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Investment in and Acquisition of Businesses | 12 Months Ended
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Sep. 25, 2021
Business Combinations [Abstract] |
Investment in and Acquisition of Businesses |
4. | Investment in and Acquisition of Businesses
On September 17, 2020, the Operating Partnership purchased a 39% equity stake in Oberon Fuels, Inc. (“Oberon”) based in San Diego, California and also purchased a secured convertible note issued by Oberon. Oberon, a development-stage producer of low carbon, renewable dimethyl ether (“rDME”) transportation fuel, is focused on the research and development of practical and affordable pathways to zero-emission transportation through its proprietary production process. Oberon's rDME fuel is a cost-effective, low-carbon, zero-soot alternative to petroleum diesel, and when blended with propane can significantly reduce its carbon intensity. Additionally, rDME is a cost-effective carrier for hydrogen, making it easy to deliver this renewable fuel for the growing hydrogen fuel cell vehicle industry. Pursuant to the agreements, as amended, between the parties, the Operating Partnership also committed to provide additional funding to support continued development efforts to begin commercializing a rDME/propane blended product. During fiscal 2021, the Operating Partnership purchased additional secured convertible notes issued by Oberon as they reached certain development milestones as stated in the agreement. These investments were made in line with the Partnership’s Go Green with Suburban Propane corporate pillar, which focuses on innovative solutions to reduce greenhouse gas emissions. The investment in Oberon is being accounted for under the equity method of accounting, included within “Other assets” within the consolidated balance sheets and its results are included within “Other, net” within the consolidated statements of operations. Pursuant to the Partnership’s strategic growth initiatives, the Operating Partnership acquired the propane assets and operations of various propane retailers in each of the last three fiscal years as summarized below. The purchase price allocations and results of operations of the acquired businesses were not material to the Partnership’s consolidated financial position and statement of operations.
Fiscal Year |  | Total consideration (1) |  |
2021 |  | $ | 9,813 |  | (2)
2020 |  | $ | 27,065 |  | (3)
2019 |  | $ | 22,850 |  | (4)
| (1) | Total consideration includes non-compete consideration, which will be paid over the respective non-compete periods subject to compliance with the terms of the respective agreements, and excludes working capital adjustments.
| (2) | Includes an investment in Oberon and one acquisition of a propane retailer located in North Carolina.
| (3) | Includes an investment in Oberon and two acquisitions of propane retailers located in Georgia and California.
| (4) | Includes three acquisitions of propane retailers located in Texas, Florida and the West Coast. Total consideration includes the issuance of $1,600 in Common Units.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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