$SPH
SUBURBAN PROPANE PARTNERS LP

2020 Q2 Form 10-Q Financial Statement

#000156459020037421 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2017 Q4
Revenue $206.9M $214.2M $373.3M
YoY Change -3.41% -11.46% 17.64%
Cost Of Revenue $59.69M $78.60M $163.7M
YoY Change -24.06% -17.61% 38.03%
Gross Profit $147.2M $135.6M $209.6M
YoY Change 8.55% -7.46% 5.49%
Gross Profit Margin 71.15% 63.31% 56.15%
Selling, General & Admin $17.10M $16.45M $16.80M
YoY Change 3.97% 11.87% 12.0%
% of Gross Profit 11.61% 12.13% 8.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.15M $30.15M $31.10M
YoY Change -3.31% -3.54% -0.64%
% of Gross Profit 19.8% 22.23% 14.84%
Operating Expenses $142.3M $144.4M $146.4M
YoY Change -1.43% 1.48% 0.48%
Operating Profit $4.880M -$8.784M $56.92M
YoY Change -155.56% -307.51% 7.4%
Interest Expense -$18.47M -$18.77M -$21.00M
YoY Change -1.57% 19.54% 14.75%
% of Operating Profit -378.57% -36.89%
Other Income/Expense, Net -$1.878M -$1.176M -$1.200M
YoY Change 59.69% -2.0%
Pretax Income -$15.47M -$28.87M $36.23M
YoY Change -46.4% 75.47% 4.42%
Income Tax $106.0K $175.0K -$934.0K
% Of Pretax Income -2.58%
Net Earnings -$15.58M -$29.04M $37.17M
YoY Change -46.36% 75.0% 7.73%
Net Earnings / Revenue -7.53% -13.56% 9.96%
Basic Earnings Per Share -$0.47 $0.61
Diluted Earnings Per Share -$249.9K -$0.47 $0.60
COMMON SHARES
Basic Shares Outstanding 62.01M 61.33M
Diluted Shares Outstanding 62.01M 61.53M

Balance Sheet

Concept 2020 Q2 2019 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.186M $2.498M $5.900M
YoY Change 67.57% -26.53% 28.26%
Cash & Equivalents $4.186M $2.498M $5.900M
Short-Term Investments
Other Short-Term Assets $15.62M $19.61M $26.30M
YoY Change -20.38% -12.44% 33.5%
Inventory $42.00M $40.70M $61.80M
Prepaid Expenses
Receivables $65.43M $77.76M $138.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $127.2M $140.6M $232.7M
YoY Change -9.49% -14.19% 24.57%
LONG-TERM ASSETS
Property, Plant & Equipment $723.6M $631.0M $677.6M
YoY Change 14.68% -4.34% -7.22%
Goodwill $1.104B $1.098B
YoY Change 0.52%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.04M $22.92M $24.70M
YoY Change -3.82% -9.42% 21.67%
Total Long-Term Assets $1.948B $1.895B $2.004B
YoY Change 2.81% -3.72% -4.92%
TOTAL ASSETS
Total Short-Term Assets $127.2M $140.6M $232.7M
Total Long-Term Assets $1.948B $1.895B $2.004B
Total Assets $2.075B $2.035B $2.236B
YoY Change 1.96% -4.52% -2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.42M $27.12M $73.50M
YoY Change 8.47% -12.78% 6.83%
Accrued Expenses $51.89M $43.87M $38.40M
YoY Change 18.3% 1.31% -4.95%
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 $207.2M $149.6M $222.6M
YoY Change 38.48% -2.64% -5.4%
LONG-TERM LIABILITIES
Long-Term Debt $1.225B $1.240B $1.320B
YoY Change -1.25% -1.74% 7.52%
Other Long-Term Liabilities $220.8M $76.46M $137.7M
YoY Change 188.76% -44.35% -0.94%
Total Long-Term Liabilities $1.225B $1.317B $1.320B
YoY Change -6.98% 4.32% -3.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.2M $149.6M $222.6M
Total Long-Term Liabilities $1.225B $1.317B $1.320B
Total Liabilities $1.653B $1.522B $1.680B
YoY Change 8.62% -2.03% 4.89%
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 $422.2M $513.4M $556.0M
YoY Change
Total Liabilities & Shareholders Equity $2.075B $2.035B $2.236B
YoY Change 1.96% -4.52% -2.52%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income -$15.58M -$29.04M $37.17M
YoY Change -46.36% 75.0% 7.73%
Depreciation, Depletion And Amortization $29.15M $30.15M $31.10M
YoY Change -3.31% -3.54% -0.64%
Cash From Operating Activities $77.67M $64.86M $2.716M
YoY Change 19.74% -10.54% -88.29%
INVESTING ACTIVITIES
Capital Expenditures -$5.631M -$7.731M -$8.500M
YoY Change -27.16% 1.72% -224.49%
Acquisitions $5.509M $4.051M
YoY Change -48.14%
Other Investing Activities $166.0K -$6.758M $100.0K
YoY Change -102.46% -21.42% -95.24%
Cash From Investing Activities -$5.465M -$14.49M -$8.378M
YoY Change -62.28% -11.11% 78.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -73.21M -53.80M 8.780M
YoY Change 36.08% -8.19% -117.12%
NET CHANGE
Cash From Operating Activities 77.67M 64.86M 2.716M
Cash From Investing Activities -5.465M -14.49M -8.378M
Cash From Financing Activities -73.21M -53.80M 8.780M
Net Change In Cash -1.009M -3.430M 3.118M
YoY Change -70.58% 42.92% -109.51%
FREE CASH FLOW
Cash From Operating Activities $77.67M $64.86M $2.716M
Capital Expenditures -$5.631M -$7.731M -$8.500M
Free Cash Flow $83.30M $72.59M $11.22M
YoY Change 14.75% -9.38% -31.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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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-top:12pt;margin-bottom:0pt;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;color:#000000;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;color:#000000;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%;color:#000000;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 62,133,439 Common Units outstanding at June 27, 2020.  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%;color:#000000;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%;color:#000000;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%;color:#000000;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%;color:#000000;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>
CY2020Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
62133439
CY2020Q2 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
us-gaap Fiscal Period
FiscalPeriod
<p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;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
CY2020Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
419000
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1546000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;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;color:#000000;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 Pronouncements, below.</span></p>
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
103100000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
103100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
941839000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1095693000
CY2020Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8725000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
66321000
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6735000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
65881000
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
11169000
CY2019Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
7051000
sph Maximum Maturity Period Of Highly Liquid Investment Considered As Cash Equivalents
MaximumMaturityPeriodOfHighlyLiquidInvestmentConsideredAsCashEquivalents
P3M
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
361000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-419000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0
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 Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0
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
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 Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0
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
997000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
0
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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
CY2020Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
5563000
CY2019Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
5392000
CY2020Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1142501000
CY2019Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1147647000
CY2020Q2 us-gaap Energy Related Inventory
EnergyRelatedInventory
39615000
CY2019Q3 us-gaap Energy Related Inventory
EnergyRelatedInventory
43217000
us-gaap Lease Cost
LeaseCost
23249000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
8375000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
26917000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
21808000
CY2020Q2 us-gaap Other Inventory
OtherInventory
2386000
CY2019Q3 us-gaap Other Inventory
OtherInventory
1819000
CY2020Q2 us-gaap Inventory Net
InventoryNet
42001000
CY2019Q3 us-gaap Inventory Net
InventoryNet
45036000
CY2019Q3 us-gaap Goodwill Gross
GoodwillGross
1104547000
CY2019Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6462000
CY2019Q3 us-gaap Goodwill
Goodwill
1098085000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
5696000
CY2020Q2 us-gaap Goodwill Gross
GoodwillGross
1110243000
CY2020Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6462000
CY2020Q2 us-gaap Goodwill
Goodwill
1103781000
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
557333000
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
544566000
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
458990000
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
416129000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
98343000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
128437000
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.
CY2020Q2 us-gaap Lease Cost
LeaseCost
8314000
us-gaap Operating Lease Payments
OperatingLeasePayments
23628000
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6616000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
28061000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7802000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
29568000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
16393000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
34671000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
137159000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21672000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
115487000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
27110000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
23875000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
21068000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
16267000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
10980000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
25128000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
124428000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
379808
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
297662
us-gaap Distribution Made To Limited Partner Distribution Date
DistributionMadeToLimitedPartnerDistributionDate
2020-08-11
us-gaap Distribution Made To Limited Partner Date Of Record
DistributionMadeToLimitedPartnerDateOfRecord
2020-08-04
CY2020Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1234700000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1238500000
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9929000
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11443000
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1224771000
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1227057000
CY2020Q2 sph Percentage Of Wholly Owned Subsidiary
PercentageOfWhollyOwnedSubsidiary
1
sph Consolidated Fixed Charge Coverage Ratio Minimum
ConsolidatedFixedChargeCoverageRatioMinimum
1.75
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
634700000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
600000000
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
2020-07-23
us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
0.30
sph Distribution Made To Member Or Limited Partner Distributions Declared Per Unit Annualized Basis
DistributionMadeToMemberOrLimitedPartnerDistributionsDeclaredPerUnitAnnualizedBasis
1.20
CY2020Q2 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
72652000
CY2019Q3 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
67279000
CY2020Q2 us-gaap Loss Contingency Receivable
LossContingencyReceivable
17283000
CY2019Q3 us-gaap Loss Contingency Receivable
LossContingencyReceivable
18110000
CY2020Q2 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
CY2019Q4 sph Product Liability And Litigation Settlement Expense
ProductLiabilityAndLitigationSettlementExpense
5000000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
us-gaap Guarantee Obligations Term
GuaranteeObligationsTerm
2028
CY2020Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
24033000
CY2020Q2 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
20654000
CY2019Q3 us-gaap Multiemployer Plans Withdrawal Obligation
MultiemployerPlansWithdrawalObligation
21441000
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-25104000
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23566000
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-26186000
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-24670000
CY2020Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-541000
CY2019Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-552000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1623000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1656000
CY2020Q2 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
900000
CY2019Q2 us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
0
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
900000
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Net Of Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
0
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1441000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
552000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2523000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1656000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23663000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23014000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23663000
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-23014000
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
CY2019Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-496000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206906000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
214212000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
941839000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1095693000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4880000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-8784000
us-gaap Operating Income Loss
OperatingIncomeLoss
162359000
us-gaap Operating Income Loss
OperatingIncomeLoss
181840000
CY2020Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2019Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-109000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2020Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
18474000
CY2019Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
18906000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
56722000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
58041000
CY2020Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1878000
CY2019Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1176000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3835000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3527000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
106000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
175000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-253000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
578000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-15578000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-29041000
us-gaap Net Income Loss
NetIncomeLoss
101946000
us-gaap Net Income Loss
NetIncomeLoss
119694000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29153000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
30151000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
87715000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
90845000
CY2020Q2 us-gaap Assets
Assets
2074968000
CY2019Q3 us-gaap Assets
Assets
1998348000

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