$SPH
SUBURBAN PROPANE PARTNERS LP

2019 Q2 Form 10-Q Financial Statement

#000156459019030540 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $214.2M $241.9M
YoY Change -11.46% 8.54%
Cost Of Revenue $78.60M $95.39M
YoY Change -17.61% 3.58%
Gross Profit $135.6M $146.5M
YoY Change -7.46% 12.04%
Gross Profit Margin 63.31% 60.57%
Selling, General & Admin $16.45M $14.70M
YoY Change 11.87% 13.08%
% of Gross Profit 12.13% 10.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.15M $31.26M
YoY Change -3.54% -2.01%
% of Gross Profit 22.23% 21.33%
Operating Expenses $144.4M $142.3M
YoY Change 1.48% 0.28%
Operating Profit -$8.784M $4.233M
YoY Change -307.51% -138.14%
Interest Expense -$18.77M -$15.70M
YoY Change 19.54% -18.23%
% of Operating Profit -370.9%
Other Income/Expense, Net -$1.176M -$1.200M
YoY Change -2.0%
Pretax Income -$28.87M -$16.45M
YoY Change 75.47% -44.42%
Income Tax $175.0K $144.0K
% Of Pretax Income
Net Earnings -$29.04M -$16.60M
YoY Change 75.0% -44.12%
Net Earnings / Revenue -13.56% -6.86%
Basic Earnings Per Share -$0.47 -$0.27
Diluted Earnings Per Share -$0.47 -$0.27
COMMON SHARES
Basic Shares Outstanding 62.01M 61.60M
Diluted Shares Outstanding 62.01M 61.60M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.498M $3.400M
YoY Change -26.53% 6.25%
Cash & Equivalents $2.498M $3.439M
Short-Term Investments
Other Short-Term Assets $19.61M $22.40M
YoY Change -12.44% 75.0%
Inventory $40.70M $49.80M
Prepaid Expenses
Receivables $77.76M $88.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $140.6M $163.8M
YoY Change -14.19% 25.23%
LONG-TERM ASSETS
Property, Plant & Equipment $631.0M $659.6M
YoY Change -4.34% -6.63%
Goodwill $1.098B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.92M $25.30M
YoY Change -9.42% -0.78%
Total Long-Term Assets $1.895B $1.968B
YoY Change -3.72% -4.5%
TOTAL ASSETS
Total Short-Term Assets $140.6M $163.8M
Total Long-Term Assets $1.895B $1.968B
Total Assets $2.035B $2.132B
YoY Change -4.52% -2.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.12M $31.10M
YoY Change -12.78% 6.87%
Accrued Expenses $43.87M $43.30M
YoY Change 1.31% 10.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $149.6M $153.7M
YoY Change -2.64% -1.41%
LONG-TERM LIABILITIES
Long-Term Debt $1.240B $1.262B
YoY Change -1.74% 0.96%
Other Long-Term Liabilities $76.46M $137.4M
YoY Change -44.35% -3.03%
Total Long-Term Liabilities $1.317B $1.262B
YoY Change 4.32% -9.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.6M $153.7M
Total Long-Term Liabilities $1.317B $1.262B
Total Liabilities $1.522B $1.553B
YoY Change -2.03% 0.35%
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 $513.4M $578.3M
YoY Change
Total Liabilities & Shareholders Equity $2.035B $2.132B
YoY Change -4.52% -2.73%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$29.04M -$16.60M
YoY Change 75.0% -44.12%
Depreciation, Depletion And Amortization $30.15M $31.26M
YoY Change -3.54% -2.01%
Cash From Operating Activities $64.86M $72.50M
YoY Change -10.54% 62.92%
INVESTING ACTIVITIES
Capital Expenditures -$7.731M -$7.600M
YoY Change 1.72% 58.33%
Acquisitions $5.509M $10.62M
YoY Change -48.14%
Other Investing Activities -$6.758M -$8.600M
YoY Change -21.42% -1820.0%
Cash From Investing Activities -$14.49M -$16.30M
YoY Change -11.11% 279.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.80M -58.60M
YoY Change -8.19% 33.49%
NET CHANGE
Cash From Operating Activities 64.86M 72.50M
Cash From Investing Activities -14.49M -16.30M
Cash From Financing Activities -53.80M -58.60M
Net Change In Cash -3.430M -2.400M
YoY Change 42.92% -35.14%
FREE CASH FLOW
Cash From Operating Activities $64.86M $72.50M
Capital Expenditures -$7.731M -$7.600M
Free Cash Flow $72.59M $80.10M
YoY Change -9.38% 62.47%

Facts In Submission

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us-gaap Nature Of Operations
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Partnership Organization and Formation</p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.  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 61,734,551 Common Units outstanding at June 29, 2019.  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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 784 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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Partnership’s fuel oil and refined fuels, natural gas and electricity and services 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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Suburban Energy Finance Corp., a direct 100%-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.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p>
CY2019Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
61734551
CY2019Q2 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
1
us-gaap Fiscal Period
FiscalPeriod
<p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Fiscal Period.<span style="font-weight:normal;">  The Partnership uses a 52/53 week fiscal year which ends on the last Saturday in September.  The Partnership’s fiscal quarters are generally thirteen weeks in duration.  When the Partnership’s fiscal year is 53 weeks long, the corresponding fourth quarter is fourteen weeks in duration. </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
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates.<span style="font-weight:normal;">  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 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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications.<span style="font-weight:normal;">  Certain prior period amounts have been reclassified to conform to the current period presentation.  See Recently Adopted Accounting</span><span style="color:#000000;font-weight:normal;"> Pronouncements, below.</span></p>
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
214212000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
241936000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1095693000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1151495000
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6735000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
65881000
CY2018Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6758000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
60579000
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18581000
CY2018Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9606000
CY2019Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
12000000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11365000
CY2019Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2850000
CY2019Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2250000
CY2019Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
8000000
CY2019Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5250000
CY2019Q2 us-gaap Business Acquisition Equity Interest Issued Or Issuable Value Assigned
BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned
1600000
sph Maximum Maturity Period Of Highly Liquid Investment Considered As Cash Equivalents
MaximumMaturityPeriodOfHighlyLiquidInvestmentConsideredAsCashEquivalents
P3M
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.01
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1546000
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
361000
CY2017Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
4108000
CY2017Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
737000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-1488000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
361000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-3277000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
737000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
434000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
1352000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases
158000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
997000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
-800000
us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.60
sph Distribution Made To Member Or Limited Partner Distributions Declared Per Unit Annualized Basis
DistributionMadeToMemberOrLimitedPartnerDistributionsDeclaredPerUnitAnnualizedBasis
2.40
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
0
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1489000
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1383000
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
158000
CY2019Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
3891
CY2018Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2019Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1121795000
CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1094862000
CY2019Q2 us-gaap Energy Related Inventory
EnergyRelatedInventory
38778000
CY2018Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
57834000
CY2019Q2 us-gaap Other Inventory
OtherInventory
1919000
CY2018Q3 us-gaap Other Inventory
OtherInventory
1278000
CY2019Q2 us-gaap Inventory Net
InventoryNet
40697000
CY2018Q3 us-gaap Inventory Net
InventoryNet
59112000
CY2018Q3 us-gaap Goodwill Gross
GoodwillGross
1099932000
CY2018Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6462000
CY2018Q3 us-gaap Goodwill
Goodwill
1093470000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
4615000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
544566000
CY2018Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
534939000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
401962000
CY2018Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
359756000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
142604000
CY2018Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
175183000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
299569
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
237697
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1252200000
CY2018Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1268600000
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11948000
CY2018Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13462000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1240252000
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1255138000
CY2019Q2 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
sph Consolidated Fixed Charge Coverage Ratio Minimum
ConsolidatedFixedChargeCoverageRatioMinimum
1.75
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
127200000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1125000000
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
2019-07-25
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-24670000
CY2017Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-28812000
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1086000
us-gaap Distribution Made To Limited Partner Distribution Date
DistributionMadeToLimitedPartnerDistributionDate
2019-08-13
us-gaap Distribution Made To Limited Partner Date Of Record
DistributionMadeToLimitedPartnerDateOfRecord
2019-08-06
CY2019Q2 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
69783000
CY2018Q3 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
70567000
CY2019Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
19069000
CY2018Q3 us-gaap Loss Contingency Receivable
LossContingencyReceivable
20837000
CY2019Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
sph Number Of Actions For Which Entity Is Unable To Estimate Possible Loss Or Range Of Loss
NumberOfActionsForWhichEntityIsUnableToEstimatePossibleLossOrRangeOfLoss
2
us-gaap Guarantee Obligations Term
GuaranteeObligationsTerm
2028
CY2019Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
17975000
CY2019Q2 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
21710000
CY2018Q3 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
22509000
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23566000
CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-27298000
CY2019Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-552000
CY2018Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-757000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1656000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2271000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
552000
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
757000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1656000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2271000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23014000
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-26541000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23014000
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-26541000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
214212000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
241936000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1095693000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1151495000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-8784000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4233000
us-gaap Operating Income Loss
OperatingIncomeLoss
181840000
us-gaap Operating Income Loss
OperatingIncomeLoss
188557000
CY2019Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
18906000
CY2018Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
19512000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
58041000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
58428000
CY2019Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1176000
CY2018Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1172000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3527000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3518000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
175000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
144000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
578000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-749000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-29041000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-16595000
us-gaap Net Income Loss
NetIncomeLoss
119694000
us-gaap Net Income Loss
NetIncomeLoss
127360000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
30151000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31259000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
90845000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
94593000
CY2019Q2 us-gaap Assets
Assets
2035143000
CY2018Q3 us-gaap Assets
Assets
2101199000

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