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Nature of Operations |
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Three Months Ended December 31, | ||||||||
2013 | 2012 | |||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 105,560 | $ | 86,241 | ||||
Weighted average Common Units outstanding—basic (thousands) | 92,847 | 92,820 | ||||||
Potentially dilutive Common Units (thousands) | 96 | 82 | ||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,943 | 92,902 |
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December 31, 2013 | September 30, 2013 | December 31, 2012 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,934,435 | $ | 1,933,929 | $ | 1,914,827 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 513,412 | $ | 512,665 | $ | 505,367 | ||||||
Trademarks and tradenames (not subject to amortization) | 82,944 | 82,944 | 91,100 | |||||||||
Gross carrying amount | 596,356 | 595,609 | 596,467 | |||||||||
Accumulated amortization | (108,911 | ) | (99,281 | ) | (70,314 | ) | ||||||
Intangible assets, net | $ | 487,445 | $ | 496,328 | $ | 526,153 |
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Related Party Transactions |
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Asset (Liability) | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | Significant Other Observable Inputs (Level 2) | Unobservable Inputs (Level 3) | Total | |||||||||||||
December 31, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 38,695 | $ | — | $ | 38,695 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | — | $ | — | $ | — | ||||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 18,252 | $ | — | $ | 18,252 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (135 | ) | $ | — | $ | (135 | ) | ||||||
December 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 3,108 | $ | — | $ | 3,108 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (28,290 | ) | $ | — | $ | (28,290 | ) |
Gross Amounts Not Offset in the Balance Sheet | ||||||||||||||||||||
Gross Amount Recognized | Gross Amount Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | Financial Instruments | Cash Collateral | Net Amount | |||||||||||||||
December 31, 2013: | ||||||||||||||||||||
Derivative assets | $ | 39,512 | $ | (817 | ) | $ | 38,695 | $ | — | $ | — | $ | 38,695 | |||||||
Derivative liabilities | $ | (817 | ) | $ | 817 | $ | — | $ | — | $ | — | $ | — | |||||||
September 30, 2013: | ||||||||||||||||||||
Derivative assets | $ | 19,621 | $ | (1,369 | ) | $ | 18,252 | $ | — | $ | — | $ | 18,252 | |||||||
Derivative liabilities | $ | (1,504 | ) | $ | 1,369 | $ | (135 | ) | $ | — | $ | — | $ | (135 | ) | |||||
December 31, 2012: | ||||||||||||||||||||
Derivative assets | $ | 6,646 | $ | (3,538 | ) | $ | 3,108 | $ | — | $ | — | $ | 3,108 | |||||||
Derivative liabilities | $ | (31,828 | ) | $ | 3,538 | $ | (28,290 | ) | $ | — | $ | 4,747 | $ | (23,543 | ) | |||||
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Disclosures about Derivative Instruments and Hedging Activities |
Derivative Assets | Derivative (Liabilities) | |||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | $ | 32,028 | $ | 3,108 | Derivative financial instruments and other noncurrent liabilities | $ | — | $ | (28,290 | ) | |||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments | 6,667 | — | Derivative financial instruments | — | — | ||||||||||||||
Total Derivatives | $ | 38,695 | $ | 3,108 | $ | — | $ | (28,290 | ) |
Three Months Ended December 31, | ||||||||||||||||||
Gain (Loss) Recognized in AOCI and Noncontrolling Interest | Gain (Loss) Reclassified from AOCI and Noncontrolling Interest into Income | Location of Gain (Loss) Reclassified from AOCI and Noncontrolling Interest into Income | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 34,242 | $ | (2,693 | ) | $ | 13,273 | $ | (17,224 | ) | Cost of sales | |||||||
Gain (Loss) | Location of Gain (Loss) Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2013 | 2012 | ||||||||||||||||
Propane contracts | $ | 6,930 | $ | — | Cost of sales | |||||||||||||
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Three Months Ended December 31, | ||||||||
2013 | 2012 | |||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 105,560 | $ | 86,241 | ||||
Weighted average Common Units outstanding—basic (thousands) | 92,847 | 92,820 | ||||||
Potentially dilutive Common Units (thousands) | 96 | 82 | ||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,943 | 92,902 |
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Three Months Ended December 31, | ||||||||
2013 | 2012 | |||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 105,560 | $ | 86,241 | ||||
Weighted average Common Units outstanding—basic (thousands) | 92,847 | 92,820 | ||||||
Potentially dilutive Common Units (thousands) | 96 | 82 | ||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,943 | 92,902 |
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December 31, 2013 | September 30, 2013 | December 31, 2012 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,934,435 | $ | 1,933,929 | $ | 1,914,827 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 513,412 | $ | 512,665 | $ | 505,367 | ||||||
Trademarks and tradenames (not subject to amortization) | 82,944 | 82,944 | 91,100 | |||||||||
Gross carrying amount | 596,356 | 595,609 | 596,467 | |||||||||
Accumulated amortization | (108,911 | ) | (99,281 | ) | (70,314 | ) | ||||||
Intangible assets, net | $ | 487,445 | $ | 496,328 | $ | 526,153 |
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Gross Amounts Not Offset in the Balance Sheet | ||||||||||||||||||||
Gross Amount Recognized | Gross Amount Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | Financial Instruments | Cash Collateral | Net Amount | |||||||||||||||
December 31, 2013: | ||||||||||||||||||||
Derivative assets | $ | 39,512 | $ | (817 | ) | $ | 38,695 | $ | — | $ | — | $ | 38,695 | |||||||
Derivative liabilities | $ | (817 | ) | $ | 817 | $ | — | $ | — | $ | — | $ | — | |||||||
September 30, 2013: | ||||||||||||||||||||
Derivative assets | $ | 19,621 | $ | (1,369 | ) | $ | 18,252 | $ | — | $ | — | $ | 18,252 | |||||||
Derivative liabilities | $ | (1,504 | ) | $ | 1,369 | $ | (135 | ) | $ | — | $ | — | $ | (135 | ) | |||||
December 31, 2012: | ||||||||||||||||||||
Derivative assets | $ | 6,646 | $ | (3,538 | ) | $ | 3,108 | $ | — | $ | — | $ | 3,108 | |||||||
Derivative liabilities | $ | (31,828 | ) | $ | 3,538 | $ | (28,290 | ) | $ | — | $ | 4,747 | $ | (23,543 | ) | |||||
Asset (Liability) | ||||||||||||||||
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | Significant Other Observable Inputs (Level 2) | Unobservable Inputs (Level 3) | Total | |||||||||||||
December 31, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 38,695 | $ | — | $ | 38,695 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | — | $ | — | $ | — | ||||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 18,252 | $ | — | $ | 18,252 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (135 | ) | $ | — | $ | (135 | ) | ||||||
December 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 3,108 | $ | — | $ | 3,108 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (28,290 | ) | $ | — | $ | (28,290 | ) |
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Derivative Assets | Derivative (Liabilities) | |||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | $ | 32,028 | $ | 3,108 | Derivative financial instruments and other noncurrent liabilities | $ | — | $ | (28,290 | ) | |||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments | 6,667 | — | Derivative financial instruments | — | — | ||||||||||||||
Total Derivatives | $ | 38,695 | $ | 3,108 | $ | — | $ | (28,290 | ) |
Three Months Ended December 31, | ||||||||||||||||||
Gain (Loss) Recognized in AOCI and Noncontrolling Interest | Gain (Loss) Reclassified from AOCI and Noncontrolling Interest into Income | Location of Gain (Loss) Reclassified from AOCI and Noncontrolling Interest into Income | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 34,242 | $ | (2,693 | ) | $ | 13,273 | $ | (17,224 | ) | Cost of sales | |||||||
Gain (Loss) | Location of Gain (Loss) Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2013 | 2012 | ||||||||||||||||
Propane contracts | $ | 6,930 | $ | — | Cost of sales | |||||||||||||
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