$SPH
SUBURBAN PROPANE PARTNERS LP

2023 Q3 Form 10-Q Financial Statement

#000095017023037696 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $226.6M $278.6M
YoY Change -4.64% -7.23%
Cost Of Revenue $65.42M $110.4M
YoY Change -51.83% -21.63%
Gross Profit $161.2M $168.2M
YoY Change 58.31% 5.51%
Gross Profit Margin 71.13% 60.36%
Selling, General & Admin $21.72M $21.14M
YoY Change 29.33% -1.85%
% of Gross Profit 13.48% 12.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.18M $15.54M
YoY Change 18.56% 10.91%
% of Gross Profit 10.66% 9.24%
Operating Expenses $157.2M $153.3M
YoY Change 12.7% 6.0%
Operating Profit $3.989M $14.87M
YoY Change -110.59% 0.64%
Interest Expense -$18.80M -$18.73M
YoY Change 24.46% -224.85%
% of Operating Profit -471.17% -126.01%
Other Income/Expense, Net -$5.805M -$1.150M
YoY Change 410.55% -43.38%
Pretax Income -$20.61M -$5.017M
YoY Change -61.76% 121.6%
Income Tax $247.0K $244.0K
% Of Pretax Income
Net Earnings -$20.86M -$5.261M
YoY Change -61.49% 107.53%
Net Earnings / Revenue -9.2% -1.89%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$0.33 -$0.08
COMMON SHARES
Basic Shares Outstanding 63.51M 63.50M
Diluted Shares Outstanding 63.93K

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.514M $10.03M
YoY Change -14.29% 41.95%
Cash & Equivalents $3.514M $10.03M
Short-Term Investments
Other Short-Term Assets $30.97M $35.40M
YoY Change 22.37% -23.04%
Inventory $61.83M $56.54M
Prepaid Expenses
Receivables $67.69M $78.08M
Other Receivables $0.00 $0.00
Total Short-Term Assets $164.0M $180.1M
YoY Change -6.21% -16.16%
LONG-TERM ASSETS
Property, Plant & Equipment $646.1M $782.1M
YoY Change 14.59% 39.54%
Goodwill $1.149B $1.149B
YoY Change 3.18% 3.81%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $88.15M $85.97M
YoY Change 17.41% 41.19%
Total Long-Term Assets $2.106B $2.100B
YoY Change 9.21% 10.51%
TOTAL ASSETS
Total Short-Term Assets $164.0M $180.1M
Total Long-Term Assets $2.106B $2.100B
Total Assets $2.270B $2.280B
YoY Change 7.93% 7.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.04M $37.61M
YoY Change 13.85% 9.08%
Accrued Expenses $107.1M $70.25M
YoY Change 9.38% 3.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $307.8M $263.7M
YoY Change 0.39% 8.75%
LONG-TERM LIABILITIES
Long-Term Debt $1.188B $1.215B
YoY Change 10.29% 12.68%
Other Long-Term Liabilities $69.96M $216.9M
YoY Change 8.25% 220.34%
Total Long-Term Liabilities $1.258B $1.432B
YoY Change 10.18% 24.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $307.8M $263.7M
Total Long-Term Liabilities $1.258B $1.432B
Total Liabilities $1.724B $1.696B
YoY Change 7.34% 9.45%
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 $546.4M $584.4M
YoY Change
Total Liabilities & Shareholders Equity $2.270B $2.280B
YoY Change 7.93% 7.8%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$20.86M -$5.261M
YoY Change -61.49% 107.53%
Depreciation, Depletion And Amortization $17.18M $15.54M
YoY Change 18.56% 10.91%
Cash From Operating Activities $57.84M $62.00M
YoY Change 17.06% -17.99%
INVESTING ACTIVITIES
Capital Expenditures $11.55M $9.354M
YoY Change 4.53% -185.15%
Acquisitions
YoY Change
Other Investing Activities -$1.988M -$10.29M
YoY Change -89.57% 3434.71%
Cash From Investing Activities -$13.54M -$19.64M
YoY Change -55.04% 74.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.93M -41.62M
YoY Change 119.7% -35.06%
NET CHANGE
Cash From Operating Activities 57.84M 62.00M
Cash From Investing Activities -13.54M -19.64M
Cash From Financing Activities -48.93M -41.62M
Net Change In Cash -4.626M 742.0K
YoY Change 55.97% 209.17%
FREE CASH FLOW
Cash From Operating Activities $57.84M $62.00M
Capital Expenditures $11.55M $9.354M
Free Cash Flow $46.29M $52.64M
YoY Change 20.66% -39.2%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001005210
dei Entity Registrant Name
EntityRegistrantName
SUBURBAN PROPANE PARTNERS LP
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q2 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.3333
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-24
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
1-14222
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
22-3410353
dei Entity Address Address Line1
EntityAddressAddressLine1
240 Route 10 West
dei Entity Address City Or Town
EntityAddressCityOrTown
Whippany
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
64603000
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
68398000
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
263702000
dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
07981
dei City Area Code
CityAreaCode
973
dei Local Phone Number
LocalPhoneNumber
887-5300
dei Security12g Title
Security12gTitle
Common Units
dei Trading Symbol
TradingSymbol
SPH
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
63513579
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10030000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4100000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6079000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
4822000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
78084000
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
78529000
CY2023Q2 us-gaap Inventory Net
InventoryNet
56541000
CY2022Q3 us-gaap Inventory Net
InventoryNet
66921000
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
35402000
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
25310000
CY2023Q2 us-gaap Assets Current
AssetsCurrent
180057000
CY2022Q3 us-gaap Assets Current
AssetsCurrent
174860000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
648662000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
563784000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
133410000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
136578000
CY2023Q2 us-gaap Goodwill
Goodwill
1148776000
CY2022Q3 us-gaap Goodwill
Goodwill
1113423000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
83550000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
40002000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
85970000
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
75079000
CY2023Q2 us-gaap Assets
Assets
2280425000
CY2022Q3 us-gaap Assets
Assets
2103726000
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
37612000
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
35173000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
38229000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
43333000
CY2023Q2 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
91239000
CY2022Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
127592000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
32019000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
32126000
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
306622000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
1215449000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
1077329000
CY2023Q2 us-gaap Accrued Insurance Noncurrent
AccruedInsuranceNoncurrent
50980000
CY2022Q3 us-gaap Accrued Insurance Noncurrent
AccruedInsuranceNoncurrent
53945000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
100388000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
103670000
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
65483000
CY2022Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
64630000
CY2023Q2 us-gaap Liabilities
Liabilities
1696002000
CY2022Q3 us-gaap Liabilities
Liabilities
1606196000
CY2023Q2 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
63499000
CY2023Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
63499000
CY2022Q3 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
62987000
CY2022Q3 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
62987000
CY2023Q2 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
596528000
CY2022Q3 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
510126000
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-12105000
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-12596000
CY2023Q2 us-gaap Partners Capital
PartnersCapital
584423000
CY2022Q3 us-gaap Partners Capital
PartnersCapital
497530000
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2280425000
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2103726000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278628000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300332000
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
110446000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
140930000
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
116637000
CY2022Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
109081000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21142000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21541000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15537000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14009000
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
263762000
CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
285561000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
14866000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
14771000
CY2023Q2 us-gaap Interest Expense
InterestExpense
18733000
CY2022Q2 us-gaap Interest Expense
InterestExpense
15004000
CY2023Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1150000
CY2022Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
2031000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5017000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2264000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
244000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
271000
CY2022Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
293000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
491000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
881000
CY2022Q2 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
634000
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
634000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5097000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1608000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
145101000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
195380000
us-gaap Net Income Loss
NetIncomeLoss
144610000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5261000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2535000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63926
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63284
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63926
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63284
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1202599000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1263834000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
524707000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
576299000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
359798000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
334229000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
69854000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
64962000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45380000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
44356000
us-gaap Costs And Expenses
CostsAndExpenses
999739000
us-gaap Costs And Expenses
CostsAndExpenses
1019846000
us-gaap Operating Income Loss
OperatingIncomeLoss
202860000
us-gaap Operating Income Loss
OperatingIncomeLoss
243988000
us-gaap Interest Expense
InterestExpense
54598000
us-gaap Interest Expense
InterestExpense
45557000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3231000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4395000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
145031000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
194036000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
421000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
171000
us-gaap Net Income Loss
NetIncomeLoss
144610000
us-gaap Net Income Loss
NetIncomeLoss
193865000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.07
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63826
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63200
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.04
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64326
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63833
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5261000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2535000
us-gaap Net Income Loss
NetIncomeLoss
144610000
us-gaap Net Income Loss
NetIncomeLoss
193865000
CY2023Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
164000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
164000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
927000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
491000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1515000
us-gaap Net Income Loss
NetIncomeLoss
193865000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45380000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
44356000
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0
us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
634000
us-gaap Restricted Stock Expense
RestrictedStockExpense
6265000
us-gaap Restricted Stock Expense
RestrictedStockExpense
8422000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2541000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2061000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4683000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24005000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-10425000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4523000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-13619000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
14581000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-2269000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-4620000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-5296000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-5523000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-36353000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-29162000
us-gaap Pension Contributions
PensionContributions
3000000
us-gaap Pension Contributions
PensionContributions
2220000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-13213000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
6432000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
167392000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
171136000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
33386000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
33304000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
126929000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
36366000
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
850000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3180000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4492000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-157135000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-64328000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
470200000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
270200000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
399800000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
310800000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
61741000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
61255000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4312000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3695000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4347000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-105550000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14604000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1258000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4100000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5808000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
18704000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7066000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
8674000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
0
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10030000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7066000
CY2023Q1 us-gaap Partners Capital
PartnersCapital
608251000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5261000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
164000
CY2023Q2 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
20636000
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
CY2023Q2 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
1905000
CY2023Q2 us-gaap Partners Capital
PartnersCapital
584423000
CY2022Q1 us-gaap Partners Capital
PartnersCapital
585149000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2535000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
927000
CY2022Q2 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
20466000
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
35000
CY2022Q2 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
2813000
CY2022Q2 us-gaap Partners Capital
PartnersCapital
565853000
CY2022Q3 us-gaap Partners Capital
PartnersCapital
497530000
us-gaap Net Income Loss
NetIncomeLoss
144610000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
491000
us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
61741000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
2732000
us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
6265000
CY2023Q2 us-gaap Partners Capital
PartnersCapital
584423000
CY2021Q3 us-gaap Partners Capital
PartnersCapital
425421000
us-gaap Net Income Loss
NetIncomeLoss
193865000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1515000
us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
61255000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
2115000
us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
8422000
CY2022Q2 us-gaap Partners Capital
PartnersCapital
565853000
us-gaap Nature Of Operations
NatureOfOperations
<div style="text-indent:0.0%;display:flex;margin-top:12.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.537%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Partnership Organization and Formation</span></div></div><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Suburban Propane Partners, L.P. (the “Partnership”) is a publicly traded Delaware limited partnership principally engaged, through its operating partnership and subsidiaries, in the retail marketing and distribution of propane, renewable propane, renewable natural gas (“RNG”), fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets and producer of and investor in low-carbon fuel alternatives. In addition, to complement its core marketing and distribution businesses, the Partnership services a wide variety of home comfort equipment, particularly for heating and ventilation. The publicly traded limited partner interests in the Partnership are evidenced by common units traded on the New York Stock Exchange (“Common Units”), with </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">63,498,995</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> Common Units outstanding at June 24, 2023. The holders of Common Units are entitled to participate in distributions and exercise the rights and privileges available to limited partners under the Third Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), as amended. Rights and privileges under the Partnership Agreement include, among other things, the election of all members of the Board of Supervisors and voting on the removal of the general partner.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Suburban Propane, L.P. (the “Operating Partnership”), a Delaware limited partnership, is the Partnership’s operating subsidiary formed to operate the propane business and assets. In addition, Suburban Sales &amp; Service, Inc. (the “Service Company”), a subsidiary of the Operating Partnership, was formed to operate the service work and appliance and parts businesses of the Partnership. The Operating Partnership, together with its direct and indirect subsidiaries, accounts for substantially all of the Partnership’s assets, revenues and earnings. The Partnership, the Operating Partnership and the Service Company commenced operations in March 1996 in connection with the Partnership’s initial public offering.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Suburban Renewable Energy, LLC (“Suburban Renewable Energy”) is a wholly owned subsidiary of the Operating Partnership that was formed in January 2022. Suburban Renewable Energy serves as the platform for the Partnership’s investments in innovative, renewable energy technologies and businesses.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The general partner of both the Partnership and the Operating Partnership is Suburban Energy Services Group LLC (the “General Partner”), a Delaware limited liability company, the sole member of which is the Partnership’s Chief Executive Officer. Other than as a holder of </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">784</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> Common Units that will remain in the General Partner, the General Partner does not have any economic interest in the Partnership or the Operating Partnership.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Partnership’s fuel oil and refined fuels, natural gas and electricity, services, and renewable energy businesses are structured as either limited liability companies that are treated as corporations or corporate entities (collectively referred to as the “Corporate Entities”) and, as such, are subject to corporate level U.S. income tax.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Suburban Energy Finance Corp., a direct </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">100</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%-owned subsidiary of the Partnership, was formed on November 26, 2003 to serve as co-issuer, jointly and severally with the Partnership, of the Partnership’s senior notes.</span></p>
CY2023Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
63498995
CY2023Q2 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
us-gaap Fiscal Period
FiscalPeriod
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:2.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Fiscal Period.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> The Partnership uses a </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">52</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">/</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">53</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">-week fiscal year which ends on the last Saturday in September. The Partnership’s fiscal quarters are generally </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">thirteen</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> weeks in duration. When the Partnership’s fiscal year is 53 weeks long, as is the case for fiscal 2023, the corresponding fourth quarter is </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">fourteen</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> weeks in duration.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
sph Minimum Number Of Weeks In Fiscal Year Reporting Calendar
MinimumNumberOfWeeksInFiscalYearReportingCalendar
52
sph Maximum Number Of Weeks In Fiscal Year Reporting Calendar
MaximumNumberOfWeeksInFiscalYearReportingCalendar
53
sph Minimum Number Of Weeks In Fiscal Quarter
MinimumNumberOfWeeksInFiscalQuarter
13
sph Maximum Number Of Weeks In Fiscal Quarter
MaximumNumberOfWeeksInFiscalQuarter
14
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates.</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates have been made by management in the areas of RNG revenue recognition, self-insurance and litigation reserves, pension and other postretirement benefit liabilities and costs, valuation of derivative instruments, depreciation and amortization of long-lived assets, asset impairment assessments, tax valuation allowances, allowances for doubtful accounts, and purchase price allocation for acquired businesses. The Partnership uses Society of Actuaries life expectancy information when developing the annual mortality assumptions for the pension and postretirement benefit plans, which are used to measure net periodic benefit costs and the obligation under these plans. Actual results could differ from those estimates, making it reasonably possible that a material change in these estimates could occur in the near term.</span></p>
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278628000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300332000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1202599000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1263834000
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
11612000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
63643000
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5556000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
74332000
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
11427000
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
7953000
CY2022Q4 sph Consideration Paid At Closing
ConsiderationPaidAtClosing
110348000
CY2022Q4 sph Assumption Of Debt And Accrued Interest
AssumptionOfDebtAndAccruedInterest
81717000
CY2022Q4 sph Total Consideration
TotalConsideration
192065000
CY2022Q4 sph Less Estimated Cash And Working Capital
LessEstimatedCashAndWorkingCapital
-2065000
CY2022Q4 sph Total Purchase Price
TotalPurchasePrice
190000000
CY2023Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
42924000
CY2022Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
5100000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P12Y
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
500000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10030000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4100000
CY2023Q2 us-gaap Other Restricted Assets Current
OtherRestrictedAssetsCurrent
600000
CY2022Q3 us-gaap Other Restricted Assets Current
OtherRestrictedAssetsCurrent
0
CY2023Q2 us-gaap Other Restricted Assets Noncurrent
OtherRestrictedAssetsNoncurrent
8074000
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
354000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4695000
sph Maximum Maturity Period Of Highly Liquid Investment Considered As Cash Equivalents
MaximumMaturityPeriodOfHighlyLiquidInvestmentConsideredAsCashEquivalents
P3M
CY2023Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
11585000
CY2022Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2023Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
959685000
CY2022Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
884000000
CY2022Q3 us-gaap Other Restricted Assets Noncurrent
OtherRestrictedAssetsNoncurrent
0
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
18704000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4100000
CY2023Q2 us-gaap Energy Related Inventory
EnergyRelatedInventory
52902000
CY2022Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
64240000
CY2023Q2 us-gaap Other Inventory
OtherInventory
3639000
CY2022Q3 us-gaap Other Inventory
OtherInventory
2681000
CY2023Q2 us-gaap Inventory Net
InventoryNet
56541000
CY2022Q3 us-gaap Inventory Net
InventoryNet
66921000
sph Projection Period For Discounted Cash Flow Analyses To Estimate Reporting Unit Fair Value
ProjectionPeriodForDiscountedCashFlowAnalysesToEstimateReportingUnitFairValue
P10Y
CY2022Q3 us-gaap Goodwill Gross
GoodwillGross
1119885000
CY2022Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6462000
CY2022Q3 us-gaap Goodwill
Goodwill
1113423000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
35353000
CY2023Q2 us-gaap Goodwill Gross
GoodwillGross
1155238000
CY2023Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6462000
CY2023Q2 us-gaap Goodwill
Goodwill
1148776000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
620254000
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
568822000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
536704000
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
528820000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
83550000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
40002000
us-gaap Lessee Operating Lease Assumptions And Judgments Discount Rate Description
LesseeOperatingLeaseAssumptionsAndJudgmentsDiscountRateDescription
As most of the Partnership’s leases do not provide an implicit rate, the Partnership uses its estimated incremental borrowing rate based on the information available at the commencement date, adjusted for the lease term, to determine the present value of the lease payments. This rate is calculated based on a collateralized rate for the specific leasing activities of the Partnership.
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Some leases include one or more options to renew at the Partnership’s discretion, with renewal terms that can extend the lease from one to fifteen additional years. The renewal options are included in the measurement of the right-of-use assets and lease liabilities if the Partnership is reasonably certain to exercise the renewal options.
CY2023Q2 us-gaap Lease Cost
LeaseCost
10558000
CY2022Q2 us-gaap Lease Cost
LeaseCost
10462000
us-gaap Lease Cost
LeaseCost
31170000
us-gaap Lease Cost
LeaseCost
30848000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
10542000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
10519000
us-gaap Operating Lease Payments
OperatingLeasePayments
31511000
us-gaap Operating Lease Payments
OperatingLeasePayments
31194000
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2026000
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6354000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
23304000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
31143000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.056
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
10052000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
37126000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32703000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
27259000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17209000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
32942000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
157291000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24884000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
132407000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
499347
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
633125
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1226434000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1089600000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10985000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12271000
CY2022Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-295000
CY2021Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-638000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1215449000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1077329000
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.055
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
80645000
sph Consolidated Fixed Charge Coverage Ratio Minimum
ConsolidatedFixedChargeCoverageRatioMinimum
1.75
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
160000000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
350000000
CY2023Q2 sph Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
730645000
sph Maximum Period After End Of Each Term Partnership Makes Distributions To Its Limited Partners
MaximumPeriodAfterEndOfEachTermPartnershipMakesDistributionsToItsLimitedPartners
P45D
us-gaap Distribution Made To Limited Partner Declaration Date
DistributionMadeToLimitedPartnerDeclarationDate
2023-07-20
us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.325
sph Distribution Made To Member Or Limited Partner Distributions Declared Per Unit Annualized Basis
DistributionMadeToMemberOrLimitedPartnerDistributionsDeclaredPerUnitAnnualizedBasis
1.3
us-gaap Distribution Made To Limited Partner Distribution Date
DistributionMadeToLimitedPartnerDistributionDate
2023-08-08
us-gaap Distribution Made To Limited Partner Date Of Record
DistributionMadeToLimitedPartnerDateOfRecord
2023-08-01
CY2023Q2 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
63060000
CY2022Q3 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
64065000
CY2023Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
15818000
CY2022Q3 us-gaap Loss Contingency Receivable
LossContingencyReceivable
15710000
us-gaap Guarantee Obligations Term
GuaranteeObligationsTerm
2032
CY2023Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
37481000
CY2023Q2 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
21675000
CY2022Q3 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
22496000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278628000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
300332000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1202599000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1263834000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
14866000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
14771000
us-gaap Operating Income Loss
OperatingIncomeLoss
202860000
us-gaap Operating Income Loss
OperatingIncomeLoss
243988000
CY2023Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
18733000
CY2022Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
15004000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
54598000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
45557000
CY2023Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1150000
CY2022Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
2031000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3231000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4395000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
244000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
271000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
421000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
171000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-5261000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2535000
us-gaap Net Income Loss
NetIncomeLoss
144610000
us-gaap Net Income Loss
NetIncomeLoss
193865000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15537000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14009000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45380000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
44356000
CY2023Q2 us-gaap Assets
Assets
2280425000
CY2022Q3 us-gaap Assets
Assets
2103726000

Files In Submission

Name View Source Status
0000950170-23-037696-index-headers.html Edgar Link pending
0000950170-23-037696-index.html Edgar Link pending
0000950170-23-037696.txt Edgar Link pending
0000950170-23-037696-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sph-20230624.htm Edgar Link pending
sph-20230624.xsd Edgar Link pending
sph-ex31_1.htm Edgar Link pending
sph-ex31_2.htm Edgar Link pending
sph-ex32_1.htm Edgar Link pending
sph-ex32_2.htm Edgar Link pending
sph-20230624_def.xml Edgar Link unprocessable
sph-20230624_lab.xml Edgar Link unprocessable
sph-20230624_pre.xml Edgar Link unprocessable
sph-20230624_htm.xml Edgar Link completed
sph-20230624_cal.xml Edgar Link unprocessable