AMERIGAS PARTNERS LP, 10-Q filed on 2/8/2013
Quarterly Report
Document and Entity Information
3 Months Ended
Dec. 31, 2012
Jan. 31, 2013
Entity Information [Line Items]
 
 
Entity Registrant Name
AMERIGAS PARTNERS LP 
 
Entity Central Index Key
0000932628 
 
Document Type
10-Q 
 
Document Period End Date
Dec. 31, 2012 
 
Amendment Flag
false 
 
Document Fiscal Year Focus
2013 
 
Document Fiscal Period Focus
Q1 
 
Current Fiscal Year End Date
--09-30 
 
Entity Filer Category
Large Accelerated Filer 
 
Entity Common Stock, Shares Outstanding
 
92,816,905 
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Sep. 30, 2012
Dec. 31, 2011
Current assets:
 
 
 
Cash and cash equivalents
$ 117,630 
$ 60,102 
$ 58,756 
Accounts receivable (less allowances for doubtful accounts of $20,020, $17,217 and $18,438, respectively)
377,581 
266,677 
309,853 
Accounts receivable - related parties
1,594 
970 
1,359 
Inventories
174,410 
163,746 
160,004 
Derivative financial instruments
1,043 
1,478 
20 
Prepaid expenses and other current assets
23,048 
30,395 
14,355 
Total current assets
695,306 
523,368 
544,347 
Property, plant and equipment (less accumulated depreciation andamortization of $1,113,802, $1,075,528 and $964,403, respectively)
1,485,710 
1,499,225 
645,158 
Goodwill
1,914,827 
1,914,808 
692,166 
Intangible assets, net
526,153 
535,996 
40,007 
Other assets
43,779 
43,934 
22,501 
Total assets
4,665,775 
4,517,331 
1,944,179 
Current liabilities:
 
 
 
Current maturities of long-term debt
28,347 
30,706 
4,178 
Bank loans
177,200 
49,900 
226,000 
Accounts payable - trade
232,584 
170,424 
206,338 
Accounts payable - related parties
910 
2,012 
1,887 
Customer deposits and advances
143,687 
167,614 
67,405 
Derivative financial instruments
28,284 
42,347 
16,364 
Other current liabilities
172,865 
207,842 
94,702 
Total current liabilities
783,877 
670,845 
616,874 
Long-term debt
2,294,704 
2,297,363 
928,108 
Other noncurrent liabilities
85,911 
80,563 
61,486 
Total liabilities
3,164,492 
3,048,771 
1,606,468 
Commitments and contingencies (note 7)
   
   
   
AmeriGas Partners, L.P. partners' capital:
 
 
 
Common unitholders (units issued - 92,812,417, 92,801,347 and 57,127,796, respectively)
1,473,774 
1,455,702 
338,880 
General partner
17,156 
16,975 
3,419 
Accumulated other comprehensive (loss) income
(29,185)
(43,569)
(17,265)
Total AmeriGas Partners, L. P. partners' capital
1,461,745 
1,429,108 
325,034 
Noncontrolling interest
39,538 
39,452 
12,677 
Total partners' capital
1,501,283 
1,468,560 
337,711 
Total liabilities and partners' capital
$ 4,665,775 
$ 4,517,331 
$ 1,944,179 
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified
Dec. 31, 2012
Sep. 30, 2012
Dec. 31, 2011
Allowances for doubtful accounts
$ 20,020 
$ 17,217 
$ 18,438 
Depreciation and amortization on property, plant and equipment
$ 1,113,802 
$ 1,075,528 
$ 964,403 
Common units, issued (in units)
92,812,417 
92,801,347 
57,127,796 
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenues:
 
 
Propane
$ 797,059 
$ 637,283 
Other
79,588 
46,529 
Total, Revenues
876,647 
683,812 
Costs and expenses:
 
 
Cost of sales - propane (excluding depreciation shown below)
429,563 
429,980 
Cost of sales - other (excluding depreciation shown below)
22,521 
13,828 
Operating and administrative expenses
243,517 
159,910 
Depreciation
38,323 
20,931 
Amortization
11,028 
3,257 
Other income, net
(8,171)
(4,190)
Total, costs and expenses
736,781 
623,716 
Operating income
139,866 
60,096 
Interest expense
(41,196)
(16,533)
Income before income taxes
98,670 
43,563 
Income tax expense
(627)
(450)
Net income
98,043 
43,113 
Less: net income attributable to noncontrolling interest
(1,378)
(588)
Net income attributable to AmeriGas Partners, L.P.
96,665 
42,525 
General partner's interest in net income attributable to AmeriGas Partners, L.P.
5,219 
1,991 
Limited partners' interest in net income attributable to AmeriGas Partners, L.P.
$ 91,446 
$ 40,534 
Income per limited partner unit - basic and diluted:
 
 
Basic (in dollars per unit)
0.93 
0.55 
Diluted (in dollars per unit)
0.93 
0.55 
Average limited partner units outstanding (thousands):
 
 
Basic (in units)
92,820 
57,133 
Diluted (in units)
92,902 
57,193 
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Net income
$ 98,043 
$ 43,113 
Net losses on derivative instruments
(2,693)
(14,153)
Reclassification of net losses on derivative instruments
(17,224)
(1,722)
Other comprehensive income (loss)
14,531 
(12,431)
Comprehensive income
112,574 
30,682 
Less: comprehensive income attributable to noncontrolling interests
(1,525)
(462)
Comprehensive income attributable to AmeriGas Partners, L.P.
$ 111,049 
$ 30,220 
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
Net income
$ 98,043 
$ 43,113 
Adjustments to reconcile net income to net cash from operating activities
 
 
Depreciation and amortization
49,351 
24,188 
Provision for uncollectible accounts
4,091 
3,125 
Net change in realized gains and losses deferred as cash flow hedges
(798)
(2,304)
Other, net
642 
55 
Net change in:
 
 
Accounts receivable
(115,620)
(79,556)
Inventories
(10,664)
(23,994)
Accounts payable
61,057 
49,608 
Other current assets
(3,532)
(481)
Other current liabilities
(42,084)
(25,602)
Net cash provided (used) by operating activities
40,486 
(11,848)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
Expenditures for property, plant and equipment
(26,489)
(21,603)
Proceeds from disposals of assets
1,793 
993 
Acquisitions of businesses, net of cash acquired
0 
(1,273)
Net cash used by investing activities
(24,696)
(21,883)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
Distributions
(79,293)
(44,283)
Noncontrolling interest activity
(1,439)
(608)
Increase in bank loans
127,300 
130,500 
Repayments of long-term debt
(4,855)
(1,908)
Proceeds associated with equity based compensation plans, net of tax withheld
18 
153 
Capital contributions from General Partner
7 
1 
Net cash provided by financing activities
41,738 
83,855 
Cash and cash equivalents increase
57,528 
50,124 
CASH AND CASH EQUIVALENTS:
 
 
End of period
117,630 
58,756 
Beginning of period
60,102 
8,632 
Increase
$ 57,528 
$ 50,124 
Condensed Consolidated Statements of Partner's Capital (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Beginning Balance
$ 1,468,560 
$ 351,479 
Net income
98,043 
43,113 
Net losses on derivative instruments
(2,693)
(14,153)
Reclassification of net losses on derivative instruments
(17,224)
(1,722)
Distributions
(80,732)
(44,891)
Unit-based compensation expense
856 
287 
Common Units issued in connection with incentive compensation plans, net of tax withheld
25 
154 
Ending Balance
1,501,283 
337,711 
Common
 
 
Beginning Balance
1,455,702 
340,180 
Beginning Balance (in units)
92,801,347 
57,124,296 
Net income
91,446 
40,534 
Distributions
(74,248)
(42,274)
Unit-based compensation expense
856 
287 
Common Units issued in connection with incentive compensation plans, net of tax withheld
18 
153 
Common Units issued in connection with incentive compensation plans, net of tax withheld (in units)
11,070 
3,500 
Ending Balance
1,473,774 
338,880 
Ending Balance (in units)
92,812,417 
57,127,796 
Noncontrolling interest
 
 
Beginning Balance
39,452 
12,823 
Net income
1,378 
588 
Net losses on derivative instruments
(27)
(143)
Reclassification of net losses on derivative instruments
(174)
(17)
Distributions
(1,439)
(608)
Ending Balance
39,538 
12,677 
Total AmeriGas Partners, L.P. partners' capital
 
 
Beginning Balance
1,429,108 
338,656 
Net income
96,665 
42,525 
Net losses on derivative instruments
(2,666)
(14,010)
Reclassification of net losses on derivative instruments
(17,050)
(1,705)
Distributions
(79,293)
(44,283)
Unit-based compensation expense
856 
287 
Common Units issued in connection with incentive compensation plans, net of tax withheld
25 
154 
Ending Balance
1,461,745 
325,034 
General partner
 
 
Beginning Balance
16,975 
3,436 
Net income
5,219 
1,991 
Distributions
(5,045)
(2,009)
Common Units issued in connection with incentive compensation plans, net of tax withheld
7 
1 
Ending Balance
17,156 
3,419 
Accumulated other comprehensive income (loss)
 
 
Beginning Balance
(43,569)
(4,960)
Net losses on derivative instruments
(2,666)
(14,010)
Reclassification of net losses on derivative instruments
(17,050)
1,705 
Ending Balance
$ (29,185)
$ (17,265)
Nature of Operations
Nature of Operations
Nature of Operations

AmeriGas Partners, L.P. (“AmeriGas Partners”) is a publicly traded limited partnership that conducts a national propane distribution business through its principal operating subsidiary AmeriGas Propane, L.P. (“AmeriGas OLP”) and through AmeriGas OLP’s principal operating subsidiary Heritage Operating, L.P. (“HOLP”). AmeriGas OLP and HOLP are collectively referred to herein as the “Operating Partnerships.” AmeriGas Partners, AmeriGas OLP and HOLP are Delaware limited partnerships. AmeriGas Partners, the Operating Partnerships and all of their subsidiaries are collectively referred to herein as the “Partnership” or “we.” The Operating Partnerships are engaged in the distribution of propane and related equipment and supplies. The Operating Partnerships comprise the largest retail propane distribution business in the United States serving residential, commercial, industrial, motor fuel and agricultural customers in all 50 states.
At December 31, 2012, AmeriGas Propane, Inc. (the “General Partner”), an indirect wholly owned subsidiary of UGI Corporation (“UGI”), held a 1% general partner interest in AmeriGas Partners and a 1.01% general partner interest in AmeriGas OLP. The General Partner and its wholly owned subsidiary Petrolane Incorporated (“Petrolane,” a predecessor company of the Partnership) also owned 23,756,882 AmeriGas Partners Common Units (“Common Units”). The remaining Common Units outstanding comprise 39,488,173 publicly held Common Units and 29,567,362 Common Units held by a subsidiary of Energy Transfer Partners, L.P. (“ETP”) as a result of the January 12, 2012, acquisition of substantially all of ETP’s propane operations (“Heritage Propane”) (see Note 4). The Common Units represent limited partner interests in AmeriGas Partners. AmeriGas Partners holds a 98.99% limited partner interest in AmeriGas OLP.
AmeriGas Partners and the Operating Partnerships have no employees. Our operations are conducted by employees of the General Partner. The General Partner provides management and administrative services to Heritage Operating GP, LLC(“HOLP GP”), the general partner of HOLP, under a management services agreement.
The General Partner is reimbursed monthly for all direct and indirect expenses it incurs on our behalf (see Note 6).
Significant Accounting Policies
Significant Accounting Policies
Significant Accounting Policies

The condensed consolidated financial statements include the accounts of AmeriGas Partners and its majority-owned subsidiaries principally comprising the Operating Partnerships. We eliminate all significant intercompany accounts and transactions when we consolidate. We account for the General Partner’s 1.01% interest in AmeriGas OLP as noncontrolling interest in the condensed consolidated financial statements.
AmeriGas Finance Corp., AP Eagle Finance Corp. and AmeriGas Finance LLC are 100%-owned finance subsidiaries of AmeriGas Partners. Their sole purpose is to serve as issuers or co-obligors for debt securities issued or guaranteed by AmeriGas Partners. The 6.75% and 7.00% Senior Notes are fully and unconditionally guaranteed on a senior secured basis by AmeriGas Partners.
 
The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). They include all adjustments which we consider necessary for a fair statement of the results for the interim periods presented. Such adjustments consisted only of normal recurring items unless otherwise disclosed. The September 30, 2012, condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). These financial statements should be read in conjunction with the financial statements and related notes included in our Annual Report on Form 10-K for the year ended September 30, 2012 (“Partnership’s 2012 Annual Financial Statements and Notes”). Weather significantly impacts demand for propane and profitability because many customers use propane for heating purposes. Due to the seasonal nature of the Partnership’s propane business, the results of operations for interim periods are not necessarily indicative of the results to be expected for a full year.
Allocation of Net Income Attributable to AmeriGas Partners. Net income attributable to AmeriGas Partners, L.P. for partners’ capital and statement of operations presentation purposes is allocated to the General Partner and the limited partners in accordance with their respective ownership percentages after giving effect to amounts distributed to the General Partner in excess of its 1% general partner interest in AmeriGas Partners based on its incentive distribution rights (“IDRs”) under the Fourth Amended and Restated Agreement of Limited Partnership of AmeriGas Partners, as amended (“Partnership Agreement”).
Net Income Per Unit. Income per limited partner unit is computed in accordance with GAAP regarding the application of the two-class method for determining income per unit for master limited partnerships (“MLPs”) when IDRs are present. The two-class method requires that income per limited partner unit be calculated as if all earnings for the period were distributed and requires a separate calculation for each quarter and year-to-date period. In periods when our net income attributable to AmeriGas Partners exceeds our Available Cash, as defined in the Partnership Agreement, and is above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the General Partner. Generally, in periods when our Available Cash in respect of the quarter or year-to-date periods exceeds our net income (loss) attributable to AmeriGas Partners, the calculation according to the two-class method results in an allocation of earnings to the General Partner greater than its relative ownership interest in the Partnership (or in the case of a net loss attributable to AmeriGas Partners, an allocation of such net loss to the Common Unitholders greater than their relative ownership interest in the Partnership).
 
The following table sets forth the numerators and denominators of the basic and diluted income per limited partner unit computations:
 
 
 
Three Months Ended
December 31,
 
 
2012
 
2011
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method of MLPs
 
$
86,241

 
$
31,660

Weighted average Common Units outstanding—basic (thousands)
 
92,820

 
57,133

Potentially dilutive Common Units (thousands)
 
82

 
60

Weighted average Common Units outstanding—diluted (thousands)
 
92,902

 
57,193


Theoretical distributions of net income attributable to AmeriGas Partners, L.P. in accordance with the two-class method for the three months ended December 31, 2012 and 2011, resulted in an increased allocation of net income attributable to AmeriGas Partners, L.P. to the General Partner in the computation of income per limited partner unit which had the effect of decreasing earnings per limited partner unit by $0.06 and $0.16, respectively.
Potentially dilutive Common Units included in the diluted limited partner units outstanding computation reflect the effects of restricted Common Unit awards granted under the General Partner’s incentive compensation plans.
Comprehensive Income. Comprehensive income comprises net income and other comprehensive income (loss). Other comprehensive income (loss) principally results from gains and losses on derivative instruments qualifying as cash flow hedges, net of reclassifications to net income.
Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions.
Accounting Changes
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]
3.
Accounting Changes
New Accounting Standard Not Yet Adopted
Disclosures about Offsetting Assets and Liabilities. In December 2011, the Financial Accounting Standards Board issued new accounting guidance regarding disclosures about offsetting assets and liabilities. The new guidance requires an entity to disclose information about offsetting and related arrangements to enable users of financial statements to understand the effect of those arrangements on its financial position. The amendments will enhance disclosures by requiring improved information about financial instruments and derivative instruments that are either (1) offset in accordance with other GAAP or (2) subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the balance sheet. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013 (Fiscal 2014), and interim periods within those annual periods. We are currently evaluating the impact of the new guidance on our future disclosures.
Acquisition of Heritage Propane
Acquisition of Heritage Propane
Acquisition of Heritage Propane
On January 12, 2012, AmeriGas Partners completed the acquisition of Heritage Propane from ETP for total consideration of $2,604,827, comprising $1,472,199 in cash and 29,567,362 AmeriGas Partners Common Units with a fair value of $1,132,628 (the “Heritage Acquisition”). The Heritage Acquisition was consummated pursuant to a Contribution and Redemption Agreement dated October 15, 2011, as amended (the “Contribution Agreement”), by and among AmeriGas Partners, ETP, Energy Transfer Partners GP, L.P., the general partner of ETP, and Heritage ETC, L.P. For additional information on the Heritage Acquisition, see Note 4 to the Partnership’s 2012 Annual Financial Statements and Notes.
 
The following presents unaudited pro forma income statement and income per unit data as if the Heritage Acquisition had occurred on October 1, 2011:
 
 
Three Months Ended
December 31,
 
2012 (As Reported)
 
2011 (Pro Forma)
Revenues
$
876,647

 
$
1,106,198

Net income attributable to AmeriGas Partners, L.P.
$
96,665

 
$
58,312

Income per limited partner unit:
 
 
 
Basic
$
0.93

 
$
0.64

Diluted
$
0.93

 
$
0.64


The unaudited pro forma results of operations reflect Heritage Propane’s historical operating results after giving effect to adjustments directly attributable to the transaction that are expected to have a continuing effect. The unaudited pro forma consolidated results of operations are not necessarily indicative of the results that would have occurred had the Heritage Acquisition occurred on the date indicated nor are they necessarily indicative of future operating results.
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Goodwill and Intangible Assets

The Partnership’s goodwill and intangible assets comprise the following:
 
 
 
December 31,
2012
 
September 30,
2012
 
December 31,
2011
Goodwill (not subject to amortization)
 
$
1,914,827

 
$
1,914,808

 
$
692,166

Intangible assets:
 
 
 
 
 
 
Customer relationships and noncompete agreements
 
$
505,367

 
$
505,367

 
$
77,904

Trademarks and tradenames (not subject to amortization)
 
91,100

 
91,100

 
—

Gross carrying amount
 
596,467

 
596,467

 
77,904

Accumulated amortization
 
(70,314
)
 
(60,471
)
 
(37,897
)
Intangible assets, net
 
$
526,153

 
$
535,996

 
$
40,007


Amortization expense of intangible assets was $9,844 and $2,226 for the three months ended December 31, 2012 and 2011, respectively. No amortization is included in cost of sales in the Condensed Consolidated Statements of Operations. As of December 31, 2012, our expected aggregate amortization expense of intangible assets for the remainder of Fiscal 2013 and the next four fiscal years is as follows: remainder of Fiscal 2013 — $29,011; Fiscal 2014 — $37,554; Fiscal 2015 — $35,362; Fiscal 2016 — $34,190; Fiscal 2017 — $32,111.
Related Party Transactions
Related Party Transactions
Related Party Transactions
Pursuant to the Partnership Agreement and a management services agreement among HOLP GP, HOLP and the General Partner, the General Partner is entitled to reimbursement for all direct and indirect expenses incurred or payments it makes on our behalf. These costs, which totaled $139,797 for the three months ended December 31, 2012, and $90,741 for the three months ended December 31, 2011, include employee compensation and benefit expenses of employees of the General Partner and general and administrative expenses.
UGI provides certain financial and administrative services to the General Partner. UGI bills the General Partner monthly for all direct and indirect corporate expenses incurred in connection with providing these services and the General Partner is reimbursed by the Partnership for these expenses. The allocation of indirect UGI corporate expenses to the Partnership utilizes a weighted, three-component formula based on the relative percentage of the Partnership’s revenues, operating expenses and net assets employed to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. The General Partner believes that this allocation method is reasonable and equitable to the Partnership. Such corporate expenses totaled $3,892 during the three months ended December 31, 2012, and $2,267 during the three months ended December 31, 2011. In addition, UGI and certain of its subsidiaries provide office space, stop loss medical coverage and automobile liability insurance to the Partnership. The costs related to these items totaled $1,564 for the three months ended December 31, 2012, and $902 for the three months ended December 31, 2011.
From time to time, AmeriGas OLP purchases propane on an as needed basis from UGI Energy Services, Inc. (“Energy Services”). The prices for any such propane purchased are generally based on market price at the time of purchase. There were no purchases of propane by AmeriGas OLP from Energy Services during the three months ended December 31, 2012 or 2011.
In addition, the Partnership sells propane to affiliates of UGI. Such amounts were not material during the periods presented.
Commitments and Contingencies
Commitments and Contingencies
Commitments and Contingencies
Environmental Matters
Saranac Lake. By letter dated March 6, 2008, the New York State Department of Environmental Conservation (“DEC”) notified AmeriGas OLP that DEC had placed property owned by the Partnership in Saranac Lake, New York, on its Registry of Inactive Hazardous Waste Disposal Sites. A site characterization study performed by DEC disclosed contamination related to former manufactured gas plant (“MGP”) operations on the site. DEC has classified the site as a significant threat to public health or environment with further action required. The Partnership has researched the history of the site and its ownership interest in the site. The Partnership has reviewed the preliminary site characterization study prepared by the DEC, the extent of the contamination, and the possible existence of other potentially responsible parties. The Partnership communicated the results of its research to DEC in January 2009 and is awaiting a response before doing any additional investigation. Because of the preliminary nature of available environmental information, the ultimate amount of expected clean up costs cannot be reasonably estimated.
Claremont, New Hampshire and Chestertown, Maryland. In connection with the Heritage Acquisition on January 12, 2012, a predecessor of Titan Propane, LLC (“Titan LLC”), a former subsidiary acquired in the Heritage Acquisition, is purportedly the beneficial holder of title with respect to two former MGPs discussed below. The Contribution Agreement provides for indemnification from ETP for certain expenses associated with remediation of these sites. By letter dated September 30, 2010, the EPA notified Titan LLC that it may be a potentially responsible party (“PRP”) for cleanup costs associated with contamination at a former MGP in Claremont, New Hampshire. In June 2010, the Maryland Attorney General (“MAG”) identified Titan LLC as a PRP in connection with contamination at a former MGP in Chestertown, Maryland and requested that Titan LLC participate in characterization and remediation activities. Titan LLC has supplied the EPA and MAG with corporate and bankruptcy information for its predecessors to support its claim that it is not liable for any remediation costs at the sites. Because of the preliminary nature of available environmental information, the ultimate amount of expected clean up costs cannot be reasonably estimated.
Other Matters
Cylinder Investigation. On or about October 21, 2009, the General Partner received a notice that the Offices of the District Attorneys of Santa Clara, Sonoma, Ventura, San Joaquin and Fresno Counties and the City Attorney of San Diego (the “District Attorneys”) have commenced an investigation into AmeriGas OLP’s cylinder labeling and filling practices in California as a result of the Partnership's decision in 2008 to reduce the volume of propane in cylinders it sells to consumers from 17 pounds to 15 pounds. At that time, the District Attorneys issued an administrative subpoena seeking documents and information relating to those practices. We have responded to the administrative subpoena. On or about July 20, 2011, the General Partner received a second subpoena from the District Attorneys. The subpoena sought additional information and documents regarding AmeriGas OLP’s cylinder exchange program and we responded to that subpoena. In connection with this matter, the District Attorneys have alleged potential violations of California’s antitrust laws, California's slack-fill law, and California's principal false advertising statute. We believe we have strong defenses to these allegations.
Federal Trade Commission Investigation of Propane Grill Cylinder Filling Practices. On or about November 4, 2011, the General Partner received notice that the Federal Trade Commission (“FTC”) is conducting an antitrust and consumer protection investigation into certain practices of the Partnership which relate to the filling of portable propane cylinders. On February 2, 2012, the Partnership received a Civil Investigative Demand from the FTC that requests documents and information concerning, among other things, (i) the Partnership’s decision, in 2008, to reduce the volume of propane in cylinders it sells to consumers from 17 pound to 15 pounds and (ii) cross-filling, related service arrangements and communications regarding the foregoing with competitors. The Partnership believes that it will have good defenses to any claims that may result from this investigation. We are not able to assess the financial impact this investigation or any related claims may have on the Partnership.
Purported Class Action Lawsuit. In 2005, Samuel and Brenda Swiger (the “Swigers”) filed what purports to be a class action in the Circuit Court of Harrison County, West Virginia, against UGI, an insurance subsidiary of UGI, certain officers of UGI and the General Partner, and their insurance carriers and insurance adjusters. In this lawsuit, the Swigers are seeking compensatory and punitive damages on behalf of the putative class for alleged violations of the West Virginia Insurance Unfair Trade Practice Act, negligence, intentional misconduct, and civil conspiracy. The Court has not certified the class and, in October 2008, stayed the lawsuit pending resolution of a separate, but related class action lawsuit filed against AmeriGas OLP in Monongalia County, which was settled in Fiscal 2011. We believe we have good defenses to the claims in this action.
BP America Production Company v. Amerigas Propane, L.P. On July 15, 2011, BP America Production Company (“BP”) filed a complaint against AmeriGas OLP in the District Court of Denver County, Colorado, alleging, among other things, breach of contract and breach of the covenant of good faith and fair dealing relating to amounts billed for certain goods and services provided to BP since 2005 (the “Services”). The Services relate to the installation of propane-fueled equipment and appliances, and the supply of propane, to approximately 400 residential customers at the request of and for the account of BP. The complaint seeks an unspecified amount of direct, indirect, consequential, special and compensatory damages, including attorneys’ fees, costs and interest and other appropriate relief. It also seeks an accounting to determine the amount of the alleged overcharges related to the Services. We have substantially completed our investigation of this matter and, based upon the results of that investigation, we believe we have good defenses to the claims set forth in the complaint and the amount of loss will not have a material impact on our results of operations and financial condition.
We cannot predict the final results of any of the environmental or other pending claims or legal actions described above. However, it is reasonably possible that some of them could be resolved unfavorably to us and result in losses in excess of recorded amounts. We are unable to estimate any possible losses in excess of recorded amounts. Although we currently believe, after consultation with counsel, that damages or settlements, if any, recovered by the plaintiffs in such claims or actions will not have a material adverse effect on our financial position, damages or settlements could be material to our operating results or cash flows in future periods depending on the nature and timing of future developments with respect to these matters and the amounts of future operating results and cash flows. In addition to the matters described above, there are other pending claims and legal actions arising in the normal course of our businesses. We believe, after consultation with counsel, the final outcome of such other matters will not have a material effect on our consolidated financial position, results of operations or cash flows.
Fair Value Measurement
Fair Value Measurements
Fair Value Measurements

Derivative Financial Instruments
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of December 31, 2012, September 30, 2012 and December 31, 2011:
 
 
 
Asset (Liability)
 
 
Quoted Prices
in Active
Markets for
Identical
Assets and
Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
 
Total
December 31, 2012:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
3,108

 
$
—

 
$
3,108

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(28,290
)
 
$
—

 
$
(28,290
)
September 30, 2012:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
2,089

 
$
—

 
$
2,089

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(42,598
)
 
$
—

 
$
(42,598
)
December 31, 2011:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
27

 
$
—

 
$
27

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(16,538
)
 
$
—

 
$
(16,538
)

 
The fair values of our non-exchange traded commodity derivative contracts are based upon indicative price quotations available through brokers, industry price publications or recent market transactions and related market indicators. For commodity option contracts not traded on an exchange, we use a Black Scholes option pricing model that considers time value and volatility of the underlying commodity.
Other Financial Instruments
The carrying amounts of other financial instruments included in current assets and current liabilities (except for current maturities of long-term debt) approximate their fair values because of their short-term nature. At December 31, 2012, the carrying amount and estimated fair value of our long-term debt (including current maturities) were $2,323,051 and $2,541,466, respectively. At December 31, 2011, the carrying amount and estimated fair value of our long-term debt (including current maturities) were $932,286 and $925,236, respectively. We estimate the fair value of long-term debt by using current market prices and by discounting future cash flows using rates available for similar type debt (Level 2).
We have financial instruments such as short-term investments and trade accounts receivable which could expose us to concentrations of credit risk. We limit our credit risk from short-term investments by investing only in investment-grade commercial paper and U.S. Government securities. The credit risk from trade accounts receivable is limited because we have a large customer base which extends across many different U.S. markets.
Disclosures about Derivative Instruments and Hedging Activities
Disclosures About Derivative Instruments and Hedging Activities
Disclosures About Derivative Instruments and Hedging Activities

The Partnership is exposed to certain market risks related to its ongoing business operations. Management uses derivative financial and commodity instruments, among other things, to manage these risks. The primary risks managed by derivative instruments are commodity price risk and interest rate risk. Although we use derivative financial and commodity instruments to reduce market risk associated with forecasted transactions, we do not use derivative financial and commodity instruments for speculative or trading purposes. The use of derivative instruments is controlled by our risk management and credit policies which govern, among other things, the derivative instruments the Partnership can use, counterparty credit limits and contract authorization limits. Because most of our derivative instruments generally qualify as hedges under GAAP, we expect that changes in the fair value of derivative instruments used to manage commodity or interest rate market risk would be substantially offset by gains or losses on the associated anticipated transactions.
Commodity Price Risk
In order to manage market risk associated with the Partnership’s fixed-price programs which permit customers to lock in the prices they pay for propane principally during the months of October through March, the Partnership uses over-the-counter derivative commodity instruments, principally price swap contracts. At December 31, 2012 and 2011, there were 200.3 million gallons and 125.4 million gallons, respectively, of propane hedged with over-the-counter price swap and option contracts that qualify for hedge accounting treatment. At December 31, 2012, the maximum period over which we are hedging propane market price risk is 23 months with a weighted average of 5 months. In addition, the Partnership from time to time enters into price swap and option agreements to reduce short-term commodity price volatility and to provide market price risk support to a limited number of its wholesale customers which are generally not designated as hedges for accounting purposes.
We account for a significant portion of our commodity price risk contracts as cash flow hedges. Changes in the fair values of contracts qualifying for cash flow hedge accounting are recorded in accumulated other comprehensive income (“AOCI”) and noncontrolling interest, to the extent effective in offsetting changes in the underlying commodity price risk, until earnings are affected by the hedged item. At December 31, 2012, the amount of net losses associated with commodity price risk hedges expected to be reclassified into earnings during the next twelve months based upon current fair values is $31,611.
Interest Rate Risk
Our long-term debt is typically issued at fixed rates of interest. As these long-term debt issues mature, we typically refinance such debt with new debt having interest rates reflecting then-current market conditions. In order to reduce market rate risk on the underlying benchmark rate of interest associated with near- to medium-term forecasted issuances of fixed-rate debt, from time to time we enter into interest rate protection agreements (“IRPAs”). We account for IRPAs as cash flow hedges. Changes in the fair values of IRPAs are recorded in AOCI, to the extent effective in offsetting changes in the underlying interest rate risk, until earnings are affected by the hedged interest expense. There are no settled or unsettled amounts relating to IRPAs at December 31, 2012.
Derivative Financial Instruments Credit Risk
The Partnership is exposed to credit loss in the event of nonperformance by counterparties to derivative financial and commodity instruments. Our counterparties principally consist of major energy companies and major U.S. financial institutions. We maintain credit policies with regard to our counterparties that we believe reduce overall credit risk. These policies include evaluating and monitoring our counterparties’ financial condition, including their credit ratings, and entering into agreements with counterparties that govern credit limits. Certain of these agreements call for the posting of collateral by the counterparty or by the Partnership in the forms of letters of credit, parental guarantees or cash. Although we have concentrations of credit risk associated with derivative financial instruments held by certain derivative financial instrument counterparties, the maximum amount of loss due to credit risk that, based upon the gross fair values of the derivative financial instruments, we would incur if these counterparties that make up the concentration failed to perform according to the terms of their contracts was not material at December 31, 2012. Certain of our derivative contracts have credit-risk-related contingent features that may require the posting of additional collateral in the event of a downgrade in the Partnership’s debt rating. At December 31, 2012, if the credit-risk-related contingent features were triggered, the amount of collateral required to be posted would not be material.

The following table provides information regarding the fair values and balance sheet locations of our derivative assets and liabilities existing as of December 31, 2012 and 2011:
 
 
 
Derivative Assets
 
Derivative (Liabilities)
 
 
Balance Sheet
Location
 
Fair Value

 
Balance Sheet
Location
 
Fair Value

 
 
 
2012
 
2011
 
 
2012
 
2011
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
Derivative financial instruments and other assets
 
$
3,108

 
$
27

 
Derivative financial instruments and other noncurrent liabilities
 
$
(28,290
)
 
$
(16,538
)
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
Derivative financial instruments and other assets
 
—

 
—

 
Derivative financial instruments and other noncurrent liabilities
 
—

 
—

Total Derivatives
 
 
 
$
3,108

 
$
27

 

 
$
(28,290
)
 
$
(16,538
)

The following table provides information on the effects of derivative instruments on the Condensed Consolidated Statements of Operations and changes in AOCI and noncontrolling interest for the three months ended December 31, 2012 and 2011:
Three Months Ended December 31,:
 
 
Gain (Loss) Recognized in
AOCI  and Noncontrolling
Interest
 
Gain (Loss) Reclassified  from
AOCI and Noncontrolling
Interest into Income
 
Location of Gain  (Loss)
Reclassified from
AOCI and Noncontrolling
Interest into Income
 
 
2012
 
2011
 
2012
 
2011
 
Cash Flow Hedges:
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
$
(2,693
)
 
$
(14,153
)
 
$
(17,224
)
 
$
(1,722
)
 
Cost of sales
The amounts of derivative gains or losses representing ineffectiveness were not material for the three months ended December 31, 2012 and 2011.
We are also a party to a number of contracts that have elements of a derivative instrument. These contracts include, among others, binding purchase orders and contracts which provide for the purchase and delivery of propane and service contracts that require the counterparty to provide commodity storage or transportation service to meet our normal sales commitments. Although many of these contracts have the requisite elements of a derivative instrument, these contracts qualify for normal purchase and normal sales exception accounting under GAAP because they provide for the delivery of products or services in quantities that are expected to be used in the normal course of operating our business and the price in the contract is based on an underlying that is directly associated with the price of the product or service being purchased or sold.
Significant Accounting Policies (Policies)
Allocation of Net Income Attributable to AmeriGas Partners 
Allocation of Net Income Attributable to AmeriGas Partners. Net income attributable to AmeriGas Partners, L.P. for partners’ capital and statement of operations presentation purposes is allocated to the General Partner and the limited partners in accordance with their respective ownership percentages after giving effect to amounts distributed to the General Partner in excess of its 1% general partner interest in AmeriGas Partners based on its incentive distribution rights (“IDRs”) under the Fourth Amended and Restated Agreement of Limited Partnership of AmeriGas Partners, as amended (“Partnership Agreement”).
Net Income Per Unit 
Net Income Per Unit. Income per limited partner unit is computed in accordance with GAAP regarding the application of the two-class method for determining income per unit for master limited partnerships (“MLPs”) when IDRs are present. The two-class method requires that income per limited partner unit be calculated as if all earnings for the period were distributed and requires a separate calculation for each quarter and year-to-date period. In periods when our net income attributable to AmeriGas Partners exceeds our Available Cash, as defined in the Partnership Agreement, and is above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the General Partner. Generally, in periods when our Available Cash in respect of the quarter or year-to-date periods exceeds our net income (loss) attributable to AmeriGas Partners, the calculation according to the two-class method results in an allocation of earnings to the General Partner greater than its relative ownership interest in the Partnership (or in the case of a net loss attributable to AmeriGas Partners, an allocation of such net loss to the Common Unitholders greater than their relative ownership interest in the Partnership).
 
The following table sets forth the numerators and denominators of the basic and diluted income per limited partner unit computations:
 
 
 
Three Months Ended
December 31,
 
 
2012
 
2011
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method of MLPs
 
$
86,241

 
$
31,660

Weighted average Common Units outstanding—basic (thousands)
 
92,820

 
57,133

Potentially dilutive Common Units (thousands)
 
82

 
60

Weighted average Common Units outstanding—diluted (thousands)
 
92,902

 
57,193


Theoretical distributions of net income attributable to AmeriGas Partners, L.P. in accordance with the two-class method for the three months ended December 31, 2012 and 2011, resulted in an increased allocation of net income attributable to AmeriGas Partners, L.P. to the General Partner in the computation of income per limited partner unit which had the effect of decreasing earnings per limited partner unit by $0.06 and $0.16, respectively.
Potentially dilutive Common Units included in the diluted limited partner units outstanding computation reflect the effects of restricted Common Unit awards granted under the General Partner’s incentive compensation plans.
Use of Estimates 
Use of Estimates. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions.
Significant Accounting Policies (Tables)
Income per limited partner unit
The following table sets forth the numerators and denominators of the basic and diluted income per limited partner unit computations:
 
 
 
Three Months Ended
December 31,
 
 
2012
 
2011
Common Unitholders’ interest in net income attributable to AmeriGas Partners under the two-class method of MLPs
 
$
86,241

 
$
31,660

Weighted average Common Units outstanding—basic (thousands)
 
92,820

 
57,133

Potentially dilutive Common Units (thousands)
 
82

 
60

Weighted average Common Units outstanding—diluted (thousands)
 
92,902

 
57,193

Acquisition of Heritage Propane (Tables)
Summary of components and allocation of the preliminary purchase price 
Summary of pro forma consolidated results of operations 
The following presents unaudited pro forma income statement and income per unit data as if the Heritage Acquisition had occurred on October 1, 2011:
 
 
Three Months Ended
December 31,
 
2012 (As Reported)
 
2011 (Pro Forma)
Revenues
$
876,647

 
$
1,106,198

Net income attributable to AmeriGas Partners, L.P.
$
96,665

 
$
58,312

Income per limited partner unit:
 
 
 
Basic
$
0.93

 
$
0.64

Diluted
$
0.93

 
$
0.64

Goodwill and Intangible Assets (Tables)
Components of Intangible Assets
The Partnership’s goodwill and intangible assets comprise the following:
 
 
 
December 31,
2012
 
September 30,
2012
 
December 31,
2011
Goodwill (not subject to amortization)
 
$
1,914,827

 
$
1,914,808

 
$
692,166

Intangible assets:
 
 
 
 
 
 
Customer relationships and noncompete agreements
 
$
505,367

 
$
505,367

 
$
77,904

Trademarks and tradenames (not subject to amortization)
 
91,100

 
91,100

 
—

Gross carrying amount
 
596,467

 
596,467

 
77,904

Accumulated amortization
 
(70,314
)
 
(60,471
)
 
(37,897
)
Intangible assets, net
 
$
526,153

 
$
535,996

 
$
40,007

Fair Value Measurement (Tables)
Financial assets and financial liabilities at fair value on a recurring basis
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of December 31, 2012, September 30, 2012 and December 31, 2011:
 
 
 
Asset (Liability)
 
 
Quoted Prices
in Active
Markets for
Identical
Assets and
Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Unobservable
Inputs
(Level 3)
 
Total
December 31, 2012:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
3,108

 
$
—

 
$
3,108

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(28,290
)
 
$
—

 
$
(28,290
)
September 30, 2012:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
2,089

 
$
—

 
$
2,089

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(42,598
)
 
$
—

 
$
(42,598
)
December 31, 2011:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
27

 
$
—

 
$
27

Liabilities:
 
 
 
 
 
 
 
 
Derivative financial instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
$
—

 
$
(16,538
)
 
$
—

 
$
(16,538
)
Disclosures About Derivative Instruments and Hedging Activities (Tables)
Components of Fair Value of Derivative Assets and Liabilities 
The following table provides information regarding the fair values and balance sheet locations of our derivative assets and liabilities existing as of December 31, 2012 and 2011:
 
 
 
Derivative Assets
 
Derivative (Liabilities)
 
 
Balance Sheet
Location
 
Fair Value

 
Balance Sheet
Location
 
Fair Value

 
 
 
2012
 
2011
 
 
2012
 
2011
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
Derivative financial instruments and other assets
 
$
3,108

 
$
27

 
Derivative financial instruments and other noncurrent liabilities
 
$
(28,290
)
 
$
(16,538
)
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
Derivative financial instruments and other assets
 
—

 
—

 
Derivative financial instruments and other noncurrent liabilities
 
—

 
—

Total Derivatives
 
 
 
$
3,108

 
$
27

 

 
$
(28,290
)
 
$
(16,538
)
Components of Derivative Instruments Gain Loss In Statement of Operations 
The following table provides information on the effects of derivative instruments on the Condensed Consolidated Statements of Operations and changes in AOCI and noncontrolling interest for the three months ended December 31, 2012 and 2011:
Three Months Ended December 31,:
 
 
Gain (Loss) Recognized in
AOCI  and Noncontrolling
Interest
 
Gain (Loss) Reclassified  from
AOCI and Noncontrolling
Interest into Income
 
Location of Gain  (Loss)
Reclassified from
AOCI and Noncontrolling
Interest into Income
 
 
2012
 
2011
 
2012
 
2011
 
Cash Flow Hedges:
 
 
 
 
 
 
 
 
 
 
Propane contracts
 
$
(2,693
)
 
$
(14,153
)
 
$
(17,224
)
 
$
(1,722
)
 
Cost of sales
Nature of Operations (Details Textual)
3 Months Ended
Dec. 31, 2012
States
Employee
Nature of Operations (Textual) [Abstract]
 
Common Units held by ETP
29,567,362 
Nature of Operations (Additional Textual) [Abstract]
 
Number of states in which the company has market share (in states)
50 
Common units held by the general partner and its wholly owned subsidiary Petrolane Incorporated
23,756,882 
Common Units held by public
39,488,173 
Limited partner interest held by AmeriGas Partners in AmeriGas OLP (as a percent)
98.99% 
Employees of the AmeriGas Partners and the Operating Partnerships (in employees)
0 
AmeriGas Propane Inc Partnership Interest In AmeriGas Partners [Member]
 
Nature of Operations (Textual) [Abstract]
 
General Partners Ownership Interest (as a percent)
1.00% 
AmeriGas Propane Inc Partnership Interest In AmeriGas OLP [Member]
 
Nature of Operations (Textual) [Abstract]
 
General Partners Ownership Interest (as a percent)
1.01% 
Significant Accounting Policies (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Income per limited partner unit
 
 
Common Unitholders' interest in net income attributable to AmeriGas Partners under the two-class method for MLPs (in dollars)
$ 86,241 
$ 31,660 
Weighted average Common units outstanding - basic (thousands)
92,820 
57,133 
Potentially dilutive Common Units (thousands)
82 
60 
Weighted average Common Units outstanding - diluted (thousands)
92,902 
57,193 
Significant Accounting Policies (Details Textual)
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Significant Accounting Policies (Textual) [Abstract]
 
 
Theoretical distributions of net income on earnings (in dollars per unit)
$ 0.06 
$ 0.16 
AmeriGas Propane Inc Partnership Interest in AmeriGas OLP [Member]
 
 
General Partner Interest [Line Items]
 
 
General Partners Ownership Interest (as a percent)
1.01% 
 
AmeriGas Propane Inc Partnership Interest In AmeriGas Partners [Member]
 
 
General Partner Interest [Line Items]
 
 
General Partner Interest Percentage
1.00% 
 
General Partners Ownership Interest (as a percent)
1.00% 
 
AmeriGas Finance Corp., AP Eagle Finance Corp. and AmeriGas Finance LLC [Member]
 
 
Significant Accounting Policies (Textual) [Abstract]
 
 
Ownership Percentage of Finance Subsidiaries
100.00% 
 
Acquisition of Heritage Propane (Details 1) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Summary of pro forma consolidated results of operations
 
 
Revenues
$ 876,647 
$ 1,106,198 
Net income attributable to AmeriGas Partners, L.P.
$ 96,665 
$ 58,312 
Income per limited partner unit
 
 
Basic (in dollars per unit)
$ 0.93 
$ 0.64 
Diluted (in dollars per unit)
$ 0.93 
$ 0.64 
Acquisition of Heritage Propane (DetailsTextual) (Heritage Propane [Member], USD $)
In Thousands, except Share data, unless otherwise specified
0 Months Ended
Jan. 12, 2012
Heritage Propane [Member]
 
Acquisition of Heritage Propane (Textual) [Abstract]
 
Purchase price of the acquisition
$ 2,604,827 
Business acquired by parent through subsidiaries for cash
1,472,199 
AmeriGas Partners Common Units
29,567,362 
Consideration in AmeriGas Partners Common Units
$ 1,132,628 
Goodwill and Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Sep. 30, 2012
Dec. 31, 2011
Components of Intangible Assets
 
 
 
Goodwill (Not subject to amortization)
$ 1,914,827 
$ 1,914,808 
$ 692,166 
Other intangible assets:
 
 
 
Customer relationships and noncompete agreements
505,367 
505,367 
77,904 
Trademarks and tradenames (not subject to amortization)
91,100 
91,100 
0 
Gross carrying amount
596,467 
596,467 
77,904 
Accumulated amortization
(70,314)
(60,471)
(37,897)
Intangible assets, net
$ 526,153 
$ 535,996 
$ 40,007 
Goodwill And Intangible Assets (Details Textual) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Intangible Assets (Textual) [Abstract]
 
 
Amortization of Intangible Assets
$ 9,844 
$ 2,226 
Remainder of Fiscal 2013
29,011 
 
2014
37,554 
 
2015
35,362 
 
2016
34,190 
 
2017
$ 32,111 
 
Related Party Transactions (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
General Partner Expense [Member]
 
 
Related Party Transactions (Textual)
 
 
Costs and Expenses, Related Party
$ 139,797 
$ 90,741 
UGI Corp Expense Reimbursement [Member]
 
 
Related Party Transactions (Textual)
 
 
Costs and Expenses, Related Party
3,892 
2,267 
UGI Corp Office Insurance Reimbursement [Member]
 
 
Related Party Transactions (Textual)
 
 
Costs and Expenses, Related Party
1,564 
902 
Energy Services Propane Purchases [Member]
 
 
Related Party Transactions (Textual)
 
 
Costs and Expenses, Related Party
$ 0 
$ 0 
Commitments and Contingencies (Details)
3 Months Ended
Dec. 31, 2012
lb
CA cylinder investigation [Member]
 
Loss Contingencies [Line Items]
 
Amount of propane in cylinders before reduction (in pounds)
17 
Amount of propane in cylinders after reduction (in pounds)
15 
FTC Investigation [Member]
 
Loss Contingencies [Line Items]
 
Amount of propane in cylinders before reduction (in pounds)
17 
Amount of propane in cylinders after reduction (in pounds)
15 
BP Matter [Member]
 
Loss Contingencies [Line Items]
 
Number of residential customers related to the installation propane - fueled equipment and appliances, and the supply of propane (in customers)
400 
Fair Value Measurement (Details) (Commodity Contract [Member], Fair Value, Measurements, Recurring [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Sep. 30, 2012
Dec. 31, 2011
Assets:
 
 
 
Derivative Assets
$ 3,108 
$ 2,089 
$ 27 
Liabilities:
 
 
 
Derivative liabilities
(28,290)
(42,598)
(16,538)
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) [Member]
 
 
 
Assets:
 
 
 
Derivative Assets
   
   
   
Liabilities:
 
 
 
Derivative liabilities
   
   
   
Significant Other Observable Inputs (Level 2) [Member]
 
 
 
Assets:
 
 
 
Derivative Assets
3,108 
2,089 
27 
Liabilities:
 
 
 
Derivative liabilities
(28,290)
(42,598)
(16,538)
Unobservable Inputs (Level 3) [Member]
 
 
 
Assets:
 
 
 
Derivative Assets
   
   
   
Liabilities:
 
 
 
Derivative liabilities
   
   
   
Fair Value Measurement (Details Textual) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Fair Value Measurement (Textual) [Abstract]
 
 
Carrying amount of long-term debt
$ 2,323,051 
$ 932,286 
Estimated fair value of long-term debt
$ 2,541,466 
$ 925,236 
Disclosures About Derivative Instruments and Hedging Activities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Derivative Asset, Fair Value
 
 
Derivative Asset, Fair Value
$ 3,108 
$ 27 
Derivative Liability, Fair Value
 
 
Derivative Liability, Fair Value
(28,290)
(16,538)
Designated as Hedging Instrument [Member] |
Propane contracts [Member] |
Derivative Financial Instruments and Other Assets [Member]
 
 
Derivative Asset, Fair Value
 
 
Derivative Asset, Fair Value
3,108 
27 
Designated as Hedging Instrument [Member] |
Propane contracts [Member] |
Derivative Financial Instruments and Other Non Current Liabilities [Member]
 
 
Derivative Liability, Fair Value
 
 
Derivative Liability, Fair Value
(28,290)
(16,538)
Not Designated as Hedging Instrument [Member] |
Propane contracts [Member] |
Derivative Financial Instruments and Other Assets [Member]
 
 
Derivative Asset, Fair Value
 
 
Derivative Asset, Fair Value
0 
0 
Not Designated as Hedging Instrument [Member] |
Propane contracts [Member] |
Derivative Financial Instruments and Other Non Current Liabilities [Member]
 
 
Derivative Liability, Fair Value
 
 
Derivative Liability, Fair Value
$ 0 
$ 0 
Disclosures About Derivative Instruments and Hedging Activities (Details 1) (Propane contracts [Member], Cost of sales [Member], USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Propane contracts [Member] |
Cost of sales [Member]
 
 
Derivative Instruments, Gain (Loss) [Line Items]
 
 
Gain (Loss) Recognized in AOCI and Noncontrolling Interest
$ (2,693)
$ (14,153)
Gain (Loss) Reclassified from AOCI and Noncontrolling Interest into Income
$ (17,224)
$ (1,722)
Disclosures About Derivative Instruments and Hedging Activities (Details Textual) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Dec. 31, 2012
gal
Agreement
Dec. 31, 2011
gal
Disclosures About Derivative Instruments, Hedging Activities and Financial Instruments (Textual) [Abstract]
 
 
Maximum Length of Time Hedged in Price Risk Cash Flow Hedge (in months)
23 months 
 
Weighted Average Length of Time Hedge in Price Risk Cash Flow Hedge (in months)
5 months 
 
Derivative, Nonmonetary Notional Amount
200,300,000 
125,400,000 
Net losses associated with commodity price risk hedges expected to be reclassified into earnings during the next twelve months
$ 31,611 
 
Number of settled or unsettled interest rate protection agreements outstanding (in agreements)
0