	3,841	2,814
Unrealized income (loss) on cash flow hedging derivatives	0	0	0	0	0	0
Other comprehensive income (loss), (net of tax)	2,975	(699)	2,279	1,194	3,841	2,814
Total Comprehensive Income (Loss)	26,750	40,197	(4,119)	16,184	(20,062)	10,993
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	516,002	509,467	884,327	877,450	1,013,346	996,647
Costs and expenses:
Cost of food, merchandise, and games revenues	38,447	39,761	71,561	72,857	81,154	83,651
Operating expenses	322,580	318,022	583,175	579,532	686,745	669,919
Selling, general and administrative	15,575	14,067	31,807	30,279	36,414	34,423
Depreciation and amortization	29,684	30,200	59,875	60,816	67,369	68,891
Gain on sale of other assets	0	(8,743)	(921)	(8,743)	(921)	(15,368)
Loss on impairment / retirement of fixed assets, net	713	1,268	1,677	1,383	1,930	6,578
Total costs and expenses	406,999	394,575	747,174	736,124	872,691	848,094
Operating income	109,003	114,892	137,153	141,326	140,655	148,553
Interest expense (income), net	(2,492)	(1,978)	(6,430)	(5,715)	(8,679)	(8,465)
Net effect of swaps	0	0	0	0	0	0
Loss on early debt extinguishment	0		0	0	0	0
Unrealized / realized foreign currency gain	0	0	0	0	0	0
Other (income) expense	1,697	1,357	6,106	4,115	8,819	5,516
(Income) loss from investment in affiliates	(23,774)	(40,904)	6,399	(15,029)	23,905	(8,239)
Income before taxes	133,572	156,417	131,078	157,955	116,610	159,741
Provision for taxes	29,805	24,178	35,373	29,664	38,815	34,492
Net income	103,767	132,239	95,705	128,291	77,795	125,249
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	0	0	0	0	0	0
Unrealized income (loss) on cash flow hedging derivatives	0	0	0	0	0	0
Other comprehensive income (loss), (net of tax)	0	0	0	0	0	0
Total Comprehensive Income (Loss)	103,767	132,239	95,705	128,291	77,795	125,249
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	(240,554)	(244,807)	(375,683)	(386,586)	(437,232)	(444,321)
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0	0	0
Operating expenses	(240,554)	(244,807)	(375,683)	(386,586)	(437,232)	(444,321)
Selling, general and administrative	0	0	0	0	0	0
Depreciation and amortization	0	0	0	0	0	0
Gain on sale of other assets	0	0	0	0	0	0
Loss on impairment / retirement of fixed assets, net	0	0	0	0	0	0
Total costs and expenses	(240,554)	(244,807)	(375,683)	(386,586)	(437,232)	(444,321)
Operating income	0	0	0	0	0	0
Interest expense (income), net	0	0	0	0	0	0
Net effect of swaps	0	0	0	0	0	0
Loss on early debt extinguishment	0		0	0	0	0
Unrealized / realized foreign currency gain	0	0	0	0	0	0
Other (income) expense	0	0	0	0	0	0
(Income) loss from investment in affiliates	211,799	279,278	120,042	196,794	59,286	172,808
Income before taxes	(211,799)	(279,278)	(120,042)	(196,794)	(59,286)	(172,808)
Provision for taxes	0	0	0	0	0	0
Net income	(211,799)	(279,278)	(120,042)	(196,794)	(59,286)	(172,808)
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(2,975)	699	(2,279)	(1,194)	(3,841)	(2,814)
Unrealized income (loss) on cash flow hedging derivatives	(807)	1,202	10	(1,836)	(1,002)	(2,385)
Other comprehensive income (loss), (net of tax)	(3,782)	1,901	(2,269)	(3,030)	(4,843)	(5,199)
Total Comprehensive Income (Loss)	$ (215,581)	$ (277,377)	$ (122,311)	$ (199,824)	$ (64,129)	$ (178,007)

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Unaudited Condensed Consolidated Statement of Partners' Equity (USD $) In Thousands, unless otherwise specified	Total	Limited Partners [Member]	General Partner [Member]	Special L.P. Interests [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Translation Adjustment [Member]	Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Beginning balance, value at Dec. 31, 2013	$ 139,131	$ 148,847	$ 2	$ 5,290		$ 5	$ (15,013)
Beginning balance, units at Dec. 31, 2013		55,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Limited partnership unit options exercised		19
Issuance of limited partnership units as compensation		128
Net income	122,264	122,263	1
Partnership distribution declared ($2.10 per limited partnership unit)		(117,468)
Expense recognized for limited partnership unit options		668
Tax effect of units involved in option exercises and treasury unit transactions		(785)
Issuance of limited partnership units as compensation		7,632
Weighted average limited partner units outstanding	55,448
Current period activity, net of tax $6 at Sep. 28, 2014	(165)						(165)
Ending balance, value at Sep. 28, 2014	153,556	161,157	3	5,290	(12,894)	2,284	(15,178)
Current period activity, net of tax ($1,310) at Sep. 28, 2014	$ 2,279					$ 2,279
Ending balance, units at Sep. 28, 2014		55,863

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Interim Reporting

9 Months Ended

Sep. 28, 2014

Quarterly Financial Information Disclosure [Abstract]

Interim Reporting

Interim Reporting:

The Partnership owns and operates eleven amusement parks, three separately gated outdoor water parks, one indoor water park and five hotels. Virtually all of the Partnership’s revenues from its seasonal amusement parks, as well as its outdoor water parks and other seasonal resort facilities, are realized during a 130- to 140-day operating period beginning in early May, with the major portion concentrated in the third quarter during the peak vacation months of July and August. Knott's Berry Farm is open daily on a year-round basis. Castaway Bay is generally open daily from Memorial Day to Labor Day, plus a limited daily schedule for the balance of the year.

To assure that these highly seasonal operations will not result in misleading comparisons of current and subsequent interim periods, the Partnership has adopted the following accounting and reporting procedures for its seasonal parks: (a) revenues on multi-day admission tickets are recognized over the estimated number of visits expected for each type of ticket and are adjusted periodically during the season, (b) depreciation, advertising and certain seasonal operating costs are expensed during each park’s operating season, including certain costs incurred prior to the season which are amortized over the season, and (c) all other costs are expensed as incurred or ratably over the entire year.

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Interim Reporting (Details)	9 Months Ended
	Sep. 28, 2014
Nature of Operations [Line Items]
Number of amusement parks owned and operated	11
Number of outdoor water parks owned and operated	3
Number of indoor water parks owned and operated	1
Number of hotels owned and operated	5
Minimum [Member]
Nature of Operations [Line Items]
Operating period	130 days
Maximum [Member]
Nature of Operations [Line Items]
Operating period	140 days

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Changes in Accumulated Other Comprehensive Income by Component Reclassifications Out of AOCI (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013	Sep. 28, 2014	Sep. 29, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net effect of swaps	$ 1,087	$ (1,377)	$ 1,031	$ (8,315)	$ 2,463	$ (8,141)
Income before taxes	211,305	248,449	148,604	162,714	114,337	142,393
Provision (benefit) for taxes	(49,403)	(58,025)	(26,340)	(34,026)	(12,557)	(24,030)
Net income	161,902	190,424	122,264	128,688	101,780	118,363
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income before taxes	1,985	1,986	5,957	12,146	7,942	11,972
Provision (benefit) for taxes	(307)	(307)	(922)	(1,843)	(1,228)	(1,816)
Net income	1,678	1,679	5,035	10,303	6,714	10,156
Interest Rate Contracts [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net effect of swaps	$ 1,985	$ 1,986	$ 5,957	$ 12,146	$ 7,942	$ 11,972

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Consolidating Financial Information of Guarantors and Issuers

9 Months Ended

Sep. 28, 2014

Condensed Consolidating Financial Information [Abstract]

Consolidating Financial Information of Guarantors and Issuers

Consolidating Financial Information of Guarantors and Issuers:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), and Magnum Management Corporation ("Magnum") are the co-issuers of the Partnership's June 2014 and March 2013 notes (see Note 5). The notes have been fully and unconditionally guaranteed, on a joint and several basis, by each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum) that guarantees the Partnership's senior secured credit facilities. There are no non-guarantor subsidiaries.

The following consolidating schedules present condensed financial information for Cedar Fair, L.P., Cedar Canada, and Magnum, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum), the guarantors (on a combined basis), as of September 28, 2014, December 31, 2013, and September 29, 2013 and for the three, nine, and twelve month periods ended September 28, 2014 and September 29, 2013. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the Partnership has included the accompanying condensed consolidating financial statements.

The Partnership adopted ASU 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date" as of January 1, 2014. The debt disclosed on the unaudited balance sheets as of September 28, 2014, December 31, 2013, and September 29, 2013 reflect the adoption of this guidance. For the periods ended December 31, 2013 and September 29, 2013, the debt disclosed and related items have been adjusted to reflect only the amounts of debt Cedar Fair, L.P, Cedar Canada, and Magnum have recorded on their books.

In addition to making the retrospective adjustments to the balance sheets related to the adoption of ASU 2013-04, the Unaudited Condensed Consolidating Statements of Cash Flows for the nine and twelve month periods ended September 29, 2013 have been revised to correct the presentation of certain intercompany transactions previously recorded as cash flows from operating activities and the presentation of an intercompany term debt receipt previously recorded as cash flows from financing activities. A summary of the changes are below:

Condensed Consolidating Statements of Cash Flows
For the Nine Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	337,821		$	60,434		$	21,615		$	66,757		$	(169,672	)	$	316,955
Investment in joint ventures and affiliates	(63,105		)	(52,172		)	(29,579		)	(24,816		)	169,672			—
Intercompany receivables (payments) receipts	—			(41,768		)	—			55,439			(13,671		)	—
Intercompany payables (payments) receipts	(134,694		)	73,536			5,655			41,832			13,671			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	140,022		$	40,030		$	10,864		$	139,212		$	(13,173	)	$	316,955
As reported - Net cash from (for) investing activities	$	(106,673	)	$	(52,172	)	$	(35,096	)	$	(57,968	)	$	169,672		$	(82,237	)
Investment in joint ventures and affiliates	63,105			52,172			29,579			24,816			(169,672		)	—
Intercompany receivables (payments) receipts	—			41,768			—			(55,439		)	13,671			—
As corrected - Net cash from (for) investing activities	$	(43,568	)	$	41,768		$	(5,517	)	$	(88,591	)	$	13,671		$	(82,237	)
As reported - Net cash from (for) financing activities	$	(123,148	)	$	(6,413	)	$	(489	)	$	—		$	—		$	(130,050	)
Dividends paid	—			—			(13,173		)				13,173			—
Intercompany payables (payments) receipts	134,694			(73,536		)	(5,655		)	(41,832		)	(13,671		)	—
As corrected - Net cash from (for) financing activities	$	11,546		$	(79,949	)	$	(19,317	)	$	(41,832	)	$	(498	)	$	(130,050	)

Condensed Consolidating Statements of Cash Flows
For the Twelve Month Period Ended September 29, 2013
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	258,843		$	42,367		$	32,927		$	52,457		$	(61,746	)	$	324,848
Investment in joint ventures and affiliates	24,507			(37,602		)	(30,743		)	(17,908		)	61,746			—
Intercompany receivables (payments) receipts	—			(46,143		)	—			60,099			(13,956		)	—
Intercompany payables (payments) receipts	(71,020		)	6,760			4,098			46,206			13,956			—
Dividends paid	—			—			13,173			—			(13,173		)	—
As corrected - Net cash from (for) operating activities	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
As reported - Net cash from (for) investing activities	$	(23,431	)	$	(37,603	)	$	(36,275	)	$	(51,016	)	$	61,746		$	(86,579	)
Investment in joint ventures and affiliates	(24,507		)	37,602			30,743			17,908			(61,746		)	—
Intercompany receivables (payments) receipts	—			46,143			—			(60,099		)	13,956			—
As corrected - Net cash from (for) investing activities	$	(47,938	)	$	46,142		$	(5,532	)	$	(93,207	)	$	13,956		$	(86,579	)
As reported - Net cash from (for) financing activities	$	(145,412	)	$	(4,734	)	$	(489	)	$	—		$	—		$	(150,635	)
Dividends paid	—			—			(13,173		)	—			13,173			—
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
As corrected - Net cash from (for) financing activities	$	(74,392	)	$	(11,494	)	$	(17,760	)	$	(46,206	)	$	(783	)	$	(150,635	)

These revisions had no effect on the Partnership's Unaudited Condensed Consolidated Balance Sheets, Statements of Operations and Comprehensive Income, Statements of Partner's Equity, or Statements of Cash Flows.

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	124,000	$	2,194	$	52,792	$	10,388	$	—		$	189,374
Receivables	11		131,297		88,605		651,998		(830,649		)	41,262
Inventories	—		3,147		1,833		25,481		—			30,461
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	1,084		5,863		14,219		5,847		(13,028		)	13,985
	125,095		147,931		158,249		697,159		(843,677		)	284,757
Property and Equipment (net)	459,332		8,105		230,723		819,971		—			1,518,131
Investment in Park	560,750		837,800		163,809		60,788		(1,623,147		)	—
Goodwill	9,061		—		112,234		111,218		—			232,513
Other Intangibles, net	—		—		15,911		22,855		—			38,766
Deferred Tax Asset	—		29,935		—		—		(29,935		)	—
Other Assets	11,147		21,071		8,587		2,104		—			42,909
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	2,621	$	1,873	$	106	$	—	$	—		$	4,600
Accounts payable	340,850		208,763		22,485		280,417		(830,649		)	21,866
Deferred revenue	—		—		4,682		43,459		—			48,141
Accrued interest	2,579		1,552		7,877		—		—			12,008
Accrued taxes	5,255		6,534		—		39,646		(13,028		)	38,407
Accrued salaries, wages and benefits	—		29,505		1,962		10,672		—			42,139
Self-insurance reserves	—		5,797		1,747		16,387		—			23,931
Other accrued liabilities	446		5,388		693		1,865		—			8,392
	351,751		259,412		39,552		392,446		(843,677		)	199,484
Deferred Tax Liability	—		—		55,676		131,648		(29,935		)	157,389
Derivative Liability	15,115		10,687		—		—		—			25,802
Other Liabilities	20		4,688		—		11,887		—			16,595
Long-Term Debt:
Term debt	350,046		250,088		14,116		—		—			614,250
Notes	294,897		205,103		450,000		—		—			950,000
	644,943		455,191		464,116		—		—			1,564,250
Equity	153,556		314,864		130,169		1,178,114		(1,623,147		)	153,556
	$	1,165,385	$	1,044,842	$	689,513	$	1,714,095	$	(2,496,759	)	$	2,117,076

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	75,000	$	4,144	$	35,575	$	3,337	$	—		$	118,056
Receivables	6		115,972		67,829		552,633		(715,107		)	21,333
Inventories	—		1,968		1,898		22,214		—			26,080
Current deferred tax asset	—		5,430		800		3,445		—			9,675
Other current assets	599		4,443		14,266		7,764		(15,719		)	11,353
	75,605		131,957		120,368		589,393		(730,826		)	186,497
Property and Equipment (net)	447,724		976		243,208		813,855		—			1,505,763
Investment in Park	514,948		796,735		142,668		63,948		(1,518,299		)	—
Goodwill	9,061		—		117,810		111,218		—			238,089
Other Intangibles, net	—		—		16,683		22,788		—			39,471
Deferred Tax Asset	—		31,122		—		117		(31,239		)	—
Other Assets	25,210		10,002		6,657		2,938		—			44,807
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	259,850	$	188,818	$	17,632	$	262,029	$	(715,107	)	$	13,222
Deferred revenue	—		—		2,815		41,706		—			44,521
Accrued interest	4,637		3,223		15,341		—		—			23,201
Accrued taxes	4,609		—		—		30,591		(15,719		)	19,481
Accrued salaries, wages and benefits	—		21,596		1,101		6,503		—			29,200
Self-insurance reserves	—		5,757		1,742		16,154		—			23,653
Other accrued liabilities	1,146		2,993		181		1,201		—			5,521
	270,242		222,387		38,812		358,184		(730,826		)	158,799
Deferred Tax Liability	—		—		57,704		131,648		(31,239		)	158,113
Derivative Liability	15,610		11,052		—		—		—			26,662
Other Liabilities	—		7,858		—		3,432		—			11,290
Long-Term Debt:
Term debt	352,668		251,961		14,221		—		—			618,850
Notes	294,897		205,103		401,782		—		—			901,782
	647,565		457,064		416,003		—		—			1,520,632
Equity	139,131		272,431		134,875		1,110,993		(1,518,299		)	139,131
	$	1,072,548	$	970,792	$	647,394	$	1,604,257	$	(2,280,364	)	$	2,014,627

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	133,000	$	2,293	$	36,187	$	12,002	$	—		$	183,482
Receivables	12		124,478		70,303		589,797		(742,056		)	42,534
Inventories	—		1,578		2,090		25,648		—			29,316
Current deferred tax asset	—		3,708		816		3,661		—			8,185
Other current assets	995		3,558		1,275		3,798		—			9,626
	134,007		135,615		110,671		634,906		(742,056		)	273,143
Property and Equipment (net)	450,205		985		248,484		815,000		—			1,514,674
Investment in Park	548,241		824,356		143,548		81,719		(1,597,864		)	—
Goodwill	9,061		—		121,657		111,218		—			241,936
Other Intangibles, net	—		—		17,228		22,797		—			40,025
Deferred Tax Asset	—		30,316		—		90		(30,406		)	—
Other Assets	13,196		9,031		6,902		2,140		—			31,269
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	3,590	$	2,565	$	145	$	—	$	—		$	6,300
Accounts payable	281,983		159,781		7,802		314,367		(742,056		)	21,877
Deferred revenue	—		—		1,951		35,676		—			37,627
Accrued interest	2,677		1,593		5,983		—		—			10,253
Accrued taxes	5,413		29,386		—		4,594		—			39,393
Accrued salaries, wages and benefits	1		27,622		2,154		9,844		—			39,621
Self-insurance reserves	—		5,545		1,896		16,647		—			24,088
Other accrued liabilities	991		4,077		694		1,856		—			7,618
	294,655		230,569		20,625		382,984		(742,056		)	186,777
Deferred Tax Liability	—		—		61,143		126,866		(30,406		)	157,603
Derivative Liability	18,407		13,239		—		—		—			31,646
Other Liabilities	—		5,573		—		3,500		—			9,073
Long-Term Debt:
Term debt	354,534		253,294		14,297		—		—			622,125
Notes	294,897		205,103		401,606		—		—			901,606
	649,431		458,397		415,903		—		—			1,523,731
Equity	192,217		292,525		150,819		1,154,520		(1,597,864		)	192,217
	$	1,154,710	$	1,000,303	$	648,490	$	1,667,870	$	(2,370,326	)	$	2,101,047

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	85,161		$	158,384		$	76,325		$	516,002		$	(240,554	)	$	595,318
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,622			5,743			38,447			—			46,812
Operating expenses	1,248			77,814			17,561			322,580			(240,554		)	178,649
Selling, general and administrative	1,307			35,241			5,082			15,575			—			57,205
Depreciation and amortization	19,709			166			8,685			29,684			—			58,244
Gain on sale of other assets	—			—			—			—			—			—
(Gain) loss on impairment / retirement of fixed assets, net	532			1			229			713			—			1,475
	22,796			115,844			37,300			406,999			(240,554		)	342,385
Operating income (loss)	62,365			42,540			39,025			109,003			—			252,933
Interest expense (income), net	10,622			7,073			6,243			(2,492		)	—			21,446
Net effect of swaps	(666		)	(421		)	—			—			—			(1,087		)
Loss on early debt extinguishment	—			—			(246		)	—			—			(246		)
Unrealized / realized foreign currency gain	—			—			21,515			—			—			21,515
Other (income) expense	187			(2,415		)	531			1,697			—			—
(Income) loss from investment in affiliates	(114,725		)	(58,671		)	(14,629		)	(23,774		)	211,799			—
Income (loss) before taxes	166,947			96,974			25,611			133,572			(211,799		)	211,305
Provision (benefit) for taxes	5,045			12,717			1,836			29,805			—			49,403
Net income (loss)	$	161,902		$	84,257		$	23,775		$	103,767		$	(211,799	)	$	161,902
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,975			—			2,975			—			(2,975		)	2,975
Unrealized income (loss) on cash flow hedging derivatives	2,726			807			—			—			(807		)	2,726
Other comprehensive income (loss), (net of tax)	5,701			807			2,975			—			(3,782		)	5,701
Total Comprehensive Income (loss)	$	167,603		$	85,064		$	26,750		$	103,767		$	(215,581	)	$	167,603

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	83,285		$	161,866		$	82,265		$	509,467		$	(244,807	)	$	592,076
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,082			39,761			—			45,843
Operating expenses	1,669			76,468			19,042			318,022			(244,807		)	170,394
Selling, general and administrative	1,796			38,083			4,781			14,067			—			58,727
Depreciation and amortization	18,306			10			8,979			30,200			—			57,495
Gain on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	368			—			1			1,268			—			1,637
	22,139			114,561			38,885			394,575			(244,807		)	325,353
Operating income	61,146			47,305			43,380			114,892			—			266,723
Interest expense, net	10,858			6,901			9,731			(1,978		)	—			25,512
Net effect of swaps	810			567			—			—			—			1,377
Unrealized / realized foreign currency loss	—			—			(8,615		)	—			—			(8,615		)
Other (income) expense	188			(2,129		)	584			1,357			—			—
(Income) loss from investment in affiliates	(146,054		)	(78,714		)	(13,606		)	(40,904		)	279,278			—
Income (loss) before taxes	195,344			120,680			55,286			156,417			(279,278		)	248,449
Provision (benefit) for taxes	4,920			14,537			14,390			24,178			—			58,025
Net income (loss)	$	190,424		$	106,143		$	40,896		$	132,239		$	(279,278	)	$	190,424
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(699		)	—			(699		)	—			699			(699		)
Unrealized income (loss) on cash flow hedging derivatives	(2,761		)	(1,202		)	—			—			1,202			(2,761		)
Other comprehensive income (loss), (net of tax)	(3,460		)	(1,202		)	(699		)	—			1,901			(3,460		)
Total Comprehensive Income (loss)	$	186,964		$	104,941		$	40,197		$	132,239		$	(277,377	)	$	186,964

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	133,000		$	246,800		$	110,354		$	884,327		$	(375,683	)	$	998,798
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,625			71,561			—			82,887
Operating expenses	3,908			155,169			39,622			583,175			(375,683		)	406,191
Selling, general and administrative	4,170			79,408			9,841			31,807			—			125,226
Depreciation and amortization	34,194			269			15,187			59,875			—			109,525
Gain on sale of other assets	—			—			—			(921		)	—			(921		)
Loss (gain) on impairment / retirement of fixed assets, net	781			—			229			1,677			—			2,687
	43,053			237,547			73,504			747,174			(375,683		)	725,595
Operating income	89,947			9,253			36,850			137,153			—			273,203
Interest expense (income), net	31,354			21,438			27,644			(6,430		)	—			74,006
Net effect of swaps	(650		)	(381		)	—			—			—			(1,031		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency gain	—			—			22,597			—			—			22,597
Other (income) expense	562			(8,104		)	1,436			6,106			—			—
(Income) loss from investment in affiliates	(72,051		)	(33,249		)	(21,141		)	6,399			120,042			—
Income (loss) before taxes	130,732			29,549			(22,713		)	131,078			(120,042		)	148,604
Provision (benefit) for taxes	8,468			(1,186		)	(16,315		)	35,373			—			26,340
Net loss	$	122,264		$	30,735		$	(6,398	)	$	95,705		$	(120,042	)	$	122,264
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,279			—			2,279			—			(2,279		)	2,279
Unrealized income (loss) on cash flow hedging derivatives	(165		)	(10		)	—			—			10			(165		)
Other comprehensive income (loss), (net of tax)	2,114			(10		)	2,279			—			(2,269		)	2,114
Total Comprehensive Loss	$	124,378		$	30,725		$	(4,119	)	$	95,705		$	(122,311	)	$	124,378

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,528		$	255,595		$	117,508		$	877,450		$	(386,586	)	$	995,495
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,076			72,857			—			81,933
Operating expenses	4,500			150,320			40,569			579,532			(386,586		)	388,335
Selling, general and administrative	4,310			81,584			9,360			30,279			—			125,533
Depreciation and amortization	31,672			28			15,797			60,816			—			108,313
(Gain) on sale of other assets	—			—			—			(8,743		)	—			(8,743		)
Loss on impairment / retirement of fixed assets, net	404			—			479			1,383			—			2,266
	40,886			231,932			75,281			736,124			(386,586		)	697,637
Operating income (loss)	90,642			23,663			42,227			141,326			—			297,858
Interest expense, net	31,580			21,824			29,338			(5,715		)	—			77,027
Net effect of swaps	5,067			3,248			—			—			—			8,315
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			15,229			—			—			15,229
Other (income) expense	563			(6,645		)	1,967			4,115			—			—
(Income) loss from investment in affiliates	(104,833		)	(58,614		)	(18,318		)	(15,029		)	196,794			—
Income (loss) before taxes	137,090			51,069			13,394			157,955			(196,794		)	162,714
Provision (benefit) for taxes	8,402			(2,444		)	(1,596		)	29,664			—			34,026
Net loss	$	128,688		$	53,513		$	14,990		$	128,291		$	(196,794	)	$	128,688
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	1,194			—			1,194			—			(1,194		)	1,194
Unrealized income (loss) on cash flow hedging derivatives	7,803			1,836			—			—			(1,836		)	7,803
Other comprehensive income (loss), (net of tax)	8,997			1,836			1,194			—			(3,030		)	8,997
Total Comprehensive Loss	$	137,685		$	55,349		$	16,184		$	128,291		$	(199,824	)	$	137,685

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	153,941		$	287,282		$	120,538		$	1,013,346		$	(437,232	)	$	1,137,875
Costs and expenses:
Cost of food, merchandise, and games revenues	—			2,701			8,871			81,154			—			92,726
Operating expenses	5,411			188,453			46,823			686,745			(437,232		)	490,200
Selling, general and administrative	5,577			98,649			11,465			36,414			—			152,105
Depreciation and amortization	39,329			278			16,723			67,369			—			123,699
(Gain) on sale of other assets	—			—			—			(921		)	—			(921		)
Loss on impairment / retirement of fixed assets, net	801			—			229			1,930			—			2,960
	51,118			290,081			84,111			872,691			(437,232		)	860,769
Operating income	102,823			(2,799		)	36,427			140,655			—			277,106
Interest (income) expense, net	42,404			28,489			37,682			(8,679		)	—			99,896
Net effect of swaps	(1,527		)	(936		)	—			—			—			(2,463		)
Loss on early debt extinguishment	—			—			29,027			—			—			29,027
Unrealized / realized foreign currency loss	—			—			36,309			—			—			36,309
Other (income) expense	749			(12,716		)	3,148			8,819			—			—
(Income) loss from investment in affiliates	(50,775		)	(12,155		)	(20,261		)	23,905			59,286			—
Income (loss) before taxes	111,972			(5,481		)	(49,478		)	116,610			(59,286		)	114,337
Provision (benefit) for taxes	10,192			(10,875		)	(25,575		)	38,815			—			12,557
Net income (loss)	$	101,780		$	5,394		$	(23,903	)	$	77,795		$	(59,286	)	$	101,780
Other comprehensive income, (net of tax):
Cumulative foreign currency translation adjustment	3,841			—			3,841			—			(3,841		)	3,841
Unrealized income on cash flow hedging derivatives	2,768			1,002			—			—			(1,002		)	2,768
Other comprehensive income, (net of tax)	6,609			1,002			3,841			—			(4,843		)	6,609
Total Comprehensive Income (loss)	$	108,389		$	6,396		$	(20,062	)	$	77,795		$	(64,129	)	$	108,389

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	152,379		$	292,510		$	127,485		$	996,647		$	(444,321	)	$	1,124,700
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,404			83,651			—			93,055
Operating expenses	5,739			179,465			48,104			669,919			(444,321		)	458,906
Selling, general and administrative	5,964			97,351			10,618			34,423			—			148,356
Depreciation and amortization	35,896			40			17,581			68,891			—			122,408
(Gain) on sale of other assets	—			—			—			(15,368		)	—			(15,368		)
Loss (gain) on impairment / retirement of fixed assets, net	1,318			—			476			6,578			—			8,372
	48,917			276,856			86,183			848,094			(444,321		)	815,729
Operating income	103,462			15,654			41,302			148,553			—			308,971
Interest expense, net	43,667			29,195			39,310			(8,465		)	—			103,707
Net effect of swaps	4,964			3,177			—			—			—			8,141
Loss on early debt extinguishment	21,175			12,781			617			—			—			34,573
Unrealized / realized foreign currency loss	—			—			20,157			—			—			20,157
Other (income) expense	751			(9,033		)	2,766			5,516			—			—
(Income) loss from investment in affiliates	(95,234		)	(51,316		)	(18,019		)	(8,239		)	172,808			—
Income before taxes	128,139			30,850			(3,529		)	159,741			(172,808		)	142,393
Provision (benefit) for taxes	9,776			(8,530		)	(11,708		)	34,492			—			24,030
Net income	$	118,363		$	39,380		$	8,179		$	125,249		$	(172,808	)	$	118,363
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	2,814			—			2,814			—			(2,814		)	2,814
Unrealized income (loss) on cash flow hedging derivatives	9,740			2,385			—			—			(2,385		)	9,740
Other comprehensive income (loss), (net of tax)	12,554			2,385			2,814			—			(5,199		)	12,554
Total Comprehensive Income	$	130,917		$	41,765		$	10,993		$	125,249		$	(178,007	)	$	130,917

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	122,796		$	11,832		$	14,637		$	164,278		$	(1,824	)	$	311,719
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables receipts	—			13,794			—			(77,332		)	63,538			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(55,105		)	(257		)	(14,394		)	(67,257		)	—			(137,013		)
Net cash from investing activities	(55,105		)	13,537			(14,394		)	(143,212		)	63,538			(135,636		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(119,292		)	—			—			—			1,824			(117,468		)
Payment of debt issuance costs	—			—			(9,795		)	—			—			(9,795		)
Intercompany payables (payments) receipts	100,601			(26,534		)	3,486			(14,015		)	(63,538		)	—
Excess tax benefit from unit-based compensation expense	—			(785		)	—			—			—			(785		)
Net cash (for) financing activities	(18,691		)	(27,319		)	17,543			(14,015		)	(61,714		)	(104,196		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(569		)	—			—			(569		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	49,000			(1,950		)	17,217			7,051			—			71,318
Balance, beginning of period	75,000			4,144			35,575			3,337			—			118,056
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)				Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	140,022		$	40,030			$	10,864		$	139,212		$	(13,173	)	$	316,955
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			41,768				—			(55,439		)	13,671			—
Sale of other assets	—			—				—			15,297			—			15,297
Capital expenditures	(43,568		)	—				(5,517		)	(48,449		)	—			(97,534		)
Net cash from (for) investing activities	(43,568		)	41,768				(5,517		)	(88,591		)	13,671			(82,237		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			—	14,478			—			—			630,000
Note borrowings	294,897			205,103				—			—			—			500,000
Payment of debt issuance costs	(14,332		)	(8,028		)		(452		)	—			—			(22,812		)
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)		(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(107,013		)	2,555				(13,173		)	—			13,173			(104,458		)
Intercompany payables (payments) receipts	134,695			(73,536		)		(5,656		)	(41,832		)	(13,671		)	—
Exercise of limited partnership unit options	—			43				—			—			—			43
Excess tax benefit from unit-based compensation expense	—			(148		)		—			—			—			(148		)
Net cash (for) financing activities	11,546			(79,949		)		(19,317		)	(41,832		)	(498		)	(130,050		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—				(16		)	—			—			(16		)
CASH AND CASH EQUIVALENTS
Net increase for the period	108,000			1,849				(13,986		)	8,789			—			104,652
Balance, beginning of period	25,000			444				50,173			3,213			—			78,830
Balance, end of period	$	133,000		$	2,293			$	36,187		$	12,002		$	—		$	183,482

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 28, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	145,424		$	(4,845	)	$	16,902		$	163,482		$	(2,966	)	$	317,997
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			16,049			—			(77,029		)	60,980			—
Sale of other assets	—			—			—			1,377			—			1,377
Capital expenditures	(67,790		)	(257		)	(18,851		)	(73,174		)	—			(160,072		)
Net cash (for) investing activities	(67,790		)	15,792			(18,851		)	(148,826		)	60,980			(158,695		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Note borrowings	—			—			450,000			—			—			450,000
Term debt payments, including amounts paid for early termination	(5,457		)	(3,898		)	(220		)	—			—			(9,575		)
Note payments, including amounts paid for early termination	—			—			(426,148		)	—			—			(426,148		)
Distributions paid	(159,433		)	—			—			—			2,966			(156,467		)
Intercompany payables (payments) receipts	78,459			(7,234		)	6,025			(16,270		)	(60,980		)	—
Excess tax benefit from unit-based compensation expense	—			218			—			—			—			218
Payment of debt issuance costs	(203		)	(142		)	(9,887		)	—			—			(10,232		)
Exercise of limited partnership unit options	—			10			—			—			—			10
Net cash (for) financing activities	(86,634		)	(11,046		)	19,770			(16,270		)	(58,014		)	(152,194		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(1,216		)	—			—			(1,216		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(9,000		)	(99		)	16,605			(1,614		)	—			5,892
Balance, beginning of period	133,000			2,293			36,187			12,002			—			183,482
Balance, end of period	$	124,000		$	2,194		$	52,792		$	10,388		$	—		$	189,374

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Twelve Months Ended September 29, 2013

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	212,330		$	(34,618	)	$	19,455		$	140,854		$	(13,173	)	$	324,848
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables payments	—			46,143			—			(60,099		)	13,956			—
Sale of other assets	—			—			—			30,182			—			30,182
Capital expenditures	(47,938		)	(1		)	(5,532		)	(63,290		)	—			(116,761		)
Net cash from (for) investing activities	(47,938		)	46,142			(5,532		)	(93,207		)	13,956			(86,579		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt borrowings	359,022			256,500			14,478			—			—			630,000
Note borrowings	294,897			205,103			—			—			—			500,000
Term debt payments, including amounts paid for early termination	(655,723		)	(462,438		)	(14,514		)	—			—			(1,132,675		)
Distributions/dividends (paid) received	(129,277		)	2,571			(13,173		)	—			13,173			(126,706		)
Intercompany payables (payments) receipts	71,020			(6,760		)	(4,098		)	(46,206		)	(13,956		)	—
Payment of debt issuance costs	(14,331		)	(8,028		)	(453		)	—			—			(22,812		)
Exercise of limited partnership unit options	—			43			—			—			—			43
Excess tax benefit from unit-based compensation	—			1,515			—			—			—			1,515
Net cash from (for) financing activities	(74,392		)	(11,494		)	(17,760		)	(46,206		)	(783		)	(150,635		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(254		)	—			—			(254		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	90,000			30			(4,091		)	1,441			—			87,380
Balance, beginning of period	43,000			2,263			40,278			10,561			—			96,102
Balance, end of period	$	133,000		$	2,293		$	36,187		$	12,002		$	—		$	183,482