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Nature of Operations |
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Three Months Ended March 31, | Six Months Ended March 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 145,109 | $ | 105,020 | $ | 231,350 | $ | 149,530 | ||||||||
Weighted average Common Units outstanding—basic (thousands) | 92,830 | 83,153 | 92,827 | 70,073 | ||||||||||||
Potentially dilutive Common Units (thousands) | 65 | 42 | 74 | 51 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,895 | 83,195 | 92,901 | 70,124 |
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Acquisition of Heritage Propane |
Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||
2013 (As Reported) | 2012 (Pro Forma) | 2013 (As Reported) | 2012 (Pro Forma) | ||||||||||||
Revenues | $ | 1,176,207 | $ | 1,224,903 | $ | 2,052,854 | $ | 2,331,101 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 213,208 | $ | 138,050 | $ | 309,873 | $ | 196,362 | |||||||
Income per limited partner unit: | |||||||||||||||
Basic | $ | 1.56 | $ | 1.24 | $ | 2.49 | $ | 1.99 | |||||||
Diluted | $ | 1.56 | $ | 1.24 | $ | 2.49 | $ | 1.98 |
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March 31, 2013 | September 30, 2012 | March 31, 2012 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,914,827 | $ | 1,914,808 | $ | 1,876,910 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 505,365 | $ | 505,367 | $ | 504,415 | ||||||
Trademarks and tradenames (not subject to amortization) | 91,100 | 91,100 | 144,200 | |||||||||
Gross carrying amount | 596,465 | 596,467 | 648,615 | |||||||||
Accumulated amortization | (80,145 | ) | (60,471 | ) | (46,308 | ) | ||||||
Intangible assets, net | $ | 516,320 | $ | 535,996 | $ | 602,307 |
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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 | |||||||||||||
March 31, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 4,256 | $ | — | $ | 4,256 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (6,970 | ) | $ | — | $ | (6,970 | ) | ||||||
September 30, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 2,089 | $ | — | $ | 2,089 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (42,598 | ) | $ | — | $ | (42,598 | ) | ||||||
March 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 879 | $ | — | $ | 879 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (19,069 | ) | $ | — | $ | (19,069 | ) |
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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 | $ | 4,256 | $ | 879 | Derivative financial instruments and other noncurrent liabilities | $ | (6,970 | ) | $ | (19,069 | ) | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | — | — | Derivative financial instruments and other noncurrent liabilities | — | — | ||||||||||||||
Total Derivatives | $ | 4,256 | $ | 879 | $ | (6,970 | ) | $ | (19,069 | ) |
Three Months Ended March 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 | $ | (2,221 | ) | $ | (20,610 | ) | $ | (25,526 | ) | $ | (17,444 | ) | Cost of sales | |||||
Six Months Ended March 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 | $ | (4,914 | ) | $ | (34,763 | ) | $ | (42,750 | ) | $ | (19,166 | ) | Cost of sales | |||||
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10. | Error in Accounting For Certain Customer Credits |
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Three Months Ended March 31, | Six Months Ended March 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 145,109 | $ | 105,020 | $ | 231,350 | $ | 149,530 | ||||||||
Weighted average Common Units outstanding—basic (thousands) | 92,830 | 83,153 | 92,827 | 70,073 | ||||||||||||
Potentially dilutive Common Units (thousands) | 65 | 42 | 74 | 51 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,895 | 83,195 | 92,901 | 70,124 |
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Three Months Ended March 31, | Six Months Ended March 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method for MLPs | $ | 145,109 | $ | 105,020 | $ | 231,350 | $ | 149,530 | ||||||||
Weighted average Common Units outstanding—basic (thousands) | 92,830 | 83,153 | 92,827 | 70,073 | ||||||||||||
Potentially dilutive Common Units (thousands) | 65 | 42 | 74 | 51 | ||||||||||||
Weighted average Common Units outstanding—diluted (thousands) | 92,895 | 83,195 | 92,901 | 70,124 |
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Three Months Ended March 31, | Six Months Ended March 31, | ||||||||||||||
2013 (As Reported) | 2012 (Pro Forma) | 2013 (As Reported) | 2012 (Pro Forma) | ||||||||||||
Revenues | $ | 1,176,207 | $ | 1,224,903 | $ | 2,052,854 | $ | 2,331,101 | |||||||
Net income attributable to AmeriGas Partners, L.P. | $ | 213,208 | $ | 138,050 | $ | 309,873 | $ | 196,362 | |||||||
Income per limited partner unit: | |||||||||||||||
Basic | $ | 1.56 | $ | 1.24 | $ | 2.49 | $ | 1.99 | |||||||
Diluted | $ | 1.56 | $ | 1.24 | $ | 2.49 | $ | 1.98 |
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March 31, 2013 | September 30, 2012 | March 31, 2012 | ||||||||||
Goodwill (not subject to amortization) | $ | 1,914,827 | $ | 1,914,808 | $ | 1,876,910 | ||||||
Intangible assets: | ||||||||||||
Customer relationships and noncompete agreements | $ | 505,365 | $ | 505,367 | $ | 504,415 | ||||||
Trademarks and tradenames (not subject to amortization) | 91,100 | 91,100 | 144,200 | |||||||||
Gross carrying amount | 596,465 | 596,467 | 648,615 | |||||||||
Accumulated amortization | (80,145 | ) | (60,471 | ) | (46,308 | ) | ||||||
Intangible assets, net | $ | 516,320 | $ | 535,996 | $ | 602,307 |
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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 | |||||||||||||
March 31, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 4,256 | $ | — | $ | 4,256 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (6,970 | ) | $ | — | $ | (6,970 | ) | ||||||
September 30, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 2,089 | $ | — | $ | 2,089 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (42,598 | ) | $ | — | $ | (42,598 | ) | ||||||
March 31, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | 879 | $ | — | $ | 879 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | — | $ | (19,069 | ) | $ | — | $ | (19,069 | ) |
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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 | $ | 4,256 | $ | 879 | Derivative financial instruments and other noncurrent liabilities | $ | (6,970 | ) | $ | (19,069 | ) | ||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||
Propane contracts | Derivative financial instruments and other assets | — | — | Derivative financial instruments and other noncurrent liabilities | — | — | ||||||||||||||
Total Derivatives | $ | 4,256 | $ | 879 | $ | (6,970 | ) | $ | (19,069 | ) |
Three Months Ended March 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 | $ | (2,221 | ) | $ | (20,610 | ) | $ | (25,526 | ) | $ | (17,444 | ) | Cost of sales | |||||
Six Months Ended March 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 | $ | (4,914 | ) | $ | (34,763 | ) | $ | (42,750 | ) | $ | (19,166 | ) | Cost of sales | |||||
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