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Segment Information | 9 Months Ended
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Jun. 25, 2022
Segment Reporting [Abstract] |
Segment Information | 18. Segment Information The Partnership manages and evaluates its operations in four operating segments, three of which are reportable segments: Propane, Fuel Oil and Refined Fuels, and Natural Gas and Electricity. The chief operating decision maker evaluates performance of the operating segments using a number of performance measures, including gross margins and income before interest expense and provision for income taxes (operating profit). Costs excluded from these profit measures are captured in Corporate and include corporate overhead expenses not allocated to the operating segments. Unallocated corporate overhead expenses include all costs of back office support functions that are reported as general and administrative expenses within the condensed consolidated statements of operations. In addition, certain costs associated with field operations support that are reported in operating expenses within the condensed consolidated statements of operations, including purchasing, training and safety, are not allocated to the individual operating segments. Thus, operating profit for each operating segment includes only the costs that are directly attributable to the operations of the individual segment. The accounting policies of the operating segments are otherwise the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Partnership’s Annual Report on Form 10-K for the fiscal year ended September 25, 2021. The propane segment is primarily engaged in the retail distribution of propane to residential, commercial, industrial, agricultural and government customers and, to a lesser extent, wholesale distribution to large industrial end users. In the residential, commercial and government markets, propane is used primarily for space heating, water heating, cooking and clothes drying. Industrial customers use propane generally as a motor fuel burned in internal combustion engines that power over-the-road vehicles, forklifts and stationary engines, to fire furnaces and as a cutting gas. In the agricultural markets, propane is primarily used for tobacco curing, crop drying, poultry brooding and weed control. In addition, the Partnership’s equity investment in Oberon is included within the propane segment. The fuel oil and refined fuels segment is primarily engaged in the retail distribution of fuel oil, diesel, kerosene and gasoline to residential and commercial customers for use primarily as a source of heat in homes and buildings. The natural gas and electricity segment is engaged in the marketing of natural gas and electricity to residential and commercial customers in the deregulated energy markets of New York and Pennsylvania. Under this operating segment, the Partnership owns the relationship with the end consumer and has agreements with the local distribution companies to deliver the natural gas or electricity from the Partnership’s suppliers to the customer. Activities in the “all other” category include the Partnership’s service business, which is primarily engaged in the sale, installation and servicing of a wide variety of home comfort equipment, particularly in the areas of heating and ventilation. In addition, the Partnership’s equity investment in IH and investments in biodigester systems for the production of RNG are included within “all other”. The following table presents certain data by reportable segment and provides a reconciliation of total operating segment information to the corresponding consolidated amounts for the periods presented:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | June 25, |  |  | June 26, |  |  | June 25, |  |  | June 26, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Propane |  | $ | 260,634 |  |  | $ | 208,689 |  |  | $ | 1,108,572 |  |  | $ | 958,641 |
Fuel oil and refined fuels |  |  | 19,274 |  |  |  | 11,314 |  |  |  | 83,741 |  |  |  | 59,075 |
Natural gas and electricity |  |  | 7,547 |  |  |  | 5,835 |  |  |  | 31,165 |  |  |  | 23,461 |
All other |  |  | 12,877 |  |  |  | 12,247 |  |  |  | 40,356 |  |  |  | 39,337 |
Total revenues |  | $ | 300,332 |  |  | $ | 238,085 |  |  | $ | 1,263,834 |  |  | $ | 1,080,514 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Propane |  | $ | 52,178 |  |  | $ | 41,460 |  |  | $ | 340,139 |  |  | $ | 297,155 |
Fuel oil and refined fuels |  |  | (308 | ) |  |  | (433 | ) |  |  | 8,571 |  |  |  | 9,800 |
Natural gas and electricity |  |  | 792 |  |  |  | 1,103 |  |  |  | 5,912 |  |  |  | 6,466 |
All other |  |  | (5,998 | ) |  |  | (5,117 | ) |  |  | (16,790 | ) |  |  | (14,410 | )
Corporate |  |  | (31,893 | ) |  |  | (29,010 | ) |  |  | (93,844 | ) |  |  | (86,165 | )
Total operating income |  |  | 14,771 |  |  |  | 8,003 |  |  |  | 243,988 |  |  |  | 212,846 |
Reconciliation to net (loss) income: |  |  |  |  |  |  |  |  |  |  |  |
Loss on debt extinguishment |  |  | — |  |  |  | 16,029 |  |  |  | — |  |  |  | 16,029 |
Interest expense, net |  |  | 15,004 |  |  |  | 16,737 |  |  |  | 45,557 |  |  |  | 52,964 |
Other, net |  |  | 2,031 |  |  |  | 1,085 |  |  |  | 4,395 |  |  |  | 3,745 |
Provision for income taxes |  |  | 271 |  |  |  | 173 |  |  |  | 171 |  |  |  | 936 |
Net (loss) income |  | $ | (2,535 | ) |  | $ | (26,021 | ) |  | $ | 193,865 |  |  | $ | 139,172 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Propane |  | $ | 12,054 |  |  | $ | 25,083 |  |  | $ | 37,552 |  |  | $ | 75,762 |
Fuel oil and refined fuels |  |  | 420 |  |  |  | 429 |  |  |  | 1,276 |  |  |  | 1,225 |
Natural gas and electricity |  |  | 6 |  |  |  | 6 |  |  |  | 16 |  |  |  | 18 |
All other |  |  | 45 |  |  |  | 47 |  |  |  | 135 |  |  |  | 141 |
Corporate |  |  | 1,484 |  |  |  | 1,689 |  |  |  | 5,377 |  |  |  | 5,471 |
Total depreciation and amortization |  | $ | 14,009 |  |  | $ | 27,254 |  |  | $ | 44,356 |  |  | $ | 82,617 |
|  | As of |
|  | June 25, |  |  | September 25, |
|  | 2022 |  |  | 2021 |
Assets: |  |  |  |  |  |
Propane |  | $ | 1,960,627 |  |  | $ | 1,935,399 |
Fuel oil and refined fuels |  |  | 52,229 |  |  |  | 47,039 |
Natural gas and electricity |  |  | 11,040 |  |  |  | 11,275 |
All other |  |  | 47,818 |  |  |  | 17,767 |
Corporate |  |  | 43,681 |  |  |  | 40,250 |
Total assets |  | $ | 2,115,395 |  |  | $ | 2,051,730 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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