2019 Q3 Form 10-K Financial Statement

#000156459019044639 Filed on November 27, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q3
Revenue $172.0M $214.2M $192.9M
YoY Change -10.83% -11.46% -2.13%
Cost Of Revenue $58.53M $78.60M $87.10M
YoY Change -32.8% -17.61% 5.07%
Gross Profit $113.5M $135.6M $105.8M
YoY Change 7.26% -7.46% -7.36%
Gross Profit Margin 65.97% 63.31% 54.85%
Selling, General & Admin $16.10M $16.45M $16.60M
YoY Change -3.04% 11.87% -3.49%
% of Gross Profit 14.18% 12.13% 15.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.03M $30.15M $30.60M
YoY Change -1.87% -3.54% -4.67%
% of Gross Profit 26.46% 22.23% 28.92%
Operating Expenses $143.7M $144.4M $138.1M
YoY Change 4.06% 1.48% -1.29%
Operating Profit -$30.23M -$8.784M -$32.30M
YoY Change -6.41% -307.51% 25.68%
Interest Expense -$19.38M -$18.77M -$17.30M
YoY Change 12.01% 19.54% 51.75%
% of Operating Profit
Other Income/Expense, Net -$1.175M -$1.176M -$1.200M
YoY Change -2.08% -2.0% -90.98%
Pretax Income -$50.78M -$28.87M -$50.70M
YoY Change 0.16% 75.47% 0.6%
Income Tax $279.0K $175.0K $100.0K
% Of Pretax Income
Net Earnings -$51.06M -$29.04M -$50.80M
YoY Change 0.52% 75.0% 0.4%
Net Earnings / Revenue -29.69% -13.56% -26.33%
Basic Earnings Per Share -$0.47
Diluted Earnings Per Share -$822.5K -$0.47 -$824.7K
COMMON SHARES
Basic Shares Outstanding 61.74M 62.01M
Diluted Shares Outstanding 62.01M

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.441M $2.498M $5.200M
YoY Change -53.06% -26.53% 85.71%
Cash & Equivalents $2.441M $2.498M $5.164M
Short-Term Investments
Other Short-Term Assets $16.62M $19.61M $22.19M
YoY Change -25.1% -12.44% 24.68%
Inventory $45.04M $40.70M $59.11M
Prepaid Expenses
Receivables $59.34M $77.76M $71.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $123.4M $140.6M $157.8M
YoY Change -21.76% -14.19% 13.1%
LONG-TERM ASSETS
Property, Plant & Equipment $627.2M $631.0M $649.2M
YoY Change -3.39% -4.34% -6.27%
Goodwill $1.098B $1.098B $1.093B
YoY Change 0.42% -0.11%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.18M $22.92M $25.56M
YoY Change -17.14% -9.42% 3.68%
Total Long-Term Assets $1.875B $1.895B $1.943B
YoY Change -3.53% -3.72% -4.35%
TOTAL ASSETS
Total Short-Term Assets $123.4M $140.6M $157.8M
Total Long-Term Assets $1.875B $1.895B $1.943B
Total Assets $1.998B $2.035B $2.101B
YoY Change -4.89% -4.52% -3.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.09M $27.12M $38.26M
YoY Change -10.92% -12.78% -1.0%
Accrued Expenses $64.47M $43.87M $61.40M
YoY Change 5.0% 1.31% 12.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $216.1M $149.6M $219.0M
YoY Change -1.33% -2.64% 4.12%
LONG-TERM LIABILITIES
Long-Term Debt $1.227B $1.240B $1.255B
YoY Change -2.24% -1.74% -1.34%
Other Long-Term Liabilities $79.82M $76.46M $78.40M
YoY Change 1.8% -44.35% -3.03%
Total Long-Term Liabilities $1.307B $1.317B $1.334B
YoY Change -2.0% 4.32% -1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $216.1M $149.6M $219.0M
Total Long-Term Liabilities $1.307B $1.317B $1.334B
Total Liabilities $1.575B $1.522B $1.607B
YoY Change -2.04% -2.03% -0.68%
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 $423.8M $513.4M $493.8M
YoY Change
Total Liabilities & Shareholders Equity $1.998B $2.035B $2.101B
YoY Change -4.89% -4.52% -3.23%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q3
OPERATING ACTIVITIES
Net Income -$51.06M -$29.04M -$50.80M
YoY Change 0.52% 75.0% 0.4%
Depreciation, Depletion And Amortization $30.03M $30.15M $30.60M
YoY Change -1.87% -3.54% -4.67%
Cash From Operating Activities $60.68M $64.86M $54.30M
YoY Change 11.75% -10.54% 36.43%
INVESTING ACTIVITIES
Capital Expenditures -$10.70M -$7.731M -$7.100M
YoY Change 50.63% 1.72% 14.52%
Acquisitions $5.509M
YoY Change -48.14%
Other Investing Activities $701.0K -$6.758M $700.0K
YoY Change 0.14% -21.42% -50.0%
Cash From Investing Activities -$9.994M -$14.49M -$6.300M
YoY Change 58.63% -11.11% 31.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.74M -53.80M -46.20M
YoY Change 9.83% -8.19% 30.14%
NET CHANGE
Cash From Operating Activities 60.68M 64.86M 54.30M
Cash From Investing Activities -9.994M -14.49M -6.300M
Cash From Financing Activities -50.74M -53.80M -46.20M
Net Change In Cash -57.00K -3.430M 1.800M
YoY Change -103.17% 42.92% -460.0%
FREE CASH FLOW
Cash From Operating Activities $60.68M $64.86M $54.30M
Capital Expenditures -$10.70M -$7.731M -$7.100M
Free Cash Flow $71.37M $72.59M $61.40M
YoY Change 16.24% -9.38% 33.48%

Facts In Submission

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592630000
CY2017 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
476661000
CY2019 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
402957000
CY2018 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
397489000
CY2017 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
397354000
CY2019 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
71034000
CY2018 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
66246000
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
57338000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
120872000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
125222000
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
127938000
CY2019 us-gaap Costs And Expenses
CostsAndExpenses
1116851000
CY2018 us-gaap Costs And Expenses
CostsAndExpenses
1181587000
CY2017 us-gaap Costs And Expenses
CostsAndExpenses
1059291000
CY2019 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2018 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-4823000
CY2017 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
150854000
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2019 us-gaap Interest Expense
InterestExpense
76663000
CY2018 us-gaap Interest Expense
InterestExpense
77383000
CY2017 us-gaap Interest Expense
InterestExpense
75263000
CY2019 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4702000
CY2018 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4692000
CY2017 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
13311000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
37995000
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.24
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61992000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61557000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61224000
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.10
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.24
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62366000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61847000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61542000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
68632000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
76534000
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-10000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-215000
CY2019 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
-1516000
CY2018 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
4142000
CY2017 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
10715000
CY2017 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
6100000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1516000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4142000
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
80676000
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
55015000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
120872000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
125222000
CY2019 us-gaap Restricted Stock Expense
RestrictedStockExpense
10521000
CY2018 us-gaap Restricted Stock Expense
RestrictedStockExpense
8198000
CY2019 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2019 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2019 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1
0
CY2019 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1688000
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11821000
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-14353000
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-8209000
CY2019 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-6960000
CY2019 us-gaap Increase Decrease In Insurance Liabilities
IncreaseDecreaseInInsuranceLiabilities
-3288000
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1628000
CY2019 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0
CY2018 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
2800000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39090000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22988000
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
350000000
CY2019 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
CY2018 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
CY2017 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
360931000
CY2018 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
350100000
CY2017 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
374845000
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
369145000
CY2017 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
312200000
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7064000
CY2018 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
147185000
CY2017 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
216576000
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2717000
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3459000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-168947000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-175385000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2375000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-34552000
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5164000
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2789000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
74121000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
76606000
CY2016Q3 us-gaap Partners Capital
PartnersCapital
708231000
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-10000
CY2017 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-215000
CY2017 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
10715000
CY2017 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
6100000
CY2017 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
216576000
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-974000
CY2017 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
7286000
CY2018 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
4142000
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-847000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
68632000
CY2019 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
-1516000
CY2019 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
147882000
CY2019 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1349000
CY2019 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1600000
CY2019 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
10521000
CY2019Q3 us-gaap Partners Capital
PartnersCapital
423830000
CY2019 us-gaap Nature Of Operations
NatureOfOperations
<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-bottom:0pt;margin-top: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-bottom:0pt;margin-top: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 61,735,197 Common Units outstanding at September 28, 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="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 serves approximately 1.0 million residential, commercial, industrial and agricultural customers through approximately 700 locations in 41 states.  The Partnership’s operations are principally concentrated in the east and west coast regions of the United States, as well as portions of the Midwest region of the United States and Alaska.  No single customer accounted for 10% or more of the Partnership’s revenues during fiscal 2019, 2018 or 2017.</p>
CY2019Q3 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
61735197
CY2019Q3 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
CY2019Q3 sph Number Of Active Residential Commercial Industrial And Agricultural Customers
NumberOfActiveResidentialCommercialIndustrialAndAgriculturalCustomers
1000000
CY2019Q3 sph Number Of Locations Served By Partnership
NumberOfLocationsServedByPartnership
700
CY2019Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
41
CY2019 us-gaap Fiscal Period
FiscalPeriod
<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;">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 13 weeks in duration.  When the Partnership’s fiscal year is 53 weeks long, as was the case for fiscal 2017, the corresponding fourth quarter is 14 weeks in duration.  Fiscal 2019 and 2018 included 52 weeks of operations.</span></p>
CY2019 sph Minimum Number Of Weeks In Fiscal Year Reporting Calendar
MinimumNumberOfWeeksInFiscalYearReportingCalendar
52
CY2019 sph Maximum Number Of Weeks In Fiscal Year Reporting Calendar
MaximumNumberOfWeeksInFiscalYearReportingCalendar
53
CY2019 sph Minimum Number Of Weeks In Fiscal Quarter
MinimumNumberOfWeeksInFiscalQuarter
13
CY2019 sph Maximum Number Of Weeks In Fiscal Quarter
MaximumNumberOfWeeksInFiscalQuarter
14
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1187886000
CY2019 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 </span></p> <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:normal;">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. </span><span style="font-weight:normal;">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.</span><span style="font-weight:normal;"> </span><span style="font-weight:normal;"> </span><span style="font-weight:normal;">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>
CY2019Q3 sph Number Of Limited Partnerships Included In Partnership
NumberOfLimitedPartnershipsIncludedInPartnership
2
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
373370
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
290020
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications.<span style="font-weight:normal;">  Certain prior period amounts have been reclassified to conform to the current period presentation.  See Recently Adopted Accounting Pronouncements, below.</span></p>
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1267705000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1344413000
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
66697000
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
61384000
CY2017 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
73093000
CY2019Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
7051000
CY2018Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9606000
CY2019Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
8000000
CY2019Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5509000
CY2019Q2 us-gaap Business Acquisition Equity Interest Issued Or Issuable Value Assigned
BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned
1600000
CY2019Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
2850000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2426000
CY2019Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
12000000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11365000
CY2018Q2 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
2
CY2018Q2 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
11900000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10622000
CY2017Q4 sph Business Disposition Sales Price
BusinessDispositionSalesPrice
2800000
CY2017Q4 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-4823000
CY2017Q4 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
4871000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4251000
CY2019 sph Maximum Period After End Of Each Term Partnership Makes Distributions To Its Limited Partners
MaximumPeriodAfterEndOfEachTermPartnershipMakesDistributionsToItsLimitedPartners
P45D
CY2017Q4 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
CY2016Q4 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.8875
CY2016Q4 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.8875
CY2018Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
CY2018Q1 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.6000
CY2017Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.8875
CY2017Q1 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.8875
CY2018Q2 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
CY2018Q2 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.6000
CY2017Q2 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.8875
CY2017Q2 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.8875
CY2019Q3 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
CY2018Q3 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6000
us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.6000
CY2019Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
43217000
CY2018Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
57834000
CY2019Q3 us-gaap Other Inventory
OtherInventory
1819000
CY2018Q3 us-gaap Other Inventory
OtherInventory
1278000
CY2019Q3 us-gaap Inventory Net
InventoryNet
45036000
CY2018Q3 us-gaap Inventory Net
InventoryNet
59112000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1390450000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1373528000
CY2019Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
763243000
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
724310000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
627207000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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4702000
CY2018 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4692000
CY2017 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
13311000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
857000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-606000
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
127938000

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