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Acquisition of Inergy Propane (Tables) | 12 Months Ended
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Sep. 29, 2012
Acquisition of Inergy Propane [Abstract] |
Preliminary purchase price allocation | The consolidated balance sheet at September 29, 2012 reflects a preliminary allocation of the purchase price to the assets acquired and liabilities assumed. The Partnership is in the process of obtaining information required to determine the fair values of certain assets and liabilities acquired, principally non-current tangible and intangible assets. The Partnership expects to finalize the determination of the Acquisition Date fair value amounts by July 31, 2013. The preliminary purchase price allocation as of August 1, 2012 is as follows:
Assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 7,964 |
Accounts receivable |  |  | 36,076 |
Inventories |  |  | 30,457 |
Other current assets |  |  | 2,832 |
Current assets acquired |  |  | 77,329 |
Property, plant & equipment |  |  | 651,156 |
Customer relationships (estimated useful life of 10 years) |  |  | 402,950 |
Tradenames (estimated useful life of 4 years) |  |  | 3,100 |
Non-compete agreements (estimated useful life of 6 years) |  |  | 24,909 |
Goodwill |  |  | 814,648 |
Other assets |  |  | 2,151 |
Total assets acquired |  | $ | 1,976,243 |
Liabilities assumed: |  |  |  |
Accounts payable |  | $ | (16 | )
Accrued employment and benefit costs |  |  | (2,149 | )
Customer deposits and advances |  |  | (48,469 | )
Other current liabilities |  |  | (18,613 | )
Other noncurrent liabilities |  |  | (16,081 | )
Total liabilities assumed |  |  | (85,328 | )
Total |  | $ | 1,890,915 |
Unaudited pro forma combined financial information | The following presents unaudited pro forma combined financial information as if the Inergy Propane Acquisition had occurred on September 26, 2010, the first day of the Partnership’s 2011 fiscal year. The unaudited pro forma combined financial information was prepared under the assumption that the net proceeds from the issuance of the 6,300,000 Common Units on August 14, 2012 (described in Note. 14) were used to fund the portion of the Inergy Propane Acquisition that was originally financed through the 364-Day Facility (which, as described above, was repaid two weeks after the acquisition date) As a result, the common units were assumed to have been issued on September 26, 2010, and, in turn, the pro forma results for the fiscal year ended September 29, 2012 do not include any interest costs associated with the 364-Day Facility.
|  | Year Ended |
|  | September 29, 2012 |  |  | September 24, 2011 |
Revenues |  | $ | 1,842,698 |  |  | $ | 2,242,876 |
Net income |  | $ | 20,288 |  |  | $ | 123,751 |
Income per common unit |  |  |  |  |  |  |  |
Basic |  | $ | 0.36 |  |  | $ | 2.21 |
Diluted |  | $ | 0.36 |  |  | $ | 2.20 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=6909870&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 54 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 55 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 68 -Subparagraph r(2, 3) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 805 -SubTopic 30 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6911361&loc=d3e6927-128479 + Details
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