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Goodwill and Other Intangible Assets
 12 Months Ended
Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

7. Goodwill and Other Intangible Assets

The Partnership’s fiscal 2024 and fiscal 2023 annual goodwill impairment review resulted in no adjustments to the carrying amount of goodwill.

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

 

 

 

Propane

 

 

Fuel oil and
refined fuels

 

 

Natural gas
and electricity

 

 

All other

 

 

Total

 

Balance as of September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

1,105,179

 

 

$

10,900

 

 

$

7,900

 

 

$

31,259

 

 

$

1,155,238

 

Accumulated adjustments

 

 

—

 

 

 

(6,462

)

 

 

—

 

 

 

—

 

 

 

(6,462

)

 

 

$

1,105,179

 

 

$

4,438

 

 

$

7,900

 

 

$

31,259

 

 

$

1,148,776

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2024 Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill acquired (1)

 

$

2,476

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of September 28, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

1,107,655

 

 

$

10,900

 

 

$

7,900

 

 

$

31,259

 

 

$

1,157,714

 

Accumulated adjustments

 

 

—

 

 

 

(6,462

)

 

 

—

 

 

 

—

 

 

 

(6,462

)

 

 

$

1,107,655

 

 

$

4,438

 

 

$

7,900

 

 

$

31,259

 

 

$

1,151,252

 

 

Other intangible assets consist of the following:

 

 

 

As of

 

 

 

September 28,

 

 

September 30,

 

 

 

2024

 

 

2023

 

Customer relationships (1)

 

$

577,486

 

 

$

572,347

 

Non-compete agreements (1)

 

 

41,955

 

 

 

40,840

 

Other

 

 

7,067

 

 

 

7,067

 

 

 

 

626,508

 

 

 

620,254

 

Less: accumulated amortization

 

 

 

 

 

 

Customer relationships

 

 

(513,053

)

 

 

(502,436

)

Non-compete agreements

 

 

(36,000

)

 

 

(35,011

)

Other

 

 

(2,943

)

 

 

(2,254

)

 

 

 

(551,996

)

 

 

(539,701

)

 

 

$

74,512

 

 

$

80,553

 

 

(1)
Reflects the impact from acquisitions (See Note 4).

 

Aggregate amortization expense related to other intangible assets for fiscal 2024, 2023 and 2022 was $12,294, $10,906 and $7,572, respectively. Aggregate amortization expense for each of the five succeeding fiscal years related to other intangible assets held as of September 28, 2024 is estimated as follows: 2025: $9,512; 2026: $8,756; 2027: $8,756; 2028: $8,358; and 2029: $7,454.