XML 69 R46.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information (Tables) | 12 Months Ended
--- | ---
Sep. 27, 2025
Segment Reporting [Abstract] |
Disclosure by reportable segment and reconciliation of total operating segment information | 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:
|  | Year Ended |
|  | September 27, |  |  | September 28, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Revenues: |  |  |  |  |  |  |  |  |
Propane |  | $ | 1,265,494 |  |  | $ | 1,150,034 |  |  | $ | 1,232,138 |
Fuel oil and refined fuels |  |  | 67,352 |  |  |  | 73,783 |  |  |  | 92,127 |
Natural gas and electricity |  |  | 24,593 |  |  |  | 25,877 |  |  |  | 31,160 |
Subtotal |  |  | 1,357,439 |  |  |  | 1,249,694 |  |  |  | 1,355,425 |
All other |  |  | 75,079 |  |  |  | 77,478 |  |  |  | 73,769 |
Total revenues |  | $ | 1,432,518 |  |  | $ | 1,327,172 |  |  | $ | 1,429,194 |
Cost of Products Sold: (a) |  |  |  |  |  |  |  |  |
Propane |  | $ | 493,611 |  |  | $ | 443,596 |  |  | $ | 489,808 |
Fuel oil and refined fuels |  |  | 40,997 |  |  |  | 49,714 |  |  |  | 65,572 |
Natural gas and electricity |  |  | 14,554 |  |  |  | 13,782 |  |  |  | 19,100 |
Subtotal |  |  | 549,162 |  |  |  | 507,092 |  |  |  | 574,480 |
All other |  |  | 14,544 |  |  |  | 15,104 |  |  |  | 15,651 |
Total cost of products sold |  | $ | 563,706 |  |  | $ | 522,196 |  |  | $ | 590,131 |
Payroll & Payroll Benefit Expenses: (b) |  |  |  |  |  |  |  |  |
Propane |  | $ | 170,491 |  |  | $ | 163,881 |  |  | $ | 169,785 |
Fuel oil and refined fuels |  |  | 14,887 |  |  |  | 9,057 |  |  |  | 10,193 |
Natural gas and electricity |  |  | 1,204 |  |  |  | 1,279 |  |  |  | 1,490 |
Subtotal |  |  | 186,582 |  |  |  | 174,217 |  |  |  | 181,468 |
All other |  |  | 61,478 |  |  |  | 58,526 |  |  |  | 55,941 |
Corporate |  |  | 84,133 |  |  |  | 79,977 |  |  |  | 77,306 |
Total payroll & payroll benefit expenses |  | $ | 332,193 |  |  | $ | 312,720 |  |  | $ | 314,715 |
Vehicle: (c) |  |  |  |  |  |  |  |  |
Propane |  | $ | 73,819 |  |  | $ | 71,118 |  |  | $ | 71,588 |
Fuel oil and refined fuels |  |  | 3,233 |  |  |  | 3,089 |  |  |  | 3,377 |
Natural gas and electricity |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  |  | 77,052 |  |  |  | 74,207 |  |  |  | 74,965 |
All other |  |  | 3,346 |  |  |  | 3,196 |  |  |  | 3,117 |
Corporate |  |  | 14,198 |  |  |  | 15,745 |  |  |  | 16,647 |
Total vehicle expenses |  | $ | 94,596 |  |  | $ | 93,148 |  |  | $ | 94,729 |
Other Controllable Expenses: (d) |  |  |  |  |  |  |  |  |
Propane |  | $ | 108,098 |  |  | $ | 106,998 |  |  | $ | 102,403 |
Fuel oil and refined fuels |  |  | 3,707 |  |  |  | 4,432 |  |  |  | 5,379 |
Natural gas and electricity |  |  | 3,744 |  |  |  | 3,657 |  |  |  | 4,521 |
Subtotal |  |  | 115,549 |  |  |  | 115,087 |  |  |  | 112,303 |
All other |  |  | 21,109 |  |  |  | 20,597 |  |  |  | 23,948 |
Corporate |  |  | 27,012 |  |  |  | 25,199 |  |  |  | 23,937 |
Total other controllable expenses |  | $ | 163,670 |  |  | $ | 160,883 |  |  | $ | 160,188 |
|  | Year Ended |
|  | September 27, |  |  | September 28, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Propane |  | $ | 52,082 |  |  | $ | 48,232 |  |  | $ | 47,392 |
Fuel oil and refined fuels |  |  | 1,074 |  |  |  | 1,289 |  |  |  | 1,674 |
Natural gas and electricity |  |  | — |  |  |  | — |  |  |  | 3 |
Subtotal |  |  | 53,156 |  |  |  | 49,521 |  |  |  | 49,069 |
All other |  |  | 12,511 |  |  |  | 10,883 |  |  |  | 7,978 |
Corporate |  |  | 6,375 |  |  |  | 6,571 |  |  |  | 5,535 |
Total depreciation and amortization |  | $ | 72,042 |  |  | $ | 66,975 |  |  | $ | 62,582 |
Operating income: |  |  |  |  |  |  |  |  |
Propane |  | $ | 367,393 |  |  | $ | 316,209 |  |  | $ | 351,162 |
Fuel oil and refined fuels |  |  | 3,454 |  |  |  | 6,202 |  |  |  | 5,932 |
Natural gas and electricity |  |  | 5,091 |  |  |  | 7,159 |  |  |  | 6,046 |
Reportable segment operating income |  |  | 375,938 |  |  |  | 329,570 |  |  |  | 363,140 |
Reconciliation to net income: |  |  |  |  |  |  |  |  |
Corporate and all other operating (loss) |  |  | (169,627 | ) |  |  | (158,320 | ) |  |  | (156,291 | )
Loss on debt extinguishment |  |  | — |  |  |  | (215 | ) |  |  | — |
Interest expense, net |  |  | (76,265 | ) |  |  | (74,590 | ) |  |  | (73,393 | )
Other, net |  |  | (22,128 | ) |  |  | (21,537 | ) |  |  | (9,036 | )
Provision for income taxes |  |  | (1,348 | ) |  |  | (734 | ) |  |  | (668 | )
Net income |  | $ | 106,570 |  |  | $ | 74,174 |  |  | $ | 123,752 |
The CODM uses the following expense categories to manage the resources of the Partnership. These expense categories and amounts align with the segment-level information that is regularly provided to the CODM: (1) The cost of products sold reported in the consolidated statements of operations represents the weighted average unit cost of propane, fuel oil and refined fuels, and natural gas and electricity sold, including transportation costs to deliver products from the Partnership’s supply points to storage locations or to the Partnership’s customer service centers. Cost of products sold also includes the cost of appliances and related parts sold or installed computed on a basis that approximates the average cost of the products. Cost of products sold does not include depreciation and amortization expense. (2) Payroll and payroll benefits expenses represent the compensation and benefit costs for field and direct operating support personnel. (3) Vehicle expenses represent the costs of operating and maintaining the Partnership’s vehicle fleet and include fuel, lease expenses and maintenance and repair costs. (4) Other controllable expenses include all other costs such as self-insurance, professional services and all other expenses not included within (1), (2) or (3) above.
|  | As of |
|  | September 27, |  |  | September 28, |
|  | 2025 |  |  | 2024 |
Assets: |  |  |  |  |  |
Propane |  | $ | 1,933,532 |  |  | $ | 1,912,465 |
Fuel oil and refined fuels |  |  | 41,078 |  |  |  | 43,579 |
Natural gas and electricity |  |  | 9,973 |  |  |  | 10,248 |
Reportable segment assets |  |  | 1,984,583 |  |  |  | 1,966,292 |
All other |  |  | 260,393 |  |  |  | 250,445 |
Corporate |  |  | 51,298 |  |  |  | 56,024 |
Total assets |  | $ | 2,296,274 |  |  | $ | 2,272,761 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration