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Derivatives and Hedging-Disclosures and Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2017

Partnership's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The Partnership’s financial assets and liabilities measured at fair value on a recurring basis are listed on the following table.

(In thousands)								Fair Value Measurements at Reporting Date Using:
Derivatives Not Designated as Hedging Instruments								Quoted Prices in Active Markets for Identical Assets				Significant Other Observable Inputs
Under FASB ASC 815-10		Balance Sheet Location		Total				Level 1				Level 2
Asset Derivatives at June 30, 2017
Commodity contracts		Fair asset and fair liability value of derivative instruments		$	8,378			$	—			$	8,378
Commodity contracts		Long-term derivative assets included in the deferred charges and other assets, net and other long-term liabilities balances			1,096				—				1,096
Commodity contract assets at June 30, 2017				$	9,474			$	—			$	9,474
Liability Derivatives at June 30, 2017
Commodity contracts		Fair liability and fair asset value of derivative instruments		$	(13,138	)		$	—			$	(13,138	)
Commodity contracts		Cash collateral			—				—				—
Commodity contracts		Long-term derivative liabilities included in the deferred charges and other assets, net and other long-term liabilities balances			(1,232	)			—				(1,232	)
Commodity contract liabilities at June 30, 2017				$	(14,370	)		$	—			$	(14,370	)
Asset Derivatives at September 30, 2016
Commodity contracts		Fair asset and fair liability value of derivative instruments		$	11,692			$	—			$	11,692
Commodity contracts		Long-term derivative assets included in the other long-term liabilities balance			1,369				481				888
Commodity contract assets at September 30, 2016				$	13,061			$	481			$	12,580
Liability Derivatives at September 30, 2016
Commodity contracts		Fair liability and fair asset value of derivative instruments		$	(9,990	)		$	(1,603	)		$	(8,387	)
Commodity contracts		Cash collateral			—				—				—
Commodity contracts		Long-term derivative liabilities included in the other long-term liabilities balance			(565	)			(484	)			(81	)
Commodity contract liabilities at September 30, 2016				$	(10,555	)		$	(2,087	)		$	(8,468	)

Partnership's Derivatives Assets (Liabilities) Offset by Counterparty

The Partnership’s derivative assets (liabilities) offset by counterparty and subject to an enforceable master netting arrangement are listed on the following table.

(In thousands)														Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)		Gross Assets Recognized				Gross Liabilities Offset in the Statement of Financial Position				Net Assets (Liabilities) Presented in the Statement of Financial Position				Financial Instruments				Cash Collateral Received				Net Amount
Fair asset value of derivative instruments		$	—			$	—			$	—			$	—			$	—			$	—
Long-term derivative assets included in deferred charges and other assets, net			174				(165	)			9				—				—				9
Fair liability value of derivative instruments			8,378				(13,138	)			(4,760	)			—				—				(4,760	)
Long-term derivative liabilities included in other long-term liabilities, net			922				(1,067	)			(145	)											(145	)
Total at June 30, 2017		$	9,474			$	(14,370	)		$	(4,896	)		$	—			$	—			$	(4,896	)
Fair asset value of derivative instruments		$	7,716			$	(3,729	)		$	3,987			$	—			$	—			$	3,987
Long-term derivative assets included in other long-term assets, net			888				(81	)			807				—				—				807
Fair liability value of derivative instruments			3,976				(6,261	)			(2,285	)			—				—				(2,285	)
Long-term derivative liabilities included in other long-term liabilities, net			481				(484	)			(3	)			—				—				(3	)
Total at September 30, 2016		$	13,061			$	(10,555	)		$	2,506			$	—			$	—			$	2,506

Partnership's Derivatives Assets (Liabilities) Offset by Counterparty

The Partnership’s derivative assets (liabilities) offset by counterparty and subject to an enforceable master netting arrangement are listed on the following table.

(In thousands)														Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)		Gross Assets Recognized				Gross Liabilities Offset in the Statement of Financial Position				Net Assets (Liabilities) Presented in the Statement of Financial Position				Financial Instruments				Cash Collateral Received				Net Amount
Fair asset value of derivative instruments		$	—			$	—			$	—			$	—			$	—			$	—
Long-term derivative assets included in deferred charges and other assets, net			174				(165	)			9				—				—				9
Fair liability value of derivative instruments			8,378				(13,138	)			(4,760	)			—				—				(4,760	)
Long-term derivative liabilities included in other long-term liabilities, net			922				(1,067	)			(145	)											(145	)
Total at June 30, 2017		$	9,474			$	(14,370	)		$	(4,896	)		$	—			$	—			$	(4,896	)
Fair asset value of derivative instruments		$	7,716			$	(3,729	)		$	3,987			$	—			$	—			$	3,987
Long-term derivative assets included in other long-term assets, net			888				(81	)			807				—				—				807
Fair liability value of derivative instruments			3,976				(6,261	)			(2,285	)			—				—				(2,285	)
Long-term derivative liabilities included in other long-term liabilities, net			481				(484	)			(3	)			—				—				(3	)
Total at September 30, 2016		$	13,061			$	(10,555	)		$	2,506			$	—			$	—			$	2,506

Partnership's Effect on Derivative Instruments on the Statement of Operations

(In thousands)
The Effect of Derivative Instruments on the Statement of Operations
				Amount of (Gain) or Loss Recognized
Derivatives Not Designated as Hedging Instruments Under FASB ASC 815-10		Location of (Gain) or Loss Recognized in Income on Derivative		Three Months Ended June 30, 2017				Three Months Ended June 30, 2016				Nine Months Ended June 30, 2017				Nine Months Ended June 30, 2016
Commodity contracts		Cost of product (a)		$	1,092			$	8,177			$	4,073			$	16,978
Commodity contracts		Cost of installations and service (a)		$	—			$	72			$	(526	)		$	848
Commodity contracts		Delivery and branch expenses (a)		$	27			$	150			$	(422	)		$	1,029
Commodity contracts		(Increase) / decrease in the fair value of derivative instruments (b)		$	3,135			$	(11,283	)		$	7,026			$	(20,071	)

(a) Represents realized closed positions and includes the cost of options as they expire.

(b) Represents the change in value of unrealized open positions and expired options.

X

- Definition

Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

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- Definition

Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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- Definition

Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

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