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Condensed Financial Information of Registrant

12 Months Ended

Sep. 30, 2012

Condensed Financial Information of Registrant [Abstract]

Condensed Financial Information of Registrant

Schedule I

STAR GAS PARTNERS, L.P. (PARENT COMPANY)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT


	September 30,
(in thousands)	2012		2011
Balance Sheets

ASSETS
Current assets
Cash and cash equivalents	$	317	$	294
Prepaid expenses and other current assets		268		522

Total current assets		585		816

Investment in subsidiaries (a)		387,799		400,048
Deferred charges and other assets, net		2,997		3,328

Total Assets	$	391,381	$	404,192

LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities
Accrued expenses	$	4,706	$	4,969

Total current liabilities		4,706		4,969

Long-term debt (b)		124,357		124,263
Other long-term liabilities		2,173		2,327
Partners’ capital		260,145		272,633

Total Liabilities and Partners’ Capital	$	391,381	$	404,192

(a)	Investments in Star Acquisitions, Inc. and subsidiaries are recorded in accordance with the equity method of accounting.

(b)	Scheduled principal repayments of long-term debt during each of the next five fiscal years ending September 30, are as follows: 2013—$0; 2014—$0; 2015—$0; 2016—$0; 2017—$0; thereafter —$125,000. The $125,000 8.875% Senior Notes mature in December 2017.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT


	Years Ended September 30,
(in thousands)	2012			2011			2010
Statements of Operations
Revenues	$	—		$	—		$	—
General and administrative expenses		2,019			2,026			2,231

Operating loss		(2,019	)		(2,026	)		(2,231	)
Net interest expense		(11,188	)		(11,638	)		(10,299	)
Amortization of debt issuance costs		(330	)		(501	)		(336	)
Gain (loss) on redemption of debt		—			(1,700	)		(1,132	)

Net loss before equity income		(13,537	)		(15,865	)		(13,998	)
Equity income of Star Petro Inc. and subs		39,526			40,209			42,426

Net income	$	25,989		$	24,344		$	28,428

CONDENSED FINANCIAL INFORMATION OF REGISTRANT


	Years Ended September 30,
(in thousands)	2012			2011			2010
Statements of Cash Flows

Cash flows provided by (used in) operating activities:
Net cash provided by (used in) operating activities (a)	$	39,196		$	(4,813	)	$	104,625


Cash flows provided by (used in) investing activities:

Net cash provided by (used in) investing activities		—			—			—


Cash flows provided by (used in) financing activities:
Repayment of debt		—			(82,499	)		(50,854	)
Proceeds from the issuance of debt		—			124,188			—
Debt extinguishment costs		—			(1,409	)		—
Distributions		(19,525	)		(20,677	)		(20,353	)
Unit repurchase		(19,648	)		(10,949	)		(33,234	)
Increase in deferred charges		—			(3,777	)		—

Net cash provided by (used in) financing activities		(39,173	)		4,877			(104,441	)

Net increase in cash		23			64			184
Cash and cash equivalents at beginning of period		294			230			46

Cash and cash equivalents at end of period	$	317		$	294		$	230



(a) Includes distributions from subsidiaries	$	39,173		$	32,579		$	117,310

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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