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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net (loss) income attributable to AmeriGas Partners, L.P. | $ | (37,761 | ) | $ | (34,595 | ) | $ | 337,240 | $ | 275,278 | ||||||
Adjust for general partner share and theoretical distributions of net income (loss) attributable to AmeriGas Partners, L.P. to the general partner in accordance with the two-class method for MLPs | (6,155 | ) | (5,045 | ) | (54,601 | ) | (24,195 | ) | ||||||||
Common Unitholders’ interest in net (loss) income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | (43,916 | ) | $ | (39,640 | ) | $ | 282,639 | $ | 251,083 | ||||||
Weighted average Common Units outstanding—basic (thousands) | 92,888 | 92,838 | 92,873 | 92,830 | ||||||||||||
Potentially dilutive Common Units (thousands) | — | — | 68 | 74 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,888 | 92,838 | 92,941 | 92,904 |
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June 30, 2014 | September 30, 2013 | June 30, 2013 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,934,581 | $ | 1,933,929 | $ | 1,924,820 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 513,716 | $ | 512,665 | $ | 505,580 | ||||||
Trademarks and tradenames (not subject to amortization) | 82,944 | 82,944 | 81,800 | |||||||||
Gross carrying amount | 596,660 | 595,609 | 587,380 | |||||||||
Accumulated amortization | (128,117 | ) | (99,281 | ) | (89,732 | ) | ||||||
Intangible assets, net | $ | 468,543 | $ | 496,328 | $ | 497,648 |
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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 | |||||||||||||
June 30, 2014: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 4,862 | $ | — | $ | 4,862 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (238 | ) | $ | — | $ | (238 | ) | ||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 18,252 | $ | — | $ | 18,252 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (135 | ) | $ | — | $ | (135 | ) | ||||||
June 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 424 | $ | — | $ | 424 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (15,224 | ) | $ | — | $ | (15,224 | ) |
Gross Amounts Recognized | Gross Amounts Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | |||||||
June 30, 2014: | |||||||||
Derivative assets | $ | 8,068 | $ | (3,206 | ) | $ | 4,862 | ||
Derivative liabilities | $ | (3,444 | ) | $ | 3,206 | $ | (238 | ) | |
September 30, 2013: | |||||||||
Derivative assets | $ | 19,621 | $ | (1,369 | ) | $ | 18,252 | ||
Derivative liabilities | $ | (1,504 | ) | $ | 1,369 | $ | (135 | ) | |
June 30, 2013: | |||||||||
Derivative assets | $ | 424 | $ | — | $ | 424 | |||
Derivative liabilities | $ | (15,224 | ) | $ | — | $ | (15,224 | ) | |
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Derivative Assets | Derivative (Liabilities) | |||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | $ | 6,378 | $ | 424 | Derivative financial instruments and other noncurrent liabilities | $ | — | $ | (15,224 | ) | |||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments | 313 | — | Derivative financial instruments | (2,067 | ) | — | |||||||||||||
Amounts above offset in the Balance Sheet | (1,829 | ) | — | 1,829 | — | |||||||||||||||
Total Derivatives | $ | 4,862 | $ | 424 | $ | (238 | ) | $ | (15,224 | ) |
Three Months Ended June 30, | ||||||||||||||||||
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 | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 884 | $ | (19,434 | ) | $ | 5,258 | $ | (8,479 | ) | Cost of sales - propane | |||||||
(Loss) | Location of (Loss) Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2014 | 2013 | ||||||||||||||||
Propane contracts | $ | (2,006 | ) | $ | — | Cost of sales - propane | ||||||||||||
Nine Months Ended June 30, | ||||||||||||||||||
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 | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 46,231 | $ | (24,348 | ) | $ | 53,685 | $ | (51,229 | ) | Cost of sales - propane | |||||||
Gain | Location of Gain Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2014 | 2013 | ||||||||||||||||
Propane contracts | $ | 4,924 | $ | — | Cost of sales - propane |
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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net (loss) income attributable to AmeriGas Partners, L.P. | $ | (37,761 | ) | $ | (34,595 | ) | $ | 337,240 | $ | 275,278 | ||||||
Adjust for general partner share and theoretical distributions of net income (loss) attributable to AmeriGas Partners, L.P. to the general partner in accordance with the two-class method for MLPs | (6,155 | ) | (5,045 | ) | (54,601 | ) | (24,195 | ) | ||||||||
Common Unitholders’ interest in net (loss) income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | (43,916 | ) | $ | (39,640 | ) | $ | 282,639 | $ | 251,083 | ||||||
Weighted average Common Units outstanding—basic (thousands) | 92,888 | 92,838 | 92,873 | 92,830 | ||||||||||||
Potentially dilutive Common Units (thousands) | — | — | 68 | 74 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,888 | 92,838 | 92,941 | 92,904 |
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Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net (loss) income attributable to AmeriGas Partners, L.P. | $ | (37,761 | ) | $ | (34,595 | ) | $ | 337,240 | $ | 275,278 | ||||||
Adjust for general partner share and theoretical distributions of net income (loss) attributable to AmeriGas Partners, L.P. to the general partner in accordance with the two-class method for MLPs | (6,155 | ) | (5,045 | ) | (54,601 | ) | (24,195 | ) | ||||||||
Common Unitholders’ interest in net (loss) income attributable to AmeriGas Partners, L.P. under the two-class method for MLPs | $ | (43,916 | ) | $ | (39,640 | ) | $ | 282,639 | $ | 251,083 | ||||||
Weighted average Common Units outstanding—basic (thousands) | 92,888 | 92,838 | 92,873 | 92,830 | ||||||||||||
Potentially dilutive Common Units (thousands) | — | — | 68 | 74 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,888 | 92,838 | 92,941 | 92,904 |
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June 30, 2014 | September 30, 2013 | June 30, 2013 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,934,581 | $ | 1,933,929 | $ | 1,924,820 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 513,716 | $ | 512,665 | $ | 505,580 | ||||||
Trademarks and tradenames (not subject to amortization) | 82,944 | 82,944 | 81,800 | |||||||||
Gross carrying amount | 596,660 | 595,609 | 587,380 | |||||||||
Accumulated amortization | (128,117 | ) | (99,281 | ) | (89,732 | ) | ||||||
Intangible assets, net | $ | 468,543 | $ | 496,328 | $ | 497,648 |
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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 | |||||||||||||
June 30, 2014: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 4,862 | $ | — | $ | 4,862 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (238 | ) | $ | — | $ | (238 | ) | ||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 18,252 | $ | — | $ | 18,252 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (135 | ) | $ | — | $ | (135 | ) | ||||||
June 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 424 | $ | — | $ | 424 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (15,224 | ) | $ | — | $ | (15,224 | ) |
Gross Amounts Recognized | Gross Amounts Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | |||||||
June 30, 2014: | |||||||||
Derivative assets | $ | 8,068 | $ | (3,206 | ) | $ | 4,862 | ||
Derivative liabilities | $ | (3,444 | ) | $ | 3,206 | $ | (238 | ) | |
September 30, 2013: | |||||||||
Derivative assets | $ | 19,621 | $ | (1,369 | ) | $ | 18,252 | ||
Derivative liabilities | $ | (1,504 | ) | $ | 1,369 | $ | (135 | ) | |
June 30, 2013: | |||||||||
Derivative assets | $ | 424 | $ | — | $ | 424 | |||
Derivative liabilities | $ | (15,224 | ) | $ | — | $ | (15,224 | ) | |
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Derivative Assets | Derivative (Liabilities) | |||||||||||||||||||
Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | $ | 6,378 | $ | 424 | Derivative financial instruments and other noncurrent liabilities | $ | — | $ | (15,224 | ) | |||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments | 313 | — | Derivative financial instruments | (2,067 | ) | — | |||||||||||||
Amounts above offset in the Balance Sheet | (1,829 | ) | — | 1,829 | — | |||||||||||||||
Total Derivatives | $ | 4,862 | $ | 424 | $ | (238 | ) | $ | (15,224 | ) |
Three Months Ended June 30, | ||||||||||||||||||
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 | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 884 | $ | (19,434 | ) | $ | 5,258 | $ | (8,479 | ) | Cost of sales - propane | |||||||
(Loss) | Location of (Loss) Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2014 | 2013 | ||||||||||||||||
Propane contracts | $ | (2,006 | ) | $ | — | Cost of sales - propane | ||||||||||||
Nine Months Ended June 30, | ||||||||||||||||||
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 | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||
Propane contracts | $ | 46,231 | $ | (24,348 | ) | $ | 53,685 | $ | (51,229 | ) | Cost of sales - propane | |||||||
Gain | Location of Gain Recognized in Income | |||||||||||||||||
Recognized in Income | ||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | 2014 | 2013 | ||||||||||||||||
Propane contracts | $ | 4,924 | $ | — | Cost of sales - propane |
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