Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 19

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 19
---
167,349

        Accumulated adjustments

        —

        (6,462
        )

        —

        —

        (6,462
        )

        $
        1,117,290

        $
        4,438

        $
        7,900

        $
        31,259

        $
        1,160,887

       Other intangible assets consist of the following:

        As of

        December 28,

        September 28,

        2024

        2024

        Customer relationships (1)
         
        $
        594,005

        $
        577,486

        Non-compete agreements (1)

        45,955

        41,955

        Other

        7,067

        7,067

        647,027

        626,508

        Less: accumulated amortization

        Customer relationships

        (516,055
        )

        (513,053
        )

        Non-compete agreements

        (36,333
        )

        (36,000
        )

        Other

        (3,115
        )

        (2,943
        )

        (555,503
        )

        (551,996
        )

        $
        91,524

        $
        74,512

       (1)	Reflects the impact from acquisitions (See Note 4).

8.Leases The Partnership leases certain property, plant and equipment, including portions of its vehicle fleet, for various periods under noncancelable leases all of which were determined to be operating leases.  The Partnership determines if an agreement contains a lease at inception based on the Partnership’s right to the economic benefits of the leased assets and its right to direct the use of the leased asset.  Right-of-use assets represent the Partnership’s right to use an underlying asset, and right-of-use liabilities represent the Partnership’s obligation to make lease payments arising from the lease.  Right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term.  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.Some leases include one or more