2021 Q3 Form 10-K Financial Statement

#000156459021059752 Filed on December 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2021 Q1
Revenue $236.6M $283.1M $604.1M
YoY Change 29.05% 21.94% 11.24%
Cost Of Revenue $187.1M $213.0M $377.9M
YoY Change 37.04% 43.93% 7.14%
Gross Profit $49.49M $70.09M $226.2M
YoY Change 5.71% -16.72% 15.15%
Gross Profit Margin 20.92% 24.76% 37.44%
Selling, General & Admin $77.74M $81.08M $107.3M
YoY Change 4.2% 1.73% 18.04%
% of Gross Profit 157.07% 115.68% 47.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.932M $8.825M $8.500M
YoY Change 7.61% 1.44% -8.6%
% of Gross Profit 18.05% 12.59% 3.76%
Operating Expenses $85.81M $88.57M $114.7M
YoY Change 4.52% 1.8% 16.45%
Operating Profit -$30.52M -$13.76M $119.7M
YoY Change -15.46% -2863.86% 38.99%
Interest Expense $3.693M $2.515M $5.800M
YoY Change -223.1% 214.38% -166.67%
% of Operating Profit 4.85%
Other Income/Expense, Net
YoY Change
Pretax Income -$32.63M -$15.96M $117.3M
YoY Change -25.93% 678.3% 41.16%
Income Tax -$9.396M -$3.909M $32.15M
% Of Pretax Income 27.41%
Net Earnings -$23.23M -$12.05M $85.16M
YoY Change -23.07% 26104.35% 45.81%
Net Earnings / Revenue -9.82% -4.26% 14.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$587.9K -$301.0K $2.109M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.767M $5.500M $8.900M
YoY Change -91.62% -91.75% -13.59%
Cash & Equivalents $4.800M $5.500M $9.133M
Short-Term Investments
Other Short-Term Assets $56.36M $51.04M $52.20M
YoY Change 58.32% 79.1% 20.55%
Inventory $61.18M $56.67M $59.14M
Prepaid Expenses
Receivables $99.68M $119.3M $187.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $222.0M $232.6M $307.7M
YoY Change -1.92% -7.27% 4.82%
LONG-TERM ASSETS
Property, Plant & Equipment $99.12M $99.27M $97.93M
YoY Change 6.02% 4.68% 2.86%
Goodwill $253.4M $253.3M $253.2M
YoY Change 5.44% 3.53%
Intangibles
YoY Change
Long-Term Investments $69.93M $69.80M $69.70M
YoY Change 0.19% 0.28% 5.93%
Other Assets $17.85M $18.34M $18.73M
YoY Change -2.67% 1.91% 5.07%
Total Long-Term Assets $631.9M $637.8M $638.6M
YoY Change 3.2% 2.65% 2.08%
TOTAL ASSETS
Total Short-Term Assets $222.0M $232.6M $307.7M
Total Long-Term Assets $631.9M $637.8M $638.6M
Total Assets $853.9M $870.3M $946.3M
YoY Change 1.82% -0.21% 2.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.29M $32.23M $35.34M
YoY Change 20.97% 28.41% 47.88%
Accrued Expenses $121.2M $160.6M $178.5M
YoY Change -4.76% 4.57% 12.27%
Deferred Revenue
YoY Change
Short-Term Debt $8.618M $0.00 $35.00M
YoY Change 45.83%
Long-Term Debt Due $17.62M $13.00M $13.00M
YoY Change 35.55% 0.0% 0.0%
Total Short-Term Liabilities $345.0M $316.4M $366.0M
YoY Change 0.04% -4.06% 3.13%
LONG-TERM LIABILITIES
Long-Term Debt $92.39M $100.2M $103.4M
YoY Change -15.86% -11.3% -11.01%
Other Long-Term Liabilities $25.24M $25.67M $26.07M
YoY Change 0.97% 15.45% -76.69%
Total Long-Term Liabilities $117.6M $125.9M $26.07M
YoY Change -12.74% -6.9% -77.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $345.0M $316.4M $366.0M
Total Long-Term Liabilities $117.6M $125.9M $26.07M
Total Liabilities $462.6M $557.0M $609.0M
YoY Change -3.55% 19.78% 0.98%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $278.2M $313.3M $337.3M
YoY Change
Total Liabilities & Shareholders Equity $853.9M $870.3M $946.3M
YoY Change 1.82% -0.21% 2.96%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income -$23.23M -$12.05M $85.16M
YoY Change -23.07% 26104.35% 45.81%
Depreciation, Depletion And Amortization $8.932M $8.825M $8.500M
YoY Change 7.61% 1.44% -8.6%
Cash From Operating Activities $9.419M $53.96M $32.50M
YoY Change -51.45% -48.81% -68.29%
INVESTING ACTIVITIES
Capital Expenditures -$3.423M -$4.460M -$2.500M
YoY Change -37.76% 53.79% -7.41%
Acquisitions
YoY Change
Other Investing Activities -$41.00K -$2.502M -$1.500M
YoY Change -98.95% -3.77% -48.28%
Cash From Investing Activities -$3.464M -$6.862M -$4.100M
YoY Change -63.15% 24.76% -25.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.688M -50.51M -38.30M
YoY Change -66.05% 16.11% -62.15%
NET CHANGE
Cash From Operating Activities 9.419M 53.96M 32.50M
Cash From Investing Activities -3.464M -6.862M -4.100M
Cash From Financing Activities -6.688M -50.51M -38.30M
Net Change In Cash -733.0K -3.411M -9.900M
YoY Change -92.44% -106.05% 135.71%
FREE CASH FLOW
Cash From Operating Activities $9.419M $53.96M $32.50M
Capital Expenditures -$3.423M -$4.460M -$2.500M
Free Cash Flow $12.84M $58.42M $35.00M
YoY Change -48.43% -46.06% -66.73%

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CY2021 sgu Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Obligation Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansObligationTax
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
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CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
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NetIncomeLoss
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UnrealizedGainLossOnDerivatives
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CY2020 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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DepreciationDepletionAndAmortization
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CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2020 us-gaap Provision For Doubtful Accounts
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CY2019 us-gaap Provision For Doubtful Accounts
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CY2020 us-gaap Increase Decrease In Deferred Income Taxes
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CY2019 us-gaap Increase Decrease In Deferred Income Taxes
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CY2019 us-gaap Other Noncash Income Expense
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CY2020 us-gaap Increase Decrease In Receivables
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CY2019 us-gaap Increase Decrease In Receivables
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Increase Decrease In Other Operating Assets
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CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2020 us-gaap Increase Decrease In Accounts Payable
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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3054000
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
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CY2019 us-gaap Increase Decrease In Contract With Customer Liability
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CY2020 us-gaap Increase Decrease In Other Operating Liabilities
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CY2019 us-gaap Increase Decrease In Other Operating Liabilities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
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ProceedsFromSaleOfPropaneAssets
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CY2020 sgu Proceeds From Sale Of Propane Assets
ProceedsFromSaleOfPropaneAssets
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CY2019 sgu Proceeds From Sale Of Propane Assets
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CY2021 us-gaap Payments To Acquire Investments
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CY2020 us-gaap Payments To Acquire Investments
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CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2020 us-gaap Repayments Of Lines Of Credit
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CY2019 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2020 us-gaap Repayments Of Long Term Debt
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CY2019 us-gaap Repayments Of Long Term Debt
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CY2020 us-gaap Payments For Repurchase Of Equity
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CY2021 sgu Payments Of Customer Retainage
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CY2020 us-gaap Payments Of Debt Issuance Costs
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NetCashProvidedByUsedInFinancingActivities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Number Of Reportable Segments
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. </span></p>
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2021Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2021 us-gaap Number Of Reportable Segments
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GoodwillImpairmentLoss
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CY2020Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2019Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2021 us-gaap Advertising Expense
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CY2020 us-gaap Advertising Expense
AdvertisingExpense
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CY2019 us-gaap Advertising Expense
AdvertisingExpense
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CY2021 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
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CY2021Q3 us-gaap Financing Receivable Allowance For Credit Losses
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CY2020Q3 sgu Derivative Maximum Payout Under Weather Hedge Contract
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CY2021Q3 sgu Derivative Maximum Payout Under Weather Hedge Contract
DerivativeMaximumPayoutUnderWeatherHedgeContract
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CY2020 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
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CY2020 sgu General Partner Incentive Distributions Exclusive Of Amounts Paid Subject To Management Incentive Plan
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CY2019 sgu General Partner Incentive Distributions Exclusive Of Amounts Paid Subject To Management Incentive Plan
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q3 us-gaap Capitalized Contract Cost Amortization Period
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CY2021 us-gaap Capitalized Contract Cost Impairment Loss
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CY2019 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
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CY2020Q3 us-gaap Contract With Customer Liability
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CY2020 us-gaap Contract With Customer Liability Revenue Recognized
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118600000
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
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CY2021 us-gaap Provision For Loan Lease And Other Losses
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CY2021 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2021 sgu Minimum Distribution Of Available Cash Per Unit
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CY2021Q3 sgu Common Units Distribution Amount On Annualized Basis
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CY2021 sgu Second Tier Percentage Of Available Cash Distribution To Common Units For Any Arrearages
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CY2021 sgu Third Tier Percentage Of Available Cash Distribution To General Partner Unit
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CY2021 sgu First Target Distribution
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CY2021 sgu Thereafter Percentage Of Distributions To Common Unit Holders After First Target Distribution Is Met
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CY2021 sgu Thereafter Percentage Of Distributions To General Partner Unit Holders After First Target Distribution Is Met
ThereafterPercentageOfDistributionsToGeneralPartnerUnitHoldersAfterFirstTargetDistributionIsMet
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CY2021 sgu Percentage Of Excess Availability Of Revolving Commitment That Must Be Maintained
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CY2021 sgu Fixed Charge Coverage Ratio That Must Be Maintained To Make Distributions
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CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2020Q3 us-gaap Available For Sale Securities Debt Securities
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CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
544000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
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69933000
CY2021Q3 us-gaap Derivative Amount Of Hedged Item
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CY2021 us-gaap Unrealized Gain Loss On Derivatives
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CY2020 us-gaap Unrealized Gain Loss On Derivatives
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CY2019 us-gaap Unrealized Gain Loss On Derivatives
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CY2020Q3 us-gaap Energy Related Inventory Petroleum
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CY2020Q3 us-gaap Other Inventories Spare Parts
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CY2020Q3 us-gaap Inventory Net
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CY2021Q3 sgu Heating Oil And Other Fuel Inventories
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CY2020Q3 sgu Heating Oil And Other Fuel Inventories
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CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
220220000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q3 us-gaap Property Plant And Equipment Net
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CY2020Q3 us-gaap Property Plant And Equipment Net
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CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
Depreciation
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Depreciation
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CY2019Q3 us-gaap Goodwill
Goodwill
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CY2020 us-gaap Impairment Charge On Reclassified Assets
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CY2020Q3 us-gaap Goodwill
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CY2021 us-gaap Goodwill Acquired During Period
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330031000
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CY2021 us-gaap Amortization Of Intangible Assets
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AmortizationOfIntangibleAssets
19600000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
19400000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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17763000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16165000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
13853000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
11561000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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8541000
CY2021Q3 sgu Accrued Wages And Benefits
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29467000
CY2020Q3 sgu Accrued Wages And Benefits
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37359000
CY2021Q3 us-gaap Accrued Insurance Current
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80572000
CY2020Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
78993000
CY2021Q3 us-gaap Other Accrued Liabilities Current
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11182000
CY2020Q3 us-gaap Other Accrued Liabilities Current
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
76543000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
27755000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
58408000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-46000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-30199000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
55918000
CY2019Q4 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
27563000
CY2020Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
57999000
CY2020Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-45000
CY2020Q3 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-29976000
CY2020 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
55541000
CY2019Q4 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.49
CY2020Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
1.03
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
183295000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1467458000
CY2019Q4 us-gaap Gross Profit
GrossProfit
147603000
CY2020Q1 us-gaap Gross Profit
GrossProfit
196440000
CY2020Q2 us-gaap Gross Profit
GrossProfit
84159000
CY2020Q3 us-gaap Gross Profit
GrossProfit
46818000
CY2020 us-gaap Gross Profit
GrossProfit
475020000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
42451000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
86117000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
498000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-36098000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
92968000
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
39537000
CY2020Q3 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.68
CY2020 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
1.07

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